The technical achievement of Bitcoin is solving the double spend problem, allowing for peer-to-peer digital transactions – something never before possible.

There are a number of reasons why some people believe that cryptocurrency is needed. These include:

  1. Increased financial inclusion: Cryptocurrency allows people to send and receive payments without the need for a bank account or credit card. This can be particularly beneficial for people in developing countries who may not have access to traditional financial services.
  2. Lower transaction fees: Cryptocurrency transactions often have lower fees than traditional financial transactions, such as credit card payments or wire transfers.
  3. Faster transaction times: Cryptocurrency transactions can be processed more quickly than traditional financial transactions, which can be particularly beneficial for cross-border payments.
  4. Decentralization: Cryptocurrency is decentralized, meaning that it is not controlled by any single entity, such as a government or a central bank. This can make it less susceptible to interference or manipulation by third parties.

It is important to note that these are just a few of the potential benefits of cryptocurrency, and different people may have different opinions on whether it is needed or valuable.