In fact, consider the two most important issues
1, where is the value of this thing
2, will not be copied
These two questions seem to me that I have not seen any reliable answers. They are all emphasizing the so-called technology, decentralization, and confidentiality. We are thinking about technology and thinking about it. Question 1 What is the value of the essence of this thing?
There are two currencies, one is the government credit guarantee, one is the exchange function, and Bitcoin has the function of exchange, but he does not have the government endorsement. Theoretically, if BTC disappears overnight, there will not be any organization responsible for it, so I look at it shallowly, this thing is not a reliable currency, and at most it is a virtual commodity that has cross-border exchange properties.
I recognize his exchange property, but you told me that if you rely on a decentralized exchange of goods, can there be other values to support it at such a high price, and the check can be exchanged?
The second will not be copied
Actually, under an article of a big v (the future rich man was born in the field of electronic money), I asked this question, what technical barriers Bitcoin has to prevent the emergence of other similar electronic currencies. At that time, there was not so much mess in China. In fact, there is no way
I recognize that the concept of Bitcoin is very good. Decentralized issuance mechanisms and restrictions can prevent inflation. Will it be possible for the government’s currency to learn in the same direction in the future? However, there is a premise that there is a national credit endorsement, or else We see a variety of electronic coins that are worthless.
Since the value of Bitcoin is not high, the reproduction is endless, why do so many people do it? Essentially, the bubble speculation is based on the name of technology. Most people think that it is cheaper to buy now. Selling to other people makes quick money. I met 90 percent of people. They all have this idea. This is different from the South Sea bubble and the tulip bubble. Change the subject
Blockchain technology is good, but my point is that spamming all kinds of electronic coins is a mouse cricket, especially in China where there are many ghosts and zombie gods, there are p2p, MLM, LeTV and other financial scams in front, this year’s turn to electronic money, No matter what class you are in, there is always something for you
Incidentally, within a few years, I would not be surprised that price of Bitcoinwill be zeroed or even disappear. People are tired enough to live in reality. Please give them some illusions.
Some of the comments are very good, I reply to my ideas, we discuss
- About the calculation force
Of course, the power is a guarantee, but I doubt very much that it is just a force. That is, the more difficult the mechanism for digging money behind in the vernacular, is it the ability to create credits that are comparable to the state? In addition, this friend has one point that I agree with and that the power is king. Therefore, the currency must be concentrated in the hands of the mining companies. Then it is not surprising that there will be various problems such as price manipulation.
2. Discussion on the interests of several parties
First of all, I am not an anarchist. I believe that according to evolutionary theory, the social division of labor is inevitable. The state and the state management agencies are part of the social division of labor. The so-called violent institutions also have to see who is violent and treat foreign enemies. Robber violence is a must. And we look at other areas where there has been no government, and it seems that most people have been miserable.
Therefore, here we do not discuss political issues in depth. We simply discuss the interests of several parties. This is relatively simple and easy to understand. Where are the interests of national regulatory agencies?
Yes, in Venezuela, the functions of the government have not been exercised well. However, in Europe and the United States where electronic currency is popular, including in China before, I think that the overall currency is still stable. Venezuela is one of the few countries that has been eliminated, most of them. The state is a bit sensible to long-term stability and will not allow money to spam. This is the same in the world. This is in itself beneficial to the managers themselves.
Including mining companies, ibid. Finally, it is the interest of the holders who buy in the secondary market. Ordinary holders face significant disadvantages to the currency issuers in the primary market, because the currency is almost costless; in addition, it is also obviously disadvantageous in terms of computing power. Because of the design mechanism of electronic money, the more difficult it is to mine behind, In fact, most of the people who entered the stadium late in the evening were actually not even edible meat, but only fertilizer.
The benefits of e-currency I do not see much, but several large groups of a bureau, hundreds of thousands of starting to launch an electronic coin, starting to pull people into the game, after the harvest, it is very easy, so if the country let go of this thing It wasn’t long before it was estimated that Aunt was going to pull a banner to sit and be defrauded.
3. About electronic money and gold
The industrial use of gold is certainly not so much, but the consumption of jewelry, including dentistry (I have a crown in my mouth) is also a lot, the key is the metal of gold, many uses can not use other metals Instead, its physical properties are so good, so it can be expected that, with limited gold reserves, gold will one day be consumed. In 16 years, China’s gold consumed 975 tons, but only 453 tons was produced. Of course, in the history of thousands of years, gold symbolizes wealth. Under these psychological expectations, there are also investment requirements that are understandable.
Investing in a bit of gold is definitely a choice to preserve value. After all, the world’s gold is so much that it is gone. Therefore, in my column article, when gold is 1200, it can “buy gold with the lottery mentality”, that is, when it is an insurance, 5–10% of the assets will be invested in long-term gold assets.
A single electronic currency can be considered as scarce due to the protection of computational power. However, in view of the entire electronic currency, functions can be similarly replaced. Therefore, there is no scarcity attribute. It can be foreseen that due to speculative demand for electronic money, There will also be the emergence of an endless stream of electronic money. Theoretically, supply can be unlimited.
How can this kind of thing compare with gold?
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