Is bitcoin easy to use in poor countries

although bitcoin still has great risks, after years of development, with the increase of its application population, application scenarios and application technology, no country or organization can completely eliminate it. If you can figure it out, it is likely that countries will generally accept bitcoin and embrace it

according to my personal judgment, bitcoin, after a period of continuous development, is likely to become a world currency in the future, which can play the role of electronic gold and become the target of the value of other sovereign currencies. From this perspective, bitcoin can be used as a means of asset preservation in the future when inflation is inevitable

Bitcoin is a kind of P2P digital currency

reasons for blocking:

1. Vulnerability of trading platform. The bitcoin network is robust, but the bitcoin trading platform is fragile. Trading platform is usually a website, which will be attacked by hackers or shut down by competent authorities

4. The public did not understand the principle, and the traditional financial practitioners resisted. Active netizens understand the principle of P2P network and know that bitcoin has no legal person to manipulate and control. But the public doesn't understand, and many people can't even tell the difference between bitcoin and q-coin“ "No issuer" is the advantage of bitcoin, but in the view of traditional financial practitioners, "no issuer" currency is worthless

extended materials:

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 constructed. 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 feature and algorithm of P2P can ensure that it is impossible to artificially control the value of bitcoin by mass manufacturing. The design based on cryptography can make bitcoin only be transferred or paid by the real owner

bitcoin can be cashed and converted into the currency of most countries. Users can use bitcoin to buy some virtual items, such as clothes, hats and equipment in online games. As long as someone accepts it, they can also use bitcoin to buy real-life items

on February 26, 2014, Joe Manchin, a Democratic senator from West Virginia, issued an open letter to a number of regulatory authorities of the US federal government, hoping that the relevant authorities would pay attention to the status quo of bitcoin's encouraging illegal activities and disrupting the financial order, and demanded that actions be taken as soon as possible to completely ban the electronic currency

from 12:00 noon on January 24, 2017, China's three major bitcoin platforms officially began to collect transaction fees

Many people think that the reason why bitcoin is valuable is because it is "rare", and if bitcoin is no longer "rare", then it will not have value

this is a misunderstanding. Let's consider a question: what is the essence of all "currencies"

the answer is trust. The biggest reason for the value of the dollar is because of the credibility established for the dollar under the Bretton Woods Agreement, rather than the so-called equivalent exchange with gold (although others say so). The main reason why RMB is valuable is because of the trust system of RMB in China and neighboring countries, rather than the exchange with us dollar reserves (see offshore RMB). This can explain why the currencies of some countries (such as the ruble of Russia, as well as the Zimbabwean currency as you all know) have been greatly devalued, because the government and the current world situation have led to a trust system that does not support the existence of this currency. The so-called economic sanctions and currency speculation are very superficial and superficial reasons

the essence of money is trust

What about bitcoin

bitcoin has no centralized Trust Measurement institution. The value of bitcoin, namely its "credit system", comes from distrust of centralized units. Every country finds that seigniorage is too easy to collect, which leads to the increasingly poor trust between countries. Even the people of all countries do not trust the national currency

and trust, like quality, is conserved. Trust in centralized money decreases, while trust in decentralized money increases naturally

this is the essential reason why the value of bitcoin continues to rise. Therefore, for digital currencies such as bitcoin, there are only two outcomes. Either countries want to understand that they will no longer issue excess currencies, issue additional currencies in a scientific and reasonable way, unify stable exchange rates, and maintain the credit system of centralized currencies, then the value of bitcoin will be infinitely close to zero. Or countries will continue to drink water to quench their thirst, and more frantically use the method of issuing excess currency to collect seigniorage from everyone, then the trust in the centralized currency will be lower and lower, and the total value of bitcoin, a decentralized currency, will be infinitely close to the gross labor value of all the units that do not trust the government and other governments, but need international trade

either the price is crazy or it's worthless

after understanding these, we can answer this question. Will bitcoin be replaced by other digital currencies

swindlers like * * and even the old Wang next door can come and yell, "I spent 10 minutes to change bitcoin's core and create a new digital currency called SBC. Come and join my ICO and pay me seigniorage ~". So, if this happens, will you immediately choose to use Lao Wang's SBC next door

the answer is that some speculators will participate, but the market will not. The reason is very simple, the new cryptocurrency has not been recognized by the market, the application has not been proced, this kind of currency has no way to exchange for means of proction. Then this kind of currency is not money, but a virtual commodity for speculation. In other words, even if old Wang ICO next door has an SBC, no one will choose this kind of currency except those speculators who have no brains

in the current market, there are many other digital currencies, such as Ethereum, EOS, XRP, and so on, which may have technological advantages in some aspects (in fact, BTC has been evolving, and it will also learn from the advanced technologies of other digital currencies that have been successfully proved by the market. LTC and other currencies can be said to be the experimental currencies of BTC's advanced technologies.), There may be more application scenarios than BTC in the future, but they are not likely to challenge the status of BTC. BTC will always be the first consensus in the currency circle, which is the belief of many people. BTC will exist for a long time as the gold in the currency market, not mainly for the circulation of digital currency

As long as the influence of bitcoin scam is not particularly bad, the government generally adopts the policy that the people do not sue, the officials do not blame, and turn a blind eye to it. Because even if the government enters, it is difficult to find the culprit. The information of some operation teams is not public, and it is difficult to find it on the Internet. Some of them are still abroad, so it is difficult to solve the case. Some of the culprits turn around and become victims. There are also those who participated in the bitcoin pyramid scheme. A large number of victims are also the biggest accomplices< br />

On March 12, bitcoin rallied and its price rose to $58139 , close to the record high set in February

according to assetdash's prediction, the market value of bitcoin may soon exceed that of alphabet, the parent company of Google, or even the money supply of won. However, bitcoin suddenly collapsed that night, spilling more than $3000 in two hours, which stunned many investors. "Safe haven assets" have become "high-risk" assets

Du Jun, co-founder of fire currency, said that although the recent rise in currency price has boosted market confidence and the instry is generally optimistic, it can not be ignored that the US inflation index CPI is in line with expectations, and the rise of the three major indexes of the US stock market also has an impact on the mood of the virtual money market. The recent rise of bitcoin has something to do with the massive purchase of bitcoin by many traditional companies

extended information:

a well-known trading platform was investigated

the collapse of bitcoin on the evening of 12 may be related to the news that a well-known trading platform was investigated

on the evening of March 12, some media reported that the US Commodity Futures Trading Commission (CFTC) was investigating the virtual currency trading platform coin an, and the investigation content was whether the company allowed us residents to trade its regulated derivatives illegally

according to people familiar with the matter, coin an is not registered with CFTC. But coin an has not been charged with misconct and the investigation may not lead to any enforcement action. The CFTC regards virtual currencies such as bitcoin and Ethernet as commodities and has jurisdiction over its futures and other derivatives. This means that if Americans trade on the virtual currency platform, no matter where the exchange is located, the platform will face strict customer protection and regulatory requirements

a person close to the trading platform told China Securities News that coin an had no major accident and strictly abided by the rules. At present, it is only under investigation

according to some people in the encryption instry, the investigation shows that the US regulatory authorities may prevent virtual currency investment from becoming the mainstream investment mode in the United States, and are stepping up the crackdown on virtual currency violations

Eth is Ethereum, an open source public blockchain platform with smart contract function. It provides decentralized virtual machine (called "ether virtual machine") to process point-to-point contract through its special cryptocurrency, ether (also known as "ether virtual machine")

can be traded in many foreign exchange markets of cryptocurrency, and it is also the medium used to pay transaction fees and computing services on Ethereum

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compared with most other cryptocurrency or blockchain technologies, the characteristics of Ethereum include:

1. Smart contract: the program stored in the blockchain is run by each node, and the person who needs to run the program pays the handling fee to the miners or equity holders of the node

2. TERT block: merge the short block chain which is not received by the parent chain in time e to its slow speed

4. Lightning network: it can improve the transaction speed, rece the burden of blockchain, and improve the scalability Not yet implemented)

5. The development community is stable, growing, and brave in using hard forks