Many people have been speculating on coins for a long time, but they don’t know the underlying logic of BTC’s success:
As a black hole that continuously absorbs legal currency
There are four factors for BTC’s success:
1. Decentralization (no centralized person or organization can do evil)
2. POW mining (electricity costs determine the cost of COIN)
3. Halving every four years, so the difficulty increases, the mining cost increases, and thus the price increases.
4. Use UTXO to record accounts to avoid double spending.
If there is no disruptive innovation on BTC, it is impossible to pose any challenge to BTC. Since ETH gave up POW, it has given up the track of world currency and turned to the direction of world computer. The ceiling is much lower. Even if ETH does not give up POW, it will not be successful as a world currency. It is better to give up early.
The two most important points of the nature of world currency: satisfying large-scale payments and satisfying long-term value-added value storage.
Many people say that the factor of BTC’s success is its consensus. It is estimated that speculating on coins has not yet started, and it still needs to learn.
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