BTC network confirmation time

1. According to the notice on preventing the financing risk of token issuance, there is no approved digital currency trading platform in China. According to the regulation of digital currency in China, investors have the freedom to participate in digital currency transactions at their own risk
the concept of bitcoin was first proposed by Nakamoto on November 1, 2008, and was officially born on January 3, 2009. According to the idea of Nakamoto, the open source software is designed and released, and the P2P network on it is constructed. Bitcoin is a virtual encrypted digital currency in the form of P2P. Point to point transmission means a decentralized payment system. Unlike all currencies, bitcoin does not rely on a specific currency institution to issue. It is generated by a large number of calculations based on a specific algorithm. 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 money 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

warm tips:
1. The above explanations are for reference only, without any suggestions
2. Before investing, it is recommended that you first understand the risks existing in the project, and clearly understand the investors, investment institutions, chain activity and other information of the project, rather than blindly investing or mistakenly entering the capital market. Investment is risky, so we should be cautious when entering the market
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2. You may have been delayed in bitcoin transactions. For this reason, okcoin makes the following explanation on the concerns and doubts of users
methods / steps
1 bitcoin network is a global P2P network, which is jointly maintained by all the nodes (which can be understood as computers) accessing the network. On average, the global network (not a company or an indivial) will confirm the transaction once every 10 minutes. According to the network rules, the bitcoin received by the user needs to be confirmed six times (that is, one hour) before it can be used by the user to pay again
2 recently, bitcoin's arrival speed is slow, because there are too many transactions in the whole bitcoin network, and the block capacity is close to the upper limit, resulting in the congestion of bitcoin network, and slowing down the confirmation of bitcoin on major trading platforms. This is determined by the characteristics of bitcoin network itself and is not controlled by the trading platform
3 generally speaking, if the transaction is not confirmed by the bitcoin network for more than 3 days, bitcoin will be returned. Unconfirmed bitcoin will not disappear, please don't worry. This process is determined by the characteristics of bitcoin network itself, and the trading platform cannot intervene in the operation. Therefore, please wait patiently for the confirmation or return of bitcoin network
4 there is no way to cancel the exported bitcoin, which needs to be confirmed by the bitcoin miner; If you want to speed up the confirmation, you can appropriately increase the service charge paid to the miners, which is not collected by the platform.

3. Bitcoin receives payments almost instantaneously. However, there is an average delay of 10 minutes before the network starts adding your transaction to a block to confirm the transaction and that you can use the received bitcoin. Confirmation means that there is a consensus on the Internet that the bitcoin you receive is not used to pay others, so it is recognized as your property. Once your transaction is included in one block, all subsequent blocks will include it, which will greatly consolidate this consensus and rece the risk of transaction cancellation. Each user can determine the time when the transaction is confirmed, but generally speaking, receiving six confirmations is as safe as waiting six months after a credit card transaction
anyone can become a bitcoin miner by running software on specialized hardware. mining software monitors transaction broadcast through P2P network and performs appropriate tasks to process and confirm these transactions. Bitcoin miners can earn transaction fees paid by users to speed up transaction processing and additional bitcoin issued according to fixed formula

new transactions need to be included in a block with mathematical workload proof before they can be confirmed. This kind of proof is hard to generate because it can only be generated by trying billions of calculations per second. Miners need to run these calculations before their blocks are accepted and rewarded. As more people start mining, the difficulty of finding effective blocks will be automatically increased by the network to ensure that the average time to find a block remains at 10 minutes. Therefore, the competition for mining is very fierce, and no indivial miner can control the content contained in the block chain
workload proof is also designed to rely on previous blocks, which forces the time sequence of block chain. This design makes it extremely difficult to cancel previous transactions, because the workload proof of all subsequent blocks needs to be recalculated. When two blocks are found at the same time, the miner will process the first block received, and once the next block is found, it will be transferred to the longest block chain. This ensures that the mining process maintains a global consistency based on processing capacity
bitcoin miners can neither increase their rewards by cheating, nor deal with the fraulent transactions that destroy the bitcoin network, because all bitcoin nodes will reject the blocks containing invalid data that violate the bitcoin protocol rules. Therefore, even if not all bitcoin miners can be trusted, the bitcoin network is still secure
if you still don't understand, go to bitcoin home to see the deeper understanding of netizens.

4.

Transaction mode of bitcoin

bitcoin is e-cash similar to e-mail, and both parties need "bitcoin wallet" similar to e-mail and "bitcoin address" similar to e-mail address. Just like sending and receiving e-mail, the remitter pays bitcoin directly to the other party through a computer or smart phone according to the recipient's address. The following table lists some websites that download bitcoin wallets and addresses for free

a bitcoin address is a string of about 33 characters long, consisting of letters and numbers, always starting with 1 or 3, such as & quot& quot; Bitcoin software can generate address automatically, and it doesn't need to exchange information online, so it can be offline. More than 2 bitcoin addresses are available. Figuratively speaking, there are about two grains of sand in the world. If there is an earth in each grain of sand, then the total number of bitcoin addresses far exceeds the number of all the sand on all these "earths"

the bitcoin address and private key appear in pairs, and their relationship is just like the bank card number and password. A bitcoin address is like a bank card number, which records how much bitcoin you have on it. You can generate bitcoin address at will to store bitcoin. When each bitcoin address is generated, a corresponding private key of the address will be generated. This private key proves that you have ownership of the bitcoin at that address. We can simply understand the bitcoin address as the bank card number, and the private key of the address as the password of the corresponding bank card number. Only when you know the bank password can you use the money on the bank card number. Therefore, please keep your address and private key when using bitcoin wallet

after the transaction data of bitcoin is packaged into a "data block" or "block", the transaction is initially confirmed. When a block is linked to a previous block, the transaction is further confirmed. After six block confirmations in a row, the transaction was irreversibly confirmed. Bitcoin P2P stores all transaction history in a "blockchain.". The blockchain continues to extend, and once new blocks are added to the blockchain, they will not be removed. Blockchain is actually a distributed database composed of a group of scattered client nodes and all participants, which is a record of all bitcoin transaction history. Nakamoto predicts that when the amount of data increases, users hope that not all the data will be stored in their own nodes. In order to achieve this goal, he uses the hash function mechanism. In this way, the client will be able to automatically eliminate those parts that it will never use, such as some very early bitcoin transactions

5. Almost instantly to the account, this problem may be delayed, you refresh the page, it may also be not closed, your order is still in the Commission

6. The worst thing is not to transfer bitcoin directly from one trading platform to another, because some platforms do not support this transfer method. It is better to withdraw bitcoin from one trading platform to the wallet, and then transfer the coin in the wallet to another trading platform
in this case, it's better to consult the customer service staff of the platform. Similar situations may be encountered with counterfeit coins such as Wright coin, Ruitai coin and dog coin.

7. The impact of digital currency on administrative institutions is completely positive, greatly improving your work efficiency, and for anti-counterfeiting certification, including invoices and vouchers. There are direct advantages, so you can dialectically analyze this influence from a positive point of view, no matter from the perspective of writing a paper or from other angles.

8. Hello, let me answer your question

1 this question is very important. The foreign exchange market is different from the stock market. It has no exchange and is a discrete global trading mode. The essence of the foreign exchange market is the inter-bank market, that is, the market in which the world's major banks trade with each other. Because the trading volume between them is very large, ordinary investors can not participate in it, so there is a platform business. These platform providers build a bridge between retail investors and the interbank market. When retail investors place an order, they are actually trading with the platform business, and the platform business uses the funds of retail investors to trade with the bank. So, it is the platform that provides you with margin service, and the margin will stay on the platform for the time being. As for the economic line you mentioned, it is actually a secondary agent. They are the agents of platform companies, so they charge more commissions

2 your reasoning is a little complicated, so you should try to use the common measurement standards of foreign exchange instry for calculation. Take Europe and the United States as an example, assuming that the exchange rate is 13000, we call one ten thousandth of the exchange rate 1 point. One hand contract is US $100000. Suppose our account is US $10000 and the margin is 1%. Now we buy a first-hand contract with a margin of $1000. At this time, the margin balance is $9000. If the exchange rate drops by one point, our balance will decrease by 10 US dollars. If the exchange rate drops 900 points, the margin balance becomes zero. These changes are reflected in your account, and they are all immediate
in fact, when the margin balance is close to zero, it is generally about 10 points, that is, about $100, the platform will force you to close the position, that is, the so-called burst position. At this point, you have about $1100 left in your account. In actual transactions, margin is used to prevent sudden major changes in the market price, generally will not be used. Therefore, there is no need to worry about platform providers

however, in order to win customers, the mainstream platforms often adopt more radical methods. When the margin balance is zero, they still keep the position of retail investors and start to lose margin. Take the above example as an example, the margin balance begins to turn negative. For every 1 point decline in the market, the margin decreases by $10. When the margin remains about 10 points, that is, about $100, the platform will forcibly close the position. At this time, the account balance is only about $100, which is a complete burst

I think the above answers your third question at the same time

4 if you buy Canada Japan, platform vendors actually need to use US dollars as a bridge to exchange for two times, so the gap between Canada and Japan is the sum of Canada and the United States and Japan, or even larger. However, as a retail investor, you don't have to think too much about it. It's all the work of the platform Shang Dynasty. You just need to know that if you add one day fluctuation point, 0,1 contract fluctuation is 1 / (0.01 * US Japan exchange rate) US dollars

however, it is worth mentioning that the euro / yen exchange rate in the cross section is quite special, because the trading volume is very large, it is often direct trading, and it does not need to be mediated by the US dollar, so the currency spread is relatively small on many platforms

I hope I can help you.

9. If you claim that you have a bitcoin, then the bitcoin needs to be confirmed by other clients to see whether the bitcoin is yours. The network needs a certain synchronization time, usually one hour or more. If six other clients confirm the message, then the bitcoin is yours.