#TRUMP市值突破

Personal cryptocurrencies are less about being currency and more about being a cultural phenomenon. Bitcoin still has the anchor point of 'mining'; the cost of mining effectively plays a role in establishing a certain unified consensus—much like mining for gold, miners believe that over the long term, the price of the currency will always be higher than the cost; and buyers also think: since mining is so expensive, the price shouldn't drop too much.

Here, while theoretically the price of Bitcoin may not be related to mining—like if someone spends 50 years making a very poor handicraft, it doesn't mean that the handicraft will be highly valued. However, the cost of mining serves as a 'Schelling point', which helps unify market beliefs.