Bitcoin, one of the most famous P2P cryptocurrency, has been said as “The Most Dangerous Project We’ve Ever Seen”. And cryptocurrency is indeed a very hot topic talked by the whole world while the price soared from almost nothing to as high as 1200 USD per unit that was higher than the price of gold per ounce.
Why do so many people believe in bitcoin and invest their fiat money on it? There is no secret that the foundation of bitcoin protocol is basically solid, such as the total amount is fixed as 21 millions, double spending not possible, and complete ownership of your bitcoin once you know the private key. To some extent, bitcoin is a kind of digital gold except it does not have the physical properties as the real gold has.
Even after so many times of accidents such as the collapse of Mt.Gox and Silk Road, the tight regulation from Chinese government, the price of bitcoin plunged and later soon bounce back. The fluctuated price of bitcoin does show the strong support from bitcoin community. This kind of phenomenon really makes bitcoin a special concept.
I have been following cryptocurrency for several years. In my opinion, no matter wherever bitcoin goes in the future, bitcoin will not at least disappear from the internet. It is supported by the powerful mathematical algorithm behind bitcoin on the one hand, and on the other hand, the belief of lots of people who do not believe governments and banks will always attract them to bitcoin. Bitcoin means true freedom of your wealth, of course, the precondition is you believe in that it is money.
No matter how far science has developed, religion still pays a very important role in people’s life, and the root cause of wars, conflict in the nowadays world always comes from different religions. Now, I think bitcoin is also a kind of new religion on the internet, just as said:
“In Computing We Trust”.