Bitcoin Forum

In 2008, there was a huge economic catastrophe in the world. Some banks conspired and deliberately caused this economic disaster. This is why many people were financially disadvantaged and lost their trust in the bank. I think Satoshi made bitcoin to save people from this disaster. That is, Satoshi has created a currency where there is no third party. There will be no central bank. No one can control it. Customer to customer transactions can be done. While Bitcoin has no controller, no one will be able to intentionally disrupt its finances. Bitcoin introduced a new horizon to the world's economy and freed people from this economic catastrophe.

So I think this is why Bitcoin was created. Is that the only reason? Or are there more reasons? What is your opinion?

If my memory serves me right, though Satoshi Nakamoto didn't give an exact specific reason on why bitcoin was created, Stoshi definitely gave a nod to the 2008 financial crisis through the genesis block[1], with the text: "The Times 03/Jan/2009 Chancellor on brink of second bailout for banks".

Whatever the reasons why Bitcoin was created doesn't really matter that much, as people will have varying opinions on what Bitcoin is specifically for in the first place. What matters more is that we now have a platform whereas people could take advantage of it whether as a way of having an online decentralized currency, a store of value, a complete replacement to central banking, you name it.

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[1] https://en.bitcoin.it/wiki/Genesis_block

Do not forget about the speed and cost of international bank transactions - if you would like to send money, it can take even weeks (between 1st and 3rd world country banks) to handle the transfer, each corresponding bank has its own transfer fee (in some cases it can consume even half of the transferred amount!), if you miss a daily deadline - it might be that even in your own country money sent on Friday will not reach their destination by Monday.

With BTC you can send money much faster, wherever and whenever you want.

I still believe its part of having a financial evolution. But of course those reasons really matter. All the flaws and customer satisfaction issues are some of the factors as well. Many people will definitely looking forward for a better experience. As the world progresses and so with the technology, the financial market as well. Going digital is not possible for financial market without bitcoin and crypto currencies.

this is an interesting discussion, it looks like he satoshi made bitcoin for a reason also with the crisis problem in 2008 and it makes sense not far from the launch of bitcoin, but whether bitcoin is actually able to replace the performance of banks that have been in power all over the world then invite all people have banks for themselves using bitcoin, this reason makes sense

I wouldn't be so paranoic about the conspiracies in the world. After all we are all people I suppose - not aliens. We all make mistakes and we are all driven by emotions including greed and pain. Some people are thirsty for power mainly due to the bad education they've received when they were little.

I do believe that Bitcoin has been created with the greater good in mind. From any perspective I look Bitcoin is the logical choice and next pass to make in the start of a modern era led by technology advancements.

To give us back our financial freedom, freeing us from modern economic custody. And giving us the opportunity not to make us poor as quickly as it is happening...

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.

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.

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.

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.

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.

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.

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 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 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.

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.

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.

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.

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 (https://mises.org).

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.

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.

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.

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.

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.

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.

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.

To date, no one can be sure who Satoshi Nakamoto is. So we can only speculate about him and why he created bitcoin.
However, I think bitcoin was created because Satoshi Nakamoto was bored with the current financial system and he wanted something to break all the rules and give people the right to decide.

I think it's not like that because I've read something before that Satoshi is tired of the repeated situations of the banking industry. Where people have no freedom to use or save their own money specially in the USA where most people are living with a lot of debt in exchange of their healthy living.
I think Satoshi really want to change that idea where people doesn't have to rely too much on the banking system of the government. And that's why bitcoin is being created.

Indeed, Satoshi Nakamoto, or so he is well known of, saw the huge flaws of fiat currency and how it was being abused by centralised banks for their own good. This spark an inspiration on him to create a coin that's decentralised yet secure so customer to customer transactions can be done without an issue, he also made it safe to use in order to ensure the welfare of the common people. Thsi gave rise to bitcoin.

This is true. It doesn't matter what Satoshi's intentions were, fact is that its useful to us now, and this is reflected in the market price. If something is useful to you, you value it regardless of what it cost to produce. If the coin was useless people wouldn't wan't it. Turns out, it is useful for enough people that holds it that it gets that price you see in the free market.

Some people don't understand this. They don't believe in the free market, they want the State or someone else to decode what the thing should cost. This is of course an illusion, that builds pressure and eventually pops. A small group of people cannot replace the free market, its ability to produce information, real time and scale and adapt endlessly and simultaneously. Not even mighty computers can, even if some theories imply that AI may approximate it. You could think the free market is a sort of hive mind.

Any time the State or a private entity attempts to intervene this, it messes the flow of information and produce distortion that ultimately always ends in a worse result than leaving it alone. I mean things like "stable" coins or "self" imposed rules that should never belong into a coin (ie. who can and cannot use it, reverse transactions etc).

Its a coin. The gov can't touch it, the rich ones can't touch it, Satoshi can't touch it, all they can do is the same as everybody else, under the very same rules: Mine them (for a limited time), buy them, sell them, ignore them, their freedom. That's the beauty of it, and it's borderless too...

Close but not quite there.

Also it was to use or send money without using a government fiat currency. Or even just a way to store money without burying fiat currency that loses value or storing in a bank.

If you think that bitcoin was created simply because there was a global recession then you are mistaken, he should have decided to come up with a solution long back and the recession might have hit at the right time during the period of the bitcoin white paper release as this is not a technology that anyone can come up in a single day.

I think bitcoin was created because there is a problem with printed money. No one really has a control over how much money is out there. And governments know it and banks know it too. Satoshi comes with the solution of limited money and a tracking system. It was a great solution for the current problem and if satoshi was right, then in the future all money will be based in cryptos.

We can’t say the real reason but I think its really about doing transactions outside the bank and outside the government restrictions. Satoshi succeed on this one as we can see right now and for me Satoshi believes on having a faster transactions. The financial crisis might trigger Satoshi to create great system, still thankful to him.

I think you really need to go back and read the whitepaper of Bitcoin because the main reason why Satoshi created bitcoin was to design a peer to peer digital form of payment that people can use in their daily transactions. However, this dream seems far fetched now as most people prefer to holding bitcoin as assets to grow their wealth.

If we agree on something, it is that Bitcoin was created due to the serious financial problem that people have. Bitcoin tries to cover the needs of the community, and especially its security and time, because we should not wait for intermediaries, all we can have in a matter of seconds and it is within our reach, is economic freedom. It has been an interesting and very useful creation, because most people prefer to get and pay in Bitcoin.

I think the reason to create Bitcoin was clearly described in the introduction of Bitcoin whitepaper.
By creating Bitcoin that can be transferred from one person to another person, we don't need the third party anymore.  
This can minimize transaction costs, more efficient time, and more secure to the users.

*BTC WP: https://bitcoin.org/bitcoin.pdf

In fact, by implementing the LN, aren't they implementing a system similar to the one used by banks to settle their payments between different parties?

no one knows for sure the reason behind making bitcoin, only Satoshi and his crew know, but in my opinion there are many reasons behind making bitcoin, one of which is the speed and transaction costs, and freedom over our own assets.

Satoshi started working on Bitcoin long before the crisis started, so either he was a genius analyst who foresaw that event, or he had other reasons. I believe in the latter, not because I doubt Satoshi, but because I think it's more plausible - there were many attempts to create decentralized money using cryptography, so it's more of a coincidence that the first truly successful implementation was launched during a global economic crisis.

All of us don't know the main reason of Satosh why he/she make and develop bitcoin because at the first place we even don't know why he/she invented it because we don't know who satoshi and what the intention he wants. We don't have any chance to ask questions to him or her because no people says that they know who satoshi is. Maybe the faster transaction and less hassle transaction is one of the main reason why satoshi and his team invent or create bitcoin, for the people to use digital currency, and another reason behind it is maybe he knows that through the continues evolving of the world and technology they will already now that this thing will happen.

The reason bitcoin is made is that only the creator knows the answer for sure, and maybe the creator would never have thought it could be this big, because the use of bitcoin now varies according to the needs of each individual.
For me personally this is a good investment tool for the long term.

Several statements were put forth by people stating the cause for the existence of bitcoin. However this has served the people,and continues to make a big difference in the economic development and usage access. When it was created the vision might be small,but as days go the opposition from banking industry and governments portrayed how valuable and effective is the creation of Satoshi.

bitcoin and blcockhain technology have become a new breakthrough in our economic system. and I agree with you that Satoshi's main goal in creating bitcoin is to save us from the catastrophic global economic crisis caused by the banking system. and gives us freedom in managing and managing our money. and makes it easier for us to transact between countries in the world.

I am a little bit curious also on how satoshi develop bitcoin and what is his/their goal in developing it. As what you have mentioned, there is a big chance that it is true but I am sure that his/their intention in developing it is much deeper from your reasoning.

I love to really hear if in case satoshi leaves a note regarding on why he created bitcoin, is it to disrupt the banking system or he/they have certain goal from it. Did someone tell him to create it or is it funded by a government or a powerful organization then leave the team behind it as anonymous to make use of this opportunity.

Maybe because they want to make life easier with a digital money to use in everyday lives by paying btc in transactions. Bitcoin can potentially evolve and develop a country's economy because of its capability of becoming a country's currency. It is also a possible alternative to fiat so that you can have a safer bank although its price is volatile but can be preserved and wait for a higher price.

In my opinion it is true that satoshi created bitcoin as a virtual currency to free the world from economic disaster and in addition may have created bitcoin to advance technology and facilitate the public when making payments or making transactions because bitcoin is decentralized and peer to peer, which can be fully controlled by users when conducting transactions without central authority or other organization.

IfI am not mistaken this topic has already been discuss and most of us also believe that the 2008 economical crisis could also be one of Satoshi's reason why he/she created Bitcoin and gave us financial freedom.
Some of us thought that Satoshi is one of those who lose almost everything at the economical crisis.
But I think Satoshi have more reason other than that.

Yes not only Satoshi, but almost all of us were sick how government controlling everything, the banking system how they are controlling our money, wherein we are not allowed to transfer a large sum of money as there is a limit with it. Also, the hassle that we are encountering just to deposit/withdraw/transferring money, not that easy especially in poor countries that you need to travel far just to get your money. So, basically that's one of the reason why Bitcoin created.

Yes, part of the major reason for bitcoin creation is for people to have control over their financial lives than continuously have the evil banks lead people into debt and taking the people's financial power from them while the bankers live in affluence at the expense of the depositors. They create a financial crisis and seek a government bailout and loot the same bailout while the crises continue unabated.

Your perception is partially correct because at that time people lost their valuable money by some ill effect of the intended economic crisis, That even was really a predetermined because of the stock market, I think that's why Satoshi was taken this type decentralized monetary system, It's true that Bitcoin is still passing the critical time because people are not taking it seriously for only this reason, but I think Satoshi has made this Bitcoin only for creating a new thing for the monetary aspect, he thought people would accept his creation for their own interest, some people are still manipulating this system.

If the reason was about the economic crisis status before then I wouldn't disagree about that. But I remembered one time reading an article (Just forgot the website where I have read it) that it was triggered to create to support some illegal activities which I strongly disagree.

Since it makes people more convenient now to control their money thru btc because of the elimination of third parties but I am very positive that Satoshi created this because he wanted the P2P to be known and will eventually changed the usual way of financial control.

Whatever the reason is, bitcoin's purpose has been beyond expectation today and Nakamoto achieved what was his plan at the start.

The vision put forward for the emphasis of long-term decentralization aimed at the single currency in circulation is not under the control of any government policy. Indirectly, the system will prepare bitcoin to anticipate the possibility of repeating a dirty conspiracy in the corridor of a centralized control system. Bitcoin is still always inseparable from manipulation, but this is only part of the process which is ultimately aimed at stability and equity.

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 than bitcoins largest premium evaporates supporting it's 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.

I would put my opinion on this as I understood from the Introduction in the Bitcoin Whitepaper [1] (https://bitcoin.org/bitcoin.pdf). The objective of Satoshi Nakamoto is that the need to have a cryptographic based electronic payment system instead of the trust that is usually given to the middlemen. No more third party. I don't think there's anything more to say because the objective is clear on that one.

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[1] - https://bitcoin.org/bitcoin.pdf

Exactly, that was the reason. I would only add that motive was probably disappointment with traditional financial and payment systems and Satoshi wanted to offer something new and different, some alternative and people recognized and accepted that. For all these reasons cryptocurrencies and Bitcoin can only grow and develope further.

It could possibly be, because of the emerging technology including financial technology, bitcoin is meant to be created, it is just that, it has a very special characteristics that will make the people even more secured, anonymous and efficient in creating transaction compared to digital money managed by the banks particularly the fiats.

But with these characteristics, there's still allot to discover that isn't included in the whitepaper which is solely be based on our experience to figure it out.

Satoshi felt the need to invent cryptocurrencies, like any disaster won't affect cryptocurrencies, the give and take of bitcoins will be continued. People started believing in cryptocurrencies as there's no third party involved where people can actually rely on. There's no master-slave connection in crypotocurrencies, so people don't have to wait for something to come from master. They can directly have an end to end connection.

I agree with this. Some people including you use Bitcoin as a long-term investment, some use it to gain profit in daily trading, some use it for speed of sending global scale money, and I use bitcoin to buy illegal goods such as AKM and marijuana. and those are the benefits of bitcoin. It doesn't matter why Satoshi Nakamoto made Bitcoin. the most important thing is the benefit for every individual who uses bitcoin.

Bitcoin did not and will not save the world from economic disaster. The number of cryptocurrency users at the moment is too small to globally affect the situation. At the same time, since the creation of Bitcoin, the correct vector of development has been set, which will change the world in the future.

There is no such growth or fall in the marketplace and we people are looking for growth and at the same if the proper adoption over the bitcoins and blockchain technology.
We are waiting to get more investors so let's be patient and then we find the bump for sure.

Blockchain technology of bitcoin created for making many transaction payment looks easy and faster than using fiat currency payment, whit using blockchain as payment currency give much benefit for one country where bitcoin and altcoin never have way for inflation price and could be dump suddenly like other fiat currency can be drop price several years later.

The reason for the existence of bitcoin is quite simple to have a form of money that you can use without a middleman, however even if it was not the intention of satoshi his creation is going to weaken banks and the control they have over the economy as time passes and that is a good thing since they have grown too powerful over the last years and it does not seem like governments want to limit them and if anything they are helping them to become even stronger.

yes, I agree with you, actually nobody knows for sure what the reason satoshi made bitcoin. because until now no one knew the true identity of satoshi nakamoto. clear bitcoin was created and released after the world experienced a global crisis in 2008. so in my opinion bitcoin is made due to disappointment with the banking system that caused the world to experience an economic crisis and create economic disasters in several countries in the world.

The Big Short. This film made it easier to understand for those who don't have any idea what happened back then.
It was the collapse of the Lehman Brothers which started the fire.

Back to Satoshi, yes, he might have seen that and want to act for the case to not happen again.
The good thing is, he knows what to do and he had the guts to make it happen. Which he did and we are seeing it right now.
Those might be the main reasons of why he discovered bitcoin and we are the ones to pursue what is next for it.

In price yes bitcoin holder can be affected for every news eighter bad or good news. But to hold your own money without the help of any 3rdparty like bank is the way bitcoin holders like it,They are prefer to price volatility and of course hoping to also earn.

You reason for the creation of Bitcoin is valid but i believe there are more reasons why satoshi created Bitcoin. Beside trying to create a boarderless currency with no central bank control, the speed and flawlessness of transactions made through blockchain i think was also considered. Whatever the reasons might be, Bitcoin is here to stay and make great impact in the financial space

Bitcoin was created for banking failures in managing the world economy.
That is where the idea of bitcoin emerged that almost all sectors have advantages compared to the system offered by banks.
Including transaction time, private transactions, can not be interfered by anyone, and also the convenience to be owned by everyone.

Fortunately you can skip LN altogether. If you don't like it, don't use it. Its optional and i don't think most should ever use it anyway. Most payments don't have to be "instant", you can pay in advance, or buy online and wait confirmation. Wire transfer always takes longer.

The 21 million cap is what ensures the coin will keep its purchasing power overtime, unlike fiat money which always loses it. With this type of money, Central Banks are no longer needed, since fractional reserve bank practices should not be protected and people using banks becomes optional as well.

Bitcoin is the liberation of money from the State. In fact Bitcoin is free from the world economy altogether, unlike the fiats chained to the economies of the countries they represent.

I don’t think Bitcoin can solve financial problem of the world, as its never meant for Banks and other centralized financial institutes. From very start Banks do not like this payment system and have opposed it. Whatever the motivation was, the good that benefit every user of bitcoin is the peer to peer money transfer. You can transfer without any intermeditory and at any time.

This is really a dangerous perception about the reason you use bitcoin as it is a transparent coin and you will get into trouble if you are dealing with illegal goods in your country as you can be monitored and why mess up your life, i am sure the market will get rid of the illegal market when regulations sets in and the market is so transparent that everything can be monitored and can be attached to you at a later time. The purpose of the creation is simple, to have a decentralized market away from government manipulation.

Yes, that could be one reason. Outdated, monotonous systems do need to be improved. Just as nature and the earth evolved, economics and technology can also experience it. And Satoshi as the initiator of all of this, the highest appreciation. Economic independence for individuals, without any third party intervention, with a new and safe system, is a pretty good offer, although there is a risky side due to high volatility and unrecognized regulations. We just need to take advantage of good opportunities, don't think too much about what's not important.

The reason why bitcoin is created, for me it is not important that much, what more important is, I can manage my own account in my wallet. And if you are right that satoshi created bitcoin so that there is no 3rd party then maybe that is one of the reason as well as others thought reason. If ever or whatever it is, as long as I can use my bitcoin and uses it a lot for convenient then it's already fine with me.

It is also possible that Satoshi Nakamoto was one of the victims of the economic disaster, so Satoshi decided to make bitcoin in anticipation of where the economic crisis occurred again. but surely, with the development of digital technology as it is today, people must have their own opinions, and in essence, bitcoin has helped many people to gain financial freedom. we as lovers of bitcoin, help bitcoin to be accepted throughout the world as a digital currency that is suitable for use wherever and whenever.

I think it isn't important anymore whatever Satoshi's reason behind creating BTC.
Satoshi didn't also give us a reason why he/she create it and it wouldn't change a thing even if we find a reason why it was created so why bother finding out?

every opinion on this one will be count in because satoshi never mentioned any specific reason why he create this ,either to really help people or to help himself who would know?

but as far as this is helping us and we are benefiting from crypto,let us be thankful for what he did and gives us.

I share your point of view and add that it seems to me a more economical and simple way to migrate currencies to any country in a matter of 30 minutes, I also like that it is much more anonymous. It does not require identification that compromises user privacy. It is deflationary, many billionaires give advice on how to achieve an empire and all converge on a key point: Invest in something that takes upward value, such as noble metals such as gold, maybe diamonds, but this can be done with the bitcoin without worrying about the details of investing in goods (does not mean you should not do it too)

2008 financial crisis was fiat baby child and was solved by fiat. Bitcoin was launched in those days but it didn’t help in eliminating that crisis. Motivation of Wright brothers was not to create today’s deadly fighter planes, like wise I think Satoshi might be working on this project to create a financial system that can help in p2p funds transfer.

In my opinion the bitcoin is a new revolution for economy because it is a crypto currency so the transaction will be fast and you can do it from home plus it is decentralized so it is not controlled by any party and it help simple people investing their money and it is a great contribution to economy.

Virtual secure decentralized money has been a long sought dream, there were various attempts before, some of which ideas were used as building blocks for Bitcoin. 2008 happened but I'm willing to bet that was coincidence. Besides under the dominant school of economy, another 2008 will occur.

The financial freedom dream was only possible for the minority that trusted the project at its earliest stage, it is no longer the case, you can no longer buy bitcoin and live of it. You could in 2010 if you bought and waited (some people couldn't wait and sold). But you can no longer do the same now. While bitcoin does not lose purchasing power, it doesn't increase "itself" as much as to provide a means of living.

Its still a good coin, and keeping your savings in Bitcoin ensures your wealth won't disappear overnight, no matter what happens to the world (in the inevitable next bubble pop).

You don't have to be a genius to know the next one will come because the current system of debt, credit expansion and fractional reserve ensures it comes. The Austrians (Mises et al) have have been telling us for a century, they even predicted the crash of 29. And yet the fools still pay attention to the Chicago school, because its great for short term, and politicians are always about short term profit, lets pass the bomb to the next fool...

It might be a reason behind the creation of bitcoin but we will not know the exact reason until and unless satoshi is found and asked about it. Though it is not possible. I think, satoshi might even have created bitcoins to create a currency for anonymous peer-to-peer payments without involving any third party and that might be the reason why bitcoins are been used in most of the illegal activities carried out.

Actually speaking, i do not really think satoshi might even have considered thinking about banks before he created bitcoins. He created bitcoins to overtake banks. He might also have not thought that bitcoins will get such precious in the coming future with the huge price growth.

There is no specific reason stated by Satoshi why Bitcoin was created by now it serves many purposes as a store of value, decentralized payment and can as well be a tool that can be used for the bailout in the current financial status. Its usages are still undermined, for now, most especially blockchain technology, but the future will tell

Banks have now been technically developed giving the ease of easy money transfer, etc but I do not think in the year 2008/2009 banks might have been this advanced which really caused a lot hectic in terms of money transfer of accepting over nation boundary payments. Banks might seem convenient for transactions between the borderlines but what above nations? Bitcoins have no such restrictions and this might be one of the major concept satoshi might have though before creating bitcoins.

Satoshi never wanted us to have any restrictions while using our own money and also it does never ask for us to pay any taxes so it goes way lot convenient for peoples who technically understand and transact with digital currencies.

Actually there is, if you have already read the white paper of Satoshi upon creating bitcoin, you could see that it is a peer to peer network to allow people to transact even without the need of anything, anyone, or any entity. Though, we are in a continues phase of development, we are continuously discovering reasons why bitcoin is created because of the fact that we, at the same time discovers function of bitcoin that aren't stated within the white paper. One example of it is for investment and trading that provides profits.

Well, saying bitcoin as a new revolution for the economy seems like something too big because bitcoin is probably a quick payment method but it's still not fast enough compared to other payment methods, it even takes more time to confirm, plus the loss of control from it, the government has refused to apply bitcoin to the economy. Therefore, the reason behind creating bitcoin is probably an investment idea, creating a world without too many rules, a market where people can optimize making money without the government

Not to be a conspiracy theorists but I think it couldn't have come at a better time. I really don't think Satoshi Nakamoto is one guy (not to discredit him in any way) but a group of like minded people who created this technology to insinuate change. The part that gets me is the fact the whole project is open source and nobody has touched the Bitcoin wallet, the funds are still there.  :'( Spooky if you ask me, because great acts of selflessness and generosity are a rarity in today's world.

With how you see the main cast between this project, it's really something that can be assume that there's people around this and not only a single
person who created the system itself. But due to common interest and good working value they've brought something unique and useful to the mainstream
society that we are all enjoyed to use.

Bitcoin is not only the result of an economic response. You need to investigate the Cyber Punk movement. For years, people offered different arrangements for money. But for a more livable world, a fair distribution was needed. Existing power owners did not want to share this money. Economic status or social status is very important for some people. Now an alternative world can be created.

Satoshi started working on Bitcoin long before the financial crash. His drivers were developing technological tools for governmental and monetary 'Change' loosely aligned with the cypherpunk movement.

Think about how hard it was and still is for normal people in authoritarian and corrupt countries / systems to fund and drive change for the better of the masses. One of my favourite Satoshi quotes:

It should have a reason and enough for the creator to think differently based on his ( Satoshi) market experience. It eventually escalates the system and has a huge effect on the market side and as well as how it helps to improve the economic system globally.
We have already witnessed its applicability and quite satisfying that everyone could adopt and use it regularly as another option over fiat money.

in my opinion, bitcoin is made because of the increasingly sophisticated world of technology today, so we also need transactions that have technological advances, and are digital, and there are no third parties, so that is made bitcoin, a trusted digital currency .. !!

many reasons for making crypto (bitcoin) besides the reasons you mentioned, Bitcoin is one of the implementations of perfect transaction security. network transactions quickly, and maintain user privacy. in general, with the currency of bitcoin, all countries will have equal values. but this is not easy, because large countries do not want to lose world economic power. yeah, you are right. bitcoin was created to prosper all countries, so there is no economic pressure on the weak.

I think the reason for the creation of bitcoin is to create a decentralized currency that provides privacy, transparency and freedom
to control our own money. So with bitcoin we eliminate third parties like banks. So it is more efficient and effective. It has been
proven that being created with bitcoin has made a major contribution to the world economy, many people who know bitcoin can
improve its finances. Because excess bitcoin can generate profits if used trading.

It is really doubtful that satoshi created bitcoin to try to benefit himself, if that was true then he should have cashed out some of the coins that he has in his wallets, but he hasn't done so and he has not touched his coins since the day he left, most likely he created bitcoin just to prove himself that he was capable of doing it, after all something like bitcoin has been the dream of many people for decades and it wasn't until satoshi created bitcoin that those dreams came true.

right, satoshi certainly still keeps a few% of the total bitcoin available to maintain balance, of course if he just wants to be rich, then when prices are at the peak yesterday he has sold everything and become someone who is financially free, but there are big goals in creating bitcoin besides that

Re: The reason behind creating Bitcoin.

To accelerate the development of quantum computers.
Satoshi mined a lot of Bitcoins to P2PK addresses and didn't transact them to quantum resistant P2PKH addresses.
Why?
He knows that whoever can build a quantum computer will be able to get these coins.
An incredible reward.

This is a fascinating conversation, it would seem that he satoshi made bitcoin for an explanation likewise with the emergency issue in 2008 and it bodes well not a long way from the dispatch of bitcoin, yet whether bitcoin is really ready to supplant the presentation of banks that have been in power everywhere on the world at that point welcome all individuals to have banks for themselves utilizing bitcoin, this explanation bodes well.

There can be an enormous reason to establish BTC. Some of them are available from banks over maintenance. Economic development is a prominent validity to establish cryptocurrencies. Satoshi feels the importance of having a turning point that's can formulate the world simpler, faster, closer for the investors and financial persons. It virtually provokes the possibilities of decentralization of money. It is a portion of Globalization that compels the economy more versatile.

Or maybe, Bitcoin was really meant to be created because of the advancement of technology. Based on what I observed, bitcoin started the revolution for digital currency. Currencies that are immutable and transparent, maybe from the beginning we can see banks showing signs that they are against bitcoin, but as time passes by, the saying "If you cannot beat them, join them" is what the current financial system is doing. Perhaps, they are implementing various systems that might not beat bitcoin, but to somehow have control over it. So for me, the reason why bitcoin was created is for people to think, and to strive to achieve the freedom to control their money. If we are going to allow the financial institutions to enter bitcoin, I don't think we really understand the reason why Bitcoin was created.

Maybe it started with Blockchain Technologies since that is where Bitcoin is mostly developed. It also started when people wanted a way to pay anybody without cash and that might started Bitcoin thus, the Cryptocurrencies. At first it was not expected to blow up since some guy bought some pizza with a lot of Bitcoin but as time passes by, Bitcoin is dubbed as one of the best creation in the digital world..

I still believe that Bitcoin was created by the banks as an experimental project  to test public opinion in preparation for a reset of the failed fiat systems. The mining cap, and the long block generation times were designed to prevent it ever having mass adoption as an everyday payment system. It has been a stunning success, and now the bankers are busy soaking up all the coins they can find to further reduce its appeal, and to make massive profits. This is great news for those of us who are still riding the wave.

Maybe Mr. Satoshi Nakamoto also foresaw that bitcoin will be a big help for the future and might even be the future currency for all over the world. He manage to know what bitcoin can do for the future because it is very easy to access and transfer to the point that you can transfer money in just a minute. If you can realize, a single human being can make the future better then you can also have a good future for yourself. Everyone of us has a different dreams but all of us wants to earn and bitcoin is the solution for that.

Bitcoin was created to provide anonymity, anti-fraud, and fast money transfers. Currently, the anonymity feature has been taken down from the Bitcoin referral website because we can get the send and receive addresses. Bitcoin's rapid pace also makes a difference because there are too many people using bitcoin and that creates congestion.

Before the advent of Bitcoin, there were many studies related to the creation of Blockchain. It was Satoshi who brought the ideas together and created Bitcoin. Even though the technical problems of Bitcoin have been seen so far, I believe Bitcoin continues to be the best cryptocurrency to use.

BTC was intended to be a computerized money. Its highlights anyway are simply implied for the control of focal power and I surmise Satoshi was one of the individuals that were tried during the 2008 monetary accident that is the reason he delivered it. Presumably to keep the accident from repeating again on the grounds that it wasn't only the first occasion when that it occurred.

i believe Satoshi Nakamoto wanted to create a “trust-less” cash system. Satoshi explicitly stated that the reason for creating this digital cash system is to remove the third party intermediaries that are traditionally required to conduct digital monetary transfers.

This is a very informative answer and would like to impart it as my knowledge to when people ask me about why Bitcoin was created. Its a logical answer since it evolves our financial system into a better one and its being utilized greatly in this time. It also tackles some of the flaws that physical money cannot do before.

It should be trust ted not trust less because millions of people trust btc and if it's labled as trust less no people will be curious to use it  . Middle men is removed but people that use btc and are scared to transact big funds from a P2P market , they are still looking for trusted escrow before they make the transaction  to the other people.

nice facts but nothing have changed , btc was still a computerized or a digital money  or you mean to say that people use it not as money but as a money making machine ? There are

We need fo ask satoshi about that.
Any background story could be possible to be the reason why bitcoin was born in 2008.
Even a conspiracy theory, new world order, can fits this question.
However, one sure thing is bitcoin was born to be a peer to peer electronic cash system (bitcoin wp title).

Yes, you're absolutely right. Bitcoin was created to be decentralized currency free from the control of banks or any third party.
Bitcoin was also created to provide its users with anonymity, transparency, anti-fraud and quick transaction time.
Just like many have mentioned already, I believe the reasons bitcoin was made are the benefits that we now enjoy.
I'm sure you'd agree with me that one of the disadvantages of banks is the slow transaction time. It takes days, sometimes weeks, to send money from one country to the other. Something that is now possible in minutes, if not seconds, sending bitcoin.
Anonymity is another advantage we enjoy. Transactions now do not need personal details to be successful. What is needed is simply the bitcoin address and all is done.

besides that, the times have also increased human needs. the problems in the financial system also contributed to this revolution. so this is the accumulation of many things so that new innovations for efficiency are created in accordance with technological advances and human needs.
well, there are definitely advantages and disadvantages. be wise in addressing this because no system is truly perfect. take advantage of the opportunities that exist in crypto as best as possible, adjusting to your individual needs.

BTC was proposed to be mechanized cash. Its features at any rate are essentially suggested for the control of the central force and I gather Satoshi was one of the people that were taken a stab at during the 2008 financial mishap that is the explanation he conveyed it. Probably to shield the mishap from rehashing because it wasn't just the primary event when that happened.

The creator of bitcoin truly study the world economy very well to discovered that such currency will help humanity positively in the world. 
Bitcoin is almost legalized in all countries of the world which citizens are using it to grow their business and other family issue. many government are encouraging their youths to engage their self in bitcoin investment and other cryptocurrency business.
Satoshi Nakamoto really believe in his research that if such digital currency is create in the world,it will help some countries to grow their economy to be more surplus to the people and also reduce unemployment in the world. Many who loss their job during pandemic thinking all hope is loss until someone impact them about bitcoin how to use it to invest and make a good profit.
I think the reason why Satoshi Nakamoto created bitcoin is to help the world fight unemployment in the world.

There are different versions of why Satoshi Nakamoto created Bitcoin.  

According to one version, Bitcoin is a virus for the modern financial system.  Bitcoin is deflationary money.  This money can destroy the modern financial system (which is essentially an inflationary system).  

A witty description of the possible consequences of such a virus:

https://www.reddit.com/r/Bitcoin/comments/1lfobc/i_am_a_timetraveler_from_the_future_here_to_beg/

We don't know who Satoshi Nakamoto is.  His real identity has remained unknown.  

However, is it possible that Satoshi was a professional hacker?  Then, is Bitcoin the most advanced computer virus in the world?

This assumption is just fantasy.  "Game of the mind".  Don't take it too seriously. 8)

creation of Bitcoin, by the nakamoto, was something that changed the whole world. the thing that i like about bitcoin is how they didn't got disappointed at first continues their work for 3 years until they found their first customer.
however i would really like to understand why he created such a perfect coding. that is the mystery of the world

I lived the first days of bitcoin.
The true reason is stated in the first mined blocks.
As a one the first few thousand users ever, i used it for fun and payments. (donations, faucets, subscriptions).
Many of my solo-minted bitcoins are lost forever (donated, or wallets created just to do some tests).
Back in the day, the community had to defend against 51% attacks and many tried to read and improve the code. (i remember setting up a computer farm just to defend the chain while staying up with a friend doing diagrams of the blocks)
I really like blockchain and i do think it's something that will mark the 21st century.
On the other hand, seeing fund-managers and multi-billionaires cheering for bitcoin causes me nausea.
Many (myself included) never accepted the status quo of our era, usage of our own money through our own payment system was a way out. No-one ever intended to ease corporations.
As years pass by, I question many things and at this time I have concluded that shrinking supply is unfair for new generations (first come first served is not optimal).
New "boomers" want to dominate the digital space by the "I was born first" or even worse "I have more currency" right.
That's not what shatoshi envisioned (digital and private cash). 
So, to sum up the whole creation was a movement from the people, for the people, through the people in the face of central banking establishment.
Blockchain, as bitcoin showed us all, should free ourselves from the central bankers’ policies.
Love it, share it, improve it...

Whatever the real reasons of Satoshi in creating bitcoin, for me its loud and clear that the purpose of his awesome creation is to give the people around the world a much easier life and the financial freedom as often mentioned by others here. We will be forever grateful for this smart and brilliant creation that gives us more earnings/profits beyond our expectations. And I strongly believe that the trend and popularity of this great digital currency will grow more stronger and widely used across the globe.

Bitcoin's journey began the year after the global financial crisis of 2008 The digital currency was introduced by capitalizing on the cracks in people's faith in the current monetary system due to the recession. But there are many secrets that no one knows. the creation of Bitcoin has created a stir all over the world in the case of decentralized exchanges people can transact very easily and now this crypto market is further improved through blockchain technology. Although Satoshi Nakamoto is the father of Bitcoin no one is able to tell the real secret.

Although from my views, I captured that bitcoin is been created to help world entirely, most especially economy of a countries because adventuring into bitcoin with funds it will really render help to speed up some countries revenue, because it's decentralized currency formats and know one come in control of it increments and downfall, so satoshi really contributed immensely into a source government can develop with easier form.
Even individuals who are transacting with cryptocurrency especially bitcoin make a lot of profit via trading while using a smaller amount of money to adventure into it, provided that government make provision of finance for trading on behalf of her country via trading, I hope such country won't cry for economy crisis or downfall.

There is no specific reason behind this but one thing is sure Satoshi want some better security and indepence so he done this all for us now thousands of member in this community can go through just because of this bitcoin and achivement their targets just because of bitcoin otherwise we have many serious issues with other financial institutes and their policies.

We all make botches and we are all driven by sentiments checking enthusiasm and torment.Bitcoin is also came from different experiences, A number of people are dried for control fundamentally due to the loathsome instruction they've gotten when they were little. I do acknowledge that Bitcoin has been made with the more essential extraordinary in judgment skills. From any angle Bitcoin is the coherent choice and another pass to make inside the start of a show day period driven by advancement movements.

I once read an article that actually Bitcoin was only famous among gamers...
correct or not please correct me; *satoshi consciously created Bitcoin just to make transactions between gamers easier. btw, I never really thought hard about what satoshi's goal was to create Bitcoin, which I know Bitcoin is a future decentralized asset that will be very valuable and independent.

Decentralization and free of control from any third-party institutions.

The creation of the blockchain technology gave birth to bitcoin which serves as a currency which cannot be altered or modified. Imagine this scenario for its application in real-life: you are in a supermarket and you see an orange for sale. After going to the counter, the barcode was scanned and you saw its price together with all the modifications/processes done to it. This information posted cannot be altered since the blocks are being checked every single minute on the transaction.

The birth of bitcoin is one of the revolutionary technology which has the potential of MAYBE(?) replacing the modern fiat currency in the fat future.

No please. Blockchain technology does not exist! Blockchain was not even mentioned in the bitcoin white paper but rather satoshi described that "The   network   timestamps   transactions   by   hashing   them   into   an   ongoing   chain   ofhash-based proof-of-work, forming a record that cannot be changed without redoing the proof-of-work."
Try to find any mention of blockchain technology in the whitepaper...