Bitcoin digital gold

1.

The emergence of bitcoin is based on a set of "payment system", and its value was first born because of the choice of "forced and helpless". In the later stage, bitcoin develops in the direction of digital assets and digital gold. In addition, there is a blind area of legal supervision, which gives opportunities to some lawless elements and people and institutions who like to speculate, In addition, some people dream of becoming rich overnight, which sets off a prosperous currency circle. As the world's first digital currency, bitcoin's value has soared tens of thousands of times

After the birth of bitcoin, people didn't understand it at first, but with the development of technology, many people began to preach and preach its value when they knew how to use it, and it was in line with the needs of some people and institutions, With the participation of capital and institutions, it has been pushed to a new height. Combined with the rise and fall of the price of bitcoin in the past five years, almost every big fall has been caused by frequent cutting of leeks. Due to the lack of supervision and extremely serious privatization, many people have not made a fortune overnight through the coin circle, but lost everything

2. The relationship between bitcoin and gold
bitcoin, a blockchain based digital currency, is often regarded as a global safe haven asset like gold. In this age of global turmoil, even gold has become unreliable and may be confiscated as India has. Some people have begun to think that bitcoin can replace gold, because bitcoin not only has the reserve capacity of gold, but also has some capabilities that gold does not have, such as low handling charges, rapid transfer capacity, decentralization and so on. With the increasing popularity of bitcoin and the decreasing volatility, the status of gold has been threatened
will bitcoin shake the status of gold?
gold has a long history, almost as long as the history of human civilization, and has withstood numerous tests in history. Bitcoin is less than a decade old, but its value has risen sharply. There is no support behind bitcoin. Of course, since the end of the gold standard, there has been no support from other currencies, except that there is no support from the central bank behind bitcoin. It's hard to predict whether bitcoin will exist in the next decade, a hundred years or even a thousand years.

3.

2020 is a magic year. Although there are many troubles from the beginning of the year to the end of the year, asset prices are rising very well

let's look at the performance of all kinds of assets:

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here's another interesting thing. In the first seven months of bitcoin coming out, the creator Nakamoto Tsung mined 1.1 million bitcoins himself, accounting for 6% of the total amount of bitcoins. These bitcoins have been left untouched, and now are worth nearly $40 billion

If a market has the four characteristics of high leverage, drastic price fluctuation, limited trading volume and high concentration, then the market is a perfect Chinese chive cutting market

we have done a previous issue of the hunt brothers silver speculation. After hoarding a large proportion of silver, the hunt brothers in the United States manipulated the prices in the futures and spot markets to reap the silver investors in the market. Today's bitcoin market is a bit like the silver market of that year

before any asset bubble bursts, there will be lots of people making money. What is the upper limit of the bubble? How high will the price go? How crazy can market sentiment be? None of this can be predicted

a rational investor should not be distracted by the soaring price, but should carefully think about two questions outside the fanatical market sentiment. Do I really understand the investment logic behind this thing? Is it really worth so much money

if you're like me, you'd better not take part in this kind of incomprehensible excitement