We have become the new barbarians

Living in this ever-changing information society, things change at the speed of seconds. The "Internet" that everyone talked about in the early 21st century has now become the norm in life, and it is out of date to talk about it again.

As the Internet generation, we have witnessed all the new concepts related to the development of the Internet, including mobile Internet, big data, O2O, Internet finance, Bitcoin & blockchain and other emerging Internet concepts. Moreover, the development of the Internet based on technology is still moving forward without boundaries. The only thing that fascinates me is the digital currency led by Bitcoin. It (Bitcoin) has become the new barbarian of this era, replacing other current Internet concepts and becoming the darling of capital pursuit.

Is Bitcoin legal?

Bitcoin is a digital currency (electronic money, electronic cash, cryptocurrency) generated on a global network-based electronic money payment system, which can be used as a payment unit of account. It can be understood by analogy with "gold" and "silver", and some people call it electronic gold.

When many friends heard me introduce Bitcoin, they kept their distance from it because they were afraid of it. Why?

On the one hand, the media demonized Bitcoin and criticized it, saying it was a Ponzi scheme or pyramid scheme. Over time, the people accepted this impression and thought the media was always right. There is really no way to refute this. Who told us that Bitcoin was indeed used by speculators to engage in pyramid schemes to cheat money? As the saying goes, good news doesn't go out, but bad news travels a thousand miles. This is just like other Internet technologies that have been used for bad things, and it still exists today.

On the other hand, people don’t understand Bitcoin. I think this is the biggest problem, because people are naturally afraid of unfamiliar things, not to mention that Bitcoin has been overly smeared. According to the survey, those who accept Bitcoin are elites. If they are all deceived, you really don’t need to believe it anymore. The fact is that even Asia’s richest man, Li Ka-shing, is investing in Bitcoin - investing in Bitpay, a Bitcoin payment company.

Therefore, Bitcoin is absolutely legal. There is absolutely no problem with its concept. The problem is that the speculators who entered the market later prematurely turned the advanced concept of Bitcoin into a speculative bubble, which even caused a large number of investors to leave the market at a loss. After leaving, they also discredited Bitcoin and said that Bitcoin was a Ponzi scheme.

According to the " Notice on Preventing Bitcoin Risks " jointly issued by the People's Bank of China and five other ministries , it has been clearly stipulated that " Bitcoin is a specific virtual commodity ... As a commodity trading behavior on the Internet, ordinary people have the freedom to participate in Bitcoin transactions on the premise of assuming their own risks. " Therefore, Bitcoin is absolutely a legal financial investment product that allows free trading.

Bitcoin Becomes the New Barbarian

It is important that everyone accepts Bitcoin, so I spent a lot of effort in the past to help Bitcoin get its name right. Literally, Bitcoin, in English , sounds like a currency. In fact, in this country's credit currency era, this is impossible. So Bitcoin is not a currency. It is a new financial product that can be invested freely.

Why is he said to be the new barbarian?

On the one hand, domestic policies have been liberalized, and financial market reform has entered deep waters, encouraging the integration of new technologies with financial markets. Imagine P2P private lending, which was illegal a few years ago, but today, after being combined with the Internet, even though various scams have occurred, it has finally been regulated and become legal.

On the other hand, the wealth of domestic people is growing, and investment demand is becoming more and more vigorous. The existing financial investment services cannot meet the growing investment demand. Bitcoin trading is T+0 and operates 24 hours a day, 7 days a week. As long as you invest rationally and control investment risks reasonably, Bitcoin is a good investment product.

As a new technology and concept, Bitcoin has been widely accepted by the elites and has gradually entered the homes of ordinary people. In addition, capital is always sensitive and will not miss any new and controversial concepts. They have already made arrangements to invest in Bitcoin. In this way, Bitcoin has become a new barbarian while being recognized by the whole society.

In recent years, various topics related to Bitcoin have been controversial. Perhaps, for you, it is barbaric at the moment, because it is subverting your understanding of life and entering your world in a slightly violent way. But when this round of changes takes place and a new industry structure is formed, the integration of Bitcoin and society will be closer, changing people's investment methods until it becomes the norm.

Even if Bitcoin disappears one day, it will never be the last barbarian, and digital currency will take root in the future of mankind. On the eve of this great change, please do not become a docile night watchman.