Outcoin mining trading network
Publish: 2021-04-13 14:58:58
1. In China, there is no formal virtual currency trading platform. So don't think about it, wash and sleep.
2. The concept of bitcoin was first proposed by Nakamoto on November 1, 2008, and was officially born on January 3, 2009. According to the idea of Nakamoto, the open source software is designed and released, and the P2P network on it is constructed. Bitcoin is a virtual encrypted digital currency in the form of P2P. Point to point transmission means a decentralized payment system
unlike all currencies, bitcoin does not rely on a specific currency institution to issue. It is generated by a large number of calculations based on a specific algorithm. Bitcoin economy uses a distributed database composed of many nodes in the whole P2P network to confirm and record all transactions, and uses cryptography design to ensure the security of all aspects of currency circulation. The decentralized nature and algorithm of P2P can ensure that it is impossible to artificially manipulate the value of bitcoin through mass proction. 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
on December 17, 2017, bitcoin reached an all-time high of $19850. On July 27, 2020, bitcoin broke through the $10000 mark again [2]<
Chinese name
bitcoin
foreign name
bitcoin
type
encrypted digital currency
circulation platform
Network
founder
Nakamoto Tsung
quick
navigation
founder generation principle currency characteristics currency trading legal status external evaluation
development process
what is the single bitcoin selected
01:07
from the transaction of things In 2008, the global financial crisis broke out. On November 1 of the same year, a person who called himself Satoshi Nakamoto published the white paper bitcoin: a peer-to-peer e-cash system [6] on the P2P foundation website, stating his new idea of e-money bitcoin came out. On January 3, 2009, bitcoin Genesis block was born
there are three bitcoins in total
compared with legal tender, bitcoin does not have a centralized issuer, but is generated by the calculation of network nodes. Anyone can participate in the manufacture of bitcoin, and it can circulate all over the world. It can be bought and sold on any computer connected to the Internet. No matter where they are, anyone can dig, buy, sell or receive bitcoin, And in the transaction process, foreigners can not identify the user's identity information. On January 5, 2009, bitcoin, which is not controlled by the central bank and any financial institutions, was born. Bitcoin is a kind of digital currency, which is composed of a series of complex codes generated by computer. The new bitcoin is made by preset program
whenever bitcoin comes into the view of mainstream media, mainstream media always ask some mainstream economists to analyze bitcoin. Earlier, these analyses always focused on whether bitcoin was a scam. Now the analysis is always focused on whether bitcoin can become the mainstream currency in the future. The focus of the debate is often on the deflationary nature of bitcoin[ 7]
many bitcoin players are attracted by the fact that bitcoin can not be added at will. Contrary to the attitude of bitcoin players, economists have a polarized attitude towards the fixed amount of 21 million bitcoin
Keynesian economists 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 block reward to reward the person who gets the answer[ 6]
in 2009, when bitcoin was born, block rewards were 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[ 3]
bitcoin is a 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
on February 25, 2014, the opening price of "bitcoin China" was 3562.41 yuan. By 4:40 p.m., the price had dropped to 3185 yuan, down more than 10%. According to the historical market data of the platform, on January 27, 2014, 1 bitcoin could be exchanged for 5032 yuan. This means that in less than a month on the platform, the price of bitcoin has dropped by 36.7%
on September 9 of the same year, the US e-commerce giant eBay announced that Braintree, its payment processing subsidiary, would start accepting bitcoin payments. The company has entered into a partnership with coinbase, a bitcoin trading platform, to begin to accept this relatively new means of payment
although the eBay market trading platform and paypal business do not accept bitcoin payment, Braintree customers such as airbnb, a travel house rental community, and Uber, a car rental service, will be able to start accepting this virtual currency. Braintree, whose main business is to provide payment processing software to enterprises, was acquired by eBay in 2013 for about $800 million
on the evening of January 22, 2017, fire coin, bitcoin China and okcoin announced on their respective official websites that in order to further curb speculation and prevent drastic price fluctuations, all platforms will start to collect transaction service fees from 12:00 noon on January 24, and the service fees will be charged at a fixed rate of 0.2% of the transaction amount, and the active transaction and passive transaction rates are the same[ 8] On May 5, according to the latest data of okcoin, the price of bitcoin has just set a new record, reaching a high of 9222 yuan by the time of publication. From 12:00 noon on January 24, China's three major bitcoin platforms officially began to collect transaction fees. On September 4, the central bank and other seven ministries and commissions announced that China banned virtual currency trading
on December 17 of the same year, bitcoin reached an all-time high of $19850
on November 25, 2018, bitcoin broke the $4000 mark and then stabilized at more than $3000[ 9] On November 19, cryptocurrency resumed its decline, and bitcoin fell to the $5000 mark for the first time since October 2017, e to BCH's hard bifurcations and the regulatory authorities' enhanced scrutiny of the initial token issue (ICO)[ 9] At 4:30 a.m. on November 21, the offer of bitcoin on the coinbase platform fell below $4100, a 13 month low
in April 2019, bitcoin broke the $5000 mark again, reaching a new high in the year[ 10] On May 12, bitcoin broke through $7000 for the first time in nearly eight months[ 11] On May 14, according to the offer of coin market cap, bitcoin stood at $8000, up 14.68% in 24 hours[ 12]
on June 22 of the same year, the price of bitcoin broke through the $10000 mark. Bitcoin prices fluctuated around 10200, rising nearly 7% in 24 hours[ 13] On June 26, the price of bitcoin broke through $12000, a 17 month high since January last year[ 14] In the morning of June 27, the price of bitcoin was close to $14000, reaching a new high of the year[ 15]
on February 10, 2020, bitcoin broke through $10000. According to trading data, bitcoin's price rose more than 3%, breaking the psychological limit of $10000 for the first time since October 26 last year[ 16]
on March 12, according to the data of bitstamp, the cryptocurrency trading platform, the lowest price of bitcoin dropped to US $5731 at 19:44[ 17]
on May 8, bitcoin broke through the $10000 mark, a new high since February[ 18]
from 8:00 a.m. on May 10, the unit price of bitcoin fell by thousands of dollars from $9500 in half an hour, with the lowest price falling below $8200 and the highest price difference exceeding $1400[ 19]
at 6 p.m. on July 26, bitcoin rose rapidly for a short time, reaching a maximum of 10150.15usdt, with a maximum increase of more than 4% within the day. This is the first time since June 2, 2020 that bitcoin has exceeded the $10000 level[ 2]
bitcoin has been "forked" more than 100 times in two years. How about those forked coins now
a financial book
like 67
reading 6113
it's easy to be attacked by hackers and ask for bitcoin! Network threat has been related to the life and death of enterprises<
heart of rock
Zan 18
reading 1886
I bet that bitcoin will never die out
entrepreneurial state
Zan 96
reading 15000
visiting bitcoin mine in Xinjiang
Huchou net
Zan 27
reading 4553
overseas mining rise: batch construction of us factories, On November 1, 2008, a self styled Satoshi Nakamoto published a bitcoin white paper, bitcoin: a peer-to-peer electronic cash system, on the P2P foundation website, stating his new idea of electronic money bitcoin came out
Wang yuexinyi, Professor of mathematics at Kyoto University, was born on January 3, 2009. Bitcoin uses distributed ledger to get rid of the constraints of third-party institutions, which Nakamoto calls "blockchain". Users are willing to dedicate the computing power of CPU and run a special software to be a "digger", which will form a network to maintain the "regional chain". In the process, they also generate new money. Business is also extended on this network. Computers running this software are scrambling to solve the problem of irreversible code, which contains several business data. The first miner to deal with the problem will get a 50 bitcoin reward, and the relevant trading area will join the chain. As the number of "miners" increases, the difficulty of each puzzle also increases, which keeps the proctivity of bitcoin in each trading area at about 10 minutes
in 2009, Nakamoto designed a digital currency, namely bitcoin. The booming bitcoin market has gone up and down, and the identity of its founder "Nakamoto" has always been a mystery. Rumors about "the father of bitcoin" involve from the US National Security Agency to financial experts, and also give bitcoin a mysterious aura
according to foreign media reports, computer scientist Ted Nelson released a video on the Internet on Sunday, saying that he has determined that the founder of bitcoin is Shinichi Mochizuki, a professor of mathematics at Kyoto University. The founders of bitcoin have always used
unlike all currencies, bitcoin does not rely on a specific currency institution to issue. It is generated by a large number of calculations based on a specific algorithm. Bitcoin economy uses a distributed database composed of many nodes in the whole P2P network to confirm and record all transactions, and uses cryptography design to ensure the security of all aspects of currency circulation. The decentralized nature and algorithm of P2P can ensure that it is impossible to artificially manipulate the value of bitcoin through mass proction. 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
on December 17, 2017, bitcoin reached an all-time high of $19850. On July 27, 2020, bitcoin broke through the $10000 mark again [2]<
Chinese name
bitcoin
foreign name
bitcoin
type
encrypted digital currency
circulation platform
Network
founder
Nakamoto Tsung
quick
navigation
founder generation principle currency characteristics currency trading legal status external evaluation
development process
what is the single bitcoin selected
01:07
from the transaction of things In 2008, the global financial crisis broke out. On November 1 of the same year, a person who called himself Satoshi Nakamoto published the white paper bitcoin: a peer-to-peer e-cash system [6] on the P2P foundation website, stating his new idea of e-money bitcoin came out. On January 3, 2009, bitcoin Genesis block was born
there are three bitcoins in total
compared with legal tender, bitcoin does not have a centralized issuer, but is generated by the calculation of network nodes. Anyone can participate in the manufacture of bitcoin, and it can circulate all over the world. It can be bought and sold on any computer connected to the Internet. No matter where they are, anyone can dig, buy, sell or receive bitcoin, And in the transaction process, foreigners can not identify the user's identity information. On January 5, 2009, bitcoin, which is not controlled by the central bank and any financial institutions, was born. Bitcoin is a kind of digital currency, which is composed of a series of complex codes generated by computer. The new bitcoin is made by preset program
whenever bitcoin comes into the view of mainstream media, mainstream media always ask some mainstream economists to analyze bitcoin. Earlier, these analyses always focused on whether bitcoin was a scam. Now the analysis is always focused on whether bitcoin can become the mainstream currency in the future. The focus of the debate is often on the deflationary nature of bitcoin[ 7]
many bitcoin players are attracted by the fact that bitcoin can not be added at will. Contrary to the attitude of bitcoin players, economists have a polarized attitude towards the fixed amount of 21 million bitcoin
Keynesian economists 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 block reward to reward the person who gets the answer[ 6]
in 2009, when bitcoin was born, block rewards were 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[ 3]
bitcoin is a 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
on February 25, 2014, the opening price of "bitcoin China" was 3562.41 yuan. By 4:40 p.m., the price had dropped to 3185 yuan, down more than 10%. According to the historical market data of the platform, on January 27, 2014, 1 bitcoin could be exchanged for 5032 yuan. This means that in less than a month on the platform, the price of bitcoin has dropped by 36.7%
on September 9 of the same year, the US e-commerce giant eBay announced that Braintree, its payment processing subsidiary, would start accepting bitcoin payments. The company has entered into a partnership with coinbase, a bitcoin trading platform, to begin to accept this relatively new means of payment
although the eBay market trading platform and paypal business do not accept bitcoin payment, Braintree customers such as airbnb, a travel house rental community, and Uber, a car rental service, will be able to start accepting this virtual currency. Braintree, whose main business is to provide payment processing software to enterprises, was acquired by eBay in 2013 for about $800 million
on the evening of January 22, 2017, fire coin, bitcoin China and okcoin announced on their respective official websites that in order to further curb speculation and prevent drastic price fluctuations, all platforms will start to collect transaction service fees from 12:00 noon on January 24, and the service fees will be charged at a fixed rate of 0.2% of the transaction amount, and the active transaction and passive transaction rates are the same[ 8] On May 5, according to the latest data of okcoin, the price of bitcoin has just set a new record, reaching a high of 9222 yuan by the time of publication. From 12:00 noon on January 24, China's three major bitcoin platforms officially began to collect transaction fees. On September 4, the central bank and other seven ministries and commissions announced that China banned virtual currency trading
on December 17 of the same year, bitcoin reached an all-time high of $19850
on November 25, 2018, bitcoin broke the $4000 mark and then stabilized at more than $3000[ 9] On November 19, cryptocurrency resumed its decline, and bitcoin fell to the $5000 mark for the first time since October 2017, e to BCH's hard bifurcations and the regulatory authorities' enhanced scrutiny of the initial token issue (ICO)[ 9] At 4:30 a.m. on November 21, the offer of bitcoin on the coinbase platform fell below $4100, a 13 month low
in April 2019, bitcoin broke the $5000 mark again, reaching a new high in the year[ 10] On May 12, bitcoin broke through $7000 for the first time in nearly eight months[ 11] On May 14, according to the offer of coin market cap, bitcoin stood at $8000, up 14.68% in 24 hours[ 12]
on June 22 of the same year, the price of bitcoin broke through the $10000 mark. Bitcoin prices fluctuated around 10200, rising nearly 7% in 24 hours[ 13] On June 26, the price of bitcoin broke through $12000, a 17 month high since January last year[ 14] In the morning of June 27, the price of bitcoin was close to $14000, reaching a new high of the year[ 15]
on February 10, 2020, bitcoin broke through $10000. According to trading data, bitcoin's price rose more than 3%, breaking the psychological limit of $10000 for the first time since October 26 last year[ 16]
on March 12, according to the data of bitstamp, the cryptocurrency trading platform, the lowest price of bitcoin dropped to US $5731 at 19:44[ 17]
on May 8, bitcoin broke through the $10000 mark, a new high since February[ 18]
from 8:00 a.m. on May 10, the unit price of bitcoin fell by thousands of dollars from $9500 in half an hour, with the lowest price falling below $8200 and the highest price difference exceeding $1400[ 19]
at 6 p.m. on July 26, bitcoin rose rapidly for a short time, reaching a maximum of 10150.15usdt, with a maximum increase of more than 4% within the day. This is the first time since June 2, 2020 that bitcoin has exceeded the $10000 level[ 2]
bitcoin has been "forked" more than 100 times in two years. How about those forked coins now
a financial book
like 67
reading 6113
it's easy to be attacked by hackers and ask for bitcoin! Network threat has been related to the life and death of enterprises<
heart of rock
Zan 18
reading 1886
I bet that bitcoin will never die out
entrepreneurial state
Zan 96
reading 15000
visiting bitcoin mine in Xinjiang
Huchou net
Zan 27
reading 4553
overseas mining rise: batch construction of us factories, On November 1, 2008, a self styled Satoshi Nakamoto published a bitcoin white paper, bitcoin: a peer-to-peer electronic cash system, on the P2P foundation website, stating his new idea of electronic money bitcoin came out
Wang yuexinyi, Professor of mathematics at Kyoto University, was born on January 3, 2009. Bitcoin uses distributed ledger to get rid of the constraints of third-party institutions, which Nakamoto calls "blockchain". Users are willing to dedicate the computing power of CPU and run a special software to be a "digger", which will form a network to maintain the "regional chain". In the process, they also generate new money. Business is also extended on this network. Computers running this software are scrambling to solve the problem of irreversible code, which contains several business data. The first miner to deal with the problem will get a 50 bitcoin reward, and the relevant trading area will join the chain. As the number of "miners" increases, the difficulty of each puzzle also increases, which keeps the proctivity of bitcoin in each trading area at about 10 minutes
in 2009, Nakamoto designed a digital currency, namely bitcoin. The booming bitcoin market has gone up and down, and the identity of its founder "Nakamoto" has always been a mystery. Rumors about "the father of bitcoin" involve from the US National Security Agency to financial experts, and also give bitcoin a mysterious aura
according to foreign media reports, computer scientist Ted Nelson released a video on the Internet on Sunday, saying that he has determined that the founder of bitcoin is Shinichi Mochizuki, a professor of mathematics at Kyoto University. The founders of bitcoin have always used
3.
I think bitcoin China is a reliable platform. It is the first and largest bitcoin trading platform in China. It is operated by Shanghai satuxi Network Co., Ltd. and was established on June 9, 2011. The team members are mainly from China, Silicon Valley and Europe
bitcoin world is based on credit, and Chinese brands of bitcoin have high credibility in the global bitcoin field
4. Yuanbao.com is a social cancer. Because there are people on the top who dare not check it, yuanbao.com attracts foreign investment by developing Yuanbao district. When the money comes in, it smashes Yuanbao coins to cut off the players. Every new coin of yuanbao.com blows how much money it makes. After it is sold to the players, it keeps falling, and then they come out with a new coin to continue to sell, When players realize that no one will buy new currency after being cheated, their corresponding countermeasures are: if no one buys new currency, they will pull up the price of new currency. Players will think that the new currency is rising, and they will continue to buy the next new currency. As a result, they will lose all their money. If you look at the complaints in Yuanbao group, you will know that Yuanbao is a website that harms the people, and bad things must be short-lived, Hope Yuanbao net retribution will come soon
5. You can use a small MINIUSB
6.
According to the exchange rate on January 6, 2020, 1 pound = 9.1143 yuan, 1 yuan = 0.1097 pound, 500 pound = 4557.15 yuan sterling was issued by the Bank of England, which was founded in 1694. The unit of secondary currency was shilling and pence. One pound was 20 shillings and one shilling was 12 pence. On February 15, 1971, the Bank of England implemented a new currency carry system. The unit of secondary currency was changed to new pence and one pound was 100 new pence the banknotes in circulation include 5, 10, 20 and 50 denominations of pounds, 1, 2, 5, 10, 20 and 50 new pence and 1 and 2 coins extended data: Britain formally adopted the gold standard system in 1821, and the pound became the standard monetary unit of the United Kingdom, containing 7.32238 grams of pure gold per pound. When the first World War broke out in 1914, Britain abolished the gold standard, stopped the circulation of gold coins, and stopped exchanging gold
7.
This is a Linux system IP address configuration command. The specific meaning is:
set the IP address of the system to 192.168.0.2; The subnet mask is 24, that is 255.255.255.0; The broadcast address is 192.168.0.255; The name of NIC device is eth0
all computers in the network must set a unique IP address to communicate normally. Because of this unique address, users can select the objects they need from thousands of computers efficiently and conveniently when they operate on networked computers
The IP address is just like our home address. If you want to write to a person, you need to know his or her address so that the postman can deliver the letter. A computer sending information is like a postman. It must know the only "home address" to avoid sending the letter to the wrong person. But our address is expressed in words, the address of the computer is expressed in binary numbers eth0 is the name set by the system for the network card. If there are al network cards or multiple network cards, there will be names like eth1 and eth2. The name can be set artificially. It is the unique name of the network card in the current computer system
8. Hello, most of these platforms are not compliance channels, or even illegal,
but there is no problem, so it can not be determined
few investors and poor liquidity; Lack of supervision and serious manipulation.
but there is no problem, so it can not be determined
few investors and poor liquidity; Lack of supervision and serious manipulation.
9. Is bitcoin a good idea? No, bitcoin is a funny bad idea. It's a scam. fraud. It's not money. The economic assumption that is the basis of bitcoin ecosystem is ridiculous, and it ignores the knowledge accumulated for hundreds of years about how different currencies work together
fortunately, it is such a leaky system that it will probably never grow to a point where it will have adverse effects or impacts on the world economy
however, I feel it necessary to point out the problem
bitcoin is more like a data transmission system than a cash trading system. Well, the problem is that it doesn't make a deal by offering a digital cash deal in dollars, but by importing a whole new currency. So here we will ask, is this really desirable
one of the fatal problems: the distribution of initial wealth
when the Federal Reserve prints money, it will not issue millions of dollars of checks randomly to thousands of Americans. The work it does is: 1. Buy some other assets (usually US Treasury bonds) in the free market to inject more cash into the system than before; Or, 2. Lend money to the bank, the bank lends money to others, and finally spends the money
the important thing is that these people don't get money for free. They either sell their assets for cash, or borrow money to spend it and eventually pay it back (also paying interest)
the bitcoin system does not have a central bank to issue currency. It has an "algorithm" that allows bitcoin to be "mined" through a rather puzzling mechanism. Basically, it's randomly assigned to people who are early in the tasting season. It's a very good system for early entrants (free money!). It's a ridiculous system for real money, not to mention the obvious lack of expansibility (what happens if everyone mines all day long?) In order to solve this problem, the supply of bitcoin is algorithmically limited, which once again brings benefits to early entrants, but this leads to the second problem:
the second fatal problem: endogenous deflation
economics course time! Deflation results from the appreciation of currency relative to other commodities (such as the decrease of commodity prices). More directly, deflation occurs when people expect the currency to appreciate relative to other commodities, and the price trend continues to decline
question: if money is expected to appreciate, why do you spend it? Answer: Generally speaking, you don't spend money
the supply of bitcoin is set to slow down at a known rate. It eventually reached about 21 million. As shown in the picture
we can see the rate - well, I agree that if it is foreseeable inflation, it may not be desirable from an economic point of view, but it is reasonable. However, if it is to slow down the issuance, if you design a currency to subvert the world order, what you would like to see is this graph:
then what if there is at least a constant growth rate? You may be willing to do that, because that's the only way to adapt to more people using it
but bitcoin is not designed to be a practical currency, it is designed to make early entrants rich. Once again, it's a hoax
for a quick thinking experiment, we assume that more people use bitcoin compared with the growth of demand for bitcoin. In this way, we can expect the dollar price of bitcoin to rise rapidly. Now suppose I have a bitcoin, I also have a dollar bill, I am willing to buy a bottle of Pepsi Cola, which payment method will I use? Obviously, the devalued dollar should be spent more than the rapidly appreciating bitcoin
in the best case, the limitation of bitcoin supply will cause severe deflation, squeeze most of the business activities of bitcoin pricing, and connive at speculation in the trading market. If you are not willing to use it and others are not willing to use it, the so-called benefits of transparency and low transaction costs will not bring you any benefits< The third fatal problem is the lack of convertibility. People have a misunderstanding about the so-called intrinsic value of money. In fact, there is no so-called intrinsic value of money. The nominal value of money is limited to the other money they can trade for. One dollar is equivalent to a certain amount of euro, one euro is equivalent to a certain amount of yen, and one yen is equivalent to a certain amount of dollar. One dollar can be stored in the bank, change a certificate of deposit, and then the certificate of deposit can be changed into one dollar. It can be turned into a commercial or personal check and then into cash or deposit. When you travel, it can be changed into a traveler's check in yen or euro. If you have to pay for sandwiches, the sandwich shop also charges because the money can be converted into something else. It's a wonderful circular balance.
fortunately, it is such a leaky system that it will probably never grow to a point where it will have adverse effects or impacts on the world economy
however, I feel it necessary to point out the problem
bitcoin is more like a data transmission system than a cash trading system. Well, the problem is that it doesn't make a deal by offering a digital cash deal in dollars, but by importing a whole new currency. So here we will ask, is this really desirable
one of the fatal problems: the distribution of initial wealth
when the Federal Reserve prints money, it will not issue millions of dollars of checks randomly to thousands of Americans. The work it does is: 1. Buy some other assets (usually US Treasury bonds) in the free market to inject more cash into the system than before; Or, 2. Lend money to the bank, the bank lends money to others, and finally spends the money
the important thing is that these people don't get money for free. They either sell their assets for cash, or borrow money to spend it and eventually pay it back (also paying interest)
the bitcoin system does not have a central bank to issue currency. It has an "algorithm" that allows bitcoin to be "mined" through a rather puzzling mechanism. Basically, it's randomly assigned to people who are early in the tasting season. It's a very good system for early entrants (free money!). It's a ridiculous system for real money, not to mention the obvious lack of expansibility (what happens if everyone mines all day long?) In order to solve this problem, the supply of bitcoin is algorithmically limited, which once again brings benefits to early entrants, but this leads to the second problem:
the second fatal problem: endogenous deflation
economics course time! Deflation results from the appreciation of currency relative to other commodities (such as the decrease of commodity prices). More directly, deflation occurs when people expect the currency to appreciate relative to other commodities, and the price trend continues to decline
question: if money is expected to appreciate, why do you spend it? Answer: Generally speaking, you don't spend money
the supply of bitcoin is set to slow down at a known rate. It eventually reached about 21 million. As shown in the picture
we can see the rate - well, I agree that if it is foreseeable inflation, it may not be desirable from an economic point of view, but it is reasonable. However, if it is to slow down the issuance, if you design a currency to subvert the world order, what you would like to see is this graph:
then what if there is at least a constant growth rate? You may be willing to do that, because that's the only way to adapt to more people using it
but bitcoin is not designed to be a practical currency, it is designed to make early entrants rich. Once again, it's a hoax
for a quick thinking experiment, we assume that more people use bitcoin compared with the growth of demand for bitcoin. In this way, we can expect the dollar price of bitcoin to rise rapidly. Now suppose I have a bitcoin, I also have a dollar bill, I am willing to buy a bottle of Pepsi Cola, which payment method will I use? Obviously, the devalued dollar should be spent more than the rapidly appreciating bitcoin
in the best case, the limitation of bitcoin supply will cause severe deflation, squeeze most of the business activities of bitcoin pricing, and connive at speculation in the trading market. If you are not willing to use it and others are not willing to use it, the so-called benefits of transparency and low transaction costs will not bring you any benefits< The third fatal problem is the lack of convertibility. People have a misunderstanding about the so-called intrinsic value of money. In fact, there is no so-called intrinsic value of money. The nominal value of money is limited to the other money they can trade for. One dollar is equivalent to a certain amount of euro, one euro is equivalent to a certain amount of yen, and one yen is equivalent to a certain amount of dollar. One dollar can be stored in the bank, change a certificate of deposit, and then the certificate of deposit can be changed into one dollar. It can be turned into a commercial or personal check and then into cash or deposit. When you travel, it can be changed into a traveler's check in yen or euro. If you have to pay for sandwiches, the sandwich shop also charges because the money can be converted into something else. It's a wonderful circular balance.
10.
Vicat is a kind of network virtual currency term created by the government, which is suspected of pyramid scheme fraud. Vicat is not only a cryptocurrency, but also creates an overall concept and system in order to make it successful and unique
Vicat is the second generation of cryptocurrency after bitcoin. It inherits the wealth value-added attribute of bitcoin, but it also has innovative financial thinking and ideas. Its value-added speed is faster than bitcoin, and its scarcity ensures the overall stable upward price trend of the currency without a large amount of hot money
onecoin started at the end of August and entered China in the middle of September. The more difficult it is to mine, the more money it will find - the higher the price of money. The price of money mined by the early miners is lower (because of the low difficulty), and they will sell it at a high price in the future to make profits
if you are a pure investment member, you are recommended to buy Daheng Rongji, get 60000 tokens for free, and get an additional 6000 tokens, worth 600 euros
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after an investor purchases an account, he will get the corresponding token, and he can get the corresponding Vicat return by "mining" with the token
in the future, the company's business will spread all over the world, achieving the goal of more than 1 million dealers and 2.1 billion Vicat coins
Vicat is more than a cryptocurrencyin order to make it successful and unique, Vicat has created an overall concept and system, so that Vicat can become a leader in the field of cryptocurrency
Vicat Hong Kong Branch was established in Tsim Sha Tsui, Kowloon, Hong Kongis another major office after Europe and Du
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