1 bitcoin minute
the price of bitcoin is always floating, so the price of bitcoin for RMB is always changing. From the beginning, a few years ago, when bitcoin was converted into RMB, it was only one to several, and finally it graally developed to one to more than ten, and then to one to dozens. At this time, it has been very shocking, and many people think it is a very strange phenomenon, As a virtual currency, although many people don't know what its main function is, most people think it's a bit similar to stocks, so they made a series of investments in bitcoin. Until January 2020, the value of bitcoin has grown crazily, rising to nearly 1:47000 this growth rate has exceeded most excellent stocks. Many people are shocked and often want to understand why this phenomenon occurs. In fact, my analysis is mainly caused by the following reasons:
3 Of course, one of the main reasons why the price of bitcoin has risen so fast is also related to the psychology of chasing up and killing down. For example, when many stocks have been rising, more people will buy them, but when they are falling, many people withdraw because of fear. So far, bitcoin's rise is still very large, Therefore, some people think it has investment value, so they have been buying it
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bitcoin (BTC) is a digital currency with a total amount of 21 million. It has the characteristics of decentralization, globalization and anonymity, just like the Internet. It means that transferring bitcoin to the other end of the earth is as simple as sending e-mail, low-cost and unlimited. Bitcoin is also used in cross-border trade, payment, remittance and other fields
the liquidity and limitation of bitcoin determine that bitcoin can act as a monetary function equivalent to general equivalent, or as a measure of money, but this measure is not a physical measure like gold, but a digital proct
related concepts:
1. Address
the address of bitcoin world looks like this. The address itself is just a string of codes, just like your bank account number 321 million 3288372, which is used to mark an account. Everyone can have countless addresses. The address is public
2. The bank records how much money there is in the bank account
the amount of money in the bitcoin address is recorded by the whole bitcoin network. Each complete bitcoin data will record how many bitcoins are stored in this address
each node participating in the bitcoin network can save a complete of bitcoin data, and everyone has a backup on hand to prevent counterfeiting
3. The key (private key)
the key is another string of characters you only know. The key is used to operate the money in the bitcoin address. Key and address are the relationship between a key and a lock. Each address has only one password, and each password also operates a bitcoin address
with the key, you can control the money in the bitcoin address and pay to anyone. The key should be absolutely safe. The lost or deleted key can never be found, and the money in the corresponding bitcoin address can never be used
the key needs to be kept absolutely secret. Anyone who knows the key can steal all your bitcoin
4. Wallet
the transaction process of bitcoin will involve a lot of complex calculations. In order to simplify the operation, we have made wallets. The wallet has client software on the computer, and also has an online web version. The function of the wallet is to pay with a little touch, and the complicated calculation behind it is left to the wallet to complete
5. Security
if you use the computer client software, you can recommend multibit or bitcoin QT. Both are official software recommendations for the bitcoin community. The installation of these two softwares must be downloaded directly from the official website, and the check code must be checked before and after downloading. This is to prevent someone from tampering with wallet software and stealing keys
6. mining
about every 10 minutes, some new bitcoin will appear in the bitcoin network, which can be imagined as throwing money in the sky. Whose pocket these scattered money fall into mainly depends on whose computer calculates fast. The faster you calculate, the more likely you are to find the money. Mining is to use the computer to calculate, to pick up the money< br />
The capacity of a block in bitcoin is 1m (megabytes). A transaction is between 250 and 500 bytes
according to this algorithm, a block contains about 4194.3 transactions
the confirmation time of a block in bitcoin is 10 minutes, so the seven transactions that a block can process per second may sometimes be less than seven
What are the consequences The bifurcations of
bitcoin are divided into hard bifurcations and soft bifurcations
hard fork means that when the block format or transaction format of bitcoin changes, the UN upgraded nodes refuse to verify the blocks proced by the upgraded nodes
the upgraded nodes can verify the blocks proced by the non upgraded nodes, and they continue the chain they think is correct, so they are divided into two chains
What is soft bifurcationsoft bifurcation means that when the data structure of bitcoin transaction changes,
UN upgraded nodes can verify the blocks proced by upgraded nodes,
and upgraded nodes can also verify the blocks proced by UN upgraded nodes
The concept of 21 million
bitcoin was first proposed by Nakamoto in 2009. According to Nakamoto's idea, open source software was designed and released, and P2P network was built on it. Bitcoin is a kind of P2P digital currency. Point to point transmission means a decentralized payment system
bitcoin is not issued in unlimited quantity, which is different from most currencies. Bitcoin does not rely on a specific currency issuer. But according to the specific algorithm, through a large number of calculations. Its circulation is controlled by software algorithms. The total number is 21 million
extended materials:
generation 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 infinite (in fact, bitcoin is finite) solutions that can be obtained from the equations. Every particular solution can solve the equation and is unique[ 10] In the metaphor of RMB, bitcoin is the serial number of RMB. If you know the serial number of a note, you have the note. The process of mining is to constantly seek the special solution of this equation system through a huge amount of calculation. This equation system is 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 distribute a private key and a public key. You need to back up your 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
I think what you're talking about is that bitcoin is often hung up on the Internet, which I know is divided into different levels. The higher the level, the higher the income and investment. But I feel like it's a hoax. This thing has nothing to do with bitcoin. Their promotion model is suspected of MLM. They told me they were mining, using thousands of computers across the country. If you are in the mixed currency circle, you will understand that ordinary computers can't find bitcoin now, let alone thousands, even tens of thousands of ordinary computers can't find a bitcoin a year. In addition to wasting electricity, there is no profit at all. How can I give you money without profit. Now there are thousands of professional mining machines, which can dig a coin a day. Now the cost of mining is basically higher than the cost. Of course, the electricity charge is free. Now the world's well-known mines have stopped mining because of the sharp drop in currency price
this scam is not very clever, but I don't know why so many people believe it. Of course, some people tell me that I can make a lot of money every day. I want to say that if there is no sweetness, will you do it, will you pull the head, and will you invest more? Some time ago, bitcoin house reported a MLM coin. An aunt was dazzled by huge profits and was cheated by more than 20000 people.