Bit ratio decentralization

1. bitcoin is valuable under certain circumstances, but it is worthless under certain circumstances. Because it's not legal tender. It is impossible for any country to get the right to issue legal tender to use any mining machine. Bitcoin is just a virtual number. While it's still possible to change money, change it quickly! It's too late to wait until it's worthless at the end.

2. Because bitcoin does not exist in the issuing institutions (bitcoin is extracted from the network), nor does it exist in banks, but directly through a personal to personal transfer.

3. This is not necessarily true. After all, it is a digital cryptocurrency, each of which is separate and not stored on the website.

4. For example, I borrow money from you in a village. Normally, if I am afraid that you will not repay the money, I can find an intermediary recognized by everyone, such as the village head as the guarantor, and sign an IOU. In this way, if you default at that time, I can find an intermediary to prove that you really owe me money, But there are two problems: 1. What if the village head finds out that his long lost son colludes with him to cheat you on money? 2. What if the middleman dies on the spot the next day! This is about trust and security. If the method of blockchain is to provide you with the certificate of the whole village (distributed), so that everyone knows about it and the other party can't default on it. Second, even if a small number of people or village heads deny (some nodes commit crimes) that they have lost the IOU or tampered with the content, there will still be others to make the basis

above, explain the two problems of building owners: 1. Decentralization, because the account book records are not centralized in the hands of each participant, and you will get paid if you save and keep accounts. 2. Since I can get rewards by saving and keeping accounts, can I just keep accounts instead of storing them? If you have a mining pool, you can keep accounts for it and store it for you. In this way, you can still get good rewards. There are only a few mining pools in the world, so they are centralized

5. For more technical overview of betterhash protocol currently under development, it should be enough to see the speech of Matt Corallo. It is unnecessary to understand the problem of reprinting the theory of self fighting game network in this paper, because Conceptually speaking, betterhash is better objectively, and it does not need a complete code implementation to understand how important it is.

6. Litecoin is a kind of network currency based on "peer-to-peer" technology, which can help users pay to anyone in the world immediately. At present, lightcoin is the second virtual currency after bitcoin in global circulation market value. The legends of bitcoin, Wright silver, infinite copper and pennies aluminum (Internet) are popular in the circle. The popular digital currencies in 2013 include bitcoin, Leyte coin, zeta coin, pennies (Internet), invisible gold bar, red coin, pole coin, BBQ coin and prime currency. At present, hundreds of digital currencies are issued all over the world. Litecoin is inspired by bitcoin (BTC), and has the same implementation principle in technology. The creation and transfer of litecoin is based on an open source encryption protocol, which is not managed by any central authority. Litecoin aims to improve bitcoin. Compared with bitcoin, litecoin has three significant differences. First, the liteoin network can process a block every 2.5 minutes (instead of 10 minutes), so it can provide faster transaction confirmation. Second, the output of litecoin network is expected to be 84 million litecoin, which is four times the amount of currency issued by bitcoin network. Thirdly, the scrypt encryption algorithm first proposed by Colin Percival is used in litcoin's workload proof algorithm, which makes it easier to mine litcoin on ordinary computer than bitcoin. Each litecain is divided into 100000000 smaller units, defined by eight decimal places. Lightcoin needs to be generated by "miner's mining". Mining is done by hashing with computer graphics card. If the value of "mine burst" is calculated, the system will reward 50 lightcoin at one time. At present, the computing power of lightcoin is growing rapidly, and miner can't dig mine through several computers. Therefore, it needs to be added to the mine pool, which collects all the computing power, It is estimated that the probability of calculating the "blasting" value is higher. At present, the well-known ore pools abroad include: wemineltc, coinotron, etc

7. If Alipay's server fails, the Alipay will not be able to get rid of it any day. So, it cannot do without Alipay's transfer. You can ask me if you don't understand

8. Bitbox advocates secure trading

9. This is based on a specific code. A specific number of coins are limited, so many are made, many are printed, so the proportion of bitcoin is very unstable, and it is normal to rise or fall by thousands
mining is equivalent to using a mining machine (which looks like a computer host, but it's very difficult to kneel down for tens of thousands) to find it on the Internet according to calculation
what else do you don't understand

10. The US dollar interest rate increase is a kind of regulation of the US government on its own economy. The increase of interest will undoubtedly make the unit dollar buy more goods. In other words, the dollar will appreciate, so the unit dollar will exchange more RMB, and the relative RMB will depreciate against the US dollar. Therefore, the interest rate increase of the US dollar will make the RMB relatively devalued