Bitcoin Forum

He made Bitcoin so you could escape enslavement by the financial system. Satoshi gave you life, he gave you the power to control your destiny!

It's easy to lose sight of the real purpose of Bitcoin during these bearish times. I felt the need to give that reminder.

Thanks for the reminder...

Do you feel more free? Please explain.

I run a business that deals mostly in the internet, so most of my money gets middle manned by paypal and other payment processors. At the moment about 20percent of my users pay in btc, so i can easily see a future in which all online payments are conducted in bitcoin. I can understand why you cant see the potential of bitcoin if you dont conduct business on the internet.

I don't need to have a business to understand the potential... Thanks, but having a business online does not make you special.

Are you controlling your own destiny? Tell me how you still go fiat.

I would think that whatever were Satoshi's intentions, they don't matter.  Bitcoin is now of the people using it, and if they have other purposes and intentions, that's what counts.
This is also the answer to "was bitcoin a pump and dump" ?  Maybe it was intended that way, or maybe not.  And maybe it will be used that way, or maybe not.  But what was the initial intention, and what will be the actual usage, has nothing to do with each other.  Once the genie is out of the bottle it doesn't belong to the bottle anymore.

Yeah, the price is not important

The purpose is never important in live, remeber that. Just the fact he made it and we're getting rich because of it, that's all what counts. But how could you know satoshi had any other purpose than getting rich? You don't even know him.

Welcome in todays world, where peoples first priority is to get a financial benefit  :)

Most inportant reasons for me to like Bitcoin :

* Avoiding shitty and costly pay services such as Paypal, WU, etc.

* My money is 100% mine. I can spend it when I want, and how I want.

If his white paper is believed,  his purpose in creating bitcoin was to create a completely irreversible payment system.  Any other purpose you may feel has "been lost sight of" never existed in the first place outside of your own imagination. 

And can we not escape it by becoming rich?  :D. I jest, I'd much rather everyone used it to get away from the corrupt banks, but this will take time if ever.

My life is exactly the same post-Bitcoin and i wish i was one of the early adopters, now that is a life changing experience.
Most people running btc businesses are dumping for fiat anyway (see overstock).

My only hope is the price goes insanely high in 10 years, then maybe my life changes enough for Bitcoin being a thing i'll remember for life.

As far as corruption goes.. you could lose your money because of a corrupted bank, or lose your bitcoin because of a corrupted business or because you lose your wallet. Thats just bad luck.

I want to add something :
Yes maybe we both is not bitcoin early adopter , but there is some guys who become early adopter and still not rich because bitcoin too.
Dont let our self down because of that , mining with small fund will not give us profit , the only ways we can get rich by bitcoin is trading but we know about the risk its same like gambling.
Or we can buy bitcoin now while price is between $ 300 - $ 400 , and keep it in our cold wallet for safety.
Like you said before , you hope price will go insane in 10 years , but i think price will go insane in 3-4 years ahead.

Cheers and Peace  ;D

Yes he did.

For real.

The potential to earn money is why most of us are here. Bitcoin would never amount to anything without it. That is its very purpose, or at the very least a required gateway.

Careful, that's blasphemy around these parts  :D
Why, you almost sound like a banker!  :o

Having Bitcoin is a win-win, you escape fiat and have a increasing purchasing power.

The phase where nerds got rich is now over.
You can say "Bitcoin" on the streets now and there will be a sign of recognition on most people's faces. It may not have reached the phase where the common Joe is comfortable using it to make purchases, but we are getting there.

There is no fair way of initially distributing a new kind of money - specially when most people start out not knowing, or thinking it is shit money. Specially when the powers that shouldn't be works against it as hard as they can (yes it is as hard as they can, they can't really resist it harder).

Save yourself and have a nice stash of coins. It is work - mind work. I think I deserve mine, it is not as I have tried to keep the knowledge as a secret.

Plenty of estimates have been made as to the final value of one coin. My personal conservative estimate is $100k with a million as an outside chance. Theoretically it can go higher but no need to get ones hopes up. Others say $300k. Even the 40k the Winkles estimate would be plenty to make someone "rich" depending on definitions.

We are not done yet. Not even close.

Even if this was true, then the bitter truth is that most ppl and capitalism do not give a shit about his intentions. Real purpose of national socialism in Germany was not to kill Jews as well. Who gives a fuck about real purpose. Almost nothing in this world ends in a way how the original plan. Bitcoin for sure will not end like that. So what?

And in return for embracing satoshi's idea, we've become a more wealthy online population.
That's the reward for enthusing what you believe in!

i assume satoshi wanted his invention to get adopted large scale. this can only happen if 1) coins get distributed far and well and 2) coins must be able to absorb a huge market cap in order to be used widely. current btc must get WAY more valuable to reach those goals. as a side effect, earlier adopters profit a lot. it is a reward for having the guts to step in early. i don´t think satoshi minds btc users getting rich.

Yes, I think the same but I don't think the "speculators" will be happy ,because more people have bitcoin and more the price of it will drop. I think my thought is right , or am I wrong?

People are already reach, morale talks won't change it.

Correct, you are wrong. The top 100 and 500 addresses are growing. This means the available supply gets smaller which means the price is higher than it would be if they didn't increase their stash. I only have low double digits myself, but that's plenty to increase my stash over time. The more people do this, the less distributed the coins will be, the higher the price will go. And it appears that most people don't know this so it won't even be a psychological obstacle.

Finally someone with brain here!

It is interesting that those top addresses grow. I fill one address and then move to another. I would guess most people do the same as me. Therefore  BTC ownership might be even more concentrated than it seems. Gini coeficient in BTC world will be much more crazy than in real world.

Everyone should remember for his own good: money that do not touch the market are like nonexistent. That is btw the only reason why we do not see hyperinflation in real world with fiat money. They are printed, but do not go to real economy, so prices can even decline.

I guess you should remove Satoshi from the equation before you look at the Gini coefficient.
Inequality is definitely higher in the real world.

99.99% of people own 0.00000000 BTC

Sorry I wrote where I missed word "recent". -> Gini coeficient in BTC world will be much more crazy than in recent real world.

If BTC becomes a world currency (and I am betting on the high odds that it will), the BTC monetary system (with even bigger holes in collecting taxes) will encourage even higher concentration of capital + there will be always the group of... aehm... us, who will not need to workand our descendants as well.

I do not see any reason why the BTC should be more democratic, equal etc. The idea that everyone will mine for himself is gone. What is left is idea of unregulated capitalism with unregulated currency. God with everyone.

At the end all we know : bitcoin was not created to overcome poverty , it was created to reappropriate the private property of the money.

i agree

Yes. Leftists will scream again about stolen revolution. Conspiration lovers will talk about Bilderberg. Rightwingers will desperately try to make 1 Satoshi during whole life to get higher on social pyramid.

Life as usual.

I bet by using btc you saved a lot on the fees. Coupled of years back around 2012 when i was accepting large payment for sale of items i should have thought of using btc. But then can't blame myself cause btc infrastructure during then wasn't as good as today.

Oh really? Well he didn't make this nerd rich  :-[

At least youre still rich in opportunity. Just hang in there, save all of your value in btc and you will be rewarded greatly.

Maybe satoshi thought it would be funny to make a bunch of nerds rich. Regardless, We have all the opportunity in the world right now.

Johnston's law says, "If it can be decentralized, it will."

That means everything. That means we have the power to be whatever we want. If you wanna be a politician, start designing voting protocols. If you wanna run a hedge fund and play the global markets, start learning trading bot programming. If you wanna be an economic policy framer, start designing coin distribution protocols. Bitcoin was just the proof of concept, "if it can be decentralized, it will."

You have 2-5 years to choose your fate.

I'll do my best, every satoshi counts

Or maybe he did? How would we know?

This is the post snowden web, if you have vision, follow it.