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What's the use of bitcoin? Why is anyone willing to fire?
I have never understood why financial products such as Bitcoin rely on money. After all, the gold standard has been bankrupt for many years. Nowadays, the "legal tender" of all countries is based on credit, and Bitcoin is not in this system at all. Bitcoin itself relies on other legal tender currencies, such as the US dollar, and its trading behavior pattern is more like the precious metal index than the foreign exchange market.

To put it bluntly, Bitcoin is artificially created digital gold, but after the collapse of the Brinton Woods system, there is no longer the concept of precious metals. Only gold and other metals, silver and copper have been completely financialized and turned into commodities. Only gold, because of the whole history of human development, has been endowed with another kind of historical credit besides national credit and assumed a unique financial function.

Bitcoin is actually the same niche as gold, but the credit brought by the so-called technical characteristics of Bitcoin can't be compared with gold at all, so it is reflected in the constant large fluctuations of the currency circle. This large fluctuation has greatly weakened the financial function of "gold" as a hedge against market risks. Since then, Bitcoin has completely become a financial game. In essence, no one cares about its technical characteristics and what it is, that is, most people are at a loss after listening to Bitcoin's explanation, because it is all tautology. All people care about is making money in fluctuations.

Therefore, China's attitude towards the "digital currency" represented by Bitcoin was clear from the beginning, and with the development of things, the country became more and more convinced that the original judgment was correct. This thing is a pure financial bubble, blowing bubbles for the sake of blowing bubbles. As for the threat to the digital renminbi, it is purely the currency circle that gives itself face. This time, Musk manipulated the market naked and washed all the underwear in the currency circle. The country also made it very clear that we can't stop a person who wants to die, but we should prevent him from destroying the neighborhood environment with the blood of his neighbors.

From its birth to the present, at least so far, Bitcoin has no use for a country or individual, and has not seen the value of Bitcoin in real life.

Bitcoin is not practical enough, but it is highly speculative. All this is caused by capital. Capital is optimistic about the future of Bitcoin, and the future of Bitcoin is really exciting.

What's the use of bitcoin?

Needless to say, the architecture and technical features of Bitcoin are obvious here. Check online and look at the white paper. Everyone knows that Bitcoin is decentralized, tamper-proof books, and pow mining. The account book is open and a large number of miners around the world participate in it, which basically blocks the possibility of bitcoin double flower, because it is basically impossible to monopolize the global 5 1% mine pool computing power to make fraud.

From a technical point of view, Bitcoin currently has a function of good anonymity and the strongest consensus. It is mainly used for XQ, at least so far.

Why are you willing to speculate on bitcoin?

For speculators, they don't care about the use and value of Bitcoin, but only the price of Bitcoin. The sole purpose of speculators is to obtain the price difference.

In order to get everyone to speculate, the promoters behind Bitcoin have worked hard for ten years, from buying pizza with Bitcoin to settling various extortion incidents with Bitcoin, to the Musk platform, from media promotion, to reaching a consensus with global investors and speculators. This process is quite long and arduous.

When bitcoin becomes a symbol of wealth, it is worth noting that global investors and speculators naturally put money into bitcoin speculation.

1. Because Bitcoin has reached the highest consensus in the world, it is most easily accepted, and it has also become the weather vane of digital currency. Speculation on bitcoin can affect the price trend of other currencies.

Second, in the context of global sovereign currency spamming, the decentralization of Bitcoin is more favored by investors. The circulation of Bitcoin is 265,438+0 million, which is really rare for the global population of 8 billion.

Third, a long food chain behind Bitcoin requires the price of Bitcoin to fluctuate greatly. Hardware food chains such as mining machine manufacturers and graphics card manufacturers, as well as trading platforms and large investment funds all need the rise and fall of Bitcoin to make profits. The contract is the best example.

Fourthly, through the profit and loss of currency speculation, the global recognition of Bitcoin can be strengthened faster, that is, a broader consensus can be reached, which has a good positive impact on the overall promotion of digital currency.

In short, Bitcoin has not played a positive role in the development of society until now, but the blockchain technology represented by Bitcoin has developed rapidly, which may be one of the contributions made by Bitcoin so far.

The speculation of bitcoin is completely speculation, which is speculation after reaching a broad consensus. People's yearning for wealth is eternal, and Bitcoin caters to this mentality of getting rich, which is also the mentality of most speculators.

The advent of Bitcoin is the result of people's hatred of the excessive development of national sovereign currency in commodity economy, intervention in monetary policy and yearning for community consensus monetary autonomy in gift economy. The exchange rate of bitcoin is the reaction of global investors to the ups and downs; Bitcoin's underlying technology blockchain can be applied in all walks of life.

Usually, the original "bitcoin" refers to the bitcoin technology and network it uses, while the original "bitcoin" refers to the currency itself. Bitcoin is also a blockchain payment system and a virtual pricing tool. Because it uses cryptographic technology to control the production and transfer of money, there is no central issuer, so it cannot be distributed at will. Transactions run in the global network and have special confidentiality. In addition, it does not have to go through a third-party financial institution, so it is widely used and becomes a medium of illegal transactions. Users can exchange goods and services directly on the Internet anytime and anywhere by using encrypted wallet software in personal computers and smart phones, without any intermediary agencies such as banks, credit cards and online payment companies. According to the research of Cambridge University 20 17, there are as many as 5.8 million active users of encrypted wallets in the world, most of whom use bitcoin. At the same time, some people believe that bitcoin technology has been widely recognized and used, which ushered in the blockchain era.

As a bookkeeping system, Bitcoin does not rely on central institutions to issue new currencies and maintain transactions, but is completed by blockchain. It uses digital encryption algorithm and the whole network to resist the attack of 5 1% computing power and ensure the security of assets and transactions. Transaction records are collected and maintained by all network computers, and the validity of each transaction must be verified by blockchain.

As a unit of account, the smallest unit of bitcoin is 0.0000000 1 (billion) bitcoin, which is called "1 cong". If necessary, the protocol can be modified and divided into smaller units to ensure its convenient circulation. For every output of 265,438+00,000 yuan, the block income will be halved once, and the cycle will be about 4 years. The latest halving will be at 438+02 on May 65, 2020, and the sum of this convergence to geometric series is bound to be limited. By 2 140, no new bitcoin will be generated. 20 19, 12, the total stock of bitcoin is about17,695, 5 12, and the actual circulation amount will be further reduced due to the loss of private keys and other factors.

As a new "currency", is Bitcoin real gold or a bubble? Can it really play a circulating role in future business transactions? The concept of Bitcoin was born in 2008, which is an electronic currency generated by a specific algorithm on the Internet. The total amount of this virtual currency is limited, and the total amount is only 2 1 10,000. Its ownership and circulation transactions are anonymous, and its security is guaranteed by the design of cryptography. Since the total amount of bitcoin has a fixed upper limit and cannot be broken, there is no possibility of currency overshoot.

It is this demand for value preservation and investment that makes people start to pursue Bitcoin. With the global stock market generally depressed, the property market bubble looming, and the price of gold and silver falling, the once-soaring bitcoin has attracted enough attention. There are only two ways to get bitcoin. One way is to rely on a large computer to "calculate" it, which netizens commonly call "mining". At present, 500 supercomputers around the world have invested in bitcoin "mining". The less bitcoin is left, the harder it is to "mine", and the other is bought from "miners".

Bitcoin, like paper money, has no value in itself, and its purchasing power comes from people's confidence in Bitcoin, a brand-new currency concept. However, there is no issuing country for Bitcoin, no country guarantees it with its own authority and reputation, no country enforces the use of Bitcoin for circulation and payment, and few countries recognize its currency status, so the purchasing power of Bitcoin lacks support. In other words, Bitcoin is not controlled by any country or government, which is both the difference of virtual currency and the source of its hidden dangers.

At this stage, Bitcoin, a virtual currency circulating around the world through the Internet, has no corresponding regulatory laws, which also lays a security risk for the future of Bitcoin. At present, there have been many bitcoin security cases around the world. Once there is a loophole in the system of bitcoin generated based on the network, the consequences for investors are unimaginable. In addition, the total number of bitcoin peaks is only 2 1 10,000, and the capacity of the "plate" is limited. Its currency value and circulation are easily controlled by big bookmakers, and such manipulation will be difficult to detect and supervise because there is no law to follow.

In fact, after the advent of Bitcoin, various virtual electronic currencies emerged one after another. Now there are more than 80 virtual currencies in circulation around the world. However, no country guarantees any of them with its own reputation. When there are more and more such virtual currencies, the "original aura" of Bitcoin will also fade, and it is self-evident that Bitcoin can be valuable at that time.

However, Bitcoin still has a lot to learn from the existing monetary system. People believe in Bitcoin because the total amount of Bitcoin is limited and there is no possibility of inflation. People are crazy about speculating bitcoin for the same reason as gold, because they will not be "overshooted". At a time when the major economies in the world have started printing money to stimulate the economy, no country or government can create gold by itself, and no bank can create bitcoin by itself.

To make a long story short, roar. Too speculative.

Because it's profitable [covering your face] [covering your face]

The only function of Bitcoin is speculation. People die for money, birds die for food. It is the dream of many people to get something for nothing and get something for nothing. There are many people who speculate on bitcoin. There are also some criminals who choose Bitcoin in order to transfer assets, which seems to be risky. But for them, because the source of huge amounts of property is illegal, trading bitcoin loses 80%, and they will think that those are not their own. Although these people are not many, their capital is huge. So bitcoin has a certain market.

Bitcoin is more useful than stocks, because it is the only thing that consumes a lot of energy and has its own value. It is much better than stocks harvesting shareholders and then delisting for nothing. Why do people speculate? That's the same as real estate speculation, stock speculation, futures speculation, gold speculation and so on. You miss the money in his pocket and he cares about the money in your pocket. Play silly games!

Bitcoin is useful for many high-sounding reasons. In fact, to put it bluntly, Bitcoin is what people use to break through the foreign exchange blockade. Simply put, it is to transfer funds.

Because bitcoin is not regulated, as long as money enters bitcoin, then the whole world can realize money! There are also many legal or illegal demands, especially now that the country prints a lot of money and the currency is too rampant, which leads to the enlarged use of Bitcoin's function of "transferring funds".

So the whole world is speculating on Bitcoin.

Bitcoin can be used to buy some goods directly. For example, Tesla cars can be bought directly with bitcoin.