Is bitcoin the world's legal digital currency

1.

1. The concept range is different. bitcoin is a kind of digital currency, and the concept of digital currency covers bitcoin

However, some digital currencies have independent issuers

The biggest difference between bitcoin and other virtual currencies is that the total quantity 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

digital currency is abbreviated as digiccy, which is the abbreviation of "digital currency" in English. It is an alternative currency in the form of electronic currency. Both digital gold coin and cryptocurrency belong to digiccy. Bitcoin is a digital currency

digital currency is different from the virtual currency in the virtual world, because it can be used for real goods and services transactions, not limited to online games. The early digital currency (digital gold currency) is a form of electronic currency named after the weight of gold

today's digital currencies, such as bitcoin, lettercoin and ppcoin, are electronic currencies created, issued and circulated by means of check sum cryptography. It is characterized by the use of P2P peer-to-peer network technology to issue, manage and circulate currency. In theory, it avoids bureaucratic examination and approval, so that everyone has the right to issue currency

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illegal digital currency

in recent years, "virtual currency" represented by bitcoin, Ethernet currency and Leyte currency has been traded centrally on some Internet platforms. With the help of financial technology, the price of these "currencies" has graally spread to investment, financing and other financial fields, which has aroused wide attention from all walks of life

not long ago, the people's Bank of China and other seven ministries and commissions jointly issued the announcement on preventing the financing risk of token issuance, which clearly regulated the relevant behaviors. Experts pointed out that "virtual currency" is not legal tender (legal currency) issued by monetary authorities, but a specific virtual commodity in essence

therefore, it is undoubtedly a great legal and economic risk to think that "virtual currency" has or will have the nature of legal tender and to carry out speculation, network fund-raising, lending and financing

2.

According to analysts at Goldman Sachs, bitcoin can become a legal and widespread form of currency, but it is mainly possible in theory

Analysts believe that the reality is that cryptocurrency still has a very high threshold in most places. First, the government cannot track who is buying or selling bitcoin. And as we all know, the price of cryptocurrency is very vulnerable to large fluctuations. This volatility is very rare in legal tender, so bitcoin is not suitable to be a reserve currency

3.

Bitcoin is a kind of P2P digital currency

reasons for blocking:

1. Vulnerability 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

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

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 tell the difference 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

extended materials:

the concept of bitcoin was first proposed by Nakamoto in 2009. According to Nakamoto's idea, the open source software was designed and released, and the P2P network on it was constructed. 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 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. 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

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

4.

Bitcoin is a fixed amount of digital currency issued without the participation of the central bank. Bitcoin is built on the global P2P network, and countless P2P nodes all over the world are maintaining bitcoin's network 24 hours a day

bitcoin will become the world currency

the reasons are as follows:

1. Germany has recognized bitcoin as currency

2. the U.S. Court has also recognized bitcoin as currency

3. the answer on the first floor obviously does not understand the essence of currency. Today's currency is credit currency (what is credit currency? You can network), and credit currency is supported by credit, not gold. The gold standard collapsed after Bretton Woods. At present, the mainstream world currency is not backed by gold

5. bitcoin is a kind of credit currency, which is based on people's trust in bitcoin algorithm. The credit of real bitcoin is based on the P2P system mechanism of bitcoin

6. from shells used in ancient times to gold and silver, to paper money used now, to digital currency (the money on the bank card can be understood as digital currency), and then to bitcoin. This is clearly the evolution of money

   to sum up, bitcoin is the future currency and the future world currency

   Thank you

   
   

5. The significance of bitcoin mining: distribute the initial bitcoin
opponents of bitcoin accuse mining of wasting a lot of resources to make meaningless coin toss, while supporters take gold mining as an example. For the bitcoin system, the biggest significance of this kind of resource consumption mining is: to distribute 21 million initial bitcoins fairly, just like to consume resources to dig gold, the only way to distribute initial bitcoins fairly is to consume resources to dig bitcoins

bitcoin has thousands of plagiarists, competitors and improvers because of its open source code. Generally, those who simply and imitate bitcoin are called Shanzhai coins, and those who add certain new features to bitcoin are called competitive coins. Some coins add other functional moles such as smart contract to bitcoin, and call themselves "second generation coins". These thousands of coins try all the initial coin distribution modes you can imagine, such as the average distribution of the initial coin to each Icelandic, the distribution of the initial coin to the nextcoin of 73 crowd funding participants, and the slow distribution of the majority of the initial coin by the developer

but the fairness of all these ways of distributing initial coins is far weaker than the mode of burning money to obtain initial bitcoin, and fairness is the core problem of a monetary system. Therefore, although bitcoin mining consumes a lot of resources, it is a reasonable economic behavior just like consuming resources to mine gold.

6.

Many people think that bitcoin is the first digital cryptocurrency in the world, but it is not

In 1982, cryptographer and computer scientist David Chaum proposed a creative scheme blind signature: on a piece of paper, I choose a serial number that only you know, and then I sign it. Because I don't know the serial number, I can't it to another person. This idea forms the first real e-money scheme, which makes anonymous transaction possible

at present, China is experimenting with digital currency, which is legal currency with national credit as guarantee, just like paper money. In the environment of legal digital currency, it will be possible for the economic system to decide the money supply spontaneously and endogenously, issue and recover money automatically through preset and reliable program algorithm rules and on the premise of ensuring the stability of currency value. The role of the central bank may not only be the decision maker of money circulation, but also the designer of the rules of money circulation algorithm

in fact, digital currency is just a form of electronic payment to replace traditional paper money, and the specific application scenario is mobile wallet payment. Digital money is not a virtual currency that can be generated by underground mining and easy to form investment bubbles. Investment in bitcoin and other virtual currencies and electronic money is a Ponzi scheme in a strict sense. The ordinary people need to be careful to avoid leeks. p>

7. Yes, bitcoin is also a digital currency, but bitcoin may have no value in the future

8. What else can it be without digital currency? Want to be in the coin circle? Learn mining from me! Take you