Bitcoin was created to reform money and provide financial freedom

[dunfida]

If I’m not mistaken, bitcoin was created not to replace fiat but to act as a reserved currency and serve as another option for people who prefer to use bitcoin more than fiat. Bitcoin brings freedom not actually to spare us from using banks but to open new opportunity for digital currency payment system. And I think for now, we can see a lot of people doing transactions with bitcoin but for those countries who are not yet legalizing bitcoin, they see bitcoin as an investment tool that can provide excellent profits.

Yes it wasn't created for that, it was supposed to be a system of online payment where the actors are the buyer and the seller, there's no middlemen like the bank, that's what's in the abstract of the whitepaper that @Maus0728 shared, at least that's what I understand from that abstrac but it didn't say that it's supposed to be doing any kind of giving us freedom but from what it did over the years, I guess you could say that it's what bitcoin gives the people, the freedom from the banks.

To me though another thing that bitcoin has given me besides the freedom is the fact that I've had my eyes opened on things that I'm otherwise blinded if bitcoin didn't lead me to believe in them.

If you are really that someone who do able to read up that Bitcoin whitepaper on the time that you did step your foot into this space then you wont really be able to say up such things on which it is really just that something that cant be just right on having that kind of approach on which telling that Bitcoins existence or purpose was really that for the purpose of providing financial freedom. Well, it could potentially be able to make someones life to be changed up in terms of investment side of things but we know that not all would really be that lucky enough on making themselves that financially freed. It would be also still mattering on how well you do make out
such decisions because not all crypto investors do really ends up on successful.

Once you do able to check out the WP then you would really be able to understand on what it is all about. Its not something that do talk about financial freedom
but rather this is something that do talks about anonymous p2p transaction or simply just that talks about decentralization.

[Dunamisx]

We are also expected to adopt bitcoin and use it for our own financial benefit, this gives us the financial desires we want to have or see come through with the use of a digital network being made accessible to everyone for their privacy, its so what a pity as well seeing others not getting it right with the use of bitcoin, thinking otherwise on why it was created, those using it already knows what they stand to benefit from it which they are already seeing.

[Blitzboy]

Bitcoin emerged as a hope after 2008's financial crisis. My optimism is tempered by realities as I contemplate its voyage. Bitcoin threatened established finance. The current landscape deviates greatly from its original intent.

Also, I mourn the irony. Bitcoin is now part of the structures it wanted to overthrow. Our goal was to escape centralization, yet exchanges, third-party wallets, and speculative investment have increased. However, this challenge drives me.

Though I love Bitcoin, critical thinking is essential. Can Bitcoin reform money when it's a currency and an asset? Perception, not potential, matters. Bitcoin's decentralized currency potential stays unrealized as long as the public regard it as an investment.

[nakamura12]

I think that one of the reason why bitcoin is created is to prevent a third party take or have a control over it like banks and other similar third parties. When bitcoin become known worldwide, even banks now are even finding a way to take part into it like making a wallet that requires you to submit personal documents before you can use the wallet. To tell you honestly, it already happened in my country. There are several companies have made a wallet and being regulated by the central banks. One of it is privacy and yet even some casinos now ask KYC.

[legiteum]

The goal of Bitcoin--and now, generally, the blockchain architecture--is to evade government oversight into transactions.

That's it. That's all was made to do. If you wanted to do anything else, blockchain would be a massive waste of time and resources since a good centralized architecture is a thousand times easier, safer, cheaper, and faster.

(This is why "centralized blockchain" is so pointless).

(This is also why using blockchain for a CBDC is really dumb).

[BlackHatCoiner]

Most people use Bitcoin like an investment not an electronic cash system.

I frequently see this being brought as a con, but it seems more of a pro to me. When people just want to make financial transactions, they choose fiat over bitcoin, not because it is inherently better. It's just because they prefer spending their de-valuated fiat rather than their scarce bitcoin. Being "better money" doesn't equate to being better at completing transactions.

And I'd argue that when people want to complete a transaction in private, via the Internet, cryptocurrencies are took into serious consideration now more.

By restricting us, every body else kind of enforces the Know Your Customer way into every body.  Realistically speaking.  How difficult is it today to buy and sell Bitcoin with no Know Your Customer compared to five years ago?  The people who were abiding before and who did not care is not affected in any way today.  On the other end of the stick, we are affected enormously.

Here's a thing though. Five years ago, decentralized exchanges were undeveloped. Currently, Bisq takes the first place with over a thousand of trades per week.

What matters isn't the enforced Know Your Customer on many more CEX than before per se. What matters is the legislating framework of your country that forbids you from trading decentrally. If you're forbidden to trading decentrally, and have to pass through this KYC nonsense, then that's a problem.

The goal of Bitcoin--and now, generally, the blockchain architecture--is to evade government oversight into transactions.

It has been told to you quite a lot of times already that this is only partly true.

[we-btc]

Also, I mourn the irony. Bitcoin is now part of the structures it wanted to overthrow. Our goal was to escape centralization, yet exchanges, third-party wallets, and speculative investment have increased. However, this challenge drives me.

Though I love Bitcoin, critical thinking is essential. Can Bitcoin reform money when it's a currency and an asset? Perception, not potential, matters. Bitcoin's decentralized currency potential stays unrealized as long as the public regard it as an investment.

Great points.  Banks have adopted it for the express purpose of controlling it within the current financial paradigm. If Bitcoin is not used as a currency then its value is simply to provide a tool to banks and centralized financial institutions to siphon off some of each persons value.

[legiteum]

The goal of Bitcoin--and now, generally, the blockchain architecture--is to evade government oversight into transactions.

It has been told to you quite a lot of times already that this is only partly true.

Not according to the original Bitcoin whitepaper.

It is now used mainly as an investment instrument, using mostly centralized brokerages, which are contrary to its original goal, but the original intent of Bitcoin was to create a system out of the reach of any government.

For probably 99% of Bitcoin users this goal has failed since they use a brokerage and/or they don't use a mixer to hide their transactions--making them easily tracked by central governments.

Hence where we are today doesn't resemble where Bitcoin started. But that doesn't change how it started.

[acener]

Bitcoin was created as a response to the financial crises of 2008.  The idea was to create a decentralized electronic cash system that had a limited supply.  The current fiat currencies used worldwide are both centrally controlled and have no limit on how much the issuer can create.  The US dollar, as an example, has lost 98% of it's purchasing power since 1913 when the Federal Reserve was granted the power to print US dollars.

The Bitcoin solution was to create a currency that had a limited supply and transactions that were peer-to-peer so that no financial institutions would have financial power over the individual.

Fast forward 16 years and almost all Bitcoin transactions are run through third parties.  To buy Bitcoin most people use exchanges which you must KYC on. To store Bitcoin most people use wallets that require the use of 3rd party nodes for transactions. This includes Hardware wallets.  Most people use Bitcoin like an investment not an electronic cash system. Banks are buying up large quantities of Bitcoin to hold for customers buying their ETFs. Arguably developers are adding things like ordinals to the code which have slowed transactions and increased fees above what would be reasonable for small financial transactions.

I see the potential for Bitcoin and am working on projects to help with the original mission - financial freedom for individuals world wide.

I am not going to give up on the dream!  Are you?

It was supposed to be like that but most of us now see Bitcoin as an investment tool not as a currency.
It was created to be used as a currency and be decentralized but now it is mostly viewed as an investment tool and only few use it for what it has been designed for.

[Sanitough]

I think that one of the reason why bitcoin is created is to prevent a third party take or have a control over it like banks and other similar third parties. When bitcoin become known worldwide, even banks now are even finding a way to take part into it like making a wallet that requires you to submit personal documents before you can use the wallet. To tell you honestly, it already happened in my country. There are several companies have made a wallet and being regulated by the central banks. One of it is privacy and yet even some casinos now ask KYC.

Bitcoin is created so we can finally gain freedom from banks and other financial entities. That way, we can take full control of our funds without having interrupted by the government and monitor our finances through banks. This is probably the reason why it’s hard for the government to legalized and accept bitcoin as a currency since they have been thinking that bitcoin will personally overtake fiat and will go against fiat currency system, but in reality only unknowledgeable about bitcoin think that way.

[Assface16678]

Bitcoin was created as a response to the financial crises of 2008.  The idea was to create a decentralized electronic cash system that had a limited supply.  The current fiat currencies used worldwide are both centrally controlled and have no limit on how much the issuer can create.  The US dollar, as an example, has lost 98% of it's purchasing power since 1913 when the Federal Reserve was granted the power to print US dollars.

The Bitcoin solution was to create a currency that had a limited supply and transactions that were peer-to-peer so that no financial institutions would have financial power over the individual.

Fast forward 16 years and almost all Bitcoin transactions are run through third parties.  To buy Bitcoin most people use exchanges which you must KYC on. To store Bitcoin most people use wallets that require the use of 3rd party nodes for transactions. This includes Hardware wallets.  Most people use Bitcoin like an investment not an electronic cash system. Banks are buying up large quantities of Bitcoin to hold for customers buying their ETFs. Arguably developers are adding things like ordinals to the code which have slowed transactions and increased fees above what would be reasonable for small financial transactions.

I see the potential for Bitcoin and am working on projects to help with the original mission - financial freedom for individuals world wide.

I am not going to give up on the dream!  Are you?

It was supposed to be like that but most of us now see Bitcoin as an investment tool not as a currency.
It was created to be used as a currency and be decentralized but now it is mostly viewed as an investment tool and only few use it for what it has been designed for.

That's what financial freedom for, maybe yes bitcoin is created so it can be replacable for fiat currency but the thing is over alot of years bitcoin become the tool so that many people and its investors will become financial freedom, and because the community of bitcoin made by investors, made bitcoin still as powerful as now, because if they think bitcoin as tool for profit only then bitcoin should not be able to survive or not having high value right now, meaning those OG investors and newly investors taking care of bitcoin so that it will not lose its value, they make things balanced, so I disgree that people only think bitcoin as investment because for those who are already investors cared for bitcoins starus in the market that's why we are having high rewards, notice those only aim for profit in bitcoin, they are the short holders who just aim to lash out profit from bitcoin.

[iBaba]

We are also expected to adopt bitcoin and use it for our own financial benefit, this gives us the financial desires we want to have or see come through with the use of a digital network being made accessible to everyone for their privacy, its so what a pity as well seeing others not getting it right with the use of bitcoin, thinking otherwise on why it was created, those using it already knows what they stand to benefit from it which they are already seeing.

I personally believe that starting Bitcoin has been one of the greatest milestones in my financial journey. Bitcoin has granted me the financial freedom, profit, and privacy that I yearn for as a human being.

Another remarkable aspect of Bitcoin is the confidence it instills in me. Unlike the uncertainties I faced in the fiat market, Bitcoin offers a sense of comfort. Its decentralized nature ensures that neither certain people nor governments can manipulate its value arbitrarily, providing a sense of security.

However, for those of us engaged with the Bitcoin community, there are currently rewarding opportunities, such as the ongoing bull run. Failing to capitalize on this favorable market trend may result in missed financial gains. As Bitcoin's value continues to soar, investing a substantial amount now could yield significant returns.

Nevertheless, I advise my friends to adopt a Dollar-Cost Averaging (DCA) approach rather than investing a lump sum. This strategy helps mitigate the risks associated with unforeseen market fluctuations, ensuring a more stable investment journey.

[Mrbluntzy]

Fast forward 16 years and almost all Bitcoin transactions are run through third parties.  To buy Bitcoin most people use exchanges which you must KYC on. To store Bitcoin most people use wallets that require the use of 3rd party nodes for transactions.

Bitcoin transactions may be running through third parties exchange or wallets but most of those centralized exchange have also made it easy for fast accumulation of Bitcoin in some part of the world like in my country. It have helped some people to even buy Bitcoin more faster. I don't know how to express everything I wanted to say but in a short word my country people are using centralized exchange to buy their Bitcoin and they are more familiar with its use. Most of those exchange have aid a wide adoption of Bitcoin. How many non third party exchange do you recommend for use and how popular are they?

[The Cryptovator]

Bitcoin wasn't created to solve the financial crisis; rather, it was born to resolve the traditional financial system through centralised control. Bless Bitcoin that we can become our own bank when it's been held in a non-custodial wallet. So I agree with financial freedom. Bitcoin gives us full control of our money. We can move or spend it worldwide without any third-party involvement. 

[BlackHatCoiner]

It is now used mainly as an investment instrument, using mostly centralized brokerages, which are contrary to its original goal, but the original intent of Bitcoin was to create a system out of the reach of any government.

I must have misinterpreted "oversight" then. I thought you said that the goal of Bitcoin was to create untraceable (from the government) transactions, to evade taxes mostly.

Sure. The original intent was to detach money from the state. In fact, given that Satoshi was a bit of an anarchist, and there were a lot of crypto-anarchists around that niche at that time, I believe he was profoundly with that philosophy in mind.

For probably 99% of Bitcoin users this goal has failed since they use a brokerage and/or they don't use a mixer to hide their transactions--making them easily tracked by central governments.

But, has it really failed if these people choose to forfeit custody? I mean, if you personally don't care about self-custody, does that alter Bitcoin's goal or my interaction with Bitcoin? Bitcoin is all about freedom of choice in the end. It allows you to mistreat it.

[bitzizzix]

In my opinion, Bitcoin was created to take control of power away from banks and other financial entities, and aims to return it to people who can use it with the freedom they can control themselves.
And to have a decentralized currency that is accepted throughout the world without third party interference, quickly, safely and conveniently and transparently. And everything turned out so perfect. The payment process, sending and receiving payments will be very easy and no other party can prevent it, and it can also change someone's life to be better than before in financial terms if done wisely.

[Rabata]

I think P2P use-case is interrupted is because of the government's hostile attitude towards Bitcoin. Although some governments are taking a positive view towards it. However, this barrier must be overcome in extreme circumstances. Since governments have tried hard to reduce people's interest in Bitcoin, they will never be able to suppress the potential of Bitcoin by law. In fact, this is the reason why P2P is still not widely used in all place of the world. However, Bitcoin has already made a significant place in the world as a tool of trading. But now, even though there are various disagreements about it in some places, gradually everyone will come under Bitcoin. Bitcoin payment method is already being used in many purposes and its use is increasing tremendously.

[we-btc]

Fast forward 16 years and almost all Bitcoin transactions are run through third parties.  To buy Bitcoin most people use exchanges which you must KYC on. To store Bitcoin most people use wallets that require the use of 3rd party nodes for transactions.

Bitcoin transactions may be running through third parties exchange or wallets but most of those centralized exchange have also made it easy for fast accumulation of Bitcoin in some part of the world like in my country. It have helped some people to even buy Bitcoin more faster. I don't know how to express everything I wanted to say but in a short word my country people are using centralized exchange to buy their Bitcoin and they are more familiar with its use. Most of those exchange have aid a wide adoption of Bitcoin. How many non third party exchange do you recommend for use and how popular are they?

The issue I am trying to shine a light on is that transactions with a 3rd party intermediary defeat the purpose of Bitcoin being a peer-to-peer network.  If centralized exchanges provide easier access to Bitcoin that is great but if you want Bitcoin to provide the decentralized freedom it was designed to facilitate then you have to use your own node.  Will people transition away from these centralized 3 party transactions after their initial purchases? Only if they understand why this is important.  It is important to understand that it is not in the best interest of the 3rd party to promote peer-to-peer transactions.  

All 3rd parties, whether it is a wallet, exchange or bank will attempt to keep their customers using their service. This propaganda is what is driving adoption of these trust based bitcoin transactions.  

[blckhawk]

~

If you are really that someone who do able to read up that Bitcoin whitepaper on the time that you did step your foot into this space then you wont really be able to say up such things on which it is really just that something that cant be just right on having that kind of approach on which telling that Bitcoins existence or purpose was really that for the purpose of providing financial freedom. Well, it could potentially be able to make someones life to be changed up in terms of investment side of things but we know that not all would really be that lucky enough on making themselves that financially freed. It would be also still mattering on how well you do make out
such decisions because not all crypto investors do really ends up on successful.

Once you do able to check out the WP then you would really be able to understand on what it is all about. Its not something that do talk about financial freedom
but rather this is something that do talks about anonymous p2p transaction or simply just that talks about decentralization.

That's why I said that it wasn't created for that, if you actually read my post, I've talked about the financial freedom part in a sense that it's the people are the ones that have thought it's what bitcoin gives them and not the other way around. You're asking what way could it give financial freedom, are you new to bitcoin or something like that? Because I think the fact that there's no middleman between transactions is a freedom in of itself so what are you talking about? That it's not written in the whitepaper? Sure it's not but that's besides the point don't you think? Anonymity is the same as being free right?

[Bananington]

~

If you are really that someone who do able to read up that Bitcoin whitepaper on the time that you did step your foot into this space then you wont really be able to say up such things on which it is really just that something that cant be just right on having that kind of approach on which telling that Bitcoins existence or purpose was really that for the purpose of providing financial freedom. Well, it could potentially be able to make someones life to be changed up in terms of investment side of things but we know that not all would really be that lucky enough on making themselves that financially freed. It would be also still mattering on how well you do make out
such decisions because not all crypto investors do really ends up on successful.

Once you do able to check out the WP then you would really be able to understand on what it is all about. Its not something that do talk about financial freedom
but rather this is something that do talks about anonymous p2p transaction or simply just that talks about decentralization.

That's why I said that it wasn't created for that, if you actually read my post, I've talked about the financial freedom part in a sense that it's the people are the ones that have thought it's what bitcoin gives them and not the other way around. You're asking what way could it give financial freedom, are you new to bitcoin or something like that? Because I think the fact that there's no middleman between transactions is a freedom in of itself so what are you talking about? That it's not written in the whitepaper? Sure it's not but that's besides the point don't you think? Anonymity is the same as being free right?

I would dare say that most government in many countries these days have opted to somehow control crypto currency like BTC, since it wasn't created by them or have any reserve banks or gold reserve backing it up.
They have done this by regulating and taxing anyone or exchanges who use a currency like Bitcoin because of the financial freedom it has indeed granted the citizens.

Still, it doesn't change the idea that Bitcoin was created to provide much more than privacy and freedom to complete financial transactions across borders with as little fees as compared to what regular banks would offer. It has also proven to be a good store of value overtime and currently it is every potential investors dream of acquiring.