Bitcoin and wa coin
was released on October 7, 2011. It is currently the highest market value counterfeit coin, about 1% of BTC's market value, or US $1000W. Compared with BTC, LTC is faster, with an average of 2.5 minutes and 6 confirmations per block in 15 minutes. In addition, the number of LTCs is four times that of BTCs, with a total of 8400w. At present, LTC uses scrypt algorithm, which needs a lot of memory support. The professional mining machine on the market can not be used for LTC mining, only the graphics card
what is the difference between lightcoin and bitcoin
1. Transaction: easier to use, larger volume and greater appreciation potential. The block confirmation time is shorter, which is four times faster than bitcoin. For example, pizza owners are more willing to accept LTC payment to save transaction time< Mining:
special algorithm creates the unique charm of LTC, which is also the key to stand out from Shanzhai coins. Scrypt algorithm uses sha256 as its subroutine, and scrypt itself needs a lot of memory, each hash is used as the input seed, and then needs a lot of memory to store another seed pseudo-random sequence, Generate pseudo-random points of sequence and output hash value. The key is that scrypt algorithm needs a lot of memory while sha256 algorithm does not. So in this era when BTC mining of graphics card is coming to an end, LTC mining is about to usher in a golden period of development. Because of the high cost of memory, any ASIC or FPGA has no advantage over graphics card mining. LTC has advantages, at least in the foreseeable future
3. The biggest threat of bitcoin is 51% attack:
some shanzhais are killed by 51% attack. To be honest, LTC is a worry for the development of LTC and BTC, of course. However, the specific problems they face are different: BTC can avoid 51% attack through technology upgrading (such as end block reconstruction, careful node upgrading, and calculation difficulty), However, there is no way to evade LTC technology. However, e to the scattered computing power of graphics card mining and the increasing difficulty, this problem needs to be paid attention to, but don't worry too much. With the use of ASIC in BTC, the risk of 51% attack is increasing. I hope BTC development team can solve this problem as soon as possible.
The user groups of Ethernet and bitcoin are different
11. No voice in the world is louder than silence. If one can understand your silence, he will never misunderstand your language
12. Be sure to make yourself excellent, both physically and internally. At the same time, tell yourself, I change well, not to meet the right person; But let others know: it's not single that chooses me, but I choose to be single
13. I don't want to run today, so I go running. This is the way of thinking of long distance runners
14. Don't be depressed. Life is like an electrocardiogram. Plain sailing proves that you are dead
15. Before everything gets better, we always have to go through some unhappy days, which may be very long or just wake up. Sometimes, it takes courage to choose happiness
16. Before everything gets better, we always have to go through some unhappy days, which may be very long or just wake up. Sometimes, it takes courage to choose happiness
17. In life, there should be something to do and something not to do. Life is a kind of pursuit and continuation. Life is an endless relay race. Don't regret when you are alive, just like you can't let yesterday come back. Thank you for yesterday. All kinds of yesterday are experiences. Experience is not about success and failure, experience is not worth it or not
18. Occasionally I want to be alone without any interruption. I just want to empty myself and feel the beauty of life
19. All the surprises and good luck in the world are your accumulated character and kindness
20. More and more clear four words: human words are formidable. But more to understand the five words: people say what to fear
21. Life will get better when it is bad to a certain extent, because it can't be worse. After working hard, I know a lot of things. I stick to it and come here.
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
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