¿what is the contribution to the society of the idea behind bitcoin?

[Goku123]

Hi everybody, i am a student of economics and  i'm interested make my thesis for i could graduated about Bitcoin. In specific, i want to do a analysis of bitcoin market in Colombia. It is basically the question of investigation of my job. Yet i am thinking the hypothesis and in this topic i would like that focus in the contribute  of the bitcoin to the society through of market. I had thinked in the transaction costs that save the system of transactions virtual. If you could help me with ideas i will be many grateful.


Regards.

[Welsh]

The contribution? I'm not sure if this answers your question directly, but the major draws to Bitcoin are; The blockchain which provides a public ledger, which is immune from corruption, and manipulation. Then, there's also the fact it gives the freedom back to the people, and allows them to remove the third party (bank), and manage their own money.

Therefore, Bitcoin contributes to society through providing freedom back to the user, and provides transparency network wide, while still offered a certain degree of privacy (since Bitcoin is pseudonymous). I'm not sure what you mean by the transaction costs, so if you could elaborate on that, we might be able to provide more helpful answers on it.

[Karish2return]

Most people see Bitcoin as a phenomenon with great relevance. And most individuals are waiting for their present leaders to direct them regarding the future of cryptocurrencies like Bitcoin. But, Bitcoin uses blockchain technology. And this is an innovation that can help deal with ills that affect current society. With this technology, humanity can easily manage and access information about money.

[mk4]

Concept-wise, one of the frequently overlooked ones is the idea of self-custody and having true ownership of your funds. With Bitcoin, just like when you physically own gold, you truly own it, because you don’t need to trust a central authority(e.g. banks, PayPal, etc)  to store it for you. You can send/receive bitcoin literally any time as long as you have internet connection.

[Ucy]

It has contributed alot. Its contribution is so much that if it's uttered without being detailed it could attract lots of enemies from those who don't want it to be free and successful.
I think you should find time to research this your self from other reputable sites that have written fair articles on similar topic.

[clippers]

The value behind Bitcoin is great, and I want to answer this question from several aspects.

1. Bitcoin is an advantageous tool to fight inflation. For most people, this is the easiest to understand. For example, many countries facing severe inflation in their domestic fiat currencies, such as El Salvador. For the people of these countries, the assets in their hands will always face depreciation, and holding Bitcoin at this time will be a better choice.

2. Bitcoin provides convenience for long-distance transactions. The current cross-border transfer process is very cumbersome and requires high handling fees. Using Bitcoin as a means of transaction is faster and more secure.

3. There are valuable ideas hidden behind Bitcoin. I have seen people in this forum more than once compare Bitcoin to a new human civilization. Compared with the role of the economic field, Bitcoin solves the problem of collaboration between people through technology. Two people who have never met can build trust through the Bitcoin network, which is unprecedented in human history.

Finally, please allow me to recommend a few links to you to help you better understand Bitcoin.

For Bitcoin FUD, please see here: https://endthefud.org/

My personal favorite Bitcoin interpreter: https://unchained-capital.com/blog/author/plewis/

About the price of Bitcoin: https://www.blockchaincenter.net/bitcoin-rainbow-chart/

Interpretation of the Bitcoin white paper: https://fermatslibrary.com/s/bitcoin

[pakhitheboss]

As a society and due to the pandemic we are now more dependent on the internet. Bitcoin is a currency of the internet that is completely decentralized and transparent. Its emphasis was on privacy and to an extent many are still benefiting internet privacy. It was created to replace the existing financial payment structure but unfortunately it has not been able to do it. It is slowly becoming an assets and most probably it will be the most profitable asset for the society in coming years.

[cr1776]

1. Protection from authoritarians who want to seize the products of your life - just like the democrat slave owners in the US, who believed that their need was justification for seizing the lives of slaves
2. Avoidance of capital controls imposed by those authoritarians
3. Protection from the ravages of inflation caused by terrible polices like those above
4. Inability to censor - unlike banks, fiat, centralize crypto
5. Decentralization
6. Anonymity - more anonymity as time progresses with various upgrades to the software
7. Micropayments via second layers

In short, protection of your freedom and liberty from those who want the power to control you and the power to decide how you should live your life.  Protection of the smallest minority in the world - the individual - from the power of the majority who may believe that the minority of one has to bend to the will of a majority because they hold a gun.

[Kez1817]

Bitcoins has a lot of contributions in society. First, it give us freedom from the government because of it's decentralization. Government has no single authority to control it. Through bitcoin, it can also eliminate corruption. Second, you can transfer your bitcoin with no restrictions and without involving any third party. Third, you can save Bitcoin in secure storage or a digital wallet with your own password and private key. It means, you're the only responsible with your funds unlike in a banks that you use it as a third party. Fourth, you can exchange your bitcoin into a fiat currency easily if you want to cash out or spend your bitcoin. It is convenient to use bitcoin and can make a transaction anytime, hassle free.

[mckinleeanael07]

hi my friend i am not sure my donation will make you any better but in my opinion BTC makes me free of assets from tax collection and control of any bank or central for so it's thanks to it that we have financial freedom.

[avikz]

Hi everybody, i am a student of economics and  i'm interested make my thesis for i could graduated about Bitcoin. In specific, i want to do a analysis of bitcoin market in Colombia. It is basically the question of investigation of my job. Yet i am thinking the hypothesis and in this topic i would like that focus in the contribute  of the bitcoin to the society through of market. I had thinked in the transaction costs that save the system of transactions virtual. If you could help me with ideas i will be many grateful.


Regards.

Ok, so I will give you some bullet points and you can research further on those to understand the contribution of bitcoin to the society,

1. Decentralized monetary system that is controlled by nobody. You are the master of your own wealth unlike the banking system.
2. Bitcoin doesn't get printed like fiat so it is mostly immune from inflation
3. It has the power to include unbanked population into the scope of modern monetary system

I think these 3 are the major points of contribution by bitcoin to the society. Obviously you will have to research more on thi to deeply understand the impact.

[fiulpro]

Hi everybody, i am a student of economics and  i'm interested make my thesis for i could graduated about Bitcoin. In specific, i want to do a analysis of bitcoin market in Colombia. It is basically the question of investigation of my job. Yet i am thinking the hypothesis and in this topic i would like that focus in the contribute  of the bitcoin to the society through of market. I had thinked in the transaction costs that save the system of transactions virtual. If you could help me with ideas i will be many grateful.


Regards.

Hello
You mean the "Contribution of Bitcoins to the society as a whole?"
I do think that they are indeed numerous. Some of these I would like to mention here:
- Bitcoins have honestly made people rich, some of them through trading and some of them through holding, which is an impossible task if given today's situation. They have bridged the gap between the economically different sections, yet they continue to do so. Even if it's low in percentage but still it's relevant since it's a big deal.
-Its giving this generation the exposure of trading, you can start with as low as 5$! Then learn yourself. Which I do not see happening in the markets.
-Its much more efficient in taking the businesses international, you don't have to wait a lot or even fill numerous forms. It's much easier to send/receive from any part of the world.
Honestly it did a lot for the society as a whole. These are just few examples.

[vv181]

3. It has the power to include unbanked population into the scope of modern monetary system .

What kind of power if I might ask?

One of the reasons why people still unbanked are because they are lack of income/money, how could Bitcoin has the power for that. If we presume the causation of the unbanked people wholefully, presumably, it's mainly not because they lack access to the current monetary system. Instead, there are major problems like lack of education and poverty. What kind of power Bitcoin could save that^(currently)?

[BTCINVESTOR]

Well said

1. Protection from authoritarians who want to seize the products of your life - just like the democrat slave owners in the US, who believed that their need was justification for seizing the lives of slaves
2. Avoidance of capital controls imposed by those authoritarians
3. Protection from the ravages of inflation caused by terrible polices like those above
4. Inability to censor - unlike banks, fiat, centralize crypto
5. Decentralization
6. Anonymity - more anonymity as time progresses with various upgrades to the software
7. Micropayments via second layers

In short, protection of your freedom and liberty from those who want the power to control you and the power to decide how you should live your life.  Protection of the smallest minority in the world - the individual - from the power of the majority who may believe that the minority of one has to bend to the will of a majority because they hold a gun.

[BlackHatCoiner]

The contribution of Bitcoin to society, hmm...

That's a tough topic for discussion. In a nutsell, Bitcoin cuts the need for a third party that will transact your value and lets you be responsible for your own wealth. It's pretty normal, in my opinion. Why would another person hold my money, when they're mine? Shouldn't I have the custody? Lots of people haven't ever thought of this, they believe that it's normal for the banks to keep them. The society currently works mostly with IOUs and not with liquidity.

When you purchase something using your credit card, you just receive a debt from the merchant. The merchant can then use that debt to pay someone else. The last person who will want to liquid it, will make the first one amortized. While the way humans create debts cannot change, Bitcoin accomplishes something very significant; it gets rid of what I just described. When you transact money with me using Bitcoin, you aren't being debted; you're paying me off. It is really interesting how a ledger stops showing IOUs, because there's censorship resistance and thus, no need to liquid anything. Think about it, if no one can change the ledger by their own willing, there won't be any reason to use cash. The ledger speaks for itself for your money.

Then, there's the deflation (21M BTC limit). I'm not sure if that would be an upside or a downside for the economy; you surely escape the risk of arbitrary inflation of centrally managed currencies as the founder had said, but if your funds worth more in the future (including your belief into this), you'll think it twice to spend it. If you're a student of economics, you should acknowledge that if there's less money traffic, it makes the economy unhealthier.

Generally speaking; Bitcoin is a currency created by the people, given to the people, for the people. A strong experiment to the society. — BlackHatCoiner | bitcointalk.org

[syedakhlaque]

Hi everybody, i am a student of economics and  i'm interested make my thesis for i could graduated about Bitcoin. In specific, i want to do a analysis of bitcoin market in Colombia. It is basically the question of investigation of my job. Yet i am thinking the hypothesis and in this topic i would like that focus in the contribute  of the bitcoin to the society through of market. I had thinked in the transaction costs that save the system of transactions virtual. If you could help me with ideas i will be many grateful.


Regards.

Mr. you have selected a very good topic for the thesis. In fact, Bitcoin and cryptocurrency have a great contribution to society for the public.
In a traditional business, there need a huge amount to start and run . And also wait a period till the success. But in bitcoin or crypto, you can take start with a small amount. you can make it successful with your hard work. There are a lot of chances to grow and to increase your investment. This business is easy to learn & easy to adopt. This business is very popular with the young generation. They love to do it & eager to learn it.

[Newlifebtc]

Most people see Bitcoin as a phenomenon with great relevance. And most individuals are waiting for their present leaders to direct them regarding the future of cryptocurrencies like Bitcoin. But, Bitcoin uses blockchain technology. And this is an innovation that can help deal with ills that affect current society. With this technology, humanity can easily manage and access information about money.

Which technology bitcoin is using, so we can know and also know what to tell others, blockchain is not like exchange were bitcoin transaction is done, i think you have more explanation how bitcoin technology workes just let me know.