Bitcoin is not far from crashing, the reason being that the United States seized 127,271 bitcoins held by the Cambodian Prince Group, worth over 15 billion US dollars.
When this news came out, my first reaction was that the years of hype around bitcoin's 'decentralization' and 'absolute security' had all become a joke.
I often heard people who play with bitcoin say that it is a distributed structure, with no central authority managing it; as long as you keep your keys safe, no one can take it away.
But what happened? With a single statement from the United States, over a hundred thousand bitcoins were seized, which is hardly what you would call absolute security. Clearly, in the face of absolute power, all the technical gimmicks are rendered useless.
To put it bluntly, the security logic promoted by bitcoin is like a child playing house saying, 'I hide my toys really well, no one can find them.' But when faced with adults who are serious, they can easily uncover the toys with just a casual search.
Now let's talk about the actual use of bitcoin. Don't bring up future currency or value storage; anyone with eyes knows that its core function is money laundering.
Because it can bypass the banking surveillance system and does not have to go through formal transfer processes, that dirty money can be converted into bitcoin and transformed into 'clean money' after a few trades.
In the past, people thought that bitcoin transactions could not be traced; as long as operations were covert, no one would be able to monitor them.
But this time, the US seizing the prince group's bitcoins directly exposed a truth: it’s not that they couldn’t monitor, it’s that they hadn’t seriously monitored before.
Since the US can accurately target the flow of these over a hundred thousand bitcoins, it shows they have long mastered the tracking technology for virtual currency transactions; they just hadn’t taken large-scale action for various reasons before.
Now it’s different; not only the US but Europe is also starting to discuss regulating virtual currencies, and all kinds of norms and agreements are about to be implemented.
Looking at bitcoin now, it has no actual value; it can’t be eaten or worn, and its price is entirely supported by speculation and hype.
Once global regulations tighten and the path for money laundering is blocked, those with speculative mindsets will definitely sell off wildly. At that time, a decline in bitcoin prices will be inevitable, #加密市场反弹 #现货黄金创历史新高 $BTC
