Why is Bitcoin beneficial to mankind?

[thehedgemon]

I would assume everyone on this forum has a solid understanding regarding the benefits of a cryptocurrency to the financial world and the advancement of mankind. There are some obvious reasons for why using such a technology is practical for our evolving world and over the past 4 years there have been some great explanations as to the applications and uses of why Bitcoin and its successors could positively change the world economy.

What I'd love is to start a conversation on this thread as to WHY do you personally think Bitcoin is so beneficial and in what instances have you seen it's implementation help or fix what is wrong with our financial system today? Like I said I realize there is plenty out there on the manner and I myself have a great understanding of it's greatness, but let's consolidate.

What do YOU think?

[lukestokes]

I put together a thirty minute presentation with my answer.

Short version: looking at central banking and the manipulation of money throughout history leads me to believe a value store and form of exchange which can't be controlled or corrupted will encourage the spread of freedom and liberty.

To the extent Bitcoin can be improved in the years to come to remain decentralized and free from manipulation, it will be beneficial.

[BitsPoker]

It has the potential to weaken a large group of corrupt people.

[beetcoin]

It has the potential to weaken a large group of corrupt people.

but more importantly, it has the potential to redistribute power to the common man. it gives us more choices so that we don't have to bank with chase.

[Elwar]

I see it not just as an advancement of the financial system but economic/political systems as well.

I see Bitcoin as a way to usher in a progression as significant as going from kingdoms to democracies.

[El Extranjero]

It has the potential to weaken a large group of corrupt people.

but more importantly, it has the potential to redistribute power to the common man. it gives us more choices so that we don't have to bank with chase.

Exactly!

[jdbtracker]

I believe in it because if can change the social order if the right people hold it.
The network effect will change everything, those who accept Bitcoin are at the bottom, with limited capital to invest, but as they hold Bitcoin they will grow in capital power.

We start off with the small businesses with visionary entrepeneurs, because more than likely everyone on this forum are of a type of people who have an open mind and care about the world in one way or another... they can now change the world. Think of the Organic farmers whose methods and ideas will be accelerated because of BTC they can expand their business, Small producers in Third world countries... BTC will change the order of things if we can only get them in the hands of the poorest people on earth, give the chance for once of the smartest among the poorest to reach out and change their community by simply holding on to this Halcyon of change called Bitcoin.