Virtual money stock
Publish: 2021-04-21 21:33:59
1.
The total number of bitcoins is 21 million
in 2009, when bitcoin was born, block reward was 50 bitcoins. Ten minutes after its birth, the first 50 bitcoins were generated, and the total amount of money at this time is 50. Then bitcoin grew at a rate of about 50 every 10 minutes. When the total amount reaches 10.5 million (50% of 21 million), the block reward will be halved to 25
when the total amount reaches 15.75 million (5.25 million new output, i.e. 50% of 1050), the block reward will be further halved to 12.5. 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 about 21 million
extended data
monetary characteristics
1. Decentralization: bitcoin is the first distributed virtual currency, and the whole network is composed of users without a 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
2. The definition and characteristics of virtual currency
the definition of traditional currency
traditional currency, that is, currency in the general sense, refers to the paper money and subsidiary currency issued by the central bank, which includes cash and deposits in circulation. Traditional currency has the functions of value scale, circulation means, payment means and storage means< (2) the definition and characteristics of virtual currency, also known as network currency, digital currency and electronic currency, is based on electronic information network, with commercial electronic machines and various transaction cards as the media, with electronic computer technology and communication technology as the means, and stored in the bank's computer system in the form of electronic data, And through the computer network system in the form of electronic information transmission to achieve circulation and payment function of money, is a new payment tool in the late 1990s
virtual currency is a currency symbol with no value of its own, and it is invisible. The exchange between the buyer and the seller is only reflected in the increase and decrease of the deposit balance in the bank account; At any time in any place that the network or device can cover, both parties can complete the transaction as long as there is exchange behavior; Virtual currency has the function of transcending time, space and region, which has greatly improved the speed and efficiency of money media transactions, greatly reced transaction costs, and promoted the process of globalization of capital flow and financial market integration. Virtual currency is a kind of non-standard currency, which has no geographical currency unit
the difference and connection between virtual currency and traditional currency
virtual currency combines cash in circulation with deposit organically by using electronic system. It has the characteristics of deposit in traditional currency, cash and non cash conversion and information display. In the scope of use, it is the same as the traditional currency, mainly used for small transactions; In commodity transaction payment, it also has the characteristics of autonomy of transaction behavior, consistency of transaction conditions, independence of transaction mode and sustainability of transaction process.
the definition of traditional currency
traditional currency, that is, currency in the general sense, refers to the paper money and subsidiary currency issued by the central bank, which includes cash and deposits in circulation. Traditional currency has the functions of value scale, circulation means, payment means and storage means< (2) the definition and characteristics of virtual currency, also known as network currency, digital currency and electronic currency, is based on electronic information network, with commercial electronic machines and various transaction cards as the media, with electronic computer technology and communication technology as the means, and stored in the bank's computer system in the form of electronic data, And through the computer network system in the form of electronic information transmission to achieve circulation and payment function of money, is a new payment tool in the late 1990s
virtual currency is a currency symbol with no value of its own, and it is invisible. The exchange between the buyer and the seller is only reflected in the increase and decrease of the deposit balance in the bank account; At any time in any place that the network or device can cover, both parties can complete the transaction as long as there is exchange behavior; Virtual currency has the function of transcending time, space and region, which has greatly improved the speed and efficiency of money media transactions, greatly reced transaction costs, and promoted the process of globalization of capital flow and financial market integration. Virtual currency is a kind of non-standard currency, which has no geographical currency unit
the difference and connection between virtual currency and traditional currency
virtual currency combines cash in circulation with deposit organically by using electronic system. It has the characteristics of deposit in traditional currency, cash and non cash conversion and information display. In the scope of use, it is the same as the traditional currency, mainly used for small transactions; In commodity transaction payment, it also has the characteristics of autonomy of transaction behavior, consistency of transaction conditions, independence of transaction mode and sustainability of transaction process.
3. Yes, when it was released, it showed that its constant number was 21 million. With the passage of time and the efforts of the miners, the number left on the market is less than 2.5 million.
4. Money stock refers to the cash held by government agencies, enterprises and the public outside a country's banking system at a certain time
in real economic life, people often extend the scope of money to some short-term securities with strong liquidity, such as treasury bills, commercial bills, etc., because they can be easily converted into cash or demand deposits and become real purchasing and payment tools. The money supply caliber adopted by IMF is money and quasi money. Among them, currency includes currency outside banks and demand deposits of private sector, and quasi currency includes the sum of time deposits, savings deposits and foreign currency deposits
the so-called money stock, namely money supply, is the total amount of money used for trading and investment in a country's economy. Statistically, it forms part of the liabilities of central banks and financial institutions. The statistical data of China's money stock began in 1952, when the money stock (M2) was 10.13 billion yuan. Please remember this figure. From 52 to 57, M2 basically increased at the rate of 1.2-1.5 billion yuan per year, and the monetary growth remained at about 10%, reaching 19.77 billion yuan in 57, which is a relatively normal rate; Since 58, it has been wrong, and the monetary growth has also started a great leap forward, with an average annual growth rate of 25%, leading to the first inflation after the founding of the people's Republic of China. From 61 to 64, three years of natural disasters, deflation appeared for the first time, M2 decreased from 43.98 billion yuan in 1961 to 43.47 billion yuan in 1964, the decline was not big, but the national economy recovered after the natural disasters. From 65 to 68, the second rash advance began, with an average annual increase of 5.6 billion yuan, an annual growth rate of 14%, reaching 66.69 billion yuan in 68. From the year of 69 to the year of 70, when "adjustment, consolidation and improvement" were carried out, there was a second deflation, with an annual monetary decrease of only 700 million yuan
the third mild inflation started from 70 to 79, with an average annual new currency of more than 9 billion yuan, with a growth rate of about 15%, a growth rate of less than 10 billion yuan, and a growth rate of less than 20%. 1952 to 1979 can be called "high growth and low inflation" economic development period< Since the reform and opening-up in 1981-83, the growth of new money has reached a new level, with an average annual increase of more than 40 billion yuan, and the growth rate of money is 22%, which is still normal; From 84 to 89, the money increased by 150 billion yuan annually. In 1989, the money stock reached 120 billion yuan. The fourth inflation can be called Benz's inflation
from 1990 to 1993, the growth of money was still controlled within hundreds of billions of yuan every year, not more than one trillion yuan: compared with 1989, 525.3 billion yuan was added in 1990, 410 billion yuan was added in 1991, 610 billion yuan was added in 1992, and 940 billion yuan was added in 1993, with a growth rate of 39% on a month on month basis! In 1993, the money stock reached 3487.9 billion yuan
since 1994, the amount of money increased by more than one trillion yuan: an increase of 1210 billion yuan in 1994 compared with that in 1993, with a month on month growth rate of 34.6%; In 1995, it increased by 1400 billion yuan compared with that in 1994, 16000 billion yuan compared with that in 1996, 15000 billion yuan compared with that in 1996, 1350 billion yuan compared with that in 1998, 1540 billion yuan compared with that in 1998, 1560 billion yuan compared with that in 1999, 1820 billion yuan compared with that in 2000, and the money stock reached 15288 billion yuan. The average annual growth is 1510 billion yuan, with an average growth rate of about 39%, which can be called the fifth inflation period
in 2002, the growth of money began to exceed three trillion yuan: 3100 billion yuan in 2002, 3600 billion yuan in 2003, 3400 billion yuan in 2004, and 25320.7 billion yuan in money stock. The amount of growth has increased, while the monetary growth rate has decreased in the same period: the average annual growth rate is 33.3%. This stage can be called "the sixth relatively stable inflation period"
China's real money supply is much higher than the theoretical money supply. As we all know, since the reform and opening up, the average growth rate of our economy has been 10%, while the average growth rate of money stock has been 31.5%, even more than 40% in indivial years! In other words, since China's reform and opening up, the rate of currency depreciation is more than 20%! A history of new China's economic development is actually a hidden history of inflation. Why is it hidden? This is because under the centralized planned economy system, e to the existence of strict price control, the true degree of the rising trend of prices has been concealed. After the transformation of the economic system, this influence still exists. Since inflation is so severe, why has it not caused financial collapse and economic chaos? First, the base of money stock itself was too low when the people's Republic of China was founded. Except for two deflation, the amount of money increased every year before the 1980s could not meet the actual monetary needs, so it maintained low circulation and low prices for a long time; Second, the sustained and rapid economic growth period also needs the support of a large number of circulating currency, and the imperfection of China's credit system makes the demand for cash larger; Third, we have benefited from a strong centralized administrative system and long-term planned economy. The stability of politics and polity has effectively ensured the stability of economy and finance.
in real economic life, people often extend the scope of money to some short-term securities with strong liquidity, such as treasury bills, commercial bills, etc., because they can be easily converted into cash or demand deposits and become real purchasing and payment tools. The money supply caliber adopted by IMF is money and quasi money. Among them, currency includes currency outside banks and demand deposits of private sector, and quasi currency includes the sum of time deposits, savings deposits and foreign currency deposits
the so-called money stock, namely money supply, is the total amount of money used for trading and investment in a country's economy. Statistically, it forms part of the liabilities of central banks and financial institutions. The statistical data of China's money stock began in 1952, when the money stock (M2) was 10.13 billion yuan. Please remember this figure. From 52 to 57, M2 basically increased at the rate of 1.2-1.5 billion yuan per year, and the monetary growth remained at about 10%, reaching 19.77 billion yuan in 57, which is a relatively normal rate; Since 58, it has been wrong, and the monetary growth has also started a great leap forward, with an average annual growth rate of 25%, leading to the first inflation after the founding of the people's Republic of China. From 61 to 64, three years of natural disasters, deflation appeared for the first time, M2 decreased from 43.98 billion yuan in 1961 to 43.47 billion yuan in 1964, the decline was not big, but the national economy recovered after the natural disasters. From 65 to 68, the second rash advance began, with an average annual increase of 5.6 billion yuan, an annual growth rate of 14%, reaching 66.69 billion yuan in 68. From the year of 69 to the year of 70, when "adjustment, consolidation and improvement" were carried out, there was a second deflation, with an annual monetary decrease of only 700 million yuan
the third mild inflation started from 70 to 79, with an average annual new currency of more than 9 billion yuan, with a growth rate of about 15%, a growth rate of less than 10 billion yuan, and a growth rate of less than 20%. 1952 to 1979 can be called "high growth and low inflation" economic development period< Since the reform and opening-up in 1981-83, the growth of new money has reached a new level, with an average annual increase of more than 40 billion yuan, and the growth rate of money is 22%, which is still normal; From 84 to 89, the money increased by 150 billion yuan annually. In 1989, the money stock reached 120 billion yuan. The fourth inflation can be called Benz's inflation
from 1990 to 1993, the growth of money was still controlled within hundreds of billions of yuan every year, not more than one trillion yuan: compared with 1989, 525.3 billion yuan was added in 1990, 410 billion yuan was added in 1991, 610 billion yuan was added in 1992, and 940 billion yuan was added in 1993, with a growth rate of 39% on a month on month basis! In 1993, the money stock reached 3487.9 billion yuan
since 1994, the amount of money increased by more than one trillion yuan: an increase of 1210 billion yuan in 1994 compared with that in 1993, with a month on month growth rate of 34.6%; In 1995, it increased by 1400 billion yuan compared with that in 1994, 16000 billion yuan compared with that in 1996, 15000 billion yuan compared with that in 1996, 1350 billion yuan compared with that in 1998, 1540 billion yuan compared with that in 1998, 1560 billion yuan compared with that in 1999, 1820 billion yuan compared with that in 2000, and the money stock reached 15288 billion yuan. The average annual growth is 1510 billion yuan, with an average growth rate of about 39%, which can be called the fifth inflation period
in 2002, the growth of money began to exceed three trillion yuan: 3100 billion yuan in 2002, 3600 billion yuan in 2003, 3400 billion yuan in 2004, and 25320.7 billion yuan in money stock. The amount of growth has increased, while the monetary growth rate has decreased in the same period: the average annual growth rate is 33.3%. This stage can be called "the sixth relatively stable inflation period"
China's real money supply is much higher than the theoretical money supply. As we all know, since the reform and opening up, the average growth rate of our economy has been 10%, while the average growth rate of money stock has been 31.5%, even more than 40% in indivial years! In other words, since China's reform and opening up, the rate of currency depreciation is more than 20%! A history of new China's economic development is actually a hidden history of inflation. Why is it hidden? This is because under the centralized planned economy system, e to the existence of strict price control, the true degree of the rising trend of prices has been concealed. After the transformation of the economic system, this influence still exists. Since inflation is so severe, why has it not caused financial collapse and economic chaos? First, the base of money stock itself was too low when the people's Republic of China was founded. Except for two deflation, the amount of money increased every year before the 1980s could not meet the actual monetary needs, so it maintained low circulation and low prices for a long time; Second, the sustained and rapid economic growth period also needs the support of a large number of circulating currency, and the imperfection of China's credit system makes the demand for cash larger; Third, we have benefited from a strong centralized administrative system and long-term planned economy. The stability of politics and polity has effectively ensured the stability of economy and finance.
5. I haven't touched Macroeconomics for a long time, but I remember vaguely:
full employment is the equilibrium state under the classical economic model. According to the "dichotomy" of classical economics, the nominal value of money has no effect on the real value. At this time, the national income (output) is in a natural state, and the aggregate supply curve is vertical, that is, the national income has nothing to do with the price (nominal level of money)
proction capacity is surplus, and the unemployment rate has exceeded the natural unemployment rate. At this point, increasing the nominal money stock will stimulate aggregate demand (like the monetary policy used to stimulate economic expansion), these labor beyond the natural level will be absorbed (for example, factories will employ more workers), and output will increase.
full employment is the equilibrium state under the classical economic model. According to the "dichotomy" of classical economics, the nominal value of money has no effect on the real value. At this time, the national income (output) is in a natural state, and the aggregate supply curve is vertical, that is, the national income has nothing to do with the price (nominal level of money)
proction capacity is surplus, and the unemployment rate has exceeded the natural unemployment rate. At this point, increasing the nominal money stock will stimulate aggregate demand (like the monetary policy used to stimulate economic expansion), these labor beyond the natural level will be absorbed (for example, factories will employ more workers), and output will increase.
6. It's not the same concept. The total amount of money supply is equal to the total amount of demand, and the money stock is only a part of the total amount of money supply.
7. Money supply (also known as money stock) refers to the amount of cash and deposit money existing in indivials, enterprises, financial institutions, government and other departments of a country at a certain point in time. In real economic life, people often extend the scope of money to some short-term securities with strong liquidity, such as treasury bills, commercial bills, etc., because they can be easily converted into cash or demand deposits and become real purchasing and payment tools. The money supply caliber adopted by IMF is money and quasi money. Among them, currency includes currency outside banks and demand deposits of private sector, and quasi currency includes the sum of time deposits, savings deposits and foreign currency deposits.
8. Stock refers to the accumulated amount of money that has been issued; The balance refers to the outstanding balance left behind.
9. 1. Money stock is money supply. We often say that money stock refers to m2, because M2 includes M1, and M1 reflects the real purchasing power of the economy, while M2 reflects not only the real purchasing power, but also the potential purchasing power. Therefore, we usually compare M2 with GDP. Although it is not very scientific, it can roughly reflect the situation of excessive currency
2. According to the latest statistics (as of November this year), the total amount of broad money is 71030 billion, and the 70 trillion you said is just a divisor for the convenience of reading and writing. It can be imagined that the 10 trillion US dollars you mentioned above is also a divisor, not an absolute one. I hope you don't put too much emphasis on the fact that these two figures are not equal. If you need to, you can divide 71030 billion by today's exchange rate of 66597, which is roughly equal to 10665.6 billion US dollars. It is more convenient to call it 10 trillion US dollars.
2. According to the latest statistics (as of November this year), the total amount of broad money is 71030 billion, and the 70 trillion you said is just a divisor for the convenience of reading and writing. It can be imagined that the 10 trillion US dollars you mentioned above is also a divisor, not an absolute one. I hope you don't put too much emphasis on the fact that these two figures are not equal. If you need to, you can divide 71030 billion by today's exchange rate of 66597, which is roughly equal to 10665.6 billion US dollars. It is more convenient to call it 10 trillion US dollars.
10. Financial institutions
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