Bitcoin Thrives Against All Odds


Since it is currently popular, I want to announce that I will launch my own cryptocurrency next week.

We call it “gold coins”.

No, this is too selfish.

How about “muttcoin”? I have always had a soft spot for mixed breeds.

Yes, it is perfect-everyone loves dogs.

This will be the biggest thing since fidgeting.

Congratulations! When my new coin is released next week, everyone reading this book will get a muttcoin.

I want to distribute 1 million muttcoins equally. Spend them wherever you like (or where anyone will accept them!) anytime, anywhere.

what is that? The cashier at Target said, they won’t accept our Muttcoin?

Tell those skeptics that muttcoin has a scarce value-only one million muttcoins will exist. Most importantly, it has the full trust and trust of the desktop 8 GB RAM.

In addition, remind them that 10 years ago, Bitcoin couldn’t even buy a pack of chewing gum. Now, one bitcoin can buy a lifetime supply.

And, just like Bitcoin, you can safely store muttcoin offline, away from hackers and thieves.

It is basically an exact copy of the properties of Bitcoin. Muttcoin’s decentralized ledger has unbreakable cryptography, and all transactions are immutable.

Still don’t believe that our mutant currency will be worth billions of dollars in the future?

Well, this is understandable. The truth is that launching a new cryptocurrency is much more difficult than it seems, if not absolutely impossible.

This is why I think Bitcoin has reached these heights in various situations. And because of its unique user network, it will continue to do so.

Of course, there are setbacks. But each of these setbacks ultimately led to higher prices. The recent 60% plunge is no different.

The miracle of Bitcoin

The success of Bitcoin lies in its ability to build a global network of users who are either willing to transact immediately or store it later. Future prices will depend on the growth rate of the network.

Even in the face of severe price fluctuations, the adoption of Bitcoin continues to grow at an exponential rate. There are 23 million wallets open worldwide, chasing 21 million bitcoins. In a few years, the number of wallets may increase to include the 5 billion people on the planet connected to the Internet.

Sometimes, the motivations of new cryptocurrency exchangers are speculative; other times, they seek a store of value away from their own currency. Last year, new applications such as Coinbase made it easier to join new users.

If you haven’t noticed, when people buy Bitcoin, they will talk about it. All of us have a friend who bought Bitcoin and never shut up. Yes, I feel guilty about it – I’m sure there are quite a few readers.

Perhaps subconsciously, the holder becomes a cryptocurrency expert because it is in their own interests to persuade others to buy, that is, to increase the value of their holdings.

Spreading the gospel-spreading good words-Bitcoin miraculously caused the price to rise from $0.001 to the most recent $10,000.

Who would have imagined that its pseudonymous creators were fed up with the oligopoly of the global banking industry and launched an intangible digital resource that could rival the value of the world’s largest currency in less than ten years?

No religion, political movement or technology has witnessed these growth rates. Again, humans have never been so closely connected as they are now.

Money concept

Bitcoin was originally an idea. To be clear, all money-whether it is shell money used by primitive islanders, gold bullion or US dollars-starts with a single idea. The idea is that the user network will value it equally and will be willing to provide you with something of equal value in the form of money.

Money has no intrinsic value. Its value is purely external-only others consider it worthwhile.

Look at the dollars in your pocket-just a fancy paper with a one-eyed pyramid, stippled portraits and signatures of important people.

In order to function, society must treat it as an accounting unit, and merchants must be willing to accept it as payment for goods and services.

Bitcoin has shown an incredible ability to connect and connect to a network of millions of users.

One bitcoin is only worth the price that the second person is willing to pay for it. However, if the network continues to expand at an exponential rate, then the limited supply will indicate that prices can only go in one direction…higher.

Bottom line

Bitcoin’s nine-year rise has experienced huge volatility. It was revised by 85% in January 2015, and other revisions exceeded 60%, including a significant reduction of 93% in 2011.

However, with each of these corrections, the network (measured by the number of wallets) continues to expand rapidly. When some speculators see their value drop, new investors with margin see the value and become buyers.

The abnormal level of volatility is actually what caused the Bitcoin network to grow to 23 million users.

Hey, maybe we just need to use Muttcoin’s price fluctuations to attract new users…