Governments want to control the currency and protect their ability to have the only currency and credit within their own borders. " He said. "I suspect the biggest risk for bitcoin is success, because if it does, the government will try to kill it. And the government is strong enough. "

In fact, governments around the world have different attitudes towards the bitcoin. Russian authorities prohibit citizens from trading and holding bitcoin. The Chinese mainland has a head-on blow to the institutional trading and mining industry of bitcoin. Recently, Inner Mongolia province will return all bitcoin mining announcements before 2023, and hit the head of the "Coin Ring people" in China.

Some countries, such as South Korea, are promoting the standardized transaction of digital assets; in 2017, the Japanese government cancelled the transaction tax on bitcoin and recognized bitcoin as a legal payment method. Some Internet and high-tech enterprises, such as Tesla and Microsoft, also accept bitcoin payment.

When the credit of the legal currency is damaged, it will be poured in in large quantities, and then gradually accepted by the public through economic activities. Finally, it will defeat the traditional sovereign currency and let the personal wealth get rid of the influence of public power - perhaps this is what the "Nakamoto CONGs" most want.

Or, bitcoin itself is not a kind of currency, just because it is independent of the US dollar system, it has set up a set of trading system and derived a complete currency survival order centered on bitcoin. The unscrupulous water release behavior of the United States makes the US dollar system crumble. The result of the US dollar's garbage disposal is that capital needs to find a new host. Today they turn over bitcoin, and maybe tomorrow they will be other varieties, such as silver and gold. Many of them do not have the fun of investment in the US dollar dimension, so they are likely to rise to the sky.

But at the end of the day, as Mr. Buffett said, "the future of bitcoin is too unpredictable. Investing in bitcoin is a gamble." Qiaoshui's "analysis report" also said, "its future purchasing power is fundamentally still a speculative proposition." It's still too early to accurately judge the future status of bitcoin - there are too many variables and unknown factors, so the behavior of trying to make such a prediction inevitably falls into the category of metaphysics.

But it is undeniable that the rise of crypto digital currency is the inevitable result of legal currency credit overdraft. At present, the biggest representative of legal currency is the US dollar. As the embodiment of national comprehensive strength, the value of the dollar also depends on the strength of the United States. Under the trend of multi polarization in the world today, the strong position of US dollar, which has lasted for nearly a century, is facing challenges and may even come to an end.

When a multipolar world or even a bipolar world is formed, it will be very difficult to produce the next "US dollar hegemony" under the relatively balanced international power balance. Perhaps, in the future, there will be no universally available legal money.

So, does bitcoin, which does not rely on any country, have a chance to take this opportunity to occupy a place?

(2021-3-22)