In the recent period, the "virtual currency" such as bitcoin, like epilepsy, went up wildly and fell sharply. By the end of 2017, bitcoin had been close to $20 thousand, which fell sharply last week due to the bad news of supervision. The lowest time was only 10000 dollars, which was half the peak of last year, and the rest of the similar currencies fell or even bigger.
But soon, these "coins" began to rebound from the low. The reason is very simple. Because every investor who bought in history has gained huge profits in the past, so many people believe that history will repeat itself, so they are brave enough to enter the market.
![O[JWTY0{~_A]JYYPXDDO}61.jpg](https://images.hive.blog/768x0/https://steemitimages.com/DQmdSLGwyCXjMeRUpH1NdFL6MVpZVBtrmkppH19JBB5nrSq/O%5BJWTY0%7B~_A%5DJYYPXDDO%7D61.jpg)
However, the bad news of these "virtual currencies" is still coming from all over the world. The Chinese government has announced that the Ministry of public security and the General Administration of industry and Commerce will join hands to combat pyramid selling activities under the guise of "virtual currency". The South Korean government is also brewing a ban on the bitcoin exchange. Even Japan, which has been more ambiguous than the special currency, has also raised the sound of strengthening the supervision of bitcoin.
More unfavorable, not France or Germany, which is the top countries in bitcoin, suggested that the twenty group should discuss the international coordination of bitcoin regulation at this March meeting. The group of twenty, referred to as G20, is currently the main platform for global economic governance and dialogue. If we really submitted bitcoin to such a conference, we can see that the whole world has realized that bitcoin speculation has harmed the financial order and all aspects of society.
The value of bitcoin is negative>>>>
About bitcoin right and wrong, has been debated for many years, do not believe people still do not believe, still infatuated with its fascination, can be said that the two pull people who can change one idea.
There is no doubt that the intrinsic value of bitcoin is 0. This is an understatement, if taking into account the "mining" of these behaviors, bitcoin's social value is negative. Bitcoin mining requires very high computer equipment, the cost of electricity alarming. It has been estimated that as of November 20, 2017, the global bitcoin mining in power consumption is about 29.05TWh, in bitcoin mining on power, more than 159 countries, the annual electricity consumption, equivalent to a medium-sized country like Argentina years of electricity sum.
On the news of many mining power. Earlier, some miners went to Iceland to build mine, because of Iceland state power supply, and is located in the Arctic climate, to "mine" cooling cost is relatively low.
In recent years, the light is stealing electricity mining news has been reported, there are nearly ten China in Shaanxi, Yanan, Jiangsu, Anhui, Zhejiang, Heilongjiang, Daqing has experienced huge electricity theft phenomenon, some day electricity stealing tens of thousands of degrees. This will not produce social positive value, meaningless waste of a large amount of energy, the destruction of the environment, and will eventually lead to the attention of all countries. China government recently on mining behavior action, although there is no crack (mainly is the lack of legal basis), the measures taken to be discouraging, but know that publicly announced "discouraging" in China, is relatively strict supervision means.
If you do not intervene, all kinds of "money" can live for decades>>>>
But the intrinsic value is 0 or even negative, and it will not disappear as soon as people think. Buffett once warned that bitcoin will eventually become a tragedy. Although I believe in Buffett's judgement, if the market develops, bitcoin and other "coins" will probably survive for a long time in the world, even in three or forty years.
The reason for this is that historically, anything new and cool is completely false. If its mass foundation is good, it will survive for a long time.
Sounds than bitcoin will be a wild legend "moon real estate business, by an American in 1980s" invention ", until today there is a deal. While bitcoin, from the degree of novelty, from the level of political fanaticism, inspire people from its high-tech appearance, more than any of a mad event in history, it is easy to find followers even fanatical followers in the world. So, it is completely not the tragedy of honor in decades".
The tragedy may happen in 5 years>>>>>
But in my opinion, a variety of currency, such as bitcoin, will eventually die from the hand of supervision.
Some people say that the reason why government and bitcoin have not to go, because bitcoin is too great, a direct threat to the government's currency, it is pompous. This statement reflects the overconfidence of the bitcoin fans. On scale, bitcoin is now worth $1000-2000 billion, completely out of the same magnitude as the million - billion dollar currency issued by the global government. So, countries are not fighting bitcoins at all because bitcoins are a threat to the government's currency, but for other considerations.
Looking back, the attitude of the government to the special currency is gradually changing. The initial government, regardless of it, only prevented it from becoming a tool for money laundering and other crimes. As long as it is not used for these, two irrelevant, officials rarely criticize bitcoin, and even some officials regard it as a new thing and give a positive evaluation.
By the 2017, the wealth creation effect caused by the rise of bitcoin has stimulated a large number of minting movements. The first ICO campaign has been on the rise. For this reason, the government did not take long to take measures to ban it. Next, because mining caused more and more power consumption, has become a social problem, China government adopted a gentle but firm action against mining.
But in my opinion, a variety of currency, such as bitcoin, will eventually die from the hand of supervision.
Some people say that the reason why government and bitcoin have not to go, because bitcoin is too great, a direct threat to the government's currency, it is pompous. This statement reflects the overconfidence of the bitcoin fans. On scale, bitcoin is now worth $1000-2000 billion, completely out of the same magnitude as the million - billion dollar currency issued by the global government. So, countries are not fighting bitcoins at all because bitcoins are a threat to the government's currency, but for other considerations.
Looking back, the attitude of the government to the special currency is gradually changing. The initial government, regardless of it, only prevented it from becoming a tool for money laundering and other crimes. As long as it is not used for these, two irrelevant, officials rarely criticize bitcoin, and even some officials regard it as a new thing and give a positive evaluation.
By the 2017, the wealth creation effect caused by the rise of bitcoin has stimulated a large number of minting movements. The first ICO campaign has been on the rise. For this reason, the government did not take long to take measures to ban it. Next, because mining caused more and more power consumption, has become a social problem, China government adopted a gentle but firm action against mining.