What is the purpose of a “Refresh Token”?

I have a program that integrates with the YouTube Live Streaming API. It runs on timers, so its been relatively easy for me to program in to fetch a new Access Token every 50 minutes with a Refresh Token. My question is, why?

When I authenticated with YouTube, it gave me a Refresh Token. I then use this refresh token to get a new Access Token about once an hour. If I have the Refresh Token, I can ALWAYS use this to get a new Access Token, since it never expires. So I don’t see how this is any more secure than just giving me an Access Token from the start and not bothering with the whole Refresh Token system.

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