For many years, a saying has circulated in the crypto space: 'The biggest risk of Bitcoin is not being able to hold it.' Essentially, 'not being able to hold it' belongs to the issues of cognition and information asymmetry. Since the birth of the Bitcoin genesis block, 16 years have passed, and many people still feel that Bitcoin is 'elusive' and worry excessively. Rather than discussing 'what is the biggest risk of Bitcoin,' it might be more relevant to explore whether people's biggest concerns about the existence of Bitcoin are actually unnecessary...
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The 'virtual' attribute of crypto assets
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America's harvesting tool?
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Financial inequality and unlimited issuance?
Some people say that it is unfair for ordinary people today compared to early participants? This is what many people refer to as financial inequality. In fact, the Bitcoin network and community information are open and fair; as a public blockchain, it lies there like a public resource, and anyone can access the information and submit transactions to its network. It's just that some people are unwilling to understand and accept new things, unwilling to take a step forward.
Others say that Bitcoin's cap of 21 million does not exist because its smallest unit, Satoshi, is almost unlimited in quantity.
This is a somewhat strange perspective; changes in units have nothing to do with total quantity. 1 liter of water is enough for 1 person to drink; you can't say that if it has 1000 milliliters, it can be shared with 1000 people. The unit has changed, but the total amount will always remain the same.
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Summary
Overall, most people's opposition to Bitcoin is mainly due to misunderstanding. The era of 'virtual' has become a thing of the past; from a non-mainstream 'minor player' to a mainstream asset, Bitcoin's consensus and status have become increasingly solid over the past 16 years, now competing on the same stage as gold. The strong involvement of the United States currently does not appear to be a bad thing, but there are still many uncertainties, and we must guard against significant fluctuations. I still believe that crypto and AI will jointly lead the reshaping of the future of the digital age.
