What's wrong with bitcoin
bitcoin is a kind of P2P digital currency. Bitcoin is not issued by specific currency institutions, it is generated by a large number of calculations based on specific algorithms. Bitcoin economy uses a distributed database composed of many nodes in the whole P2P network to confirm and record all transactions. The decentralized nature and algorithm of P2P can ensure that it is impossible to artificially manipulate the value of bitcoin through mass proction. The design based on cryptography can make bitcoin only be transferred or paid by the real owner. This also ensures the anonymity of money ownership and circulation transactions. Bitcoin is a kind of network virtual currency with limited quantity, similar to Tencent's q-coin, but can be used for cash: it can be converted into the currency of most countries. The biggest difference between bitcoin and other virtual currencies is that the total amount of bitcoin is very limited and it has a strong scarcity. The monetary system has no more than 10.5 million in the first four years, and the total number after that will be permanently limited to 21 million. Another point is that you can use computers to make bitcoin. This is also the saying that there is bitcoin mining at present. In 2008, the global financial crisis broke out. At that time, someone published a paper under the pseudonym of "Nakamoto Tsung", describing the mode of bitcoin. This process can be understood as follows: every 10 minutes, a locked treasure chest will appear in the world, which contains a certain number of bitcoin. Who has the ability to open the treasure chest can get the wealth in the box.. In 2009, bitcoin, which is not controlled by the central bank and any financial institutions, was born. Bitcoin is a kind of "electronic currency", which is composed of a series of complex codes generated by computer. New bitcoin is manufactured through preset programs. With the increase of the total amount of bitcoin, the speed of new coin manufacturing slows down. Until 2140, the total amount of bitcoin reached the upper limit of 21 million, and the total amount of bitcoin g up has exceeded 12 million. Compared with legal tender, bitcoin does not have a centralized issuer, but is generated by the calculation of network nodes. Anyone can participate in the manufacture of bitcoin, and it can circulate all over the world. It can be bought and sold on any computer connected to the Internet. No matter where they are, anyone can mine, buy, sell or collect bitcoin, And in the transaction process, foreigners can not identify the user's identity information. The distributed characteristics of P2P and the design of no central management mechanism ensure that no organization can manipulate the value of bitcoin or create inflation< There are two sources of bitcoin, one is mining, the other is trading
bitcoin Mining:
to mine bitcoin, you can download the special bitcoin computing tools, register various cooperation websites, fill the registered user name and password into the computing program, and then click the operation to officially start. Bitcoin mining is becoming more and more difficult. Some time ago, we could dig one in a few days. In the future, we may dig one in a few weeks or even longer. What kind of mining is used? After certain settings, your "computer" is a miner, let it help you dig bitcoin
bitcoin Trading:
there are many online bitcoin trading institutions at home and abroad, which accept the exchange of bitcoin and legal tender. Among them, Mt. GOx is the earliest and most powerful bitcoin trading platform, which was established in Japan in 2010. Bitstamp and btc-e are the other two big foreign exchanges. There are also a large number of trading platforms in China. For example, btcchina (bitcoin China), founded in June 2011, is the first trading platform operating in China (the largest in China), and also the top three corporate trading platform in the world. In addition, since 2013, a number of emerging bitcoin trading platforms have emerged, such as btc360 (bitcoin 360)
3. Others
at first, the price of bitcoin, which only sold for 5 cents, once hit US $266, but after a few days, it dropped sharply to US $40. It is worth noting that in the recent round, bitcoin soared to more than US $1000, equivalent to RMB 7588.88 (bjtime20131130am10),. A large part of the reason is the power of the Chinese people. On the afternoon of December 5, 2013, the central bank issued the notice on preventing bitcoin risks, in which the central bank said that bitcoin is not a currency, but a virtual commodity. In addition, financial institutions and Payment institutions are not allowed to carry out business related to bitcoin. The release of this content undoubtedly has a significant impact on the market price of the special currency. As for the future, I want to use a classic slogan to describe it: everything is possible! Let's see... After all, it's a popular post. That's about it. If you want to know more about it, there are many related introctions on the Internet
bitcoin China
https://vip.btcchina.com/
bitcoin real time quotation
http://info.btc123.com/index_ Btcchina. PHP
Article source
http://user.qzone.qq.com/740046996/blog/1386598947
At exchange: a few mistakes about bitcoin, do you know
bitcoin, in a way never seen before, has an impact on the field of financial services. Whether in a bear market or a bull market, it has always been an old topic
because the underlying technology of bitcoin has been blockchain for ten years, and the technology content is high, many people do not understand it well, thus forming many misunderstandings
misconception 1: bitcoin is too expensive, a few tens of thousands of yuan, just wait and see, too expensive to buy
in most people's cognition, bitcoin can only be bought whole, which isolates those who want to invest in bitcoin. But in fact, bitcoin is divisible, and the minimum transaction unit is 0.00000001. That is to say, you can buy bitcoin for 100 or 200 yuan
in the future, with the improvement of people's acceptance and recognition of bitcoin, as well as the expansion of application, the price of bitcoin will also rise
misconception 2: the government can not regulate, which is beyond the scope of legal jurisdiction
in the early days, bitcoin was the hard currency of the underground drug market, with a transaction volume of millions of dollars each time, and there was a black market nicknamed "Silk Road"
However, at the beginning of the emergence of new technologies, it is always difficult to have written laws to regulate them, such as the beginning of computer and network applications. But in the end, these new technologies will graally come under the jurisdiction of the lawat present, bitcoin trading has been regulated in the specific legal provisions of New York State and other states in the United States. In 2014, the IRS recognized bitcoin as taxable property, and the securities and Exchange Commission has recently carried out strong supervision on it, so it is absolutely a misunderstanding that bitcoin is not subject to legal constraints. China and Japan have also begun to actively write laws and regulations related to virtual currency
misconception 3: bitcoin mining is too difficult, mining machine is a waste of resources
bitcoin mining is an energy intensive process. Because of its decentralized nature, no one knows the exact amount of electricity consumed by this process, but at any given moment, it could be billions of watts, roughly equivalent to the output of large-scale power stations such as the Hoover Dam
However, if we compare these with the management cost of currency, we can see some problems. Although the current currency does not seem to consume much energy, the cost of protection is not taken into account. For example, the security personnel employed by the bank usually just look at the customers and "waste" a lot of money and manpower, not to mention the towering buildings of the bank and the huge price paid for the safe payment system. However, if there is no security system, theft will damage the entire financial system, so this operation mode is not a wastemisconception 4: users of bitcoin are anonymous, and law enforcement agencies are traceless.
Nakamoto Tsung, the founder of bitcoin, claims that bitcoin can protect users' privacy, because most bitcoin software will create a unique pseudonym for each trader; Because of its anonymity, outsiders can not easily grasp the identity of donors
in fact, most users will leave a written record when they trade bitcoin in exchange for legal currency, and the user's identity is recorded in the transaction service with good reputation. Therefore, if the law enforcement agencies really want to trace, there are traces to follow
to sum up, bitcoin is a digital currency based on blockchain technology. As an emerging technology, it has unlimited application potential. This kind of decentralized application without government credit endorsement may achieve information transparency, security and efficiency. However, hacker attacks occur frequently. It seems that only when technology progress and supervision are in place can blockchain technology be applied globally and truly convenient to all aspects of life
it is a string of codes that can be traded on the Internet
you can understand it as the virtual currency of q-coin and gold panning coin
1. Bitcoin's long-term investors are turning into short-term investors
2. The transfer of wealth is behind the soaring price
3. Most of the transactions of bitcoin come from exchanges, and a large number of them are used in the real economy
4
Banks are not willing to cooperate with cryptocurrency companies and exchanges, and many operations are compliant
extended information:
purchase method:
users can buy bitcoin, at the same time, they can also use the computer to "mine" bitcoin according to the algorithm. When users "mine" bitcoin, they need to search for 64 bit numbers by computer
and then, by repeatedly solving mysteries, compete with other gold miners to provide the required numbers for the bitcoin network. If the user's computer successfully creates a set of numbers, it will get 25 bitcoins
e to the decentralized programming adopted by the bitcoin system, only 25 bitcoins can be obtained every 10 minutes, and by 2140, the maximum number of bitcoins in circulation will reach 21 million. In other words, bitcoin system is able to achieve self-sufficiency, resist inflation through coding, and prevent others from destroying these codes
Bitcoin is a kind of electronic cryptocurrency based on blockchain, which is decentralized, global, and does not need third-party institutions or indivials. Bitcoin was invented and founded by Nakamoto (pseudonym) on January 3, 2009, based on the peer-to-peer network without borders, using consensus initiative open source software. It is the ancestor of cryptocurrency and blockchain, and is also the cryptocurrency with the highest popularity and market value at present
generally speaking, bitcoin is a digital currency with a total amount of 21 million, which has the characteristics of decentralization, globalization, anonymity and so on, just like the Internet. Transferring bitcoin to the other side of the earth is as simple, low-cost and unlimited as sending e-mail. Bitcoin is therefore used in cross-border trade, payment, remittance and other fields
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extended materials:
the global financial crisis broke out in 2008. On November 1, 2008, a person who called himself Nakamoto published bitcoin white paper "bitcoin: a peer-to-peer e-cash system" on the P2P foundation website, stating his new idea of e-currency bitcoin. On January 3, 2009, bitcoin Genesis block was born
compared with fiat money, bitcoin does not have a centralized issuer, but is generated by the calculation of network nodes. Anyone can participate in the manufacture of bitcoin, and it can circulate all over the world. It can be bought and sold on any computer connected to the Internet. No matter where they are, anyone can dig, buy, sell or collect bitcoin, And in the transaction process, foreigners can not identify the user's identity information
as a standardized, globalized, highly volatile, 24-hour and never-ending trading target, bitcoin is more volatile than stocks, foreign exchange, precious metals and other electronic disk targets; In terms of standardized trading, soaring history and future prospects, it is better than the physical speculation targets such as stamps and coins, garlic, Pu'er tea and Huangli wood, so it has attracted a lot of hot money to participate in the speculation
at present, the funds attracted by bitcoin as the target of speculation far exceed the funds attracted by the payment system. At least half of the price of each yuan is the value of the target of speculation
reference: network bitcoin