When the bear market is long, where is the potential of bitcoin to reform the financial industry?

The 10 year old bitcoin now walked into one of the most difficult stage of its development, but this is not the faithful it away.

For most of this year, bitcoin has been in turmoil, many people have witnessed bitcoin from 1.95 million dollar highs to lows near the front of $3200. Maybe we should get away from this speculation, the potential long-term development to discuss bitcoin as an encryption technology.

Reddit user MATURBO found a 2011 video in YouTube, the video shows YouTube users to DAVINCI was just started soon bitcoin express shock.

In the video, DAVINCI talked about very excited about this new payment technology, that this technology will change the Internet and the financial industry. He mentioned to read an article, and find a Instawallet link at the end of the article, so the reader can pay directly to the author. He said that he is through the service of direct remittance, the central organ of the whole transaction process did not cut a commission, did not require the sender to fill the lengthy forms.

“I’m not out of my credit card, I don’t need to fill my transfer address and post encoding and other kinds of information, and is convenient and quick. No middleman fees from sending me money. Everything is very smooth.”

This video reminds people of the true value of bitcoin development in where, and it now to what stage. Over the years, with the rising prices, it has been in the eyes of people from a payment technology into a potential asset value storage.

In early 2011, Internet geeks because bitcoin can successfully bypass the PayPal, save to pay fees expensive a and the potential for the development of this technology is full of praise. In the next few years, a good reputation in this digital currency by mainstream online services, including Dell and Microsoft UK. Later, the price index growth which is mainly used to a new direction of investment. Now, bitcoin first entered Wall Street.

In the whole process of development, but also because of the bitcoin price fluctuation and the application in the black market, money laundering and terrorist activities and criticized by people from all walks of life. Economists will be likened to a Ponzi scheme, known as the “mother of all”. In spite of this, the development of bitcoin is still striking.

The recent encryption market collapse is the inevitable result of the hype brought. When people began to invest bitcoin as a way to get rich quick, they did on demand cycle contribution is greater than the actual demand for fixed supply rate. The results, we only see the price trend, the value of the technology behind it has totally ignored.

We need some patience to bitcoin, to understand its true value. At the same time, short-term investors exit may make the value return to an equilibrium point, to achieve the basic value of the real value of bitcoin.

DAVINCI video reminds us that the true meaning of digital currency, it should continue to move forward at the beginning.

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