Total market value of global blockchain
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non trumpets is shown in the figure, which changes every day
Bitcoin prices hit a new high. Bitcoin broke the $50000 mark on the 16th and hit $51000 on the 17th, according to data from coindesk. As of 7 a.m. Beijing time, the price of bitcoin rose 7.4% to $56055.74
at this latest price, the total market value of bitcoin is about $1.04 trillion. This number is second only to Google, which has a market value of $1.4 trillion, and higher than Tesla, which has a market value of $750 billion, ranking fifth in US stocks. Based on the closing price of Guizhou Maotai on February 19, the total market value of bitcoin is 2.17 times that of Maotai
the value of bitcoin will grow by more than 415 billion US dollars in 2021, reaching more than 1 trillion US dollars. In the past six months, bitcoin prices have risen by about 350%. Market participants said that recently, some institutions and large companies said they would enter the field of digital currency, which pushed up the price of bitcoin. Changes in the flow of speculative funds benefiting from the early stage in the future and the attitude of regulators may have an impact on its trend. At the same time, it makes more cryptocurrencies known, but the value of most cryptocurrencies, especially bitcoin, fluctuates every day. Although virtual currency is designed to promote safer transactions, it is not difficult to see that its value is becoming more and more speculative through the recent price fluctuation of bitcoin. Some encryption investors become millionaires overnight, but they may lose most of their wealth in a few weeks. It also shows the huge and unreliable nature of bitcoin, especially the goods and services as a currency
Of course, there are many other factors in addition to the above two main reasons. For example, in the past two years, new currency issuance has been stopped by many countries. After the outbreak of digital currency market in 2017, a large number of new digital currencies appeared in the market. However, the issuance of new currency usually carries a high risk, and there are many fraulent behaviors in the market, so the issuance of new currency is stopped by various countries. The ban on the issuance of new currency has hindered the development of digital currency, but it has further boosted the flames and stabilized the investment value of bitcoinpotential problems and risks faced by bitcoin
technological innovation: first of all, the challenge bitcoin will face is technological innovation. The decentralized design of bitcoin not only refreshes us, but also limits the development of bitcoin. Every upgrade of bitcoin protocol needs to reach a consensus with each node on the network, but everyone has different views on bitcoin, and consensus is often difficult to achieve. This problem leads to the bifurcations of bitcoin and the slow development of bitcoin protocol itself. At the same time, with the development of science and technology, the implementation and application of quantum computing will also break the security model built by bitcoin based on the overall computing power of all nodes in the network, which may theoretically achieve 51% computing power attack. So far, this problem has not been solved. In other words, bitcoin may suddenly become less secure after the advent of quantum computing technology. In addition, e to the consensus mechanism of bitcoin, power consumption and hardware requirements are also increasing. So far, these problems have not been completely solved
the issue of central bank's digital currency: in addition to some problems of bitcoin itself, bitcoin will also face the challenges of central bank's digital currency in the future. Part of the value of bitcoin lies in the application of its blockchain, and the transaction mode of blockchain is also a major direction for the development of banks in the future. Applying the same technology, the central bank can better examine economic activities and carry out macro-control, which may be more concive to economic development. At the same time, we are not sure whether the digital currency issued with national credit will be easier to implement and get better development. However, when central banks make similar attempts, they are bound to compete with bitcoin to a certain extent
the foundation and early development of bitcoin are based on people's desire to build a fairer monetary system. But with the financialization of bitcoin and the admission of institutional investors, we suddenly found that a large number of bitcoin has been in the hands of financial giants. Bitcoin as cryptocurrency, its transactions have been outside the supervision, there is no legal requirement for institutional investors to disclose the large amount of transactions of bitcoin to ensure the fairness of the market, which also provides a lot of space for institutional investors to manipulate the market. Retail investors enter the market with a good vision of digital currency, but in the end, they become the target of big predators. After harvest after harvest, more capital is in the hands of financial giants