Is bitgold decentralized

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. 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

4. Decentralization, the distribution and circulation of network gold, through the open-source P2P algorithm. Without issuers, it is impossible to manipulate the number of issues.

5. The relationship between bitcoin and gold
bitcoin, a blockchain based digital currency, is often regarded as a global safe haven asset like gold. In this age of global turmoil, even gold has become unreliable and may be confiscated as India has. Some people have begun to think that bitcoin can replace gold, because bitcoin not only has the reserve capacity of gold, but also has some capabilities that gold does not have, such as low handling charges, rapid transfer capacity, decentralization and so on. With the increasing popularity of bitcoin and the decreasing volatility, the status of gold has been threatened
will bitcoin shake the status of gold?
gold has a long history, almost as long as the history of human civilization, and has withstood numerous tests in history. Bitcoin is less than a decade old, but its value has risen sharply. There is no support behind bitcoin. Of course, since the end of the gold standard, there has been no support from other currencies, except that there is no support from the central bank behind bitcoin. It's hard to predict whether bitcoin will exist in the next decade, a hundred years or even a thousand years.

6. Gold is a general equivalent, hard currency. All currencies are based on gold. Therefore, in addition to issuing currency, every country should also pay attention to gold reserves. Inflation means that more money is not worth money, and the reference object is also gold. It can be understood that gold is no longer the problem of value preservation, but gold is the general reference of value

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. Unlike most currencies, bitcoin does not rely on specific currency institutions to issue. It is generated by a large number of calculations based on specific algorithms. Bitcoin economy uses a distributed database composed of many nodes in the whole P2P network to confirm and record all transactions, and uses cryptography design to ensure the security of all aspects of money circulation. The decentralized nature and algorithm of P2P can ensure that it is impossible to artificially manipulate the value of bitcoin through mass proction. The design based on cryptography can make bitcoin only be transferred or paid by the real owner. This also ensures the anonymity of money ownership and circulation transactions. The biggest difference between bitcoin and other virtual currencies is that the total amount of bitcoin is very limited and it has a strong scarcity. 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 21 million
from the two concepts, the main differences are as follows: gold is a physical object and a general equivalent; Bitcoin is a virtual currency, which is easy to be manipulated, and its value has a certain degree of hype.

7. Bitsharesblockchain is an instrial level decentralized platform focusing on high-performance financial smart contracts. Bitshares (BTS) is the core token of bitshares blockchain, which has practicability and management authority.

8.

There is no direct link between gold and bitcoin

neither of them is money: money is widely accepted as a medium of exchange, and gold is classified as money. To a large extent, it can be traced back to the early capitalist period, when gold could be used to exchange for anything, as a tradable tool and asset currency, to exchange for a certain amount of US dollars

bitcoin has now become a means of online and offline payment, and many countries have accepted this way, but it has not been accepted by the whole world

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unlike all currencies, bitcoin does not rely on specific currency institutions to issue. It is generated by a large number of calculations based on specific algorithms. Bitcoin economy uses a distributed database composed of many nodes in the whole P2P network to confirm and record all transactions, And the use of cryptography design to ensure the security of all aspects of money circulation

the decentralized feature and algorithm of P2P can ensure that it is impossible to artificially control the value of bitcoin by mass manufacturing. The design based on cryptography can make bitcoin only be transferred or paid by the real owner

This also ensures the anonymity of money ownership and circulation transactions. The biggest difference between bitcoin and other virtual currencies is that the total amount of bitcoin is very limited and it has a strong scarcity

9. For a long time, the hard bifurcations of bitcoin are also a reflection of the divergent attitudes within the digital currency community. This way of rebuilding technical barriers has been questioned. Marek palatinus, the founder of bitcoin, does not look at the prospect of bitcoin gold, saying that it may not be able to achieve the goal of decentralization
in the disagreement, the attitude of the third-party platform is also crucial, which determines whether the holder can exchange bitcoin for bitcoin gold, and will have a profound impact on the market recognition of the latter. At present, more than 20 trading platforms have said that they will support the trading of bitcoin gold after it comes out
after the major exchanges have declared their position on hard bifurcations, coinbase, the largest digital currency exchange in the United States, said that it would still regard the existing bitcoin blockchain as "bitcoin" and call the bifurcated blockchain bitcoin2x (b2x). At the same time, in view of the fact that developers have not yet open source the forked code, the forked blockchain can only be supported by proving its value and security in practice
but the company's attitude changed dramatically. On the 25th, the company turned to clarify the foreword theory, supported the second generation blockchain and regarded it as "real bitcoin". The company also said that it should be neutral to the bifurcation, so that market decisions can ensure the fairness and openness of the bitcoin platform. Many holders said that this change has added to the uncertainty of bitcoin's gold prospects.