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What value does Bitcoin create (who gives Bitcoin its value)

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What value does Bitcoin create (who gives Bitcoin its value)

What value does Bitcoin create? According to Bitcoin. com, what value does Bitcoin create? There are two important aspects in the field of Cryptocurrency. Firstly, its substitutability, anonymity, and ease of use make it a type of asset that can be used to transfer funds; Secondly, it has the advantage of being a medium of exchange, such as being able to trade and make payments with anything else. Finally, it has a large number of network participants and has generated many new functions

According to CoinMarketCap data, so far, the market price of BTC is about $14000, while that of Ethereum is more than $26000 (nearly 10%)

Who gave Bitcoin its value

Editor’s note: This article is from Caiyun Blockchain (ID: cybtc_com) and is authorized to be reprinted by Daily Planet.

Who gave Bitcoin its value According to CoinMarketCap data, the current price of Bitcoin is around $29000- one of the largest daily declines since July 2017 But it turns out that this number may be much lower than last June. In the past year, BTC’s performance has surpassed the S&P 500 index and has more than doubled. However, compared to gold, the price of Bitcoin is still relatively high, which means it has no support or fundamental factors to continue climbing to new highs From a technical perspective, Bitcoin remains a promising market, but its volatility is minimal. Therefore, who endows Bitcoin with value in my opinion

First of all, we can see that if an entity can control a Money supply and determine a part of the economy composed of a basket of assets through a predictable method, then there is no guarantee that such assets will not be diluted or destroyed in some way; And when others can do this, this situation will occur:

1. They can decide whether these currencies will depreciate 2. How they will affect people’s behavior, their behavior, and their significance to the entire market, and then consider them as a choice in the investment portfolio

Secondly, Bitcoin and gold have different attributes, because these two types of Cryptocurrency have their own characteristics and are created by the same person. For example, when you want to buy a gold bar or some goods, you can use money to buy a piece of clothing or a coat, or use cash for payment, and so on However, it should be understood that no matter which party is the most influential person in the world, as long as a country’s central bank issues legal support, it can become a place for reserve funds. (Note: “Central bank” refers to a basket of currencies issued by the state.). Why does the central bank not directly sell “sovereign currency” to the public? In fact, many investors know that the government’s stance on Bitcoin is very conservative, so their views do not completely match; Some experts even suggest that Bitcoin is a speculative tool rather than a true form of currency.

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