Although bitcoin has reached a high price of US $58000, in fact, there are not many people who pay attention to and use bitcoin. Bitcoin is still a minority. When discussing bitcoin with netizens, I found that many people still don't know enough about bitcoin, and there are many misunderstandings about bitcoin. Whether they are netizens who support bitcoin or netizens who oppose bitcoin, they may ask some strange questions. I've been writing about bitcoin in recent months, and I've replied to countless netizens' questions. Here are five common misunderstandings about bitcoin.

First, let's talk about the total amount of bitcoin. Some netizens don't quite understand the total amount of 21 million bitcoins. They think that the total amount of 21 million bitcoins can't meet the market demand for bitcoin. Someone once asked me, how can a bitcoin worth more than 50000 US dollars be taken out to buy something, which is not suitable for trading at all? Although the total number of bitcoin is only 21 million, it can be divided into less than 0.00001, that is, 210 million or 210 billion. As long as the market needs, bitcoin can be decomposed infinitely in theory, so bitcoin is enough to meet the market demand.

Second, the price of bitcoin is very high now. I think that people who speculated in bitcoin before made a lot of money. In fact, this is also a wrong understanding. In fact, except that bitcoin miners are the biggest beneficiaries of bitcoin, other people who hype bitcoin may not be able to make money. And even the income of miners is not as high as expected, because although the price of bitcoin has reached 58000 US dollars, few miners have been able to hoard bitcoin until now. As for other people who hype bitcoin, whether they are long or short, they are likely to lose money.

It's too early to say that people who hyped bitcoin before all made money

The most important point is that a large number of bitcoins have been hoarded, which is also one of the main factors driving up the price of bitcoin. However, if these bitcoin giants want to cash out now, they are under great pressure, because the market may not be able to digest so much bitcoin. Now, although these bitcoin giants make a lot of money on their books, they can only be said to be floating profits. Only after they succeed in selling, can they be said to be making money. However, if these bitcoin giants sell bitcoin and the market is unable to digest it, they are likely to turn profit into loss. It's too early to say that all the people who hyped bitcoin before have made money.

Third, the price of bitcoin is very high. Many countries and institutions have supported bitcoin. Does it mean that bitcoin can be used freely all over the world. In fact, bitcoin now seems to have a great influence, but these are mostly appearances. The active accounts of bitcoin do not exceed 10 million. In fact, there are not many people who only speculate on bitcoin, and there are not many people left. Bitcoin is just a little bit of thunder now, and few people really use bitcoin to trade.

Fourth, some netizens don't know enough about the risks of bitcoin. Hyping bitcoin doesn't only refer to those who hold one or 0.1 bitcoin. Their risks are often controllable. As the saying goes, gambling is not a loss. At present, retail investors who used to hold bitcoin are unlikely to lose money according to the current trend. But they are not the only ones who hype bitcoin. Many people also hype bitcoin futures. This is the real gambler of bitcoin. I want to know about the risk of futures market. Everyone who knows about stocks knows that if it is combined with the high leverage of financing, it will not give you the chance to bet or lose.

Under the temptation of highly leveraged funds, bitcoin price change a point, it may make people burst positions

Some people may not understand the role of leveraged capital in the bitcoin market. Leveraged capital represents high yield and high risk, which is one of the charms of bitcoin futures. For example, someone uses $100000 plus 100 times leverage to long bitcoin. If the price of bitcoin falls by one point, without margin call, he will be blown out and directly lose $100000 of the principal. In the same way, if the price of bitcoin goes up a bit, it will make a net profit of $100000. Of course, the actual operation, also need to pay interest and other related costs.

The fifth and the most important point is that many people love to say that when a bitcoin is 100 dollars a piece, many people say it is a bubble. How can it be said that it is a bubble now? 60000 dollars. In fact, whether bitcoin is a bubble is not directly related to what it is worth, whether it is not directly proportional to the value of the bubble and how much it is worth. The chip of the casino the casino says it's worth as much as it's worth, but in essence it's still the chip of the casino. It is probably too early to define whether bitcoin is a bubble or not. When a large number of central banks of the world are issuing large numbers of digital currencies, they will have a look.

(2021-4-10)