Figure: Everyday life has gradually accepted digital currencies such as Bitcoin to buy goods

Most cryptocurrencies are plagiarizing Bitcoin's original code  and operating model, but why can't one replace Bitcoin's status?

Bitcoin is still the most used digital currency by merchants, with the highest market capitalization and the largest trading volume. The biggest reason for Bitcoin to be invincible is people's recognition and trust. Although the supply of bitcoin is limited, this is not why he can dominate in cryptocurrencies. People's trust in bitcoin is the key.

The author once introduced in this column that the blockchain technology derived from Bitcoin has the following application─cross-border paymentscenarios for the actual life of ordinary people: reduce users' repeated submission of certification materials and improve efficiency. Intellectual property rights: digital confirmation, authentication, traceability, identity verification. Social welfare: transparency of public welfare, public governance, and improving the efficiency of government work. Food safety: food traceability, food certification. Medical treatment: realize medical records management, privacy protection, data sharing, simplified medical procedures, drug traceability, prescription management, etc. Energy: electricity trading, carbon emissions, gas stations. Education: storage of academic information, establishment of student credit system.

Can I use digital currencies such as Bitcoin to buy goods in my daily life?

The following are known can buy these products and services ─ pizza with Bitcoin:The first local tyrant to buy pizza with Bitcoin is LaszloHanyecz. He once bought 2 pizzas with 10,000 bitcoins. Space Ticket: Richard Branson's Virgin Galactic can use Bitcoin for space travel. Travel around the world: Royal Caribbean seafarers stop in Malaysia for hundreds of cruisers from Singapore to Thailand. Cruisers have one thing in common: they all pay for the journey with Bitcoin.

Second, they convened the largest Bitcoin theme. Luxury Resort: The Trump Hotel accepts Bitcoin for apartments. Tuition: King's College, ESMT Berlin, and University of Cumbria accept Bitcoin for tuition. The Swiss Academy of Applied Sciences and Arts Lucerne has also been accepting BTC payments since September 

last year . Luxury cars : Japanese cryptocurrency exchange bitFlyer has partnered 

with several luxury car sellers to provide bitcoin payments for high-end cars. 

Artworks license: AtoGallery sold an artwork with an estimated value of no more than 100,000 US dollars for an amazing 150 Bitcoins. Electronics: Microsoft, 

NewEgg and Overstock.com accept digital currency payments. Electronic products such as laptops and smartphones were the first products to be paid by BTC . Plastic surgery: At the Vanity Plastic Hospital in Miami, Florida, plastic surgery such as abdominal liposuction and breast augmentation can be paid with Bitcoin.

As for Hong Kong, home appliances brand named Pricerite has been actively promoting new retail and digital change new, today announced thatIt is announced today that customers will accept payment in three virtual currencies: Bitcoin, Ethereum, or Litecoin, and settle their accounts at the real-time Hong Kong dollar exchange rate. Pricerite is the first large retail chain in Hong Kong to accept virtual currency payments across the board.

From 2009 to today, Bitcoin has experienced many shocks and the shock of people's confidence, but the number of merchants who accept Bitcoin continues to increase, and the operation has never stopped. The main reason is that the operation is completely transparent and open, except for transaction identity and place names. Bitcoin's source code is public, and people in the technology industry who can understand the source code are the first to identify with him.

The upsurge of the issuance of more than 600 cryptocurrencies will inevitably go bankrupt, but it is only regarded as a currency development process. We can learn from the chaotic history of currency issuing.

In the 19th century in the history of Hong Kong banknotes, banknotes were 

issued by commercial banks. Although the government was collecting taxes and government fees at that time, it only accepted banknotes issued by banks registered under the "Emperor's Order" and under the Colonial Regulations, but Still unable to stop other banks from issuing notes. The biggest problem with too many other commercial banks issuing banknotes is that they are prone to bank failures.

The transactions on the blockchain are open and transparent, the distribution of 

" mining " and the number of users is also public, and the difficulty of calculating the hash function is also public. These materials are important. For example, the longer the transaction blockchain display system, the stronger the anti-hacking ability. The distribution of mining and user numbers shows whether the distribution of peer-to-peer networking is dispersed. For example, when the mining rate of an institution reaches 51% , the system may appear 51% attack. Users can ring the alarm or sell in time.