RMB price of bitcoin in 2017

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

According to the exchange rate on December 6, 2019, 100 bitcoin = 5206680.68 yuan , exchange rate: 1 bitcoin = 52066.8068 yuan

bitcoin is a kind of digital currency, which is composed of a series of complex codes generated by computer. The new bitcoin is made by preset program

compared with fiat money, bitcoin does not have a centralized issuer, but is generated by the calculation of network nodes. Anyone can participate in the manufacture of bitcoin, and it can circulate all over the world. It can be bought and sold on any computer connected to the Internet. No matter where they are, anyone can dig, buy, sell or collect bitcoin, And in the transaction process, foreigners can not identify the user's identity information

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characteristics of bitcoin

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

according to the currency conversion ratio on January 3, 2020, one bitcoin = RMB 47000