The time axis could be numbered any way, but it behaves differently from the space dimensions; there is a sign difference between them. You can set up your math so that when multiplying vectors the space component products pick up a negative sign, or you could set it up so the negative sign went with the time components. This is called the signature, in the first case it would be (+---) and in the second case it would be (-+++). This assumes the time coordinate is numbered first; you could have given it any number but since it has this different behavior it's conventient to put it in first position.
Here's an example, suppose you have two spacetime vectors (a0,a1,a2,a3) and (b0,b1,b2,b3) and you take their inner product, using the signature (-+++). The inner product is the product of corresponding component pairs, added up, giving a negative sign to the product of the 0-components (by convention that's time). So -a0b0 + a1b1 + a2b2 + a3b3.
This formula for the inner product, with the time products having different signs than space products, is necessary to support the physics of relativity.
A more specific example, suppose you measure the momentum, p, the mass, m, and the energy e of some particle. Then there is a realtivistic vector, the energy-momentum four-vector, that has these components: (e,cp1,cp2.cp3) and its magnitude is known to be mc^2. If you take the inner product of the vector with itself, you get the square of its magnitude. So,
-e^2 + c^2p1^2 + c^2p2^2 + c^2p3^2 = m^2c^4, or e^2 + c^2|p|^2 = m^2c^4. And because this is true for general components, it's true for all observers. Different observers will measure different values for p and e, but the equation will always be true because it's just an identity.
Rearranging the terms we get the covariant law of energy e^2 = c^2p^2 _ m^2c^4.