Why do we really need Bitcoin?

[Xtra_Coin]

Recently, more and more I have been interested in the question of why Bitcoin was created. Who created it and for what purposes. After all, clearly there are people who control bitokoyn, well, that is - own a very significant amount Bitkoyn. Maybe it's just a new currency to replace the dollar only in electronic form. Until now, nothing is known about the creators of Bitokin. Why we need crypto-currencies, if on the idea you can use the same transfers of money cherz different banks. What happens if bitcoin collapses? Do not judge me strictly, it's just that these thoughts have visited me more and more often lately.

[biarox]

We don't really need BTC. I hate when I see people trying to convince others to sell everything they have to buy BTC, it's disgusting. Bitcoin is a lottery, you shouldn't use the money you need to pay your bills and buy food to bet in the lottery right? Bitcoin is kinda the same thing. People should invest money that in case they lost it wouldn't be a big deal you know? It's a long-term investment, however, it's a bet. You can win a lot or you can lose a lot too. Are you brave enough to deal with this risk?

[RossMack]

people love to use bitcoin, because no one has control over it, no company no government.
I personally believe bitcoin, will keep growing and growing and is not going to stop anytime soon, people think bitcoin is going to burst as soon as it goes down $1000, but that's not the case. it goes up and down but at the end of the day, it keeps on going up and up.

[pietazean]

I also feel like you are experiencing. I also wondered as you asked. but I do not really care about things like that because for me bitcoin really helps me in my life so that I become sufficiency.

[spyderbilt]

I see when I was first in the world of cryptocurrency also minded like you, doubt the bitcoin and ask for whether bitcoin.
but currently when looking at bitcoin has a good price I think bitcoin is very effective for income and income.
when we talk bitcoin whether it will fall i think it's a very difficult prediction if you're talking about bitcoin fallout. because currently the bitcoin is at its highest peak.

[Ciscopro2000]

I think Bitcoin and it’s underlying technology of blockchain decentralized and distributed ledger will usher in another age of innovations.  Many large corporations are already starting to take notice to see how it can help their companies grow.  

[BTCforJoe]

Bitcoin is not just about the pumps and inflation and profits for me. I have a huge problem with banks and centralized currency structures. I don't like that an organization can dictate how my hard-earned money is used, and that it's often used to create 10x the value in the forms of loans. And most importantly, I HATE that fiat banks operate utilizing a private ledger. Banks are rarely held accountable, and as many restrictions and guidelines are required to operate a bank, if everyone were to cash in their notes and balances at one time, there is absolutely no way that these banks are holding enough liquid assets to cover the ledger that they're holding for the entirety of its customers.

Bitcoin and cryptocurrency, on the other hand, is decentralized and operate on a public ledger. The payments and transactions operate (for the most part) on a P2P (peer-to-peer) basis, and doesn't require a centralized organization to share the currency. Every transaction is recorded publicly. You cannot duplicate a Bitcoin, and you cannot create a loan value of 10x (like the banks do) because of the nature of the technology behind it.

So when you ask why we really need Bitcoin... It's because we need it to pave the way for the future of currency. In the near future the majority of currency will officially become digital (most of it currently is already, just not "officially"), and the blockchain will be at the forefront of technology when it comes to how our future digital currency is created. Bitcoin itself may not be the future, but the technology behind it is enough to advance and correct the very discrepancies that we have with our current fiat currencies.

[SyGambler]

Recently, more and more I have been interested in the question of why Bitcoin was created. Who created it and for what purposes. After all, clearly there are people who control bitokoyn, well, that is - own a very significant amount Bitkoyn. Maybe it's just a new currency to replace the dollar only in electronic form. Until now, nothing is known about the creators of Bitokin. Why we need crypto-currencies, if on the idea you can use the same transfers of money cherz different banks. What happens if bitcoin collapses? Do not judge me strictly, it's just that these thoughts have visited me more and more often lately.

yeah if you are living in a first world country you may ask yourself this question since you have access to almost every banking service and you don't care about decentralization
but how about other countries that have no access to banking at all or some countries that got screwed by banks , I guess if you were living in a such country you would know the true purpose of bitcoin

some countries are facing insane inflation and in these countries most of the times you won't be able to exchange for USD or buy gold to protect your value , bitcoin gave a solution for that too

I live in Syria and I have many cousins in the US and other western countries , you know that the law of the US forbid sending money to Syria even if you are sending the money to your brother for example ?? well here you go another use of bitcoin

[globalking]

there is no question why do we need bitcoin we need bitcoin for everything it is a currency and you need currency for every step.

[jake zyrus]

there is no question why do we need bitcoin we need bitcoin for everything it is a currency and you need currency for every step.

Here in the world now every step you make always need money. We need bitcoin it helps me how to invest and gain profit in very easy way. In bitcoin I earn money for my daily needs.

[Mazda17]

there is no question why do we need bitcoin we need bitcoin for everything it is a currency and you need currency for every step.

Very good thinking and I agree with your thoughts.
Every human life definitely needs a lot of money for everyday needs, therefore since we use bitcoin then perbanyaklah follow project project that is available then collect as much as possible bitcoin mopit that you can in the future feel happiness in the income. So we definitely need bitcoin in our lives because bitcoin is the biggest source of income.

[Qitwol]

In my opinion, bitcoin is something for a long-term investment, but maybe in the future it could be a unifying electronic currency

[Showkat Hossain]

 In every step everybody needs money. We need bitcoin because it helps me how to earn profit within short time.

[Bigmacman]

In addition to bitcoin, the Altcoins are now showing good returns, which are in the top 30 by capitalization. I think it makes sense to buy cheap coins, which in a short time can easily grow in 10, and more times, this is much more profitable than buying bitcoin.

[ozk9iz]

Recently, more and more I have been interested in the question of why Bitcoin was created. Who created it and for what purposes. After all, clearly there are people who control bitokoyn, well, that is - own a very significant amount Bitkoyn. Maybe it's just a new currency to replace the dollar only in electronic form. Until now, nothing is known about the creators of Bitokin. Why we need crypto-currencies, if on the idea you can use the same transfers of money cherz different banks. What happens if bitcoin collapses? Do not judge me strictly, it's just that these thoughts have visited me more and more often lately.

A question that I have to answer for my master's thesis. I have read many interesting ideas under this post so far.
Your thoughts will be helpful.  Thank Y'all

[jeraldskie11]

I think bitcoin was created to make our lives better than yesterday in this system. Actually, we really don't need bitcoin for buying our needs because bitcoin has been developed because the value increase fastly.

[Brennus101]

Bitcoin was created by an individual or an organization going by the name Satoshi Nakamoto. The identity behind this name remains unknown, although various hypotheses have been put forward (see e.g. https://en.wikipedia.org/wiki/Satoshi_Nakamoto).

Bitcoin was created to be a decentralized digital currency. As per the white paper (https://bitcoin.org/bitcoin.pdf):

Commerce on the Internet has come to rely almost exclusively on financial institutions serving as
trusted third parties to process electronic payments.
...
What is needed is an electronic payment system based on cryptographic proof instead of trust,
allowing any two willing parties to transact directly with each other without the need for a trusted
third party. Transactions that are computationally impractical to reverse would protect sellers
from fraud, and routine escrow mechanisms could easily be implemented to protect buyers. In
this paper, we propose a solution to the double-spending problem using a peer-to-peer distributed
timestamp server to generate computational proof of the chronological order of transactions.

Moreover, in the so-called genesis block, Nakamoto included the following message:

The Times 03/Jan/2009 Chancellor on brink of second bailout for banks

This suggests that Nakamoto thought that the current monetary system was problematic not just because of how transactions work, but because of how banking works.

The current monetary system is based on so-called fiat money, issued by a central bank. This money can be "printed" at will, if it is deemed to be economically beneficial to do so. One problem is that that this punishes savers, by reducing the purchasing power of their savings. In Bitcoin, new money is also issued, namely through the mining process. However, the total number of Bitcoins is capped at 21 million. Moreover, the issuance is predictable, known by all parties, and incentivizes work done to protect the integrity of the Bitcoin transaction ledger (blockchain).

For these reasons, a digital currency like bitcoin could be good for ordinary people.

[spinno]

Maybe it's just a new currency to replace the dollar only in electronic form. Bitcoin is a lottery, you shouldn't use the money you need to pay your bills and buy food to bet in the lottery right? Bitcoin is kinda the same thing. People should invest money that in case they lost it wouldn't be a big deal you know? It's a long-term investment, however, it's a bet. You can win a lot or you can lose a lot too. Are you brave enough to deal with this risk?
In every step everybody needs money. We need bitcoin because it helps me how to earn profit within short time.

[dothebeats]

No one really needs to buy bitcoin IMO. It's not a necessity but rather a want or a luxury (whatever you call it) that a person could buy in order to experience financial freedom and avoid the watchful eye of the government and the banks when it comes to one's spending habits. Tbh there's not much places you can spend your bitcoins with so why would you need it when you can still use your fiat that's still being widely accepted as a currency? If you're looking for investment, bitcoin can also be a good one but remember that you don't need to invest in every fad that goes viral--especially if you haven't studied them well enough.

[louie69]

No one really needs to buy bitcoin IMO. It's not a necessity but rather a want or a luxury (whatever you call it) that a person could buy in order to experience financial freedom and avoid the watchful eye of the government and the banks when it comes to one's spending habits. Tbh there's not much places you can spend your bitcoins with so why would you need it when you can still use your fiat that's still being widely accepted as a currency? If you're looking for investment, bitcoin can also be a good one but remember that you don't need to invest in every fad that goes viral--especially if you haven't studied them well enough.
[/quote

Probably, most of the people involved surely need bitcoin as this had helped them in many ways like earn profit from their investment. Primarily, bitcoin is something that is a source of income for others and because of its popularity it has gained more support all throughout the world.