Topic: Why bitcoin is created? - page 3. (Read 2559 times)

Like Internet, Blockchain technology was also a revolution,
Internet is no more private, and for better privacy, we developed blockchain.
This new technology is not being developed by a single country or group in a single lab, but it is constantly being developed all around the world. So the question arises...... Who would fund this developement of blockchain ?
The answer is simple, Bitcoin and other crypto currencies are received by people who develope and the cycle goes on !

Bitcoin is created to stay away from government and run on open ledger with mining technology and keep price increasing in decentralised manner

Why bitcoin is created? Because for me bitcoin is created for more reason because The main purpose of creating Bitcoin is to make financial transactions easier, more secure and faster i think bitcoin is the best created in the world because more people change life because of that bitcoin,..

Bitcoin is created for the reasons of taxes because when you get bitcoin you dont pay taxes to the exchange and the governments does not know about it.

I think bitcoin was created for people who hate the way banks and other corporations handle the day to day working class people and it helps all of us to make more money and removes the third party involvement in it   

To help other people to make a profit and introduce the digital marketing int he industry. In my opinion, bitcoin is a source of other people who want to earn extra income by posting and joining bitcoin forum. If you don't have enough money and so much time. You can join bitcoin forum and make the profit to support your financial needs.

I think that there was critical mass made that was tired of traditional payment and banking system, oldfashioned finances with too much third parties involved, too much centralization.
Bitcoin looked like a solution for all this issues but I think that back then when it was created no one realy thought that it will achieve such success.

Have you bought any cryptocurrency?)

For me, bitcoin is created for a lot of reasons. First of all, the fact if having virtual money needs a lot of faith because we are all  used to cash. Bitcoin reduces unemployment, offer blockchains with very little value of fees. Maybe one of bitcoins' goal is to make banks disappear.

People used to pay each other in gold and silver. Difficult to transport. Difficult to divide.
Paper money was invented. A claim to gold in a bank vault. Easier to transport and divide.
Banks gave out more paper money than they had gold in the vault. They ran “fractional reserves”. A real money maker. But every now and then, banks collapsed because of runs on the bank.
Central banking was invented. Central banks would be lenders of last resort. Runs on the bank were thus mitigated by banks guaranteeing each other’s deposits through a central bank. The risk of a bank run was not lowered. Its frequency was diminished and its impact was increased. After all, banks remained basically insolvent in this fractional reserve scheme.
Banks would still get in trouble. But now, if one bank got in sufficient trouble, they would all be in trouble at the same time. Governments would have to step in to save them.
All ties between the financial system and gold were severed in 1971 when Nixon decided that the USD would no longer be exchangeable for a fixed amount of gold. This exacerbated the problem, because there was now effectively no limit anymore on the amount of paper money that banks could create.
What was needed was a peer-to-peer electronic cash system. This was what Satoshi Nakamoto described in 2009. It was a response to all the problems described above. That is why he labeled the genesis block with the text: “03/Jan/2009 Chancellor on brink of second bailout for banks.”. Bitcoin was meant to be an alternative to our current financial system.

in my opinion bitcoin is created to end poverty from world.

The main purpose of creating Bitcoin is to make financial transactions easier, more secure and faster. Since it has been created it has evolved after just being a digital currency for transferring or moving money from anywhere in the world, to anyone at anytime, it began to be an asset, something that can store a value. and as time goes by it also became a means of providing jobs for people who are willing to invest time and effort to earn some coins, a living if they want to.

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I add some reasons why Bitcoin is made:
-To facilitate transactions that provide security for its users.
-To facilitate payment for investors to invest from various countries.
Hopefully, Bitcoin can grow even better, and the stability of its price can be even better.

I think bitcoin is creating by Satoshi Nakamoto reward for mining. You are familiar with mining gold. If you already have the gold, you can convert into paper money. All most the same. We mine the bitcoin after already have in your wallet we can turn into fiat. But the help of the technology sometimes we don’t need to convert the bitcoin to real money, some store accepts it. The value of the bitcoin depends on the supply and demand of it on the markets.

because money online community is also required of the bitcoin made so that the community can have money online or the great ones who have company also requires the money online and from the bitcoin made to facilitate many people to Transact or investment.

if I'm asked to make bitcoin so many people will help each country suffering because of bitcoin.

Simply, bitcoin is the first implementation of a concept called "cryptocurrency", created as a breakthrough in a new form of money that uses cryptography to control manufacture and transactions, instead of using centralized authority.

Exactly. It was created by A.I. because it knows that Androids will take our jobs.

Here is a more detailed analysis.

https://bitcointalksearch.org/topic/m.34579057

and not to be controlled by banks, just for the people