The reason behind creating Bitcoin.

[MURONDI]

no one knows for sure the reason behind making bitcoin, only Satoshi and his crew know, but in my opinion there are many reasons behind making bitcoin, one of which is the speed and transaction costs, and freedom over our own assets.

[hatshepsut93]

In 2008, there was a huge economic catastrophe in the world. Some banks conspired and deliberately caused this economic disaster. This is why many people were financially disadvantaged and lost their trust in the bank. I think Satoshi made bitcoin to save people from this disaster. That is, Satoshi has created a currency where there is no third party. There will be no central bank. No one can control it. Customer to customer transactions can be done. While Bitcoin has no controller, no one will be able to intentionally disrupt its finances. Bitcoin introduced a new horizon to the world's economy and freed people from this economic catastrophe.

So I think this is why Bitcoin was created. Is that the only reason? Or are there more reasons? What is your opinion?

Satoshi started working on Bitcoin long before the crisis started, so either he was a genius analyst who foresaw that event, or he had other reasons. I believe in the latter, not because I doubt Satoshi, but because I think it's more plausible - there were many attempts to create decentralized money using cryptography, so it's more of a coincidence that the first truly successful implementation was launched during a global economic crisis.

[White Christmas]

no one knows for sure the reason behind making bitcoin, only Satoshi and his crew know, but in my opinion there are many reasons behind making bitcoin, one of which is the speed and transaction costs, and freedom over our own assets.

All of us don't know the main reason of Satosh why he/she make and develop bitcoin because at the first place we even don't know why he/she invented it because we don't know who satoshi and what the intention he wants. We don't have any chance to ask questions to him or her because no people says that they know who satoshi is. Maybe the faster transaction and less hassle transaction is one of the main reason why satoshi and his team invent or create bitcoin, for the people to use digital currency, and another reason behind it is maybe he knows that through the continues evolving of the world and technology they will already now that this thing will happen.

[inanilujimi]

The reason bitcoin is made is that only the creator knows the answer for sure, and maybe the creator would never have thought it could be this big, because the use of bitcoin now varies according to the needs of each individual.
For me personally this is a good investment tool for the long term.

[AjithBtc]

Several statements were put forth by people stating the cause for the existence of bitcoin. However this has served the people,and continues to make a big difference in the economic development and usage access. When it was created the vision might be small,but as days go the opposition from banking industry and governments portrayed how valuable and effective is the creation of Satoshi.

[barabarian1]

bitcoin and blcockhain technology have become a new breakthrough in our economic system. and I agree with you that Satoshi's main goal in creating bitcoin is to save us from the catastrophic global economic crisis caused by the banking system. and gives us freedom in managing and managing our money. and makes it easier for us to transact between countries in the world.

[BlackFor3st]

In 2008, there was a huge economic catastrophe in the world. Some banks conspired and deliberately caused this economic disaster. This is why many people were financially disadvantaged and lost their trust in the bank. I think Satoshi made bitcoin to save people from this disaster. That is, Satoshi has created a currency where there is no third party. There will be no central bank. No one can control it. Customer to customer transactions can be done. While Bitcoin has no controller, no one will be able to intentionally disrupt its finances. Bitcoin introduced a new horizon to the world's economy and freed people from this economic catastrophe.

So I think this is why Bitcoin was created. Is that the only reason? Or are there more reasons? What is your opinion?

I am a little bit curious also on how satoshi develop bitcoin and what is his/their goal in developing it. As what you have mentioned, there is a big chance that it is true but I am sure that his/their intention in developing it is much deeper from your reasoning.

I love to really hear if in case satoshi leaves a note regarding on why he created bitcoin, is it to disrupt the banking system or he/they have certain goal from it. Did someone tell him to create it or is it funded by a government or a powerful organization then leave the team behind it as anonymous to make use of this opportunity.

[AniviaBtc]

In 2008, there was a huge economic catastrophe in the world. Some banks conspired and deliberately caused this economic disaster. This is why many people were financially disadvantaged and lost their trust in the bank. I think Satoshi made bitcoin to save people from this disaster. That is, Satoshi has created a currency where there is no third party. There will be no central bank. No one can control it. Customer to customer transactions can be done. While Bitcoin has no controller, no one will be able to intentionally disrupt its finances. Bitcoin introduced a new horizon to the world's economy and freed people from this economic catastrophe.

So I think this is why Bitcoin was created. Is that the only reason? Or are there more reasons? What is your opinion?

Well one thing about bitcoin is that it was meant for the people. Whether satoshi's real or not, i think the creators wanted to have an alternative to the current banking system where everything can be controlled and manipulized but people in the higher ups. Bitcoin removes that. Though the more bitcoin's value rises, the more it strays away from it's original uses.

Maybe because they want to make life easier with a digital money to use in everyday lives by paying btc in transactions. Bitcoin can potentially evolve and develop a country's economy because of its capability of becoming a country's currency. It is also a possible alternative to fiat so that you can have a safer bank although its price is volatile but can be preserved and wait for a higher price.

[bounceback]

So I think this is why Bitcoin was created. Is that the only reason? Or are there more reasons? What is your opinion?

In my opinion it is true that satoshi created bitcoin as a virtual currency to free the world from economic disaster and in addition may have created bitcoin to advance technology and facilitate the public when making payments or making transactions because bitcoin is decentralized and peer to peer, which can be fully controlled by users when conducting transactions without central authority or other organization.

[xvids]

In 2008, there was a huge economic catastrophe in the world. Some banks conspired and deliberately caused this economic disaster. This is why many people were financially disadvantaged and lost their trust in the bank. I think Satoshi made bitcoin to save people from this disaster. That is, Satoshi has created a currency where there is no third party. There will be no central bank. No one can control it. Customer to customer transactions can be done. While Bitcoin has no controller, no one will be able to intentionally disrupt its finances. Bitcoin introduced a new horizon to the world's economy and freed people from this economic catastrophe.

So I think this is why Bitcoin was created. Is that the only reason? Or are there more reasons? What is your opinion?

IfI am not mistaken this topic has already been discuss and most of us also believe that the 2008 economical crisis could also be one of Satoshi's reason why he/she created Bitcoin and gave us financial freedom.
Some of us thought that Satoshi is one of those who lose almost everything at the economical crisis.
But I think Satoshi have more reason other than that.

[JC btc]

So I think this is why Bitcoin was created. Is that the only reason? Or are there more reasons? What is your opinion?

In my opinion it is true that satoshi created bitcoin as a virtual currency to free the world from economic disaster and in addition may have created bitcoin to advance technology and facilitate the public when making payments or making transactions because bitcoin is decentralized and peer to peer, which can be fully controlled by users when conducting transactions without central authority or other organization.

Yes not only Satoshi, but almost all of us were sick how government controlling everything, the banking system how they are controlling our money, wherein we are not allowed to transfer a large sum of money as there is a limit with it. Also, the hassle that we are encountering just to deposit/withdraw/transferring money, not that easy especially in poor countries that you need to travel far just to get your money. So, basically that's one of the reason why Bitcoin created.

[Leonardo7]

Yes, part of the major reason for bitcoin creation is for people to have control over their financial lives than continuously have the evil banks lead people into debt and taking the people's financial power from them while the bankers live in affluence at the expense of the depositors. They create a financial crisis and seek a government bailout and loot the same bailout while the crises continue unabated.

[Murat]

Your perception is partially correct because at that time people lost their valuable money by some ill effect of the intended economic crisis, That even was really a predetermined because of the stock market, I think that's why Satoshi was taken this type decentralized monetary system, It's true that Bitcoin is still passing the critical time because people are not taking it seriously for only this reason, but I think Satoshi has made this Bitcoin only for creating a new thing for the monetary aspect, he thought people would accept his creation for their own interest, some people are still manipulating this system.

[maxreish]

If the reason was about the economic crisis status before then I wouldn't disagree about that. But I remembered one time reading an article (Just forgot the website where I have read it) that it was triggered to create to support some illegal activities which I strongly disagree.

Since it makes people more convenient now to control their money thru btc because of the elimination of third parties but I am very positive that Satoshi created this because he wanted the P2P to be known and will eventually changed the usual way of financial control.

Whatever the reason is, bitcoin's purpose has been beyond expectation today and Nakamoto achieved what was his plan at the start.

[the rise]

The vision put forward for the emphasis of long-term decentralization aimed at the single currency in circulation is not under the control of any government policy. Indirectly, the system will prepare bitcoin to anticipate the possibility of repeating a dirty conspiracy in the corridor of a centralized control system. Bitcoin is still always inseparable from manipulation, but this is only part of the process which is ultimately aimed at stability and equity.

[Darooghe]

It was created as an exit from state and bank currency. Even today it is primarily used for regulatory arbitrage. Ironically enough it is also a hedge against Anarchism. If States and Banks disappear than bitcoins largest premium evaporates supporting it's utility, value, and thus security. One day more and more statists will start to realize this inconvenient truth, The strength and growth of the state indirectly supports the premium those will pay for bitcoin to convert energy into fungible value thus they would be wise to invest in bitcoin and the flip side investing into bitcoin supports the security of this anarchistic currency.

[crwth]

I would put my opinion on this as I understood from the Introduction in the Bitcoin Whitepaper [1]. The objective of Satoshi Nakamoto is that the need to have a cryptographic based electronic payment system instead of the trust that is usually given to the middlemen. No more third party. I don't think there's anything more to say because the objective is clear on that one.


[1] - https://bitcoin.org/bitcoin.pdf

[bitbunnny]

I would put my opinion on this as I understood from the Introduction in the Bitcoin Whitepaper [1]. The objective of Satoshi Nakamoto is that the need to have a cryptographic based electronic payment system instead of the trust that is usually given to the middlemen. No more third party. I don't think there's anything more to say because the objective is clear on that one.


[1] - https://bitcoin.org/bitcoin.pdf

Exactly, that was the reason. I would only add that motive was probably disappointment with traditional financial and payment systems and Satoshi wanted to offer something new and different, some alternative and people recognized and accepted that. For all these reasons cryptocurrencies and Bitcoin can only grow and develope further.

[Eugenar]

It could possibly be, because of the emerging technology including financial technology, bitcoin is meant to be created, it is just that, it has a very special characteristics that will make the people even more secured, anonymous and efficient in creating transaction compared to digital money managed by the banks particularly the fiats.

But with these characteristics, there's still allot to discover that isn't included in the whitepaper which is solely be based on our experience to figure it out.

[awaydolly]

In 2008, there was a huge economic catastrophe in the world. Some banks conspired and deliberately caused this economic disaster. This is why many people were financially disadvantaged and lost their trust in the bank. I think Satoshi made bitcoin to save people from this disaster. That is, Satoshi has created a currency where there is no third party. There will be no central bank. No one can control it. Customer to customer transactions can be done. While Bitcoin has no controller, no one will be able to intentionally disrupt its finances. Bitcoin introduced a new horizon to the world's economy and freed people from this economic catastrophe.

So I think this is why Bitcoin was created. Is that the only reason? Or are there more reasons? What is your opinion?

Satoshi felt the need to invent cryptocurrencies, like any disaster won't affect cryptocurrencies, the give and take of bitcoins will be continued. People started believing in cryptocurrencies as there's no third party involved where people can actually rely on. There's no master-slave connection in crypotocurrencies, so people don't have to wait for something to come from master. They can directly have an end to end connection.