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The research process of virtual currency in China

Publish: 2021-04-22 19:41:54
1. On November 1, 2008, a self styled Satoshi Nakamoto posted a research report on a secret cryptography discussion group. The report expounded his new idea of electronic currency bitcoin came out
on January 3, 2009, Nakamoto g up the first batch of 50 bitcoins on a small server in Helsinki, Finland
on May 21, 2010, the first bitcoin transaction: Laszlo hanyecz, a Florida programmer, bought a $25 pizza coupon with 10000 BTC
on July 16, 2010, the price of BTC rose by US $0.08 from US $0.008. The first sharp price fluctuation shows the rise of new things
on July 17, 2010, the first bitcoin platform was established
on November 6, 2010, the price on mtgox reached $0.5, and the bitcoin economy reached $1 million
on December 7, 2010, the first portable device to portable device transaction was realized on Nokia 900, with a transaction volume of 0.42btc
on February 9, 2011, the price reached US $1 for the first time, which is equivalent to US $1. The news that BTC is equivalent to us dollar has been widely reported by the media, which has aroused people's great attention, and the number of new users has increased greatly. In the next two months, bitcoin and pound sterling, Brazilian currency, Polish currency exchange trading platform has opened
on March 18, 2011, the BTC / USD exchange rate hit a seven week low, falling to US $0.7
on August 20, 2011, the first bitcoin conference and World Expo were held in New York. Among Google trend counties, bitcoin's attention reached a new high, with a price of $11 at that time
on November 14, 2011, the price of bitcoin hit a new half year low of $1.99
on September 15, 2012, the bitcoin conference was held in London. At this time, the price of bitcoin was $11.8
on September 27, 2012, bitcoin fund was founded, and the price of bitcoin was $12.46
on November 25, 2012, the first bitcoin conference in Europe was held in Prague, Czech Republic. At this time, the price of bitcoin was $12.6
on February 19, 2013, bitcoin client v8.0 was released. At this time, the price of bitcoin was $28.66
on April 10, 2013, BTC set a record high price of $110
on May 9, 2013, BTC Chinese, the largest bitcoin reporting website www.sosobtc.com The company obtained the investment fund Union Square's US $5 million round a investment, and the price of bitcoin was US $112.09 at this time< On May 28, 2013, the Department of Homeland Security banned the virtual currency service of Liberty Reserve, a Costa Rican exchange company, for its suspected xiqian and unlicensed fund transfer business, U.S. prosecutors said that this will become the largest international xiqian lawsuit in history, with the scale of absorbing money reaching 6 billion US dollars. A large number of users, including China, will lose all their money. At this time, the price of bitcoin is 128 US dollars
in June 2013, Netcom said that the United States will withdraw from qe3, deflationary bitcoin and quantitative easing monetary policy, which are the relationship between the two
on June 27, 2013, the German Conference made a decision: holding bitcoin for more than one year will be tax-free, which is considered by the instry to recognize the legal status of bitcoin. At this time, the price of bitcoin is $102.24
on June 28, 2013, mtgox obtained the monetary service license issued by the financial crime enforcement network office of the U.S. Department of the Treasury. Transaction standardization may mean that bitcoin is on the right track, government risk is reced, and its pace of integration into the display economy will be accelerated. At the same time, it will play an exemplary role in other virtual currencies. At this time, the price of bitcoin is $97.99
on November 28, 2013, the bitcoin trading price of Mt. GOx, a popular bitcoin exchange, broke through $1000, reaching a record high of $1073
on November 29, 2013, the trading price of bitcoin on Mt. GOx, a popular exchange, hit a record high of US $1242, while the price of gold was US $1241.98 an ounce, surpassing that of gold for the first time.
2.

There are four stages of currency experience:

1, accidental barter

accidental barter refers to the human's initial commodity exchange at the end of the primitive society. It occurs under the extremely accidental situation that both sides of the tribe have surplus procts. At this time, commodity exchange has great contingency, so it is called accidental barter

With the development of proctivity and social division of labor, the frequency of barter has increased, and the types of commodities participating in the exchange have also increased. At this time, commodity exchange is the expanded barter

When the scope of the transaction is expanded and the variety is increased, the exchange of things is very difficult. Even if it can be established, it will cost too much manpower, material resources and time. The low exchange efficiency has seriously hindered the development of commodity proction

Therefore, the general equivalent is a special commodity separated from the commodity world as a unified expression of the value of all other commodities. This is the proct of the development of commodity proction and exchange to a certain stage

The general equivalent is fixed on gold and silver.

the commodity used as the general equivalent is different in different regions and periods, which is not concive to the development of commodity economy objectively. Because gold and silver are rare and easy to be separated and stored, they are graally fixed as general equivalents, and money comes into being

extended data:

money is a fixed commodity separated from commodities and serves as a general equivalent

In essence, money is a contract between the owner and the market about the right of exchange, which is essentially an agreement between the owners. I give what I have to the market in exchange for what I need. Money is the agreement in this process, which reflects the economic cooperation between indivials and society

the nature of money contract determines that money can have different forms, such as general equivalent, precious metal money, paper money, electronic money and so on. It can be used as a medium of transaction, storage value, deferred payment standard and accounting unit

According to issuers, money can be divided into public money (fiat money), private money and regional money (community money). Generally speaking, public money is issued by the government. When it exists, it is generally dominant. Private money and regional currency are issued by non-governmental organizations

According to the classification of materials, people used different goods as money in different historical periods. It can be divided into shell, bead, stick, metal currency (see commodity currency), paper currency and digital currency. In terms of nature, it can be divided into real money and virtual money

reference: network currency

3.

When the global financial crisis broke out in 2008, someone published a paper under the pseudonym of "Nakamoto Tsung", describing the mode of bitcoin

many bitcoin players are attracted by the fact that bitcoin can not be issued at will. Contrary to the attitude of bitcoin players, economists have a polarized attitude towards the fixed amount of 21 million bitcoin

Economists of Keynesian school believe that the government should actively regulate the total amount of money, and use the tightness of monetary policy to timely fuel or brake the economy. As a result, they believe that bitcoin's fixed aggregate currency sacrifices its adjustability, and worse still, it will inevitably lead to deflation, thereby harming the overall economy. Austrian economists hold the opposite view. They think that the less the government intervenes in money, the better. The deflation caused by the fixed amount of money is not a big deal, even a sign of social progress

bitcoin network generates new bitcoin through "mining". In essence, the so-called "mining" is to use computers to solve a complex mathematical problem to ensure the consistency of bitcoin network distributed accounting system. Bitcoin network will automatically adjust the difficulty of mathematical problems, so that the whole network will get a qualified answer about every 10 minutes. Then bitcoin network will generate a certain amount of bitcoin as a reward to reward the person who gets the answer

when bitcoin was born in 2009, each 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 bounty will be halved to 25. When the total amount reached 15.75 million (5.25 million new output, or 50% of 1050), the bounty was further halved to 12.5

first of all, according to its design principle, the total amount of bitcoin will continue to grow until it reaches 21 million more than 100 years later. But the total amount of bitcoin will grow very slowly in the later period. In fact, 87.5% of bitcoin will be "g up" in the first 12 years. Therefore, in terms of the total amount of money, bitcoin will not reach a fixed amount, and its total amount of money will continue to expand, although the speed is getting slower and slower. So it looks like bitcoin is the inflation currency

However, the judgment of deflation or inflation is not based on whether the total amount of money is decreasing or increasing, but on whether the overall price level is falling or rising. The rise of overall price is inflation, and vice versa. In the long run, the issuing mechanism of bitcoin determines that the growth rate of its total amount of money will be far lower than that of social wealth

Economists of Keynesian school believe that the continuous decline of prices will make people tend to postpone consumption, because the same dollar can buy more things tomorrow. The rection of consumption will further lead to shrinking demand, unsalable goods, lower prices and a vicious circle of "deflation spiral". Similarly, the deflationary currency itself can appreciate even if it is not deposited in the bank (the purchasing power becomes stronger and stronger), people's willingness to invest will increase, and social proction will fall into a downturn[ 5] Therefore, bitcoin is a currency with deflationary tendency. In bitcoin economies, commodity prices priced with bitcoin will continue to fall

bitcoin is a kind of network virtual currency with limited quantity, but it can be used to cash out: it can be converted into the currency of most countries. You can use bitcoin to buy some virtual items, such as clothes, hats, equipment, etc. in online games. As long as someone accepts it, you can also use bitcoin to buy real-life items

4. The development history of bitcoin in China is as follows:
trading platform launched on June 9, 2011
price of bitcoin in China reached 150 yuan on June 9, 2011
registered users exceeded 8000 on May 27, 2012
trading volume on May 9, 2012 exceeded 2000
trading volume on May 27, 2012 ranked second in the world
trading volume on May 29, 2012 ranked eighth in the world
double authentication function launched on August 28, 2012
February 2013 -The price of 15 bitcoin in China returned to 100 yuan
on April 10, 2013, the trading volume reached 28600 yuan
on April 10, 2013, the price of bitcoin in China reached 1944 yuan
on April 21, 2013, the United One Foundation launched a donation of bitcoin and donated 15 bitcoin to one foundation, For Sichuan disaster relief
launch mobile phone verification function on May 15, 2013
launch recharge free service charge on July 1, 2013
launch TenPay online banking automatic recharge online on September 3, 2013
implement transaction free service charge on September 24, 2013
transaction volume exceeded 50000 on October 22, 2013
bitcoin China price reached 1300 yuan on October 22, 2013
launch market price list function on October 28, 2013
CCTV on October 30, 2013 The price of bitcoin in China reached 2630 yuan on November 9, 2013, according to the report of Taiwan's two sets of "global financial link"
PayPal, the world's largest online payment platform, announced that it will cooperate with three bitcoin payment service providers to test bitcoin payment, but the payment service is only limited to virtual proct transactions, and users can only use bitcoin to buy e-books, electronic music, electronic games, electronic music, electronic games, etc And mobile phone ringtones
bitcoin is a new type of virtual currency, which is generated by a large number of calculations based on special algorithms. According to rigorous calculations, the stock of bitcoin is limited, with a total of 21 million, no more or less. After being created, bitcoin has rapidly become a "fixed asset" pursued by Internet speculators
in February 2014, mtgox, the world's largest trading platform, went bankrupt, casting a shadow on the whole bitcoin instry. Since the middle of 2014, the price of bitcoin has been in a downward trend for a long time
on August 12, 2015, the price of a bitcoin was only close to 1700 RMB
on the afternoon of February 8, 017, the inspection team of the business management department of the people's Bank of China interviewed the main principals of nine bitcoin trading platforms in Beijing, including "China bitcoin", "bitcoin trading network", "bitcoin", "yuncoin", "Yuanbao", "btc100", "jucoin", "coin shell" and "dahonghuo", which are engaged in bitcoin trading, Report the current problems of bitcoin trading platform, prompt the possible legal risk, policy risk and technical risk of the trading platform, understand the operation of the nine trading platforms, and put forward clear requirements: it is not allowed to engage in financial business such as financing currency, participate in money laundering activities, and violate the relevant national anti money laundering and anti money laundering regulations Foreign exchange management, payment and settlement and other financial laws and regulations shall not violate the state tax and instrial and commercial advertising management laws and regulations. If any bitcoin trading platform is found to have violated the above requirements and the circumstances are serious, the inspection team will request the relevant departments to shut down and ban it according to law

References: http://money.163.com/15/0926/09/B4E9TIAH00253B0H.html
http://www.ke.com/wiki/%E6%AF%94%E7%89%B9%E5%B8%81%E4%B8%AD%E5%9B%BD
5. At present, the trading of virtual currencies such as bitcoin in China is closed and cannot be traded in exchanges
virtual currency lacks supervision and is too free; Therefore, China's current virtual currency is still in a serious regulatory scope; Of course, the research on virtual currency blockchain technology is worth trying.
6. On November 1, 2008, a self styled Satoshi Nakamoto posted a research report on a secret cryptography discussion group, which expounded his new idea of e-money bitcoin came out
on January 3, 2009, Nakamoto g up the first batch of 50 bitcoins on a small server in Helsinki, Finland< On May 21, 2010, the first bitcoin transaction: Florida programmer Laszlo
hanyecz bought a $25 pizza coupon with 10000 BTC< On July 16, 2010,
the price of BTC rose by US $0.08 from US $0.008, showing the rise of new things
on July 17, 2010, the first bitcoin platform was established
on November 6, 2010, the price on mtgox reached $0.5, and the bitcoin economy reached $1 million
on December 7, 2010, the first portable device to portable device transaction was realized on Nokia 900, with a transaction volume of 0.42btc
on February 9, 2011, the price reached US $1 for the first time, which is equivalent to US $1. The news that BTC is equivalent to us dollar has been widely reported by the media, which has aroused people's great attention, and the number of new users has increased greatly. In the next two months, bitcoin and pound sterling, Brazilian currency, Polish currency exchange trading platform has opened
on March 18, 2011, the BTC / USD exchange rate hit a seven week low, falling to US $0.7
on August 20, 2011, the first bitcoin conference and World Expo were held in New York. Among Google trend counties, bitcoin's attention reached a new high, with a price of $11 at that time
on November 14, 2011, the price of bitcoin hit a new half year low of $1.99
on September 15, 2012, the bitcoin conference was held in London. At this time, the price of bitcoin was $11.8
on September 27, 2012, bitcoin fund was founded, and the price of bitcoin was $12.46
on November 25, 2012, the first bitcoin conference in Europe was held in Prague, Czech Republic. At this time, the price of bitcoin was $12.6
on February 19, 2013, bitcoin client v8.0 was released. At this time, the price of bitcoin was $28.66
on April 10, 2013, BTC set a record high price of $110
on May 9, 2013, BTC Chinese, the largest bitcoin reporting website www.sosobtc.com The company obtained the investment fund union
square's $5 million round a investment, and the price of bitcoin was $112.09< On May 17, 2013, the San Jose bitcoin conference was held with 1300 participants. At this time, the bitcoin price was US $119.1.
on May 28, 2013, the US Department of Homeland Security banned the virtual currency service of Liberty Reserve, a Costa Rican exchange company, for suspected xiqian and unlicensed fund transfer business, U.S. prosecutors said that this will become the largest international xiqian lawsuit in history, with the scale of absorbing money reaching 6 billion US dollars. A large number of users, including China, will lose all their money. At this time, the price of bitcoin is 128 US dollars
in June 2013, Netcom said that the United States will withdraw from qe3, deflationary bitcoin and quantitative easing monetary policy, which are the relationship between the two
on June 27, 2013, the German Conference made a decision: holding bitcoin for more than one year will be tax-free, which is considered by the instry to recognize the legal status of bitcoin. At this time, the price of bitcoin is $102.24
on June 28, 2013, mtgox obtained the monetary service license issued by the financial crime enforcement network office of the U.S. Department of the Treasury. Transaction standardization may mean that bitcoin is on the right track, government risk is reced, and its pace of integration into the display economy will be accelerated. At the same time, it will play an exemplary role in other virtual currencies. At this time, the price of bitcoin is $97.99< On November 28, 2013, the bitcoin trading price of Mt.
GOx, a popular bitcoin exchange, broke through $1000, reaching a record high of $1073
on November 29, 2013, the trading price of bitcoin on Mt. GOx, a popular exchange, hit a record high of US $1242, while the price of gold was US $1241.98 an ounce, surpassing that of gold for the first time.
7. There's no fake defense
8. One belt, one road Summit Forum, 1. the five Session Fifth the 12th CPPCC National Committee
2, the first forum, the high-level forum, the 2030 core vision, the 2030 vision, the Fifth, the Asian forum, the Asian forum, the "Asian Games", the "Asian Games", the "Asian Games", the "Asian Forum", "the Asian Forum", "the Asian Forum", "the Asian Forum", "the Asian Forum", "the Asian Forum", "the Asian Forum", "the", "the". Nuclear safety
8, sharing economy
9, healthcare reform
10, terrorist attack
9. At the turn of the century and the beginning of the millennium, the origin and development of money are accompanied by the evolution of human social history. While recording human social and economic activities, it has become an important tool to study social history and explore human civilization. The Chinese nation has a long history and is hardworking and brave. While creating and nurturing human civilization, it also nurtures the dazzling, coherent and far-reaching Oriental currency culture, which has become an important part of the study of the evolution of world currency. According to the relevant historical materials and archaeological studies, the origin and development of Chinese currency is basically synchronized with that of the world currency, which generally came into being after the first social division of labor, developed in the slave society of yin and Shang Dynasties, formed in the Later Zhou Dynasty and unified in the Qin Dynasty. As far as the history of its currency development is concerned, it has experienced four different stages: the period of physical currency, the period of metal currency, the period of paper currency and the period of modern electronic currency. Among them, China's metal currency silver casting, the use of paper money, far earlier than other countries and regions in the world
the period of physical currency is the initial stage of currency development, which came into being in the late primitive society after the first social division of labor and the separation of animal husbandry and agriculture. According to the book of changes, the second part of Xici, Shennong's work is that "the sun is the market, the world is the people, the goods are gathered in the world, the trade is retreated, and each has its own place.". This passage describes the process of commodity exchange in the early stage of China's physical currency. The form of exchange is barter. With the development of exchange, the form of "barter exchange" graally can not adapt. Therefore, people choose a kind of proct that everyone is willing to accept as the equivalent, and this kind of proct obtains the function of currency, which is called "physical currency". The objects were livestock, cloth millet and coins< In the period of metal currency, barter was used in China. It's called "barter.". With the development of exchange, the form of "barter" graally can not adapt. Therefore, people choose a proct that everyone is willing to accept as an equivalent. This kind of proct obtains the function of currency, which is called "physical currency". The objects are livestock, Busu and shellfish
ring the period of metal currency, it was used after the separation of handicraft instry. Metal money has long been dominant in the use of money in China, and has been used for thousands of years. It presents complex and diverse forms of currency system, and plays an important role in China's monetary system. Metal coinage mainly experienced three different stages:
first, ing currency stage. The coins of this period were made of metal. Compared with the real money period, there were several kinds of fixed shapes, but there was no standard weight, only the difference of size and weight. From the Shang Dynasty to the end of the Warring States period, there was the imitation currency stage, including imitation shellfish, imitation farm tools and imitation tools. The main types of coins were cloth coin of the Western Zhou Dynasty, Qi, Yan Dao coin, Chu Yi Bi coin and round coin imitating spinning wheel. In the aspect of monetary theory research, it has achieved initial results, among which the theory of "the right of son and mother" has a great influence on the later monetary theory research
Second, the stage of recording currency. In 221 B.C., after the unification of the six states, Qin Shihuang unified the complicated imitative coins into gold and half square round coins. At this stage, silver began to be minted and popularized, making China the first country in the world to use silver to make coins. Among them, the wuzhu coin of Han Dynasty is the most successful and long used heavy currency in the history of our country. In the research of currency theory, it has also changed from the light and heavy theory of ing currency stage to the name theory and metal theory of heavy currency stage
the third stage is the currency stage. The use of Tongbao in Kaiyuan of Tang Dynasty marks the beginning of the currency stage of metal coin, that is, the next year's number is cast on the coin. According to the archaeological findings, the coinage of Ming Dynasty did not start from the Tang Dynasty, and the first coinage of Tang Dynasty was not the coinage of Ming Dynasty. However, most of the coins after Tang Dynasty were coined with Ming Dynasty. Therefore, it is customary for China to call the coinage of Tang Kaiyuan Tongbao as the coinage stage of recording the year. The emergence of the new year's treasure money is not only the need of the economic development of the Tang Dynasty, but also the summary of the monetary practice of the previous dynasty. The Tang Dynasty is the heyday of the development of China's feudal dynasty. With the increase of foreign exchanges, the currency of this period has an important impact on the changes of China's later currency and the development of the world currency. The prosperity of economy in Tang Dynasty is manifested in currency: first, the prosperity of economy promoted the development of monetary credit institutions. At that time, credit institutions specialized in exchange and exchange had appeared in Chang'an, and "flying money" similar to bill of exchange appeared; Second, in addition to the common copper coins, there were gold and silver coins in the Tang Dynasty, which developed the metal form of currency. The most influential coinage of this period is the "Kaiyuan Tongbao" of Tang Dynasty
papermaking is one of the four great inventions in China, and China is also one of the earliest countries to use paper money. Its use can be traced back to the White Deer Skin money of Han Dynasty and the "flying money" of Tang Dynasty. Jiaozi was officially issued in the Northern Song Dynasty (about 1000 A.D.). It was graally improved and became the main currency in economic exchanges in Yuan and Ming Dynasties, and continued to be used in Qing Dynasty, but was once abolished. The emergence and use of paper money is spontaneous in the process of social and economic exchanges, which is an unprecedented change in the history of monetary development. 800 years ago, Marco Polo, a world-famous traveler who came to China for a trip in the middle of Ming Dynasty, could not understand that cheap paper could be exchanged with expensive silk at the same price. Although the paper money changed the way of commodity exchange, the feudal society and the modern rulers only used the paper money as a tool to gather wealth, which led to the inflation. The paper money issued in 1935 when the Kuomintang government implemented the "reform of legal money" was also used as a tool to exploit and squeeze the people, expand armaments and persist in civil war, As a result, prices rose and people did not start a fire. It was not until the birth of the people's monetary system in December 1948 that the issue and use of banknotes were truly standardized and unified, and the stability of currency value was maintained, which effectively promoted the prosperity of China's economy and the continuous improvement of people's living standards
if we say that the use of paper money in the last century marks a new era in the history of currency development in China, then the electronic money created by the Americans at the beginning of the 20th century as a symbol of modern society is another significant change in the history of currency development, which not only changes the traditional way of payment of human beings, but also changes the traditional way of payment, It has not only realized the leap of money from the tangible stage to the intangible stage, but also changed people's standard of measuring wealth for thousands of years, involving all aspects of human life. In the past decade, e-money has developed rapidly in China with its advantages of convenience, safety and efficiency, and has been widely used in many fields such as people's proction and life. With the continuous development of science and technology and the formation of e-money Internet, it is inevitable for e-money to replace traditional money. We believe that the era of e-money represented by credit card has arrived in the 21st century, and it is no longer a human dream to have one card in hand and travel all over the world
looking back on the past and looking forward to the new century, China was one of the earliest ancient civilizations in the world to manufacture and use currency. In the long history of currency, China has written down countless brilliant achievements of Chinese civilization and recorded the most powerful page of feudal dynasties in Han and Tang Dynasties. However, e to the closed door situation in the late feudal society and the backwardness of modern instry, we have lagged far behind the western countries in the level of science, technology and economic development, which requires that every coin enthusiast should not confine himself to the shape, size, weight, color, composition, writing, and casting age of coins In terms of proction technology, we should improve it to the social and economic structure and study the emergence, development and change of money; And we should put the research on currency in its specific history, study its social and economic conditions, as well as politics, military and culture, learn from the past, learn from the present, recognize the laws of economic activities, master modern science and technology, and serve the socialist financial cause and financial system reform. Only in this way can we better carry forward China's long-standing currency culture.
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