Bitcoin is madly hitting the weak spots of the current monetary system!

Bitcoin has two major features that hit the weak spots of the current monetary system. The first is decentralization - there is no issuing agency, so it is impossible to manipulate the number of issued coins. Its issuance and circulation are achieved through an open source p2p algorithm, which ensures that the currency value cannot be artificially manipulated by producing a large number of bitcoins. The second is scarcity. The total number is very limited and has a strong scarcity. The currency system had no more than 10.5 million in 4 years, and the total number will be permanently limited to 21 million thereafter.

Compared with the current currency, these two characteristics completely eradicate the basis for the central bank to create unlimited currency, or for the government to force the creation of unlimited currency, which leads to invisible inflation and invisibly plunders and devours the wealth of the people. Therefore, Bitcoin was very popular as soon as it was born and soon had a broad market.

The fact that Bitcoin can be so popular is a great irony to the current global monetary system, and it has caused central banks of various countries to reflect deeply on the current monetary system. Around 2013, Bitcoin developed very rapidly, which once made central banks of various countries feel like they were facing a great enemy, and even began to impact the current currency issuance system, and calls for replacing the current global monetary system were everywhere. In addition, some countries began to allow real currency to be exchanged for Bitcoin, and some influential financial tycoons such as Li Ka-shing invested heavily in Bitcoin, which made some countries afraid. For example: Joe Manchin, a Democratic senator from West Virginia, sent an open letter to multiple regulatory departments of the US federal government on February 26, 2014, hoping that relevant agencies would pay attention to the current situation of Bitcoin encouraging illegal activities and disrupting financial order, and asked to take action as soon as possible to completely ban the electronic currency. The People's Bank of China also publicly stated that it does not recognize Bitcoin and has begun to ban Bitcoin.