What does GitHub have to do with bitcoin
although bitcoin and Ethernet are both digital currencies, unlike bitcoin, the main purpose of Ethernet is not to build itself as a payment substitute, but to facilitate and monetize the operation of Ethereum, so that developers can build and run distributed applications
ring the global financial crisis in 2007 / 08, the price of gold fluctuated sharply. In March 2008, the price of gold peaked at 1032, then plummeted to 680 in a few months, and then went all the way to the peak in 1920.
There are two relations between bitcash and bitcoin: bitcash is the bifurcated and competitive currency of bitcoin{ RRRRR}
Second, competitive currency. As the name suggests, they are two competing currencies. It is just like the competition of two kinds of homogeneous goods in the market, competing for market share. In the virtual digital currency market, the market share is so large that more people hold one kind of currency, the number of people holding another kind of currency will be relatively reced, forming a competitive relationship between you and me
in these two relationships, competitive currency is easier to understand, while forked currency is more difficult because it is a technical problem
is the relationship between the two currencies clear now
bitcoin is regarded as the first generation application of blockchain technology and the most thorough application of its code testing. However, without bitcoin, there might not be so many people who knew about blockchain now. It can be said that bitcoin has greatly improved the "exposure" of blockchain technology
later, people graally found that the application value of blockchain is far more than bitcoin, but can be applied to many instries to solve the pain points of many instries; The idea of blockchain can also provide a lot of reference for the financial field, which is the real reason for the outbreak of blockchain.
blockchain technology is not only the underlying technology of bitcoin, but also the core and infrastructure of bitcoin bitcoin has been running without any centralized organization operation and management. Later, bitcoin technology was abstracted, which was called blockchain technology or distributed ledger technology
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disadvantages of blockchain technology applied to digital currency:
first, there is no circulation management organization for "decentralization" blockchain technology is essentially a distributed database system with one-way linked list logic structure and P2P network design mode, which determines that there is no unified central control system for virtual currency based on blockchain technology
Second, it is difficult to effectively control the quantity supply the circulation of virtual currency based on blockchain technology is fixed, and according to Fisher Equation, the total transaction volume of the whole society under a certain price level in a certain period has a certain proportion with the required nominal currency volume, while the constant currency volume obviously can not meet the requirements of the growing total price of social goods Thirdly, "mining mechanism" is difficult to create recognized value bitcoin itself has no value and no national credit support. Some people think that "by continuously consuming computing power and energy to inject value into virtual currency", but it is obviously not the most efficient choice to consume millions of calculations in order to find a hash value that meets the requirements Fourthly, procers and early holders are easy to get high seigniorage any virtual currency based on blockchain technology is held by a few people at the initial stage of its development. Take bitcoin as an example. At first, bitcoin was only a proct of a few people's game. The first bitcoin purchase in May 2010 was $10000 BTC's purchase of $25 pizza. The first bitcoin transaction completed in July of the same year was $0.04/btc