Friends outside the circle often ask me: What is Bitcoin?

I usually tell them the basic concept of Bitcoin in my own understanding:

To sum it up in one sentence, Bitcoin is actually a kind of virtual currency in the world that is not restricted by national borders or central banks and can circulate freely.

The inventor of Bitcoin must be far-sighted. He saw the prospect that the legal currencies of all countries in the world will collapse under various irresistible factors in a few decades. As long as the electricity on the earth does not disappear, people who own Bitcoin can still preserve and maintain a certain purchasing power under irresistible factors and extreme environments.

There are more than 200 countries and regions in the world. The cultures, beliefs, languages ​​and financial systems of various countries are different. Whenever an economic crisis occurs, the financial systems of some countries will collapse, causing the wealth of their civilians to evaporate instantly. So is there a currency that can be used to break through the barriers of all countries in the world and can be used to avoid the irreversible risks caused by legal currencies in the global financial crisis? The birth of Bitcoin broke the shackles of all countries' banking and financial systems. This is called "decentralization", which is its core value. Simply put, if you hold RMB in the past, you need to convert it into other currencies according to the exchange rate to buy goods when you go to the UK or the US. This has a disadvantage. If you do business or live in a certain country, and the legal currency of this country depreciates sharply during a period of time, then your asset protection will have a great impact. For example, in Argentina in the past two years, the currency depreciated by more than 120%. If you live in Argentina and only hold pesos, it is very bad. In this case, holding Bitcoin is a good solution and avoidance of these problems.

The more humans develop and the more advanced technology is, the more frequent and fierce the competition for interests will be, and the unstable factors will continue to increase. War is always the norm in human society. For people, how to ensure the stability of assets and not be bound by the banking system (because the financial system can be easily destroyed in the global plague, war, etc., and the wealth of countless people will evaporate due to the bankruptcy of banks).Based on these needs, Bitcoin came into being.