2 thoughts on “What is Bitcoin?”

  1. Bitcoin is not a true currency.
    The first, Bitcoin has no national credit support, and has no legal compensation and mandatoryness. Therefore, the distribution range of Bitcoin is limited and unstable, and it is difficult to truly play the role of circulation payment methods.
    The size of Bitcoin has an upper limit, which is difficult to meet the needs of economic development. If Bitcoin becomes currency, it will lead to deflation and curb economic development.
    third, Bitcoin lacks a central regulation mechanism, and is easily over -hyped, resulting in sharp fluctuations in prices, and cannot become a means of compliance currency and circulation. At present, most of the products that accept Bitcoin payments are still the standard of the country. currency.
    Fourth, Bitcoin has a strong replacement, and it is difficult to fixedly act as general equivalent. Any "currency" that has its own mining algorithm, followed by P2P protocol, limited, and non -central control may replace Bitcoin.
    At present, Bitcoin is more as speculative tools, not payment tools in the real economy. People holding Bitcoin are more willing to collect it instead of buying other products.

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