Generalized virtual currency

1. virtual currency refers to non real currency. Well known virtual currencies, such as online currency of Internet company, q-coin of Tencent company, q-point and voucher of Shanda company, micro currency launched by Sina (used for micro games, Sina reading, etc.), chivalrous Yuanbao (used for chivalrous road game), silver grain (used for bixue Qingtian game), and popular digital currencies in 2013 include bitcoin, Laite coin, infinite coin, quark coin, zeta coin, etc Barbecue coins, pennies (Internet), invisible gold bars, red coins, prime coins. At present, hundreds of digital currencies are issued all over the world. Popular in the circle & quot; The legend of "bitcoin, Wright silver, infinite copper, pennies aluminum"
according to the notice and announcement issued by the people's Bank of China and other departments, virtual currency is not issued by the monetary authority, does not have legal compensation and mandatory monetary attributes, is not a real currency, does not have the same legal status as currency, cannot and should not be used as currency in the market, and citizens' investment and transaction of virtual currency are not protected by law
the content of this article comes from: financial code of the people's Republic of China: application edition, China Law Press

2.

Virtual currency wallets and local wallets are wallets specially used to store virtual currency

difference: local wallets are installed on their own computers or mobile phones, while online wallets encrypt the private key and put it on the server

personal computers may be implanted with Trojans; The wallet server also has the risk of being attacked by hackers, and the encrypted private key is cracked. Server security is better than personal computers, but it is easier to attract hackers' attention

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virtual currency Wallet:

there are three main types: Online wallet, client wallet (mobile client, computer client) and hard wallet

1. Online Wallet: it refers to the operation of virtual currency relative to wallet by users in the form of network; The main form is website, which users can visit through computer and mobile phone

2. Client Wallet: it is an installation software, which needs to be downloaded to the computer or mobile phone, and can only be used after installation; This is the type of mobile app wallet that I just mentioned

3. Hard Wallet: it is similar to the wallet in the form of U disk, which is a real type of wallet

local Wallet:

the English name of local wallet is local wallet. Local wallet is to store private key and transaction data in local terminal, such as computer, mobile phone or other local devices; It refers to the storage location of the key, and its concept is independent of online wallet and offline wallet

the English name of local wallet is local wallet. It is one of the terms related to bitcoin wallet in blockchain. Local wallet is to store private key and transaction data in local terminal, such as computer, mobile phone or other local devices; Local wallet refers to the storage location of key, which is independent of online wallet and offline wallet

the local wallet is installed on your own computer or mobile phone, while the online wallet is encrypted and put on the server. Personal computers may be implanted with Trojans. Hackers may steal your wallet files and record your wallet password; The wallet server may also be attacked by hackers, and the encrypted private key may be cracked. Server security protection is better than personal computers, but it is also easier to attract hackers' attention. In terms of security, I think these two types of wallets are similar

to enhance the security of local wallet and online wallet, it's better to set a more complex password, and don't forget it. Both local wallet and online wallet are easy to use and easy to use. Because online wallet is not limited by clients, it is easier to use than local wallet. Bitcoin core, Bitai wallet and bitpai wallet all belong to this category

local Wallet_ Network

3. For example, QQ currency and silver in online games are all virtual currencies. Often real money can be directly converted into virtual money. Although virtual money can not be directly converted into real money, it can still be converted into real money through private transactions of netizens

currency is issued by the state, but virtual currency is issued by indivial operators, and there is no relevant laws and regulations to limit its circulation. When this kind of virtual currency issued for the commercial interests of operators and real currency exchange circulation is more and more frequent, more and more widely, and partially replace the real currency to buy goods or services in the market, it is equal to increasing the real money supply

at present, virtual currency is becoming more and more prosperous. Some virtual currencies have evolved into the characteristics of general currency, such as value scale, means of circulation and means of payment. Therefore, it is easy to have an impact on general currency in reality, thus affecting the normal financial order.

4. M2 refers to the broad money supply, the cash circulating outside the banking system, plus enterprise deposits, residents' savings deposits and other deposits. It includes all possible forms of money that can become real purchasing power, and usually reflects the changes of social aggregate demand and the pressure of future inflation. In recent years, many countries take M2 as the target of money supply regulation
this answer is provided by KangBo finance and economics. KangBo finance and economics focuses on the interpretation of financial hot events and the popularization of financial knowledge. It adheres to the profession and pursues fun. It is a financial content that people can understand and transmits financial value in a variety of vivid ways. I hope this answer will help you.

5.

Broad money is the symmetry of narrow money. The sum of M1 and fixed deposits of commercial banks. Because all kinds of time deposits can be withdrawn in advance and converted into real purchasing power, they can be counted as money, which can more comprehensively reflect the currency circulation and facilitate the analysis and control of market financial activities

By analogy, savings deposits, negotiable certificates of deposit and short-term bonds that are easy to change hands can also be included according to their liquidity status. Usually, M2M3 and other codes are used for classification statistics, and the liquidity of quasi currencies that increase in turn decreases in turn

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development history

1. Barter

the history of money used by human beings originated in the earliest era of material exchange. In the primitive society, people used barter to exchange what they needed, such as a sheep for a stone axe. But sometimes, e to the limitation of the types of goods used for exchange, we have to find a kind of goods that can be accepted by both sides of the exchange

After years of natural elimination, in the vast majority of society, the goods used as currency are graally replaced by metal. The advantage of using metal currency is that it needs to be manufactured manually, cannot be obtained from a large amount of nature, and is easy to store

Gold, silver and copper, which are rare in quantity and difficult to smelt, have graally become the main currency metals. Some countries and regions have used iron currency. In the early days, metal coins were massive, so it was necessary to test their fineness with a touchstone and weigh them at the same time. With the development of human civilization, a more complex and advanced monetary system has been graally established

Gold and silver the main currency in western countries is gold and silver, and the subsidiary currency is made of copper and copper alloy. With the development of European Society and economy, the volume of commodity trade increased graally. In the 15th century, the developed Flanders and the northern Italian states appeared the panic of deflation

since the 16th century, a large number of gold and silver from America have flowed into Europe through Spain, saving the European monetary system and creating conditions for the capitalist economic development in Europe

With the further development of economy, metal currency also shows the inconvenience of use. A lot of metal coins need to be used in large transactions, and their weight and volume are troublesome

According to incomplete statistics, more than 20000 tons of gold have been worn out in the mint, or in people's hands, money bags and clothing pockets since the use of gold as currency. As a result, as a symbol of metal currency, paper money appeared. Jiaozi, the earliest paper currency in the world, appeared in Sichuan area of China ring the Song Dynasty

6. Broad money is an economic concept, corresponding to narrow money. It is a form or caliber of money supply, which is expressed by m2. Its calculation method is transaction money (M1, that is, the total amount of social currency plus demand deposit), time deposit and savings deposit
however, e to historical reasons, the statistical caliber and expression methods are different in different countries. For example, in the economic statistics of the United States, m3 is often used to express broad money; In the UK, M4 is used

is just a concept

7. Narrow money: it is a macro-economic concept, which is represented by M1 in economics. Its calculation method is the total amount of social currency in circulation plus all current deposits of commercial banks
broad money: broad money is an economic concept, corresponding to narrow money. In economics, it is represented by m2, which is calculated by the total amount of money in circulation plus demand deposits, time deposits and savings deposits

currency in circulation (currency for short) is a tool or a group of tools used for material exchange, sometimes just called "currency". It is a special kind of commodity. It is the specific manifestation and measurement unit of money. Currency area refers to the circulation and use of a single currency countries or regions. Different currency areas need to introce the concept of exchange rate when they exchange currency with each other

Introction

generally, each country only uses a single currency, which is issued and controlled by the central bank. However, there are exceptions, that is, multiple countries can use the same currency. For example, the euro commonly used in EU countries, the franc in the West African Economic Community, and the Latin American Monetary Union in the 19th century are equivalent currencies with different names but can circulate freely within the union. A country can choose the currency of other countries as its legal currency. For example, Panama chooses the US dollar as its legal currency. The currencies of different countries may also use the same name. For example, before France and Belgium used the euro, their currencies and Swiss currencies were called francs. Sometimes, for special reasons, different autonomous bodies in the same country may issue different versions of currency. For example, in the United Kingdom, including England, Scotland or even Jersey and Guernsey, which are remote islands, they have different versions of pound sterling issued by themselves, and they can trade with each other in other parts of the United Kingdom, However, only the English pound is the internationally recognized trading currency, and other versions of the pound may be rejected after they are taken out of the UK

each basic currency unit can also be divided into smaller secondary currencies. The most commonly used proportion is 1 / 100 of the main currency, for example, 100 points = 1 yuan. Before the French Revolution popularized metric system, 1 / 20 / 240 system was used for a long time in European history. For example, in Britain, 1 pound was equal to 20 shillings and 240 pence; In France, 12 deniers are sol and 20 sous are Livre. 1: 7, 1:14, 1:25, 1:10, 1:1000 and other carry systems were also used

in some countries, there is no secondary currency, or although there is a secondary currency, it is only a theoretical conversion unit because the value of the currency is too small, and no actual currency, such as Japanese yen and Korean won, is issued<

History

barter

the history of human use of money originated in the earliest era of material exchange. In the primitive society, people used barter to exchange what they needed, such as a sheep for a stone axe. But sometimes, e to the limitation of the types of goods used for exchange, we have to find a kind of goods that can be accepted by both sides of the exchange. This kind of goods is the most primitive currency. Livestock, salt, rare shells, rare bird feathers, gemstones, sand gold, stones and other items that are not easy to obtain in large quantities have been used as currency

metal currency

after years of natural elimination, in most societies, the goods used as currency are graally replaced by metal. The advantage of using metal currency is that it needs to be manufactured manually, cannot be obtained from a large amount of nature, and is easy to store. Gold, silver and copper, which are rare in quantity and difficult to smelt, have graally become the main currency metals. Some countries and regions have used iron currency

in the early days, metal coins were massive, so it was necessary to test their fineness with a touchstone and weigh them at the same time. With the development of human civilization, a more complex and advanced monetary system has been graally established. People in ancient Greece, Rome and Persia made coins of uniform weight and quality. In this way, in the use of money, there is no need to weigh, there is no need to test the quality, no doubt much more convenient. These coins bear the head of the king or emperor, complicated heraldry and seal to avoid forgery<

gold and silver

in western countries, the main currency is gold and silver, and the subsidiary currency is made of copper and copper alloy. With the development of European Society and economy, the volume of commodity trade increased graally. In the 15th century, the developed Flanders and the northern Italian states appeared the panic of deflation. From the 16th century, a large amount of gold and silver from America flowed into Europe through Spain, which saved the European monetary system and created conditions for the capitalist economic development in Europe

paper money

with the further development of economy, metal money also shows the inconvenience of use. A lot of metal coins need to be used in large transactions, and their weight and volume are troublesome. According to incomplete statistics, since the use of gold as currency, more than 20000 tons of gold have been worn out in the mint, or in people's hands, money bags and clothing pockets. As a result, as a symbol of metal currency, paper money appeared. Jiaozi, the earliest paper currency in the world, appeared in Sichuan area of China ring the Song Dynasty<

gold standard

the original paper money was based on gold, which could be freely exchanged with gold, and the two could circulate at the same time, and the circulation of paper money was relatively small. By the end of the 19th century, the capitalist economy had an unprecedented expansion and development, so paper money graally became the main currency in circulation, but they still had gold as the guarantee of issuance. This monetary system is called the "gold standard"

currency anti-counterfeiting

the problem of counterfeiting currency appears together with the monetary system. In the era of metal currency, the method of forgery was to mix copper, lead and other cheap metals into gold coins. At that time, the only way to deal with this kind of crime was to use severe punishment to intimidate forgers once found

banknotes are more likely to be forged. After the French Revolution, bond was issued as a substitute note, which was mortgaged by the confiscated church property. In order to destroy the French economy, the British government once forged this kind of currency (at the same time, private forgery of French paper money will be sentenced to death). This is also one of the earliest economic wars. During the Second World War, Germany used to forge a large number of British and American banknotes in concentration camps. The records of counterfeit banknotes by private or criminal organizations also emerge in an endless stream. In order to avoid forgery, many anti-counterfeiting measures have been adopted: special paper, offset embossing, watermark, magnetic ink, metal safety wire, UV fluorescent mark, color changing ink, front and back pattern printing (this technology is most eye-catching in French francs), etc. Australia, New Zealand and other countries have also issued plastic currency<

modern currency

under the gold standard system, the currency exchange rate between countries implementing the gold standard is determined according to their respective ratio of gold content - Gold parity. The system is based on the free flow of gold. After the outbreak of the first World War, the United Kingdom, France, Russia, Germany, Japan and other participating countries banned the export of gold, and the gold standard system has actually collapsed

after the first World War, the currencies of Germany, Austria and other countries depreciated significantly. Since then, there has not been a fixed exchange rate base between currencies. According to the Bretton Woods Agreement of 1944, the currencies of the member countries of the International Monetary Fund should be linked to gold or US dollars and exchanged at a fixed exchange rate. This agreement established the international monetary status of the US dollar, and the monetary system of various countries established by this agreement is called the Bretton Woods system. In August 1971, the US dollar stopped exchanging with gold freely, and the Bretton Woods system collapsed. From then on, it entered the era of symbolic currency. Since then, floating exchange rates have been adopted among countries. Some relatively stable currencies or currencies with appreciation potential, such as the Swiss franc, the West German mark and so on

the international standards organization (ISO) has designated a three letter symbol system to represent the currencies of various countries. The code name of this standard is ISO 4217

in the currency exchange rate table, we can see the exchange rate changes among currencies in the world in recent years

the function of money

because money is a commodity, it has the same use value and exchange value as all commodities. When in different forms of value movement, money plays different roles: value scale, means of circulation, means of payment, means of storage and world money. Among them, value scale and circulation means are the basic functions of money. The other three functions are derived from them

value scale

value scale is the direct embodiment of money as social labor. As a kind of commodity, money itself can be compared with other commodities according to its own standard. At this time, the form of value of commodities is transformed into the form of price, and the form of value of commodities expressed through money is price. When money performs the function of value measure, money only needs to exist in imaginary or conceptual form, but its unit must depend on the currency circulating in reality. It is precisely because of the value scale function of money that people can first convert different forms of goods into the price form of money, and then exchange with other goods. Money itself, as a commodity, also has the difference in quantity between different currencies. Therefore, people also set a quantity standard for money, that is, the price standard (sometimes also called the price scale). It is made of a unit of currency and its equal parts containing a certain weight of metal

means of circulation

after the currency implements the means of circulation, it makes the exchange of goods possible. The circulation means is the development of the function of monetary value measure. The emergence of money makes the exchange between commodities have direct barter exchange, which turns into the exchange with money as the medium. That is, from commodity commodity to commodity currency commodity. There are not only formal differences but also qualitative differences between them<

Chinese currency

the monetary system of ancient China was based on copper coin. Earlier forms of money have not yet been found. The original copper coins were various in shape, including knife coins, cloth coins, ant nose coins and many other forms. After the first emperor of Qin unified China, he ordered the copper coins of the whole country to be based on the copper coins of Qin. Because the sand mold is used to cast the copper coin, the cast copper coin has a rough edge, so there is a square hole in the center, which can be polished and filed with wooden sticks in series. This special shape gives it many symbolic mystical explanations. Some people think that the circle of the copper coin represents "heaven" and the square hole in the center represents "Earth". Copper coins usually bear the year of the emperor

gold coins were rare in ancient China. During the spring and Autumn period and the Warring States period, the state of Chu in the Yangtze River Valley in southern China used gold cakes and pieces. but