Why Bitcoin is a Bubble?

The concept of Bitcoin was first put forward by Satoshi Nakamoto on June 5438+065438+ 10/day, 2008, and was officially born on June 5438+1 0/3, 2009. According to Satoshi Nakamoto's idea, open source software is designed and published, and a P2P network is built on this basis. Bitcoin is a virtual encrypted digital currency in the form of P2P. Point-to-point transmission means a decentralized payment system. Unlike all currencies, bitcoin is not issued by a specific monetary institution, but is generated by a large number of calculations according to a specific algorithm. Bitcoin economy uses the distributed database composed of many nodes in the whole P2P network to confirm and record all transaction behaviors, and uses cryptography design to ensure the security of all links in currency circulation. The decentralized nature of P2P and the algorithm itself can ensure that the currency can not be manipulated artificially and create a large number of bitcoins. The design based on cryptography can make bitcoin only transferred or paid by the real owner. This also ensures the anonymity of currency ownership and circulation transactions. The biggest difference between Bitcoin and other virtual currencies is that its total amount is very limited and extremely scarce. According to the notices and announcements issued by the People's Bank of China and other departments, virtual currency is not issued by the monetary authorities, has no monetary attributes such as legal compensation and coercion, is not a real currency, has no legal status equivalent to currency, and cannot and should not be used as currency in the market. Citizens' investment and transactions in virtual currency are not protected by law.

Tips: The above explanations are for reference only. Before investing, it is recommended that you first understand the risks of the project and have a clear understanding of the investors, investment institutions, chain activity and other information of the project, instead of blindly investing or entering the capital market by mistake.

Investors should not substitute such information for their independent judgment or make decisions only based on such information, which does not constitute any investment operation.

Reply time: 202 1- 12-20. Please refer to the latest business changes announced by Ping An Bank in official website.