The future of bitcoin model in China
Publish: 2021-03-23 20:15:03
1. bitcoin is different from the previous currency, it completely relies on the Internet to create and trade; Bitcoin's unique technical attributes lead to its economic and cultural attributes beyond the present currency. Bitcoin is a kind of electronic currency proced by open-source P2P software. Compared with the paper currency in circulation, the biggest feature of bitcoin is decentralization and global circulation in the network world, followed by high security and high confidentiality. These technical attributes further extend to the economic attributes of no inflation, no freezing, and no man-made supply; In terms of culture, bitcoin is popular among anarchists and liberals. The advantages of bitcoin are artificially exaggerated, and its anti inflation and anti inflation functions cannot stand up to scrutiny. In the long run, the prospect of bit is hard to match that of gold. In the most optimistic case, it will become a means of payment in some areas; But in the short and medium term, bit still has room for speculation and imagination. In addition, the use of bitcoin in some sensitive areas highlights the increasingly prominent role of information in national security
1. The advantages of bitcoin are exaggerated: About decentralization, no transaction costs and anti inflation
it is true that bitcoin has various advantages over paper money, but these advantages have been over interpreted. First of all, bitcoin is a kind of decentralized currency, which will not have the same risk of central bank controlling money supply and affecting market value as paper money; Bitcoin is mainly held in the hands of large investors, and the market depth is not enough. At present, the trading behavior of large investors is also very easy to affect the price of bitcoin. Even if the attribute of decentralization is regarded as the advantage of bitcoin when it is fully mature, then the prerequisite of holding decentralization should be added. In addition, there are great differences between centralized and decentralized online payment systems in the degree and type of financial risks they are exposed to
secondly, the low transaction cost of bitcoin is not without transaction cost. On the contrary, e to the increasing difficulty of bitcoin mining and the further stability of currency value, the dependence of relevant transaction platforms on transaction cost will increase, which will certainly increase the transaction cost. Finally, the confidentiality of the bitcoin transaction needs to be discussed. The principle of the bitcoin transaction makes all the processes of each bitcoin transaction stored in each machine. If someone can determine the real background of a transaction, they can find all the transactions down and up through these data
compared with other advantages, anti inflation or anti inflation is the most publicized advantage. Although its supply is stable and the upper limit of supply is locked according to its algorithm, unless the whole world is unified and all countries use bits as currency, it can not prevent the over issuance of money only as a means of payment or a storage of value, just as the current existence of gold can not constrain the growth of each country's currency. If bits can only be used as a means of payment in local areas (such as the network), then global or some countries' inflation will still be transmitted to the areas where bits are used. Therefore, the use of bits to prevent inflation is basically untenable, or has a strong premise. As for anti inflation, that is to say, it has the function of value storage, it needs to have the property similar to gold. However, from the reality, bit's essential property and prospect are still hard to match gold. See below for details
2. Bitcoin's future positioning is too high
the expectation of bitcoin's future in the market generally compares it with gold and US dollar, which is relatively high. The recognition of gold not only lies in its natural physical properties, but also in its official acceptance as a reserve currency (or an important allocation of foreign exchange assets). In theory, bitcoin as an electronic currency does not have the unique and exclusive status, and it is more difficult to become the official reserve of central banks like gold. Therefore, it is not appropriate to expect too much bit. As an electronic currency, bit has the first mover advantage. If it can be guaranteed in terms of security, its most optimistic prospect will be as a means of payment in local areas
3. Speculation and speculative demand caused by event factors are the main reasons for the rise of bitcoin in this round
under the credit currency system, people's lack of confidence in the currencies of various countries and pessimistic economic prospects are the general environment for the rise of bitcoin in this round. The speculation of the major dealers in the market and the derivatives market of bitcoin, together with the speculative psychology of the participants, further accelerated its rise. Btcchina's investment of US $5 million and the announcement of Ben's position are the main driving factors for the recent surge
however, a lot of big players start to enter the market and buy a lot, which not only drives the bit price up to a high level, but also increases the market risk. Chamath, a former Facebook executive, has spent $5 million on bitcoin and plans to spend another $10 million. Bitcoin investment trust also exceeded its target within four weeks, raising $15 million. These people's investments not only make bitcoin further rise, but also concentrate on the holding of bitcoin, which strengthens the influence of indivials and institutions on the price of bitcoin and increases the market risk
4. There is still strong room for speculation in the medium and short term
although our previous analysis is not optimistic about the prospect of bit, it is likely that bit will still have strong room for speculation in such a short and medium term period of time as one year. As mentioned in the previous analysis, the creators of bitcoin advocate that the generation of bitcoin is not manipulated by human factors, which is quite different from the credit currencies of various countries. We expect that the monetary policies of major countries will be divided next year. With the release of economic risks and the heavy damage to traditional asset markets, bitcoin will have better room for speculation and imagination< The use of bitcoin in some sensitive areas highlights the increasingly prominent role of information in national security
the U.S. government seized the drug trading website "Silk Road" at the beginning of last month. A crowdfunding network called "assassination market" even marked the sale of murderers with bitcoin price. The founder of the assassin market, under the pseudonym of kuwabatake Sanjuro, is an extreme anarchist. Both prism gate incident and the use of bitcoin in relevant sensitive fields highlight the increasingly prominent position of information field in national security. The Third Plenary Session proposed the establishment of the national security committee, which will play an important role in China's security strategy and expand from traditional national defense, stability maintenance / urban security to information security and other emerging areas
1. The advantages of bitcoin are exaggerated: About decentralization, no transaction costs and anti inflation
it is true that bitcoin has various advantages over paper money, but these advantages have been over interpreted. First of all, bitcoin is a kind of decentralized currency, which will not have the same risk of central bank controlling money supply and affecting market value as paper money; Bitcoin is mainly held in the hands of large investors, and the market depth is not enough. At present, the trading behavior of large investors is also very easy to affect the price of bitcoin. Even if the attribute of decentralization is regarded as the advantage of bitcoin when it is fully mature, then the prerequisite of holding decentralization should be added. In addition, there are great differences between centralized and decentralized online payment systems in the degree and type of financial risks they are exposed to
secondly, the low transaction cost of bitcoin is not without transaction cost. On the contrary, e to the increasing difficulty of bitcoin mining and the further stability of currency value, the dependence of relevant transaction platforms on transaction cost will increase, which will certainly increase the transaction cost. Finally, the confidentiality of the bitcoin transaction needs to be discussed. The principle of the bitcoin transaction makes all the processes of each bitcoin transaction stored in each machine. If someone can determine the real background of a transaction, they can find all the transactions down and up through these data
compared with other advantages, anti inflation or anti inflation is the most publicized advantage. Although its supply is stable and the upper limit of supply is locked according to its algorithm, unless the whole world is unified and all countries use bits as currency, it can not prevent the over issuance of money only as a means of payment or a storage of value, just as the current existence of gold can not constrain the growth of each country's currency. If bits can only be used as a means of payment in local areas (such as the network), then global or some countries' inflation will still be transmitted to the areas where bits are used. Therefore, the use of bits to prevent inflation is basically untenable, or has a strong premise. As for anti inflation, that is to say, it has the function of value storage, it needs to have the property similar to gold. However, from the reality, bit's essential property and prospect are still hard to match gold. See below for details
2. Bitcoin's future positioning is too high
the expectation of bitcoin's future in the market generally compares it with gold and US dollar, which is relatively high. The recognition of gold not only lies in its natural physical properties, but also in its official acceptance as a reserve currency (or an important allocation of foreign exchange assets). In theory, bitcoin as an electronic currency does not have the unique and exclusive status, and it is more difficult to become the official reserve of central banks like gold. Therefore, it is not appropriate to expect too much bit. As an electronic currency, bit has the first mover advantage. If it can be guaranteed in terms of security, its most optimistic prospect will be as a means of payment in local areas
3. Speculation and speculative demand caused by event factors are the main reasons for the rise of bitcoin in this round
under the credit currency system, people's lack of confidence in the currencies of various countries and pessimistic economic prospects are the general environment for the rise of bitcoin in this round. The speculation of the major dealers in the market and the derivatives market of bitcoin, together with the speculative psychology of the participants, further accelerated its rise. Btcchina's investment of US $5 million and the announcement of Ben's position are the main driving factors for the recent surge
however, a lot of big players start to enter the market and buy a lot, which not only drives the bit price up to a high level, but also increases the market risk. Chamath, a former Facebook executive, has spent $5 million on bitcoin and plans to spend another $10 million. Bitcoin investment trust also exceeded its target within four weeks, raising $15 million. These people's investments not only make bitcoin further rise, but also concentrate on the holding of bitcoin, which strengthens the influence of indivials and institutions on the price of bitcoin and increases the market risk
4. There is still strong room for speculation in the medium and short term
although our previous analysis is not optimistic about the prospect of bit, it is likely that bit will still have strong room for speculation in such a short and medium term period of time as one year. As mentioned in the previous analysis, the creators of bitcoin advocate that the generation of bitcoin is not manipulated by human factors, which is quite different from the credit currencies of various countries. We expect that the monetary policies of major countries will be divided next year. With the release of economic risks and the heavy damage to traditional asset markets, bitcoin will have better room for speculation and imagination< The use of bitcoin in some sensitive areas highlights the increasingly prominent role of information in national security
the U.S. government seized the drug trading website "Silk Road" at the beginning of last month. A crowdfunding network called "assassination market" even marked the sale of murderers with bitcoin price. The founder of the assassin market, under the pseudonym of kuwabatake Sanjuro, is an extreme anarchist. Both prism gate incident and the use of bitcoin in relevant sensitive fields highlight the increasingly prominent position of information field in national security. The Third Plenary Session proposed the establishment of the national security committee, which will play an important role in China's security strategy and expand from traditional national defense, stability maintenance / urban security to information security and other emerging areas
2. Bitcoin is an encrypted digital currency based on blockchain. Due to the characteristics of distributed database, it has the characteristics of anonymity, tax exemption and supervision free. The characteristic of distributed database is a safe and open digital account book. At the same time, it has collection value because of limited quantity, which is similar to antiques. The better the development of science and technology in the future, the higher the value will be. Because it reflects the future value of blockchain.
3. It's the trend of development. There's something wrong with bitcoin. It's in the news. Check the news yesterday.
4. Uncontrolled virtual currency is intolerable to any sovereign state
blockchain is a good thing, but it must run in a controlled environment
bitcoin will die sooner or later.
blockchain is a good thing, but it must run in a controlled environment
bitcoin will die sooner or later.
5. Fourth, do not choose the US dollar transaction, because the offshore exchange rate is lower than the domestic exchange rate, so that the entry of principal is the loss of exchange rate, and happy binary option is RMB transaction
6. The development of bitcoin in China is relatively good, with a particularly strong momentum.
7. Bitcoin is a decentralized point-to-point e-cash system. It has been more than 10 years since its birth. The price of bitcoin now hovers around $10000. Many people think that the price is too high and it is not cost-effective to buy it now. But in fact, even though bitcoin has been around for 10 years, it is still like a fetus in the womb, and a lot of people do not know the existence of bitcoin
bitcoin has not yet grown into a baby, and there is still huge room for growth. Its prospects are broad. In the next decade, let's look at the height of bitcoin. More and more people will know about bitcoin. Everyone needs bitcoin, and the demand for bitcoin transactions will be extremely strong.
bitcoin has not yet grown into a baby, and there is still huge room for growth. Its prospects are broad. In the next decade, let's look at the height of bitcoin. More and more people will know about bitcoin. Everyone needs bitcoin, and the demand for bitcoin transactions will be extremely strong.
8. Bitcoin is a kind of financial innovation. Its existence must have its rationality. It also solves some shortcomings of the existing currency, such as the excessive issuance of currency, higher payment service fees, more convenient payment, no geographical restrictions, global circulation, and acting as the function of world currency. But the good thing also has its bad side, for example, the domestic frenzy of speculation has led to its soaring price, and the bitcoin price bubble has become more and more intense.
as for whether bitcoin can develop in China, it depends on whether foreign bitcoin can develop better. If foreign bitcoin can continue to exist and develop rapidly, then bitcoin will usher in the second spring in China. Chinese style is a conservative country, China likes to use the doctrine, does not like to innovate
I believe that bitcoin is a better means of payment and may become a supplement to the existing currency
of course, the growing popularity of the mining instry has also boosted the soaring price of bitcoin to a certain extent. From Avalon 1 to Avalon 3, and the emergence of other ASIC mining machines, the computing power of the whole network has been continuously boosted. It is said that Avalon's 28nm and 16nm chips will also be put into the market in the future, when mining will be more difficult, The price of bitcoin is also expected to rise.
as for whether bitcoin can develop in China, it depends on whether foreign bitcoin can develop better. If foreign bitcoin can continue to exist and develop rapidly, then bitcoin will usher in the second spring in China. Chinese style is a conservative country, China likes to use the doctrine, does not like to innovate
I believe that bitcoin is a better means of payment and may become a supplement to the existing currency
of course, the growing popularity of the mining instry has also boosted the soaring price of bitcoin to a certain extent. From Avalon 1 to Avalon 3, and the emergence of other ASIC mining machines, the computing power of the whole network has been continuously boosted. It is said that Avalon's 28nm and 16nm chips will also be put into the market in the future, when mining will be more difficult, The price of bitcoin is also expected to rise.
9. Personal point of view: I think bitcoin is just like the original understanding of stocks. I don't know much about bitcoin. But its essence is unchanged, that is, lazy people rely on it to make speculative investment to hype a virtual thing. Some people exchange RMB for bitcoin on various bitcoin trading platforms, and naturally others exchange RMB. But at present, most of them are using the leverage of GBL to hype bitcoin, so as to obtain the maximum profit, In fact, this kind of virtual goods trading is empty handed. Please remember, as long as there is output, there must be input. If you lose money, naturally someone will make money, which is the same as stock speculation.
10. No, but bitcoin is not as hot as it used to be. Bitcoin has been on the decline since 12.5 at the end of 2013. During this period, some bullshit happened. Mentougou, the world's largest bitcoin trading platform, has stolen 600000 bitcoins. The U.S. government has auctioned bitcoins obtained from the Silk Road for many times. Although bitcoin gained more attention and recognition in 2014, the scale and scope of financing have increased geometrically, However, there was no killer application of bitcoin in 2014, and the price of bitcoin continued to fall, once falling below the 1000 yuan mark
since 2015, the price of bitcoin has been even worse. First of all, one of the world's largest bitcoin trading platforms has stolen $5 million worth of bitcoin from stamps. During the Spring Festival, biter, a well-known bitcoin company in China, and its piggy bank have been stolen, totaling more than 10000 coins. China's bitcoin circle is shrouded in a black cloud. The security of bitcoin has once again aroused everyone's attention. The confidence of bitcoin is also disappearing, and some big V's in bitcoin circle are also turning back
may 2015 be a turning point for bitcoin, or death or fire? Bitcoin has more analysis articles.
since 2015, the price of bitcoin has been even worse. First of all, one of the world's largest bitcoin trading platforms has stolen $5 million worth of bitcoin from stamps. During the Spring Festival, biter, a well-known bitcoin company in China, and its piggy bank have been stolen, totaling more than 10000 coins. China's bitcoin circle is shrouded in a black cloud. The security of bitcoin has once again aroused everyone's attention. The confidence of bitcoin is also disappearing, and some big V's in bitcoin circle are also turning back
may 2015 be a turning point for bitcoin, or death or fire? Bitcoin has more analysis articles.
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