What was the idea behind the creation of Bitcoin?

[Marvell1]

For me, the idea behind Bitcoin creation is financial independence where people don't have to trust the third-party financial institution in transferring money.  It is all about the financial transaction freedom and the banking of the unbanked.

It is also stated that Bitcoin was created to be a currency to use for payments.

I really like your explanation, short, concise and easy to understand. Indeed, “financial independence” is the goal for which bitcoin was created. Whether we use bitcoin as an investment, a peer-to-peer payment method, or turn it into our own bank...it all helps us become financially independent. Bitcoin not only provides the opportunity for financial freedom but also gives us full control over our assets without having to depend on any organization. So no matter what people use bitcoin for, it doesn't take away from the idea behind its creation.

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[adaseb]

The main idea was to prevent what happened during the global finance crisis. That crisis happened because banks were way over leveraged with money they didn’t have and then later on the governments had to bail them out with tax payers funds.

Bitcoin fixes this because the max cap is 21M and the supply is slowly added to the market and not instantly like it was during those crisis periods. This is one of the reasons why it was invented.

[Rruchi man]

Come to think of it ,understanding the reason something was created gives you the best sense of use and therefore an edge over others in the same space which in this case is the crypto space.

Bitcoin was created for use as a currency to terminate the need for third party control by the government. That is reason for bitcoins, yet for many of us despite having this understanding, we have accepted that as the best use for our bitcoins for the now, we should be hodling it, keeping it as an investment instead of a currency. That was not the reason for bitcoins, but I will not see someone who always use their bitcoin to make purchase and never keeping any bitcoins, as having an edge over me that has decided not to use bitcoins yet for what it was created for.

[bluebit25]

-snip-

In short, idea is to create a new currency.

But this is really important here because as I feel and observe, these are things that everyone knows when starting out in this field, but success or failure is not really tied to this. Coming back to the nature of investing, and everyone hears about bitcoin and knows that it offers great opportunity.

[franky1]

A lot of people talk about steps to becoming a good Bitcoin investor or tech bro in the crypto space. The point is how really can this be achieved?.well achieving this is not a very simple task , however there is a simple point to note.
To become successful in the crypto space you have to first understand the idea behind the crypto space (emphasis on Bitcoin).
The first question is what is the idea behind bitcoin. It may seem vague but it was this idea that prompted the pseudonymous entity Satoshi to create Bitcoin.
 This idea was;
 1. Creating a currency that was not controlled by any entity especially the government.This can be summarized as Decentralization in other words you are in total control of your assets.
 2. Creating a currency that would not require any means of identification.Making it quite impossible to totally track a user still making it possible to notice transactions by that user.This can be summed up as Anonymity.
3.Creating a currency as secure as possible.
With these being said,logically the main idea behind bitcoin is Anonymity,Decentralization  and Security.

Come to think of it ,understanding the reason something was created gives you the best sense of use and therefore an edge over others in the same space which in this case is the crypto space.

And most importantly Don't forget to keep your keys safe 😁

1. not just control of assets but control of the data and rules WAS(emphasis) the purpose of full nodes and the network protocol
.. i say this because cryptography of key signing is the part of coin asset control. but the blockchain is about the data and rules of whats acceptable.

any wallet can control coins. but a full node has other purposes above just coin control

2.you can track/audit the coins, its a PUBLIC ledger. but it does not require human identification so its pseudonymous

3. security has decreased in recent years with the allowance of a centralised dev group implementing rule change activations before node majority readiness. its something we should not ignore and should not let continue to risk the integrity of the network/data security

the allowance of these rule change activations by centralised groups without majority node readiness/vote(consensus) is where decentralisation is becoming just a PR buzzword and not a functional feature.

core are becoming bitcoins "government"(politicians) so we need to scrutinise, review and call them out when they abuse their powers. and try to prevent them from abusing the control as much as possible, especially if it goes against the benefits of the majority

[fuguebtc]

Come to think of it ,understanding the reason something was created gives you the best sense of use and therefore an edge over others in the same space which in this case is the crypto space.

Bitcoin was created for use as a currency to terminate the need for third party control by the government. That is reason for bitcoins, yet for many of us despite having this understanding, we have accepted that as the best use for our bitcoins for the now, we should be hodling it, keeping it as an investment instead of a currency. That was not the reason for bitcoins, but I will not see someone who always use their bitcoin to make purchase and never keeping any bitcoins, as having an edge over me that has decided not to use bitcoins yet for what it was created for.

Whatever the original purpose of bitcoin is, it no longer matters, what matters is what it is becoming and we need to adapt to that.We cannot fight the mob just because people are using bitcoin for the wrong original purpose. Furthermore, the fact that bitcoin is used as a currency is not approved and accepted by the government, will anyone have the courage to fight against the government to realize the purpose of bitcoin? Some people always go on social networks to call and mobilize others to fight against the government, but do they themselves do it out there? No one is willing to sacrifice themselves for the good of the community, personal interests always come first.

I see many people saying that bitcoin is straying from its original purpose and they feel sad about it but why are they also considering bitcoin as an investment?

[Blitzboy]

Bitcoin was an innovative and direct challenge to existing banking institutions. Many believe Satoshi grew tired of major banks and governments' power and influence. He declared "Enough is enough!" with Bitcoin.

While being knowledgeable about the fundamentals of Bitcoin gives you an advantage, you also need to recognize that the current financial systems arent doing nothing. When strong people are terrified, they manipulate. They will promote misinformation, paint Bitcoin as a criminal tool, or persuade governments to limit it. So, as you learn about Bitcoin, make sure you also know whats going on in the world.

[Nrcewker]

The reason behind the creation of this beautiful coin was that, the founder Satoshi wanted a decentralised mode of payment system. So he initially developed the idea of Bitcoins along with other few members. He was able to make a decentralised mode of payment which will be free from any governing body and will be free of taxes. Yes today we are using Bitcoins as something else. Now bitcoins are mainly used as an asset. People buying in cheap and holding it, and at last selling in high price.

[bayu7adi]

Indeed, at the very least, with this thread, no one is left pondering the true purpose of Bitcoin. While the answer may not be exhaustive, it adequately represents the utility and advantages of Bitcoin when compared to FIAT currencies.

Beyond its functions, some argue that Bitcoin can also serve as an investment instrument with the potential for future gains. Betting on price volatility is a common practice, and since there are no standardized regulations governing it, it doesn't fall into the category of prohibitions.

Count me among those who purchase Bitcoin for the purpose of savings. I often use a portion of my BTC balance for transactions as well.

[Hatchy]

From what we can see today, Bitcoin has provide even more that it's main purpose of creation. Satoshi noticed how the governments controlled the masses using the banks and saw a way to fix this. His major purpose wasn't to go against the government, but to create another form of currency which the government can not control. Bitcoin today has serve even more than that, it is seen by many in forms like digital gold, investment, for cross border payment, financial inclusion and much more. It's evolving nature has brought more investors into using it. it's true that understanding philosophy and principles of Bitcoin is key to making informed decisions and navigating the crypto space effectively.

 2. Creating a currency that would not require any means of identification.Making it quite impossible to totally track a user still making it possible to notice transactions by that user.This can be summed up as Anonymity.

 I don't think this is still a thing for people using CEX where they are required to do the KYC verification. The concept of anonymity in Bitcoin has changed over time, when you're using centralized exchanges (CEX) that require Know Your Customer (KYC) verification. When you go through KYC, you're providing personal information that ties your identity to your cryptocurrency transactions, removing the idea of anonymity

 

[Magic-Money]

Bitcoin is created for every users to become on his or Bank officer as the name implies as a digital currency, which works perfectly online as means of payment or purchase good's and services, in other words Bitcoin is created for online trading buying and selling order to make profits.

[Ruttoshi]

Bitcoin was created as an alternative currency to give finacial freedom to people through p2p payment system, where a third party is excluded in carrying out transactions, due to its decentralized nature. Bitcoin enables users to be their own bank and safe users from bank fees and taxes.

The most interesting aspect of bitcoin is that it has gone beyond the purpose of which Satoshi created it, as it has been used as a store of value due to the fact that it is am hedge to inflation. Most people now take bitcoin as an investment due to the volatile nature of bitcoin. Satoshi never planned all these for bitcoin.
But as time passes by, people started to see more potential in bitcoin.

[CryptSafe]

OP if we are to go by your topic matter, there are lots of reasons for Bitcoin development and hence the Bitcoin ecosystem. I strongly believe that the most important reason for Bitcoin invention was to do away with government regulations and central control so that the masses could be in charge of their assets  which would be void of these third party affiliation. Privacy is also key factor too when ever you are doing a transaction.
This is the one that gives me joy the most. Bitcoin is mobile. You can move with it any where in the world as long as you have access to your keys and your mobile device, third parties are not needed here to do this for you. You can just easily move about with it without requesting third party to do a transfer or following procedures before your money is transferred to you in fiat be it local or foreign currency. Bitcoin does not need all these procedures and protocols.

[flyingcarpet]

The reason behind the creation of this beautiful coin was that, the founder Satoshi wanted a decentralised mode of payment system. So he initially developed the idea of Bitcoins along with other few members. He was able to make a decentralised mode of payment which will be free from any governing body and will be free of taxes. Yes today we are using Bitcoins as something else. Now bitcoins are mainly used as an asset. People buying in cheap and holding it, and at last selling in high price.

Most of the people who hear the name of Bitcoin do not know for what purpose Bitcoin was created. As with many things these days, they are approaching Bitcoin just to make a profit. I am not criticizing these people, but I want them to research Bitcoin and be informed.

In order for Bitcoin to achieve its purpose, it needs to reach everywhere and every person. For this to happen, people should not see Bitcoin only as an investment tool.

[BVeyron]

A lot of people talk about steps to becoming a good Bitcoin investor or tech bro in the crypto space. The point is how really can this be achieved?.well achieving this is not a very simple task , however there is a simple point to note.
To become successful in the crypto space you have to first understand the idea behind the crypto space (emphasis on Bitcoin).
The first question is what is the idea behind bitcoin. It may seem vague but it was this idea that prompted the pseudonymous entity Satoshi to create Bitcoin.
 This idea was;
 1. Creating a currency that was not controlled by any entity especially the government.This can be summarized as Decentralization in other words you are in total control of your assets.
 2. Creating a currency that would not require any means of identification.Making it quite impossible to totally track a user still making it possible to notice transactions by that user.This can be summed up as Anonymity.
3.Creating a currency as secure as possible.
With these being said,logically the main idea behind bitcoin is Anonymity,Decentralization  and Security.

Come to think of it ,understanding the reason something was created gives you the best sense of use and therefore an edge over others in the same space which in this case is the crypto space.

And most importantly Don't forget to keep your keys safe 😁

Actually these features were meant to be main features of cryptocurrencies. However, too many middlemen in transaction chains can bring cenralisation to the cryptoworld. Moreover, there are too many legal issues in cryptoassets management. In any country the legal status of cryptocurrencies is still vague.

[Dr.Bitcoin_Strange]

Although anyone can start to learn Bitcoin or cryptocurrency at any stage, but the important thing to learn is the first concept: what led to creating Bitcoin and why it is different from other cryptographic assets. If someone learn those primary knowledges about Bitcoin, they will understand better, but some people only learn from the peak; they learn that Bitcoin can multiply your money without knowing how all that works. So many people have misconceptions about Bitcoin, and the reason is always that they did not learn much about it. I was not surprised when someone said that Bitcoin was created for investment purposes, but Satoshi did not mention that Bitcoin was created for investment purposes. People only took it like that because it has become an appreciated digital currency.

[Smartvirus]

I don't think people are still don't understand what is Bitcoin and the use cases, after all you're keep repeating a common discussion over and over.

At the level of you ‘not having to think’, the statement is indeed valid but then, maybe you, I and the host of other experienced forum users that shares this space don’t care much about this piece of information but, with the number of users that registers in the forum everyday, the info could prove useful to them and it obviously opens the thread up to new replies as not very often are old threads being bumped for update.

We’ve been seeing threads like this and we just might have to be accustomed to seeing some more because, it ain’t stopping soon. You can always expect users to act their level of understanding as to what is perceived to be necessary or not.

32 posts you posted in this forum are consist of 22 threads and 10 replies, there's no one force you to keep creating a new thread.

This part to your comment got me diving into OP’s post history to see what’s been going on and his got some good threads to show for it. Like the one that talks about Airgapping an old desktop device. His merit to post ratio don’t make him exactly a bad poster and you aren’t saying that either but, I’ll understand with you on OP having to reduce the way he or she creates thread and try searching out informations on the forum as well.

[kryptqnick]

As some others have pointed out, understanding the basic points about Bitcoin like the ones the op lists is not necessarily going to help a person become a good Bitcoin investor. Even if you know Bitcoin well, it doesn't mean you've got money to invest, and sometimes you don't know anything but are rich enough to hire a manager whose job will be to research investment options, and that person might lead to you investing in Bitcoin, for example.
That being said, it's still useful to understand the basics about Bitcoin to see whether it's something you might be interested in.

[TimeTeller]

Although anyone can start to learn Bitcoin or cryptocurrency at any stage, but the important thing to learn is the first concept: what led to creating Bitcoin and why it is different from other cryptographic assets. If someone learn those primary knowledges about Bitcoin, they will understand better, but some people only learn from the peak; they learn that Bitcoin can multiply your money without knowing how all that works. So many people have misconceptions about Bitcoin, and the reason is always that they did not learn much about it. I was not surprised when someone said that Bitcoin was created for investment purposes, but Satoshi did not mention that Bitcoin was created for investment purposes. People only took it like that because it has become an appreciated digital currency.

Throughout the years, the price of bitcoin has increased a lot, hence, a lot of people are looking at this currency on the investment level.
But reading the history of why it was created, you would understand that it already served its purpose as one of the payment methods these days.
There's no central authority governing this currency, hence, for me, Satoshi's mission has already accomplished.
What we are enjoying right now, owed to its volatility, is like a bonus, making this currency a very good potential investment.

[Solosanz]

with the number of users that registers in the forum everyday, the info could prove useful to them and it obviously opens the thread up to new replies as not very often are old threads being bumped for update.

We’ve been seeing threads like this and we just might have to be accustomed to seeing some more because, it ain’t stopping soon. You can always expect users to act their level of understanding as to what is perceived to be necessary or not.

Then you're supporting @OP for break the forum rule.

1. Such posts as "SELL SELL SELL", "I agree", "+1", "Support", "Watching", "Interesting", "LOL", "SCAM", "LEGIT", "FAKE", other one word posts, posts consisting mostly of swearing, quote pyramids, useless introduction threads, threads about a topic already recently discussed in several other threads.

The first thing before creating a new thread is using search engine to know if the thread had been created or not, if yes then he shouldn't post it instead of bump the old thread. It ain't stopping, but it's important to not keep spamming.

Like the one that talks about Airgapping an old desktop device.

Yep, only one from 22 unnecessary topics, right?