Unfortunately ,the focus of the argument is wrong .The main sense of bitcoin is not for whether it can replace cash ,but for whether a breakthrough can defeat some industries .
Compared with e-mail and internet creative application .But after 40 years ,we should admit that Internet enjoys endless uses ,while e-mail is one of them .Meanwhile ,currency is bitcoin creative application ,but it will not only be currency in the future .
The key to bitcoin is that it is able to finish the trade without the third-party payment .Bitcoin can finish the trade through distributed ledger .Of course ,users should activate the ledger slot .
The system obviously will make a challenge to existing payment industry—banks ,credit card companies and cable transfer department and other disintermediation .Bitcoin not only can decrease handling charge but can iron out the behavior cheating customers and stealing information .Boston Consulting Group report said ,last year ,the income between the global payment and financial trading service reaches 52.4billion dollars ,estimating the figure will increase to 1.1trillion dollars within 10 years .
But ,Surprisingly ,In theory ,the concept of distributed ledger owns different kinds of application ways ,not only for payment .Individually ,if you don’t need the telephone companies to specify telephone number for you ,what is the outcome ?Or if you search for something without Google ,what is the outcome ?It sounds intemperate ,but that time nobody can guess e-mail may destroy a disc entertainment.
“Many things live under the large organizations ,while they may be the challenging aim of bitcoin .”Bitcoin expert Anders Brownsworth in Boston said .
No wonder some famous risk investors pay more attention to bitcoin and some relative companies .For example , Andreessen Horowitz has invested 50million dollars to the industry . Accel Partners,which has invested facebook ,cooperates with Jeremy Allaire investing 9 million dollars to a newly bitcoin company .The investor ,who has invested Twitter ,recently cooperates with Union Square Ventures investing a bitcoin wallet company called Coinbase.
The investors all want to make profit from bitcoin trade .However ,it awakes me of Howard Anderson , who has founded Yankee Group and Battery Ventures,said in 2006 when talking about American speculative organizations invest Chinese entrepreneurship :many investors who invest Chinese entrepreneurship will be frustrated .But they said “I know this is the risking cost .”That is to say ,now you should gain some attack ,but later you will gain success .
Risk investors play a long –term game in Bitcoin .Because they realize that bitcoin has the ability to increase Internet function ,whether payment or other aspects .Finally ,they care little about the return from which currency .
Remaks: Due to language difference, sometimes people out of China can’t know what happened in China quickly. so we are here to make effort to change little,we will translate 3-4 bitcoin news in China to english everyday to help people out of China know what happened and what people thinks about bitcoin in China, If somewhere transalte not that good, pls PM us so thatwe can correct it.