What problem did Satoshi Nakamoto try to solve that Jamie Dimon of JPMorgan could not figure out or solve? I was reading the whitepaper and could not understand what problem he was trying to solve. Can any of you explain how cryptocurrencies help traditional banks, and what is the utility of cryptocurrencies for the common man? Why do Walmart, Amazon, Target, Macy's, and local grocery chains not accept cryptocurrencies like credit cards, such as Mastercard or Visa?
Satoshi Nakamoto White Paper
byu/Consistent_Key3571 inBitcoin
Posted by Consistent_Key3571
7 Comments
Intrinsic truth.
The whole point was cutting out middlemen like banks who take their cut on every transaction – kinda defeats the purpose if traditional banks just absorb crypto into their existing systems
Bitcoin go up because Jamie Dimon and others including governments can’t turn it off or stop it. Decentralized, sir.
You read the full white paper but did you understand it? What part doesn’t make sense?
Bitcoin isn’t here to help any bank, but they are welcome to participate. Increasingly they will realize they don’t have a choice but to participate if they want to remain relevant against a superior form of money. Accepting a new form of money and technology takes time for regulations to mature — most companies didn’t adopt the internet right away either.
Bitcoin is not trying to help the banks
bitcoin is money that’s all.
It is hard money that people can’t manipulate especially the banks so of course the banks don’t like bitcoin
Jamie Dimon would need to fire himself and shutbdown his bank to solve what Satoshi did. Ain’t never gonna happen.
Byzantine Generals problem