DW digital currency
bitcoin is a kind of 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 will pay bitcoin directly to the other party according to the recipient's address through the computer or smart phone. The following table lists some websites that download bitcoin wallets and addresses for free
a bitcoin address is a string of letters and numbers about 33 bits long, always starting with 1 or 3, such as ""
bitcoin software can generate address automatically, and it does not need to exchange information online when generating address, so it can be offline. More than 2 bitcoin addresses are available
figuratively speaking, there are about two grains of sand in the world. If there is an earth in each grain of sand, then the total number of bitcoin addresses far exceeds the number of all the sand on all these "earths"
extended materials:
bitcoin is introced as follows:
bitcoin has its own technical advantages in blockchain digital currency. Bitcoin has four main characteristics: no centralized issuer, limited total amount, no geographical restrictions and anonymity. Although bitcoin is called "currency", because it is not issued by the monetary authority, it does not have the monetary attributes of legal compensation and mandatory
is not a real currency. In nature, bitcoin should be a specific virtual commodity, which does not have the same legal status as currency, and can not and should not be used as currency in the market
however, the digital currency incentive mode of this app is very interesting, and it is still in the testing stage.
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Inflation means:
in economics, it means that the overall price level continues to rise. General inflation is currency devaluation or decline of purchasing power, while currency devaluation is the relative decrease of currency value between two economies. The former is used to describe the national currency value, while the latter is used to describe the added value in the international market. To put it simply, inflation means that money is too much and money is worthless
the reasons for inflation are as follows:
first, there is too much money. Too much money is the root of inflation. "Inflation is a monetary phenomenon in the final analysis.". If the money supply and output maintain the same proportion of growth, it will not lead to inflation. If the growth rate of money supply exceeds the growth rate of output, there will be a phenomenon of "too much money chasing too few goods", and the price of goods will be at a relatively high level, which will lead to inflation
The second is the pull of demand. After the increase of demand, whether the supply can be increased depends on whether there are idle or wasted resources in the economic society. If there are a lot of idle and wasted resources, with the increase of total demand, supply will increase correspondingly, output will increase, and employment will increase, without the pressure of inflation. If the quantity of resources is limited and the demand increases, the supply cannot increase with the increase of demand. At this time, the increase of demand will only lead to the rise of price level The third is the promotion of cost. Cost driven inflation refers to the inflation caused by the rise of proction cost and proct price e to the rise of proction factor price (such as wage, profit, rent and interest) under the condition of constant total demand
expand data:
economist Hayek said: "inflation is the government's public theft of the people." Don't look at the fact that the government doesn't levy any tax on the construction of the bridge. In fact, inflation itself is a kind of tax, and it is the most vicious one. Its impact on everyone is not equal
inflation rate, also known as the price change rate, is the ratio of the excess amount of money to the actual amount of money needed, which reflects the degree of inflation and currency depreciation
In economics, the inflation rate is the rising range of the average price level (subject to inflation). If the size of the balloon is the price level, then the inflation rate is the inflation degree of the balloon. In other words, the inflation rate is the degree of decline in the purchasing power of money< EM > bitcoin < / EM >
< EM > < / EM > the concept of bitcoin was first proposed by Nakamoto in 2009. According to Nakamoto's idea, the open source software and the P2P network on it were designed and released. 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. It is generated by a large number of calculations based on specific algorithms. 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 currency 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
bitcoin can be cashed and converted into the currency of most countries. Users can use bitcoin to buy some virtual items, such as clothes, hats and equipment in online games. As long as someone accepts it, they can also use bitcoin to buy real-life items[ 1-2]
on February 26, 2014, Joe Manchin, a Democratic senator from West Virginia, issued an open letter to a number of regulatory authorities of the federal government of the United States, hoping that the relevant institutions would pay attention to the current situation of bitcoin encouraging illegal activities and disrupting the financial order, and take action as soon as possible to completely ban the electronic currency
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purchase method
< EM > < / EM > users can buy bitcoin, and at the same time, they can use computers to "mine" bitcoin according to the algorithm. When users "mine" bitcoin, they need to use the computer to search for 64 bit numbers, and then compete with other gold miners by repeatedly solving puzzles to provide the required numbers for the bitcoin network. If the user's computer successfully creates a set of numbers, then they will get 25 bitcoins
e to the decentralized programming of the bitcoin system, only 25 bitcoins can be obtained every 10 minutes, and by 2140, the maximum number of bitcoins in circulation will reach 21 million. In other words, bitcoin system is able to achieve self-sufficiency, resist inflation through coding, and prevent others from destroying these codes
transaction mode
< EM > bitcoin is e-cash similar to e-mail, and 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 will pay bitcoin directly to the other party according to the recipient's address through a computer or smart phone. The following table lists some websites that download bitcoin wallets and addresses for free
a bitcoin address is a string of about 33 characters long, consisting of letters and numbers, always starting with 1 or 3, such as & quot& quot; Bitcoin software can generate address automatically, and it does not need to exchange information online when generating address, so it can be offline [2]. More than 2 bitcoin addresses are available. Figuratively speaking, there are about two grains of sand in the world. If there is an earth in each grain of sand, then the total number of bitcoin addresses far exceeds the number of all the sand on all these "earths"
the bitcoin address and private key appear in pairs, and their relationship is just like the bank card number and password. A bitcoin address is like a bank card number, which records how much bitcoin you have on it. You can generate bitcoin address at will to store bitcoin. When each bitcoin address is generated, a corresponding private key of the address will be generated. This private key proves that you have ownership of the bitcoin at that address. We can simply understand the bitcoin address as the bank card number, and the private key of the address as the password of the corresponding bank card number. Only when you know the bank password can you use the money on the bank card number. Therefore, please keep your address and private key when using bitcoin wallet
after the transaction data of bitcoin is packaged into a "data block" or "block", the transaction is initially confirmed. When a block is linked to a previous block, the transaction is further confirmed. After six block confirmations in a row, the transaction was irreversibly confirmed. Bitcoin P2P stores all transaction history in a "blockchain.". The blockchain continues to extend, and once new blocks are added to the blockchain, they will not be removed. Blockchain is actually a distributed database composed of a group of scattered client nodes and all participants, which is a record of all bitcoin transaction history. Nakamoto predicts that when the amount of data increases, users hope that not all the data will be stored in their own nodes. In order to achieve this goal, he uses the hash function mechanism. In this way, the client will be able to automatically eliminate those parts that it will never use, such as some very early bitcoin transactions
consumption mode
many websites for technology players have begun to accept bitcoin transactions. Websites such as < EM > mtfox and btcchina, as well as some Taobao stores, can even accept services such as bitcoin exchange for us dollars and euro. There is no doubt that bitcoin has become a real currency in circulation, rather than a virtual currency like Tencent Q coin overseas has specialized bitcoin third party payment company, similar to the domestic Alipay, can provide API interface service. p>
you can use money to buy bitcoin, or you can be a miner to "mine" them, and use computers to search for 64 bit numbers. By repeatedly decrypting with a computer, it competes with other gold miners to provide the number needed for the bitcoin network. If the computer can successfully create a set of numbers, it will get 25 bitcoins. Bitcoin is decentralized. It needs to create a fixed number of bitcoins per unit of computing time. It can get 25 bitcoins every 10 minutes. By 2140, the upper limit of bitcoin in circulation will reach 21 million. In other words, bitcoin system can be self-sufficient, which can be translated into coding to resist inflation and prevent others from sabotaging
payment case
< EM > while being chased by investors, bitcoin has been accepted by indivial businesses in reality. A restaurant in Beijing started bitcoin payment the restaurant in Chaoyang Joy City said it began accepting bitcoin payments at the end of November 2013. At the end of the meal, consumers transfer a certain amount of bitcoin to the store's account to complete the payment. The whole process is similar to bank transfer. The restaurant once settled a 650 yuan meal fee with 0.13 bitcoin
in January 2014, overstock began to accept bitcoin, becoming the first large online retailer to accept bitcoin
at present, you can't directly use bitcoin to buy Tencent's things, because they don't support it. But you can exchange alt currency on okcoin, godbtc, fxbtc and other bitcoin trading platforms, and then buy TX game equipment
because there is no transaction and bitcoin has been used, we can only look up information online. Hope to help you
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