Due to different background and views of problem, each one has different understanding of Bitcoin. Gates said it was a technological work, while Munger said it was an untouchable rat poison. In some way, what they speak about can be justified.

Essentially, like HTTP or Bittorrent, it is a protocol based on Internet and an invention of genius, which makes unthinkable things possible.

One of the reasons bitcoin has been relatively successful in China is that the Chinese already have experience of using virtual currency, such as Q coins, which were introduced in 2002.

Q coins are issued by Tencent QQ – an instant messaging software service company with more than 800 million active users that offers a variety of services, such as online social games, music, shopping and microblogging.

From my experience, when asking Chinese people for their email address, around four out of 10 have an address on the QQ server.

Q coins can be purchased via a bank, telephone or Q card at an official price of 1 yuan per coin, and can be used for purchasing Tencent services, such as electronic greeting cards and online games.

On top of this existing exposure to virtual currency is the fact that bitcoin gives an opportunity for people to move money out of China and transact with international merchants/customers. This is important as there is currently a 350,000 yuan (around $50,000) limit on overseas investment.

Chinese exchange platforms, such as OKCoin, BTCC and Huobi, allow trading without charging a fee, thus, using bitcoin is faster and cheaper compared to traditional money transfer methods, such as Western Union.

This is important for the millions of Chinese who study and work abroad.

Zennon Kapron, financial technology expert and owner of the Shanghai-based consultancy Kapronasia, told CoinDesk that China's main experimentation in the bitcoin space is in trading and the manufacture and operation of mining equipment. He argues that, with this being the focus, bitcoin is unlikely to cause a financial revolution in China.

According to Kapron, to work in China, bitcoin has to become accessible and useful for the masses in daily transactions. This might be challenging. Merchant fees in China are lower than in the West and platforms such as Alipay and WeChat/Tenpay dominate the mobile and non-bank payment market.

While this might be true for the mainland, in greater China, and Taiwan, in particular, bitcoin seems to have a really kicked off.

For the developed and developing countries, maybe one day it will.
For the developed countries, I think it will take 20-50 years, and for developing countries, 40-50 years.
It may raise risks such as total control of electric currency system by government, when crisis happens, people can't control any assets in their hands but has to obey the rules of government banks.
However, I think it is a good way to strengthening the governance of corruption.

"Speaking to CoinDesk, some of the ecosystem's most frequent and most vocal investors are suggesting they are now working more closely with banks and putting an increased emphasis on projects that use the bitcoin blockchain or alternative distributed ledgers as a payments rail or distributed database."

I think it is the most inspiring news for bitcoin fans, for if banks begin to use bitcoin blockchain as payments rail, bitcoin will be accepted by more people for its excellent technology.

I like the slogan “If you can`t beat them, join them”. Bitcoin is hard to be surpassed by any other crypt currency in many aspects such as its stability, fans, widely usage for payment and so on.

Bitcoin is better than any other cryptocurrency for a simple reason that other cryptocurrency such as Litecoin and Dogecoin could hardly be used to purchase for retail commodities even if they are accepted by the dealers. And they are usually used for investment or storage value.

What is Bitcoin? Essentially, like HTTP or Bittorrent, it is a protocol based on Internet and an invention of genius, which makes unthinkable things possible.
In real life, it is said to be a government-free utopia, and also a big revolution in human history of economy; besides, it is regarded as the technological creation of genius and an open-source software with many defections; furthermore, it is used to be a tool of investment or speculation, and be regarded as the untouchable rat poison as well.
Due to different background and views of problem, each one has different understanding of Bitcoin. Gates said it was a technological work, while Munger said it was an untouchable rat poison. In some way, what they speak about can be justified. My only hope is that everyone won’t say Bitcoin a fraud. Don’t you think it illiterate to say so?

The rising of blockchain brings a basic issue that if the human autonomy should be replaced of technology. Even some experts on encrytion currency also show skepticism. The exchange is particularly vulnerable that the dealers could buy and sell bitcoins by US dollars, Euro and other currencies. However,the collapse of Mt.GOX caused many bad effect to bitcoin community. In this January, another exchange called Bitstamp was attacked by hackers who stole 19000 bitcoins, which made further blow of the whole industry.

Traditional currency will disappear and bitcoin  is legal foundation of digital economy.

The service of Bitcoin can meet the requirements of big trade and become a safe tool for storage of assets.

Litecoin and Dogecoin could hardly be used to purchase for retail commodities even if they are accepted by the dealers. They are usually used for investment or storage value.

There is more than a single reason for me to hold Bitcoin. In the beginning, I held it just for price increase, and then its price decreased a lot, I kept it because it was like my kid, when bitcoin was used  to purchase things, I thought its real value realized. And now, I wait it to be a true currency that would be accepted by people all around the world. As more and more digital currencies appear, Bitcoin has never been replaced.

On 2015 Northeast Internet and E-commerce worshop held on August 13rd, the domestic biggest Bitcoin Exchange Platform http://www.huobi.com/ was honored as Excellent E-commerce Service Award by its advantage of good service. Its united startup person Mr. Jun Du made a speech with topic of How to become the No. 1 in area of digital currency, and the data that he listed in this speech caught the eyes and praise of participants.

Mr. Du said that the daily trading volume of Huobi website has presented a surprising ascent trajectory since it started in September 2013. After coming online, the volume broke through 1,000,000 within 9 days, 10,000,000 within 50 days and 1,500,000,000 on the 180th day, which created the highest record around global bitcoin exchange platforms.Until now, the cumulative volume of Huobi Website has come to over 138,290,000,000 .Besides, Huobi has got the investments from Zhen Fund and famous Angel investor Dai Zhikang’s angel round investment two months after it came online, and got the A Round ten million degree US dollar investment from Sequoia Capital  which is the top risk investment institution of  Wall street.
Referring to the current status of Bitcoin, Mr. Du expressed that the price of Bitcoin is in its period of  consolidation, but the total number of Bitcoin users has come to 10,000,000, and accepted merchants of more than 100,000 including Microsoft, Dell, Dish and other  large multinational corporations. The financing amount of Bitcoin comes to 260,000,000 US Dollars in the first quarter of this year with year-on-year growth of 416%. The supervisor policy around the world is moving forward a standardized procedure.

It is reported that the main causes of Huobi Website’s growing to be No. 1 in short period are based on three elements: firstly, Huobi dares to break through the fixed rule within the trade and is the first platform to put permanent free charging fee for spot transactions; secondly, it always lays user service in the first place, based on the global trading character of bitcoin, Huobi Website is the first one to push out the exchange platform of customer service of 7*24 hours and VIP hierarchy; thirdly, it continually expands industrial latitude on the basis of its core advantage and pursues  Notably Awesome position in industry niches. At present, Huobi is leading the Bitcoin basic service and related financial tool development. Besides, to improve the whole development of the industry, Huobi has cooperated with PBC School of Finance, Tsinghua University to open the first program called digital capitalism research topic in China.