What problem does Bitcoin solve?

[Zanab247]

Bitcoin shouldn't depend on exchanges so it's losing my trust..

Don't forget that Bitcoin is not created for one person or a country, what you don't like from Bitcoin is what other people like about Bitcoin that even made them to have more trust on Bitcoin than centralized currency, because of some of the evidence they saw with bitcoiners. I don't think, Bitcoin is based on only exchange alone because many nations adopted Bitcoin because it has potential value to add to their users in the country.

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[CryptSafe]

To the best of my knowledge, Bitcoin has created a niche for itself. The use case of Bitcoin are so numerous to mention. No wonder it is called digital gold and it is therefore tagged store of value and as the first digital currency, it became the most popular and globally recognized digital asset even though most country are yet to recognize or see it so. As the topic implies, the problem solved by Bitcoin depends on individual approach and perspective. It can be used for purchase of property without any much stress and third party involvement to demanding for commission, it is faster and time saving, it has a recorded ledger where every transaction is recorded which can never be destroyed unlike the fiat where evidence can be distroyed without any trace. You can move with your Bitcoin assets from place to place without any disturbance and no one noticing your movement compared to the fiat where bullion vans are used to covey fiat from one place to another which attracts eyes and possibly attacks by armed robbers and lots more making it very risky. All these problems Bitcoin has solved but it takes an opened eye man not biased in thinking to see what we are seeing.

[mendace]

Bitcoin has solved multiple problem from the users, it will continue to help countries, governments, city, town and villages to solve their problems if they are willing to embrace it like the way it solved the problems of other countries, governments, city, villages that embraced it. I have heard and seen how Bitcoin has helped people to became rich by building estates all over the country, establishing businesses all over the country, driving good cars in the community, sending their children to the most expensive school in the country with the help of Bitcoin.

HERE ARE SOME PROBLEMS BITCOIN SOLVE FOR THE USERS:

1) Problem of divisibility: you can divide Bitcoin up to 8 decimal point like 0.00000001 bitcoin

2) The government cannot reach up it's bum and pull because is a decentralized currency.

3) Bitcoin as a decentralized currency solve the problem of the need for a corruptible third party from the central bank.

Let us continue to spread the good news about Bitcoin until the whole world make it legal.

OP I don't think that the problems solved by Bitcoin are expensive cars or houses but what it has solved and can solve in the future are many other aspects.  In particular, we have seen how it solved the problem of double spending or how it excluded the trustee or your bank from a financial system and above all it can solve your privacy which is certainly the main point for which it was created.  Bitcoin will not create rich people but richly free people.

[Sayeds56]

The advantage of Bitcoin's decentralization is that it is not subject to third-party intervention and basically frees itself from government control. Let people actually manage their assets.

At the same time, Bitcoin, as a store of value, also increases investors' income, and many people have truly realized the freedom of wealth through Bitcoin.

The most important thing is that Bitcoin has no discrimination and integrates all countries in the world.

I loved what you said that Bitcoin doesn't discriminate and integrates all nations across the globe, in short it is a global currency which is not controlled by any central bank and its price is determined by the market. The best advantage of bitcoin is transaction across border without any delay & involvement of third party. Though it is very volatile currency but that is its beauty because it provides opportunity to make profit by using trading skills. Volatility is a gift if you have the expertise to manage the risk.

[Piesel]

Hello ops you have not really mentioned the primary problem bitcoin solve which is the elimination of a third-party financial system, this is one of the role of Bitcoin as a decentralized currency.

And also Bitcoin serves as an alternative to the fact centralized currency and as a cross border currency, bitcoin is not entirely a get-rich-quick scheme and also not a means to become rich but a tool that can solve the financial problem such as financial restrictions from the government.

[Woodie]

Bitcoin has several reasons why it exists and it mostly depends on its user! But AFAIK I believe the founders of this digital currency built this coin with an objective of transparency and financial freedom to the people, as you all know that fiat systems aren't efficient enough and lack the transparency that people need. And with the infinite supply of cash that can be printed, the fiat system has no accountability whatsoever which makes bitcoin the perfect substitute for people that are concerned with such matters.

[posi]

The advantage of Bitcoin's decentralization is that it is not subject to third-party intervention and basically frees itself from government control. Let people actually manage their assets.

At the same time, Bitcoin, as a store of value, also increases investors' income, and many people have truly realized the freedom of wealth through Bitcoin.

The most important thing is that Bitcoin has no discrimination and integrates all countries in the world.

I loved what you said that Bitcoin doesn't discriminate and integrates all nations across the globe, in short it is a global currency which is not controlled by any central bank and its price is determined by the market. Though it is very volatile currency but that is its beauty because it provides opportunity to make profit by using trading skills. Volatility is a gift if you have the expertise to manage the risk.

Although bitcoin can be used as a cross-border money transfer method without third-party intervention. But given its volatility, I still consider it an asset rather than a currency because currencies don't move much, in my opinion.

There is one thing I agree with you on, bitcoin's volatility is one of its beauties. I believe we are all here for the volatility of bitcoin, if bitcoin is not volatile, it cannot be profitable for everyone, and people will not look to bitcoin anymore. So I hope bitcoin will never be stable.

[LittleBitFunny]

Bitcoin has several reasons why it exists and it mostly depends on its user! But AFAIK I believe the founders of this digital currency built this coin with an objective of transparency and financial freedom to the people, as you all know that fiat systems aren't efficient enough and lack the transparency that people need. And with the infinite supply of cash that can be printed, the fiat system has no accountability whatsoever which makes bitcoin the perfect substitute for people that are concerned with such matters.

If we compare bitcoin to fiat or gold to see what problems bitcoin can solve, we can see that bitcoin solves almost all of the issues that fiat money and gold have such as privacy, anti-inflation, low-cost means of cross-border payments, secure asset storage, convenience or transparency as you mention...But all of that is not the reason people are interested in bitcoin, what makes people interested in bitcoin is its volatility, its profitability. If one day, bitcoin becomes stable, I wonder if people will continue to support bitcoin or not.

[Zorigi]

about this, everyone has different responses, in my opinion bitcoin is not too focused on being used as a means of payment, but for me bitcoin is a valuable asset, and of course an investment in it.
and in my country bitcoin cannot be used as legal tender, but the government supports its people to invest in bitcoin. so by allowing bitcoin by the government, the community is very helpful in terms of the economy...