Because the economy is in a downturn, all industries are in a difficult situation and are very involuted, plus some unspeakable reasons. For ordinary people without background resources and connections, do they have any chance to turn around and change their fate, except in the cryptocurrency industry?
Unless you are gifted and can carve out a path in fields with extremely high knowledge barriers such as Douyin live streaming, AI, chips and semiconductors, or you can use the influence of your parents and existing relationships to find a stable job for yourself, otherwise, relying solely on personal labor and efforts, you will not make any waves in the foreseeable future.
Looking back at history, the dividends of any era are given to the most courageous and adventurous people of that era, rather than ordinary people who are diligent and hardworking. Think about the young people who took out all their wealth to start their own businesses in the early days of reform and opening up; think about the entrepreneurs who dared to borrow money from everywhere and contract factories during the restructuring of state-owned enterprises; think about the real estate speculators who raised funds everywhere to speculate in real estate after the 4 trillion yuan flood in 2008.
When the vested interests have transformed from "game participants" to "game makers", playing according to the rules they set will only bind you forever in their game, with no chance of success. When the income from your labor is less than one ten-thousandth of the other party's interest, all your efforts will be in vain.
Back to the topic, why do we need to speculate in cryptocurrencies?
1. What is the value of virtual currency?
First of all, we need to understand what currency is. Since the collapse of the Bretton Woods system, the issuance of currency in each country is only based on the credit endorsement of the government behind it. When we recognize the strong endorsement ability of a country, then its currency is very valuable, such as the US dollar. When the country behind it does not seem to be particularly powerful, people will wonder whether the currency of this country is valuable or cheap, such as the Zimbabwe dollar.
At this time, people were thinking about whether it was possible to create a currency that was not backed by any government, so as to avoid the financial risks caused by excessive money issuance. Bitcoin was born in such an environment. Through blockchain technology, it allows the "miners" who really work to be rewarded, rather than just rewarding the capitalists who occupy more resources. Its total amount is fixed, and the newly mined coins are halved every four years. By maintaining the currency stock and increment at an extremely low level, it not only meets people's demand for economic growth, but also avoids risks such as excessive money issuance. In addition, the currency has no entity and can be split to eight decimal places without loss, which ensures the convenience and practicality of the currency.
Moreover, some virtual currencies, such as Bitcoin, have inherent untraceability, which means that transactions cannot be withdrawn after they occur, which ensures the absolute safety of funds. If your money is in a bank account and it is frozen, you will completely lose control of your money. But you can rest assured that similar things will not happen with virtual currencies.
2. High risk of virtual currency
When a large amount of hot money is released by the central bank, capital will certainly flow into the market where there is more room for profit. Compared with the stock market and property market with complicated rules and regulations, the cryptocurrency market, a big casino that is open all year round and can be traded 24 hours a day, is more suitable for dealers to continuously reap profits. Therefore, they can repeatedly create gimmicks to raise the price of currency. After clearing the positions at the high point, they suddenly release bad news to crash the market, thereby continuously making profits by buying low and selling high.
3. High returns from cryptocurrency trading
The greatest charm of virtual currency lies in people's yearning for an extremely fair global currency that is not controlled by any government.
And because of the "halving" of Bitcoin every four years, the total amount of Bitcoin remains constant at 21 million, and there is no more than one. It will not be like some other coins that are over-issued at any time, and they can issue as many as they want.
Therefore, things are rare and valuable, which is why Bitcoin is so expensive. At the same time, the price is halved every four years, so every 3-4 years, there will be a big bull market in the virtual currency market.
How much return can virtual currency bring? From my personal experience, in September 2017, the price of Bitcoin was around $4,500; and now the price of Bitcoin has exceeded $70,000. If we look at other altcoins, such as ordi and pepe last year, the profits are even more amazing, and a hundred times the return is not just a pipe dream.
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