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Author Topic: The primary idea of bitcoin  (Read 1069 times)
solarion
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November 01, 2017, 04:39:08 PM
 #21

Just imagining that satoshi may be too upset by the world paper money policy dominated only by the superpower, satoshi wants all the same as its currency to be no different between countries, and Bitcoin can do it ease transactions between countries without any currency bonds.

Still if satoshi comes out to the real world whales will kill him for the patent of bitcoin. As he wishes bitcoin will become a international transaction medium for the business and official payment via peer to peer network.
Now fees started increasing, this is ridiculous to send the fund from one wallet to another. There are many still using bitcoin to transact money from one countries to another.

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November 01, 2017, 04:57:53 PM
 #22


I think primary and main idea of bitcoins was to make world a better place to live, to shorten gap between rich and poor, educated and non educated people...
 

Not sure where you got this notion. If you've read Satoshi Nakamoto's white paper on bitcoin, it's clear that what he wanted to accomplish was for money to be exchanged between two individuals without the need for a third party to confirm/uphold the transaction.

To quote Satoshi,

Quote
[Bitcoin is a] purely peer-to-peer version of electronic cash [that] would allow online payments to be sent directly from one party to another without going through a financial institution...

... and then he goes about describing the solution he's come up for accomplishing just that.

Also, note that the proposal for bitcoin was released after the 2007-2009 financial crisis, so you can also see the context where Nakamoto is coming from.

Re: mining farms now holding most of the world's bitcoins -- if true, I sincerely doubt that Nakamoto foresaw the possible 'dangers' to bitcoin if ever there were just a few individuals/groups holding the world's supply of bitcoins. Truth be told, he only envisioned CPUs to be used for mining (and not the mining 'rigs' that are used today), as mentioned in the white paper.

Having just a few groups/individuals own much of the world's bitcoins do seem to pose an issue, as it defeats the purpose for which bitcoin was created-- decentralization.
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November 01, 2017, 05:34:47 PM
 #23

Hello,

I would like to discuss about the primary idea of bitcoin of Mr. Nakamoto. Was he a/is he a person who wanted to make world better place, to take from rich and give to poor, to create new elite? What I am linking to is that at the moment large mining farms, bitcoin visioneers who started in early 2010-2013 now have most of bitcoins and sad (my oppinion) truth is that they will keep growing than most of society stays in poverty.

I think it is socially incorrect situation as it is because I think primary and main idea of bitcoins was to make world a better place to live, to shorten gap between rich and poor, educated and non educated people...

And finally happened what happened, rich got only very small percentage, while others live as they lived before...

What is your oppinion? What was real primary idea of bitcoin? Are we on a right way as Nakamoto visioned?
I think the goal of satoshi nakamoto creating bitcoin is to destroy a very bad financial system. We know that people's lives depend on the economic development occurring in each country and almost all countries are controlled by one country. So it is very appropriate if bitcoin is present as one of the best solutions experienced by the world economy today, because bitcoin is honest and fair. Each asset is managed by the owner of the blockchain wallet individually. This is what is expected to make all circles become equal and prosper the community.
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November 01, 2017, 05:37:02 PM
 #24

The main idea is the decentralized currency that means can do a transaction by peer to peer no third party the idea is about digital currency make a world with online transactions
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November 01, 2017, 05:47:50 PM
 #25

The main idea is the decentralized currency that means can do a transaction by peer to peer no third party the idea is about digital currency make a world with online transactions

Bitcoin's main idea is to decentralize the economy and support the current currency of the country. In my opinion, it is also important to help people who want to work in one way or another.


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November 01, 2017, 05:50:32 PM
 #26

I believe the main reason behind making BTC was to provide financial freedom to people , to show people that decentralised nature actually offers more than that banks do.
People would no longer need a third party like banks to look after their earnings.
Banks are good but we have to work according to their rules and regulations plus the government can peek into our accounts any time they wish .
BItcoins gives  us Extreme privacy , that means no one can know our balance untill we show them , no one could trace our transactions,

]
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November 01, 2017, 06:23:02 PM
 #27

He wanted a way to transact without relying on trust. He wanted to take out central banks from the equation. You can google his whitepaper. He explains it pretty well.
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November 01, 2017, 06:25:49 PM
 #28

The main idea is the decentralized currency that means can do a transaction by peer to peer no third party the idea is about digital currency make a world with online transactions

Bitcoin's main idea is to decentralize the economy and support the current currency of the country. In my opinion, it is also important to help people who want to work in one way or another.

They basically made this decenralized democratic economy with the implementation of bitcoin. We all have access to it and anyone on this world can benefit from this environment. That was the main idea of bitcoin.
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November 05, 2017, 03:33:55 PM
 #29

Hello,

I would like to discuss about the primary idea of bitcoin of Mr. Nakamoto. Was he a/is he a person who wanted to make world better place, to take from rich and give to poor, to create new elite? What I am linking to is that at the moment large mining farms, bitcoin visioneers who started in early 2010-2013 now have most of bitcoins and sad (my oppinion) truth is that they will keep growing than most of society stays in poverty.

I think it is socially incorrect situation as it is because I think primary and main idea of bitcoins was to make world a better place to live, to shorten gap between rich and poor, educated and non educated people...

And finally happened what happened, rich got only very small percentage, while others live as they lived before...

What is your oppinion? What was real primary idea of bitcoin? Are we on a right way as Nakamoto visioned?
Yes you are right the primary idea of bitcoins to make someone rich its actually going to provide opportunity for the people to stand by on his legs and I think everyone must take advantage from it because bitcoin is full of good qualities and now a days it’s very hard to find such a crypto in this world and bitcoin have all these qualities.

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November 07, 2017, 02:37:25 PM
 #30

Hello,

I would like to discuss about the primary idea of bitcoin of Mr. Nakamoto. Was he a/is he a person who wanted to make world better place, to take from rich and give to poor, to create new elite? What I am linking to is that at the moment large mining farms, bitcoin visioneers who started in early 2010-2013 now have most of bitcoins and sad (my oppinion) truth is that they will keep growing than most of society stays in poverty.

I think it is socially incorrect situation as it is because I think primary and main idea of bitcoins was to make world a better place to live, to shorten gap between rich and poor, educated and non educated people...

And finally happened what happened, rich got only very small percentage, while others live as they lived before...

What is your oppinion? What was real primary idea of bitcoin? Are we on a right way as Nakamoto visioned?
Yes you are right the primary idea of bitcoins to make someone rich its actually going to provide opportunity for the people to stand by on his legs and I think everyone must take advantage from it because bitcoin is full of good qualities and now a days it’s very hard to find such a crypto in this world and bitcoin have all these qualities.
Obviously the primary idea of Bitcoin is to provide its users the most appropriate and easiest method of earning their livelihood without putting much efforts and just using their mental skills to cope up with the situations well. Bitcoin is best option when it comes to choosing digital currencies for the sake of trading, investment or other economic issues.

Therefore one must believe in Bitcoins and try to buy more and more of them storing these in the online wallet and securing their future indeed.



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November 07, 2017, 04:11:40 PM
 #31

Hello,

I would like to discuss about the primary idea of bitcoin of Mr. Nakamoto. Was he a/is he a person who wanted to make world better place, to take from rich and give to poor, to create new elite? What I am linking to is that at the moment large mining farms, bitcoin visioneers who started in early 2010-2013 now have most of bitcoins and sad (my oppinion) truth is that they will keep growing than most of society stays in poverty.

I think it is socially incorrect situation as it is because I think primary and main idea of bitcoins was to make world a better place to live, to shorten gap between rich and poor, educated and non educated people...

And finally happened what happened, rich got only very small percentage, while others live as they lived before...

What is your oppinion? What was real primary idea of bitcoin? Are we on a right way as Nakamoto visioned?
According to my basic research and study in this field to find out that what was the basic idea of the bitcoin , that was totally different .
I found a article ( that seems real ) in that article it was mentioned that to make the bitcoin was not the made for the trading and make Cryptocurrency market but that was only the talent of the mr. Satoshi nakamoto to show that he can develop a algorithm that is more better than another banking system that we have in our practical life . But time to time people started thier own technology of new new coin and that made the people to found a way of making investment in different different coins and make earnings easily .
Currently , here I can say that the main basic aim got completed that time easily and now the primary idea is totally deflected from the main path , overall people are using bitcoin for the best purpose and probably in the future bitcoin will be only the main coin for the buy and sell things instead of fiat cash or fiat payment .

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November 07, 2017, 04:19:28 PM
 #32

Its create to have conveniece in life and to have good ideas in different person and country.I think bitcoin will have future because its already authorized in the world as good digital money and for easy transaction.Bitcoin is like a thing that you can't imagine that exist because you can't see it and you dont have any idea where this thing will go

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November 07, 2017, 04:33:16 PM
 #33

A helpful vision of system currency in general use in a particular technological age, like online transaction.
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November 07, 2017, 04:38:19 PM
 #34

Hello,

I would like to discuss about the primary idea of bitcoin of Mr. Nakamoto. Was he a/is he a person who wanted to make world better place, to take from rich and give to poor, to create new elite? What I am linking to is that at the moment large mining farms, bitcoin visioneers who started in early 2010-2013 now have most of bitcoins and sad (my oppinion) truth is that they will keep growing than most of society stays in poverty.

I think it is socially incorrect situation as it is because I think primary and main idea of bitcoins was to make world a better place to live, to shorten gap between rich and poor, educated and non educated people...

And finally happened what happened, rich got only very small percentage, while others live as they lived before...

What is your oppinion? What was real primary idea of bitcoin? Are we on a right way as Nakamoto visioned?

The main goal is to become decentralized. No one person should hold the power to control its price and its rules. Yes, bitcoin right now is kinda hard to get as so many early adopters are holding a big part of it. But I think they deserved it. They are the pioneers, and the one who truly believe in bitcoin. They entrust their money to bitcoin hoping that it will bear fruit. I think we should not worry about them or people around us. Bitcoin is for everyone. If you really work hard, you'll gain it. Just like them. Don't think that they don't work hard for it that's why they became rich. We got the benefits of this crypto, we got a side line work, a new system and a very big community. We should be happy and wait for what will happen in the future.

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dasdo
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November 07, 2017, 04:39:18 PM
 #35

It seems to me that Nakamoto himself did not envision all the possibilities of bitcoin. Now from the bitcoin code many different crypto-currencies arise and are created, with various ideas and economies. This huge scaling of our technological world, a step into the future of the whole society. But the main ideas are decentralization, independence, security, speed, anonymity, low price when transferring money. Roll Eyes
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November 07, 2017, 05:46:51 PM
 #36

Bitcoin is a currency.You can mention it as a modern currency.Bitcoin is approximately like other currencies in the world.But the price of bitcoin is much higher than the others.The price of it is increasing too.We can buy or iinvest bitcoin,hold them,sell them when the price increases,trade them and can shop by them without expressing self identity from any corner of the world.But,it is still illegal in most of the countries in the world.

Bitcoin is a digital or online currency. However, its means of being made and being earned is different from the usual paper money used in the market. It's similarity as a currency comes from the idea that it can be used to buy things or pay for a specific service. Its transfer, although done through transaction from wallet to wallet, is different because what's being passed is data and not "real" money itself. Therefore, it can be used all over the world without need of exchanging it for another currency that is used in that respective country. Like many answers, it is more convenient and a more decentralized way of using a medium of currency.

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November 07, 2017, 05:55:08 PM
 #37

Sathosi Nakamoto wanted to separate government from money.
The goal was creating a decentralized, peer-to-peer currency.
I don't think he intended to create new millionaires, that is just a side-effect.
But to be honest I think that the early investors deserve to get rewarded, because they made this project huge.
 

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November 07, 2017, 08:14:19 PM
 #38

We can't really say what was exactly the original vision of Bitcoin for Satoshi Nakamoto. Some people say that Bitcoin Cash was his original vision, some that it is SegWit1x and the rest uses the same explanation for other hard forks. It would be very interesting to see Satoshi back in this forum when we will have a major problem. As far as I know, there is still his public key available somewhere so we would be able to validate if his account was hacked in such case.

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November 10, 2017, 02:47:07 PM
 #39

We can't really say what was exactly the original vision of Bitcoin for Satoshi Nakamoto. Some people say that Bitcoin Cash was his original vision, some that it is SegWit1x and the rest uses the same explanation for other hard forks. It would be very interesting to see Satoshi back in this forum when we will have a major problem. As far as I know, there is still his public key available somewhere so we would be able to validate if his account was hacked in such case.
indeed in this case we never know, how the vision of bitcoin. because the longer bitcoin is in great demand, it's also unknown if the bitcoin is much in the interest.

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November 10, 2017, 02:56:52 PM
 #40

Bitcoin is created to take war with the monopolised financial system that we have for decades. The banking system that is widely corrupt and been used to oppress the poor and give much advantages to the riches. It is a revolutionary way of saying we don’t need them because we can earn by our own without the government and the bankers help. If it goes to show this factors, this currency will be the equilibrium between a poor and from the rich.
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