Why is Bitcoin important

[firasbc]

for some people bitcoin is impotant cause they use it in the black markets, i hope you understand the word 'some people'

[Finnsimon]

Bitcoin is important because it supports financial needs,  and source of daily needs, which helps for us to live.

[topchiiy86]

For me Bitcoin is a foundation of all the crypto market. As now it strengthen its position by increasing its share up to 45%. Until it has such a huge share it's very easy to manipulate the market by just moving the price of BTC, as most of other ALTS just follow BTC trend. So BTC is not just a good coin for holding it's also a good instrument of manipulation.

[organelles]

Bitcoin is a new technology that comes with lots of advantagaes including:

Easy and fast transaction

Guaranteed safety to users

No control from the governing bodies

[lampukoe lumo]

The reason that bitcoin is so important is that bitcoin is the world's first ever krypto currency and bitcoin is also the most expensive digital sphere in the world, because that's what makes bitcoin so important. Bitcoin is important because it is the first currency in the cryptocurrency space, a revolutionary piece of technology that is INTEGRAL in driving innovation in banking and finance.

[Kamranzafar065]

Why Bitcoin is Important
An explanation about the big deal of Bitcoin for the non-tech people

Most have now heard of Bitcoin because there is so much coverage of people getting ‘rich’ from Bitcoin. But the more I research, the more I realize: Not that many people know exactly what it is, how it applies to them, and why ‘Bitcoin’ is so valuable.

I put Bitcoin in quotes because Bitcoin only represents a sliver of the possibilities behind the fundamental reason Bitcoin, or cryptocurrency, digital assets, alt coins, and blockchain are so important. That said, disclaimer: If you’re here to learn how to instantly make money from ICOs, this post isn’t for you.

Let me back up a bit.

The rapid growth of the middle-class is the reason I choose to live in SEA but it also should be worrisome to the world for one reason: by 2030, it is projected that 2/3 of the world’s middle class population will be living in Asia.


I use the term Asia broadly, but these countries include, but not limited to: Asia-Pacific (Southeast Asia ie: Indonesia, Malaysia, Thailand, Vietnam, Singapore, Philippines, Myanmar, Cambodia, Laos, Brunei), and of course, China, and India. (Sources: 1, 2, 3, 4)

What this implies is if 2/3 of the middle class population is based in Asia, the economic power will start shifting, new problems and solutions for these problems come alive. Or, as we commonly hear: disruption and innovation.

My interest in Bitcoin (or crypotcurrency and blockchain technology) simply started as a curious, technologically savvy person residing in this region, as crypoto is only one of the ‘disruptive’ or ‘innovative’ technologies deriving from quick change. Within the short 4.5 years I’ve moved from the States to ‘Asia’, I’ve seen with my own eyes, massive advances.

What does this mean?

I’ve been obsessed with messaging apps, anything mobile, and SEA — specifically how technology is changing economies in high-growth nations, driving innovation from need, reducing socio-economic inequalities, and the failures of first world nations to keep up. (This sounds like a bunch of jargon but whatever. Deal with it.)

Messaging apps that started as communication utilities are now full-blown ecosystems where billions of micro-transactions from communication (messaging), payments (cashless), to things that make daily life easier (food delivery, share economy, etc.) take place on a daily basis. And this is just the beginning.

In a region where things change on close to a daily basis, conversations about currency are naturally floating about because

according to the World Bank’s Global Financial Inclusion Database, over 2.5B adults in developing economies do not own bank accounts
and only 20% of those living in extreme poverty own bank accounts
Source

And by 2020, there will be 1 billion new smartphone subscribers only in SEA. (source)


With the mobile penetration changes, our daily lives are impacted, as daily necessities are physically met through mobile technology. If you live in a first world, it may be hard to imagine a world where getting from point A to point B can take an entire day, since city infrastructures in developing nations aren’t designed to handle traffic and congestion. Imagine taking a day off to run simple errands, such as shopping, banking, and paying bills. Now, imagine not having a bank account because you can’t afford to pay banking fees or you don’t have a valid I.D., or worse: the nearest bank to your home requires a day trip.

Enter Bitcoin.
In regions with pain points such as the above, the notion of currency that doesn’t require the middleman (banks) is the reason investors, bankers, and smart people in fin-tech find Bitcoin so alluring.

Put it this way: If we can make free calls between San Francisco and Beijing, why do we have to pay to transfer money from San Francisco to Beijing? If it takes all day to take out cash from my bank account, why won’t I leave it in a safe under my bed unless there’s a better option? In a world where middlemen can potentially take six paychecks worth of fees, why wouldn’t I find a way to cut out the middleman and directly transact?

These are only a few problems ‘Bitcoin’ or more accurately, cryptocurrency and blockchain technology can solve.BTC

[SixOfFive]

The importance of Bitcoin is that transactions are fast, secure and global. It allows people to maintain their accounts without the fear of breach in data privacy. It is not compulsory for the people to show their identities during transactions. So you can keep you finances private.

[Rosscy]

In my current personal life, bitcoin is very important in my life. I am very interested in the world of cryptocurrency, especially digital currencies such as bitcoin. Bitcoin is very important like my main job, because I am currently running a business as well.

I know bitcoin and this forum is almost 6 months ago, but at that time I still focus on my business so I ignored this forum, and finally decided to run the business and look for additional income from bitcoin and finally I joined again to this forum. Then learn from my friends who have already joined this bitcoin forum. For now bitcoin is the second alternative to finding additional income.

[MBAPOLIN]

Bitcoin is a cryptocurrency, a digital asset designed to work as a medium of exchange that uses cryptography to control its creation and management, Bitcoin is the future creating development human resources so its profits and success.

[amwer]

My interest in Bitcoin (or crypotcurrency and blockchain technology) simply started as a curious, technologically savvy person residing in this region, as crypoto is only one of the ‘disruptive’ or ‘innovative’ technologies deriving from quick change. Within the short 4.5 years I’ve moved from the States to ‘Asia’, I’ve seen with my own eyes, massive advances.

[sulec70]

For me many people think bitcoin is just a fantasy that make bitcoin users get rich. But the reality is yes, it is. Bitcoin users and also me are the believers to be rich with the of bitcoin that is why we put importance in bitcoin in our life. Bitcoin represent as our savior when the time we are in financial problem.

[Toshibaro]

what we know of bitcoin has had a big influence on the market of coinmarketcap and the crypto currency that has a positive and negative impact on its exchange rate. especially BTC has a unique algorithm that may be difficult to recreate which makes the name of the creator disguised to avoid bad situations

For me bitcoin is important because the transaction is fast good investing and bitcoin is very usefull and most thing why bitcoin is famous because many people change life because of bitcoin for me bitcoin is very important specially the poor,...

[RokokGudangGaram]

bitcoin is important because many people are helping it and I am confident that it will further help it and will further improve the bitcoin economy.

it's true that your bitcoin can change the economy of everyone in the world who becomes its users. so bitcoin is very important for all users because bitcoin can also improve the world economy and its users

[waqasniaz007]

It is the first distributed point-to-point payment network operated by its users without a central authority or intermediary.From the user’s point of view, Bitcoin is pretty much the same as Internet money. Bitcoin is a consensus network that enables a new payment system and a fully digital Asset.Bitcoin can also be considered as the most important existing accounting system with three entries.

[Mumbeeptind1963]

My interest in Bitcoin (or crypotcurrency and blockchain technology) simply started as a curious, technologically savvy person residing in this region, as crypoto is only one of the ‘disruptive’ or ‘innovative’ technologies deriving from quick change. Within the short 4.5 years I’ve moved from the States to ‘Asia’, I’ve seen with my own eyes, massive advances.

With ordinary people like me bitcoin is very important mostly in our daily lives. We can earn extra income because of bitcoin and some make a living out of it. Some unemployed people had found their job in here in which they are making money. Not just in that why bitcoin is important it's also being used in some transactions to have a faster, easier and legit trading. There's a lot of it reasons but I only gave that for me is the most important.

[anana ris]

Bitcoin price growth more than world expected, realize that proved bitcoin is the best investment until now. Didnt denied it.
Bitcoin more worthy than a money for me (bitcoin has a potencial growing price). So many benefit. Easy transactions, instant payment.

[jomel]

Bitcoin is a fast growing internet technology that is now useful for all the who uses online transaction instead of falling in line just to transact something. And it is also help people for their payments because it is less hassle for them. Another is, it is more convenient, fast and safe for all the people who are using it.

[cloudproject]

bitcoin and blockchain tech provide us about efficent transaction and the freedom to doing that without help by third party
and that thing would be great as future economic system and technology boost and also make people with new inovation with that

[twitami1]

Bitcoin is a digital currency, the value of which is based directly on two things: the use of the payment system today - the volume and speed of payments passing through the ledger - and speculation about the use of the payment system in the future. This is what confuses people. It can not be said that Bitcoin has an arbitrary value, on the basis of which people also trade; it's more that people can trade with Bitcoin (everywhere, without fraud and without or with very low commission), and as a result, it has a value.

[Testme]

Bitcoin is really important in our lives. Especially for those people who use it to transfer and send funds. It is can transfer faster and hassle free. And also bitcoin can help people to earn bitcoins and have incomes.