I like to think of Bitcoin as Gold 2.0. There is nothing wrong with gold. In fact, I still think it will always be relevant and important since it always has, and history likes to step on its own toes sometimes.
As I consider Bitcoin something along the lines of next-gen gold, I think it will become one of the most predominant means of wealth storage. We are in a computerized society made up of 1’s and 0’s, so why shouldn’t our wealth be stored in a similar manner?
Another important factor to consider when talking Bitcoin is a that it is decentralized money. There is no Bitcoin building like there is a federal reserve building. Bitcoin does not have employees or regulations by the government. It is a blockchain device regulated and maintained, as well as valuated by the public. It is available to anyone at any time and can be sent to anyone at any time. It is a product of the world’s computer, not of any federal government.
I bolded the word blockchain in the previous paragraph because this is the part that has the most to do with changing the world. Cash is being replaced by credit cards. I believe Credit cards will be replaced by blockchain devices in the (not so distant) future. Several big banks and other notable companies are building blockchain applications as a means of transaction as well. It is peer-to-peer with no middle man, thus having reduced costs. Bitcoin, as well as other blockchain devices (most notably Ethereum) are changing the world because they are changing our system of money, how we handle it, and how it is censored.
In short, Bitcoin, as well as other block-chains, are becoming a new system to hold, transfer, and accumulate wealth without restrictions from centralized government. The money is back in the hands of the people. Determining whether this is a good or bad thing is up to each individual.
