Yongqi coin and bitcoin
litecoin (abbreviated as LTC, currency symbol: Ł) It is a kind of network currency based on "peer-to-peer" technology. It is also an open source software project under MIT / X11 license. It can help users make instant payments to anyone in the world
lightcoin is inspired by bitcoin (BTC) and has the same implementation principle in technology. The creation and transfer of lightcoin is based on an open source encryption protocol and is not managed by any central organization. Lightcoin aims to improve bitcoin. Compared with bitcoin, lightcoin has three significant differences. First, the lightcoin network can process a block every 2.5 minutes (instead of 10 minutes), so it can provide faster transaction confirmation. Second, the lightcoin network is expected to proce 84 million lightcoins, four times the amount of money issued by bitcoin network. Thirdly, the scrypt encryption algorithm first proposed by Colin Percival is used in lightcoin's workload proof algorithm, which makes it easier to mine lightcoin on ordinary computer than bitcoin. Each Leyte is divided into 100000000 smaller units, defined by eight decimal places.
There are two relations between bitcash and bitcoin: bitcash is the bifurcated and competitive currency of bitcoin{ RRRRR}
Second, competitive currency. As the name suggests, they are two competing currencies. It is just like the competition of two kinds of homogeneous goods in the market, competing for market share. In the virtual digital currency market, the market share is so large that more people hold one kind of currency, the number of people holding another kind of currency will be relatively reced, forming a competitive relationship between you and me
in these two relationships, competitive currency is easier to understand, while forked currency is more difficult because it is a technical problem
is the relationship between the two currencies clear now
bitcoin is regarded as the first generation application of blockchain technology and the most thorough application of its code testing. However, without bitcoin, there might not be so many people who knew about blockchain now. It can be said that bitcoin has greatly improved the "exposure" of blockchain technology
later, people graally found that the application value of blockchain is far more than bitcoin, but can be applied to many instries to solve the pain points of many instries; The idea of blockchain can also provide a lot of reference for the financial field, which is the real reason for the outbreak of blockchain.
the problem of double spending is that a sum of money can be spent twice, three times and many times. Why has the double flower problem become such an important issue in the bitcoin system
the reason is that bitcoin is a virtual currency. It is virtual, presented in the form of code, and can be copied. Once the code vulnerability is broken, the same bitcoin can be recycled. In this way, the "money" of bitcoin will become very weak
let's think about it. If a sum of money can be spent many times, and you have 500 yuan, you can buy a 500 yuan dress, which can be recycled, and then buy a pair of 500 yuan shoes. In this way, can money be called money
therefore, when Nakamoto set up the bitcoin system, all his technical means are basically around solving the "double flower problem" of
, to protect bitcoin as a kind of currency, its own function as a means of payment
in fact, the problem of double spending is not a problem in our present centralized world, because with banks, the settlement of money transactions is through banks, which is very safe. If you have problems, you can go to the bank directly
however, in the decentralized world, without such a central institution as banks, it is necessary to ensure that a sum of money can only be spent once. How to eliminate the "double spending problem" under the premise of decentralization is a difficult problem
let's just say, why is Nakamoto so persistent in pursuing "decentralization" and asking for trouble? No, he hopes to solve some social problems through decentralization, the most important of which is the inflation caused by the excessive issuance of money by the authority
so, let's sum up his logic: centralized currency issuance leads to inflation - so we need to achieve Decentralization - decentralization will face many problems, the biggest problem is the double flower problem - so we need to solve the double flower problem - how to solve the double flower problem
here, Nakamoto introces the concepts of utxo and "timestamp" to solve the double flower problem
bitcoin is a real currency rather than a quasi currency. Now there is a saying that bitcoin is not a currency, but a quasi currency quasi currency is a kind of asset valued by currency, which can not be directly used for circulation but can be converted into currency at any time. It is mainly composed of bank time deposits, savings deposits and various short-term credit circulation tools. Obviously, bitcoin does not meet the above definition at present, the reason why bitcoin can not be used for shopping in our country is the result of the prohibition of administrative order, which is not caused by its own nature. If we do not consider the restrictions of administrative order, bitcoin can naturally be used for circulation, so bitcoin is real currency rather than quasi currency
BTE = bitcoin
on the afternoon of December 5, the people's Bank of China issued the notice on preventing bitcoin risks, in which the people's Bank of China 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. In order to avoid over hype of virtual commodities such as bitcoin in the name of virtual currency and damage the public interest and the legal tender status of RMB
the circular requires that financial institutions and Payment institutions should correctly use the concept of currency in their daily work, pay attention to strengthening the ecation of the public's currency knowledge, and incorporate the concepts of correct understanding of currency, correct treatment of virtual goods and virtual currency, rational investment, reasonable control of investment risks, and maintenance of their own property safety into the content of financial knowledge popularization activities, We should guide the public to establish a correct concept of money and investment
extended information:
precautions:
as an investor, you need to consider the investment limit you can bear: even if you lose completely, it will not affect your life
we must always remember the advice of Warren Buffett, the stock god. We should be afraid when we are greedy and greedy when we are afraid
if you choose to hold bitcoin for a long time, you should keep an ordinary mind, and use the method of monthly fixed investment, small drop and small income, big drop and big income, never chase up and kill down
if you always believe in your personal choice, when you feel panicked, this is the best time to buy on a large scale
RMB can be used, but direct use of RMB in cash exchange rate will not be cost-effective. However, it's better to exchange some Hong Kong dollars when you go to Hong Kong, which can be used for small amount of payment. For other shopping, it's recommended to swipe the card, and those with UnionPay logo can be swiped, and they are free of service charge, which is very convenient. Basically, shopping malls in Hong Kong can swipe UnionPay, so that they can be directly converted into RMB according to the exchange rate of the day, and the exchange rate will not lose. In addition, sometimes there are extra gifts when you brush "UnionPay"
it's very convenient for mainland banks to exchange Hong Kong dollars. When they go to Hong Kong, they only need to take some of their pocket money with them, and the rest of them need to swipe their cards. It's very convenient for domestic banks to convert RMB into Hong Kong dollars. Moreover, the domestic exchange price is reasonable, which is definitely more cost-effective than any other place in Hong Kong. So before you go to Hong Kong, you'd better exchange Hong Kong dollars first