Money is trust.
The law currency we circulate is rooted in our trust in the government. If everyone does not trust the government, then the issuing currency is not worth it.
Bitcoin also can not bypass the issue of trust, the question is reliable trust it? Market panic, government interference, will seriously affect people's trust in Bitcoin.
Affect the monetary value, not only inflation this factor, the uncertainty of the crisis of confidence is also a big problem.
The law currency we circulate is rooted in our trust in the government. If everyone does not trust the government, then the issuing currency is not worth it.
Bitcoin also can not bypass the issue of trust, the question is reliable trust it? Market panic, government interference, will seriously affect people's trust in Bitcoin.
Affect the monetary value, not only inflation this factor, the uncertainty of the crisis of confidence is also a big problem.
You say money is trust, I strongly agree. What both parties to the transaction recognize is a general equivalent, that is, money. In the bitcoin system, I think there are two main types of trust: the first is trust in the algorithm. Mathematically guarantee that the public key will not calculate the private key, save the private key will always have their own private property. The second is trust in the entire bitcoin system. The calculation of the entire system network and mining algorithm to ensure that the system will not be easily attacked by 51%, there will be no double flower situation. So much effort can also ensure that these calculations will not easily withdraw and affect the system network security.