Bitcoin has become a competitor to the US dollar

As the saying goes, there is no such thing as a free lunch. From the perspective of global economic planning, the biggest loser may be the US economy. To some extent, Bitcoin has become a competitor to the US dollar, but at this stage, the purchasing power of the US dollar has suffered a certain degree of damage both at home and abroad. Now we need to consider not how much impact Bitcoin has caused, but what aspects it will impact in the future.

Any advice for consumers interested in using Bitcoin?

There are services out there like Circle and Coinbase that have a certain brand and if you join, it's a little bit of a security measure on your money, but that's not the pure way to use Bitcoin. The purest way to use Bitcoin is when you know your Bitcoin account and password, you are the only one who can access your money, and there is no other service or platform that can do that. If you lose your private password, then your money is gone, and that's a big danger that people find with Bitcoin. At a bank, if you lose your bank card password, they give you a new one, and there are real risks with that pure approach; but in some ways, if you want to understand Bitcoin, then you have to do it the way it is, like you are the person in charge of the Bitcoin account, and you can send Bitcoin to anyone anywhere.

If you want to use these services, you can see some new elements of Bitcoin, but not everyone can discover them. These are generally reputable and verified companies, like Circle and Coinbase and Xapo, which are unlikely to disappear in the middle of the night. The money invested in Bitcoin must be within your means, because investing in Bitcoin is very risky and it is very likely that the value of Bitcoin will be zero tomorrow. At the same time, it is more fun to explore than stocks. You own a stock and you can sell it or hold it, but Bitcoin is a little bit interesting because you can experiment with it and see how it works.

Summary: People who use Bitcoin actually reject this story. You can't find any other technology that people can devote themselves to. This is why I write about Bitcoin and what makes Bitcoin so attractive, especially on a spiritual level. It's not just one thing. The value given to Bitcoin is different in different places, such as China, Europe, Argentina, etc. It is a real window to this era, a window for us to understand why people are so passionate about it.

In the United States, financial transactions are a very private matter. Your personality is revealed by your credit card statements: where you like to shop, how you shop, how much you spend, etc. There is a reason why when people go missing, the first thing to look at is their financial records, because it tells you where they are and what they are doing. Today, these things are controlled by financial intermediaries, but in fact, you are the one who has the most power to reclaim control of information and where you want to spend your money. At the most basic level, people have a deep-seated feeling of having access to their own money at any time, and the promise of Bitcoin has a potential sense of freedom, so today's attitude towards Bitcoin is a response.