The relationship between digital currency and gold

1. No, China doesn't have so much gold. It is endorsed by national sovereign credit.

2. That's because bitcoin was hyped by others and immediately became popular, and the public saw the benefits.

3. It seems that the issue of currency is based on gold, which was the previous gold standard system

4. 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.

5. Can gold digital currency be invested? I think gold, digital currency, can be invested. For many years, gold has been increasing in value. So I think we can invest.

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.

1. Legitimacy

the domestic futures market countries set up financial derivatives trading venues, which are composed of four exchanges, namely, China Gold Exchange, Shanghai Futures Exchange, big business exchange and Zheng business exchange, which are supervised and managed by China Securities Regulatory Commission, futures monitoring center and futures association according to law

except bitcoin, which has a perfect management mechanism, the management of other digital currencies is chaotic and belongs to non-governmental organizations. Governments have never recognized the legality of digital currencies. Credit is completely managed by the self-discipline of issuers and participants, which poses great risks

Domestic futures: 9:00-10:15 a.m., 10:30-11:30 p.m. and 13:30-15:00 p.m. from Monday to Friday (except holidays)

digital currency: it can be traded 24 hours a day, and the trading time is in line with the international market

3. Proct selection

domestic futures: at present, there are dozens of futures varieties, and each variety has at least four months of contract, with standardized management and large trading volume, so it is difficult for funds to control the market

digital currency: the management is not standardized. Although many non-governmental organizations or indivials have set up a lot of digital currencies, the information is limited, and it is difficult to understand the situation of a certain digital currency. Some digital currencies have hierarchical relationship between the upper and lower families. Investing in a certain digital currency is a matter of luck, without any data as a reference

4, two-way trading

domestic futures, with its own leverage, can be two-way trading, long and short can be, t + 0 trading, after the profit can appear

digital currency: long by one side, and the so-called depletion of power resources to mine, the relationship between the superior and the subordinate profits

8. There is no direct link between gold and bitcoin< Both of them are not money:
money is widely accepted as a medium of exchange. Gold is classified as money, which can be traced back to the early capitalism. At that time, gold could be used to exchange anything, but it didn't play much role. Gold is often in short supply. As a tradable tool and asset currency, it can be exchanged for a certain amount of US dollars
bitcoin has now become a means of online and offline payment, which has been accepted by many countries, but it has not been accepted by the whole world
2. The two are not irreplaceable: gold was used a long time ago, but it was rarely found and created by substitutes like gold. Bitcoin has many substitutes. Who knows what other encrypted electronic currency and technology will destroy the current market
3. Gold is a commodity, but bitcoin is not
gold is a basic commodity or hard asset that can be used in business, and can be used as a material to proce other commodities. People can also use gold for physical delivery and then make it into some other form for use. Although bitcoin is storable, it is not physical and cannot be held, felt or transferred
4. Are bitcoin and gold risk averse
bitcoin and gold are rare, their prices may be volatile, and each of them serves as an alternative investment to those who lack confidence in fiat money and monetary policy. Bitcoin trading is not as easy as gold, because people have to buy bitcoin through online trading platforms or invest in over-the-counter bitcoin trusts.

9. The digital currency should be linked to gold, and then, for example, in exchange for the US dollar, it is linked to gold. The currency fluctuates up and down with the appreciation or depreciation of gold.

10.

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

< H2 > extended data:

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