As for bitcoin, a familiar and unfamiliar thing to the public, there are often two voices in fierce confrontation. Some people say that bitcoin is digital gold, with a total amount of only 21 million, which is scarce. Others say that bitcoin is the biggest bubble in our world so far, but a string of undisputed figures is worthless. Most people have the impression that bitcoin is the illegal currency used in illegal transactions such as extortion with network virus, drug trade and terrorist activities. Is bitcoin a bubble? When I share my knowledge about blockchain in class, I often interact with students with a question, which is “what property will you not be taken away by others in any extreme situation?” Some students said no, some said “knowledge”. The students who did not answer must have a lack of security and a sense of crisis. For example, bank bankruptcy, the collapse of financial institutions under the financial crisis, or criminals become prisoners, or regional local war and other possible factors. The essence of using bitcoin in illegal transactions is not anonymity, but that it cannot be deprived by a third party. As long as the user’s private key (password) is not actively or passively disclosed to a third party, the assets under the corresponding account will always be under the user’s name. This is also one of the values of bitcoin, so the bubble ignores its technological innovation value. When bitcoin was wandering in the world, it accidentally made an illegitimate child called blockchain. In the bitcoin white paper, there are 67 blocks and 27 chains. Therefore, people habitually call this child with abnormal endowment and strange skeleton as blockchain. Is bitcoin digital gold? In October 2020, according to Indian media reports, two Indian passengers were arrested at Indira Gandhi International Airport. The two passengers flew back from Dubai to Delhi, India. Customs officers found that the two passengers were suspicious and unnatural. During the inspection, the two passengers hid 1.14 kg of gold in their bodies. According to today’s gold plate price of 512 yuan / g, it is equivalent to 570000 yuan. In July 2013, Chen, a Taiwanese, wanted to take Air China from Shanghai Pudong International Airport, but did not declare 2900 grams of gold products with him to the customs when he left the country. The first instance of Shanghai Municipal People’s court held a public hearing and sentenced the defendant to “the crime of smuggling precious metals”. In the first instance, the defendant was sentenced to two years and six months of fixed-term imprisonment, suspended for two years and six months, and fined 100000 yuan. Whoever smuggles cultural relics, gold, silver and other precious metals prohibited by the state from export or precious animals and their products prohibited from export by the State shall be sentenced to fixed-term imprisonment of not less than five years and shall also be fined; if the circumstances are relatively minor, he shall be sentenced to fixed-term imprisonment of not more than five years and shall also be fined. The reason why bitcoin is named digital gold means that it is as constant as gold. From the perspective of marketing, this is a very advanced way. Just like the US dollar, also known as the US dollar, it obviously increases the Chinese people’s trust in the US dollar in the Chinese semantic environment. We have never called RMB “Renjin” or “Minjin”. Obviously, although gold is scarce, in order to protect the stock of gold, many countries restrict the liquidity of gold through laws and regulations, which leads to the price discount. In terms of liquidity, bitcoin is obviously better than gold. In 2005, there was a popular American drama called prison break. The hero tattoos all the important information he needs to escape. If this happens after January 2009, he just needs to tattoo the private key (password) corresponding to his bitcoin account, and he can store all the funds he needs for his activities in this account for use around the world. Is bitcoin worth investing in? With all that said, there is bound to be a question about whether bitcoin is worth investing in. Before answering this question, you need to answer a question first. If you want to invest 10000 yuan to buy bitcoin, there is a 50% probability that it will drop 80% in two years, and it is also possible that the 50% probability will triple. How would you choose? Obviously, this is for everyone to get a different answer, because everyone’s risk tolerance and the amount of time available for investment funds are not the same. Bitcoin short-term investment is still a high-risk behavior, and unfamiliar not to invest is also a good self-protection mechanism.