# NOT POSTED

Bitcoin was created because there was no system for peer-to-peer internet payments that did not depend on trusted third parties (a "trustless" payment system); and Satoshi thought that there was a need for such a system, and he knew how to build one.

Bitcoin was not designed and implemented with the goal of replacing traditional systems, based on trusted third parties (which Satoshi admitted that were good enough for most purposes).  Even in the most optimistic assumption -- that bitcoin can be ***the*** world's trustless payment system, rather than just an experiment or protoype thereof -- it is not necessary, or possible, that it be used for *every* payment.  

To accomplish its (optimistic) goal, it suffices that  bitcoin be available and viable for peer to peer payments where its distinguishing design feature -- "no need for a trusted third party" -- is necessary or desirable.   For that, it does not have to be cheaper, safer, faster, more confidential, or easier to use than traditional systems; but it must have enough of those qualities to remain available and viable.

So, transaction fees, in particular, do not have to be cheaper than PayPal's; but should be cheap enough for   the kind of payments that people may