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Bitcoin, What is 21 Million (Bitcoin 20 Billion)?

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Recently, a friend asked me, what is Bitcoin? Why would you buy a mining machine

Bitcoin, What is 21 Million (Bitcoin 20 Billion)?

Recently, a friend asked me, what is Bitcoin? Why would you buy a mining machine for 200,000 dollars? I want to know, how much money can these 100-plus machines actually make? The answer might be that you bought 200 coins and sold them all. Then, how much electricity cost do you need to buy a mining machine? Or maybe you just want to exchange 1000 yuan for a plane ticket! But I think many people don’t really know what’s going on… Actually, I’m also looking for another way to explain it and understand its meaning:

1) Did anyone notice a problem in the meeting today, is there enough Bitcoin in this wallet? Or what can it be used for?

2) If you already have 21 million BTC and have been holding it till now, how much profit should you have? (It’s not all zero) However, you should remember one thing: if you don’t have more than $20,000, you won’t mine another 20 million Bitcoins, and it may take you at least 30 to 40 years to accumulate such a cost. (Because) you are definitely waiting for someone to tell you that only the “real” people will enter this market, so you have to carefully study your asset value and risk tolerance to judge its future direction, after all, you only have millions of dollars. Of course, some people may think that Bitcoin is really expensive, and sometimes they can’t even participate, and some small exchanges are just stuck…

3) For those friends who want to speculate on altcoins, don’t have any illusions, as long as you are interested in this technology, don’t miss it. But no matter what, we must have patience, think seriously, and believe that something will happen tomorrow…

4) Always pay attention to the big shots in this industry and see who has the potential to become the pioneer of the blockchain world~

Bitcoin 20 Billion

Editor’s note: This article is from Colorful Cloud Blockchain (ID: cybtc_com), author: irishash, authorized reprint by Odaily Planet Daily.

Bitcoin is one of the oldest cryptocurrencies in the world. On January 10, 2020, Grayscale Investments, the world’s largest asset management company, announced the acquisition of Bitcoin Trust Fund for $20 billion. In the following months, Grayscale’s BTC trust product will launch a new exchange-traded fund, and this number is expected to grow in the first quarter of 2021. According to the latest data, the fund is currently valued at about $10 billion.

According to Bloomberg, these new investments enable institutional investors to gain exposure to everyone in the cryptocurrency space, including individuals, businesses, and governments. While Bitcoin has become an attractive product, it is also seen as a speculative tool, which means it can be used as a hedge against inflation.

As the price of Bitcoin continues to rise, more and more people, especially the younger generation, realize this, hoping to protect their financial situation by buying or holding this cryptocurrency – without any risk adjustments because people prefer to “buy in”.

However, the recent speculation about Bitcoin has not diminished, and there still seems to be a lot of uncertainty, some of which may be due to the significant fluctuations in the price of Bitcoin. For example, earlier this year, US President Biden signed a $1.9 trillion coronavirus relief bill, which could result in the country receiving up to 3.8% of fiscal revenue from its economic activities. At the same time, the “Bitcoin mining” craze has led to a surge in global electricity costs. In addition, China is preparing to cooperate with Russia to establish a national grid-based service to help develop energy systems and create more oil resources and reduce carbon emissions worldwide.

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