Bitcoin has no ability to grow up in China, on the one hand, the government banned; on the other hand, the main network market like taobao.com（China's largest online shopping retail platform) has refused to accept bitcoin payment. Bitcoin produced in China will benefit the foreigners eventually without Alibaba’s support.
Google lives well without China, so the same with bitcoin. Bill Gates declared that “the prospect of Bitcoin is promising, and the world needs such an international currency.”
On the contrary,the critics believe that bitcoin’s value is unstable, and it’s hard to succeed. The output of bitcoin is determined by the algorithm, four years in half, thus bitcoin is bound to become a deflation currency couldn’t accepted by the world. Because of the inherent disadvantage mentioned above, bitcoin will fail. In addition, bitcoin is a money laundering network, a black income pipeline, not worthwhile to promote.
Bitcoin’s credit, just like the credit of gold and silver, belongs to nature credit, not government credit. And government credit means nothing while competition fades. I’m optimistic about the future of bitcoin, so I’ll just express some personal opinions about the ills of bitcoin.
Firstly, the instability problem of bitcoin’s value can be solved. The bigger Bitcoin trading volumes, the stronger correlation with the real economy, therefore, the big selling can’t affect its value. Meanwhile, when under the situation of small transactions, people can use financial futures to maintain its stability, and stability creates trust. If you are in fond of bitcoin, then buy it, why not just treat it as a newly currency experiment?
Secondly, four years in half, another feature of bitcoin, makes people worried about the deflation prospect of bitcoin, but at least we don't need to worry about it currently. Bitcoin growth rate is further higher than the average growth rate of the world economy. From the angle of this moment, Bitcoin growth rate is equal to the global economy, and that’s twenty years thing. What’s more, the deflation prospect problem could be solved during 20 years, Google's Android system is a good example (Achieving the same level of fluency like Apple by means of ART).
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