Bitcoin is bitcoin

Recently there have been readers who insisted that I speak bitcoin from the economics point of view. A few months ago, I remembered answering a question about bitcoin in Weibo Q & A, when the price of bitcoin was not yet so fierce. Today I saw a news article saying that Google Trends has recently released its hot list for 2017, ranking second in the Global News Rankings.

Bitcoin can be seen really red.

With the bitcoin fever, the "blockchain" three words are also frequent, so often can see, but just do not understand. In the case of blockchain technology is not too understanding, I just vaguely felt, this seems to be a huge technological breakthrough, specifically to solve the existing "centralized" "personal online privacy" "stranger trust" "Power of coercion" and so on. Sounds exciting Blockchain technology should be the trend. And bitcoin is just a pioneering move based on blockchain technology.

Maybe I am wrong. If you have the heart, the interpretation of these technologies are all network.

Just from what I can understand, bitcoin is the perfect currency. For easy understanding, it has long been known as "digital gold." It has all the characteristics of gold, but safer and more portable than gold, in theory, can completely replace the gold. Not to mention mainstream economists who do not support the gold standard, even the so-called Austrian camps do not recognize bitcoin because, as the founder (probably Mises) said, gold itself is available before it becomes a currency Original trial value. What is the currency backtracking theorem These people win flushed, saying bitcoin is just a bunch of code! Not enough money at all.

Okay, not that's not it. I do not want to participate in this debate. I can only understand simple things, bitcoin for me, understandable level, that is, the economics point of view is very simple: 1, it is not the government's legal currency. 2, there is not any one central body in the issue, which is the so-called decentralization. 3, there is a limit of 21 million. What do these three mean? That means it will never again be diluted by the monetary policy of your banknote. French currency is certain of continuous inflation. As for those who hold a "moderate and moderate inflation" and have a normal and reasonable view, they naturally do not think this is anything. Retain their own opinions.

The future of Bitcoin depends on further technological breakthroughs and the recognition by many people of their monetary attributes. The latter is a necessary condition, the former may accelerate the arrival of the latter.

Of course, bitcoin is now forked (what is a forked?) Out of a lot of money, what BCH, BTG ... If you count Litecoin, Bitcoin and a bunch of other digital currencies, do not remember. At the same time, there are now a few believers who believe BCH is the real bitcoin! Who knows? Anyway, I do not know.

The birth of bitcoin has had an irreversible effect on the world. People do not necessarily recognize these encrypted digital currencies, but at least more and more people are beginning to think about the value of these "legal coins" they hold. Since this is a cross-border change, the relevant departments of all countries have to consider whether to go upstream or to take advantage of the situation.

I do not understand these surging and volatile digital currencies, but I am happy to see the competition among various digital currencies. No matter what bitcoin or any other coins to win out, how is the lifeblood of the economy pinned in the hands of governments than the free water is better.

In addition, the above does not constitute any investment advice. No one can guarantee that bitcoin will not be completely zero one day, but who would dare to say that Bitcoin will not have a $ 10 million day? Very exciting right! The mysterious master of Bitcoin, Mr. Nakamoto, has said that bitcoin is either widely used or zeroed out in the next 20 years.

Wait and see.
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