Why bitcoin is created? - page 19. | Bitcointalksearch.org

PilosopongTacio

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Quote from: kitkat04 on January 29, 2018, 12:15:13 PM

Bitcoin is digital currency or known as the father of all crypto currency that has the potential to become the new money or the electronic money around the world. Bitcoin is also the most expensive digital coin and it is almost compare to the gold but why bitcoin is created?
Here are some reason :
* To change the perception of all people about the digital currency.
* To improve the payments and transactions and in the internet world.
* To become the image of money around the world.
* To protect or hides the identity of the user, for security purposes.
* To give an opportunity to all people around the world to earn a secondary income.
* To upgrade the currency because everything in this world is now upgrading.

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Yes, I totally agree.. Its probably because we trade silver and gold from the past and its much more easier to transport paper money and now the world is changing, thats why they invented a digital currency where we can transact and trade it through fiat money or products. we are now living in a modern age where internet and computers provides us easy access to almost everything. It also provides convenience and this is done digitally without the involvement of a third party.

Theo222

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why bitcoin is created? maybe satoshi nakamoto see something upgrades to our money because we are in the age of technology and why we dont have a currency that use only in internet. he see that our computer can be use to have digital currency that why he created bitcoin. and the aim of this coin is to lessen the time to all transactions.

Gumpfire

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Quote from: kitkat04 on January 29, 2018, 12:15:13 PM

Bitcoin is digital currency or known as the father of all crypto currency that has the potential to become the new money or the electronic money around the world. Bitcoin is also the most expensive digital coin and it is almost compare to the gold but why bitcoin is created?
Here are some reason :
* To change the perception of all people about the digital currency.
* To improve the payments and transactions and in the internet world.
* To become the image of money around the world.
* To protect or hides the identity of the user, for security purposes.
* To give an opportunity to all people around the world to earn a secondary income.
* To upgrade the currency because everything in this world is now upgrading.

SHARE YOUR THOUGHTS

If this post is worth of your merit, Thank you

I don't know the exact why Satoshi created this kind of thing we called Bitcoin or cryptocurrency. Even satoshi hide its identity he/she such worthy of such a big praise and compliments. But in my opinion, may be bitcoin was created out of pity for people who are experiencing poverty, hunger or something that people could possibly experience when they runs out of money. And also, maybe for some convenience, and improvements for the world to be lifted up.

doraegun

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Quote from: kitkat04 on January 29, 2018, 12:15:13 PM

Bitcoin is digital currency or known as the father of all crypto currency that has the potential to become the new money or the electronic money around the world. Bitcoin is also the most expensive digital coin and it is almost compare to the gold but why bitcoin is created?
Here are some reason :
* To change the perception of all people about the digital currency.
* To improve the payments and transactions and in the internet world.
* To become the image of money around the world.
* To protect or hides the identity of the user, for security purposes.
* To give an opportunity to all people around the world to earn a secondary income.
* To upgrade the currency because everything in this world is now upgrading.

SHARE YOUR THOUGHTS

If this post is worth of your merit, Thank you

Bitcoin was created last 2009 because many people are already tired to the present method of payment that's why some other country like CHINA should be used a cashless payment for conveniently action in terms of payment. on the other side who know that this will be made for the purpose of volume of selling of some other gadget, Device, Software, hardware and computer those are the few example why they Build a BITCOIN digital Currency which was until now nobody know whose nakamoto's in real life.

data_teks

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bitcoin needed to show to all world that people could have something own without any governments and laws which will tell us what to do and where to go.

quanghoa7911

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As far as I know, bitcoin is created primarily to solve the problem of inflation. When the basic problem is the same amount of goods in the economy, people have the right to print money can print the amount of money arbitrarily. The result is severe inflation. So bitcoin is born to solve this problem. It is possible that even the creator of a bitcoin does not consider it a trading currency. Maybe he just thinks bitcoin is like a common currency value without inflation. Maybe that's why its transaction speed is limited later.

BitcoinGuruOne

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I think OP forgot to mention one of the most important reasons and it is to decentralise money.
One of the possible reasons what motivated the creator or creators of BTC was the big financial crysis in the world which included real estate bublle and more. This could very well be the resons of creating BTc- to give people back the power over banks and financial institutions.

Gabash

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Quote from: kitkat04 on January 29, 2018, 12:15:13 PM

Bitcoin is digital currency or known as the father of all crypto currency that has the potential to become the new money or the electronic money around the world. Bitcoin is also the most expensive digital coin and it is almost compare to the gold but why bitcoin is created?
Here are some reason :
* To change the perception of all people about the digital currency.
* To improve the payments and transactions and in the internet world.
* To become the image of money around the world.
* To protect or hides the identity of the user, for security purposes.
* To give an opportunity to all people around the world to earn a secondary income.
* To upgrade the currency because everything in this world is now upgrading.

SHARE YOUR THOUGHTS

If this post is worth of your merit, Thank you

And also bitcoin is created for those people who wanted to become rich and it is for the future generation, that our children and their children will do as we did. I appreciated your post, because those are the possible characteristics of bitcoin.

Hienhienhb

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Bitcoin created decentralized trust. Understanding the implications of this are critical in understanding bitcoin.
As OP described wonderfully above, our current system relies on a bank to act as a trusted third-party when two parties are transacting. For example, when I swipe a debit card at a store, the bank tells the store that I have enough funds to pay for my items. The store trusts the bank response, thus trusting me to walk out of the store with merchandise and that they will be paid.

Bitcoin shows that trust doesn't need a centralized third-party (i.e. banks) to establish trust. You can have a decentralized network of trust instead. People can easliy, safely, and securely transact on this network of decentralized trust. This is ground breaking. It completely disrupts a major value proposition for banks.
My idea will help the beginner understand to bitcoin.

Ronaldo Vu

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Immediate motivation might've been the banking crisis and bailouts. This might've sparked Satoshi to work on the project. Looking at it in the longer-term, it might've been a "do it because it can be done" project - a lot of software developers, cryptographers, etc. come up with some ideas that might not have an immediate application, but they know the idea has a large potential. The core technology behind Bitcoin might've been brewing for awhile before it was put into the core client.

Purwal

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Bank bail out after bank bail out. There's also clearly demand to have an alternative to central bank issued currency. Also there's been people trying to create a purely digital currency for decades. They all got squashed by the government, so Bitcoin is decentralized like BitTorrent vs early attempts that were all centralized like napster.
The more radical and experimental central bank policy gets (QE, negative rates, currency devaluations) the more alternatives like Bitcoin and gold look attractive.

Harry_no1

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In Summary - cypherpunk roots- http://www.activism.net/cypherpunk/crypto-anarchy.html

Many attempts to create sovereign currency. B-money, hashcash, ect...Than Satoshi started posting - http://satoshi.nakamotoinstitute.org/emails/cryptography/

Bitcoin is an experiment in anarchism- https://www.youtube.com/watch?v=hPY-5SR-jPQ

It was created as an exit from state and bank currency. Even today it is primarily used for regulatory arbitrage. Ironically enough it is also a hedge against Anarchism. If States and Banks disappear(not going to happen) than bitcoins largest premium evaporates supporting its utility, value, and thus security. One day more and more statists will start to realize this inconvenient truth: The strength and growth of the state indirectly supports the premium those will pay for bitcoin to convert energy into fungible value thus they would be wise to invest in bitcoin and the flip side investing into bitcoin supports the security of this anarchistic currency.

Suffoc8

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Quote from: kitkat04 on January 29, 2018, 12:15:13 PM

Bitcoin is digital currency or known as the father of all crypto currency that has the potential to become the new money or the electronic money around the world. Bitcoin is also the most expensive digital coin and it is almost compare to the gold but why bitcoin is created?
Here are some reason :
* To change the perception of all people about the digital currency.
* To improve the payments and transactions and in the internet world.
* To become the image of money around the world.
* To protect or hides the identity of the user, for security purposes.
* To give an opportunity to all people around the world to earn a secondary income.
* To upgrade the currency because everything in this world is now upgrading.

SHARE YOUR THOUGHTS

If this post is worth of your merit, Thank you

You have a good ideas about what is the purpose of the people who create bitcoin and other cryptos. It is like Technology or let us say that it is part of the technology, technology is being created for us to have a easier and much safer life.

wall101

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Dava.Dina

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Bitcoin is like something that can not be controlled by anything and works on a set of predefined rules.

Actually Bitcoin creates major changes in online transactions and payment systems around the world, which change the ecosystem.
Bitcoin is a digital currency used by people around the world to earn extra income, it helps and gives opportunity to the poor.

todiefor17

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Quote from: kitkat04 on January 29, 2018, 12:15:13 PM

Bitcoin is digital currency or known as the father of all crypto currency that has the potential to become the new money or the electronic money around the world. Bitcoin is also the most expensive digital coin and it is almost compare to the gold but why bitcoin is created?
Here are some reason :
* To change the perception of all people about the digital currency.
* To improve the payments and transactions and in the internet world.
* To become the image of money around the world.
* To protect or hides the identity of the user, for security purposes.
* To give an opportunity to all people around the world to earn a secondary income.
* To upgrade the currency because everything in this world is now upgrading.

SHARE YOUR THOUGHTS

If this post is worth of your merit, Thank you

I think bitcoin was created to eliminate the banks of governments. But also a lot of my friends also said that bitcoin was created for terrorists who could buy weapons and there are many other reasons as well

guxu219

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I believe that bitcoin was created to revoke the power from the world's government and central banks by creating an alternative currency to what already exists. The current fiat currency is all under control of government and hence they can control the world for their own benefits. Bitcoin is like something which isn't under control of anything and works on predefined set of rules.

Nice compilation of points. Bitcoin is bringing power back to the people that's why I will always support it.

neoandtrinity

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Bitcoin was created after this crisis as a way for users to take control of their money, instead of trusting the financial system. Bitcoin is independent of any central bank or any manipulation by any government .

heisenberg0000

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Quote from: kitkat04 on January 29, 2018, 12:15:13 PM

Bitcoin is digital currency or known as the father of all crypto currency that has the potential to become the new money or the electronic money around the world. Bitcoin is also the most expensive digital coin and it is almost compare to the gold but why bitcoin is created?
Here are some reason :
* To change the perception of all people about the digital currency.
* To improve the payments and transactions and in the internet world.
* To become the image of money around the world.
* To protect or hides the identity of the user, for security purposes.
* To give an opportunity to all people around the world to earn a secondary income.
* To upgrade the currency because everything in this world is now upgrading.

SHARE YOUR THOUGHTS

If this post is worth of your merit, Thank you

Some of the points you give are correct but if someone who is not that technical would have a difficult time understanding this. If you want a simpler explanation on what bitcoin is then you can read or google about the original whitepaper published by satoshi nakamoto. And I suggest you can watch the short documentary in netflix called "banking on bitcoin". There you can understand more what bitcoin is.

CryptoJedi1

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I found this article convincing and aligning with your thoughts on why bitcoin was created.

https://medium.com/founder-playbook/a-quick-reminder-why-bitcoin-was-invented-in-the-first-place-f9ae7430bc17

Topic: Why bitcoin is created? - page 19. (Read 2556 times)