When many people see these problems, they will talk casually about whether it is the currency with a high return rate that has risen many times. In life, most people know Bitcoin as a digital currency that can make money and even make it overnight. Of course, some people think that Bitcoin is a scam.
Bitcoin has been controversial since its development in 2008. Bitcoin is actually a virtual currency online. Bitcoin does not rely on specific currency institutions to issue it. It is generated through a large number of calculations of specific algorithms. It was originally proposed by Satoshi Nakamoto on November 1, 2008 and was officially born on January 3, 2009.
What is Bitcoin?
Bitcoin (Bitcoin, abbreviation BTC) sounds difficult to understand, but in fact, the positioning of Bitcoin is easy to understand. Bitcoin is a digital currency with a constant total of 21 million, and like the Internet, it has the characteristics of decentralization, globalization, anonymity, etc. Transferring Bitcoin to the other side of the earth is as simple as sending an email, low cost, and no restrictions. Bitcoin is therefore used in cross-border trade, payment, remittance and other fields. Is
Bitcoin legal?
Given Bitcoin’s leading position in the market and its integration into the global startup ecosystem, few countries declare Bitcoin illegal because it will affect all cryptocurrencies, especially Bitcoin. However, this does not mean that Bitcoin is a "fiat currency".
So far, Bitcoin has only been awarded the title of Bitcoin in Japan. Although Bitcoin is characterized as something rather than fiat currency, it does not mean that it cannot be used for payments, but rather that the use of payments is completely free-volatility due to the lack of centralized credit endorsement.
Different jurisdictions are considering what measures to take, and the methods are different: some smaller countries, such as Zimbabwe , have only made some sloppy statements, which can make people doubt the legitimacy of Bitcoin.
Larger institutions such as the European Commission (European Commission) recognize the need for dialogue and deliberation, while the European Central Bank (ECB) believes that cryptocurrencies are not mature enough to be regulated (although Bitcoin has a 12-year history, we can't help but ask when will we realize that it is actually mature enough).
Is Bitcoin a scam?
Bitcoin is not a scam, I won’t say the important things here three times. It has been more than ten years since Bitcoin was born. To this day, we can still often see articles such as "Bitcoin is a scam", so we can just laugh at it.
Why is Bitcoin not a scam? The reason is as follows:
The so-called Ponzi scheme is to make up for the fund loopholes in the previous stage through later funds, which is faked to be the illusion of 's return on investment , and then lure more people to participate.
But Bitcoin is more like a high-circulation securities. To the metaphor that people in the currency circle prefer, Bitcoin is gold at the code level. It can not only act as a hard currency in the virtual world, but also circulate in the trading market.
The most important thing is that there is no central organization in the Bitcoin system.
Since Satoshi Nakamoto invented Bitcoin in 2008, he retired two years later. Its core developer is a group of top programmers from all over the world. Their job is to maintain code and improve the Bitcoin system, rather than fooling ordinary people to buy Bitcoin.
Secondly, Bitcoin does not promise high returns.
If you buy Bitcoin, you will definitely have high returns, and no programmer will exchange 10,000 Bitcoins for two pizza worth $25.
After understanding the real mechanism and value of Bitcoin, you will understand that there is an essential difference between Bitcoin and "Ponzi schemes".
Although Bitcoin is not a scam, there are many other people who use Bitcoin to defraud everyone of their money. Therefore, everyone must pay attention to protecting personal assets and prevent those who use Bitcoin to commit fraud.
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