On bitcoin and decentralization
Publish: 2021-04-15 09:44:00
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. Nakamoto is the first person to discover bitcoin. Bitcoin is not issued by any institution, and the total amount is only 21 million yuan. The transaction of bitcoin needs the consent of 6 people!
3. 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.
4. This is not necessarily true. After all, it is a digital cryptocurrency, each of which is separate and not stored on the website.
5. 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
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
6. I don't know what you mean
7. The design of "decentralization" determines that the "centralized" government cannot touch bitcoin
the emergence, development, amendment, circulation and extinction of bitcoin do not depend on the government, so "whether the government allows" has nothing to do with "whether bitcoin exists"
for example, the birth, development and extinction of the solar system do not need the permission of the government
if bitcoin is exchanged with the government controlled "legal tender" (such as US dollar), the government can influence the performance of bitcoin by controlling the legal tender
if the recognition of such assets reaches the bottom line of% 35 in 2019, the world pattern will be more reasonable, transparent and open
how should we deal with the coming risks- Buy bitcoin quickly to deal with the risk of "no bitcoin".
the emergence, development, amendment, circulation and extinction of bitcoin do not depend on the government, so "whether the government allows" has nothing to do with "whether bitcoin exists"
for example, the birth, development and extinction of the solar system do not need the permission of the government
if bitcoin is exchanged with the government controlled "legal tender" (such as US dollar), the government can influence the performance of bitcoin by controlling the legal tender
if the recognition of such assets reaches the bottom line of% 35 in 2019, the world pattern will be more reasonable, transparent and open
how should we deal with the coming risks- Buy bitcoin quickly to deal with the risk of "no bitcoin".
8. 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
9. In 018, the explosive development of blockchain technology was much like the Internet in 1997. I believe that the development of blockchain technology will certainly be faster than the Internet. If you don't take in some knowledge of blockchain, maybe you will fall behind an era. This article will answer several questions about bitcoin
question 1: how was bitcoin born
on November 1, 2008, a person who called himself Satoshi Nakamoto posted a statement on micro v-bq Er Wu Ba y on a secret cryptography review group (cryptopunk), stating his new idea of e-money bitcoin
question 2: how to proce bitcoin
bitcoin network generates new bitcoin through "mining". In essence, the so-called "mining" is to solve a complex mathematical problem with a computer to ensure the micro v-bq consistency of the bitcoin network distributed accounting system. Bitcoin generates a block every 10 minutes, which contains all the transaction information in the past 10 minutes. Whoever can work out the figures will get the right to keep accounts. After obtaining the accounting right, it will broadcast and store to the whole network. It's uncertain who gets the bookkeeping right. Of course, the stronger your computing ability is, the higher the probability of getting the bookkeeping right is. Then the bitcoin network will generate a certain amount of bitcoin as a reward to reward those who have the right to keep accounts
question 3: what are the characteristics of bitcoin
it is impossible to control the number of issues without a fully decentralized issuing institution. Bitcoin does not need a third-party organization, and it is a peer-to-peer transaction with mutual trust. The establishment of trust is no longer based on large institutions, but on cryptography and code. Bitcoin can be managed on any computer connected to the Internet. No matter where you are, anyone can dig, buy, sell or collect bitcoin. The private key is needed to control bitcoin. It can be stored in any storage medium in isolation, and no one can get it except the user himself. As a means of payment from a to B, bitcoin has no cumbersome limit of quota and proceres. You can pay when you know the address of the other party's bitcoin
question 4: can bitcoin be imitated
it is difficult for the cat to survive. Because bitcoin algorithm is completely open source, anyone can download the source code, modify some parameters, recompile, and create a new P2P currency. However, these counterfeit currencies are vulnerable to 51% attacks. Any indivial or organization, as long as it controls 51% of the computing power of a P2P currency network, can manipulate transactions and currency value at will, which will be a devastating blow to P2P currency. Many Shanzhai coins die in this link. The bitcoin network is robust enough. If you want to control 51% of the computing power of the bitcoin network, the number of CPUs / GPUs required will be astronomical
question 5: why is the total amount of bitcoin 21 million
when bitcoin was born in 2009, each 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 bounty will be halved to 25. When the total amount reached 15.75 million (5.25 million new output, or 50% of 1050), the bounty was further halved to 12.5. And so on. According to its design principle, the total amount of bitcoin will continue to grow until it reaches 21 million more than 100 years later. However, the growth rate of bitcoin micro v-bq in the later period will be very slow. In short, bitcoin proction is halved every four years, and currently 12.5 bitcoins are proced every 10 minutes. In fact, 87.5% of bitcoin will be "g up" in the first 12 years. Moreover, 21 million is only theoretical data. In reality, e to the neglect of bitcoin in the early stage, many bitcoins were lost
question 6: what are the benefits of bitcoin miners
first of all, bitcoin will be rewarded directly after obtaining the bookkeeping right through calculation. But according to bitcoin's rules, as time goes on, the rewards will be less and less. In the future, the income will mainly come from the service charge generated by bitcoin transaction
question 7: why can't bitcoin be modified
for example, if a and B trade, a needs to pay B 100 bitcoins. But if a wants to default, he just wants to pay B a bitcoin. According to the rules of bitcoin, he has to obtain the bookkeeping right of the next 10 minute micro v-bq Er Wu Ba y before he can modify it; Similarly, he has to get another 10 minutes of bookkeeping rights, and so on. So modification is almost impossible
question 8: bitcoin transaction rate
theoretically, the bitcoin transaction rate is 7 transactions per second. In fact, bitcoin currently trades at only one transaction per second
question 9: why does bitcoin have such a strong vitality
if bitcoin is compared to a company, then it has no board of shareholders, board of directors, management, strict leadership, HR, Department Manager, staff, operating site and income. However, bitcoin has been running successfully for nine years without any problems, and its market value is hundreds of billions. The operation of the network relies on a set of mathematical algorithms, incentive mechanism and community for management and governance
question 10: what are the problems facing bitcoin
first, the transaction confirmation time is long. When bitcoin wallet is first installed with micro v-bq-y, it will consume a lot of time to download historical transaction data blocks. While bitcoin transaction, in order to confirm the accuracy of data, it will take some time to interact with P2P network, and the transaction will be completed only after the whole network is confirmed
Second, the public does not understand the principle, and the traditional financial practitioners resist. People who understand the principle know that bitcoin is not manipulated and controlled by a legal person. But the public doesn't understand, and many people can't even tell the difference between bitcoin and q-coin“ "No issuer" is the advantage of bitcoin, but in the view of traditional financial practitioners, "no issuer" currency is worthless.
question 1: how was bitcoin born
on November 1, 2008, a person who called himself Satoshi Nakamoto posted a statement on micro v-bq Er Wu Ba y on a secret cryptography review group (cryptopunk), stating his new idea of e-money bitcoin
question 2: how to proce bitcoin
bitcoin network generates new bitcoin through "mining". In essence, the so-called "mining" is to solve a complex mathematical problem with a computer to ensure the micro v-bq consistency of the bitcoin network distributed accounting system. Bitcoin generates a block every 10 minutes, which contains all the transaction information in the past 10 minutes. Whoever can work out the figures will get the right to keep accounts. After obtaining the accounting right, it will broadcast and store to the whole network. It's uncertain who gets the bookkeeping right. Of course, the stronger your computing ability is, the higher the probability of getting the bookkeeping right is. Then the bitcoin network will generate a certain amount of bitcoin as a reward to reward those who have the right to keep accounts
question 3: what are the characteristics of bitcoin
it is impossible to control the number of issues without a fully decentralized issuing institution. Bitcoin does not need a third-party organization, and it is a peer-to-peer transaction with mutual trust. The establishment of trust is no longer based on large institutions, but on cryptography and code. Bitcoin can be managed on any computer connected to the Internet. No matter where you are, anyone can dig, buy, sell or collect bitcoin. The private key is needed to control bitcoin. It can be stored in any storage medium in isolation, and no one can get it except the user himself. As a means of payment from a to B, bitcoin has no cumbersome limit of quota and proceres. You can pay when you know the address of the other party's bitcoin
question 4: can bitcoin be imitated
it is difficult for the cat to survive. Because bitcoin algorithm is completely open source, anyone can download the source code, modify some parameters, recompile, and create a new P2P currency. However, these counterfeit currencies are vulnerable to 51% attacks. Any indivial or organization, as long as it controls 51% of the computing power of a P2P currency network, can manipulate transactions and currency value at will, which will be a devastating blow to P2P currency. Many Shanzhai coins die in this link. The bitcoin network is robust enough. If you want to control 51% of the computing power of the bitcoin network, the number of CPUs / GPUs required will be astronomical
question 5: why is the total amount of bitcoin 21 million
when bitcoin was born in 2009, each 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 bounty will be halved to 25. When the total amount reached 15.75 million (5.25 million new output, or 50% of 1050), the bounty was further halved to 12.5. And so on. According to its design principle, the total amount of bitcoin will continue to grow until it reaches 21 million more than 100 years later. However, the growth rate of bitcoin micro v-bq in the later period will be very slow. In short, bitcoin proction is halved every four years, and currently 12.5 bitcoins are proced every 10 minutes. In fact, 87.5% of bitcoin will be "g up" in the first 12 years. Moreover, 21 million is only theoretical data. In reality, e to the neglect of bitcoin in the early stage, many bitcoins were lost
question 6: what are the benefits of bitcoin miners
first of all, bitcoin will be rewarded directly after obtaining the bookkeeping right through calculation. But according to bitcoin's rules, as time goes on, the rewards will be less and less. In the future, the income will mainly come from the service charge generated by bitcoin transaction
question 7: why can't bitcoin be modified
for example, if a and B trade, a needs to pay B 100 bitcoins. But if a wants to default, he just wants to pay B a bitcoin. According to the rules of bitcoin, he has to obtain the bookkeeping right of the next 10 minute micro v-bq Er Wu Ba y before he can modify it; Similarly, he has to get another 10 minutes of bookkeeping rights, and so on. So modification is almost impossible
question 8: bitcoin transaction rate
theoretically, the bitcoin transaction rate is 7 transactions per second. In fact, bitcoin currently trades at only one transaction per second
question 9: why does bitcoin have such a strong vitality
if bitcoin is compared to a company, then it has no board of shareholders, board of directors, management, strict leadership, HR, Department Manager, staff, operating site and income. However, bitcoin has been running successfully for nine years without any problems, and its market value is hundreds of billions. The operation of the network relies on a set of mathematical algorithms, incentive mechanism and community for management and governance
question 10: what are the problems facing bitcoin
first, the transaction confirmation time is long. When bitcoin wallet is first installed with micro v-bq-y, it will consume a lot of time to download historical transaction data blocks. While bitcoin transaction, in order to confirm the accuracy of data, it will take some time to interact with P2P network, and the transaction will be completed only after the whole network is confirmed
Second, the public does not understand the principle, and the traditional financial practitioners resist. People who understand the principle know that bitcoin is not manipulated and controlled by a legal person. But the public doesn't understand, and many people can't even tell the difference between bitcoin and q-coin“ "No issuer" is the advantage of bitcoin, but in the view of traditional financial practitioners, "no issuer" currency is worthless.
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