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Why is Bitcoin So Important?



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Why is Bitcoin So Important?

Why is Bitcoin So Important? http://www.Ameerrosic.com

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The ninth year into its journey, people’s trust in Bitcoin is growing at an exponential rate reaching new audiences. Hacker-money, as it was called in the beginning, is no longer for hackers only.

Bitcoin was one of the biggest leaps in technology since the inception of the Internet, hailing the new era of digital money, disrupting industries and financial institutions as well as introducing a new social paradigm where transparency and trust are the default value.

Revolution in financial services
German philosopher Schopenhauer was right in saying that all truth passes through three stages – first, it is ridiculed, then it’s violently opposed until finally it’s accepted as being self-evident. Case in point for Bitcoin.

Back in 2010, when most of the world first heard of Bitcoin much-renowned finance and economy experts were skeptical about the digital currency’s complex mathematical algorithm, dubious origins, and unknown creator.

Fast forward six years, leading banks and financial institutions are pouring millions of dollars investment into research. In the attempt to harness the power of the blockchain, the protocol that enables Bitcoins and other cryptocurrencies, major players such as Santander and JP Morgan gave a tacit acknowledgment to the fact that Bitcoin is valuable.

What is Blockchain Technology? A step-by-step guide than anyone can understandSave

If banks proceed to adopt blockchain-based transactions as well as officially accept bitcoin as a currency, they will be doing humanity a huge favor. Considering current bank transaction times of up to five days not to mention the enormous fees as compared with any cryptocurrency transactional, blockchain payments would be instant and cheaper.

Alternative store of value to fight inflation and economic turmoil
One may argue that Bitcoin as a store of value may even be better than some of the national currencies, especially in countries where the local economy is turbulent as is the case with certain Latin American countries where $1 today may be worth just 50 cents the next day.

Read Next The new Data Economy enabled by the Blockchain
Yes! You Should Care About Bitcoin: Here's WhySave

Another advantage of Bitcoin is it’s built-in deflation mechanism achieved by a hard coded limit of 21 million bitcoins that will ever be in existence. The way our traditional debt-based economic systems work, inflation is almost inherent in the design. In other words, your dollar’s purchasing power today is almost guaranteed to be lower in a year or a decade from now.

On the contrary, bitcoins by design will steadily increase in value as the currency becomes universally adopted until the point when the last bitcoin is issued, a process, which is controlled by a mechanism called halving. Halving ensures that the prize that miners get for each bitcoin they mine is halved on regular intervals before all the bitcoins have been mined which is projected to be around the 7th May 2140.

Despite recent years’ volatility, bitcoin has been relatively stable and increasing in value. From an investment point of view, you may have been safer investing in the digital currency as opposed to more traditional commodities such as silver that in fact lost nearly 40% of its value in the last five years.

Socio-cultural renaissance

My name is Ameer Rosic, and I'm a serial entrepreneur, investor, marketing Strategist and Blockchain Evangelist

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28 Thoughts to “Why is Bitcoin So Important?”

  1. I get people telling me that they wish for cryptocurrency to parish. They are clearly an idiot after the price ramping up on graphics cards. Thank you for explaining this <3

  2. ps the blockchain so huge now your phone can't hold it and is insecure

  3. but you can't MINE it anymore and you have to BUY it with fiat currency and usually change it back so when those early users who are holding millions of coins from when mining was easy 20 coins a day on an old graphics card… it will crash

  4. I have been investing in cryptocurrency for kicks but now I finally get it..

  5. I really like your videos and youve given me the information i need to invest in cryptocurrencies! I have seen in some videos that you recommend us to write our wallet adress? Bitcoin: 1Q7JQZHs8hwuWSBSTy1ucZGNruJUKqkUhJ
    Etherum: 0xdB671F536F13C0aCC0eD613e0A7034fBBEEaf40d

  6. What do u think of one coin??? Scam or good

  7. why doesnt everyone have bitcoin if it's so accessible?

  8. Just starting to learn about bitcoin. Very interesting prospect. Any trusted sites for further information? I need understanding bitcoin for dummy's. Crypto too.. 🙂

  9. This guy is a joke. First off, he has a striking resemblance to quagmire and second, watch his other videos last year about bitcoin. He is just part of the heard. He is a parrot.

  10. I agree, Bitcoin and block chain technology is the future of the internet!

  11. hello boss I want to ask you something . if I purchased $300 of Bitcoin today and let it sit will the commodity grow alone when price skyrockets? is it similar to holding a stock? I purchased physical off eBay

  12. Thanks Ameer, Check this out if this sort of thing interests you:

    BitCoin Laboratory is a wonderful platform offering 3.6% daily on your mining investment. You can withdraw every hour if you choose!!!!!: https://btclab.io/?ref=FreshB

  13. I have an idea is it possible to short bit coin now that the India currency deadline has past?

  14. Bitcoin is not money it is only a ledger or a form of book keeping saying you have a thousand widgets doesn't mean anything and calling book keeping mining is just stupid. A mining operation takes a tremendous amount of energy and a tremendous amount of luck. But coin mining is just paying someone to do book keeping. This whole thing is silly

  15. u mentioned india well the problem here is the banking system is on a cleaning drive trying to bring all the money in the banking system in that process the public are having a hard time.

  16. Great video Ameer. I will be watching more of them. I am rather new to cryptocurrency dealing as an online business owner and marketer. I have become most enthusiastic due to watching videos like this that explain the benefits for consumers and business everywhere. The banks have controlled our money for too long in my opinion and crypto empowers people which the banks and Governments hate. Coming (Jan 2017) is a coin and delivery system for the masses DasCoin. http://www.getdascoins.com

  17. At the moment the main things aren't your life aren't set up to take this currency eg buying a house or a car etc so until the mainstream gets with bit coin surely thats Worthless? I'm eager to learn, please enlighten me

  18. I recently got a coinbase wallet and have bought bitcoin and ethereum. Once your bank card is linked up its pretty easy and straightforward. . my deal is that I'm not massively tech savvy and am concerned about losing my phone or forgetting passwords etc. Also if I get a paper wallet for keeping long term and you add to your bitcoin total after you've printed your wallet, I guess that means you have to keep printing new wallets??? Any feedback much appreciated. . cheers.

  19. You also buy Bitcoin from Bitcoin ATM's!

  20. Very nice! Your video clarifies many new concepts, and more important: it makes us revisit many other old (until now) solidified concepts. Congrats!

  21. Well described. Thanks. I understand the benefits. It is all great. Yet one must understand that it is a new world currency, and it is somehow an entity hosting it. So it is susceptible to fluctuations in value, eventually, even to the smallest degree. I is a correct statement?

  22. Hey Ameer, I'm a 16 year old student and have some money on the bank. I know I can just do whatever I want with the money because I'm still young and don't need to buy my own stuff (thank you parents). But I do try to use my money in a way that I learn skills that will benefit me later. I have subscriptions on Treehouse and Blinkist, I recently also put a couple hundreds in funds to learn a bit about the stock market but what should I do with the money? I hope you can help me because im afraid i will otherwise spend it on a new PC, laptop, motorcycle and other stuff I don't need
    Thank you for the great content

    Maybe it is a good topic for a future video
    A dedicated viewer Beau

  23. I feel like it's just a form of currency not yet controlled.

  24. Andreas antonopoulos look that guy nobody can explain Bitcoin better than him

  25. How are taxes going to work when everybody pays with Bitcoins?

  26. I AM 127 TH VIEWER YES! I HAVE 690000 BIT COINS YAY

  27. Thanks for the video. I'm starting to understand the concept of Bitcoin. I just signed up on Block Geeks hoping to get more info on the what the how of Bitcoin so I can start to use it to cover my as$ financially.

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