Bitcoin Is Not an Investment? This is what Satoshi Nakamoto said

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Bittime - Satoshi Nakamoto, the anonymous creator of Bitcoin, the world's largest cryptocurrency, recently expressed his views on the origins and purpose of Bitcoin. In a number of emails released by Martii Malmi, one of Bitcoin's early developers, Satoshi explained that Bitcoin is not an investment, but rather a peer-to-peer (p2p) payment system that functions without intermediaries.

Satoshi said that he created Bitcoin in response to the global financial crisis in 2008. The crisis exposed the weaknesses and unfairness of the traditional banking system. He wants to create a transparent, decentralized, and democratic system, where everyone can participate and have control over their own money.

Satoshi also emphasized the importance of the Proof of Work (PoW) consensus algorithm used by Bitcoin to secure the network and prevent double spending. PoW is a mechanism that requires Bitcoin miners to solve complex mathematical problems to verify transactions and earn Bitcoin rewards. 

Although PoW is considered effective and safe, it also recognizes that PoW can have a negative impact on the environment, as it consumes huge amounts of energy.

"I'm not saying that we should ignore energy consumption. I'm just saying that if we have to choose between having economic freedom and energy conservation, we may have to make a difficult decision," said Satoshi .

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Satoshi said that he found no other solution than PoW to make the Bitcoin system work. However, he also believes that Bitcoin's energy consumption will not be too wasteful when compared to the costs incurred by the conventional banking system, such as buildings, advertising and bureaucracy. 

He also hopes that Bitcoin technology will continue to develop and find ways to reduce its environmental impact.

Satoshi closed his email by saying that Bitcoin is an unprecedented social and economic experiment. He invites everyone to get involved and contribute to the development of Bitcoin. 

Apart from that, Nakamoto also asked people not to just think of it as an investment. He also reminded that Bitcoin is still in its early stages and has many challenges and risks that must be faced.

How to Buy BTC on Bittime

You can buy and sell BTC tokens in an easy and safe way via Bittime. Bittime is one of the best crypto applications in Indonesia which is officially registered with Bappbeti. BTC is available on Bittime with BTC IDR pairing.

To be able to buy BTC/IDR tokens on Bittime, make sure you have registered and completed identity verification. Apart from that, also make sure that you have sufficient balance by depositing some funds into your wallet. For your information, the minimum purchase of Bittime assets is IDR 10,000. After that, you can make BTC purchases in the application. Learn a more complete guide on how to buy BTC on Bittime

Monitor price chart movements of Bitcoin (BTC), Ethereum (ETH), Solana (SOL) and other cryptos to find out today's crypto market trends in real-time on Bittime. 

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DISCLAIMER : This article is informational in nature and is not an offer or invitation to sell or buy any crypto assets. Trading crypto assets is a high-risk activity. Crypto asset prices are volatile, where prices can change significantly from time to time and Bittime is not responsible for changes in fluctuations in crypto asset exchange rates.