How much is bitcoin in 2017

By the end of July 2020, bitcoin is now 98 yuan

the bitcoin address and private key appear in pairs, and their relationship is just like the bank card number and password. A bitcoin address is like a bank card number, which records how much bitcoin you have on it. You can generate bitcoin address at will to store bitcoin. When each bitcoin address is generated, a corresponding private key of the address will be generated

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whenever bitcoin comes into the view of mainstream media, mainstream media always ask some mainstream economists to analyze bitcoin. Earlier, these analyses always focused on whether bitcoin was a scam. Now the analysis is always focused on whether bitcoin can become the mainstream currency in the future. The focus of the debate is often on the deflationary nature of bitcoin

many bitcoin players are attracted by the fact that bitcoin can not be issued at will. The attitude of bitcoin players is quite the opposite, and the attitude of economists is polarized compared with the fixed amount of 21 million bitcoin

The total number of bitcoins is 21 million

in 2009, when bitcoin was born, block reward was 50 bitcoins. Ten minutes after its birth, the first 50 bitcoins were generated, and the total amount of money at this time is 50. Then bitcoin grew at a rate of about 50 every 10 minutes. When the total amount reaches 10.5 million (50% of 21 million), the block reward will be halved to 25

when the total amount reaches 15.75 million (5.25 million new output, i.e. 50% of 1050), the block reward will be further halved to 12.5. The monetary system used to have no more than 10.5 million in four years, after which the total number will be permanently limited to about 21 million

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monetary characteristics

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

5, no hidden cost: as a means of payment from a to B, bitcoin has no cumbersome limit of quota and proceres. If you know the other party's bitcoin address, you can pay

6. Cross platform Mining: users can explore the computing power of different hardware on many platforms

When bitcoin first appeared in 2009, its price was less than 1 cent. One dollar could be converted into 1300 bitcoins, that is to say, seven yuan could be converted into 1300 bitcoins. On May 5, 2017, bitfinex, an overseas digital currency trading platform, quoted a price. Bitcoin once hit US $1700, or about RMB 11737

the concept of bitcoin was first proposed by Nakamoto on November 1, 2008, and was officially born on January 3, 2009. According to the idea of Nakamoto, the open source software is designed and released, and the P2P network on it is constructed. Bitcoin is a virtual encrypted digital currency in the form of P2P. Point to point transmission means a decentralized payment system

unlike all 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

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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transaction method

bitcoin is e-cash similar to e-mail, and both parties need "bitcoin wallet" similar to e-mail and "bitcoin address" similar to e-mail address. Just like sending and receiving e-mail, the remitter pays bitcoin directly to the other party through a computer or smart phone according to the recipient's address. The following table lists some websites that download bitcoin wallets and addresses for free

a bitcoin address is a string of about 33 characters long, consisting of letters and numbers, always starting with 1 or 3, such as & quot& quot; Bitcoin software can generate address automatically, and it doesn't need to exchange information online, so it can be offline. There are a lot of bitcoin addresses available

the bitcoin address and private key appear in pairs, and their relationship is just like the bank card number and password. A bitcoin address is like a bank card number, which is used to record how much bitcoin is stored in the address. You can generate bitcoin address to store bitcoin at will. When each bitcoin address is generated, a corresponding private key of the address will be generated

this private key can prove ownership of the bitcoin at the address. The bitcoin address can be simply understood as the bank card number, and the private key of the address can be understood as the password of the corresponding bank card number. Only when you know the bank password can you use the money on the bank card number. Therefore, please keep the address and private key when using bitcoin wallet

source of reference: network bitcoin

Bitcoin is just like the currency in the game, but no one releases bitcoin. Instead, it relies on a specific algorithm to generate , so now people looking for bitcoin also call themselves miners, but they rely on computers to mine

the rise of bitcoin is e to the restructuring of global risk assets , and the widening of investment channels for encrypted assets . Since the beginning of this year, the volatility of securities and foreign exchange markets has intensified, and global investors are looking for safe assets. Traditional safe asset gold is more dependent on the real economy and inflation expectations, Bitcoin is more like a sensitive index, gaining a certain asset hedging advantage