What are bitcoin's competitors
The concept of 21 million
bitcoin was first proposed by Nakamoto in 2009. According to Nakamoto's idea, open source software was designed and released, and P2P network was built on it. Bitcoin is a kind of P2P digital currency. Point to point transmission means a decentralized payment system
bitcoin is not issued in unlimited quantity, which is different from most currencies. Bitcoin does not rely on a specific currency issuer. But according to the specific algorithm, through a large number of calculations. Its circulation is controlled by software algorithms. The total number is 21 million
extended materials:
generation principle
starting from the essence of bitcoin, the essence of bitcoin is actually the special solution generated by a bunch of complex algorithms. A special solution is one of the infinite (in fact, bitcoin is finite) solutions that can be obtained from the equations. Every particular solution can solve the equation and is unique[ 10] In the metaphor of RMB, bitcoin is the serial number of RMB. If you know the serial number of a note, you have the note. The process of mining is to constantly seek the special solution of this equation system through a huge amount of calculation. This equation system is designed to have only 21 million special solutions, so the upper limit of bitcoin is 21 million
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. After completing the installation of bitcoin client, you can directly obtain a bitcoin address. When others pay, you only need to paste the address to others, and you can pay through the same client. After installing the bitcoin client, it will distribute a private key and a public key. You need to back up your wallet data containing your private key to ensure that your property is not lost. Unfortunately, if the hard disk is completely formatted, personal bitcoin will be completely lost
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
Second, we should do something in the transaction and not do something. Doing something means doing something meaningful in foreign exchange trading: facing up to one's own trading weakness, training one's executive ability, constantly improving the trading system, and focusing on trading related matters. What you don't mean is: there are many trading opportunities in the foreign exchange market, but there are not many matching and suitable trading opportunities. In the face of the temptation of the rise and fall of the K-line, some people will enter into the state of aimless frequent order making, leading to continuous losses. Therefore, only by following the pace of the market, stepping on the pace of trading, planning and then moving, can it be more likely to achieve trading profits
thirdly, foreign exchange trading is the same as go competition. Participants' trading skills are comparable to chess skills, and their trading mood is comparable to the mood of playing chess. No matter whether we give up the small to save the big between attack and defense, enter the boundary should be slow, or short when the market changes, long when the market is low, the wisdom of go is also of great guiding significance in trading. Therefore, in addition to the study of foreign exchange trading itself, the book on go theory can also be used for reference. One is to exercise mood, and the other is to communicate with each other, which is beneficial to traders.
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