Real purpose of Bitcoin

[jaresmerel001]

General Purpose is to serve as digital currencies that can be used when calling functions on blockchains to pay transaction fees. These functions vary and can be defined on the basis of various blockchain types.

The purpose of cryptocurrency, is either to serve as a store asset (as in the case of bitcoin for some individuals), to serve as an investment tool or to be used as real money for daily transaction.

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[KnightElite]

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.

That's correct where there are times that the fees are so high wherein you will have doubts if you will send it through btc or just pay using fiat money. The thing is the purpose of the bitcoin depends on your perspective and where situations are you in. There are people who are experiencing hyper inflation where their fiat money doesn't have value anymore and those people who are experiencing are seeing bitcoin as the best way to make transaction for them to avoid the inflation. As for my economy, there is inflation but not exaggerated like other's inflation rate and it is the reason why I see bitcoin as an investment or financial instrument than as currency. We have different purposes after all so it doesn't matter if you will see it as investment or as an currency.

[milani]

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?

May be in some way it is so. But I think that it is not bad that Bitcoin has broaden its' purpose. It is good that people consider Bitcoin as a valuable perspective asset, that is used not only different transactions but like the asset that may give you profit some day. And ideas transform very often. This transformation is for the best I think.

[budi691]

yes indeed for now many people think Bitcoin is a promising investment, and it's a little different when Satoshi wants Bitcoin as a payment system without a third party.
maybe because the government regulations of each country are difficult to make Bitcoin as a medium of exchange, so in the end bitcoin is only for investment

[Yatsan]

As time goes by, the real purpose of the creation of Bitcoin to create peer to peer transaction without the need to third party and to serve as payment transaction is being achieved in the real world and it is still being existent that transaction through Bitcoin becomes seamlessly fast that it can get through any part of the world. As many people get into Bitcoin, the real purpose of it have been added by other purposes for people have perceived it not just as a currency but an investment asset as well making new comers to think that it is a key or a fast way to get rich. Actually the purpose of Bitcoin nowadays are now being dependent on the user if he will be using it as a currency or an asset of investment or both which shows how flexible Bitcoin is when it comes to usage. As time goes by, the massive adaptation and usage of Bitcoin gives way for another purposes to arise upon using Bitcoin which is good that from its original real purpose, lots of purposes can still be filtered out to maximize the usage of it for the benefit of all.

[Shasha80]

No, nowadays many countries use bitcoin as payment in the purchase of goods and services. But of course, that is not the case in my country,
because in my country should not be used for payment. Many countries only use bitcoin for investment assets, because the government
has not officially legalized them. But until now I have also waited for when in my country can freely use bitcoin like in other countries,
can pay for food using bitcoin. This is really interesting.

[samputin]

~

May be in some way it is so. But I think that it is not bad that Bitcoin has broaden its' purpose. It is good that people consider Bitcoin as a valuable perspective asset, that is used not only different transactions but like the asset that may give you profit some day. And ideas transform very often. This transformation is for the best I think.

Well said. Also, I think it depends on the person on how he/she will view or use bitcoin. Yes, bitcoin might be created for peer-to-peer transactions but that doesn't remove the possibility of it being used in a different way like an investment. Additionally, I think it's better to think of it as an evolution of its usage or purpose rather than think of it as losing its original sense. After all, change is the only permanent thing in this world.

[Kelvinid]

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?

It is to think that the real feature isn't realized yet, but somehow in the future? May it wasn't just lied and focus as for currency as the main feature but we saw potentials being considered as an investment where we are actually enjoying is this time and could be still in the future. I can't say also that we Bitcoin losing its original purpose we are started to use it as a currency but the problem is its consistency since not all are opened yet for business transactions that accept Bitcoin.

[meetthechallenge]

Well said. Also, I think it depends on the person on how he/she will view or use bitcoin. Yes, bitcoin might be created for peer-to-peer transactions but that doesn't remove the possibility of it being used in a different way like an investment. Additionally, I think it's better to think of it as an evolution of its usage or purpose rather than think of it as losing its original sense. After all, change is the only permanent thing in this world.

Agree. I believe that bitcoin offers someone much more opportunities than a store of value asset. However, such is life that people can pick and choose what they derive from the things outside of themselves. Maybe it is for the best since more people will get the chance to appreciate the talent that bitcoin holds...

[yazher]

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?

Scammers always find their way to fool people with anything they see and Bitcoin is one of them. too bad from its early years, Bitcoin has been used for crimes and fake investment schemes to fool people. Thankfully, after more than 10 years, we are now entering the day when we say about Bitcoin, people don't think of negative thought anymore since everything about Bitcoin has been clarified and the evidence for that is what we see in the market today.

[doomloop]

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?

Bitcoin didn’t lose its main purpose, rather the more was added to it. That others are using it for investment doesn’t mean that you’re also going to be using it for investment, it’s meant for you to decide.

I have been using bitcoins for years, despite that a lot of people were mainly investing in it I never did that, I was just using to receive money and that’s still my main purpose for using it till now, I just invest a little which I started doing newly. Back then every amount that goes into my wallet doesn’t stay more than an hour before I convert it to fiat.

[CODE200]

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?

Scammers always find their way to fool people with anything they see and Bitcoin is one of them. too bad from its early years, Bitcoin has been used for crimes and fake investment schemes to fool people. Thankfully, after more than 10 years, we are now entering the day when we say about Bitcoin, people don't think of negative thought anymore since everything about Bitcoin has been clarified and the evidence for that is what we see in the market today.

No, misconceptions do still exist.
Why are there people who are still hesitant to use this technology? Simply because there are still negative thoughts. Bitcoin and other cryptos are being used on investment purposes and not mainly as a digital currency. In line with this, many people are still afraid that the market value could suddenly fall which will yield to loss, basically and we just cannot ignore the fact that not all people are open to take risks regarding investments. These people are more likely into convenience alone with regards to transactions.

[dificanovi]

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?

Bitcoin is indeed used for peer to peer payment transactions but is rarely done by the public.  at this time people only see the advantages of investing in bitcoin, they enjoy all the benefits so that they use bitcoin only to invest.

[GelatikKembar]

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?

Bitcoin is indeed used for peer to peer payment transactions but is rarely done by the public.  at this time people only see the advantages of investing in bitcoin, they enjoy all the benefits so that they use bitcoin only to invest.

transacting with Bitcoin, paying for food or drinks with Bitcoin and various other things are still very bad for Bitcoin,
why? because transaction fees are very expensive.

[oprahwindfury]

Nowadays, Bitcoin is familiar for investing and  earning money by trading and  holding etc though it was for the transfering amount without any problem and delay. AS well as here is an additional option right now that people can earn money and get extra benifits. So, if here is a facility of earning why shouldn't people take it. Bitcoin is popular so people can make money with it as well as they can also transfer bitcoin and they are doing both.So, this is not something special that we have think may be.

[YOSHIE]

Do you think Bitcoin is losing its original purpose of its invention?

I think Bitcoin still shows its true identity as said by its creator:

Bitcoin is money, and money is always used for both legal and illegal purposes. ... Bitcoin is designed as a major step towards making money safer and at the same time serving as a form of protection against financial crimes. for example, bitcoin cannot be counterfeited at all.

However, the question is why people do Bitcoin as an investment/trading asset.

If, I answered that Bitcoin has a volume and price that changes every second, hour and day, this is where people think that bitcoin was not just made for 'peer to peer' but it tends to be used as an investment and profit asset.

If the price of Bitcoin did not change up and down maybe people would not think of investing, it is precisely from that price change that Bitcoin is used and made a valuable asset for the world community.

[kryptqnick]

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?

There's no one 'real purpose' of Bitcoin. The original purpose was, I believe, a decentralized medium of exchange (money) which could be used without third parties. That's the idea Satoshi put in it. But with time, people started hodling BTC, trading BTC, putting wealth to keep it safe in BTC... And all these things have their risks and potential benefits, they can all work for some people sometimes and now constitute the purposes of Bitcoin. The original purpose is still there with some progress on adoption, but I think it's on the outskirts for the majority of people and I'm not sure whether significant progress in that area is to be seen in the near future.

[Twentyonepaylots]

No! Bitcoin is not losing it's original purpose of existence, investments and other activities that involves Bitcoin is just a kind of adoption because people feel convenient that way.

Well that was the very point, if you read the bitcoin's whitepaper it isn't made for holding investment but rather a currency that should be widely used because it is convenient. That was the very purpose of bitcoin written by Satoshi, but then he made it decentralized and we know how people would react on it so it began to be an investment.

As a new form of payment system the Legendary Satoshi Nakamoto has not failed it's community nor the community to the founder because what has started has been there for years and counting. Bitcoin payments are becoming more visible compared to past previous years as the community and countries are started to embrace Bitcoin as a new payment method at the same time as an asset to some investors.

I can agree, bitcoin is widely recognized in the world, more visible in payment methods anywhere but the thing is people don't really use it that much, I assume people is hesitant in spending bitcoin. I think it'll be years for bitcoin to be in the main system of payment.

[Fredomago]

No! Bitcoin is not losing it's original purpose of existence, investments and other activities that involves Bitcoin is just a kind of adoption because people feel convenient that way.

It's still being use as payment process so it's not losing the purpose, holders still controls their assets and no one else if you have your
private key, the very purpose why this system has been created, freedom from traditional financial system.

As a new form of payment system the Legendary Satoshi Nakamoto has not failed it's community nor the community to the founder because what has started has been there for years and counting.

Correct! It's not been changed, not even most are using it for trading/investing purpose but still it's continue being used for transacting between borders.

Bitcoin payments are becoming more visible compared to past previous years as the community and countries are started to embrace Bitcoin as a new payment method at the same time as an asset to some investors.

This is what all of us wanted to happened, even Satoshi seeing that this system has been co-exist with both traditional fiat system and all other digital payment process. Bitcoin continue to achieved Satoshi's dreams continue to live.

[CyberKuro]

As long as people still use bitcoin as a medium of exchange, we can say that it's not losing the original purpose even if 90% of people presume bitcoin as an asset, an investment, or a gambling tool.
Nonetheless, most transactions occur in exchanges between traders to make a profit, that's why you think it's losing the primary objective. But how do you expect bitcoin to spread widely among people worldwide without buy and sell on exchanges?