Bitcoin bitcoin

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1. bitcoin:

also known as "bitcoin", is a kind of network virtual currency. Internet users can use bitcoin to buy some virtual goods, such as clothes, hats and equipment in online games. Internet users can also use bitcoin to buy real goods

2. The origin of bitcoin: the concept of bitcoin was first proposed by Nakamoto in 2009. According to Nakamoto's idea, the open source software was designed and released, and the P2P network on it was constructed. Bitcoin is a kind of P2P digital currency. Point to point transmission means a decentralized payment system

unlike most currencies, bitcoin does not rely on specific currency institutions. It is generated by a large number of calculations based on specific algorithms. Bitcoin economy uses the distributed database composed of many nodes in the whole P2P network to confirm and record all transactions, and uses the design of cryptography to ensure the security of all aspects of currency circulation

extended data :

the generation principle of bitcoin:

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

compared with RMB, bitcoin is the serial number of RMB. If you know the serial number of a note, you will 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

2. Bitcoin is a kind of cryptocurrency based on decentralization, using peer-to-peer network and consensus initiative, open source, and blockchain as the underlying technology
the concept of bitcoin was first proposed by Nakamoto on November 1, 2008, and was officially born on January 3, 2009. 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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3. Abstract: a person named Satoshi Nakamoto posted a post on the P2P foundation website, saying that he has developed an open-source P2P (peer-to-peer) e-cash system called bitcoin, which is completely decentralized. There is no central server or trustee, and everything is based on participants.

4. Bitcoin is a network-based electronic currency, which is composed of complex computer code. In November 2008, Nakamoto published a paper on the concept of "bitcoin", which marks the advent of bitcoin. In January 2009, with the release of the first bitcoin client, the bitcoin trading network was officially launched, and its inventor, Zhongben Cong, obtained the first 50 bitcoins through "mining"“ Mining "is the only way to proce bitcoin. In fact, it uses specific software to obtain bitcoin through a large number of calculations. The total number of bitcoins is limited to 21 million, and the last one will not be discovered until 2140. Bitcoin does not have a central issuing agency. Anyone can mine and proce bitcoin, or trade it all over the world through the Internet. All transactions are anonymous and will not leave the identity information of traders
as an electronic currency, bitcoin can be used to buy goods and services. In May 2010, the first purchase of real objects with bitcoin took place in the United States. At the same time, bitcoin is also widely concerned by the market as an investment proct. However, from the perspective of market performance, e to the lack of supervision and the intervention of a large number of speculators, the price of bitcoin is like a roller coaster and fluctuates greatly. In addition, the security of bitcoin trading platform is relatively low, once hacked, it will cause irreparable losses. In China, bitcoin is not considered as a real currency, and there are many restrictions on it. These are the risks that you need to pay attention to when investing in bitcoin.

6. The state should introce DCEP.

7. Virtual currency, with no issuing authority, can make money by mining and transfer money. In some places you can buy things. In China, many instries have been extended, which are linked with MLM. Because of its low technical content and complex concept, it is easy to be used for brainwashing marketing. As a developer, I feel very sad. Bitby itself is a set of technical specifications, mainly to achieve a fair, safe and convenient way of trading. Now many small companies turn it into a tool for money collection