Who says bitcoin will replace the existing currency in five year

1.

According to analysts at Goldman Sachs, bitcoin can become a legal and widespread form of currency, but it is mainly possible in theory

Analysts believe that the reality is that cryptocurrency still has a very high threshold in most places. First, the government cannot track who is buying or selling bitcoin. And as we all know, the price of cryptocurrency is very vulnerable to large fluctuations. This volatility is very rare in legal tender, so bitcoin is not suitable to be a reserve currency

2. Bitcoin has been experiencing a lot of volatility, which worries traders and investors. But according to market experts, it's just a matter of time before bitcoin reappears. Bitcoin is still the only cryptocurrency that has received worldwide attention, recognition and adoption. It has been accepted by organizations and payment gateways around the world, and even new milestones are being achieved. For example, bitcoin's hash rate has reached a record high of 6.2 billion trillion< Let's take a look at the famous bitcoin forecast:
1 Tom Lee bitcoin price forecast
former chief stock strategist JP Morgan, co-founder and research director of fundstrat Tom Lee believes that the break even cost of mining a BTC is directly related to the price of cryptocurrency. He believes that BTC will grow as he expects more institutional investors to adopt bitcoin and the user base of bitcoin to grow steadily. In a recent interview, he said that bitcoin could bring 100% return to investors in 2020 after the expected halving of bitcoin in May 2020
2 Fran strajnar bitcoin price forecast
Fran strajnar put forward a very optimistic forecast that BTC may reach US $200000 by January 2020. He believes that the adoption rate is directly proportional to the price rise. The higher the adoption rate, the more the value increases<
3 bby Lee bitcoin price forecast
Bob Lee, CEO of BTCC, China's first exchange, once said that bitcoin will take 20 years to reach $1 million. Now his prediction has completely changed. Bob Lee, the co-founder of BTCC (Hong Kong bitcoin exchange), and Charlie Lee, the brother of lightcoin, gave extremely optimistic predictions, but they began to be bearish. He claimed that bitcoin could start to recover from the end of 2020, reach $333000 by 2021, and then drop to $41000 by 2023. He repeatedly pointed out that the market capital may reach $7 trillion, which may exceed the market value of gold. He even mentioned that bitcoin will lead to price stability and global liquidity in the next few years
4 John McAfee bitcoin price forecast
John McAfee has always been one of the stagnant bitcoin enthusiasts, and he puts forward his own forecast from time to time. He has recently become more optimistic than ever, saying that bitcoin could reach $1 million by 2020. Other bitcoins such as Apollo and MTC are likely to rise 10 times as much as BTC enthusiasts. He recently said that his past forecast of $1 million for bitcoin was just a trick
McAfee predicts that 10 years from now, "there will be no legal tender in the world, everything will become cryptocurrency."< 5 Tim Draper bitcoin price forecast
Tim Draper is one of the famous venture capitalists. He predicts that bitcoin will occupy 5% of the money market by 2023. He is optimistic that the price of bitcoin could rise by $250000 by 2023
our forecast:
2020 bitcoin price forecast: will bitcoin rise
bitcoin has been doing well, and recently it has started a bull market. This shocked the market. Now, traders and investors are in a state where they are trying to make the most of the bull market. The more transactions, the higher the price. In addition, we know that bitcoin is scarce in circulation, that is, only 21 million bitcoins can be mined, of which 17 million have been mined, which means that only 4 million will be mined, which will make it more valuable
in addition, some countries such as the United States, Japan and South Korea have shown great willingness to integrate bitcoin and other cryptocurrencies into their financial systems by establishing a regulated market that can operate freely and safely. By the end of 2020, the price of bitcoin will reach $23499
bitcoin price forecast 2022
by 2022, bitcoin may have an unexpected growth, and the adoption rate will increase by two times. Bitcoin may be accepted as the most feasible payment system by the public all over the world, and there is no trouble. In any case, bitcoin is not out of reach until it becomes the sweet spot of legal tender, and most developed countries are likely to see changes faster than other currencies. By 2022, given steady progress, bitcoin could reach $32000
bitcoin price forecast 2025
bitcoin price forecast shows that through five years of investment, bitcoin price will maintain 385.450281% of BTC price value for a long time. This means that in 2025, the price of bitcoin is expected to reach $50044.6 Bitcoin's future forecast)
bitcoin may reach the $50000 mark in 2025, which may push the encryption market to a completely different height. According to the prediction and analysis, bitcoin is ranked first without any competitors. Graally, bitcoin is likely to be seen more as a store of value, as well as an alternative currency. There are some bitcoin price forecasting tools that can help experts get the data. As encryption enthusiasts like John McAfee predicted, legal tender could be replaced by bitcoin
by 2025, bitcoin may be used more frequently by more people, that is, real-time use cases will increase, which will make it more powerful.

3.

Many people think that the reason why bitcoin is valuable is because it is "rare", and if bitcoin is no longer "rare", then it will not have value

this is a misunderstanding. Let's consider a question: what is the essence of all "currencies"

the answer is trust. The biggest reason for the value of the dollar is because of the credibility established for the dollar under the Bretton Woods Agreement, rather than the so-called equivalent exchange with gold (although others say so). The main reason why RMB is valuable is because of the trust system of RMB in China and neighboring countries, rather than the exchange with us dollar reserves (see offshore RMB). This can explain why the currencies of some countries (such as the ruble of Russia, as well as the Zimbabwean currency as you all know) have been greatly devalued, because the government and the current world situation have led to a trust system that does not support the existence of this currency. The so-called economic sanctions and currency speculation are very superficial and superficial reasons

the essence of money is trust

What about bitcoin

bitcoin has no centralized Trust Measurement institution. The value of bitcoin, namely its "credit system", comes from distrust of centralized units. Every country finds that seigniorage is too easy to collect, which leads to the increasingly poor trust between countries. Even the people of all countries do not trust the national currency

and trust, like quality, is conserved. Trust in centralized money decreases, while trust in decentralized money increases naturally

this is the essential reason why the value of bitcoin continues to rise. Therefore, for digital currencies such as bitcoin, there are only two outcomes. Either countries want to understand that they will no longer issue excess currencies, issue additional currencies in a scientific and reasonable way, unify stable exchange rates, and maintain the credit system of centralized currencies, then the value of bitcoin will be infinitely close to zero. Or countries will continue to drink water to quench their thirst, and more frantically use the method of issuing excess currency to collect seigniorage from everyone, then the trust in the centralized currency will be lower and lower, and the total value of bitcoin, a decentralized currency, will be infinitely close to the gross labor value of all the units that do not trust the government and other governments, but need international trade

either the price is crazy or it's worthless

after understanding these, we can answer this question. Will bitcoin be replaced by other digital currencies

swindlers like * * and even the old Wang next door can come and yell, "I spent 10 minutes to change bitcoin's core and create a new digital currency called SBC. Come and join my ICO and pay me seigniorage ~". So, if this happens, will you immediately choose to use Lao Wang's SBC next door

the answer is that some speculators will participate, but the market will not. The reason is very simple, the new cryptocurrency has not been recognized by the market, the application has not been proced, this kind of currency has no way to exchange for means of proction. Then this kind of currency is not money, but a virtual commodity for speculation. In other words, even if old Wang ICO next door has an SBC, no one will choose this kind of currency except those speculators who have no brains

in the current market, there are many other digital currencies, such as Ethereum, EOS, XRP, and so on, which may have technological advantages in some aspects (in fact, BTC has been evolving, and it will also learn from the advanced technologies of other digital currencies that have been successfully proved by the market. LTC and other currencies can be said to be the experimental currencies of BTC's advanced technologies.), There may be more application scenarios than BTC in the future, but they are not likely to challenge the status of BTC. BTC will always be the first consensus in the currency circle, which is the belief of many people. BTC will exist for a long time as the gold in the currency market, not mainly for the circulation of digital currency

4. Bitcoin and lightcoin will recover in one month. In this month, the major bitcoin trading platforms in China will formulate an instry rule, which is also a last resort under the pressure of the central bank's anti money laundering. On the one hand, the central bank is to cool bitcoin; on the other hand, it is to fight money laundering and prevent bitcoin from disturbing the normal financial order. The blow to bitcoin has also affected other digital currencies. The trading volume of doggy coin, Puyin and Ruibo coin also decreased.

5.

Since Qin Shihuang unified currency, currency has become an unattainable thing in our life. In ancient times, we all exchanged things for things, and finally developed to use today's currency, which makes our life much more convenient. However, in addition to our commonly used currency, some people must have heard of bitcoin as a virtual currency, And this kind of currency is very precious, not everyone has it, but there is a person in China who has 100000 bitcoins in his hand

all this is e to his unique vision at that time. If 100000 bitcoins were converted into RMB now, it would be 5 billion. At that time, no one thought that a virtual currency might have such value. What's your opinion

6. How can it be? Bitcoin has no support

7. Permission. But the bitcoin market is too volatile. It's too difficult and too slow to dig by yourself. It's too risky to buy others

8. Ors system is the abbreviation of online retail solution online mall system. It is a set of e-commerce solution integrating proct management, logistics management, payment management, customer relationship management, after-sales management, financial management, market management and online store system. It realizes the whole process information management of online retail.