Bitcoin surge will exacerbate chip shortages, mining machines and graphics cards are hard to come by

However, countries with cheap electricity, such as Iran, could introduce new sources of income through Bitcoin mining.

"There are a lot of things you can do. Mining facilities are often centralized and easy targets," de Vries said. Policymakers could intervene by raising electricity prices or confiscating equipment. Taxing bitcoin mining equipment manufacturers or restricting their use of chips are also strategies to consider.

Although Bitcoin is a decentralized currency, government agencies can regulate trading platforms to prevent transactions from affecting its value.

De Vries pointed out: "We have limited information at the moment." Moreover, he warned about predicting the future trend of Bitcoin. "Who knows what will happen in 2024? Maybe everyone is using Bitcoin, maybe no one, maybe everyone has forgotten about it." He said.

Bitcoin is a P2P electronic currency, that is, a virtual currency. Both parties can bypass the bank and trade directly. Bitcoin also has super high security and confidentiality. No one can shut down a Bitcoin trading website, and the more people use Bitcoin, the safer the trading website will be.

The first batch of Bitcoins were produced by its concept proposer "Satoshi Nakamoto". In 2009, he released the software code of Bitcoin. Anyone can download the software to use this electronic currency system, and can also participate in the tasks in the software, which is mining, to get Bitcoin rewards.

In other words, the initial users of the software can receive Bitcoin rewards by participating in mining using their computers.

People can still get Bitcoin through the mining tasks of the software. The threshold for mining is very low, and you only need a mining machine (mining machine refers to a computer) to participate in mining.

However, as software computing power improves, the difficulty and cost of mining are increasing.

Initially, obtaining Bitcoin through mining was as easy as taking something out of a bag, but now it is like climbing the Shu Road.

However, no matter how difficult it is, as long as you persist in mining, you can still get Bitcoin.

With the development of blockchain and digitalization, coupled with the impact of the COVID-19 pandemic, mining for cryptocurrencies has been, and will continue to be, a crazy journey for a long time to come.