The following is not decentralized: bitcoin

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. 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

3.

Bitcoin is a kind of electronic currency / network virtual currency

bitcoin: also known as "bitcoin", is a kind of network virtual currency. Internet users can use bitcoin to buy some virtual goods, such as clothes, hats, equipment, etc. in online games. Internet users can also use bitcoin to buy real goods

on February 26, 2014, Joe Manchin, a Democratic senator from West Virginia, issued an open letter to a number of regulatory authorities of the US federal government, hoping that the relevant authorities would pay attention to the status quo of bitcoin's encouraging illegal activities and disrupting the financial order, and demanded that actions be taken as soon as possible to completely ban the electronic currency

from 12:00 noon on January 24, 2017, China's three major bitcoin platforms officially began to collect transaction fees

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currency features:

1, decentralization: bitcoin is the first distributed virtual currency, the whole network is composed of users, and there is no 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

advantages of bitcoin:

1, it is completely decentralized, without issuing institutions, it is impossible to manipulate the number of issues. Its distribution and circulation are realized through open-source P2P algorithm

2, anonymity, tax exemption and supervision free

3, robustness. Bitcoin is completely dependent on P2P network and has no distribution center, so it cannot be shut down externally. Bitcoin price may fluctuate and collapse, and many governments may declare it illegal, but bitcoin and its huge P2P network will not disappear

4, borderless and cross-border. Cross border remittance will go through layers of exchange control agencies, and the transaction records will be recorded by many parties. But if you trade with bitcoin, enter the digital address directly, click the mouse and wait for the P2P network to confirm the transaction, a lot of money will pass. It does not go through any regulatory agencies and will not leave any cross-border transaction records

5, Shanzhai people are difficult 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

but these counterfeit currencies are very fragile and 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 counterfeit 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

the weakness of bitcoin

1, the fragility of trading platform. The bitcoin network is robust, but the bitcoin trading platform is fragile. Trading platform is usually a website, which will be attacked by hackers or shut down by competent authorities

2, the transaction confirmation time is long. When bitcoin wallet is first installed, 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

3, the price fluctuates greatly. Due to the intervention of a large number of speculators, the price of bitcoin for cash fluctuates like a roller coaster. Making bitcoin more suitable for speculation rather than anonymous trading

4, the public did not understand the principle, and the traditional financial practitioners resisted. Active netizens understand the principle of P2P network and know that bitcoin has no legal person to manipulate and control

but the public doesn't understand, and many people can't even distinguish 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

4.

The concept of bitcoin was first proposed by Nakamoto in 2009. According to Nakamoto's idea, open source software was designed and released, and P2P network was built on it. Bitcoin is a kind of P2P digital currency. Point to point transmission means a decentralized payment system

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 money circulation

bitcoin: also known as "bitcoin", is a kind of network virtual currency. Internet users can use bitcoin to buy some virtual goods, such as clothes, hats, equipment, etc. in online games. Internet users can also use bitcoin to buy real goods

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. Bitcoin network will automatically adjust the difficulty of mathematical problems, so that the whole network will get a qualified answer about every 10 minutes. Then bitcoin network will generate a certain amount of bitcoin as a reward to reward the person who gets the answer

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users can buy bitcoin, and at the same time, they can use computers to "mine" bitcoin according to a large number of calculations. When users "mine" bitcoin, they need to search for 64 bit numbers by computer, and then compete with other gold diggers by repeatedly solving riddles to provide the required numbers for bitcoin network. If the user's computer successfully creates a set of numbers

bitcoin is e-cash similar to e-mail. 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

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network bitcoin

5. After level 70, about 1 ignore = 4 panel attack, when the equipment is normal.

6. 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.

7. Bitcoin is popular because its core value is recognized by more and more people; Secondly, economic inflation is affected by many factors. On the contrary, when economic inflation occurs, bitcoin, gold and other investment procts may become good hedging means; The following is a detailed description of bitfirst bitcoin platform professional analysts comparing with the value of bitcoin:

the core essence of things can best reflect its core value. First of all, we need to find out what the core essence of bitcoin is

first of all, the essence of bitcoin is not an algorithm. All symmetric encryption algorithms and asymmetric encryption algorithms used by bitcoin are neither original nor first used by bitcoin. These algorithms were designed by mathematicians decades ago and have been applied to various encryption and authentication scenarios for a long time

secondly, the core of bitcoin is not a P2P network. The BT protocol and eMule Protocol of P2P have long been widely used to share files on the Internet, which is not the original technology of bitcoin< Thirdly, the core of bitcoin is not an anonymous currency. In other words, RMB is also an anonymous currency

fourthly, the core of bitcoin is not a decentralized currency issuance mechanism. In ancient times, picking shells on the seashore can be used as currency. This is not a decentralized currency issuance mechanism< Fifth, the core of bitcoin is not a kind of software proced by communism. The essence of open source movement is the Communist movement. The communist cooperation mode of everyone contributing and everyone working for free has already created great software and applications like Linux, Wiki, Firefox and mysql

why can ordinary and innocuous technologies be combined to turn decay into magic? What is the core essence of bitcoin? How can people who do not understand the technology understand what bitcoin has done and what functions it has realized? To solve this problem, we need to explain that bitcoin is composed of the following four elements:

bitcoin software, bitcoin network, bitcoin protocol and bitcoin database

the operation and relationship of the four are the core essence of bitcoin, that is, many computers running bitcoin software use bitcoin protocol to communicate, forming a bitcoin network, and maintaining the same database through this network

similarly, computers using IP software communicate through IP protocol to form an IP network, and each node has an IP address

the core value of bitcoin is that it has successfully generated an irreversible and tamperable database on the P2P network for the first time. Note that it is "the first success" rather than "the first time". This success is based on "human desire", not divorced from "human desire". The key to the failure of the Communist practice of the people's commune is that it deviates from the objective law of "human desire". Therefore, the first key to the success of bitcoin is to conform to the objective law. Natural principle is human desire, and human desire is natural principle

in theory, bitcoin's database can be expanded infinitely to store any type of data. Now it is mainly used to store transaction accounts, that is, currency function, but it is only one of the applications. Relying on this database, we have developed domain name registration, securities trading and other functions. But this is just the beginning. There are many kinds of applications that may emerge in the future

this technology can be reused. At present, there are thousands of counterfeit coins, but please note that in the history of technology development, the value of "first success" is very huge. For example, IP protocol is the first network layer communication technology that successfully realizes global interconnection, that is, the "de facto standard" of Internet. What is the de facto standard is that any country, organization or indivial in the world, without any negotiation, agreement or legal regulation, uses IP protocol to access the Internet. This IP technology is not the earliest network layer protocol, or even the most perfect (the current IPv4 should be replaced by IPv6 to fix some defects). Because of the huge cost of conversion, once the de facto standard is formed, it is difficult to replace it without fatal defects

according to the current situation, bitcoin database and bitcoin protocol may form a de facto protocol standard, and its value will grow with the growth of its application, but this value may not be reflected in the price of bitcoin, because bitcoin is only one of its applications.