The rate of appreciation of Bitcoin has become the world's hottest investment.

Over the past week, Bitcoin has become the world's hottest investment target with an average of 100 dollars a day, and even the aunt of the market is asking, "What is Bitcoin's currency?" Why is it so valuable? ”

Since the birth of the 2009, Bitcoin is only a small number of geeks in the virtual world of the use of the experimental products, but just 4 years later, it has gradually integrated into the real economy, even the general public began to pay attention to and participate in the production and circulation of Bitcoin. It can be said that the current around Bitcoin has formed from the production, storage, exchange, payment, consumption to related derivative financial services, a relatively complete industrial chain, its ecosystem has begun to take shape.

The emergence of Bitcoin is in line with economists ' assumptions. Whether it is Hayek in the "currency of the non-state" to "want to abolish the central bank system and the private issue of currency to introduce free competition into the currency field", or Nobel laureate Milton Friedman suggested "the use of computer technology to build a more reliable monetary system than the national credit", Bitcoin is in line with the trend of monetary development.

But as with all the other lucrative new things that have happened, Bitcoin has not escaped the hype. We first need to clarify the logic: Bitcoin has no national credit or gold and other general equivalents to endorse, its value depends entirely on the market trust. In other words, the value of Bitcoin is determined by the ecosystem in which it is used, and the more people involved in the ecosystem, the greater the value of Bitcoin. It's not hard to understand why it took dozens of bitcoin to buy a piece of pizza 3 years ago, but today the pizza is worth millions of dollars.

This is the biggest problem that Bitcoin is facing: under the credit monetary system of the global easy environment, people's lack of confidence in the currencies of the countries and the pessimistic economic outlook are the big environment of the rise of the Bitcoin, and the development of the network currency accords with the direction of the future economic and social development. However, Bitcoin is still difficult to become the mainstream currency, when the remaining rationality away from the market, prices lose their original meaning, because the speculative frenzy has always been the end of the moment.