Decentralization of bitcoin civilization

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

6. 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.

7. Because most people do not have the courage and ability to challenge the strongest hegemonists in the world. Nakamoto also wanted to vent his anger before he created bitcoin, but something unexpected happened to him. He successfully challenged the hegemonists! But he was also afraid for various reasons and did not dare to go on the road any more. Nakamoto also came up with the idea of decentralizing money under the condition that the excessive issuance of coins led to the rapid shrinkage of personal income for many years. Bitcoin was just put forward by him, and was jointly completed by more knowledgeable friends on the Internet.

8. 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".

9. 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

10. What is bitcoin? What's the use of Internet? On the evening of the 12th, the computer blackmail worm named "eternal blue" broke out on a large scale in the world. It is said that "eternal blue" has spread to more than 100 countries, including Europe, the United States, China, etc. according to incomplete statistics, there are more than 1 million computers in the world, most of which are local area networks of universities and scientific research institutions. It is estimated that in the past 24 hours, about 150000 people have paid ransom to hackers through bitcoin trading platform. If this estimation is reliable, the amount of bitcoin that hackers have obtained is about 600 million yuan. If there is no accident, more people will pay ransom in the future. The amount of blackmail is estimated to be more than 10 billion! First of all, bitcoin does not belong to any country, indivial or organization. It is an uncontrolled and decentralized currency. Kun Peng made a search on it. In fact, bitcoin has been used as ransom in the early years. The method has not changed much. It's all encryption and blackmail. The person in charge of F-Secure, a network security company, once said that the encryption and blackmail software has become their biggest headache. Once the computer is infected, not only the hard disk drive is encrypted, but every file will be invaded. Although such incidents have emerged one after another in the past, it's only that they didn't have as much impact in the past as this one. Besides, people like to forget most, so they are not well known and it's normal. For example, around 2013, hackers began to extort bitcoin by illegally encrypting users' PC data and personal information. In 2014, an Australian executive was harassed by hackers after he paid $14000 worth of bitcoin ransom for malware under the pressure of online hackers. In 2015, hackers launched a third cyber attack on three Greek banks and demanded 20000 bitcoins (worth 7 million euros) as ransom from each of them. In 2015, the police department in tuxbury, Massachusetts, was attacked by hackers, resulting in the computer unable to log in. In order to prevent the loss of important data, the police station finally paid 500 bitcoin "ransom" as required by hackers. In 2016, a hacker hijacked the network of the Hollywood Presbyterian Memorial Medical Center through software, paralyzing the operation of the hospital. The hospital decided to pay 40 bitcoins, equivalent to about 17000 US dollars, as a "ransom" to the hacker Kunpeng believes that hackers choose bitcoin mainly because it has the characteristics of decentralization, globalization and anonymity like the Internet. Transferring bitcoin to the other side of the earth is as simple, low-cost and unlimited as sending e-mail. Bitcoin is therefore used in cross-border trade, payment, remittance and other fields. Moreover, bitcoin can be used to cash, which can be converted into the currency of most countries. Bitcoin investors generally believe that the reason why hackers choose bitcoin to pay ransom is that bitcoin not only has advantages over other traditional payment tools, but also is the best choice among other virtual currencies. Firstly, bitcoin has certain anonymity, which is convenient for hackers to hide their identities; Secondly, it is not subject to geographical restrictions and can collect money on a global scale; At the same time, bitcoin also has the characteristics of "decentralization", which allows hackers to automatically process the ransom of victims through programs. With the technical support of the network, the manufacture and issuance of bitcoin are not based on the trust of the central issuing institution, and the operations such as transfer and other transactions do not even need names. That is to say, to collect money with bitcoin, you don't need to open an account in the real name of a financial institution, and you don't need to go through any third-party institutions, such as the third-party payment that we use most at present. You just need to download and register an independent bitcoin wallet. If what the criminal extorts this time is not bitcoin, US dollars or other currencies, and what the criminal gives is not a bitcoin wallet address, but a collection account of a bank, the hacker may have been locked or arrested before receiving the money. Now you know, anyway, I don't need bitcoin. Please pay more attention