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It has increased 1.41 million times in 8 years, but has fallen 12% in the past 4 days.
Crazy Bitcoin Reappears on a Roller Coaster Trend Yesterday, Bitcoin wallet platform HaoBTC announced that it would remove the "trading platform" application and stop RMB recharge. On February 9, Bitcoin China, Huobi.com, and Bihang, three Bitcoin trading platforms, announced that they would suspend Bitcoin withdrawals. At the same time, many platforms followed suit and released notices on their official websites to adjust transaction fees and prevent risks.
Influenced by this news, the price of Bitcoin fell sharply, from 7,590 yuan per coin on February 9 to 6,650 yuan at 19:20 yesterday, a drop of more than 12%. However, even if there is a short-term decline, the increase in Bitcoin is amazing, from the initial price of dozens of coins at 1 US dollar to the current price of 6,600 yuan per coin, an increase of more than a million times in 8 years.
Those who make more money from Bitcoin trading than from their salary are those who got in early
In May 2013, this newspaper reported the sharp rise and fall of Bitcoin in the article "Crazy Bitcoin". From 488 yuan on March 27, 2013, to 1,546 yuan on April 10, it tripled in less than half a month, and fell to 420 yuan on April 17. At that time, in order to experience the transaction process of Bitcoin, Qianbao reporter also spent more than 800 yuan to buy 1 Bitcoin. Later, Bitcoin fell sharply and the reporter was deeply trapped. After the Spring Festival this year, Bitcoin became popular again. The reporter opened his account and found that it had risen to more than 7,000 yuan. Not only did he get out of the trap, but he also made more than 6,000 yuan.
Compared with the reporter's small-scale business, Lin Xiang (pseudonym), who works in a technology company, has made much more money. "I also came into contact with Bitcoin after reading media reports in 2013. I bought half of my salary after receiving it. I also traded short-term in the middle, always buying high and selling low. I found that long-term holding is more suitable for me. According to the reporter, in 2013, the price of Bitcoin he bought was about 500 to 800 yuan, and half of his salary could buy more than 10 Bitcoins every month. Now, although his salary has increased, he can only buy two or three. After four years, how many Bitcoins has Lin Xiang saved? "It must be more than 200, but now the price is high, I dare not buy a lot." Lin Xiang said that he is a technician engaged in blockchain research and has a strong correlation with Bitcoin, so he has been holding it.
As for how much profit he made, Lin Xiang said it was not convenient to disclose, but he emphasized that it was definitely higher than his salary and real estate speculation.
The bitcoin in the reporter's account has increased more than 8 times in 4 years, and Lin Xiang, who has been holding it, should have a similar rate of return.
"We have a colleague who earned his down payment on a house from Bitcoin. Of course, he bought Bitcoin earlier, in 2011. At first, he used the company's graphics card to mine after get off work!" Lin Xiang said that in the early days, most people who bought Bitcoin were IT professionals, especially those who were related to blockchain. At that time, Bitcoin was still a new thing, not many people understood it, and even fewer people traded it. The reporter looked through the history of Bitcoin. Bitcoin was born on November 1, 2008. In 2009, 1,300 Bitcoins could be exchanged for 1 US dollar. It was not until February 9, 2011 that the price of 1 Bitcoin reached 1 US dollar for the first time.
From 1,300 bitcoins for 1 dollar to 6,650 yuan per bitcoin yesterday, the price of bitcoin has increased by more than 1.41 million times. In other words, if you spent 1 dollar to buy bitcoin 8 years ago, it is now worth 1.41 million US dollars, which really makes you a millionaire.
However, Lin Xiang's colleague did not hold on to Bitcoin all the time, but kept selling it during several rounds of sharp rises and falls, and now he doesn't have much left. "Bitcoin has no limit on its rise and fall. It doubles in half a month and drops by half in a few days. Once you have a lot of Bitcoin, you sell it after making several times the profit. Who can be patient enough to hold on to it all the time?"
China’s trading volume once accounted for more than 98%, but now it accounts for only 20% to 30%.
Lin Xiang was even more impressed by the fact that since last year, a lot of foreign funds have poured into the Bitcoin market. Since Bitcoin used to be traded without transaction fees, many people used the quick-in-quick-out stock market method to speculate on Bitcoin. "A friend in the circle uses a programmatic investment method and completes tens of thousands of transactions a day. Ordinary people who want to make a short-term profit are no match for robots." Lin Xiang said that this is also the reason why he is unwilling to trade short-term, because he has no concentration and is easily swayed by the market.
Since September last year, the volume of Bitcoin transactions has suddenly increased. According to statistics from the foreign website Bitcoinity.org, the average daily transaction volume of major Bitcoin trading platforms around the world has increased from 600,000 to the current 6 million, and once exceeded 13 million. Among them, the three platforms from China, Bitcoin China, Huobi and OKCoin, accounted for more than 98% of the total transaction volume.
But after the central bank interviewed bitcoin trading platforms, Huobi, Bitcoin, Bitcoin Exchange, Yuanbao, Dahonghuo and other platforms announced that they would charge a 0.2% service fee for bitcoin transactions. The hot bitcoin transactions were also poured with cold water. "Before, China's trading volume accounted for more than 95% of the world, but now it is only about 20% to 30%. It's not that foreign bitcoin transactions are hot, but that no one is buying and selling now, it's not cost-effective." Lin Xiang said that the transaction commission of the stock market is only 0.03%, but now both buying and selling bitcoins will be charged a 0.2% service fee, which is equivalent to 0.04%. For active players who buy and sell thousands of times a day, the commission for a day may exceed 10%.
Will people with money still invest in Bitcoin now? Lin Xiang said that he probably won’t because the price is too high. Lin Xiang said that the main reason why Bitcoin can rise is due to the push of off-market funds. If the funds withdraw, Bitcoin, which has no practical application value, will definitely return to its value.
Is it a Ponzi scheme or a currency revolution? Bitcoin may affect the financial order
At the beginning of last year, the price of Bitcoin was only around 2,750 yuan. On January 5 this year, the price of Bitcoin reached its highest point in history, reaching around 8,890 yuan. However, after the central bank interviewed the relevant platform managers, the price of Bitcoin plummeted to around 6,300 yuan within two days, with a cumulative decline of up to 30%.
After the news that the central bank had entered the three major exchanges for on-site investigations on the evening of January 11, the price of Bitcoin fell below 5,000 yuan per coin on January 12, and has since gradually rebounded.
Yesterday, Bitcoin wallet platform HaoBTC announced that it would remove the "trading platform" application built into the wallet and stop the RMB recharge business from February 15. Previously, after the central bank again interviewed Bitcoin trading platforms, Huobi, Bihang, Bitcoin China and other Bitcoin trading platforms stopped financing and lending business and started charging service fees on January 24.
As a virtual item, how to view the value of Bitcoin is the biggest controversy since its birth. According to the current price of a house in Hangzhou of 2 million yuan, a down payment of 30% is only 600,000 yuan, which means that only 90 Bitcoins are enough. If you want to buy a 300,000 family car, you only need 45 Bitcoins. But in reality, Bitcoin is not a currency, let alone a virtual currency.
Central banks in many countries are quite cautious about Bitcoin. One extreme view is that Bitcoin is just another replay of the tulip bubble, and even to some extent is no different from a Ponzi scheme; another extreme view is that Bitcoin is a revolution in the history of human currency, representing the ultimate direction of human currency in the future. The current mainstream voice believes that the regulation of the Bitcoin platform is not yet perfect, and each institution holds a large amount of user funds and Bitcoin. If risks occur, it will be a great threat to the public interest and affect the financial order. |
