Bitcoin's final million

1.

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

extended data

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

2.

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

extended information:

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

3.

Bitcoin is a kind of network virtual currency. Bitcoin network generates new bitcoin through "mining". In essence, the so-called "mining" is to use computers to solve a complex mathematical problem to ensure the consistency of bitcoin network distributed accounting system. Assuming that the mining computing power is 100 mhash / s and the total computing power is 4000 ghash / s per day, 3600 bitcoins can be g out every 24 hours

China's computing power has accounted for more than 75% of the world, that is to say, 75% of bitcoin in the world is made in China. How long does it take to dig a bitcoin

bitcoin used to be very good at "digging", which can be done by ordinary computer CPU, and it can automatically "solve problems" by downloading software. But with the rise of currency price, more and more people want to "solve the problem", and the difficulty of mining is also increasing. Now, the amount of computation needed to dig a bitcoin is beyond the reach of ordinary people. Ordinary computers can't afford it

instry insiders said that in 2014, 100 bitcoins were generated from 500000 yuan of electricity charge per day, and the cost of electricity charge alone was 5000 yuan per coin. But now, the same cost has more than doubled, and the electricity cost of each bitcoin is as high as 10000 yuan

in the generation mechanism of bitcoin, mining reward is decreasing. At the beginning of the birth of bitcoin, the miners could get 50 bitcoins for each page of the ledger, and then 25 bitcoins for each page of the ledger, decreasing in turn. It's like digging gold. At first, it's more and less. The time point at which each new reward is reced by half is called half bitcoin proction

assuming that the mining computing power is 100 mhash / s, the total computing power is 4000 ghash / s per day in 2014, and 3600 bitcoins are g out every 24 hours

now, we can understand the difficulty of bitcoin digging in this way, which is equivalent to 100 million dice throwing numbers less than 100 million and 50 million. Whoever throws them first will get the bookkeeping right. At this point, 1050 million is a hash value. The process of throwing dice is called hash collision. The unit of mining power is the number of hash collisions per second

at present, the computing power of bitcoin in the whole network has reached 2.36 billion hash collisions per second, which is equivalent to the number of water droplets in more than 200000 50 meter long standard swimming pools. But even with such a large amount of computing power, it will take about 10 minutes to hit a hash value that meets the requirements

in 2012, bitcoin's output was halved for the first time, and in July 2016, bitcoin's output was halved for the second time. At present, 12.5 bitcoins are awarded for recording one page of account book. The next halving will take place around 2020, and the total number of bitcoins will not increase by 2040, with a total of 21 million

Related videos: how long does it take to dig a bitcoin

4.

People who are familiar with the coin circle can be described as thundering with the name of Li Xiaolai. In the instry, he is known as & quot; The richest man in bitcoin;, The most well-known story is that before bitcoin became popular, he bought 100000 bitcoins. Now his personal value is conservatively estimated to have exceeded 7 billion yuan, which is the envy of everyone. However, in my opinion, his most admirable is his precise investment vision

After

, he also published many books, which are well-known in the instry. In fact, the popularity of bitcoin has warmed up a lot recently. Compared with the price of tens of thousands of dollars, according to the latest data, the value of a bitcoin is about $9500. If it is the investors who buy at a high price, they should lose a lot of money now< Summary: Li Xiaolai's success is closely related to his precise investment vision. When no one was optimistic about the development of bitcoin in those years, he had foreseen that this form of virtual currency would become the target of many people's pursuit in the future, and even the mining for it. After all that, what other well-known virtual currencies do you know besides bitcoin? Welcome to share and discuss in the message area. The change of science and technology and the progress of the times, I will be with you< br />

5.

One of the controversial properties of bitcoin is its fixed supply, which ensures that it will not be subject to inflation. It has also become a key factor in the rapid growth of bitcoin in the past eight years. But what is the total cap of 21 million? Many people know that this is the fixed amount written by Nakamoto in the algorithm, but the reason for his design has not been clearly explained. This is the recent trend from the screenshot of the official website of coin e-commerce. You can refer to

6. It's different!

7. This statement is widely spread on the Internet, but it is likely to be a rumor. This statement was actually put forward by a bitcoin blogger in 2012, and has not been confirmed at all. However, there is a saying in the instry that has received a lot of support. The 50 bitcoins awarded by Chuangshi block have entered the address of Nakamoto Tsung. In the bitcoin network, the number of bitcoins owned by each address is publicly available. Therefore, the number of bitcoins owned by Nakamoto Tsung's address to receive the genesis block award is searchable, which is currently 67. Fifty of them came from the genesis dig award on January 3, 2009, and the other 17 were transferred in by many bitcoin enthusiasts, which may be to show respect for Nakamoto.

8.

finally, we get the following relationship between bitcoin price and number of users, which is the logical relationship. It is a kind of equation to describe the relationship between the number of species and time in biology, so the title of the paper is "bitcoin spreads like a virus"

the study also found that this relationship is not accidental, but there is a law behind it, which is Metcalfe's law

Metcalfe's law

in the 1980s, Robert Metcalfe, the inventor of Ethereum, proposed a method to evaluate the value of the Internet. He believes that the value of the network is directly proportional to the square of the network nodes (users). This is the so-called "network effect". The more users, the greater the value of the network

in a network with n users, the number of links between each user and other users is n (n-1) / 2. When n is large, n (n-1) / 2 is about n & # 178;. In this way, Metcalfe's law takes the following form: network value equals the constant c times the square of n

However, if n grows linearly with time, the network value will grow exponentially with time, and there is no boundary, which is obviously not in line with the reality. Therefore, in 2013, Metcalfe revised that n should be logistic growth, which is known as "s" growth

this rule is not only applicable to bitcoin, Peterson also studied the price change of Facebook over time, and found that the price of Facebook also applies to Metcalfe's law

9. There are always some people who are willing to be cheated, and no one can help them.

10. Coins and medals belong to group 1403, category 14 of the trademark classification
according to the statistics of the signpost website, 10 trademarks of coins and medals have been registered
how to choose other categories for registration:
1. One trademark is registered (clock and watch, group number: 1404), accounting for 10%
2. One trademark is registered (jewelry, group number: 1403), accounting for 10%
3. One trademark is registered (GEM, group number: 1403), The proportion of registration is up to 10%
4. One trademark is registered (precious metal crafts and decorative articles, group number: 1403), and the proportion of registration is up to 10%
5. One trademark is registered (jewelry, group number: 1403), and the proportion of registration is up to 10%
6. One trademark is registered (timing instrument, group number: 1404), The proportion of registration is up to 10%
7. One trademark is registered (precious metal box, group number: 1402), and the proportion of registration is up to 10%
8. One trademark is registered (precious metal and its alloy, group number: 1401), and the proportion of registration is up to 10%
9. One trademark is registered (pearl, group number: 1403), The registration rate is 10%
10. There is one trademark selected for registration (jewelry box, group number: 1402), and the registration rate is 10%