Bitcoin money
It was officially born on January 3, 2009
since 2015, the future of bitcoin has become more and more uncertain. On the one hand, bitcoin fell as much as 55.55% against RMB last year; In 2015, bitcoin fell by more than 30% against the RMB in the first half of January alone
bitcoin's "falling" reflects the "self-healing" of its value after "fanaticism" to a certain extent. According to statistics, in 2013, bitcoin rose from 1 ∶ 13.59 to 1 ∶ 731, with an annual increase of 5300%. This speculative driven inflation has affected the virtual currency property on which bitcoin relies
on the one hand, no country has defined it as a legal currency. On the other hand, in 2014, the US dollar rose significantly, and the prices of oil and bulk commodities fell correspondingly. The price trend of bitcoin is the same as that of the latter, becoming part of the asset allocation of some speculators, which highlights that its asset attribute is far greater than the monetary attribute
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Security and credit risk have also become the reasons for the decline of investor confidence. Mt. GOx, once the world's largest bitcoin exchange, claimed in March last year that it had lost all its assets e to hacker attacks. Recently, it was revealed that its lost bitcoin was probably e to internal system manipulation
the regulatory environment of bitcoin is not optimistic, and Russia, Thailand and other countries have begun to implement strict control on it. In addition, the global stock market performed well last year, resulting in the diversion of bitcoin investment funds, and the crazy "mining" activities also rapidly increased the supply of bitcoin, which may lead to a trend of oversupply in the short term, leading to a sharp drop in the price of bitcoin
Bitcoin is a kind of network virtual currency. Bitcoin network generates new bitcoin through "mining". In essence, the so-called "mining" is to use computers to solve a complex mathematical problem to ensure the consistency of bitcoin network distributed accounting system. Assuming that the mining computing power is 100 mhash / s and the total computing power is 4000 ghash / s per day, 3600 bitcoins can be g out every 24 hours
China's computing power has accounted for more than 75% of the world, that is to say, 75% of bitcoin in the world is made in China. How long does it take to dig a bitcoin
bitcoin used to be very good at "digging", which can be done by ordinary computer CPU, and it can automatically "solve problems" by downloading software. But with the rise of currency price, more and more people want to "solve the problem", and the difficulty of mining is also increasing. Now, the amount of computation needed to dig a bitcoin is beyond the reach of ordinary people. Ordinary computers can't afford it
instry insiders said that in 2014, 100 bitcoins were generated from 500000 yuan of electricity charge per day, and the cost of electricity charge alone was 5000 yuan per coin. But now, the same cost has more than doubled, and the electricity cost of each bitcoin is as high as 10000 yuan
in the generation mechanism of bitcoin, mining reward is decreasing. At the beginning of the birth of bitcoin, the miners could get 50 bitcoins for each page of the ledger, and then 25 bitcoins for each page of the ledger, decreasing in turn. It's like digging gold. At first, it's more and less. The time point at which each new reward is reced by half is called half bitcoin proction
assuming that the mining computing power is 100 mhash / s, the total computing power is 4000 ghash / s per day in 2014, and 3600 bitcoins are g out every 24 hours
now, we can understand the difficulty of bitcoin digging in this way, which is equivalent to 100 million dice throwing numbers less than 100 million and 50 million. Whoever throws them first will get the bookkeeping right. At this point, 1050 million is a hash value. The process of throwing dice is called hash collision. The unit of mining power is the number of hash collisions per second
at present, the computing power of bitcoin in the whole network has reached 2.36 billion hash collisions per second, which is equivalent to the number of water droplets in more than 200000 50 meter long standard swimming pools. But even with such a large amount of computing power, it will take about 10 minutes to hit a hash value that meets the requirements
in 2012, bitcoin's output was halved for the first time, and in July 2016, bitcoin's output was halved for the second time. At present, 12.5 bitcoins are awarded for recording one page of account book. The next halving will take place around 2020, and the total number of bitcoins will not increase by 2040, with a total of 21 million
Related videos: how long does it take to dig a bitcoin
of course, its selling point is to speculate that there is no inflation. However, a limited number of currencies is not absolutely inflation free, because the original price can rise or fall arbitrarily when people's confidence can not be guaranteed. This means that inflation can be as difficult to control as any currency
when gold has no monetary function, it at least retains the functional value of ornament and metal, and then it can become a real currency again through value exchange in any society with money
however, any virtual currency in the form of pure credit, whether it is paper money of a certain country or the so-called electronic currency, must have an equal amount of real wealth value injection before it can start to obtain the real form of credit guarantee and value, and then it can have the real credit value. Any so-called credit currency that lacks this process of injecting value and obtains guarantee is zero credit currency
as long as bitcoin does not have any social entity with economic credit (such as a government) to inject real value and make formal guarantee for it, it will always be just a nominal currency with legal credit equal to 0. Any country can take this form of electronic currency to improve the function of currency counterfeiting and other management functions, but this pure electronic currency itself can not be separated from the attributes and forms of a credit currency itself. For example, US dollar or RMB can be issued and managed in the form of this kind of electronic currency, However, this does not mean that the US dollar and RMB itself can be separated from an actual form of credit guarantee and valuation process to become truly valuable currencies
any certain amount of money can be diluted and decentralized by a larger number of other "nominal money with no equal wealth value" and suffer devaluation. For example, the central bank issues money to the market for use out of thin air; On the other hand, the dominant value of any fixed amount of credit money can also change when its real wealth assignment changes. When it is abandoned by the original credit supporters, the credit right of its real wealth value will also end. For example, a country whose economic expenditure is basically bankrupt, Even if the amount of money is fixed, it will fall to the bottom, because the money itself has lost the control of the original normal amount of wealth. However, when a currency has not been assigned a value by a formal political entity in the legal form and process, its value can only be empty
the above points are only for some mentally retarded people who may fall into financial fraud. I hope that those who don't understand will not participate in speculation and avoid losses. As for the specific financial knowledge, many experts actually understand that bitcoin, as a form of credit currency, is a relatively new electronic currency. Many people want to observe what specific reactions it will have in the actual actions of the society. On the contrary, it has not aroused much vigilance for its possible adverse effects
reference: bitcoin: so far = empty credit currency
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Bitcoin BTC 2009 Satoshi Nakamoto is bitcoin / org ~ $24.3 billion is SHA-256; LTC 2011 coblee is litecoin / org ~ $3.6 billion is script infinite; IFC 2012 ifccion is ifccoin / ORG~$ $20 million is a script quark, qrk 2012, qrkcion is cgbcion / org - $10 million is a script zeta, ZET 2012 zetcony is ZET / org - $10 million is a script proof of work / POS
Recently, the price of bitcoin has soared. Is there anyone behind this phenomenon controlling the price of bitcoin? I think the possibility of artificially controlling the price of bitcoin is very low. The overall market value of bitcoin has reached hundreds of billions of dollars. It is very difficult to control the price of bitcoin. Now bitcoin is one of the most mature digital currencies in the market, and has basically realized market-oriented transactions
recently bitcoin prices rose too fast, there is a certain bubble risk, but bitcoin as an internationally known digital currency, many institutions for bitcoin value is long-term good, in the long run, bitcoin price still has certain room for growth. But in the process of purchasing, we must control the risk. There is no limit on the rise and fall of bitcoin, and the price will fluctuate greatly. We should use leverage carefully to operate bitcoin
only full node clients like bitcoin core need longer synchronization time. Technically, synchronization is a process of downloading and verifying all previous bitcoin transactions on the network. Some bitcoin clients need to know all previous transactions to calculate the available balance of your bitcoin wallet and complete new transactions. This step consumes a lot of resources and needs enough bandwidth and space to store the whole block chain. In order to maintain the security of bitcoin, enough users need to use the full node client, because they play the role of confirmation and relay transactions.