As the originator of the cryptocurrency world, Bitcoin is considered by most to be successful and may promote the popularity of cryptocurrency. The author of this article puts forward the possibility of “in case the bitcoin is not a tool to promote the popularity of cryptocurrencies”. The author takes Google as an example, saying that it is not the world's first search engine, so the winner of the cryptocurrency world is not necessarily bitcoin. What do you think about this point of view?
The cryptocurrency revolution is still in its early stages…
As shown below:
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When we surveyed various cryptocurrency projects around the world, we saw exciting innovation experiments.
The world's smartest mind is dedicated to the most challenging issues in computer science, game theory, and economics.
All of this is to solve a problem that has plagued the world for thousands of years – how to minimize the role of third parties in human transactions.
Nakamoto wrote in the Bitcoin white paper:
"Trade on the Internet almost requires financial institutions to act as trusted third parties to process electronic payment information…
We cannot achieve completely irreversible transactions, because financial institutions will inevitably come forward to coordinate disputes…
Because of the potential for a refund, it is necessary for both parties to have a trust… A certain percentage of fraud is considered inevitable.
In the case of physical cash, the uncertainty of these sales expenses and payment issues can be included, because there is no third-party credit intermediary. ” The Bitcoin system is the first answer to this problem.
But it will never be the last one…
Thousands of cryptocurrency projects have sprung up since 2009, promising to improve the pioneering concept of Bitcoin. Most of them ended in disastrous defeats, but some showed great potential.
This raises the question: What if Bitcoin is not a tool to achieve cryptocurrency?
Let us talk about this possibility…
See what they did
Many people will tell you that cryptocurrencies are fraudulent…
It doesn't seem to be everyone. The most well-known financial people of this era have been emphasizing this point for many years. However, they have been proved wrong many times.
Take a look at this tweet (when they criticize bitcoin, what is the price of the currency):
(Do your own research, don't trust "experts")
It depends on what they did, not what they said…
That's why a survey by financial giant Fidelity earlier this year was very interesting.
The results of this survey are:
– Nearly 70% of respondents said that certain characteristics of digital assets are attractive
– 47% of respondents believe that digital assets should have a place in their portfolio
– 72% prefer to buy investment products with digital assets, 57% prefer to buy encrypted assets directly, and 57% prefer to buy investment products related to digital asset companies
– 22% of institutional investors have a certain level of understanding of digital assets, most of which have been conducted in the past three years
– 40% of respondents said they are open to digital asset investment over the next five years
Digital assets are the future
In fact, large funds with billions of dollars are starting to invest in digital assets, perhaps this is only the first attempt, but it is finally starting.
Note that "digital assets" are used here instead of "bitcoin."
This is very important.
Although Bitcoin is still the originator of the field of encryption, the idea that its victory is inevitable is naive.
In the future, it is possible that the cryptocurrency has succeeded, but bitcoin has failed. It is also possible that Bitcoin has been there all the time, but other cryptocurrency items are doing better.
Don't forget that Google is the 21st search engine company in the world. Late Yahoo's search product for four years. We all know the ending of the story.
Similarly, a new cryptocurrency is likely to rise and ignite the world, replacing Bitcoin.
You must be open to this possibility, especially when it comes to technology.
For our part, we believe that the most likely outcome is that a series of cryptocurrency projects will be successful.
We do believe that Bitcoin has consolidated its strength as a “digital gold” and will be the backbone of the future economy.
But we also believe that in the next five years, more small currencies will have better returns.
You just need to know what you want and stay flexible in your mind.
Time will tell us everything, as always…