Was Satoshi's thinking of a real peer-to-peer cash system allowing micropayments to happen or was he just wanting to make a threat and rebellion for the current scam financial system?

In the original white paper you can found he was aiming to bring to the world a peer-to-peer cash system and you can see also from the following original white paper Satoshi's quote:


So since the beginning Satoshi was indeed worried about the trust model the financial system keep from themselves.


He was indeed, most worried about the trust issue rather than allowing micropayments with a peer-to-peer cash system. This was understandable because from the beginning nobody couldn't tell if the system proposed were going to be successful or not so was better first to solve the trust issue and mostly because the recent 2008 financial crisis.

Some other Satoshi's quote that suggest the aiming to micropayments:


So in conclusion you can say Satoshi indeed solve the trust issue of a centralized monetary system and although today Bitcoin is the most widely used cryptocurrency that allows wealth transfer in a decentralized way it also lack of the main features purposes that is to accomplish small casual transactions with lower costs.

So in my personal point of view I see Satoshi's first attempt to solve the centralized trust issue with a decentralized ledger called now blockchain but then for micropayments we found it's vulnerabilities and we call them scaling issues. So my hope is, in the 10th anniversary of Bitcoin we can retake his original idea and now with the research and advance of the decentralized systems we can found a better way to accomplish it's main idea.

I know it's just matter of time Bitcoin will solve all it's issues and reach the adoption and awareness it deserves all across the world  

Links: https://bitcoin.org/bitcoin.pdf

  

Just because David Yermack says so it doesn't need to be true. And his thoughts are clearly what we know as FUD on the overall industry. Fear, uncertainty and doubt are always present in the normal behavior of humanity when something new is appearing.

It's true that maybe Bitcoin can serve as currency now -mostly because it's scalability issues- but it's true that also now serves as store of value and wealth transfer. Wealth transfer can never been so easy, cheap and secure like it is now because of Bitcoin. You have the certainty that the amount of Bitcoin you send through blockchain will be the amount of legit Bitcoin your counterparty will receive. No double spending neither counterfeit issues. This is the intrinsic value some people deny to see.

The technology itself is what gives value to Bitcoin so it's false it's value it's taken from nowhere. What really fails to meet the criteria as currency is the fiat we're using right now. The biggest scam in history  

I completely agree. It's ironic how the main forum of the main decentralized technology we have right now it's aiming to be the most centralized thing with thoughts like this. I wouldn't support this KYC system and I'm sure this forum can die if implemented some day.

Despite of the lots of work moderators should do to maintain this working it's curious how humanity tend to being authoritarian with measures like this. This is why government keeps existing so far till now...

Anarchism isn't always chaos but a cumulation of choices made in liberty from the individuals. It's true it can result in chaos sometimes, but anarchism will bring up a solution if chaos result in a matter of an issue 

And that's why a truly decentralized system matters even more than the impact of the overall blockchain industry has doing today. We need to get rid of authoritarian villains who only seek to fulfill their only greedy and ambitious purposes. I hope, soon technology will bring us closer and closer to that stage of human society 

Yes I agree, it's hard to know even know how much are the gold reserves all across the world. The supply will just keep growing and there is  clearly a lack of transparency about how they deal with this information.

I remember have heard this long ago on Reddit but was never interested in doing the research needed, then I found it was indeed even more rarer  

Here is what I got:

"The World Gold Council estimates that all the gold ever mined totaled 187,200 metric tons in 2017" so this means there is a total equivalent in ounces of 187200000/0.02835 = 6,603,174,603 ever mined at this point in earth.

So with a total of 21,000,000 that would be ever created this means a total of 6,603,174,603/21000000 = 314 bitcoin ratio against gold, so you can say per one bitcoin there is 314 gold ounces  

Links: https://en.wikipedia.org/wiki/Gold_reserve

Just after the financial crisis in 2009, the journalist Scott Pelley asked Ben Bernanke on the 60 minutes CBS TV show where did they get the money for the AIG bailout in march 14, 2009? was these money of the taxpayer people?

He just said:"No. It isn't money from the taxpayers. The banks has it's own accounts with the Federal Reserve as well as you can have one with one commercial bank."

He continued: "In such way, to loan to a bank, one just simply uses the computer to mark up the size of the account they had with the Federal Reserve"

So he just literally admits they create the 85,000,000,000 usd out of nowhere to rescue the private company. This isn't the way capitalism should work and it's more like socialism where everybody takes the loses  

It can be the reserve value reference for the world but I doubt it can be used as currency any time soon. Micro payments through bitcoin blockchain can be really expensive and also the network congestion in highly demand times like the one we experienced past December 2017 can result in a very slow network. I like bitcoin but it needs to solve it scalability issues first for considering this to happens any time soon  

I think the future is bright for most cryptocurrencies that are worrying about developing real technology behind. I like mining algorithms because it's impact of incentives in the creation of Bitcoin but right now there is better choices regarding decentralized ideas. For example I like Stellar because it's Stellar Consensus Protocol so, even though it's not mineable it can be a great choice if you are looking for a decentralized cryptocurrency

Yes I think so as the support level at 6100 was holding great all during the year and the recognition through the overall media was growing as well. I think we can also broke 10,000 barrier anytime soon  

Bitcoin was launched by a group of cypher punks who thought about the overwhelming State role on the ongoing economies, so we can say with a libertarian point of view. So I think it's unnecessary the effort to bring the State again control of our lives with a taxation system of the decentralized economy we all are trying to bring it here.

What will happen it is just fiat now will be backed by crypto   

Yes it can and it's currently used widely on countries with high inflations rates like Venezuela and Zimbabwe. Also, it will become most popular when people realize each country exports it's little piece of inflation each year to their foreigns countries 

It can stabilize economies with a more transparent and easy to use cash system it's just that for now there is lot of challenges regarding scalability issues.

Because they will avoid corruption since all transactions are traceable  

There has been numerous Bitcoin drops and bear markets in the past. This behavior is just naturally. Remember the first bear market we had was the one in 2012 when price peaks up to US$7.08 and declined -40% to US$4.22 with a duration of 185 days.

The other one wa the one we had in 2013 when price peaks to US$1149.14 and declined -83% to US$197.24. Now, it's true we're un bear cycle but with time, counterfeit fiat made by governments will eventually rise up it's value. Remember that the USA produces 38 million notes a day with a face value of approximately $541 million dollars each day  

They can do anything to stop blockchain. Every attempt they make will just help to reach massive awareness 

Also, there are around 29 million digital wallets created till now. A regular user can create 1, 10, 100 or any number of wallets. This represents that only 0.38% of the population or less has created a Bitcoin wallet.

Banks are experiencing right now with blockchain and cryptocurrencies. Mostly with consensus algorithms like the one Ripple and Stellar has. It's matter of time they will implement this technology for avoiding double spending issues. There are numerous startups trying to integrate blockchain now with the financial world and when this finally happens, we can be witnesses of the most impressive growth of the blockchain industry will have 

Initially, when bitcoins were mined they were virtually worthless as it cost literally cents to buy a BTC. But it was until 22 May 2010, when someone purchased something with bitcoins. It will continuing to raise in value since it's deflationary and with time it will become more valuable against dollar, just at this time it can't be used as cash system because it's scalability issues.