Virtual currency lowest

1. bitcoin is based on Cong, and one bitcoin is 100 million Cong. At present, the minimum price of okex exchange is 10 yuan. If you buy 200-1000 yuan, the platform will send 20 yuan bitcoin. Thank you. If you have any questions, you can ask me at any time

3. This is not necessarily, the lowest point of virtual currency can not be determined. There is no way to know when it will rise. If it keeps falling, it may die and never recover. The price of this kind of currency will soar all the way
with the rapid rise of bitcoin, Leyte and other digital currencies, Ruitai currency has been stagnating. Is it ready to go, or is it just in a moment.

4. It's hard to say. The worst result is zero

there are many unsuccessful currencies in history, such as the Deutschmark in the Weimar Republic and, more recently, the Zimbabwean dollar. Although previous currency failures were usually e to over inflation that could not happen on bitcoin, there were always potential technical errors, currency competition and political problems. The basic lesson is that no currency can be considered absolutely safe from failure or difficult times. Bitcoin has been proven reliable for several years since its birth, and it has great potential to continue to grow. But no one can predict the future of bitcoin< The rapid rise in price of BR />
does not constitute a bubble. Artificial overestimation will lead to a sudden downward revision, which will form a bubble. The price fluctuation of bitcoin caused by the indivial behavior of thousands of market participants is the result of the market determining the price. From the emotional point of view, the reasons for price changes include: the loss of confidence in bitcoin, the huge difference between price and value not based on the fundamentals of bitcoin economy, more and more news reports stimulating speculative demand, fear of uncertainty, and outdated irrational prosperity and greed.

5. According to our development experience and customer feedback, there is no definite number, but there are two or three peaks and troughs in a year

6. The minimum buying threshold of bitcoin is different among different trading platforms

7. Bitcoin is very popular recently. Whether it's a proct or not, it runs on a peer-to-peer network, is completely decentralized, has no patents, and is open source. Currently, there are nearly 11 million bitcoins, and the maximum number of bitcoins determined by the design program will be 21 million. For more details on how they work, see the money ness of bitcoins by economist Nikolay gertchev, published recently in the Mises daily

problem

when bitcoin is designed not to be a nominal hyperinflation, they can be a real hyperinflation. At present, many counterfeit coins have been designed, such as litecoin, namecoin and freicoin which will be issued soon. This view is particularly reasonable. Because bitcoin is a starfish, for example, it is completely decentralized. Ori Brafman and rod a. Beckstrom once said“ Starfish have no head at all. Even the center of its body is not the core. In fact, its main organs are copied from each arm. If you cut the starfish in half, you'll be surprised: this animal won't die, and you'll soon have two starfish to deal with. "

after the disappearance of Napster, Skype's inventor Niklas zennstr & # 246; M launched his invention, Kazaa, which has no central server to shut down. Eventually, such peer-to-peer programs sprang up, such as Kazaa Lite, eDonkey, eMule, and BitTorrent. While this would be good news for those who like to download and share things for free, it's certainly not good news for those who think bitcoin will avoid inflation. Those who compare bitcoin to language ignore the fact that most people have no motivation to suddenly create a new language. On the other hand, there are many stories in history about people looking for the magic stone that can magically make gold. There may be no doubt that bitcoin has an inherent mechanism to trigger the gold rush. This mechanism has already appeared in litecoin, and will certainly appear in the follow-up Shanzhai coin

money

is bitcoin in line with Austrian economists' views on money? The only way to find out is to read what the great Austrian scholars said. Let's start with Carl Menger. In the principles of economics, Menger expounded a point of view: money as a general medium of transaction has always tended to become the best-selling commodity in history

what is bestseller? It's not just about value. One may have a Picasso painting in one's home that will sell for a lot of money at Sotheby's auction ring the economic boom. But a Picasso painting, like a Friedrich Shiller poem, a Sanskrit book, or a bottle of red wine that has been stored for decades, will never be the best seller. As Menger points out, bestseller is "the function that makes (a commodity) be sold in the market at any convenient time and at the existing purchase price after it has shrunk or shrunk. Compare the number of people who might buy bread and meat with the number of people who might buy astronomical instruments. "

Menger goes on to point out that cattle were the best-selling commodity in ancient times. This is very easy to understand in a world where most people are barely fed and fed and where the structure of proction basically does not exist. However, with the development of society, cattle are becoming less and less popular

with the progress of civilization, Menger states that "... Due to the improvement of the material environment of economic development, the national currency with copper as currency continues to develop from relatively less precious metal to relatively precious metal, from copper and iron to silver and gold, which also brings the further progress of civilization, especially the expansion of the scope of commercial geography."

there are many reasons for gold to win, such as rability, good mercerization, good ctility, easy segmentation, uniform texture and scarcity. But the fundamental reason is that gold is the best-selling commodity. Menger went on to write: "if you know where the right market is, the gold nuggets that a dirty Transylvanian Gypsy panned out of the sand of the aranyos River are equally popular in the hands of both the gypsy and the owner of the gold mine. Nuggets can be sold countless times without any rection in their popularity. But for the clothes, bedding, cooked food and other things in the hands of this Gypsy, even if he has not used them and from the beginning he only obtained them for exchange, they will either be repugnant and few people buy them, or the price will be greatly reced. "

this brings us another criticism of bitcoin. It will never be the best seller. The reason is simple. Digital money won't work until most of the 7 billion people on the planet have smartphones or surf the Internet regularly

on the other hand, gold is easy to identify, as opposed to silver, which may be mistaken for other metals such as nickel. In addition, it not only has a relatively low melting point, but also is relatively soft. This makes it excellent in mercury homogenization and explains in part why it has historically outperformed other metals such as platinum. If anyone doubts the status of gold in today's monetary system, he just needs to walk on the streets of big cities to see the sign of "we buy gold". Moreover, central banks hold gold and a lot of it. They don't hold cattle, wheat, soybeans, copper, silver or bitcoin

Menger also wrote: "I am now ready to admit that under the highly developed terms of trade, money is only regarded as a symbol by many economic actors. However, it is quite certain that if coins lose the characteristics of bulk instrial raw materials, this illusion will disappear immediately "

although it is very likely that some early bitcoin users valued bitcoin because of what Menger described as virtual value, the view of the best-selling commodity is worth reviewing. Gold is and has been regarded as beautiful since the beginning of civilization. Therefore, the argument that a few people consume bitcoin like Picasso's painting and come to the conclusion that bitcoin conforms to the regression theorem is like saying that because John law or Ben bernarde really enjoys being a monopolist, banknotes are valuable. In fact, given the amount of time and effort spent searching for the Sorcerer's stone, we might as well say alchemy. Maybe some people enjoy their work purely for the pleasure of the work itself. However, this can not be an effective proof of slavery or labor theory of value<

anonymity

with the fading of common views on bitcoin's fight against hyperinflation and no longer convincing, the new reasons for holding bitcoin are its anonymity and the freedom it provides. Want to gamble or buy something illegal online? Bitcoin is the solution. It is said to be a way to avoid regulatory authorities and promote free and voluntary trade growth. There are many similar statements. Unfortunately, for many people who are misled, the reality is cruel. Best listen to the opinions of bitcoin developer Jeff garzik himself http://www.youtube.com/watch?v=zhj1zeisqWY The interesting part starts at 3:20

the irony is that every transaction of anyone who uses bitcoin to engage in illegal activities, presumably because he thinks bitcoin is anonymous, is permanently kept in the public ledger. People who are smart enough to use extensions like tor are just as stupid as people who think prepaid cards or smartphones are anonymous. Imagine if bitcoin had existed 50 years ago. It is possible that none of the latest three presidents, including Obama, will run

bubble time?

the remaining question waiting to answer is whether bitcoin is appearing again in the form of bubbles. The answer is yes. Now there's a reflexive model: people buy because prices go up; Because people buy, so the price goes up. This shortsightedness is driving the price trend of the past four months. Because people think it's normal, they continue to push prices up, attracting more idiots. When the continuity of optimism is broken, the turning point will appear. One thing is for sure. Those left behind who are willing to jump on the accelerating train and the amount of their money will be reced

when the asset price becomes parabolic, it will cause technical damage to the price trend. It's like sprinting at full speed in the middle of a marathon. Of course, this person will have a few minutes to look great. However, it will inevitably stop, and the hope of completing the game will become dim, not to mention the possibility that his performance will be as good as that of other strategies

the price of gold became parabolic in the second half of 2011, reaching $1900 an ounce. This has done a lot of damage to its price trend: gold is now just beginning to depreciate. Just like Icarus in Greek mythology whose wings made of Wax Melt e to flying too high, parabolic movement always ends with adjustment. If the parabolic movement is too long, it will eventually collapse. Ironically, the best thing that can happen to the negatives of bitcoin is that bitcoin soars to $300 a piece in a week

it is not against Austrian economics to admit that there are many naive, irrational and misguided participants in the market. For example, ring the dot com bubble, the price of a repair and construction company called Temco Services almost doubled to three times in the middle of 1998. The reason is that before 1998, many laymen came to the market. As a result, the level of competition has declined significantly. TEMCo's stock code is tmco. This is very similar to the stock code TMCs of Ticketmaster online at that time. Ticketmaster online (TMCs) was trading for the first time on the day when the share price of TEMCo services (tmco) tripled. The rising asset prices proce cheerful mental state, which significantly reces the IQ of participants

the reason why another bitcoin is so vulnerable to bubble behavior is that people think it is new. New era thinking always attracts a lot of attention. Tulip was introced to Europe via Turkey in the middle of the 16th century (in fact, the word tulip comes from Tulipan in Turkish). It means headscarf. Tulips were a novelty to Amsterdam, a kingdom rich in newly discovered gold and silver from the new world. Similarly, the Mississippi bubble designed by John Law promises that people will have huge wealth from the new world. The rail, radio and Internet craze, and most of the craze you can think of, is about something new or something that people think is new

there is no doubt that bitcoin is a spontaneous answer to the currency instability we see around us today. On one side of the Atlantic, people are worried about the eye-catching euro currency peg policy, while on the other side, the huge damage caused by Ben Bernanke has made the world's reserves worse

8. The lowest currency in the world
in recent years, Guinness world has continuously tracked and compared the currencies of various countries in the world. The Turkish currency lira is the lowest in the world and deserves to be rated as "the least valuable currency"< The low value of the Turkish lira is astonishing. The largest denomination of Turkish banknotes is 20 million lire, and the smallest denomination is 250000 lire. Coins of less than 100000 denominations. The face value of Turkish currency is so large that it is very troublesome to calculate and use. For example, the last time the toilet was charged, it would cost 250000 lire, 1 million lire for a kilogram of tomatoes, 199 million lire for a good suit, and the next time a family would spend hundreds of millions or more lire for a restaurant. Millions and tens of millions of these figures are astronomical figures for ordinary Chinese people. However, tens of billions and hundreds of billions of such astronomical figures have become a part of Turks' daily life

our common calculators are not available in Turkey at all. There was a cartoon entitled "millionaire" in an influential newspaper in Turkey: a topless man in a pair of shorts reclines on a bed covered with a large patched sheet, holding a 1 million lira bill< In fact, the Turkish Lira was not astronomical in the first place. At the beginning of the issuance of lira in 1920, the value of 1 Turkish Lira even exceeded 1 US dollar. Even in the early 1980s, the exchange rate between lira and US dollar was still 100:1. At that time, 5 million lira could buy a luxury house, but now lira of the same denomination can only buy 1 jin of beef and mutton. In Turkey, hundreds of thousands of lira can be exchanged for a dollar in the morning, and more than one million lira can be exchanged for a dollar in the afternoon. Stores prefer to trade in foreign currency rather than lira. Civil servants will immediately exchange for foreign currency after receiving salary every month, and some people will consume it quickly after receiving salary, thus playing the role of "preserving value"

the low value of the Turkish lira is mainly e to the financial turmoil in Turkey in early 2001. It is reported that the fuse leading to the financial crisis in Turkey was the sudden exposure of the discord between the prime minister and the president at the beginning of the year and the conflict between the two political giants

at the beginning of this century, when the Turkish government was investigating the corruption of several domestic banks, then Prime Minister erjevit and President seizer went their own ways and did not communicate with each other. According to local media, President seizer began what he called an "independent investigation" into corruption in the banking system; At the same time, Prime Minister ejevit, who is also concting an investigation, accused that the president's practice seriously affected and interfered with his ongoing investigation. In response to the accusations from the government, seizer immediately retorted. He accused the government of trying to cover up the corruption of the banking system, and the government was responsible for it. The two sides were at each other's throats, and finally they were exposed when the contradiction became too intense to be reconciled. In a joint meeting, because of no speculation, Prime Minister edgevitt left halfway, led the cabinet members back to the government office building angrily, and disclosed all this to the media. Once the incident was exposed, it immediately had a huge shock wave on the financial market, and the inflation rate rose sharply. Turkish currency lira plummeted. Overnight, the value of lira fell by about 21%

another important reason for the devaluation of the lira is the untimely announcement by the Turkish government to allow its currency lira to float freely. On February 22, 2001, on the day of free floating of lira, the exchange rate of lira against US dollar plummeted by more than 36%, reaching 1072000 lira against US dollar. There was a run in Ankara, the capital, and Istanbul, the largest city. People lined up outside banks and foreign exchange offices to exchange US dollars. Turkey's National Central Bank says its foreign exchange reserves alone have fallen by more than $7 billion in a day.