Real purpose of Bitcoin

[Upgrade00]

I don't think that such consensus will ever be needed. Only if lightning network gets way too wide spread in the next decade.

This could also be a reason, although, I was envisioning a situation where Bitcoin grows immensely in value that even a 'satoshi' becomes quite a significant amount and we need more Bitcoin denominations to go around as the supply is fixed.

[Wouldn't this change the dust amounts, though?

Not necessarily. AFAIK, 1 sat would still have the same value, just that the protocol would recognize smaller divisions of Bitcoin.

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[ChrisPop]

The fact that Bitcoin transformed into a hedge-type asset like Gold doesn't mean we have derailed from the original purpose. I'm sure that Satoshi thought about this possibility and personally I think this is a step towards his vision. In my view the purpose of Bitcoin is to re-establish the standard of value while upgrading the way we make payments.

[coolcoinz]

When you talk about Bitcoin first thing which most of us thinks either it's a get rich quick scheme or an investment scheme.

This sentence was the point where I lost interest in whatever else you had to say.
Really, where do you get these ideas that the majority of bitcoiners think it's some kind of scheme. Or do you mean the majority of people in the world? The majority doesn't know what Bitcoin is. They don't go as far as calling it a scheme.

[oktana]

Yes, it is losing it's original purpose. Bitcoin was created for a means of transaction. As simple as that! But now, just because of how Bitcoin's price have risen from creation till date, people now see it as an investment scheme which I believe is WRONG! Even though we want to make money of it, let's not let the money buy the importance of the currency. Let's at least respect its original purpose.

When you talk about Bitcoin first thing which most of us thinks either it's a get rich quick scheme or an investment scheme.

This sentence was the point where I lost interest in whatever else you had to say.
Really, where do you get these ideas that the majority of bitcoiners think it's some kind of scheme. Or do you mean the majority of people in the world? The majority doesn't know what Bitcoin is. They don't go as far as calling it a scheme.

He's right about that. Majority thinks so. If not, tell us why people are buying bitcoin so much. Tell us why the hodl' word is frequently used. People just buy, hodl, sell, and repeat. Without even thinking about the real purpose of the currency. What he said is a fact.

[mk4]

I'm sure that Satoshi thought about this possibility and personally I think this is a step towards his vision.

Satoshi may or may not thought of this possibility, but it really doesn't matter. What I'm quite sure of, is that Satoshi is completely aware that Bitcoin is a community project and the community will decide which path it goes. And since the community seems to be pretty 50-50(or both) with Bitcoin being a SoV and for-payment, then so be it.

[gwestcot]

I definitely think Bitcoin has lost its original purpose was was a peer to peer currency. However, it will still have a purpose as a store of value and its my belief that one of or multiple altcoins will operate as a currency in concurrence with Bitcoin.

[Salauddin1994]

The digital currency called bitcoin is being widely discussed the main reason for this is the record increase in the value of this currency it is called bitcoin because it is made up of tiny computer data bitcoin is also called cryptocurrency. Because unlike other conventional currencies it has no value of its own and its existence size or existence is not visible rather it is a virtual token created in a symbolic form in a special process created as a medium of exchange transactions are completed through the peer-to-peer network and the real purpose of bitcoin is to save value through investment.

[Alucard1]

Indeed, a lot of people now see bitcoin as a way to be rich quickly and good for investment, well, both things are true in crypto if you good at it and you put in hard work and time for it. Even though the intention of Satoshi Nakamoto is not that too related to the things that many people thinking bout it, it is fine because there are already a lot of changes happen and time changes, necessary changes so the perception of people changes as well and it differs depends on what people think about it.

[proTECH77]

Bitcoin is not just created for only one particular thing alone, but for so many things that will make humanity to live well in the country. The creator of bitcoin Satoshi Nakamoto created bitcoin to reduce financial challenges in the world and also to improve employment in the world, which many bitcoin users are enjoying it today in different countries of the world.
Bitcoin is a digital currency which can be use in different investment, for anyone to use it, to grow business and profit making in the market, also make their transaction easy and safe in any transaction system in the country. Bitcoin is a decentralized currency which is not control by the government or any central bank, where the government will ask central bank to print more money for the citizens not to feel hardship in the country.
I think bitcoin is created for so many things that Will allow humanity to live well in the world.

[Wawa2013]

I think Bitcoin has not lost the real purpose that Satoshi Nakamoto wanted, because the payment process is still ongoing.
Even the number of merchants who accept Bitcoin payments continues to grow every year. But because the process is slow,
and there are so many obstacles that Bitcoin must face in order to become a means of payment. Make some people think Bitcoin is
more suitable as an investment scheme, even though being a digital asset occurs because the price of Bitcoin continues to rise,
that doesn't mean Bitcoin loses its original purpose.

[imstillthebest]

no im not . till this date whenever i hear bitcoin the first thing will still came on my mind is a digital money but my second thought will be bitcoin is a digital investment . when i talk about bitcoin to someone else i also start explaining that bitcoins is a currency because i dont want to miss lead people and im afraid that they can lost thier money if i will be talking straight to the point and say btc is a quick rich scheme . with a limited supply , im sure that satoshi also thought that his creations will increase in value overtime but with the advantage of btc , its use a currency wont be vanished .

[Strongkored]

It is impossible to control each individual think regarding in real purpose of Bitcoin, this is decentralization everyone has their own meaning as well as their goals, if you think that Bitcoin is an investment or payment or a way to get rich so that's not a problem at all.

[peter0425]

When you talk about Bitcoin first thing which most of us thinks either it's a get rich quick scheme or an investment scheme. Did Satoshi Nakamoto created Bitcoin as an investment scheme? No, it was supposed to be a peer to peer payment transaction across borders without involvement expensive money exchangers or regulators but it has been turned into an investment scheme, where are we heading ? Do you think Bitcoin is losing its original purpose of its invention?

maybe because there are Big Players inside that instead of Pushing crypto currency as payment material,they tend to treat this as asset.
So People that comes inside our community have that same perception and what they do is buying Bitcoin to keep holding,looking for Bull market and then sell.
In which not the true intention of Satoshi,but maybe in future this will change if the world already acknowledge this currencies and accept in market.

[Lorence.xD]

I think Bitcoin has not lost the real purpose that Satoshi Nakamoto wanted, because the payment process is still ongoing.
Even the number of merchants who accept Bitcoin payments continues to grow every year. But because the process is slow,
and there are so many obstacles that Bitcoin must face in order to become a means of payment. Make some people think Bitcoin is
more suitable as an investment scheme, even though being a digital asset occurs because the price of Bitcoin continues to rise,
that doesn't mean Bitcoin loses its original purpose.

This purpose is exploited by the middle man though, the transaction fees are a deterrent to financial liberation, this will only dig its roots deeper and by the time that we realize it, it will not be uprooted easily. It is a good investment scheme as you may put it, it has an unprecedented return of investment that not anyone can predict.

[Josefjix]

It is not losing its first purpose, there are different people using Bitcoin some for the first purpose others as a store of Value and asset to liquidate over time. As far as humans have greed in them, Bitcoin will be used for different purposes. As for me I don't actually care what it is been used for as far as I can use it as a tool and medium of payment which serves its earliest purpose for me.

[romero121]

Just because it is getting importance as an investment, we can't conclude it is losing the importance. If bitcoin hasn't got used as an investment or as a quick rich scheme now something could've eaten it. At the early days it requires a way to progress/circulate. Further slowly the importance will be understood. Just because it has been prioritised as investment/quick rich scheme it didn't lost its core reason of innovation. One side it got used as a peer to peer transaction platform.

The multiple usage has given more strength and usability than the stocks and other forms of investments developed for specific purpose.

[sayaya17]

Based on the facts, it is quite difficult to fully use bitcoin as a digital currency globally because considering there is still stable fiat money in value compared to bitcoin. Perhaps gradually bitcoin will shift fiat money in its use as a digital currency. But not for now. It could be in the future.
Although the use of bitcoin is not entirely a digital currency, nowadays people use bitcoin as a profitable investment asset. Treating bitcoin like this doesn’t matter, because no one can manage bitcoin. Instead, bitcoin is more developed and beneficial to the public. It slightly deviates from the main purpose of bitcoin creation.

[witcher_sense]

When you talk about Bitcoin first thing which most of us thinks either it's a get rich quick scheme or an investment scheme. Did Satoshi Nakamoto created Bitcoin as an investment scheme? No, it was supposed to be a peer to peer payment transaction across borders without involvement expensive money exchangers or regulators but it has been turned into an investment scheme, where are we heading ? Do you think Bitcoin is losing its original purpose of its invention?

Naturally, given that we all have been witnessing tremendous growth in the value of bitcoin for many years, some folks still consider bitcoin an investment scheme to make easy money. In my opinion, the main purpose of Bitcoin has not changed since Satoshi first showed his invention to our world. It is still a peer-to-peer decentralized payment system, which allows folks to transact in a disintermediated manner. As a revolutionary system of money and transferring value, it has certain useful characteristics that make it valuable, important, even vital, and therefore it is in demand amid the population. Otherwise, it wouldn't be thought of as an investment if it hadn't such design and purpose.

[goldade]

When you talk about Bitcoin first thing which most of us thinks either it's a get rich quick scheme or an investment scheme. Did Satoshi Nakamoto created Bitcoin as an investment scheme? No, it was supposed to be a peer to peer payment transaction across borders without involvement expensive money exchangers or regulators but it has been turned into an investment scheme, where are we heading ? Do you think Bitcoin is losing its original purpose of its invention?

I believe that although bitcoin seems as though it's now only meant to be used as a form of investment and not as a currency to make payments, it is only so because there's still need for mass adoption in the mainstream world.
I won't buy anything with my bitcoins if there's no one selling these things and accepts bitcoin as payment. You see my point?
I believe it will continue to be like this until bitcoin is widely accepted in the mainstream world and is accepted as payment for goods and services just like fiat

[ReiMomo]

When you talk about Bitcoin first thing which most of us thinks either it's a get rich quick scheme or an investment scheme. Did Satoshi Nakamoto created Bitcoin as an investment scheme? No, it was supposed to be a peer to peer payment transaction across borders without involvement expensive money exchangers or regulators but it has been turned into an investment scheme, where are we heading ? Do you think Bitcoin is losing its original purpose of its invention?

Exactly, but there are some circumstances in that bitcoin didn't fit into the payment system. You know why? Because of the high fees on it and a slightly slow when it comes to transactions. This is what Nakamoto wants to be a worldwide payment system, but I think the barrier to become on that goal is that bit6coin fees and slow transaction. I guess the reason why people choose to keep their bitcoin and wait until it will fluctuate and make a profit.