Bitcoin in adjustment needs a stable market to stabilize its consensus system
After the market shock in May and June, Bitcoin seemed to be sluggish, causing its value to be nearly 50% off. However, Bitcoin made a good start in July. The price has been above US$32,000 for several days, keeping Bitcoin's bottom line. Bitcoin desperately needs a stable market price to stabilize investors' confidence, which is conducive to the long-term stable development of Bitcoin. Although Bitcoin is now large in scale, compared with the traditional monetary system, Bitcoin still lacks some foundation.
What Bitcoin needs most now is for the market to give it time to develop, or to give it an opportunity to stabilize the consensus system. A stable consensus system is the underlying foundation that Bitcoin lacks. Many people may just see the characteristics of Bitcoin that can be hyped and regard Bitcoin as a highly speculative financial management tool, but don't forget what Satoshi Nakamoto originally designed Bitcoin? Bitcoin as a cryptocurrency, Satoshi Nakamoto designed it to treat it as a brand new currency system.
Although there have been many disputes over whether Bitcoin is a currency system, this is the core value of Bitcoin. Based on whether Bitcoin is a currency system, a huge consensus system has been established around Bitcoin. The scale and stability of this system are directly related to the future of Bitcoin. However, there are many purposes for supporting Bitcoin. Some people are optimistic about the future of Bitcoin, and some want to use Bitcoin to do something ugly. In theory, no matter what kind of people, as long as they pay attention to and use Bitcoin, they will play a role in promoting the development of Bitcoin.
George Soros’ funds pay attention to Bitcoin, which is not good news for Bitcoin
Now that Bitcoin has been highly controlled, it means that a large number of capital giants are supporting Bitcoin. This is actually good news for Bitcoin itself. The importance of capital to this society is self-evident. Sometimes ordinary people only passively accept things supported by capital giants. Of course, this is not friendly to ordinary people, which means a new monopoly problem, but this is all for later. In theory, the more people support Bitcoin, the more beneficial it is to the improvement of the Bitcoin consensus system, especially the support of capital giants.
However, I recently saw a piece of news that the investment fund of American billionaire investor George Soros is also paying attention to Bitcoin. I immediately felt that this is not favorable news for Bitcoin. To be honest, other capital giants or the IMF are concerned about Bitcoin, and I would think that this will be good news for Bitcoin. Because the mechanism of Bitcoin is special after all, whether it is short or long, it will promote the development of Bitcoin. But only George Soros gave me a special impression. When I saw him, I immediately thought of two things, the prestigious Quantum Fund and the things they did in the financial market.
George Soros' life is full of controversy. From a purely financial and investment perspective, he is a very successful investor. But from another perspective, George Soros is another speculator for profit, and his way of making money has always been controversial. Back then, the Quantum Fund under the leadership of George Soros united some capital giants and made profits in the market many times. It took advantage of the instability of the monetary system, and then seized some loopholes in the financial market, making markets in many regions very nervous.
If Bitcoin is controlled and manipulated by capital, it will not be good news for the world
Imagine George Soros and the others dared to short some legal currency systems, then Bitcoin may become their short-selling object. This is also my concern about the Bitcoin consensus system. Any currency system needs to be established on a stable basis to protect the interests of users. If it has been abnormally large fluctuations, it will become a tool for others to harvest wealth. Although many people think that they can make money by hyping Bitcoin, they are actually just doing other people's wedding dresses.
Of course, Bitcoin has always had a short-selling mechanism, so even without the participation of the George Soros family, someone will take the opportunity to short Bitcoin. However, people who have not paid attention to George Soros and Asian financial history cannot appreciate the greed and fear of capital. If capital giants such as George Soros use Bitcoin to impact the market in a region, it may have a very large impact. Don't doubt the destructive power of capital giants, their energy and influence are enormous.
The influence of currency is not weaker than conventional competition. Maintaining the stability of the monetary system and financial system is one of the foundations of a country's development. Friends who are interested can read the book "Currency". Meyer Rothschild once said a classic. If Bitcoin is really controlled and manipulated by capital giants, then it will not be good news. You must know that capital giants mainly use various means to make profits.
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