Post
Topic
Board Bitcoin Discussion
Re: The BitCoin Cause
by
Herbert2020
on 20/02/2017, 08:16:11 UTC
So I saw many threads on will bitcoin be used by common people or when it will be used by all over the world and for buying groceries etc.
But I wonder, was bitcoin actually meant to be used like that? What was the actual cause for creating bitcoin? And for whom it was meant to be?
Any facts or thoughts?

well from the beginning (as you can also see in the bitcoin white paper) bitcoin is called a digital peer to peer cash. so it was meant to be used as a currency and as a decentralized one without any central authority like banks.

also in the beginning there were no limitation on block size. which means bitcoin could potentially handle limitless number of transactions but there limit of 1 MB was put there to prevent spam attacks.
but in my opinion this doesn't mean bitcoin was supposed to be used to buy groceries! you can use fiat for that.