Zimbabwe digital currency

1. The concept of bitcoin (BTC) 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
unlike all currencies, bitcoin does not rely on a specific monetary institution to issue. It is generated by a large number of calculations based on a specific algorithm
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
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2. Ah, the transaction logic of bitcoin is generally based on a principle of a blockchain, and then as we say, it is a buy and buy out of content

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. There is no so-called five virtual digital currency trading platforms. There are only five domestic bitcoin trading platforms
the five domestic bitcoin trading platforms include bitcoin China, OK, fire coin, bitcoin trading network and China bitcoin
Shanzhai coin platforms include Xigu, bitage, jucoin, etc.

5. Is one MB C the digital currency of Zimbabwe? If this digital currency is indeed Zimbabwe's digital currency, it is also a kind of currency developed at a later stage.

6.

Zimbabwe's currency is known for its crazy devaluation, and "Billionaires" are everywhere Ten billion Zimbabwean dollars is not even a dollar

Zimbabwe's foreign currency shortage and high deficit are putting the country at great risk. People seeking to preserve their assets have to choose between the scarce US dollar, the "bond currency" just issued by the government last year, bitcoin, which is famous for its huge risks, and various consumer goods

Zimbabwe's commodity export prices are relatively high. In 2016, Zimbabwe's exports fell 6.9% year-on-year, according to the website of the African Development Bank. Roger Southall, a sociology professor at the University of Witwatersrand in South Africa, wrote that although the proction of tobacco, Zimbabwe's main export commodity, has recovered, the quality of tobacco has declined, so export profits are also at a low level

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Zimbabwe Wei reasons for inflation:

1. The land reform around 2000 is the beginning of decline. In 2000, the land reform was changed into violent land reform. Many veterans seized the land directly by force, and they did not pay enough or no compensation to the original owner of the land. The negative result of land reform is obvious. Violent land reform has become a long-term conflict between white farmers and black people. After the black veterans and black people in power got a large area of land, they would not cultivate it effectively

The government has been busy with the party struggle for a long time and has no time to develop its own economy. First, in the 1980s, ZANU and ZAPU fought. Around 2008, there was another election dispute between MDC and ZANU. The long-term party struggle and the government's unwillingness to economic and social development have resulted in bad results

3. Many rounds of Western sanctions make the economy of Tianjin and Pakistan worse. From 2000 to 2002, the Zimbabwean government implemented the "rapid land reform plan", which expropriated white land and resettled black farmers without or without land, resulting in unprecedented intensification of social conflicts in Zimbabwe

Subsequently, the United States and Europe announced a series of sanctions against Zimbabwe. Specific measures include property freeze and travel ban for specific indivials; For example, sanctions policies related to international financial institutions (IFIs); Such as government to government restrictions on loans and development assistance and arms embargoes. Western economic sanctions have made Zimbabwe's domestic economy worse

4. Excessive currency leads to economic collapse. Gono, the governor of the central bank, has no independence of monetary policy at all. He is frantically issuing money to meet the domestic political needs. At the same time, we should realize the double track system of exchange rate and control the official exchange rate. On the one hand, the Zimbabwean dollar (Zimbabwean dollar) depreciated rapidly and continued hyperinflation; On the other hand, the official exchange rate remains stable, resulting in a huge difference from the market exchange rate

7. Log in to the app of the exchange to mine directly by mobile phone, or enter the community, or rent monitoring equipment. You pay attention to TCRs.