How much is the transaction time of bitcoin

1. In August 2013,
experienced the period of bitcoin's soaring, at that time, we were basically staring at the computer every day

2. Bitcoin did make a lot of money last year, but in March this year, it was in a downturn. The world's largest bitcoin trading platform, Mentougou, had 800000 stolen coins and was forced to file for bankruptcy protection. It's not illegal for your mother to go to the bank to withdraw money and then directly use cash to buy bitcoin. But does your mother understand bitcoin? Did your mother get bitcoin? If your mother didn't get bitcoin, or sold it to your mother at a much higher price than bitcoin at that time, it must be a scam. Bitcoin is generally traded on the trading platform, and private transactions are generally concted by people in the circle or those who know bitcoin very well
it's been a long time. How do you prove that it's a fraud and how to collect the evidence are all problems.

3. Bitcoin is global, that is to say, when bitcoin appeared, it had already entered China
however, very few people knew about bitcoin at that time. In the past 13 years, CCTV reported bitcoin several times. Nowadays, the number of people who heard about bitcoin has increased a lot.

4.

Strictly speaking, there is no issue price for bitcoin. In 2010, a programmer bought a pizza with 10000 bitcoins, the first bitcoin deal

bitcoin does not rely on a specific monetary institution. 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 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. 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

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extended data

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 finite solutions of a system of equations. Every particular solution can solve the equation and is unique. In the metaphor of banknotes, bitcoin is the number of the top word of a banknote. If you know the number of the top word on a banknote, you have the banknote

and the process of mining is to constantly seek the special solutions of the equations through huge amount of calculation. The equations are 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 assign a private key and a public key. You need to back up the 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

network bitcoin

5.

Yes, very much

let's take an example:

get up a little hungry in the morning and go out to buy a pancake to eat

the pancake seller said: 0.000001 bitcoin, please pay

You say: OK. 0.000001 bitcoin has been paid, please confirm

After

1 minute: please confirm

After

2 minutes: please confirm

After

3 minutes: please confirm

After

10 minutes: please confirm

As a result, the boss finally confirmed

just now, because your blockchain fork is confirmed to be invalid, the transaction was unsuccessful. Please pay 0.000001 bitcoin again

you said: mlgb, it's too hard. But I have already eaten it. I can't help it. Pay again. Please confirm

After

1 minute: please confirm

After

2 minutes: please confirm

After

3 minutes: please confirm

After

10 minutes: please confirm

As a result, the boss finally confirmed

just now, because your blockchain fork is confirmed to be invalid, the transaction was unsuccessful. Please pay 0.000001 bitcoin again

you say: boss, I'm wrong. Shall I spit out the pancakes for you

So it can't be used

At present, everyone is short selling

Write an article tomorrow and tell us about it. See my blog: Tech help - Xiaocui says blockchain: how does bitcoin's Curse of wealth justify itself

6. < UL >

a $5 bitcoin transaction may have the same handling charge as a $5000 bitcoin transaction. Fees are not measured in dollars, not even in the number of bitcoins

they are measured by "satoshis". Satoshis is the smallest unit of bitcoin: 100000000 satoshis = 1btc

instead of paying for every bit of bitcoin you send, you are actually paying for the space your transaction occupies in the block. The average transaction size is 226 bytes, so the time to confirm the transaction depends on the cost of the transaction

7. No
24 hours a day.