Bitcoin will be widely accepted as expected, making it go crazy

Bitcoin (Bitcoin) will be widely accepted as expected to make it go crazy.

local time November 27, the Japanese Mt.Gox trading platform shows that the price of Bitcoin has exceeded the 1000 dollar mark, in less than one months to achieve 400% of the increase in the meantime, including the Wright currency (Litecoin) A variety of virtual currency prices also achieved double-digit growth.

As of 28th 21:30 in Beijing, Mt.Gox trading platform shows the latest price of bitcoin is 1145 U.S. dollars, bitcoin China platform shows the latest price of 6498 yuan. Both are currently the world's most active Bitcoin trading platform. Some analysts expect the price of bitcoin to exceed 1 ounces of gold over the next few days, at a cost of about 1250 dollars/ounce.

Bitcoin can be traded 24 hours a day throughout the year. It does not rely on the central bank supply, but rely on people with computer programs to run a specific algorithm to obtain, commonly known as "mining." The number of Bitcoin is limited, at the present stage is 12 million. According to calculations, by 2140, the total amount of Bitcoin will reach a maximum of 21 million, no more.

Although the first half of bitcoin is like a roller coaster, ups and downs, but since November, Bitcoin has continued to rise, November 7, a record 321 U.S. dollars, 11 days after November 18, the United States Senate hearing delivered positive news-Bitcoin is not illegal currency, Can bring benefits to the financial system – once again pushing bitcoin to a 900 dollar high.

In addition to the huge demand in the Chinese market, U.S. financial regulators appear to be bracing themselves, and the increase in Bitcoin exposure has also given consumers a change in their perceptions, according to Wired magazine.

Using Bitcoin, you can buy beer in Berlin, Germany, buy pizza in Amsterdam, Edinburgh, rent a taxi, go to college in Nicosia, Cyprus ... It seems that every day, there are new businesses to join the circle, accept customers to pay money in Bitcoin.

The global pursuit of Bitcoin has also allowed other virtual currencies to emerge and rise rapidly.

The Wall Street Journal says there are at least 80 new currencies, ranging from dots (peercoin), namecoin to World currency (worldcoin) and stray coins (hobonickels). In October and November alone, developers launched the coordinate currency (gridcoin), the Firefly (Fireflycoin) and the Zeus (Zeuscoin).

As of 28th 22 o'clock in Beijing, the Coinmarkertcap website shows that bitcoin and the Wright coins have become the two main virtual currencies. In the past 24 hours, the market value of Bitcoin reached 12.583 billion U.S. dollars, the price rose 13.5%; The Wright Dollar ranked second, with a market capitalisation of more than 1.1 billion dollars and a price increase of more than 96%; the price of the currency rose more than 102%, although the market value was only 116 million dollars.

Compared to bitcoin, the development of the Wright coins is slightly slower. Charlie Li Hu, a former Google employee, said the Wright dollar was more plentiful and lighter in size. Mr Li estimates that the value and acceptance of the Wright currency are about two years behind Bitcoin, but the bitcoin itself is a few decades away from its peak.

But another important feature of Bitcoin, as a "borderless" currency, is that once it collapses, no government will be able to bail it out.