Bitcoin 1 million
According to the exchange rate on December 6, 2019, 100 bitcoin = 5206680.68 yuan , exchange rate: 1 bitcoin = 52066.8068 yuan
bitcoin is a kind of digital currency, which is composed of a series of complex codes generated by computer. The new bitcoin is made by preset program
compared with fiat money, bitcoin does not have a centralized issuer, but is generated by the calculation of network nodes. Anyone can participate in the manufacture of bitcoin, and it can circulate all over the world. It can be bought and sold on any computer connected to the Internet. No matter where they are, anyone can dig, buy, sell or collect bitcoin, And in the transaction process, foreigners can not identify the user's identity information
extended information:
characteristics of bitcoin
1. Decentralization: bitcoin is the first distributed virtual currency, and the whole network is composed of users without a central bank. Decentralization is the guarantee of bitcoin's security and freedom
2. Global circulation: bitcoin can be managed on any computer connected to the Internet. No matter where you are, anyone can dig, buy, sell or collect bitcoin
3. Exclusive ownership: private key is needed to control bitcoin, which can be stored in any storage medium in isolation. No one can get it except the user himself
4. Low transaction cost: bitcoin can be remitted free of charge, but a transaction fee of about 1 bitfen will be charged for each transaction to ensure faster transaction execution
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 currency circulation
Ten years ago, when bitcoin was first born, it cost a few cents. Today, 10 years later, it costs 18800 dollars. If we buy a bitcoin of 1 million yuan now, then bitcoin will still exist in another ten years, and the 1 million yuan will either rise 100 times or return to zero. These are two extreme results
in other words, if bitcoin is accepted by the international mainstream society for quite a long time in the future, its speculation and rising logic, including value storage, will be affected. Therefore, either bitcoin's value will return to zero completely, or its stable price will continue to rise. Obviously, the rising multiple will not be as crazy as in the previous decade< br />
First of all, let's take a look at the ranking of the two mainstream rich lists in 2018: among the top 400 Forbes China rich list released at the end of October, the 400th was shortlisted with RMB 5.8 billion; The threshold of Hurun's 100 rich list is set at 2 billion yuan, and in Hurun's global list, it takes us $1 billion to get into the list
let's look at how much bitcoin we could buy for 100000 yuan eight years ago (2010) and how much it is worth today: 100000 yuan eight years ago was about 15000 US dollars. Due to its special properties, bitcoin rose from US $0.003 to US $0.50 in just one year. Now, it is the first virtual currency with the price of 6000 + US dollars
The time of
was pushed to November of the same year. By this time, the price of bitcoin on the exchange had reached $0.5, a full increase of nine times. At this time, if you buy another $15000, you can only get 30000 bitcoins. According to today's market price of bitcoin, it's worth at most US $200 million, even less than a fraction of Ma's, so it's impossible to get into China's rich list, let alone the world's rich list? The richest man in the village at most
however, no matter what the current value is, no matter whether you are in the rich list or not, you can buy bitcoin in 2010 and hold it for so many years, starting from the single digit dollar of bitcoin to the glorious record of $18674, and then to the current decline of $6000 + without selling it, which is also a person worthy of admiration
finally, we get the following relationship between bitcoin price and number of users, which is the logical relationship. It is a kind of equation to describe the relationship between the number of species and time in biology, so the title of the paper is "bitcoin spreads like a virus"
the study also found that this relationship is not accidental, but there is a law behind it, which is Metcalfe's law
Metcalfe's law
in the 1980s, Robert Metcalfe, the inventor of Ethereum, proposed a method to evaluate the value of the Internet. He believes that the value of the network is directly proportional to the square of the network nodes (users). This is the so-called "network effect". The more users, the greater the value of the network
in a network with n users, the number of links between each user and other users is n (n-1) / 2. When n is large, n (n-1) / 2 is about n & # 178;. In this way, Metcalfe's law takes the following form: network value equals the constant c times the square of n
However, if n grows linearly with time, the network value will grow exponentially with time, and there is no boundary, which is obviously not in line with the reality. Therefore, in 2013, Metcalfe revised that n should be logistic growth, which is known as "s" growththis rule is not only applicable to bitcoin, Peterson also studied the price change of Facebook over time, and found that the price of Facebook also applies to Metcalfe's law