Bitcoin Technology
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bitcoin (BTC) is a digital currency with a total amount of 21 million. It has the characteristics of decentralization, globalization and anonymity, just like the Internet. It means that transferring bitcoin to the other end of the earth is as simple as sending e-mail, low-cost and unlimited. Bitcoin is also used in cross-border trade, payment, remittance and other fields
the liquidity and limitation of bitcoin determine that bitcoin can act as a monetary function equivalent to general equivalent, or as a measure of money, but this measure is not a physical measure like gold, but a digital proct
related concepts:
1. Address
the address of bitcoin world looks like this. The address itself is just a string of codes, just like your bank account number 321 million 3288372, which is used to mark an account. Everyone can have countless addresses. The address is public
2. The bank records how much money there is in the bank account
the amount of money in the bitcoin address is recorded by the whole bitcoin network. Each complete bitcoin data will record how many bitcoins are stored in this address
each node participating in the bitcoin network can save a complete of bitcoin data, and everyone has a backup on hand to prevent counterfeiting
3. The key (private key)
the key is another string of characters you only know. The key is used to operate the money in the bitcoin address. Key and address are the relationship between a key and a lock. Each address has only one password, and each password also operates a bitcoin address
with the key, you can control the money in the bitcoin address and pay to anyone. The key should be absolutely safe. The lost or deleted key can never be found, and the money in the corresponding bitcoin address can never be used
the key needs to be kept absolutely secret. Anyone who knows the key can steal all your bitcoin
4. Wallet
the transaction process of bitcoin will involve a lot of complex calculations. In order to simplify the operation, we have made wallets. The wallet has client software on the computer, and also has an online web version. The function of the wallet is to pay with a little touch, and the complicated calculation behind it is left to the wallet to complete
5. Security
if you use the computer client software, you can recommend multibit or bitcoin QT. Both are official software recommendations for the bitcoin community. The installation of these two softwares must be downloaded directly from the official website, and the check code must be checked before and after downloading. This is to prevent someone from tampering with wallet software and stealing keys
6. Mining
about every 10 minutes, some new bitcoin will appear in the bitcoin network, which can be imagined as throwing money in the sky. Whose pocket these scattered money fall into mainly depends on whose computer calculates fast. The faster you calculate, the more likely you are to find the money. Mining is to use the computer to calculate, to pick up the money< br />
bitcoin is a fraud, so we must be cautious in investment and financial management
even if it is called "hard currency", the price of gold will not only rise but not fall. There is no bubble in gold, but the price is too high, there is a bubble, and the bubble will eventually burst, such as virtual currency such as bitcoin. The more general virtual currencies, the closer bitcoin's value is to zero
this kind of currency, which is a purely calculated digital symbol, has no asset support, no financial revenue and expenditure, no cash reserve and no use value. It is only a circulation symbol. Once it loses its credit guarantee, it is a pile of beautiful printed waste paper. Investors should be alert that there is no so-called safe investment in this world, and all investments are risky
the people's Bank of China and other departments issued a document to severely punish the above-mentioned behaviors, making it clear that token trading is not protected by law. With some virtual currency trading platforms turning to overseas, speculative money speculation has also turned to "underground". In the face of continuous renovation, on the basis of continuous strict supervision, government departments should constantly upgrade the means and ability of supervision, and continue to increase publicity and crackdown on popular science, so as to avoid the masses being deceived
extended information:
investing in virtual currency is more of a kind of speculation. Investors should strengthen their risk prevention awareness and identification ability. Without confirming the identity of the other party, they should not be involved in money transactions, trust low-risk and high return investment procts, especially not join the investment and financing group without verification, These are often well-designed traps by telecommunication network fraudsters
it's better to purchase the investment and financial management accompanied by the children, and learn from the official and authoritative channels, and report to the police in time when they are found to be cheated. Properly protect all kinds of account password, identity information, etc., don't tell others easily. Any reference to the need for transfer and remittance should arouse high vigilance and consult with trusted acquaintances
reference source: people's.com - uncover the crazy bitcoin: new Ponzi scheme of 800 yuan each<
People's website - three men set up bitcoin scam and made a profit of more than 150000 yuan and were sentenced
People's website - People's website comments on "analytic blockchain" part 3: how to avoid getting away from the real to the virtual
the concept of bitcoin was first proposed by Nakamoto in 2009. According to Nakamoto's idea, the open source software was designed and released, and the P2P network on it was built. Bitcoin is a kind of P2P digital currency. Point to point transmission means a decentralized payment system. Unlike most currencies, bitcoin does not rely on specific currency institutions. It is generated by a large number of calculations based on specific algorithms. Bitcoin economy uses the distributed database composed of many nodes in the whole P2P network to confirm and record all transactions, and uses the design of cryptography to ensure the security of all aspects of currency circulation. The decentralized nature of P2P and the algorithm itself can ensure that it is impossible to artificially manipulate the value of bitcoin by mass manufacturing. 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. 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 used to have no more than 10.5 million in four years, after which the total number will be permanently limited to 21 million. Bitcoin can be cashed and converted into the currency of most countries. Users can use bitcoin to buy some virtual goods, such as clothes, hats and equipment in online games. As long as someone accepts it, they can also use bitcoin to buy real-life goods.
unlike most currencies, bitcoin does not rely on 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, and uses cryptography design to ensure the security of all aspects of currency circulation. 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. 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 used to have no more than 10.5 million in four years, after which the total number will be permanently limited to 21 million.