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Which of the following is a reason why Satoshi Nakamoto created Bitcoin after the financial crisis of 2008?
To avoid taxes and inflation
To avoid dealing with traditional financial institutions
To quickly withdraw currency from financial institutions
To make payments to friends by only using a phone
The correct answer is: To avoid dealing with traditional financial institutions.
Satoshi Nakamoto created Bitcoin as a response to the failures of traditional financial systems, particularly highlighted during the financial crisis of 2008. Bitcoin was designed to enable peer-to-peer transactions without the need for intermediaries like banks, allowing users to have more control over their own money and to increase transparency and security in transactions. This was part of a broader vision for a decentralized financial system.