Bitcoin, you should think of it as gambling.

Bitcoin, you should think of it as gambling.

Currency plays a very important role in the economy, like the blood of our body. The economic function of this currency is largely divided into basic and derivative functions.

First, the basic functions include the function of a transaction means and a value storage means. This basic function serves to set the scope of the currency.

Next, derivative functions include the function of the accounting unit, the function of the payment method, and the function of the transaction ratio.

These derivative functions also play a very important role, enabling rational management of the national economy and companies, revitalizing commodity and financial transactions, and determining prices and transaction ratios, contributing not only to economic growth but also to market development.

Bitcoin experts argue that someday virtual currency will replace legal currency. How futile this argument is can be easily determined by considering what will happen if virtual currency replaces legal currency.

Cryptocurrencies such as Bitcoin have been soaring and plunging. Therefore, if virtual currency replaces legal currency, the price tag of the product must be changed every day, or every hour. This is because the value of virtual currency changes rapidly every hour.

What will happen in this case? The production, consumption, and distribution of the national economy cannot be achieved smoothly, and in the end, not only the market but also the national economy collapses. Is virtual currency still economic?

Above all, monetary and financial policy plays a more important role than anything else in the stability and growth of the national economy. This is especially true because fiscal policy can cause stagflation or hyperinflation.

Nevertheless, why is virtual currency traded and its value soaring? This is because virtual currency is the same as gambling coins in gambling halls. Gambling coins play a decisive role in gambling halls.

However, gambling is more addictive than drugs. Just as gambling leads to bankruptcy, it is obvious that if you stick to Bitcoin, not only individuals but also the national economy will eventually collapse.