How Bitcoin became symbol of Revolution?

[defau1tuser0]

I am new to Bitcoin and currently studying about it from both Technical and Non-Technical stand point.

I'm curious about how Bitcoin which was proposed as "A Peer-to-Peer Electronic Cash System" with NO TRUSTED third party became tool for monetary sovereignty, censorship resistance, etc. Of course it became one because it has those inherent qualities.

But I wanna know the transition of it. From "electronic cash made to solve problem of double spending in decentralized payment system" so basically mostly from utility of payment to Today and also what is the future we are trying to create? Especially since Sir Satoshi is no longer in the picture. Did he had any thoughts on this?

Do we have an end point in mind?

I hope I made my questions clear and looking forward to answers and also future of Bitcoin.

[retaur]

It's because it does those things well.

If you don't need to trust a third party and can store something without needing to - you're going to attract people who prioritise that.

I think it started off as hobby tokens or similar that developed once it gained more trust. The early iterations of products with Bitcoin were faucets that gave quite a lot of mining rewards away as the person running them didn't need much computing power compared to now.

This is going to be one of those history topics you'll never quite finish covering too imo. There's a lot to discover from faucets in the early days to the transition from CPU mining -> GPU mining -> ASIC mining. The ASIC mining industry and crypto exchange industries have both made billions since their inception.

There have been many different controversies too. From illicit content being stored in the Blockchain, to anti china rhetoric, anti climate change, and PoS/PoW variants and how each of them work. Not to mention all the BIPs (Bitcoin improvement programs) that have come along and smart contracts/the lightning network/taproot.

[SeriouslyGiveaway]

I'm curious about how Bitcoin which was proposed as "A Peer-to-Peer Electronic Cash System" with NO TRUSTED third party became tool for monetary sovereignty, censorship resistance, etc. Of course it became one because it has those inherent qualities.

But I wanna know the transition of it. From "electronic cash made to solve problem of double spending in decentralized payment system" so basically mostly from utility of payment to Today and also what is the future we are trying to create? Especially since Sir Satoshi is no longer in the picture. Did he had any thoughts on this?

Satoshi created Bitcoin based on some previous technical developments in cryptography and some other projects. He programmed an excellent Bitcoin protocol but more important, he left space for Bitcoin project to grow up in decentralized ways without his appearance and contributions.

Read the Bitcoin white paper first, and read these two sources below for understanding more
The bullish case for Bitcoin.
Bitcoin: An accounting revolution.

[Livingleged]

I'm curious about how Bitcoin which was proposed as "A Peer-to-Peer Electronic Cash System" with NO TRUSTED third party became tool for monetary sovereignty, censorship resistance, etc. Of course it became one because it has those inherent qualities.

May be you should see the link below https://en.wikipedia.org/wiki/Peer-to-peer
https://learnmeabitcoin.com/beginners/how-does-bitcoin-work/

[bitbollo]

End point... this is just a human bias to see something that should end... I would never see this .
We forget to understand that the wealth is not "created from zero". Even bitcoin has not created from nothing but has been a long process to come to here.


"Look at me, I am the bank now"

The primary consequence (and this has been highligheted by AI) will lead to the end of many "central entity" or in general to the idea that money come from thin air. Without a digital instrument like this would be practically impossible to move money without relying in a certain bank or whatever.
I understand that you need to pay FIAT nowadays. Bitcoin would probably survive in a scenario without FIAT since it's totally another circuit, a new concept of money.
Once you had to not rely on a central entity or in general you can live free of certain standard there are many possibilities from now on for sure 

[JeffBrad12]

It's exactly because of those inherent qualities but I also think it was because bitcoin came out right after the 2008 financial crisis. People associate bitcoin with freedom because it is decentralized and you are your own bank, eliminating counterparty risk.

As for the future of bitcoin, If it ain't broke don't fix it. Bitcoin is already perfect.

[SilverCryptoBullet]

End point... this is just a human bias to see something that should end... I would never see this .
We forget to understand that the wealth is not "created from zero". Even bitcoin has not created from nothing but has been a long process to come to here.

End point?
Bitcoin is the end game, that's it. Michael Saylor said it in an interview, and please don't think everything he said is true but this one is the truth with Bitcoiners who understand about Bitcoin fundamentals and have strong belief in Bitcoin bullish future.

"Look at me, I am the bank now"

Bank users look at Bitcoiners and think we're stupid but Bitcoiners look at bank users and think very oppositely. With Bitcoin blockchain, Bitcoin non custodial wallets, and bitcoins, people have their own banks. Be their own Bitcoin banks mean they are responsible for secure their Bitcoin wallets and bitcoin, it requires something in knowledge and practice but it is worth to do.

Reminder: do not keep your money in online accounts
Events made you scare about custodial wallets, centralized exchanges. There are similar risk and same fear people must feel with Banks.

[Ucy]

The 'end goal' of Bitcoin is similar to what happened at the peak of covid crisis when supply chains and cities were failing, and people were kind of stuck or their freedom restricted. Some understood the reasons for the problems and started building and moving to homesteads or remote communities for more freedom, to grow their own foods, build things themselves, do business in peer-to-peer manner (without middlemen) and be less centralized. This actually helped as people became freer, consume things they produced, do business without getting stuck.

The whole thing was a warning to people of things to expect when catastrophic events happen, then they realized the need for freedom, that the fiat system is fragile & unreliable, and they could starve to death due to supply chain issue.

So, Bitcoin is an alternative to fragile fiat system which people escaping the system can use to store value, for donations or to pay for and sell things they produce in their alternate communities, especially electronically, whether online or offline,  and end up thriving outside of the fiat system.