Here's about bitcoin and the Trojan horse
Publish: 2021-04-24 15:29:04
1.
bitcoin uses SHA-256 encryption algorithm. When mining, it competes with computing power. In order to improve computing power, bitcoin has gone through four stages: CPU mining, GPU mining, FPGA mining and now ASIC mining machine mining, and the degree of specialization is getting higher and higher
Ethereum uses the ethash encryption algorithm. In the process of mining, it needs to read the memory and store the DAG file. Because the bandwidth of each read memory is limited, and the existing computer technology is difficult to have a qualitative breakthrough in this problem, so no matter how to improve the computing efficiency of the computer, the memory read efficiency will not be greatly improved. Therefore, in a sense, Ethereum's ethash encryption algorithm is ASIC resistant.
different encryption algorithms lead to great differences in mining equipment and computing power between bitcoin and Ethereum
at present, bitcoin mining equipment is mainly ASIC mining machine with a very high degree of specialization. The maximum computing power of a single mining machine is 110t / s, and the scale of computing power of the whole network is more than 120eh / s
the main mining equipment of Ethereum is video card miner, and there are very few specialized ASIC miner. On the one hand, the "ASIC resistance" of Ethereum mining algorithm improves the threshold of developing ASIC miner. On the other hand, after Ethereum is upgraded to 2.0, the consensus mechanism will be transformed into POS, and the miner can not continue mining
compared with the ASIC miner, the graphics card miner has two orders of magnitude difference in computing power. At present, the computing power of mainstream graphics card miner (8 cards) is about 420mh / s, and that of Ethereum is about 230th / s.
from the time dimension of the past two years, bitcoin's computing power of the whole network is growing rapidly, while Ethereum's computing power of the whole network is growing relatively slowly
The ASIC mining machine of 
bitcoin is monopolized by several major mining machine manufacturers, and miners can only buy it from the market; Although the graphics card miner of Ethereum is also manufactured by a special miner, the miner can buy accessories from the market and assemble them according to his own demand
2. To tell you the truth, it's a waste of time
3.
As far as I know, there are probably two ways to obtain bitcoin. One is to use assets such as cash to trade with other bitcoin users. Generally speaking, the value of assets is determined according to the market value of bitcoin. However, the market value of bitcoin fluctuates a lot, and there may be hackers on the trading platform, so there may be some risks in this way
So if you want to get bitcoin by mining, you need a computer with high performance and a lot of manpower to maintain it. All in all, acquiring bitcoin is an investment and needs to be managed reasonably< br />4. Although I own BTS x, I am against Ethereum's money collection! A 3W bitcoin without any procts, ha ha ha, just go
5. 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.
6. In 018, the explosive development of blockchain technology was much like the Internet in 1997. I believe that the development of blockchain technology will certainly be faster than the Internet. If you don't take in some knowledge of blockchain, maybe you will fall behind an era. This article will answer several questions about bitcoin
question 1: how was bitcoin born
on November 1, 2008, a person who called himself Satoshi Nakamoto posted a statement on micro v-bq Er Wu Ba y on a secret cryptography review group (cryptopunk), stating his new idea of e-money bitcoin
question 2: how to proce bitcoin
bitcoin network generates new bitcoin through "mining". In essence, the so-called "mining" is to solve a complex mathematical problem with a computer to ensure the micro v-bq consistency of the bitcoin network distributed accounting system. Bitcoin generates a block every 10 minutes, which contains all the transaction information in the past 10 minutes. Whoever can work out the figures will get the right to keep accounts. After obtaining the accounting right, it will broadcast and store to the whole network. It's uncertain who gets the bookkeeping right. Of course, the stronger your computing ability is, the higher the probability of getting the bookkeeping right is. Then the bitcoin network will generate a certain amount of bitcoin as a reward to reward those who have the right to keep accounts
question 3: what are the characteristics of bitcoin
it is impossible to control the number of issues without a fully decentralized issuing institution. Bitcoin does not need a third-party organization, and it is a peer-to-peer transaction with mutual trust. The establishment of trust is no longer based on large institutions, but on cryptography and code. Bitcoin can be managed on any computer connected to the Internet. No matter where you are, anyone can dig, buy, sell or collect bitcoin. The private key is needed to control bitcoin. It can be stored in any storage medium in isolation, and no one can get it except the user himself. As a means of payment from a to B, bitcoin has no cumbersome limit of quota and proceres. You can pay when you know the address of the other party's bitcoin
question 4: can bitcoin be imitated
it is difficult for the cat to survive. Because bitcoin algorithm is completely open source, anyone can download the source code, modify some parameters, recompile, and create a new P2P currency. However, these counterfeit currencies are vulnerable to 51% attacks. Any indivial or organization, as long as it controls 51% of the computing power of a P2P currency network, can manipulate transactions and currency value at will, which will be a devastating blow to P2P currency. Many Shanzhai coins die in this link. The bitcoin network is robust enough. If you want to control 51% of the computing power of the bitcoin network, the number of CPUs / GPUs required will be astronomical
question 5: why is the total amount of bitcoin 21 million
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. And so on. According to its design principle, the total amount of bitcoin will continue to grow until it reaches 21 million more than 100 years later. However, the growth rate of bitcoin micro v-bq in the later period will be very slow. In short, bitcoin proction is halved every four years, and currently 12.5 bitcoins are proced every 10 minutes. In fact, 87.5% of bitcoin will be "g up" in the first 12 years. Moreover, 21 million is only theoretical data. In reality, e to the neglect of bitcoin in the early stage, many bitcoins were lost
question 6: what are the benefits of bitcoin miners
first of all, bitcoin will be rewarded directly after obtaining the bookkeeping right through calculation. But according to bitcoin's rules, as time goes on, the rewards will be less and less. In the future, the income will mainly come from the service charge generated by bitcoin transaction
question 7: why can't bitcoin be modified
for example, if a and B trade, a needs to pay B 100 bitcoins. But if a wants to default, he just wants to pay B a bitcoin. According to the rules of bitcoin, he has to obtain the bookkeeping right of the next 10 minute micro v-bq Er Wu Ba y before he can modify it; Similarly, he has to get another 10 minutes of bookkeeping rights, and so on. So modification is almost impossible
question 8: bitcoin transaction rate
theoretically, the bitcoin transaction rate is 7 transactions per second. In fact, bitcoin currently trades at only one transaction per second
question 9: why does bitcoin have such a strong vitality
if bitcoin is compared to a company, then it has no board of shareholders, board of directors, management, strict leadership, HR, Department Manager, staff, operating site and income. However, bitcoin has been running successfully for nine years without any problems, and its market value is hundreds of billions. The operation of the network relies on a set of mathematical algorithms, incentive mechanism and community for management and governance
question 10: what are the problems facing bitcoin
first, the transaction confirmation time is long. When bitcoin wallet is first installed with micro v-bq-y, it will consume a lot of time to download historical transaction data blocks. While bitcoin transaction, in order to confirm the accuracy of data, it will take some time to interact with P2P network, and the transaction will be completed only after the whole network is confirmed
Second, the public does not understand the principle, and the traditional financial practitioners resist. People who understand the principle know that bitcoin is not manipulated and controlled by a legal person. But the public doesn't understand, and many people can't even tell the difference between bitcoin and q-coin“ "No issuer" is the advantage of bitcoin, but in the view of traditional financial practitioners, "no issuer" currency is worthless.
question 1: how was bitcoin born
on November 1, 2008, a person who called himself Satoshi Nakamoto posted a statement on micro v-bq Er Wu Ba y on a secret cryptography review group (cryptopunk), stating his new idea of e-money bitcoin
question 2: how to proce bitcoin
bitcoin network generates new bitcoin through "mining". In essence, the so-called "mining" is to solve a complex mathematical problem with a computer to ensure the micro v-bq consistency of the bitcoin network distributed accounting system. Bitcoin generates a block every 10 minutes, which contains all the transaction information in the past 10 minutes. Whoever can work out the figures will get the right to keep accounts. After obtaining the accounting right, it will broadcast and store to the whole network. It's uncertain who gets the bookkeeping right. Of course, the stronger your computing ability is, the higher the probability of getting the bookkeeping right is. Then the bitcoin network will generate a certain amount of bitcoin as a reward to reward those who have the right to keep accounts
question 3: what are the characteristics of bitcoin
it is impossible to control the number of issues without a fully decentralized issuing institution. Bitcoin does not need a third-party organization, and it is a peer-to-peer transaction with mutual trust. The establishment of trust is no longer based on large institutions, but on cryptography and code. Bitcoin can be managed on any computer connected to the Internet. No matter where you are, anyone can dig, buy, sell or collect bitcoin. The private key is needed to control bitcoin. It can be stored in any storage medium in isolation, and no one can get it except the user himself. As a means of payment from a to B, bitcoin has no cumbersome limit of quota and proceres. You can pay when you know the address of the other party's bitcoin
question 4: can bitcoin be imitated
it is difficult for the cat to survive. Because bitcoin algorithm is completely open source, anyone can download the source code, modify some parameters, recompile, and create a new P2P currency. However, these counterfeit currencies are vulnerable to 51% attacks. Any indivial or organization, as long as it controls 51% of the computing power of a P2P currency network, can manipulate transactions and currency value at will, which will be a devastating blow to P2P currency. Many Shanzhai coins die in this link. The bitcoin network is robust enough. If you want to control 51% of the computing power of the bitcoin network, the number of CPUs / GPUs required will be astronomical
question 5: why is the total amount of bitcoin 21 million
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. And so on. According to its design principle, the total amount of bitcoin will continue to grow until it reaches 21 million more than 100 years later. However, the growth rate of bitcoin micro v-bq in the later period will be very slow. In short, bitcoin proction is halved every four years, and currently 12.5 bitcoins are proced every 10 minutes. In fact, 87.5% of bitcoin will be "g up" in the first 12 years. Moreover, 21 million is only theoretical data. In reality, e to the neglect of bitcoin in the early stage, many bitcoins were lost
question 6: what are the benefits of bitcoin miners
first of all, bitcoin will be rewarded directly after obtaining the bookkeeping right through calculation. But according to bitcoin's rules, as time goes on, the rewards will be less and less. In the future, the income will mainly come from the service charge generated by bitcoin transaction
question 7: why can't bitcoin be modified
for example, if a and B trade, a needs to pay B 100 bitcoins. But if a wants to default, he just wants to pay B a bitcoin. According to the rules of bitcoin, he has to obtain the bookkeeping right of the next 10 minute micro v-bq Er Wu Ba y before he can modify it; Similarly, he has to get another 10 minutes of bookkeeping rights, and so on. So modification is almost impossible
question 8: bitcoin transaction rate
theoretically, the bitcoin transaction rate is 7 transactions per second. In fact, bitcoin currently trades at only one transaction per second
question 9: why does bitcoin have such a strong vitality
if bitcoin is compared to a company, then it has no board of shareholders, board of directors, management, strict leadership, HR, Department Manager, staff, operating site and income. However, bitcoin has been running successfully for nine years without any problems, and its market value is hundreds of billions. The operation of the network relies on a set of mathematical algorithms, incentive mechanism and community for management and governance
question 10: what are the problems facing bitcoin
first, the transaction confirmation time is long. When bitcoin wallet is first installed with micro v-bq-y, it will consume a lot of time to download historical transaction data blocks. While bitcoin transaction, in order to confirm the accuracy of data, it will take some time to interact with P2P network, and the transaction will be completed only after the whole network is confirmed
Second, the public does not understand the principle, and the traditional financial practitioners resist. People who understand the principle know that bitcoin is not manipulated and controlled by a legal person. But the public doesn't understand, and many people can't even tell the difference between bitcoin and q-coin“ "No issuer" is the advantage of bitcoin, but in the view of traditional financial practitioners, "no issuer" currency is worthless.
7. Well, you have so many questions
mining is a process of consuming computing resources to process transactions, ensuring network security and keeping everyone's information synchronized in the network. It can be understood as the data center of bitcoin. The difference lies in its completely decentralized design. Miners operate all over the world, and no one can control the network. This process is called "mining" because it is similar to gold panning, because it is also a temporary mechanism for issuing new bitcoin. However, unlike gold panning, bitcoin mining provides rewards for services that ensure the safe operation of payment networks. After the last bitcoin, mining is still necessary. At present, mining is a very professional work, you need to buy a professional ASIC Avalon 3 generation miner for mining, and also need to join a mine pool
bitcoin is decentralized and not issued and controlled by any institution. Only bitcoin foundation is responsible for development and maintenance. The ore is free, but the equipment needs to be purchased. The exchange rate is high, which is a kind of trust in the bitcoin. It's a big social experiment. As long as you dig bitcoin, you won't worry about spending it. At present, thousands of businesses accept bitcoin around the world, such as the famous Dell company. There are also some businesses that accept bitcoin in China.
mining is a process of consuming computing resources to process transactions, ensuring network security and keeping everyone's information synchronized in the network. It can be understood as the data center of bitcoin. The difference lies in its completely decentralized design. Miners operate all over the world, and no one can control the network. This process is called "mining" because it is similar to gold panning, because it is also a temporary mechanism for issuing new bitcoin. However, unlike gold panning, bitcoin mining provides rewards for services that ensure the safe operation of payment networks. After the last bitcoin, mining is still necessary. At present, mining is a very professional work, you need to buy a professional ASIC Avalon 3 generation miner for mining, and also need to join a mine pool
bitcoin is decentralized and not issued and controlled by any institution. Only bitcoin foundation is responsible for development and maintenance. The ore is free, but the equipment needs to be purchased. The exchange rate is high, which is a kind of trust in the bitcoin. It's a big social experiment. As long as you dig bitcoin, you won't worry about spending it. At present, thousands of businesses accept bitcoin around the world, such as the famous Dell company. There are also some businesses that accept bitcoin in China.
8. What are the recommended digital currency licenses
austrac license in Australia, MSB license in Canada, MTR license in Estonia, big MSB license in the United States are all high-quality licenses with high recognition and high cost
austrac license in Australia is a digital currency license with high gold content, which is recognized by both exchanges and investors, and the column of the business scope of the license is "digital currency exchange provider"
is the more expensive the digital currency license, the better
of course not. Australia is one of the world's major financial centers. It is difficult to think that the gold content of the digital currency license issued by Australia is not high. However, the application fee of the digital currency license issued by many countries with less developed finance is much higher than that of Australia. Therefore, the application for a license can not only depend on the application fee, but also on the gold content, fame, recognition and other aspects of the license
how much does it cost to apply for austrac license in Australia
of course, we need to find a professional agent. Austrac in Australia is very cost-effective in digital currency licensing. By the way, Matcha first applied for the Estonian license, then applied for the MSB license in the United States, and then the austrac license in Australia came down. Some time ago, it applied for the VFQ license in Switzerland, and then it applied for the boutique license series
what information do you need to apply for austrac license in Australia<
1 provide the director's certificate (ID card or passport + address certificate)
2 provide the director's certificate of no criminal record (local police station can provide it, you can apply for the electronic file online ring the epidemic period, you don't need to go out, foreigners are similar)
3 register the Australian company first, so you need a company name (there is no special requirement for the name, At least a few names need to be changed because they may have plicate or too similar names.)
austrac license in Australia, MSB license in Canada, MTR license in Estonia, big MSB license in the United States are all high-quality licenses with high recognition and high cost
austrac license in Australia is a digital currency license with high gold content, which is recognized by both exchanges and investors, and the column of the business scope of the license is "digital currency exchange provider"
is the more expensive the digital currency license, the better
of course not. Australia is one of the world's major financial centers. It is difficult to think that the gold content of the digital currency license issued by Australia is not high. However, the application fee of the digital currency license issued by many countries with less developed finance is much higher than that of Australia. Therefore, the application for a license can not only depend on the application fee, but also on the gold content, fame, recognition and other aspects of the license
how much does it cost to apply for austrac license in Australia
of course, we need to find a professional agent. Austrac in Australia is very cost-effective in digital currency licensing. By the way, Matcha first applied for the Estonian license, then applied for the MSB license in the United States, and then the austrac license in Australia came down. Some time ago, it applied for the VFQ license in Switzerland, and then it applied for the boutique license series
what information do you need to apply for austrac license in Australia<
1 provide the director's certificate (ID card or passport + address certificate)
2 provide the director's certificate of no criminal record (local police station can provide it, you can apply for the electronic file online ring the epidemic period, you don't need to go out, foreigners are similar)
3 register the Australian company first, so you need a company name (there is no special requirement for the name, At least a few names need to be changed because they may have plicate or too similar names.)
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