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Bitcoin is being marginalized

The foundation of virtual money supported by faith began to shake

Domestic regulatory upgrading is an important incentive for bitcoin's demise this time. On the other hand, Musk's sudden defection is reasonable. The energy consumption of bitcoin mining machines has become a consensus in the industry, and the attitude of regulatory agencies in various countries is also very clear. Most of the supporters of bitcoin are speculators and early profiteers in the Ponzi scheme. It is undeniable that nowadays these supporters still have the courage to all in. However, few institutions dare to buy bitcoin on a large scale, so as to avoid the traditional banking industry cutting off business contacts with bitcoin trading platform one day. In the final analysis, the massive purchase of legal tender is the cornerstone of bitcoin value. After many currency circle earthquakes, the foundation has become increasingly soft.

The financial stability and Development Commission of the State Council has put special emphasis on cracking down on bitcoin mining and trading, which is the pressure of the existing financial system on bitcoin. It is hard to say whether the central banks of other countries will jointly strangle bitcoin, which mainly depends on the transaction volume of domestic virtual currency business. In addition, restricting bitcoin transactions through operating systems and software apps is also a potential regulatory means. Currency issuing and management institutions in various countries will not allow bitcoin to circulate as legal currency.

Concerns of minority players

It find amusement when the occasion arises. The bitcoin payment platform is just a matter of play. After all, bitcoin payment platform, payment method and management are hard to be universal as Alipay WeChat. The so-called global liquidity is just an ideal state imagined by bitcoin believers.

Bitcoin miners, on the other hand, are also speculators. At present, domestic bitcoin "mines" are concentrated in clean energy areas such as Sichuan and Inner Mongolia. Of course, the main reason is the low electricity charge. Domestic boycotts are not just slogans. When the national regulatory level realizes this kind of speculation, the conscious power failure will cause a fatal blow to the miners. After the issue of energy consumption is widely publicized by musk, the pressure of countries on mining will be further increased, which is another important factor for the marginalization of bitcoin.

Retail investors obsessed with bitcoin leverage

2% of the holders have 95% of the available bitcoins, and the high proportion of retail investors is the main reason for the regulation. Be completely indifferent when the money is being promoted by the public. Retail investors tend to make profits through multiple leverage, which also increases the probability of burst positions. The speculative psychology of retail investors in bitcoin trading market is somewhat similar to that of real estate speculators in the past few years. The difference is that house prices will not plummet after a sharp rise. The underlying supply and demand relationship determines the value of real estate, but no one and no professional institution price virtual currency.

Conclusion: the so-called decentralization is just the hidden rules of black market trading after being beautified by market butchers, and bitcoin will be marginalized sooner or later.


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