Post
Topic
Board Bitcoin Discussion
Re: Real purpose of Bitcoin
by
kryptqnick
on 26/11/2020, 16:42:14 UTC
When you talk about Bitcoin first thing which most of us thinks either it's a get rich quick scheme or an investment scheme. Did Satoshi Nakamoto created Bitcoin as an investment scheme? No, it was supposed to be a peer to peer payment transaction across borders without involvement expensive money exchangers or regulators but it has been turned into an investment scheme, where are we heading ? Do you think Bitcoin is losing its original purpose of its invention?
There's no one 'real purpose' of Bitcoin. The original purpose was, I believe, a decentralized medium of exchange (money) which could be used without third parties. That's the idea Satoshi put in it. But with time, people started hodling BTC, trading BTC, putting wealth to keep it safe in BTC... And all these things have their risks and potential benefits, they can all work for some people sometimes and now constitute the purposes of Bitcoin. The original purpose is still there with some progress on adoption, but I think it's on the outskirts for the majority of people and I'm not sure whether significant progress in that area is to be seen in the near future.