How important is BTC to the Society?

[boyptc]

It's important just as the existence of other investments and currencies. People are already looking forward at it as a type of wants before because it's expensive.

But now, it's becoming like a 'must-have' even if it's still considered expensive for many. Because the true potential of bitcoin has been seen and it's an asset that has been the best performing for the past years

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[Antonas1]

The answers will always be different, and they will never agree with each other. This is what happens in the real world:
- A trader will say cryptocurrencies (bitcoins and altcoins) are very important to make more money.
- For bitcoin lovers, altcoins are trash.
- One government says bitcoin is illegal while another says yes to bitcoin.
- For ordinary people, what is bitcoin? Bullshit, we need money!

[posi]

Have be thinking about the importance of cryptocurrency, especially BTC in our society today and the nearest future. And how is going to improve the Society especially our environment and economic.

Many people still don't know about bitcoin and their life goes on normally without bitcoin so it can be said bitcoin is not affecting or important to society, bitcoin only has an impact on some individuals like us who invest in it.

Many people use bitcoin because it gives them anonymity, a place to store their assets, where they can actually own their assets and not be afraid of being stolen by the government or someone. Along with that, people are looking at bitcoin as an investment that gives good returns.
What I see people are using bitcoin, they are getting better and better, this will make the society better. Hopefully in the future when bitcoin is more known and bitcoin benefits people more from that it will bring more positive influence to society.

[kryptqnick]

Bitcoin is an important idea, that has been implemented. It shows that money doesn't have to be issued by the government, that online transactions don't have to go through an intermediary, that no regulating authority that works on stabilizing the price and working on supply is needed. This is a big transformation of the idea of money, and it happened largely thanks to Bitcoin. As for how big it is in terms of direct impact, it depends on a society, I think. In some countries, Bitcoin is more popular, in some it is barely known. In some cases, it's used as money, in others it's used as an investment or as something to gather international donations in. But let's remember that Bitcoin can't fix the global economy or solve difficult issues. It shows that something out of the ordinary is possible, and it can empower some people. But it's not a magical fix for everything.

[Blawpaw]

Have be thinking about the importance of cryptocurrency, especially BTC in our society today and the nearest future. And how is going to improve the Society especially our environment and economic.

Chris Garrod, wrote an important piece - "Why is Crypto so important and should I care?" about this matter.

Our society is going fast forward into an Orwellian society where privacy and financial freedom are losing their meaning and surveillance is dictating our every action. We are being led into a society of unconcealed consumption where props can be bought at any street corner store but its ideology core values are no longer there. Bitcoin is important in a way that it reminds us of how important decentralization is, and how important financial freedom is.

[Artem Sereda]

Bitcoin is an important idea, that has been implemented. It shows that money doesn't have to be issued by the government, that online transactions don't have to go through an intermediary, that no regulating authority that works on stabilizing the price and working on supply is needed. This is a big transformation of the idea of money, and it happened largely thanks to Bitcoin. As for how big it is in terms of direct impact, it depends on a society, I think. In some countries, Bitcoin is more popular, in some it is barely known. In some cases, it's used as money, in others it's used as an investment or as something to gather international donations in. But let's remember that Bitcoin can't fix the global economy or solve difficult issues. It shows that something out of the ordinary is possible, and it can empower some people. But it's not a magical fix for everything.

I agree with your thesis, but it's not really about the importance for society. In more detail, its importance lies in the simplicity and ease of transactions and security, with the help of which it is faster to make payments for the necessary goods, which is very important for some businesses, for example.

[michellee]

Have be thinking about the importance of cryptocurrency, especially BTC in our society today and the nearest future. And how is going to improve the Society especially our environment and economic.

But unfortunately, currently, only a small part of our society knows bitcoin, while others are still busy with their work activities so they have never known or even heard of bitcoin. But if many people keep trying to spread bitcoin around where they live, chances are they will be interested and join it. Once they start learning about bitcoin, they will think that bitcoin is very important to them and they can use bitcoin as an investment tool apart from the usual investments. This will also help bitcoin to be more popular and not just in a certain place.

[crunck]

Have be thinking about the importance of cryptocurrency, especially BTC in our society today and the nearest future. And how is going to improve the Society especially our environment and economic.

No, Bitcoin is still not large enough to affect the society or the economy of the world. Bitcoin is only affected by smaller individuals, especially here that are only individuals or a group of people. But with the current rapid growth, we have the right to hope that in the next 10 years, BTC will be an important part of society as well as contribute to building the world economy like other industries.

[albon]

Cryptocurrencies in general, and Bitcoin in particular, are of great importance in our society, as Bitcoin enables us to have freedom and privacy in payment and receive money smoothly anywhere in the world, and we can remain anonymous because Bitcoin is not centralized and is not subject to any control or government authority, in addition to the speed of transactions and low fees, Bitcoin has advantages that we lack in our local fiat money, and I think that Bitcoin is very suitable in crises such as financing wars, paying charities around the world and preventing epidemics, where we can do financial matters without exposure or contact with people.

[serjent05]

Bitcoin is very important to society because of the technology it brings.  The transparency of the transaction removes corruption.  The borderless transaction enables people to send funds without the restriction of geographical location.  Bitcoin makes the world looks like one even though it is divided by different regions, religions, and government.  Bitcoin does not discriminate unlike banks and other financial institutions.  Bitcoin does not need a trust system, thus people don't need to prove themselves in order to transact with it.  Bitcoin is slowly changing the face of the financial system.  That is how important BTC to the society.

[n0ne]

The importance of Bitcoin depends upon the users. For an user who have benefitted out of it have positive thoughts over bitcoin. If someone have got into Bitcoin with good thoughts and got scammed/trapped, their experience will be different and have different opinion.

For now we're in a very critical situation, in terms of economy as well is with the available investment opportunities. Bitcoin gave the hope of being our own bank and now the Exchanges fighting for power have made people realise to use non custodial wallets than relying on centralized platforms.

The society have got a huge percentage of un-banked sector. For all such people bitcoin serves to be a way to have control over their funds. Particularly the same getting used as investment, fiat for transaction and store of value is the good thing about it.

[alexandr1115]

It seems to me that blockchain technology can simplify some processes in various industries! It seems to me that this technology can be applied in many places! This is a unique technology and, most importantly, it is reliably protected, I have never heard of hacking the bitcoin blockchain or anything like that!

[noormcs5]

Have be thinking about the importance of cryptocurrency, especially BTC in our society today and the nearest future. And how is going to improve the Society especially our environment and economic.

Bitcoin helps you fight against inflation and it will help you survive in this world. In today's world where the primary currency is Fiat money, where the distribution of this is unfair. Government always prints excess money which makes rich people more richer and poor people more poorer.

Bitcoin can help bridge this gap as its supply is limited and there is no inflation in it. The only hurdle is that government is not in favor to make bitcoin as a mainstream currency.  

[Iroh]

I don't believe that you aren't fluent in speaking or writing; I think you didn't take your time to avoid typos like this, -- a type that almost got me wondering why I decided to read your post in the first place. Check on that.

No. You haven't known this whole cryptographic stuff outrightly. If you do, you shouldn't be asking how important it has been and how it's gonna improve...............makes me feel you haven't aligned with 'em current rehab which has made you looked Bitcoin disdainfully, that's naive.

This sounds hostile, and this response can be discouraging for newbies who truly know nothing about bitcoins and have joined the forum to learn. If this is the regular response that everyone here gives whenever someone asks a question truly when they want to learn from the community, they will not become comfortable, become afraid of expressing themselves and will limit participation so they don't get gaslighted. You can see that OP is truly a newbie, Please be accommodating and hospitable, you were once a newbie to both bitcoins and the forum.

I quite agree with you on this. It does sound a bit hostile and can be discouraging to newbies who has legit questions to ask.
The forum is accommodating to anyone and everyone who is eager to acquire knowledge irrespective of the language spoken. The OP may or may not be fluent in English but that does not deter the individual from asking questions(no mater what it is)and I think that’s admirable.
Everyone on here was a newbie at some point and we should be accommodating to everyone irrespective of how fluent in English the person speaks or writes.

[Franctoshi]

Have be thinking about the importance of cryptocurrency, especially BTC in our society today and the nearest future. And how is going to improve the Society especially our environment and economic.

Bitcoin is becoming so important in the society that everybody wants to get involved even the governments itself, Too Bitcoin is changing our societal view as regards to how money works, That is Bitcon serves investment opportunity and being your own bank.
Bitcoin sloves the problem of cross border payment with easy and fast transaction unlike sending fiat currency from one country to another.

[famososMuertos]

Well, first of all, it is better to say Bitcoin to encompass everything, that is, the dollar as an element of use works well, it is its institutions ( banks, governments, etc) those that make the "flow" not exist.

So, having said that, bitcoin can be the ideal payment system, but if the individuals or those of us who are in the idea of its use or implementation do not develop the collective, then the importance or its relevance is diminished, as is currently the case, there is no revolution (today), in the collective and that can start by not using financial institutions anymore, but it doesn't happen, so, that is where it is important, it is not enough to say "Bitcoin exists, is very good".

[KingsDen]

Have be thinking about the importance of cryptocurrency, especially BTC in our society today and the nearest future. And how is going to improve the Society especially our environment and economic.

Bitcoin is so important in our present life today. Bicoin is fast forming main part of humanity especially in the online companies and for online transactions. You can use the gambling industries for instance as they have accepted bitcoin to a large extent for payment method.
But no matter how important bitcoin is presently, it cannot be compared to the amount of importance bitcoin will be in the future.

When automation will take over the industries of the world where humans might not be needed for transaction acceptance and payment then you will know the importance of Bitcoin for automated transaction confirmation without human interferece, which will be integrated in robots and other technologies. That is when the pure importance of bitcoin will be appreciated by the whole world.

[Solosanz]

BTC is really important for people who live in a country that having high inflation every year and that's make their wealth always lose. If they're invest to Bitcoin, they can make profit when the bull run happen, at least they can beat the inflation and not just let their wealth lose without doing anything. Also if there's a people who have many problem with banks since banks false accused their customers, this can make that people to use BTC to achieve freedom due to complete decentralization.

[bittraffic]

BTC is important for we have yet no definitive idea of what could happen in the future. With BTC, you can keep your wealth whether the country where you are turns into an authoritarian dystopian government. I learned this from prepper though.

There are already places where people can use BTC all around, this could be better if people learn to use wallets where they own the private keys.

[bkelly13]

Have be thinking about the importance of cryptocurrency, especially BTC in our society today and the nearest future. And how is going to improve the Society especially our environment and economic.

Exactly under your topic there is an answer to sort between Bitcoin and Crypto.

For the environment, Bitcoin will not harm the environment.
For the economy, it makes transactions easier.

Considering the incredible amount of energy required for mining, yes, it is harmful to the environment.

Making transaction easier?  Well, not yet.  The cost to buy a wallet and the time learn their use are significantly more than using a credit card.

A google search states 7 transactions per second.  Yeah, the effective amount is larger, but a quick check for Mastercard reports 5000 per second.  That is on the order to 700 times more transactions.  Even with the Lightning network, the bandwidth needs to be much higher.  And with every full node needing some 400 Gbytes and growing every 10 minutes, that is quite a load to impose.

That said:
A world wide currency that cannot be controlled by governments, cannot be inflated by governments, ..., well, that is a huge step in the right direction.

And that said:
The volatility is nothing short of extreme.  Users must plan their transaction to translate to fiat very quickly or must be able to withstand those extremes.  To expect that my favorite currency can lose more than 2/3rd of its value in a few months, ..., well,... that is a lot.