Why Bitcoin is important

Categories: Educational articles | Published by: Dimitar Dimitrov

02/08/2019

Every few decades there is a radical invention

With the world moving forward and technologies advancing ever faster, there is one thing that hasn’t developed further for many years – our basic understanding of money. Bitcoin is a new, radical invention that is changing the way we think about value. There are many people who dismiss it or say it has no value.

But does fiat have any fundamental value other than our trust in it? Money is an instrument and throughout our history, we’ve used it in many forms.

Whenever or if you ever get involved with Bitcoin, it is recommended to be open-minded towards new technologies.

Taking the red pill

In a world full of economic uncertainties, trading sanctions & wars, high tensions between countries and massive money printing through QA (Quantitative Easing), we’re set to experience perhaps one of the biggest recession in decades, and despite all the regulations, some banks that do whatever they want.

Almost all countries have accumulated debts far in excess of their capabilities. In the last 10 years, we have seen truly massive money printing by almost every nation. Everything we see paves the way for Bitcoin.

Opportunity for everybody

Even if we are experiencing a major recession and turbulent times, there may be a way to emerge stronger and better. During a recession, we usually see gold and silver gaining in value and demand because they act as a store of value. When one thing goes down, something else goes up.

This time we have Bitcoin

This recession, which may come in the next few years, will be the first in which we have another option in the face of Bitcoin. This comes with the perks of being able to get out of your country’s currency, to participate in an asset that is deflationary. You can move it anywhere, send it to anyone, without any restrictions – your own bank.

Why does it matter?

Bitcoin’s foundation becomes stronger day by day with a network that has proven itself over the last ten years. It is important because of its characteristics and is needed in a world of collapsing currencies.

Why will it be important?

Everybody will need a currency that is neutral and acts as a secure way to store their wealth over a long period of time. Usually, those assets are precious metals such as gold and silver. Bitcoin is infamous for becoming digital gold.

Here are some of the most important characteristics of Bitcoin:

Decentralized
Neutral
Global
Independent from Central Banks and Governments
Censorship-resistant
Immutable transaction
Limited

Make sure to educate as much as you can on the basics and you will fare well in investing and overall. Having additional knowledge of how things work is never negative.