Bitcoin was created to reform money and provide financial freedom

[Fivestar4everMVP]

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

Not trying to be pessimistic but in all honesty, I don't think there is any project you are buliding right now that will ever succeed bitcoin, as long as it's crypto currency related, except you are bringing an entirely new concept to the table.

I would on my own, tell you that, what bitcoin has achieved so far is not far from what Satoshi himself or their self wanted for it, Satoshi may not have mentioned any of this in the bitcoin white paper, but the honest truth is that, he or they created bitcoin to actually become a store of value, and that bitcoin is today, for there is no way something will be a store of value without being an asset peoople can invest in to make profit.

And a headsup I am going to give you is, whatever project you are building, if it's not like bitcoin, then you hardly will find people who are or will be interested in investing and holding the coin, people wanna put money on things they can profit from, most especially if such product is internet based.

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[AakZaki]

In the end, everyone will be aware of this after researching the benefits that can arise from using Bitcoin and its transactions, because Bitcoin has become better than any currency in the world so that everyone cannot deny that the use of Bitcoin will continue to increase accompanied by at the price too. Now large companies have also seen the benefits of using Bitcoin, so now there are companies that are willing to accept Bitcoin if they want to buy a product that they sell on the market.

But in my country that will never happen, Bitcoin is only used as an investment, not for full adoption. Bitcoin may have a price that is increasing at the moment but it will only be a speculative asset and not in accordance with the main purpose of Bitcoin being created. The more new investors who enter, of course the volume of Bitcoin will be greater, they want multiple profits, so Bitcoin is only a tool for trading and investing.

[Synchronice]

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?

Bitcoin wasn't created as a response to the 2008's financial crisis. It was created to offer you purely p2p version of electronic cash that would also offer you non-reversible transaction and would save you mediation costs. Bitcoin simply wasn't meant and designed for massive usage because otherwise there wouldn't be 1MB block size in the first case. Also, high blocksize requires high space and makes it expensive to run bitcoin nodes. The difficulty and expansivity of running a bitcoin node would lead to a centralization instead of decentralization.

Bitcoin was created solely for making ecommerce better than it was, that's all. Many people stick different labels to it but during that moment, it was the aim. It wasn't created to bury USD and save the world from riches.

[EarnOnVictor]

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.

I don't think you are correct in saying that Bitcoin was created in response to the financial crisis of 2008. As a matter of fact, if terms should be defined well, it is an economic crisis, and it lasted between 2007 and 2009. But this is not in any way the reason why Bitcoin was created and I like you to know that Bitcoin is not powerful enough to solve the economic problems of the world or any nation, it can only be an edge against inflation,, just like any other assets, nothing more.

However, in my opinion, the main motive of Satoshi in creating Bitcoin was to create a decentralised system that would not be overseen by the government or any central authority, while the rest (investments, trading, staking etc) are just an added advantage. Needless to say, Bitcoin was an experiment that later became true, adopted and appreciated by the whole world, and great kudos to him/her/them (Satoshi Nakamoto).

Mind you, I would advise you to leave any fiat currency alone, they are doing just fine and Bitcoin can never exist in isolation, it needs them even as they do not need it. We should only be appreciative that the global government allows Bitcoin to hold and not see it as a total enemy to clamp down on. If they do, I am sure that it might not see the light of the day the way we see it now.

[GeorgeJohn]

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.

Bitcoin has a decentralized use case.  More money means more freedom.  Satoshi's vision requires more adoption.  Higher price means more attention.  Attention drives adoption.

Why people is interested more in bitcoin is because is a decentralized kind of something and when looking at bitcoin transaction and investment you will see that is not stressful as other kind of investment, and without bitcoin been decentralized it would have be manipulated, so therefore you have to understand that bitcoin is more understanding than any other investment that have to do with serious monitor

[Dzwaafu11]

Though I might be wrong on this but I think the main or the core reason of creating bitcoin was to use it to trade p2p which is to buy goods and services online but that part or function of bitcoin creation is not working perfectly yet and I don't know if it will work in the nearest future. Because everyone one is going into the investment aspect of it and not the goods and services function. As for me the most interesting part of bitcoin is the part you can use it to buy something like Laszlo Hanyecz who used bitcoin to buy Pizza.

The main reason for creating bitcoin cannot work at the moment, so it's not surprising that it is still yet to start functioning, and one of the reasons why we still don't get lucky to be using bitcoin in the way it was created is because the way currency is, nobody regulates it; it controls itself, including the market, and it's a decentralised currency. Since we can't use it without government approval, you can see that there is no way we can use bitcoin as a means of making payments in our respective countries, and you know the government won’t allow something they won’t take their part or control in the country.

However, another thing is that all these big investors and businessmen and women are not ready for bitcoin. Although some of them  knows that it has many freedoms that will make their business easier without them stressing themselves, the only thing here is that these people are not ready to learn, and some of them are still scared of bitcoin since the government has made it prohibited for them. If they start using it in their stores, they may later lose the funds. That is what some are thinking.

While some did not want to learn, sit down and learn the whole process of bitcoin transactions as it will take their time before they understand the process, so they feel it is better to continue using their fiat currency that is regulated by the government. There is still the problem of how people view bitcoin in your area because some people who are unaware of it still think bitcoiners are fraudsters. They use it for fraud, which is why they can’t accept it, although to me the only obstacle that bitcoin is still having is the government.

I like to do that but no store in my area is accepting bitcoin in fact they don't even know the name. And those who use exchange to buy bitcoin because it is the fastest way to acquire bitcoin.

Yeah. Bitcoin cannot be accepted because of the government. In my opinion, those who buy good and sell will find it difficult to do that because they go and buy from another store to sell, so what if they accept and where they are buying something does not accept? If you can see that, it will be a very big challenge for them.

 However, let me just say that bitcoin is for the new generation as everybody is adopting the cryptocurrency, and of course, I think these investments are pushing people to learn about bitcoin, so to me, it’s perfect when we have millions of investors, even if the government later accepts it as another means of making payments in a country. They already have people who know about it, so they will teach others who don’t know anything about it.

People who buy bitcoin in exchange know that many people are doing p2p, so they buy it and move it to their wallets, where they can store their bitcoin. As you know, exchange is not safe for storing bitcoin.

[barto123]

It was intended to be that way.

Most Bitcoiners won't admit it (I was one of them). It has been infiltrated to a certain degree - however I don't believe it can be controlled at all like fiat. The best they can do is surveillance - build an umbrella over the top and enforce their draconian measures.

I still hold BTC, I think it will appreciate in value and be sound money for years to come. I think it's a great alternative to gold.

However there's clearly going to be a period of insane top down government control. People are waking up to the reality of the system, however it's not being brought down or slowed by any means.

For me, I will use Monero as cash dries up - it's easy and it works. The best evidence is the Binance delisting, The super rich controlling the world fear Monero much more than Bitcoin. It's the #1 adopted cryptocurrency on dark net markets.

Digital ID's may be required to get online soon, and that will be hard to spend bitcoin/monero. People are resilient though, we'll find a way to route around them.

Sure if we see a mad max situation and the power, internet goes down, digital coins are useless, you're going to want some gold, silver, food, supplies.

[Iranus]

The purpose of bitcoin is to be a peer-to-peer currency but I don't see anyone mentioning that anymore and instead we just see bitcoin as a commodity.

The development of the industry has made Crypto veer away from Satoshi's original goal. In addition, Satoshi's original goal is very contrary to the government's financial system. The orientation has also changed, the government cannot abolish it so now the world government provides space and takes advantage. They give Crypto space as a Commodity. They make regulations to take advantage through taxes. In addition, world institutions such as ETFs have also made Crypto a trading commodity. So right now the orientation is a profitable business.

That's what I mean, we need to adapt to the current situation and accept the fact that bitcoin is a commodity. So I will not agree when someone says that bitcoin is better than any other currency or that it will be used as currency in the future. That is gone and we will never be able to do that.

It's not that ETFs or governments have commodified bitcoin, it's that we have commodified bitcoin. ETFs have only recently been approved and governments have only recently become interested in bitcoin, but bitcoin has been trading on exchanges since 2010 and 2012 and its volatility has persisted for many years ago.
Bitcoin is an asset, a commodity.

[Cryptmuster]

But in my country that will never happen, Bitcoin is only used as an investment, not for full adoption. Bitcoin may have a price that is increasing at the moment but it will only be a speculative asset and not in accordance with the main purpose of Bitcoin being created. The more new investors who enter, of course the volume of Bitcoin will be greater, they want multiple profits, so Bitcoin is only a tool for trading and investing.

Even before the approval of the spot Bitcoin ETF, Bitcoin was already perceived by most investors as an investment asset, and with the arrival of players like Blackrock, this became an irrevocable point, now I am almost sure that Bitcoin has no chance of becoming a means of payment, now it will definitely become the digital gold, that they want control the most powerful foundations and corporations in the world. Whether this is good or bad, I don’t know, if you have Bitcoin, you will definitely make a good profit.

[peter0425]

But in my country that will never happen, Bitcoin is only used as an investment, not for full adoption. Bitcoin may have a price that is increasing at the moment but it will only be a speculative asset and not in accordance with the main purpose of Bitcoin being created. The more new investors who enter, of course the volume of Bitcoin will be greater, they want multiple profits, so Bitcoin is only a tool for trading and investing.

Even before the approval of the spot Bitcoin ETF, Bitcoin was already perceived by most investors as an investment asset, and with the arrival of players like Blackrock, this became an irrevocable point, now I am almost sure that Bitcoin has no chance of becoming a means of payment, now it will definitely become the digital gold, that they want control the most powerful foundations and corporations in the world. Whether this is good or bad, I don’t know, if you have Bitcoin, you will definitely make a good profit.

that is sad but reality and this change the purpose and the position of bitcoin to which Satoshi aim to create and that is to be a currency that will be used worldwide and not to be an asset to be stocked in each wallets.
and this will never be adopted if that will be the use of bitcoin for the next coming years.

[Forever101]

You have made a vital point however, one can embrace other project coming up that are beneficial to the system. That will help the coin to get awareness and it's use cases will continue to be broaden. It will be better to see to lessen the workload on the system by see how the system will work faster.

[KingsDen]

It is no longer new to us that bitcoin has digressed to a certain extent the reason it was created but then it is not completely out of place. The investment asset it is discovered to be as against the proposed currency status has also helped to send people out of poverty.

My major concern is any threat against bitcoin and such threats should be a threat against the decentralized nature of bitcoin, 50% attack and not just the exchanges using bitcoin in a centralized way.

[Luzin]

It is no longer new to us that bitcoin has digressed to a certain extent the reason it was created but then it is not completely out of place. The investment asset it is discovered to be as against the proposed currency status has also helped to send people out of poverty.

If you had a volatile currency would you be happy. I don't think so, because it would be a big risk. Imagine if your money becomes worthless because its value keeps going down. Perhaps the best thing to do now is to make Bitcoin an investment instrument. Because I imagine it will be complicated when it becomes money and its value is still fluctuating. There will be no control over its fixed value and this could hurt us, although it could also be profitable.

[DubemIfedigbo001]

To buy Bitcoin most people use exchanges which you must KYC on.

Yes of course and I will tell you why, the world is advancing in both technology and crime and transacting some things between individuals alone can see an individual robbed and deprived of his coins and his money, so it is better and more secured for most people to sell and buy on reputable exchanges which offer them security against assets loss and victimization. upon acquisition, you are advised to move the coins to a decentralized wallet because not your keys equals not your coin

There are also many other ways of  acquiring bitcoin without patronizing exchanges like bitcoin paid jobs online, offering goods and services with renumeration in bitcoin, offline peer to peer ( sometimes, I buy my coins from friends who are in need of funds, and are sent directly to my opensource wallets).

To store Bitcoin most people use wallets that require the use of 3rd party nodes for transactions. This includes Hardware wallets.

Open-source wallets still hands back the power to you as there is no restriction on the pattern of funds acquisition and management. it is strongly advised to use decentralized wallets for your freedom and possible privacy.

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.

That is one of its underlying features, Investment opportunity and people are benefitting massively from it, so it's a good one.

Though I might be wrong on this but I think the main or the core reason of creating bitcoin was to use it to trade p2p which is to buy goods and services online but that part or function of bitcoin creation is not working perfectly yet and I don't know if it will work in the nearest future.

I really think you're wrong, the core features of bitcoin creation is decentralization of money system, privacy, anonymity and freedom from government interference and regulatory activities on public funds. P2P is a feature that supports the freedom from as you can transact with someone directly without the involvement of a third party. The part of purchasing goods and services online still works, I still get paid for services rendered in bitcoin at will, I think the fact that it is not rampant is due to the fact that most people have not adopted it as a means of payment, the more its adoption, the more that feature works more effectively.

I like to do that but no store in my area is accepting bitcoin in fact they don't even know the name. And those who use exchange to buy bitcoin because it is the fastest way to acquire bitcoin.

The store in your area is still possibly in an underdeveloped environment which has major dependence on fiat, another thing to consider is the quantity and cost of goods you are purchasing, also how much digitally exposed is that store owner. I believe that bitcoin would not replace fiat totally, but it can take care of larger, more meaningful transactions rather than peanut transactions that little units of fiat can handle.

[0t3p0t]

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.

Yeah though Bitcoin was really intended to be used as p2p payment system but the limited supply it has is what turns it into more of an investment as price skyrocketed from a value of a penny into $66k+ as what we have today. The only problem with Bitcoin as a payment system is that fee is quiet high compared to the traditional payment system which is fiat but still it is for me the best if we treat it as an asset. It will still benefit the Bitcoin community in the long run.

[KingsDen]

It is no longer new to us that bitcoin has digressed to a certain extent the reason it was created but then it is not completely out of place. The investment asset it is discovered to be as against the proposed currency status has also helped to send people out of poverty.

If you had a volatile currency would you be happy. I don't think so, because it would be a big risk. Imagine if your money becomes worthless because its value keeps going down. Perhaps the best thing to do now is to make Bitcoin an investment instrument. Because I imagine it will be complicated when it becomes money and its value is still fluctuating. There will be no control over its fixed value and this could hurt us, although it could also be profitable.

I obviously will not like a volatile currency because it will seriously negate buying and selling. But in the end, all fiat currencies are volatile. Although, their volatility doesn't happen very fast, rather over the time. Even if the currency denomination is the same, its purchasing power will reduce as the time goes.
Maybe there's a stage adoption will get to, bitcoin volatility will reduce drastically. But I doubt this will happen since bitcoin has a limited supply.

[BlackHatCoiner]

The only problem with Bitcoin as a payment system is that fee is quiet high compared to the traditional payment system which is fiat

I wouldn't say that the transaction fee is the big problem per se. People generally don't want to rely on a property that is so volatile. They would rather use a currency that is devaluating (but in a slow and constant rate), than bet their operations in a currency that has no representatives to guarantee stability. Only if the fiat currencies completely collapse, similarly as to Zimbabwean dollars, then they'll switch to cryptocurrencies.

[Y3shot]

Though I might be wrong on this but I think the main or the core reason of creating bitcoin was to use it to trade p2p which is to buy goods and services online but that part or function of bitcoin creation is not working perfectly yet and I don't know if it will work in the nearest future. Because everyone one is going into the investment aspect of it and not the goods and services function. As for me the most interesting part of bitcoin is the part you can use it to buy something like Laszlo Hanyecz who used bitcoin to buy Pizza.

I like to do that but no store in my area is accepting bitcoin in fact they don't even know the name. And those who use exchange to buy bitcoin because it is the fastest way to acquire bitcoin.

The reason why bitcoin was created is not just for p2p or for buying goods and services. Bitcoin was created for freedom,  for people to handle their money without going through stress like how we stress ourselves to get our money back from the bank.  Bitcoin was also created to gain better financial height because the traditional currency have no value. Bitcoin is here to add value to the money that we have .

[Fatunad]

Though I might be wrong on this but I think the main or the core reason of creating bitcoin was to use it to trade p2p which is to buy goods and services online but that part or function of bitcoin creation is not working perfectly yet and I don't know if it will work in the nearest future. Because everyone one is going into the investment aspect of it and not the goods and services function. As for me the most interesting part of bitcoin is the part you can use it to buy something like Laszlo Hanyecz who used bitcoin to buy Pizza.

I like to do that but no store in my area is accepting bitcoin in fact they don't even know the name. And those who use exchange to buy bitcoin because it is the fastest way to acquire bitcoin.

The reason why bitcoin was created is not just for p2p or for buying goods and services. Bitcoin was created for freedom,  for people to handle their money without going through stress like how we stress ourselves to get our money back from the bank.  Bitcoin was also created to gain better financial height because the traditional currency have no value. Bitcoin is here to add value to the money that we have .

It wasnt that created for financial freedom because it was never been that an investment in the first place. Bitcoins existence is written solidly into its whitepaper which do pertains about p2p transactions
without 3rd party involved on which this had been that the main reason about its existence. It did really just turn out that it becomes a demand and recognition is really that high which it
ends up on having that rising value and to those who had been able to accumulate into those early years are the ones who did make out such huge money and this is something
that it is really worth for the trust that they do have in Bitcoin into those early days on which that brings out that financial freedom into those people who had accumulated.

[Mate2237]

Though I might be wrong on this but I think the main or the core reason of creating bitcoin was to use it to trade p2p which is to buy goods and services online but that part or function of bitcoin creation is not working perfectly yet and I don't know if it will work in the nearest future. Because everyone one is going into the investment aspect of it and not the goods and services function. As for me the most interesting part of bitcoin is the part you can use it to buy something like Laszlo Hanyecz who used bitcoin to buy Pizza.

I like to do that but no store in my area is accepting bitcoin in fact they don't even know the name. And those who use exchange to buy bitcoin because it is the fastest way to acquire bitcoin.

The reason why bitcoin was created is not just for p2p or for buying goods and services. Bitcoin was created for freedom,  for people to handle their money without going through stress like how we stress ourselves to get our money back from the bank.  Bitcoin was also created to gain better financial height because the traditional currency have no value. Bitcoin is here to add value to the money that we have .

It wasnt that created for financial freedom because it was never been that an investment in the first place. Bitcoins existence is written solidly into its whitepaper which do pertains about p2p transactions
without 3rd party involved on which this had been that the main reason about its existence. It did really just turn out that it becomes a demand and recognition is really that high which it
ends up on having that rising value and to those who had been able to accumulate into those early years are the ones who did make out such huge money and this is something
that it is really worth for the trust that they do have in Bitcoin into those early days on which that brings out that financial freedom into those people who had accumulated.

I don't know if Y3shot has read the whitepaper of bitcoin and if he has not read it, he should do well to go and read it and understand the reason why bitcoin was created to support the fiat currency in the world. By the way let me brief him again and again because I have said it before. Bitcoin was created with the core mandate for p2p transaction of buying and selling of goods and services. And that was why the man who used it to buy 2 pizza with 10 BTC was on the test stage and it was successful. And I don't know where the financial freedom he mentioned came from. It is through the decentralized exchange process that lead to the financial freedom because nobody can control your funds if you use non custodial wallets but if your use custodial wallets then your freedom is limited. And if you use cex then your freedom has also limited.

So the best two options to use bitcoin is p2p of using it to buy and sell things online and also for the investment that has taken over the p2p of buying and selling of goods and services online.