In your own words: What is the purpose of Bitcoin?

[Sir Alpha_goy]

.

[1715071963]

1715071963

[1715071963]

1715071963

[1715071963]

1715071963

[1715071963]

1715071963

[1715071963]

1715071963

[smiles]

I don't know the true intended purpose of the inventor, however a purpose is:

To effect an electronic transaction directly between two parties without the need of 3rd party facilitation.

Now you can argue that the miners are the facilitators etc. but you know get what I'm saying.

[adamstgBit]

Bitcoin is new technological advancement. Created out of hate, its purpose to destroy and liberate.  Where bitcoin comes from and why it was created is besides the point; the point is that these units have the right properties to be used as money Scarce, Durable, Portable, Divisible, Impossible to counterfeit, Fungible... Their utility is a weapon, with this weapon humanity can unite under one banner and declare their independence once and for all.

[stuff0577]

There are really lots of potentials in bitcoin. Its just somehow being ignored by others base on their regulation, society, etc... Anyways it is still early days. Let see what the future will bring.

I think the developers purpose is just a peer to peer decentralize money. Don't know if he intentionally create it for other stuff the are really amazing.

[lumeire]

I see it more as an app of the blockchain, one that's meant to revolutionize how we transmit value.

It's the blockchain that's most fascinating and will change the world.

[chennan]

There are really lots of potentials in bitcoin. Its just somehow being ignored by others base on their regulation, society, etc... Anyways it is still early days. Let see what the future will bring.

Well if you think about it, the baby boomer generation is still going strong right now which means they are still pretty set in their ways of thinking.  I believe once it becomes the millennials turn to start governing the policies of nations, I think that it will become a better place to live.  This is including our financial system, since a majority of young adults my age believe that the central private banks are completely corrupt (at least a large majority of my friends think so anyways, don't know how that holds up to everyone, nor maybe a majority of them even care).
 

I think the developers purpose is just a peer to peer decentralize money. Don't know if he intentionally create it for other stuff the are really amazing.

I think this is probably Satoshi's main policy of creating bitcoin.  I think he really saw the true value of having a decentralized, limited currency; but at the same time I bet he wondered how we can use this sort of thing without having to rely on gold, since it can't be physically transferred over the internet without having to use fiat for payouts.  This reasoning is why bitcoin is so intriguing to people (or at least it is for me)... I believe bitcoin is going to have it's ups and downs for a while, but in the next 10 or 15 years when people of this younger generation becomes the leaders of society... it would be fully adopted and allow it to be used in its full purpose. 

That's not to say there is going to be some incredibly dire times ahead of us, because when this movement ultimately happens, there will be an all out war between the private banks and the armies/government they control between the citizens they rule.

[kelsey]

far removed from its original potential unfortunately 

[Outlander]

I don't think we can predict the original purpose of bitcoin correctly. But We know now bitcoin is not just money, it can be commodity, investment etc

[kelsey]

I don't think we can predict the original purpose of bitcoin correctly. But We know now bitcoin is not just money, it can be commodity, investment etc

no need to predict the past  the original purpose is stated pretty damn clearly in old newgroups, original white paper etc

[MasterYii]

So tell me in your own words.

When I stumbled upon it I thought it was a decentralized technological powerhouse looking to repair a broken financial system.

I feel like some of you would rather some big corporations just adopt it once and for all so that you can turn it into a pile of funny money.

Was I just being naive?

I'm guessing yes.

Well for me its purpose is to give the people convenience in the future.

[unamis76]

Bitcoin is giving people what was already theirs. It's a way of reminding people that they're still in charge and they're the ones who control the money they have. without having to trust it to a third party to store them securely.

[Amph]

the purpose is to remove the power of the money from a centralized system and the need to trust a centralized autorithy, giving a complete freedom to everyone, as a result

[unusualfacts30]

I think most people are in it so they can sell it for higher price..may be 1% are interested in tech part

[ralle14]

for me purpose of bitcoin is to be an anonymous person when doing financial things
and to be more less known of your personal infos and things

[Denker]

I see it more as an app of the blockchain, one that's meant to revolutionize how we transmit value.

It's the blockchain that's most fascinating and will change the world.

It's the Bitcoin Blockchain that will change the world. And why? Because it is completely decentralized and the most secure network. Permissioned ledgers which might be shared between several institutions, like banks, might solve some of their issues and reduce costs for them massively. But this won't have any benefits for the normal people or vanish major problems of the actual financial system.
Decentralized ledgers however will have many unknown use cases and will evolve complelety new industries and disrupt entire markets.

[Slark]

the purpose is to remove the power of the money from a centralized system and the need to trust a centralized autorithy, giving a complete freedom to everyone, as a result

It is not bitcoin's purpose. I would rather call it a bitcoin's dream. And honestly after watching how bitcoin community can mess things up I doubt it will ever happen. I saw that after one little crisis whole community is divided, what will happen in the future when serious problems pile up?

[neoneros]

The Blockchain is a first step into a brave new economy, setting free the corporate grip that has taken our current economy hostage. A trustless network that can contain a free path to gain and spend our wealth, spread it and make the world profit without the middleman taking the biggest piece of the pie everytime we make a transaction.

The steps toward decentralisation and trustless networks have been set, we can foresee a future where governments will be replaced by decentralised systems based upon what is being developed right now.

The purpose of Bitcoin is setting out the beginning of the next revolutions that will change the society as we know it.  

[twister]

The purpose of Bitcoin was to evolve us and our ways of storing, handling and spending funds. To give us the control back of our own money so that we don't pay money/fees to others to keep it safe or to transfer it from one place to the another. That's what according to me was the true purpose of Bitcoin, the people who got aware of it and saw potential in it at the early stage benefited from it the most and others like us are a little late but atleast we realized it. Better late than never.

[Slark]

The purpose of Bitcoin was to evolve us and our ways of storing, handling and spending funds. To give us the control back of our own money so that we don't pay money/fees to others to keep it safe or to transfer it from one place to the another. That's what according to me was the true purpose of Bitcoin, the people who got aware of it and saw potential in it at the early stage benefited from it the most and others like us are a little late but atleast we realized it. Better late than never.

The problem is that most people don't want to be in control of their money. They want to earn put money in safe place and that is it.
Only small percent of people are aware of the backstage of the world economy and even they can't do nothing about it.
Bitcoin among 'normal' people is seen as online currency of terrorists and hackers. Way to go btc community!

[allthingsluxury]

Bitcoin is Freedom, Bitcoin puts the power of money, back in the peoples hands.

[Kprawn]

I guess it's early roots was born from the frustration of a failing fiat & banking system. Some libertarian minded groups might have some ties with it's early development, but

the capitalist system have found some loopholes to turn a disruptive technology in their favor. They now use the system with disruptive qualities for their own advancement

and increased profits. It should have been the technology that replaced the horse, and now it's a horse driven carriage.     

[maokoto]

The purpose is to be used as money without a banking entity controlling it.

Also to make international transfers possible without exchanges.

[prodigy8]

In my own words i would say that the purpose of bitcoin is to make payment all over the world with very low fee.

Secondly is that being your own bank to hold the bitcoin is the next good thing,

Another this is that you avoid the bank procedures to have an account, with bitcoin it is easy.

[Clint]

Purpose is another currency for people to trade with, and for people like us to invest it. It's the next generation of payment in my opinion. 

[coalitionfor8mb]

Bitcoin was created with recognizable characteristics of a star.
Its purpose is to shine as bright as it can, produce many goods and go Supernova when its mission is accomplished.

[leex1528]

I think the goal of Bitcoin was a few things.

1.  Knowledge, the amount of stuff that can be created with Bitcoin and actually use as a currency, is just simply incredible.
2.  Quick and easy transactions for items on the internet, yes I know banks mostly do this now, but Bitcoin is slightly different.
3.  Fun, I have had tons of fun with my Bitcoin experiments so far, I have had ups, downs and all around a pretty good time

[btcxyzzz]

the main purpose is to free the world from banksters.

[n3o111]

It gives me independence, which means financial freedom. I don't want to be a slave of government and corrupt banking system. I am my own bank. The purpose of Bitcoin is economical liberalism.

[a7mos]

Bitcoin is simply the best way to pass all restrictions on online payments like age and nationality and if I want to use bitcoin I can get dozens of bitcoin addresses in seconds but if I want to get one credit cards it is really a big deal

[Herbert2020]

i still think that bitcoin is for all purposes is a decentralized technology with the power to repair a broken financial system.
but it is far away from that point, right now as it was before is just a speculation thing which people are using as an investment to earn a profit from the volatile price.
and unless we see any sort of mass adoption, and every place accepting it alongside credit cards it is going to stay this way.

[investspot]

So tell me in your own words.

When I stumbled upon it I thought it was a decentralized technological powerhouse looking to repair a broken financial system.

I feel like some of you would rather some big corporations just adopt it once and for all so that you can turn it into a pile of funny money.

Was I just being naive?

I'm guessing yes.

Purpose? world peace. 

[coinplus]

Purpose of bitcoin is financial freedom. No more huge transaction fees. No more freezing account funds. No more to trust third parties who come and go with our money. But currently bitcoin used to hold our savings as an investment. So, now a days purpose of bitcoin is to get a big fortune.

[turvarya]

The purpose of Bitcoin can be described in 3 words:
global (you can use it in every country and between countries)
internet (you can use it where ever there is a internet connection with every device, that can access the internet)
cash (money that is transferred peer-to-peer, so without a 3rd party, but that also means, that everyone is responsible for the security them self)

I think, a good way to describe what Bitcoin is supposed to be, is comparing it with the Internet. Before the internet it was really hard to spread any information. Media was in the hand of a few peoples. Nowadays everybody can just use Twitter/Facebook/blogs or if that doesn't work for some reason, it is not that hard to make your own website and theoretically reach most people in the world with it.
Nowadays it is hard to send any amount of money between countries. Just look at all the fees, people have to pay and still it is possible, that your funds get frozen. There is not much, you can do about that, besides meeting in person. Bitcoin on the other hand is cheap and can not be censored.

[dollarneed]

i would say with my own words that purpose of bitcoin are :

• To Have your Own Bank
• Make transaction or payment all over the world simply no need your identity
• And no more huges fee

[boopy265420]

I see Bitcoin the biggest innovation for the last 2 centuries.It is revolutionary as it changed the concept that currency should be backed by gold.It is freedom,vision and future's most valuable currency.

[edric]

So tell me in your own words.

When I stumbled upon it I thought it was a decentralized technological powerhouse looking to repair a broken financial system.

I feel like some of you would rather some big corporations just adopt it once and for all so that you can turn it into a pile of funny money.

Was I just being naive?

I'm guessing yes.

I think you are correct that in some ways the original purpose for bitcoin was a decentralized means of exchange with no boundaries.  Furthermore, the blockchain, the deflationary nature of the currency, and other factors make it uniquely suited to serve the purpose for a global digital exchange mechanism and repair many of the deficiencies in the currency global banking system.  However, I think you are right.  Major banking powerhouses recognize the disruptive potential of the technology and they are using their political and economic leverage to make sure they secure future market share in many areas.

[Winalunt]

there is no such thing as purpose ,as people change it in a matter os minutes.
did satoshi made it to kill banks ? or to support illegal activities ? or to use it for anonymity ?
the way it is used becomes the purpose,but the main motive was anti-banks and govt.. IMO.

[S4VV4S]

So tell me in your own words.

When I stumbled upon it I thought it was a decentralized technological powerhouse looking to repair a broken financial system.

I feel like some of you would rather some big corporations just adopt it once and for all so that you can turn it into a pile of funny money.

Was I just being naive?

I'm guessing yes.

It depends on how you use it.
If you use it like you did with fiat, then there will be no difference on the purpose.

[randy8777]

being able to send money 24 hours a day to anywhere in the world instantly. and all this without banks or other financial companies.

[buddu]

I use Bitcoin for transfer of funds and it is very convenient and affordable way to complete the transactions.I see it the best available way to do it hassle free.It saves my time and money so for me it is doing successfully one of its creating purposes.Bitcoin's purpose is to replace the old concept of money transferring,fast transactions and freedom with decentralization. 

[zero01]

I guess the purpose of bitcoin is to make internet users feel more comfortable doing transactions online

[LiteCoinGuy]

to liberate the world from fiat money.

[evillive]

time to control your money yourself

[ObscureBean]

Well, as you correctly assessed, you are indeed naive, Bitcoin is no different from any other forms of money. Changing the medium will not 'repair' the system, you'd have to change human nature to do that.

[neochiny]

i my own words what is the purpose of bitcoin?
well for me the purpose of bitcoin is an advance technology.
that make all people in the world as one.
like they are using only 1 world currency through the internet.
this is really awesome and i think its purpose also is to unite all of them.

[dothebeats]

Whenever I see a definition of bitcoin replacing the traditional monetary system that we have right now, I couldn't help but cringe at that statement. The idea of bitcoin, though good and very promising, will never replace the traditional fiat currency. It may for the first time in forever help people manage and control their own money without the help of any other intermediary banks or governments, but bitcoin would never, ever replace fiat. That's how I see it, at least.

[Denker]

To disrupt the whole entire financial industry and to speed up the coming the death of all these existing zombie banks out there who put most of us in financial slavery the last decades.

[bitwarrior]

The purpose of bitcoins is to become the next global currency without the limits of a central governing agency.

[bitgolden]

Fast transactions with very less fee is the benefit we can get from bitcoin. I would say bitcoin is created to prevent wasting money on transaction fees. By using bitcoin, we can save huge amount of money which were usually spent for transaction commissions. Bitcoin works electronically so, you can send or receive money almost instantly.

[michnelli6]

No government involved in bitcoin. So, it can act freely for any country. This is the purpose I guess bitcoin was created. Bitcoin generally free of all sort of regulation a traditional money has. So, bitcoin users can use bitcoin across any country. This is the purpose satoshi has created bitcoin as a decentralized money.

[newcripto]

The purpose of Bitcoin to have a cashless,worry free digital currency whom you can access and use anytime from anywhere to everywhere without having need to use traditional ways.

[johnyj]

Enlightenment

Perfectly suit this modified quote from The Matrix

"The fiat money system is humanity's slavery. But when you're inside, you look around, what do you see? Businessmen, teachers, lawyers, carpenters. The very minds of the people bitcoin is trying to save. But until it does, these people are still a part of that system and that makes them its enemy. You have to understand, most of these people are not ready to be unplugged. And many of them are so inured, so hopelessly dependent on the system, that they will fight to protect it."

[BTCBinary]

The purpose of bitcoin is to disrupt the current financial and economic system. And it already is!

[apriyani420]

i believe its purpose is to change the old system of money, i believe bitcoins have a lot of potential of growing more and more in the future hopefully it will become the main currency in the world

[pereira4]

Im pretty sure satoshi intended Bitcoin to do a very simple thing: Move wealth from A to B without intermediaries, worldwide.
Of course, I say simple ironically, because the technology behind it is what makes it a trillion-dollar marketcap worthy.

[chennan]

i believe its purpose is to change the old system of money, i believe bitcoins have a lot of potential of growing more and more in the future hopefully it will become the main currency in the world

I think so too, but it's also to capitalize on something that could be finite in the digital world.  Having only 21 million bitcoins that could ever be obtained is going to be the best thing for bitcoin imo.  It's literally like having digital gold, where the amount of gold on earth is limited and only so much can be mined up; but with bitcoins, it's like having gold where you can pay anyone anywhere in the world with it.

A little better than back in the day when people would have to carry around a sack of gold coins to pay for goats and cattle.

[sukamasoto]

This currency will change the transaction trend on the future. With bitcoin, all transaction will more faster and efficient rather than using other currency. We can carry money without carrying physical money just like credit card but ofcourse bitcoin is better because it has lowest fee

[chennan]

This currency will change the transaction trend on the future. With bitcoin, all transaction will more faster and efficient rather than using other currency. We can carry money without carrying physical money just like credit card but ofcourse bitcoin is better because it has lowest fee

But if the banks start using blockchain technology and start implementing it to be able to easily transfer fiat money on a global scale with low fees just like how bitcoin is doing right now... wouldn't bitcoin just die in your own opinion?  To me this is the biggest potential killer for bitcoin right now, because fiat has obviously been here a lot longer than bitcoin has, and if it just takes the technology that makes bitcoin so popular for payment systems... then fiat will forever remain the dominant force for payment.

[Falconer]

To keep anonymity of your transaction, so no one could track what have you done with your money. Even if they could track your transaction address, still they have no idea what kind of the address is. Full control of your money.

[saturn643]

Bitcoin provides a irreversible payment system money transfers from one person to another, with no 3rd party necessary.

[afriezalie]

Bitcoin is used for anonymous transaction, investment method, and online payment method for me. Also it can be used to perform an international trading without money changer and high fee.

[Kprawn]

Bitcoin provides a irreversible payment system money transfers from one person to another, with no 3rd party necessary.

That might have been the goal, until all these payment processors jumped in on the action to make a quick buck and then suddenly claim that they were hacked or that they

distance themselves from Bitcoin, when they grown enough to stand on their own feet, like "Circle" just did.

Most people are so handicapped by their use of the fiat system, that they cannot handle the financial freedom that Bitcoin brings to the table. It's like a type of fiat

Stockholm syndrome.  ...They accept and love their captors. https://en.wikipedia.org/wiki/Stockholm_syndrome

[Possum577]

To provide a currency system, based online, that eliminates the need to trust a 3rd party or "middle man" to produce the currency or conduct transactions.

[1Referee]

Freedom. No worries. No frozen funds. No chargebacks. No more waiting a working day or even a whole weekend for transactions to post in my bank account. Since I know Bitcoin I stopped using crappy services as Skrill and PayPal. It feels amazing to be boss over my money and to send/receive money instantly.

[OmegaStarScream]

It's basically to cut PayPal & the other payment methods crap like having to worry for 6 months about the seller if he will chargeback or not  , transactions are pretty fast and low cost (too low) and basically annonymus where someone don 't need to provide his adress ,name and that kind of stuff .
and also made and still making some people rich , and for those who bought at ~1200$ or something and sold it's their fault I believe , you don't lose unless  you start selling .

[Q7]

For me, it is an instrument or tool that will provide an alternative or solution to possibly solve all the mess and problems we are suffering right now caused by the weaknesses in the existing financial system. Manipulation by the rich to further enrich themselves while the poor keeps on being supressed and enslaved to point of no return. Sounds dramatic? No it's a fact.

[bit3000]

The best digital innovation!
Much better than google,facebook,and other shit.

[Winalunt]

The best digital innovation!
Much better than google,facebook,and other shit.

Ok we can consider it as the best digital innovation of this century but OP never meant that ?
tell your opinions on its purpose or use.

[tokeweed]

Profit.

[MUFC]

The main purpose of bitcoin to me is to be the first decentralized currency operating independent of any central authority. I love that you can't be censored by payment processors/banks/governments refusing to cater or work with certain organizations they don't like or have been told not to work with. I also like how the government or banks cannot take your money without permission and you are in charge of your own money.

[Daniel91]

In my opinion, purpose of bitcoin is to get rid of banks and bankers and become financially free.
I don't like any regulations, crazy fees and strict laws and bitcoin is perfect solution for me

[wafersticks09]

To use it in online transaction. Very fast transaction, anonymous, low transaction fee. It will replace paypal, etc. in the near future.

[RealBitcoin]

1) Protect against fiat printing theft
2) Hedge against global economic collapse
3) Send huge sums of money online with any overhead fees
4) Connect supply & demand, many people dont have access to online money, they can have now
5) New jobs & money earning opportunity
6) Against Censorship & for transparency
7) Safe Accounting
8 ) Financial security and responsibility
etc....

[Pab]

 
 All digital currencys not only btc are to disrupt that modern financial system,money games,printing.Btc is p2p money and it has to be people money

[Hugroll]

the purpose of bitcoin to allow a safe and anonymous transaction to ocure between 2 parties without being afraid of chargebacks

[Ginvest]

The purpose of Bitcoin was to pump and dump. It was really good realised. So many people bought bitcoins for 1000$. And now what? When was Bitcoin price over 300$ at least? So, no, Bitcoin won't replace PayPal or any other fiat money. It can easily go down at 200$, 100$ and so on. Do you really will to invest in it?

[Xenoph0bia]

Bitcoin is a digital currency by which you can shop online, can transfer the bitcoins to anywhere and there is no need for bank. It is basically based on peer to peer environment. You can done the transaction without any middle institute like banks. Bitcoins are easy to use, transfer and free which is the main reason for their popularity.

[Soros Shorts]

An digital asset that can bypass international currency controls.

[Mickeyb]

For me, Bitcoin is a first transparent payment system that has ever existed. System that doesn't need and doesn't rely on the third parties, the same parties that are almost always centralized and by that prone to corruption, cheating and deceiving masses.

Bitcoin is the first money that belongs to the people not the creator or issuer as it's the case with traditional financial systems.

[RGBKey]

I feel like the purpose is to stop one party from having too much control over the way that people store value.

[JeWay]

(IMO) the purpose is to make money transaction easier, cos no one can forbit you to do that.

[Falconer]

(IMO) the purpose is to make money transaction easier, cos no one can forbit you to do that.

Yeah but I think no one will forbid you even care with your money transaction.

[RGBKey]

(IMO) the purpose is to make money transaction easier, cos no one can forbit you to do that.

Yeah but I think no one will forbid you even care with your money transaction.

There are people (Read: Government) that will stop you if you don't meet their regulation standards.

[sachung]

Bitcoin is created for new economical revolution. The traditional economic environment has many disadvantages to a common man. Satoshi has created bitcoin to revolutionize the modern economy situation with the help of bitcoin. I believe bitcoin is doing it in right way. I mean bitcoin is fulfilling the purpose it was created.

[gripflierGO]

Bitcoin is created for new economical revolution. The traditional economic environment has many disadvantages to a common man. Satoshi has created bitcoin to revolutionize the modern economy situation with the help of bitcoin. I believe bitcoin is doing it in right way. I mean bitcoin is fulfilling the purpose it was created.

True, bitcoin is adding value to the benefits that we are getting from bitcoins, as bitcoins is decentralised and the best thing is you can carry as much as possible in your digital wallet even you are travelling across the countries where as fiat currency has a limit to carry when you are travelling, and I believe that is the best thing about the bitcoin, it is already benefiting the society.

[neonshium]

The purpose of bitcoin may be innovating a new digital currency which can help people to send transactions with less fees. Bitcoin was created to get a new money which is not controlled by any government. So, decentralization is the another purpose bitcoin is created. Bitcoin has given the banking purpose to many individuals.

[bitgolden]

The purpose of bitcoin may be innovating a new digital currency which can help people to send transactions with less fees. Bitcoin was created to get a new money which is not controlled by any government. So, decentralization is the another purpose bitcoin is created. Bitcoin has given the banking purpose to many individuals.

1. The purpose of bitcoin is ease of usage.
2. Convenient to transfer with less fees.
3. Fast transactions.
4. Get rid of freezing funds.
5. Investment opportunity. Double or quadruple your net-worth in short time.
The list is long. No one can cover all the things at a time.

[lololhyip]

Freedom.

[Pursuer]

bitcoin as I see it is a revolutionary technology that is highly underappreciated these days. it simply offers a lot of benefits that cant be ignored.

for me the best thing is the decentralization and also the fact that I can send money to any place in the world in the fastest way possible and on top of that I have to pay the lowest amount of fee available. and it would reach the destination (get confirmed) in matter of minutes.
also bitcoin and cryptocurrencies are a good investment opportunity that I can take advantage of and make some money from my investment.

[dothebeats]

Bitcoin? Not to fully replace the traditional banking system or the current fiat system but rather a workaround to have yourself control of all your funds and also, a cheaper means of sending money from one point to another without having to rely on to some intermediary service.

[BTChaintrader]

The purpose of Bitcoin is taking the power from the centralized financial institutions and politicians (which are giving their approval to money printing) and giving this power back to the people.

Also low fees and the ease of usage is a big plus too.

[notiely]

Freedom.

And peace.

[Soros Shorts]

Frictionless international transactions of over $10,000.

[NoRespect]

bitcoin is a digital coin that can change someone's life a positive or negative direction

[zenitzz]

i think purpose of bitcoin is to be an anonymous person, you can keep your money and nobody knows

[lololhyip]

Bitcoin is Freedom, Bitcoin puts the power of money, back in the peoples hands.

Yeah, bitcoin is world peace.

[krishna1]

there was a time  when i saw this thing (bitcoin system) and i asked myself "what kind of fools will believe in this type of  things maybe it will be another scam" but today after researching about it i am here in this fourm know almost all the basic about it and how it works i have earned some bits too. so for me it  is just "a money processing system" yes this is the best term i can call it

[fryarminer]

If you look at life in present history, we are going virtual. We spend more time in virtual cyberspace than we do in reality.
Bitcoin is the cash for this virtual existence.

[fantoos]

The purpose of Bitcoin is to empower the common man even it is still far from its purpose.A currency of which value should be drived by the people instead of elite.An independent and decentralized currency for more freedom to use where and whenever someone wants to do.

[dothebeats]

Frictionless international transactions of over $10,000.

Also this one: sending large amounts of money without anyone questioning you and forcing you to pay tax just to send your own money. A decentralized system for these kind of transaction takes the cut, and bitcoin does it perfectly and (most of the time) smoothly.

[Wapinter]

I guess there could be several purposes of creating bitcoin and challenging the dominance of Us dollar could be one of them.Imagine if only one third of total world population start using bitcoin where will dollar stand?Currently we need dollar to do any international transaction which increases dollar's demand but if we can use bitcoin,dollar will lose its value

[Ceizer54]

According to me,The main purpose of bitcoin is decentralisation.Another purpose is freedom as the bitcoin is not under the control of official government and can only be controlled by the users itself ..One more purpose of bitcoin is to have a currency that is world wide accepted which is bitcoin itself..You can buy and sell with bitcoins in any country that's the best thing i like about it

[asad777]

short answer : easier way of sending money online

[Insertion]

Bitcoin payments are easier to make than debit or credit
card purchases, and can be received without a merchant
account. Payments are made from a wallet application,
either on your computer or smartphone, by entering the
recipient's address, the payment amount, and pressing
send. To make it easier to enter a recipient's address, many
wallets can obtain the address by scanning a QR code or
touching two phones together with NFC technology.
thats all are purpose of bitcoin

[nownow]

Bitcoin is Freedom, Bitcoin puts the power of money, back in the peoples hands.

Well saying.   

[rickadone]

short answer : easier way of sending money online

Bitcoin was created to enable peer to peer moeny transaction. There is no central party involved in bitcoin. Only sender and reciver invloved in bitcoin. May be miners also involved in that. But only 2 people doing a money transaction just because of bitcoin. I strongly believe for this purpose only bitcoin was created.

[kvlolo]

No war and peace.

[JeWay]

(IMO) the purpose is to make money transaction easier, cos no one can forbit you to do that.

Yeah but I think no one will forbid you even care with your money transaction.

There are people (Read: Government) that will stop you if you don't meet their regulation standards.

Exactly, that's what I meant. The regulations is sucks, but with Bitcoin there is no such thing.

[n2004al]

I think that the purpose of the creation of bitcoin was the invention of a new (thing) money (internet money) which first of all can be a materialization of the peer to peer technology. This invention must be the fact that this technology can be applied. Then to create a diverse currency from the others in use. Which would have qualities that the other currencies don't have.

[coinplus]

Bitcoin is created for new economical revolution. The traditional economic environment has many disadvantages to a common man. Satoshi has created bitcoin to revolutionize the modern economy situation with the help of bitcoin. I believe bitcoin is doing it in right way. I mean bitcoin is fulfilling the purpose it was created.

[neonshium]

Bitcoin is created for new economical revolution. The traditional economic environment has many disadvantages to a common man. Satoshi has created bitcoin to revolutionize the modern economy situation with the help of bitcoin. I believe bitcoin is doing it in right way. I mean bitcoin is fulfilling the purpose it was created.

Yes bitcoin is the new economical movement initiated by Satoshi. The modern economical slow down situation requires anything like that. The purpose of bitcoin created to save our global economy. bitcoin will do that in perfect way.

[oblivi]

The purpose was to create an alternative to the traditional system. Not necessarily trying to kill the traditional system, just opening the space for an alternative. This may or not end up killing the traditional system tho. You never know how far it can go. For now we are still a group of underground pirates, in the future it may become an actual revolution and change things that we assumed unchangeable.

[~Bitcoin~]

I think bitcoin as only a sort of virtual currency which work as a assets in past. But later when i started to involve in bitcoin market i came to know bitcoin can be used as a payment processor with low fee and still using it as a payment method for lots of hosting and domain requirement. Nowadays i am also doing topup my mobile phone with bitcoin.

I love to use bitcoin.

[givemefive]

So tell me in your own words.

When I stumbled upon it I thought it was a decentralized technological powerhouse looking to repair a broken financial system.

I feel like some of you would rather some big corporations just adopt it once and for all so that you can turn it into a pile of funny money.

Was I just being naive?

I'm guessing yes.

To govern the world. 

[n2004al]

So tell me in your own words.

When I stumbled upon it I thought it was a decentralized technological powerhouse looking to repair a broken financial system.

I feel like some of you would rather some big corporations just adopt it once and for all so that you can turn it into a pile of funny money.

Was I just being naive?

I'm guessing yes.

To govern the world.  

Big words but I will add two another words. To govern the world of currencies. To govern all the world is a little difficult. Don't leave the politicians to do this.  

[prodigy8]

Bitcoin is a coin that you can own it and nobody can touch it (if you don't allow it)
Being your own independent bank is something trendy these years.
Also when you transfer from you to someone you have to pay only few cents in fees.

[notbatman]

Well, as you correctly assessed, you are indeed naive, Bitcoin is no different from any other forms of money. Changing the medium will not 'repair' the system, you'd have to change human nature to do that.

I believe you're mistaking human nurture for human nature. Bitcoin is decentralized without a 3rd party, this makes it radically different from fiat money. Bitcoin isn't an attempt to repair the current system where the coke snorting psychopathic diddlers that make up the 1% get 98% of the wealth. It's going to replace it allowing our good nature to flourish.

"Neither do men put new wine into old bottles: else the bottles break, and the wine runneth out, and the bottles perish: but they put new wine into new bottles, and both are preserved." -- Matthew 9:17

[Laosai]

So tell me in your own words.

When I stumbled upon it I thought it was a decentralized technological powerhouse looking to repair a broken financial system.

I feel like some of you would rather some big corporations just adopt it once and for all so that you can turn it into a pile of funny money.

Was I just being naive?

I'm guessing yes.

For me the purpose of bitcoins I can see is to send money online with convenience, less fees and fast transaction. That's basically one of the purpose why I use bitcoins cuz I have some friends and relatives overseas , and sending money abroad is very costly and inconvenient. Now I'm trying to teach my other relatives that still don't have any idea with bitcoin.

[Xenoph0bia]

The idea behind a bitcoin in that each digital coin has a unique ID, so you change IDs. This is similar to banknotes which have their own ID number but though no one checks it. It is meant to be used in place of money transfers which are based on account information rather than an exchange of something, so bitcoins work more like cash that other digital money exchange systems.

[smith coins]

The purpose of bitcoin is all about money, how it works and how fast it works.
A different system of circulation of money, decentralized, low fee on transaction.
An alternative way to spend your fiat money and i consider it as a Top digital currency beside virtual fiat money.

[QuestionAuthority]

To waste more of my time than drunken masturbating while simultaneously frustrating me more than all three of my ex-wives.

[franky1]

the short version to explain to naive people is..

digital gold.
reasons:
1. limited supply
2. transmittable without need of a physical safe/bank