What does bitcoin confirm mean

1.

The earliest is a kind of network virtual currency. It is characterized by decentralization, anonymity, and can only be used in the digital world. It does not belong to any country or financial institution, and is not subject to geographical restrictions. It can be exchanged anywhere in the world. Therefore, it is used as a money laundering tool by some criminals. In 2013, the U.S. government recognized the legal status of bitcoin, making the price of bitcoin soar

< H2 > extended information:

bitcoin is e-cash similar to e-mail. 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

starting from the essence of bitcoin, the essence of bitcoin is actually a 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

many websites for technology players have begun to accept bitcoin transactions. Websites such as mtgox and btcchina, as well as some Taobao stores, can even accept services such as bitcoin exchange for us dollars and euro. There is no doubt that bitcoin has become a real currency in circulation, rather than a virtual currency like Tencent Q coin

2. Bitcoin network is a global P2P network, which is jointly maintained by all the nodes accessing the network (which can be understood as computers). On average, the global network (not a company or indivial) confirms the transaction every 10 minutes. Bitcoin network miner is to maintain the operation of bitcoin network, to confirm every transaction, can not contact directly< Br > take bitcoin as an example: e to the technical advantages of our platform, the bitcoin you receive will arrive at the account for transaction after one confirmation, and it will take six confirmation (i.e. one hour) before it can be fully arrived at the account and used by you for re payment or transfer out< Br > (Note: e to some special reasons, the confirmation time of indivial transactions may exceed the average time.)< Br > at present, all recharged currencies can be transferred to currency transaction or contract transaction after they have been confirmed by the platform, and the funds can be transferred to the legal currency trading area for sale after they have been fully confirmed.

3.

Bitcoin is a kind of virtual encrypted digital currency in the form of P2P. Different from 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 the use of cryptography design to ensure the security of all aspects of money circulation. However, on September 4, 2017, the central bank and other seven ministries and commissions announced that virtual currency trading is prohibited in China, and bitcoin is prohibited from circulating in China

according to the first article of the notice on preventing the financing risks of token issuance, we should accurately understand the essential attributes of token issuance financing activities. Token issuance financing refers to the illegal sale and circulation of tokens by the financing subject to raise the so-called virtual currency such as bitcoin and ether coin from investors. In essence, it is an unauthorized illegal public financing behavior, which is suspected of illegal sale of token bills, illegal issuance of securities, illegal fund-raising, financial fraud, pyramid schemes and other illegal criminal activities

Relevant departments will closely monitor relevant developments, strengthen cooperation with judicial departments and local governments, strictly enforce the law in accordance with the current working mechanism, and resolutely deal with market chaos. If suspected crimes are found, they will be transferred to judicial organs. The token or "virtual currency" used in token issuance financing is not issued by the monetary authority, does not have such monetary attributes as legal compensation and compulsion, does not have the same legal status as currency, and cannot and should not be used as currency in the market

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Article 3 of the announcement on preventing the financing risk of token issuance strengthens the management of token financing trading platform. From the date of this announcement, any so-called token financing trading platform shall not engage in the exchange business between legal tender and token and "virtual currency", nor buy or sell token or "virtual currency" as a central counterpart, nor provide pricing, information intermediary and other services for token or "virtual currency"

for the token financing trading platform with illegal problems, the financial management department will request the competent department of telecommunications to close its website platform and mobile app according to law, request the network information department to remove the mobile app from the app store, and request the instrial and commercial administration department to revoke its business license according to law

Article 4 financial institutions and non bank payment institutions shall not carry out business related to token issuance financing transactions. All financial institutions and non bank payment institutions shall not directly or indirectly provide procts or services such as account opening, registration, trading, clearing and settlement for token issuance and financing and "virtual currency", nor undertake insurance business related to token and "virtual currency" or include token and "virtual currency" into the scope of insurance liability. Financial institutions and non bank payment institutions shall report to the relevant departments in a timely manner if they find clues of violation of laws and regulations in token issuance financing transactions

4.

Transaction mode of bitcoin

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. More than 2 bitcoin addresses are available. Figuratively speaking, there are about two grains of sand in the world. If there is an earth in each grain of sand, then the total number of bitcoin addresses far exceeds the number of all the sand on all these "earths"

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. This private key proves that you have ownership of the bitcoin at that address. We can simply understand the bitcoin address as the bank card number, and the private key of the address 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 your address and private key when using bitcoin wallet

after the transaction data of bitcoin is packaged into a "data block" or "block", the transaction is initially confirmed. When a block is linked to a previous block, the transaction is further confirmed. After six block confirmations in a row, the transaction was irreversibly confirmed. Bitcoin P2P stores all transaction history in a "blockchain.". The blockchain continues to extend, and once new blocks are added to the blockchain, they will not be removed. Blockchain is actually a distributed database composed of a group of scattered client nodes and all participants, which is a record of all bitcoin transaction history. Nakamoto predicts that when the amount of data increases, users hope that not all the data will be stored in their own nodes. In order to achieve this goal, he uses the hash function mechanism. In this way, the client will be able to automatically eliminate those parts that it will never use, such as some very early bitcoin transactions

5. Because bitcoin is a decentralized asset, trading between hundreds of exchanges and countless indivials around the world, there is actually no unified price. Each exchange has its own bitcoin price, although these prices are usually very similar. Later in this guide, we'll discuss why all of these different prices are roughly synchronized.

6. Illegal
at present, there is no recognition that any virtual currency is legal in China, including bitcoin, which was very noisy a few years ago. In the end, the central bank directly declared it illegal.

7. Bitcoin is a consensus network, contributing to a new payment system and a fully digital currency. It is the first decentralized peer-to-peer payment network, which is controlled by its users without a central management organization or middleman. From the user's point of view, bitcoin is much like Internet cash. Bitcoin can also be regarded as the most outstanding three style bookkeeping system

bitcoin is proced by mining. Mining is simply to use your hardware equipment to calculate fixed mathematical problems, confirm transactions, and ensure the security of the whole bitcoin network system. The system will give you unequal bitcoin rewards according to the amount of computing power you contribute to the whole network< Bitcoin mining has gone through three stages: CPU, GPU and ASIC; In the second stage, people began to use graphics cards for mining, and some even bought a large number of graphics cards to form a mining machine group for mining; The third stage is to use professional ASIC miner for professional bitcoin mining. Since Avalon proced the world's first ASIC miner, the mining pattern has been completely broken, and the replacement speed of miner is very fast. Take Avalon miner as an example, it has been replaced for three generations.

8. If you claim that you have a bitcoin, then the bitcoin needs to be confirmed by other clients to see whether the bitcoin is yours. The network needs a certain synchronization time, usually one hour or more. If six other clients confirm the message, then the bitcoin is yours.