Is now Bitcoin being that was supposed to be?

[gizmo123]

When I read original White Paper, there is only mention one purpose Bticoin to be "Electronic Cash System", "Electronic Payment System" no words as "Electronic Currency", "Cryptocurrency", "Be like own bank". When I am reading White Paper it is obvious to me that Bitcoin was to be something like PayPal but works without censorship and permission-less. But in some time narration were changed to "be like own bank", "global currency" and so on, this sounds like fraud from people that was bag holders in early time of Bitcoin

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[Alone055]

1. An "Electronic Cash System" or "Electronic Payment System" that involves no censorship would definitely mean that you are your own bank since you are in total control of your funds and there isn't a third-party involved in keeping or managing them at all.

2. Since Bitcoin is basically a currency itself, so it can be called an "Electronic Currency", or a "Digital Currency". Now why is it called a "Cryptocurrency"? I will tell you why. The word "Crypto" means something that is concealed, or kept secret. So the fact why Bitcoin or all other digital currencies running inside a blockchain are called "Cryptocurrencies" is that they are, to an extent, untraceable or anonymous when it comes to knowing the owner of an address holding funds or an address a transaction has been generated from. Otherwise, there is no denying the fact that Bitcoin is an Electronic Currency.

3. A currency that is used globally is tend to be called a "Global Currency". There is nothing wrong in calling Bitcoin or any other digital or crypto currency to be global currencies since their usage is not limited to one particular country or only to one side of the Globe, but they are used everywhere, and that is why they are called "Global Currencies".

[BitcoinGirl.Club]

this sounds like fraud from people that was bag holders in early time of Bitcoin

Where is the fraud LOL

@Alone055 you have explained well. I left you two merits. I guess OP is having terminology issues.

@OP, this is how I interpret:
"Electronic Cash System" > Cash is money > money is currency > "Electronic Currency"
Since we are dealing with cryptography for privacy means "Cryptocurrency" should not bother us.

"Be your own bank" Since I control my own money I can say that, can't I?

[gizmo123]

2. Since Bitcoin is basically a currency itself, so it can be called an "Electronic Currency", or a "Digital Currency". Now why is it called a "Cryptocurrency"? I will tell you why. The word "Crypto" means something that is concealed, or kept secret. So the fact why Bitcoin or all other digital currencies running inside a blockchain are called "Cryptocurrencies" is that they are, to an extent, untraceable or anonymous when it comes to knowing the owner of an address holding funds or an address a transaction has been generated from. Otherwise, there is no denying the fact that Bitcoin is an Electronic Currency.

nope this is not basically currency itself, it was named as this by group of people, but in real life can you use Bitcoin as real currency? can you hold on wallet Bitcoin and buy things in shop like with other fiats? Do people will accept that they funds can be drastically change in short period of time? bitcoin doesnt fit to currency purpose, the best purpose is buy Bitcoin -> Send to anyone and any vlaue you want without censorship -> Reciver sell BTC for fiat, this is what Bitcoin was supposed to be for me (and this was way from origin), not for announcements that this is currency and will change the world, when I hear that announcements it sounds like scam.

[gentlemand]

Bitcoin is whatever its participants agree it is.

It sounds like you want to register a complaint to someone which is perfectly justifiable.

Here is my suggestion.

His Holiness, Pope Francis
Saint Martha House
00120 Città del Vaticano, Vatican City

Please include a stamped addressed envelope and a small gift if you want this problem dealt with promptly. I believe he collects Tamagotchis.

[Alone055]

@Alone055 you have explained well. I left you two merits. I guess OP is having terminology issues.

Thank You. Appreciate that. I guess the same about him-- that is the reason why I explained it totally so that he may understand that there is nothing wrong with the terms people use about Bitcoin other than the one's that are written in the Whitepaper.

in real life can you use Bitcoin as real currency? can you hold on wallet Bitcoin and buy things in shop like with other fiats?

You can, where it's accepted. I know it is not accepted everywhere yet, but you cannot deny that it is a currency that can also be used for purchases like normal. Some examples for you down below:

https://www.youtube.com/watch?v=zWsd1WwhhNg

https://www.coindesk.com/kfc-canada-is-accepting-bitcoin-for-fried-chicken

You can find more if you Google it. 

[gizmo123]

You can, where it's accepted. I know it is not accepted everywhere yet, but you cannot deny that it is a currency that can also be used for purchases like normal. Some examples for you down below:

You can not name currency thing, that every merchant exchange to real currency as soon as possible when he get payed, Term "assets" is more accurate for Bitcoin

[coolcoinz]

You can, where it's accepted. I know it is not accepted everywhere yet, but you cannot deny that it is a currency that can also be used for purchases like normal. Some examples for you down below:

You can not name currency thing, that every merchant exchange to real currency as soon as possible when he get payed, Term "assets" is more accurate for Bitcoin

What does "real currency" mean? Which currencies are real and which are unreal? Does a country standing behind a currency makes it real, or maybe the use cases do? For instance, there's a country behind The Zimbabwean Dollar, but there are no use cases. The bills aren't even fit to be used as toilet paper.

[Yeahpro]

Send to anyone and any vlaue you want without censorship -> Reciver sell BTC for fiat, this is what Bitcoin was supposed to be for me (and this was way from origin), not for announcements that this is currency and will change the world, when I hear that announcements it sounds like scam.

So your posit, is that Bitcoin was designed to enable users send money to each other? By converting Fiat to Bitcoin, sending to the other party and then converting again.
This would make it redundant as you can do that directly with fiat on a number of platforms.

Bitcoin's whitepaper discusses briefly the flaws of the currency financial system by creating a currency which would be controlled by its community and be used for peer to peer transactions.
Bitcoin fits as a global currency and as a crypto currency

[franky1]

to clarify

currency is an umbrella term it is top category
below that are forms of currency.
such as asset currency, national currency,commodity, personal, and so on

anything can be a currency.
yep cigarettes are a currency (to inmates in prison)
food and clothing are a currency (to homeless)
drugs are a currency(to addicts and prostitutes)
sexual favours are a currency (to women with sugar daddies and pimps and husbands)
vodka and beer are a currency ( to friends that do favours for each other)

things like cash are a sub category of currency
currency is not a sub category of cash

assets are a sub category of currency
currency is not a subcategory of assets

once you put the word currency onto paper and then do a spider diagram out for all the subcategories. you will see the big picture
its not a case of looking for the currency withiin the electronic cash. its the case of looking for the electronic cash within the term currency.
bitcoin simply added itself as another subcategory of currency..

[dothebeats]

Perhaps you are looking at these words and their meanings on a constricted manner, limited to only what the dictionary says. Bitcoin still lives true to its advertised usage, an 'electronic cash system' but if you also read Satoshi's posts regarding bitcoin, you can see that he supports decentralization, hates the current financial system and sees his creation as a tool in which anyone can use to help themselves become free from the chains of the banks and governments. Bitcoin is not just a payment system as you would like to imply, it is also a tool that can serve as a currency and as a haven from the fiat system.

[KingScorpio]

When I read original White Paper, there is only mention one purpose Bticoin to be "Electronic Cash System", "Electronic Payment System" no words as "Electronic Currency", "Cryptocurrency", "Be like own bank". When I am reading White Paper it is obvious to me that Bitcoin was to be something like PayPal but works without censorship and permission-less. But in some time narration were changed to "be like own bank", "global currency" and so on, this sounds like fraud from people that was bag holders in early time of Bitcoin

no, it was originally meant to be a currency, but it became then through speculations a "storage of value" due to extreme transaction costs, till it then became a "burning dumpster of value"

i expect the next step in the evolution to be

-> Burning dumpster of value and obvious attention hack

that would be another low.

[Theb]

Let us keep in mind that the OP forgot to mention one important thing in the whitepaper and that is the avoidance of using financial institutions as a trusted third party in handling the payments. In all honesty this part alone has been achieved by Bitcoin ever since it was first introduced it has promise a purely Peer-to-Peer payment system and it has achieved it, aside from people who are using escrows in their payment you can see that most transactions online don't even need a third party to be involved in order for a transaction to take place.

[BitcoinGirl.Club]

<snip>

Could not explain any more better. Well explained.  The main motivation behind bitcoin creation was a decentralised financial system.

[farosa]

Bitcoin was created for transactions without the participation of a third party, and so it is, but if you look at the truth, bitcoin is used more as an object of investment and profit. But the essence and idea of it does not change .

It is even possible to make money from the USD itself and this does not prevent us to calling USD as a currency. Why do you think we call Bitcoin as a currency, but not others? Because, if power had been in the hands of the communities that understood this system and it should have been done, it had already been accepted.

[cryptomaster420]

Bitcoin is whatever its participants agree it is.

It sounds like you want to register a complaint to someone which is perfectly justifiable.

Here is my suggestion.

His Holiness, Pope Francis
Saint Martha House
00120 Città del Vaticano, Vatican City

Please include a stamped addressed envelope and a small gift if you want this problem dealt with promptly. I believe he collects Tamagotchis.

Not sure why a genuine question provokes a troll response?
OP is correct, we can't complain that ICO-s scam people by not delivering on what their whitepapers promise, and at the same time turn a blind eye to Bitcoin.
Digital Gold should have been a separate currency, but the western part of the community only cared about getting rich quick - so they turned BTC into something that lacks fundamentals. And now we're paying the price.

[pooya87]

2. Since Bitcoin is basically a currency itself, so it can be called an "Electronic Currency", or a "Digital Currency". Now why is it called a "Cryptocurrency"? I will tell you why. The word "Crypto" means something that is concealed, or kept secret. So the fact why Bitcoin or all other digital currencies running inside a blockchain are called "Cryptocurrencies" is that they are, to an extent, untraceable or anonymous when it comes to knowing the owner of an address holding funds or an address a transaction has been generated from. Otherwise, there is no denying the fact that Bitcoin is an Electronic Currency.

nope this is not basically currency itself, it was named as this by group of people, but in real life can you use Bitcoin as real currency? can you hold on wallet Bitcoin and buy things in shop like with other fiats? Do people will accept that they funds can be drastically change in short period of time? bitcoin doesnt fit to currency purpose, the best purpose is buy Bitcoin -> Send to anyone and any vlaue you want without censorship -> Reciver sell BTC for fiat, this is what Bitcoin was supposed to be for me (and this was way from origin), not for announcements that this is currency and will change the world, when I hear that announcements it sounds like scam.

when ancients started using arrow heads as a currency, there were people who said it can not be used as a currency, its value drops if the head is not sharp enough! and it is easy to lose it and what am i gonna hunt with if i spend my arrows! but it became a currency nonetheless.
then when they first created "coins" as a currency there were people who were complaining and saying that is a piece of metal with a freaking head on it, it can not be a currency. we will stick to our salt and tobacco to barter with and use as currency.
when the digital banking started people started saying it is numbers on a computer, it will stick with cash because it doesn't make any sense to me to use a computer, a piece of plastic card, my phone,...
now that we are introducing decentralized crypto-currencies there are people who are saying the same things.

in short it has always been like this with any change. people resist it and keep comparing it with the previous obsolete methods. that is also why in the beginning at the ground floor things look like this with volatility, lack of adoption and all that.

[Kakmakr]

Bitcoin was developed by Satoshi to serve as an alternative payment network to the centralized solutions that are being exploited in the past. The Banks and centralized payment networks abused their monopoly and Bitcoin was supposed to replace them, but it did not work out exactly like it was planned.

These centralized entities has managed to infiltrate Bitcoin too and it destroys Satoshi's vision for this technology. 

[Xk80jq]

  Maybe we can enter acting some other groups of society to promote more to the public about the benefits that can give bitcoin. This is important to survived our campaign if too many or all people will be using this currency.

[dewildance]

When I read original White Paper, there is only mention one purpose Bticoin to be "Electronic Cash System", "Electronic Payment System" no words as "Electronic Currency", "Cryptocurrency", "Be like own bank". When I am reading White Paper it is obvious to me that Bitcoin was to be something like PayPal but works without censorship and permission-less. But in some time narration were changed to "be like own bank", "global currency" and so on, this sounds like fraud from people that was bag holders in early time of Bitcoin

We have some network issues on Bitcoin Blockhain network. But it is not about Bitcoin. Bitcoin is obviusly here but we only wait for mining to reach 21M. Then we only need good network.