Since the release of the Bitcoin whitepaper in 2008, BTC has become the most controversial asset worldwide. From the moment the first transaction was made, Bitcoin's wild price swings have attracted countless eyes—rising over ten million times in ten years. Such a miracle is enough to fascinate or terrify anyone.

But here’s the question: What exactly is Bitcoin? Why is it so important?

Many people didn't realize that Bitcoin is actually the last piece of the puzzle in the internet world.

Imagine this. The internet has brought revolutionary changes to our lives, but it has a fatal flaw. When you send a photo to a friend via WeChat, they receive it, but the photo still exists on your phone—you've only sent a copy. Files and videos are the same. This poses no problem for data transmission.

But money is different.

If the internet allowed you to transfer 100 yuan to a friend, but the 100 yuan still remains in your account, that would be a joke. This is called the "double-spending" problem—the same money being spent twice. Pure internet technology simply cannot solve this problem.

So why can we now use WeChat, Alipay, and UnionPay for transfers? The secret is simple: we rely on these giants and intermediary institutions to help us solve this problem. When you transfer 100 yuan to a friend, these platforms deduct the money from your account and transfer it to the other party's account, with an authoritative institution providing endorsement, ensuring the legitimacy and uniqueness of the transaction.

But this means every transaction requires third-party approval. The emergence of Bitcoin aims to solve the double-spending problem thoroughly through technological means, without intermediaries. This is the true value of Bitcoin.