this report from the Bank of America Merrill Lynch analyst team bitcoin: Causes and consequences. Compiled by Tiger sniffing:
bitcoin: first evaluation
interference, limited supply and separability (divisibility)
we believe that bitcoin will become a major way to pay electricity providers, for traditional currency transfer service providers, bitcoin will develop into a strong competitor. As a medium of exchange, we believe there is clearly room for growth.
underground economy wealth storage mode?
has reported that bitcoin can help users avoid high taxes, capital controls and risk of confiscation of property. The correlation between the proportion of RMB in all bitcoin transactions and the price of bitcoin is becoming higher and higher, and is still increasing (Figure 1). That is to say, taking into account all bitcoin transaction data can be open access, and each one has a unique bitcoin transaction history can not be tampered with, will eventually limit use bitcoin in the black market and underground economy in.
bitcoin in the value of the storage function will affect its currency as a trading medium fluctuations. The high volatility of bitcoin, which is the result of speculation, is preventing it from being accepted as a means of payment for online transactions.
is a bitcoin bubble? That bitcoin will become an important tool for (a) two areas of electricity providers and financial transfers (two) is an important tool of reputation and silver similar value, fair price our (fairvalue) analysis showed that the largest bitcoin market capitalization of $15 billion (=1300 $1 bitcoin). This means that this year the price has turned 100 times the face of bitcoin growth is too fast, beyond the fundamentals of risk.
what is bitcoin
is a bitcoin Nakamoto (Satoshi Nakamoto, a pseudonym) a digital currency designed in January 2009. Bitcoin allows users to complete the payment in a centralized, peer to peer network, its unique place is that it does not require a central clearing center or financial institutions to liquidate transactions. Users only need to connect to the Internet and bitcoin software can be paid to another public account or address payment operations.
(Satoshi) is the smallest unit of bitcoin. 1 bitcoin contains 100 million Cong (Satoshi). In the design, the total supply of bitcoin bitcoin cannot exceed 21 million (i.e., 2100 trillion Cong). The total amount of bitcoins in circulation will be increased at a predictable pace