After the crash or crash, bitcoin in the end there is no future?


In November 19th, bitcoin prices fell below $5200, a record in 2017 the lowest since October, day decline of 7 percentage points; thought there must be a rebound after the crash, and today the bitcoin market makes people more surprise today, bitcoin prices fell below the $4300 mark, day decline of 9 percentage points. The bitcoin investors tears, have asked: bitcoin in the end there is no future?

In fact, since the 2009 January launch of bitcoin bitcoin, discussion about whether the investment price is not interrupted.

To understand the value of a bitcoin, we have from the essence of money began to talk.

We know that the currency is fixed as general equivalent goods, and commodity value and use value of unity, So the money must have value .

We know from the history of money, money from the shell or ivory objects by gold and silver metal currency, electronic currency, digital currency until now, no matter how it is, it will take the measure of value, means of circulation, payment function, storage function and other functions. In contrast, bitcoin does not have any function.

For example, money can serve as a measure of value. The scale, as the name suggests, is the intrinsic value can be used as a ruler to measure other goods, but the need to represent wealth and value, and the “representative” to the national credit endorsement. For example, a state owned 1 trillion of the wealth, have issued on behalf of the fortune 1 trillion currency, once the money is spam, there will be inflation, debt crisis, sovereign credit crisis, a serious threat to social stability and the currency’s international reputation.

In contrast, bitcoin itself cannot serve as the measure of value, there is no national credit guarantee, but there is no inflation or deflation .


In fact, bitcoin not only do not create value, but also spend a lot of resources. Some people may ask, bitcoin is not necessary to “dig”? Do not dig labor? This idea is wrong.

Why do you say that? Because bitcoin is completely digital symbol design in the network environment, although the analogy of gold, known as the “gold network” or “electronic gold”, but does not have the use value and value as gold.

The commodity is a combination of value and use value, all goods have to work to create value, and the value is no difference in the commodity in the condensation of human labor.

Labor is divided into effective labor and invalid labor, no difference cannot be used to measure human labor labor is invalid labor, on the contrary, The production process of bitcoin not only does not create value, but consume a large amount of social resources and wealth.

Bitcoin has soared since the launch of the millions of times, what is the reason?

This is caused by the internal operation mechanism of bitcoin.

Bitcoin since its launch, every ten minutes can produce a set of blocks, and each block contains a certain number of bitcoins, who dug the bitcoin who. At the same time, the number of coins every 4 years, half automatic time, will automatically produce a rise in its internal mechanism. Premium plus the world investors caused by the prices skyrocketing.

In fact, bitcoin prices have far exceeded the value of it (which in fact, it is not worth a hair) by the world bitcoin investors, using the “Ponzi method pass the parcel”, to produce price soaring.


Bitcoin is a virtual goods and virtual goods and virtual currency (electronic currency). Virtual currency is pure credit currency, the central bank balance sheet belongs to the category of cash.

The national currency is mainly in the form of notes issued, and now in the form of electronic money issuance. That is to say, from your bank account to pay the deposit, only need to open the computer to enter a series of numbers, do not really need the corresponding banknote printing.

However, the circulation of electronic money and the country’s wealth is the corresponding, it behind the national credit support. These virtual made more money, there will be less the same, inflation; deflation.

While bitcoin does not have these features, but to a certain extent, money laundering, ICO financing tool, bankrupt and I do not know how many people be fooled by this, money illusion, China financial regulators banned bitcoin trading in China is very wise.

Of course, bitcoin is not Nothing is right., bottom block chain technology bitcoin, in the future when the mature technology, must be put to great use, but Chinese technology in the current environment, is not realistic.

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