Topic: The reason behind creating Bitcoin. - page 6. (Read 1318 times)

I would definitely agree that Satoshi intended bitcoin to revolutionise the current state of banking and economy. He might've seen huge drawbacks and flaws in the system of the currencies we have right now and created a digital currency capable of taking care of things that fiat couldn't. It's just disappointing that not much people see this and only regard of bitcoin as another get rich quick scheme.

Technically yes, Satoshi created bitcoin was to eliminate the third party, make the transaction peer to peer. As time goes by people started to make bitcoin as a source of income because bitcoin prices change very quickly and people can make a profit from that situation. The technology behind the Bitcoin, the Blockchain also bring some advantages that we've seen today, people are starting to develop it and implement it in order to solve human's problem.

One of the reasons I believe that Bitatos was launched by Satoshi is to fight a system that will lead humanity to an imminent disaster without life, when the economic system is attacked, resources, food and services are exhausted, It keeps them slaves, now with an economy that does not obey traditional principles, anyone has the opportunity to obtain at least more financial freedom.

Now there are two economies, where Bitcoin seems to be from another parallel universe, where there is a refuge value for countries with crises, not just gold, now there is Bitcoin, I think that is why this technology was launched.

Thinking about the reason behind bitcoin's creation for me it is not just for an end to the control of banks, but to create a currency that will be as efficient as sending messages. With this, bitcoin is created as well as to make the best investment platform ever which will allow people to become rich in an instant if they could guess the price right and have enough fund as an initial investment. Satoshi didn't actually disclose any other reason but based from the white paper, it is a peer to peer technology to avoid the affiliation of any third party.

We really don't know what was the main reason why Bitcoin created. I don't think much of it, what important is, it is so beneficial to all of us; we are already enjoying the unique features that it has.
I got the pointers OP and I agree with that, there could be more and other reasons. Every digital user has their own different purpose of why he is using this kind of system. Some are just to make online transactions faster and less costly, some treat it as an asset like gold.

Personally, I don't think this was the main reason why Satoshi Nakamoto developed Bitcoin and blockchain technology.  I think Satoshi Nakamoto main focus was creating something that will introduce financial freedom to anybody in this world. The idea of financial freedom was one of the main reasons why Satoshi Nakamoto created blockchain technology and Bitcoin.

It really doesn't matter o what is Satoshi's reasons are but Bitcoin sure helps in many ways that you may think of not only with the convenience and speed, but at least it will surely make someone free from financial burden in my opinion,

Many would surely speculate different things on why Satoshi created Bitcoin, But I don't really care at all as long as it helps me in many ways, It can be to help improve the financial crisis the world has, or it is just a coincidence that Satoshi had made it that way the only thing sure about it is the fast and convenient transaction it can offer.

Actually this has been going for very long, and 2008 wasn't the first nor the last episode, for as long as the world continue with fractional reserve bank practices, bubbles will occur, and they will eventually pop and crash the market. Because of the so called credit expansion, which the dominant school of economy promotes; and of course this system can make banks go bankrupt, which would destroy the economy even more.

While it is said that Satoshi created this as response of 2008, i strongly believe this was made to solve a much more long standing problem. Even in the 2008 housing crisis hadn't occurred, some other would have. And there will be another, and another, since this has been going on for many decades, or even a century.

Besides the idea that eventually became Bitcoin was moving around before 2008, i guess maybe 2008 made it a perfect example of "why is it needed", as the next bubble that pops will again later.

Until the world drops the Chicago school of economy, and embrace the Austrian school, this isn't over. Since you already know this, you can protect yourself by using Bitcoin, but most people are ignorant of the reason WHY banks, fiat and their economies do what they do.

If you see someone that thinks banks should pay them interest for keeping their money, you know this person belongs to the vast majority that doesn't understand and are part of the current system.

If you have a coin that doesn't lose value overtime, the idea of needing a bank to preserve (some) of its purchasing power overtime becomes moot. And banks, on the other hand, should not be working with fractional reserve, which is an elaborate and legalized ponzi scheme where most of the money that moves this Chicago school based economy doesn't exist anywhere.

The central bank is a bank of banks, needed because single banks can go bankrupt easier than the bunch of banks in a country together. Traditionally it also manages the fiat coin. In any case it is not needed if banks go back to full reserve practices and a non inflationary coin is used in the economy. A central bank is not cause, it's consequence. Cause is fractional reserve and a debt based economy. To go into savings based economy, read the Austrian school economists.

the main thing I like about bitcoin sending in large numbers between people from different countries is not an obstacle, even much better than conventional banks.
cheaper, faster and easier cost without complicated supervision.

Well one thing about bitcoin is that it was meant for the people. Whether satoshi's real or not, i think the creators wanted to have an alternative to the current banking system where everything can be controlled and manipulized but people in the higher ups. Bitcoin removes that. Though the more bitcoin's value rises, the more it strays away from it's original uses.

BTC was meant to be digital currency. Its features however are just meant for the control of central authority and I guess Satoshi was one of the people that were bothered during the 2008 economic crash that's why he released it. Probably to prevent the crash from recurring again because it wasn't just the first time that it happened.

I agree with this a lot. I think Bitcoin was created as a hedge against the type of financial control that has popped up constantly in the central banking era. The way the 2008 recession was handled left a sour taste in a lot of people's mouths, and even if it wasn't a main driver in Satoshi's original vision, I think its safe to assume it was a part the rationale behind some of the core devs.

I totally agree with you TS. Satoshi I think created a new level to make our financial transactions much easier and secured. While all the banks hold your money and invest them, you are the one who controls your money in Cryptocurrency and you've learned how to manage it.

I think it was created by the central banks to experiment with a potential replacement for the dying fiat currencies. The long confirmation times, and the 21 million cap ensure that it can never become the dominant world payment system.

I think financial freedom comes first, that there is always a "higher" level of finances in the world, and a reduction in the time of money circulation.
But it can also be seen from the point of one country, that it can easily change its currency into a more modern currency.

Maybe that is the main reason Satoshi Nakamoto created bitcoin. Despite the many reasons why bitcoin was created, we have gained many benefits. such as global scale remittances very quickly, no inflation, and many more benefits that we enjoy.

The other reasons probably just came out after it was being used.

The rest it's all of his plan to use it as P2P and the investment part was on the latter.

I'm with this point of view. Even if we unearthed the true reason of why Satoshi created bitcoin, it comes to the fact that we are now enjoying the benefits of it. Many lives have changed because of crypto. The crypto revolution along with blockchain technology will change how things are being managed in various industries if it will be used appropriately.

Definitely, people tend to be here trying their luck because we are all aiming o be financially stable and to earn the best that we deserve and aside from that I think cryptocurrencies will still existing if people will still recognized it cause for me we are interconnected with each other if something bad happened to a person who has a big role here of the rest will be affect for example a project sponsors if they turn down a certain project of course all of the people that connects to will be affected financially, I can say that every person here serves each one another.

After Bitcoin was created, it didn't become popular that instant. So if that's the main reason, then it took Bitcoin years before it helped the economic catastrophe back in 2008. Satoshi can only answer the reason behind creating bitcoin. The situation back then might have pushed Satoshi to pursue creating bitcoin. Maybe he also have another reason, but I know Bitcoin was created with a good intention and to help people.