cool hit counter What to make of Bitcoin?_Intefrankly

What to make of Bitcoin?


Bitcoin is the original creative use of blockchain technology. Ten years in the making, Bitcoin has basically reached a global consensus. The other day, Mr. Microsoft Bill Gates made a public comment:If there was an effective way to short Bitcoin, I would like to short Bitcoin.

Bitcoin's past

Bitcoin, designed to mimic the properties of gold, and the power of time accumulation, has naturally become the coin king of the cryptocurrency market, the gold of digital assets.

There are many positive aspects of Bitcoin's past developments.

1. Bitcoin can be considered as an unprecedented financial innovation product that has developed a multi-party consensus mechanism. Traditional economics, which is a binary analysis of producers and consumers, can also be seen as a triadic analysis of production, consumption and market policies. Bitcoin, on the other hand, has a wide range of associated aspects, is global, and naturally the forces involved are multifaceted, slowly honing into a multi-party consensus mechanism as it develops.

2. Bitcoin introduced people to the blockchain. Talking about blockchain on a theoretical level is a bit cloudy. Holding Bitcoin makes it efficient to know the blockchain. Bill Gates had previously given bitcoins to a friend as a birthday present, and the friend received them in his wallet, so naturally he became aware of the blockchain on a practical level, with far more powerful effects than textual and verbal delivery.

3. Bitcoin's success has spurred a cottage coin frenzy, one by improving on Bitcoin's shortcomings; and two, by furthering the popularity of blockchain applications. In a sense, cottage coins developed Bitcoin, and the Bitcoin tech elite community developed many tools to avoid cottage coins subverting Bitcoin, such as sidechains, like the Bitcoin wallet feature inside ImToken 2.0.

4. The exemplary power of the Bitcoin King influence has stimulated the chain team to attack and develop blockchain applications and create social value. If Bitcoin crashes, naturally, the chain team is not motivated to play the blockchain as much as it is to play the crash.

The Future of Bitcoin

Bill Gates has been a leading tech and business hero in the last few decades of his era. His declaration that he wants to short Bitcoin is naturally powerful. The future of Bitcoin is a fundamental concern for many market participants.

On the one hand, if Bitcoin meets the expectations of believers like PoE, it's worth more than gold, more than property, and more than any equity.

On the other hand, Bitcoin is going really well and in turn will squeeze out other things that are otherwise excellent.

One is the social value of squeezing entrepreneurs to do business. Because the masses vote with their capital and support entrepreneurs as much as they support bitcoin. So the public supports bitcoin, not entrepreneurs. Thus the success of Bitcoin is behind it, as if one will make it more difficult for many businesses to get popular capital support.

Second, it squeezes the function of policy to regulate the macroeconomy. Once the dollar became the monetary hegemon, it has in turn sheared the economies of many countries over the past few decades, with policy regulation by damaged countries to no avail. If Bitcoin does become digital gold, it will be just as counterproductive to the macroeconomic regulation of countries as the US dollar.

So, anything is possible with the future of Bitcoin.

One is that faith triumphs over all and Bitcoin replaces the dollar as the global hegemon.

Second, the politician community and the entrepreneurial community have joined forces to short Bitcoin, which has become junk.

Third, the two forces are balanced, oscillating back and forth in a wide range.

I personally lean towards the third, bitcoin has no traditional value base, but it is a source of incentive for the chain to develop blockchain and create social value. Bitcoin collapsed, might as well let it exist and maintain a boom in a relatively high range.

Conversely, it is less likely that Bitcoin will be liberalized and left entirely to the market, and at least the political, academic and entrepreneurial elite, do not want Bitcoin to siphon off social resources that they would otherwise have easy access to allocate themselves.


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