Bitcoin is so explosive now, has science replaced gold?

Although bitcoin is so explosive now, it is still unrealistic to replace gold. Bitcoin is rare, only 2 1 10,000 pieces. It has all the characteristics of gold as a currency. So people think he will replace gold. Compared with traditional financial forms and organizations such as banks and securities, Internet finance is a subversive and controversial heterogeneous form, among which Bitcoin is more prominent. Bitcoin is a peer-to-peer protocol based on blockchain technology, which can ensure the generation and use of the entire payment system and virtual currency.

Bitcoin is not backed by the national army, and this currency is difficult to maintain. Bitcoin is a decentralized digital currency based on blockchain, which means that all transactions are recorded and displayed in the public * * * distributed digital general ledger. It provides relatively low transaction costs, so it can provide point-to-point rapid remittance on a global scale.

The total number of blocks issued is limited to 265,438+0 million. At first, each reward is set to 50, and then every time 2 10000 is released, each reward is halved to slow down the release of bitcoin. In other words, every four years, the output of Bitcoin will be halved. The decline in the circulation of bitcoin not only means that the supply growth is reduced, but also the mining cost is higher. For miners, the bitcoin rewards they receive are reduced by half every four years, and the calculation cost is higher. Rising mining costs and declining supply growth have largely pushed up the price of Bitcoin.

Since bitcoin can appreciate, bitcoin holders certainly want to store all bitcoin and increase its value. If everyone thinks so, then no one wants to trade with Bitcoin, and Bitcoin will withdraw from the circulation field and lose its most basic circulation function.

If bitcoin is used as legal tender, the state will lose the monopoly right to issue currency. Anyone with a computer can make bitcoin, and legal tender will become private. When a country loses its right to issue money, it loses its ability to use fiscal and monetary policies to regulate the macro-economy. Seeking the spread of profits and capital will widen the gap between the rich and the poor in society.