It is crystal clear that bitcoin was invented to circumvent the central financial system in the world and there are some other interesting features that bitcoin posess that makes it outstanding. What is your opinion about this particular topic?
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Also, to eliminate the limit to the amount of money you can send once without having your account being investigated for fraud. In my country, if you receive more than $50,000 in one payment, your account will be frozen and investigated.As stated in Bitcoin White Paper, Bitcoin was created for three, purposes, one, to eliminate the middleman to sending and receiving funds (there is no intermediary like banks), two, to make the transactions faster (especially involving cross border), and three, to reduce the transaction cost (compared to banks)
Yes, you can send any amount of money through the Bitcoin network. However, I do not know if that was in the mind of Satoshi Nakamoto while creating Bitcoin. When dealing with fiat money, you need to show the source of your money. THis provision is eliminated in crypto transaction.Also, to eliminate the limit to the amount of money you can send once without having your account being investigated for fraud. In my country, if you receive more than $50,000 in one payment, your account will be frozen and investigated.
I won't say Satoshi Nakamoto isn't aware he was going to be eliminating that barrier with cryptocurrency transaction. It's the way banks regulate money laundering but Satoshi Nakamoto wasn't interested in it with how cryptocurrency transaction was meant to be approved.Yes, you can send any amount of money through the Bitcoin network. However, I do not know if that was in the mind of Satoshi Nakamoto while creating Bitcoin. When dealing with fiat money, you need to show the source of your money. THis provision is eliminated in crypto transaction.
It is crystal clear that bitcoin was invented to circumvent the central financial system in the world and there are some other interesting features that bitcoin posess that makes it outstanding. What is your opinion about this particular topic?