Bitcoin Forum

Good day everyone,

 let's talk about Bitcoin again on these occasions. In the banking crisis in America, many banks collapsed due to the continuous increase in interest rates. Inflation is still high, and this is also the situation why Bitcoin was invented to prevent this from happening.
And it's just sad that most people don't know this, because they only look at Bitcoin as a speculative asset that increases in price and many buy when it goes down. But they don't understand the purpose. So in this conversation, we will find out why BITCOIN was invented.

Let's start, in 2008 the world experienced a financial crisis and it started in America. And because the dollar is everyone's reserve currency, our financial system is interconnected. So when there was a crisis in America, everyone was affected. And one of the reasons for this is the housing market bubble where housing prices have increased. Due to the loss of the bank's lending practices. Aside from that, banks issuing subprime mortgages and investing in complex and in financial instruments known as derivatives are also risky practices. So when the banks started to collapse then it created a ripple effect throughout the financial system. This was followed by the collapse of the stock market which led to a global recession and many people lost their jobs and homes. Here many people saw the vulnerabilities of the financial system that is built on trust and it can happen again in the future, which is what America is experiencing now. This is also the time that Bitcoin was created by an unknown individual group or person with the pseudonym "Satoshi Nakamoto". And its whitepaper was published the same year and the very first transaction took place in January 2009.

Bitcoin was created with a vision, that the people of the world have control over their money and their financial lifestyle. With Bitcoin, there are no central authorities or governments that control the money supply. The supply of Bitcoin is fixed and every bitcoin that enters circulation takes place in a process called BITCOIN MINING.

The main problem that Bitcoin wants to solve here is the "Issue of Trust" our current financial system now depends only on TRUST. Since gold no longer backs up the dollar, our monetary policy is too reliant on centralized authority like a central bank. This is the one that has control over the money supply and set interest rate and this is where the problem arises. Like Inflation, this is the event that increases the price in the market even services, and the purchasing power of our money weakens. And if we compare with the past times, the price was cheaper before. One of the main reasons inflation occurs is because there is too much money in the economy. When people have a lot of money there is more demand for goods and services, which causes the price to go up.

When the interest rate is low or almost non-existent, it is easier for people to borrow money from banks, businessmen, entrepreneurs, and many others. When people have a lot of money, they want to spend money, spending activity will increase, and the demand for goods and services will increase, causing the price of goods to increase. And that's the problem because prices are increasing, but the value of people's savings is decreasing, and wages are not increasing, so the purchasing power of our money is weakening when the supply of our money is increasing. Because of this, we will not want it to end up in "Hyper Inflation" which has already happened in other countries. So when the FED notices that inflation is rising, they have to raise the interest rate, so that the demand for people's spending decreases, and they can't simply borrow money from the bank because the interest rate is high. When no one spends much, there is no demand for goods then the price will go down.

Another problem with monetary policies is asset bubbles, when the interest rate is low it can cause more speculations and asset bubbles, the price of real estate or stocks becomes over-inflated and let's include crypto and when the bubble bursts those who bought the market hype are the ones who will lose.

Another problem with the current monetary system is the DEBT CRISIS, when the interest rate is low, individuals or businesses can take on debt, which will cause a debt crisis. Because when the borrowers are unable to pay their loans it could lead to widespread defaults and bankruptcy which in turn will lead to a financial crisis.

So in this system, the control is in the central entity, just one mistake in controlling the decrease and increase of interest rate disaster is the result. If you lower the interest rate you will go to Inflation, if you increase the interest rate you will go to Recession. So there needs to be a balance, which is never done because inflation continues to rise and the time of the financial crisis is still coming.

And Bitcoin fixed this problem because it only has a fixed supply so there is no inflation, it cannot be manipulated by the central government. So many say that Bitcoin is money for people. But they don't see it because they only think of Bitcoin as a speculative asset or risky type of investment. Bitcoin is more than just a currency, it can revolutionize the entire monetary system.

Because with Bitcoin we can take back control of our financial life and it creates a more fair and equitable world. And it is secure to financial institutions because it uses a decentralized ledger called BLOCKCHAIN. A public ledger in that we can see all bitcoin transactions from the very beginning. In traditional finance, we cannot see that perhaps we can see something but this is the only thing they want us to see because they are the ones who have control over it. BTC is constantly being updated and verified by the network of computers all over the world, trustless and permissionless. The Fiat currency is considered an experiment since the 1970s and has not been tampered with by anything.

For thousands of years people are using gold as a form of money, it is a primary form of currency, even during ancient civilizations, such as Egypt and Mesopotamia gold and silver are considered money and it has been proven over time. Gold, because the government has no control there, cannot produce their gold because it still needs to be mined. Unlike Fiat currency, they can print trillions whenever they want it. with Gold, they can't do that, and the same with Bitcoin.

So if the FIAT currency is a failed experiment why don't we go back to the Gold standard? After all, this is the money we have been using for thousands of years. That means, it's been proven over time, well those in authority will not allow that. Because Fiat currency has another characteristic that Bitcoin and Gold do not have, a system of control. Remember money is power, whoever controls the money controls the world. Gold is a freedom money same as Bitcoin. BTC is only because its an internet money, it is suitable for the digital age, and as long as we have the internet bitcoin will tribe. Cryptocurrency and Bitcoin can be used as alternative money, but the authorities will not allow cryptocurrency to dominate. That's why they created their type of cryptocurrency the CBDC. The system of control is still the same monetary system, which means that what is happening to the Fiat currency today is the same as the CBDC. Because the system that will be followed is the same, the only difference is that they have upgraded the technology, which means it will still result in the problem that our village's financial system is facing.

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[1]What is Inflation? (https://en.wikipedia.org/wiki/Inflation)
[2]what is hyperinflation? (https://www.investopedia.com/terms/h/hyperinflation.asp)
[3]What is Bitcoin? (https://bitcoin.org/en/)
[4]what is Blockchain? (https://www.investopedia.com/terms/b/blockchain.asp)
[5]when does bitcoin start? (https://en.wikipedia.org/wiki/History_of_bitcoin)
[6]what is Fiat currency? (https://en.wikipedia.org/wiki/Fiat_money)
[7]what is CBDC? (https://www.investopedia.com/terms/c/central-bank-digital-currency-cbdc.asp)

People are very naive and selfish.  And they are not necessarily interested in what is new.  But rather in what could bring them an instant quantifiable advantage.  Being your own Bank sounds cool.  But that is pretty much it.  When you look at the average Bitcoin 'investor', they praise their investment as if they had their Bitcoin the traditional way.  Non custodial Wallets.  No KYC.  Writing down their own Seed.  So on.  They praise their Bitcoin that they bought off platforms selling you a Bitcoin they promise you that you own, but you never know when that Bitcoin 'you own' leaves your Wallet without your knowledge.  What is the point, other than speculative reasons, of purchasing an asset you do not own.  I see none.

Bitcoin is gaining interest and this interest is probably at an All Time High.  But, it still needs so much time before people truly acknowledge what it can do.  It will gain the most interest when users of today will start praising what Bitcoin can do for them when inflation gets really, really bad and people go desperate.  Until then, this community will just have a decent steady growth.  What Bitcoin is capable of doing is crazy.  The Fiat system is collapsing.  I feel like it is.  The Banking system is collapsing.  Do just I feel this way?  Bitcoin can be at least a temporary bridge between Fiat and what ever comes next (probably CBDC).  If this happens.  Bitcoin will gain so much traction!

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Regards,
PrivacyG

Merited you for the effort of compiling list of information for us.  anyway, it is clear that the financial crisis of 2008 motivates  Satoshi Nakamoto to create Bitcoin.  The failure of banks  contributes to the attribute and feature of Bitcoin.  I am thankful to Satoshi Nakamoto in creating  Bitcoin, the first decentralized blockchain technology that proliferated over the years and disrupting the financial institution giving more power to the holder than the banking system.  Without the creation of bitcoin, we maybe still under the grasp of this greedy financial institution and our money and transfers are still under their mercy.

A great piece of work OP, well done. I agreed on that part that we are moving away from the original purpose of bitcoin. One of the big reasons for that is the lack of adoption and acceptance of bitcoin as a currency but hey at least we are keeping and collecting bitcoin as an asset now and waiting for the right time.

We are still under our government and banks when it comes to financial activities, so we are not free until we can make full use of bitcoin.

I don't know how we are moving away from original purpose of bitcoin?

There are multiple use cases and people are free to use bitcoin with different use cases. You can not ask others to do the same as you do. Like a gun can be used to protect people or to kill people but a gun is a gun. Bitcoin is Bitcoin and it was not created to serve bad use cases but with time, many types of use cases will appear.

The adoption of bitcoin is good enough and I disagree with you that there is lack of adoption for it. You can say it about 10 years or 6 years ago but now, adoption is good enough.

He was talking about the adoption and acceptance of Bitcoin as a currency, not the adoption about Bitcoin as a commodities because both of them are different. Most of countries are accepting Bitcoin as a commodities, you can trade, buy or sell Bitcoin, but most of countries not allow their citizens to use Bitcoin as a legal tender where you spend it directly to buy something.

When you use Bitcoin as a legal tender when your government doesn't allow it, that's considered as a crime for them.

Playing with interest rate is like a short term but quick remedy to the inflation rate, it is not an actual solution though. This is why we are seeing the attempts to lower the inflation by increasing interest rate by the FED is starting to fail and inflation stays up.
To solve inflation the government simply has to stop printing more money! But they can't do that because they have already run out of money to spend, so they have to print more out of thin air. Hence the huge national debt US has which is $31.6 trillion!

The simple explanation of why Bitcoin was invented is this.

Governments hold power over trade and barter involving money. Governments are extremely corrupt in this. They constantly steal from the people in ways so deceptive that most people don't even realize it. Bitcoin was made so that governments would lose their control, and the free market would take over.

Bitcoin isn't perfect. If it was, the people would automatically see the advantages of Bitcoin, and government money would simply die.

8)

Bitcoin was invented for the same reason that dogs lick their balls, and the reason is... because they can.

Simple as that, the technology was there, the cryptography was there, the coding language was there, it was about get the idea, the tools and put it all together.

We don't have to break our heads asking this kind of question, the important thing is it was invented and why that happened doesn't matter at all, the real question is, how can we use it to make our lives better?

People are essentially just going to have to disobey those inevitable currency restrictions in mass. If they do, this could be the easiest revolution ever.

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That was a good write up.

Bitcoin may have been created in response to the 2008 financial crisis, but it was a long time coming. Almost like it was some sort of divine intervention because the powers that be have been using their fake money system to cause immense suffering throughout the world long before 2008.

How people got duped into trading their time and labour for unbacked pieces of paper in the first place is a testament to how far we've fallen as a society. Adding to that, the ability to create and distribute those pieces of paper (or digits on a screen) is given to members of just a few families who own and control the central banks? It's truly insane.

Anyway, without going too far down the "rabbit hole" on here, this is the article that I usually direct people to in order to get them to realize just how insidious the current banking system is, and likewise, why decentralized alternatives like Bitcoin are so important for the liberation of humanity.

https://revoltfinance.com/the-importance-of-crypto/

This is really great work from the op, a really good effort in compiling such useful information about the creation of bitcoin. Satoshi nakamoto is arguably the most famous name in the crypto world today and all because of his brilliant idea to invent bitcoin to resolve all sought of financial related issues we keep facing in our recent world today. Bitcoin has grown so fast since it creation as many country are now seeing its benefit and adopting it as a means of legal tender. Bitcoin was meant by satoshi to solve a lot of thing and one of them is to tackle the issue of the centralized control of people funds by the bank.

The freedom is massive that and with time bank will not be able to play with our money anyhow and make investment with it without giving our a better interest. The emergence of Bitcoin had been a big surprise to the banking sector and the government also because the rate of adoption of Bitcoin is very massive. This is just the beginning now that there are some countries that had been considering adopting Bitcoin as a legal tender. Thee market is still young and when other countries start adopting Bitcoin, the cryptocurrency market is going to be massive.

I've read a lot in this forum that made a topic about bitcoin, this is the only one I've read that can be said to be really detailed that said how and why Bitcoin was made or made. So kudos to op for taking the time to explain why Satoshi Nakamoto created Bitcoin.

 So a nice sharing op you have done for adding knowledge to all the members here on this forum platform. I just now realized that because of the crisis that we were going through in 2008, it was very scary for all the businessmen during these times that the inflation caused is really worrying, fortunately bitcoin is one of the solutions regarding this matter. So thanks to Satoshi Nakamoto.

To get the best thing out of something, one needs to know the history, reason, and origin of a thing.  An antique can't be evaluated if its history is unknown.  Tools cannot be used to their maximum potential if we don't know why it is made or created.  Just like a bottle opener, can you use its maximum potential if you don't know that it is made to open a bottle?  History, reasons, and many other things are important in maximizing the potential and usage of Bitcoin.  It is one factor that made Bitcoin special.  So I think knowing the reason for Bitcoin's existence is important.  Because from that you can plan ahead on how to use Bitcoin to make our lives better.

a man name Satoshi Nakamoto invented BITCOIN for the ability to conduct government-free transactions, relying on digital signatures and digital coins rather than centralized government-issued fiats.

CBDC's are just a distraction and meant to be a diversion from bitcoins. The people in government know the potential bitcoins has to free people from their control, so CBDC was created as competition. Think of this, If so much has been spent on promoting CBDC's, why is not as successful as bitcoin is? why are we not interested in it still is because we understand that the government have not made any real changes, but just improved on the fiat that they already control. It is their intention to still be able to monitor people and have them under their control.

Maybe I can add to this. The current financial system relies on trust in a central authority, such as a bank or government, to manage and verify transactions. However, this trust has been eroded over time due to financial scandals and economic crises.

Bitcoin's direction is to create a decentralized system where trust is not required to transact value. This is achieved through the use of a decentralized ledger called a blockchain, which is managed by a network of users rather than a central authority. Transactions are verified through a process called mining, which ensures that transactions are valid and irreversible once recorded on the blockchain.

So my take on Bitcoin's solution to the problem of trust in the financial system is to create a decentralized, transparent and secure network that does not depend on a central authority.

Until now I am 100% sure that blockchain is the future, at that time there were still many who underestimated this blockchain because it had not happened yet. I once saw Bill Gates' interview on YouTube, about the internet, email, social media, he was even laughed at because at that time it was a strange thing.

People only judge something that makes sense at the time, until in the end when everyone uses it, they only become the last followers, this is directly proportional to investment, people buy and are tempted when they see the price soar, not when the price is low and when there is no interested person. especially the current economic situation, the government doesn't look very good, corruption, the mafia, it's time for us to forget about government, blockchain would be better implemented because it's transparent.

I actually just learned the real reason why Bitcoin was created because of this topic that has already been created. Because I often hear that bitcoin is a good opportunity, source of income, savings and so on. But the depth of why Nakamoto created him, I really have no idea right now. It means that during those times, because inflation was the problem, many businessmen were afraid and worried during these times. Thanks for sharing on this forum.

Why are you not sure about future for Blockchain technology and its adoption in society?

Bitcoin pioneered blockchain industry and it is a first successful blockchain project in history. It changed this industry forever and attracted more people to join, develop the ecosystem and help it to be accepted more globally.

With public ledgers given by blockchain technology and with total controls on their funds by owning private keys, it gives benefit to people no matter how poor or rich they are, what socioeconomic status they have. They are all fair with public ledgers and don't rely on banks to control their cryptocurrency.

Old people will more hardly to accept new technologies and related products. It makes sense because after a few decades, world will have asset switch between generations and usually from elderly to young people.

What if something new and more progressive will be invented? We never know. If someone asked me 15 years ago if a currency you can mint with your PC will become something valuable I'd say definitely not. And now we see that bitcoin proved that it is valuable. Some new invention can be created in the future and replace bitcoin like bitcoin is slowly replacing fiat currencies now. I believe in science and human imagination so I think that something even better than bitcoin will appear.

It's sad that most people only see Bitcoin as a speculative asset or a risky investment. They're missing the bigger picture of how it can revolutionize the entire monetary system and create a more fair and equitable world. Let's educate more people about the real purpose of Bitcoin.

It is hard for me to imagine how will economy look like when it will be based on bitcoin ideas. It is not just about money transfer and payment processing, it is about a totally different economy system. Modern finance is based on inflation: everything becomes more expensive with time and that's why it is interesting to get a loan to start a business. Deflationary system will make loans less attractive. It will impact everything. And it will take time to find new solutions for a new system. I'm not hurry, IMO it is better to wait and get a soft transformation than to rush and crash everything.

What do you think is going to come out bigger than bitcoin? do you have any thoughts? Or do you just feel it?
With each passage of time, human knowledge grows and with that growth, mankind is able to create things that we cannot fully imagine.

    Just like bitcoin, right? if the internet hadn't been created Bitcoin probably wouldn't have been invented in my opinion. It's only because of the internet with the technology that we have that Bitcoin was formed and created.

Nowadays, people are slowly forgetting the original purpose for which bitcoin was created, but I don't see anything wrong with people treating it like an investment, an asset. Thanks to bitcoin, which has helped many people change their lives and get out of poverty, bitcoin creates opportunities for everyone, the poor have the chance to get rich...Although bitcoin is not used as it was originally intended, it also benefits us.
One more thing, don't forget why the government doesn't like bitcoin, so even if bitcoin is used as it was initially intended, it will be tough to popularize or revolutionize the current monetary system.

Now everyone can search and find out for themselves about the true purpose of Bitcoin, because there are many explanations for such things on several websites at the moment which of course can be used by everyone who wants to read them. Except someone who really has a lazy nature who spends more time playing than reading and understanding about the true purpose of Bitcoin. And I think only people who don't know Bitcoin say Bitcoin is a speculative asset or a risky investment.

Well we cannot deny the fact that how people see Bitcoin being an asset makes it a risky investment and is a speculative asset, besides Bitcoin being a currency of course.  How can you prove that Bitcoin is not a speculative asset and is not a risky investment?

We all know Bitcoin is a highly volatile and a highly volatile asset is risky investment, and most investors speculate in this kind of trade.

  Thus it meets the definition of a speculative asset and a risky investment due to its market performance and how traders see Bitcoin. I believe people who do understand the nature of Bitcoin, the usage of Bitcoin, and the economics of Bitcoin tend to know Bitcoin is more than just a currency.

Yes most of the people forget the main reason why bitcoin created and I think a majority number of people don't know the actual purpose of bitcoin. I think at this point all of us, including me treat bitcoin like an investment asset.

This is true that bitcoin made so many rich within this short period of time of its creation. Many people change their life with bitcoin. But the funny part is, bitcoin not an actual investment asset.

But I want to ask you, what are you looking at bitcoins? I can say that 99% of market participants are for profit. If bitcoin were used only as currency or as a payment method, many people would not need it, and it would not be as popular as today. Most of the market participants are attracted by the profits that bitcoin makes, and I bet you are here for the profits too. Don't be heroic here. On this forum, only some veteran members consider bitcoin as a currency, and they encourage people to use it daily, the rest is for profit.

It's true majority of people are only looking for profit when they're buy Bitcoin, it's not wrong but if they're not understand about Bitcoin, they will blame Bitcoin when bear market happen or the price goes opposite against your speculation. That's why it's better to understand about Bitcoin and know the other reason why you're want to invest in Bitcoin.

You might never experienced a problem with your banks or centralized site, that's why you're don't need Bitcoin as a currency. In Bitcoin you can pay to anyone in this world, without need to worry about limit or restrict from banks or centralized site.

I read the OP's thread quite seriously and indeed he enlightened some people including me about how bitcoin was born. And indeed when talking there 2008 was a scary year I was almost at the hammer being poorer in that time.
But something stuck in my mind, namely whether this group or Satoshi Nakamoto worked on bitcoin within one or two years? I think that time seemed faster and I feel that bitcoin was planned far from the 2008 crisis because if in a short time it was impossible to survive and be as great as it is now, is it just me who feels this way or does anyone feel this too?

Bitcoin was invented to solve the whole world's monetary crisis and hassles. An invention made to provide an alternative payment system that would operate free of central control but otherwise be used just like traditional currencies. And in other ways, to pull th3 vast majority of poverty.

When did Satoshi saying Bitcoin was created to solve the economy crisis and hassles? you can give me a proof where he say this, you can check into his account in this forum (https://bitcointalk.org/index.php?action=profile;u=3) or you can find it on Bitcoin whitepaper (https://bitcoin.org/bitcoin.pdf). If you're read Bitcoin solve economy problem in somewhere and it's come from other people's mouth, that's just their opinions and not from Satoshi, as a creator of Bitcoin.

Currently there are a lot countries are still have economy crisis, Bitcoin have been around this world for around 14 years, why the economy crisis have not been solved yet? :D

You are correct. And I might have stepped out of line in my reply but what I actually meant to say was a personal economy solution which encompasses budgeting, investments, and a retirement plan for oneself. Bitcoin wasn't originally designed to solve global crises but it has one way or another paved the way for many others.

There is no reason other than treating bitcoin as an investment asset because in most countries bitcoin is not yet legal as a means of transaction, so the only thing that is most rational is to treat it as an investment asset.

Many people have been successful in investing in bitcoin and for those who are able to see opportunities it will definitely accelerate them to get there and also many people who are unable to take advantage of the opportunities that exist. Everyone gets the same opportunities, but not everyone gets the opportunity to invest, bitcoin not an actual investment asset, how do you explain all this?

I would say that this statement is not entirely accurate and is quite critical and doubtful. While it is true that in many countries, bitcoin is not yet widely accepted as a legal means of transaction, this does not mean that it cannot be used as a currency. Can you please provide the source of your information stating that Bitcoin is not yet legal as a means of transaction in most countries?

It is important to distinguish between legal tender and means of payment. Legal tender refers to a currency or payment method that a government has declared must be accepted as payment for debts and taxes within its jurisdiction. On the other hand, a means of payment refers to any instrument, including cash and cryptocurrencies, that can be used to exchange value in exchange for goods and services. Bitcoin is not legal tender in most countries, meaning that merchants and individuals are not required to accept it as payment for goods and services. However, it can still be used as a means of payment in many cases, especially in online transactions.

I believe that new investors from 2020 to here most of them will not know what Satoshi's real purpose for creating bitcoin is, and they enter the market with the offer to get rich quickly or make a profitable investment. What I hear people discussing about bitcoin these days is that it is an asset, a highly profitable investment channel, I don't see anyone talking about the original purpose of bitcoin anymore.

Those who blame bitcoin when their investment fails, those people will never succeed in any field, not just bitcoin. After all, no matter what bitcoin is, it is just a man-made tool and presents an opportunity to us in one way or another. Our success comes from our behavior, efforts, and mindset and not bitcoin, gold, or any other investment.

You can also go back to the gold standard if you don’t like fiat currency. The issue is that nobody cares what you want and therefore will not go back to that. Since you can not force the government to adopt the gold standard you will need something else. That’s why satoshi invented the Bitcoin as a good working alternative that can even be used worldwide.

I don't know exactly, because like bitcoin it will be not just a new processing system, it will be a new philosophy. All forms of different distributed ledger which I can imagine are just different forms of the same idea and I think that there will be new ideas, because all economy is changing very fast right now: robotisation and AI make human work less needed and this makes everything changing. Bitcoin is good but it was made to solve known problems of an old system. One day some new progressor will invent a new financial decision for new coming era.

The Bitcoin philosophy can grow to be a new religion in future. I am curious to see how the Bitcoin community will grow up with time and how they will become more sustainable with time.

Dunbar's number (https://en.wikipedia.org/wiki/Dunbar%27s_number) contains an interesting theory which I think can be applied for Bitcoin community growth.

Communities could be weak in the past, early years since 2009 but in 2023, 15 years since 2009, I believe Bitcoin communities now are much stronger and will not be easily wiped out. Bitcoin is here to exist in future and its communities are there to stay and become bigger.

I'm not saying bitcoin is not a currency, but there's nothing wrong with it being viewed as an investment. Bitcoin has great advantages, but it is also not perfect. Banks fail but that doesn't mean all banks fail and bitcoin is too volatile. I don't believe someone has the guts to buy bitcoin for $69k and use it to pay when it's worth $28k as it is today. Both have advantages and disadvantages.

Bitcoin was invented to be a decentralized digital currency that could operate without intermediaries, solve the issue of trust in traditional financial systems, and provide a deflationary asset with a limited supply.

Satoshi had a long vision and to provide us a alternate way to make payments from our end with complete financial freedom in the form of decentralisation he designed bitcoin which was a great invention.You don't need to rely on any third party for processing funds and you can transfer it globally from your wallets.It is deflationary also with fixed supply so he kept in mind the inflation factor for fiat also which makes it worthless.I would say this was great step towards our monetary freedom and we should take full advantage of the same.

What I mean is that bitcoin is not yet legal as a legal means of payment in some countries and there are still many product/service sellers who do not accept bitcoin as a means of payment.

In general, bitcoin can be used as a legal means of payment, but government regulations cannot be ignored because there will be sanctions for those who violate them. Therefore not all countries and people use bitcoins as a means of payment, both direct sales and online and you have explained below?

That's what makes bitcoin so interesting. Many traditional investors stubbornly always think that bitcoin is virtual, with no real value, so they missed the opportunity to get rich from bitcoin. We need to remember one thing opportunity is always hidden in risk, and only those who dare to take risks can find opportunities. Gold is no longer called an investment opportunity because it is so obvious, and if we wait for bitcoin to become as clear as gold, the opportunity will no longer be for us.

Indeed, if people want to think about what is happening in this financial system, they will definitely realize that this financial system is a game. .

and now bitcoin is here to cut this fiat money game, but still many people don't want to glance, many are indifferent and underestimate bitcoin. indeed, if you think about it logically, it will also be difficult to change people's views and thoughts about fiat money and bitcoin.
because those feelings and thoughts are deeply imprinted, so it is indeed difficult to change.

The path that can most be taken now is probably the younger generation now if the older generation or people in the past cannot be included in the thoughts and views about fiat and bitcoin, today's young people must be guided and directed towards financial freedom that actually via bitcoin.

Honestly, for me Bitcoin is a big thing in my life now, because for 7 years bitcoin has been God's only way for me to make a profit somehow to live as a citizen in the country I am in.

      You are also right that innovation that happens in this age is very fast, things that we do not expect suddenly happen that even the impossible becomes possible. And it's no joke, what used to be impossible to become money has now become more expensive than all the currencies in the world.

I believe that our children's children are the ones who will truly know why Bitcoin was created

What is more interesting is that all these "traditional investors" are actually trading "virtual" assets, from the stock market to gold market they are buying and selling virtually. None of the gold investors actually have any physical gold stored in their homes, they either have some virtual numbers on a computer called gold or a piece of paper representing the gold they supposedly own.
Meanwhile bitcoin is real and when you own it you actually own bitcoin!

comparing gold and bitcoin for now, even though bitcoin is as good as bitcoin, gold is more trusted. therefore for those of us who are more familiar with bitcoin of course choose this asset to invest, considering that for me it is easier to store it, and protect it for the long term, without worrying about being hacked by people. and on the other hand with bitcoin, it will multiply our capital, considering that not many people know it and invest it

This is an interesting feature of bitcoin we found while its adoption: it can help those who start using it even while its global adoption is still on the early stage. And it is inspiratory of course. And the more people start using bitcoin the more it impacts the world economy and the more people can get their benefits from bitcoin. But I'm sure it's not the final stage, we'll see many changes in global finance and economy in upcoming decades, many of them will be inspired by the first decentralized currency.

Only a few nations accept Bitcoin as legal cash or as a means of asset storage, but I believe it to be the market leader among all crypto currencies. In contrast to now, when it has shown to be among the most precious things on earth right now, people used to take it for granted years ago without realizing its value. Depending on how the market behaves, it calls for a lot of patience. I believe Bitcoin influences or aids in predicting the overall movement of the cryptocurrency market.

Bitcoin was invented to enbale people to send value from one user to another.
Bitcoin is strictly speaking a P2P network.

Bitcoin brings to the table a unprecedented level of freedom that literally did not exist in economy yet, it's also one of the biggest if not the biggest threat for the ones who benefit from the status quo and powers that be. This Pandora box ain't closing now, it is here to stay for the present and beyond.

In the early days of bitcoin, everyone saw the opportunity of the new project but with procrastinating and ignorance, majority of the people missed out on good entries on bitcoin. Risks envolved round the space, regularly taking risks have become a usual routine in the market. Opportunities are countless in the market, with more profitable ways to make real cash from the market. It's necessary to know about bitcoin and how the crypto market operates. Gold is a stock and volatility is high compared to bitcoin which remains stagnant in movement due to the market season.

If you're talking about physical gold, it's more secure than bitcoin to some extent, but if it's gold on stock exchanges or forex, they're also virtual, and you don't fully own it. And if you hold too much physical gold is not necessarily safe, it can be stolen by thieves or confiscated by the government at any time. But with bitcoin, you just have to memorize the seed phrase, and no one can take your bitcoins, bitcoin still has the edge over gold in this respect.

I believe it was invented for financial freedom and ability to earn on your own money

 Unfortunately, many people only view Bitcoin as a speculative asset, without understanding its true purpose. Bitcoin was created in response to the banking crisis that occurred in America, where numerous banks collapsed due to the continuous increase in interest rates and high inflation.

:D

Did you refer to the recent collapse of 3 banks e.g. Silvergate, Silicon Valley and Signature banks? Bitcoin should be created in this year, not 14 years ago lol. Bitcoin doesn't created to fix the banking crisis, it's what it's, but Bitcoin is created to give an option for any person to trust their money in Bitcoin and be your own bank or you're still trust fiat money in centralized banks.