BITCOIN MEANING | vibesoundtz.blogspot.com
A lot of people are curious about bit coin. It is true that it is not easy to understand because there is a lot of technical contents to want to know something. There are several books on the "cryptocurrency" such as bit coin on the market. Among them, this book comes in. It is nice to see that it was written by a reporter. Not all, but a book written by a reporter is likely to have easily written complicated content with rich examples. This book, written by two reporters who have worked in the Wall Street Journal for more than 20 years, is one such book. From the origin of the coarse bit coin to the technological basis of the block chain (distributed technology), the ideology of 'decentralization' shared by the early members, the process of desire, acceptance, Show it in detail.
In 2009, a secret figure named Satoshi Nakamoto, the first virtual currency coin designed this algorithm, died over the past eight years. Despite the recent investment boom, it was worth five times over six months, but it was time to try again. Morgan Chase, chief executive officer of Wall Street, Jamie Daimon, JP (JP), said in a recent conference in New York, "Bitcoin is fraud." "It is worse than the Dutch tulip wind in the 17th century." Governments are also tightening the crackdown. China banned "virtual currency disclosure" (ICO), which raised virtual money earlier this month, and closed the Bitcoin Exchange. The bit coin value has been half naked in recent days.
Besides the beat coin, there is a virtual currency boom in the world with 1100 similar bit coins (altcoin). In Korea, the virtual money market has been continuing to raise hundreds of billions of won with its own block chain technology. All these virtual currencies can not be used as currency, so a lot of investors will make money. So I am worried about the money being poured into virtual money.
Speculation, however, may be telling the world's belief in the birth of a new currency and its technical potential. Speculation has been a catalyst in the history of technology development, just as the enthusiasm of Internet investment in the late '90s, when hundreds and hundreds of billions of dollars were crowded with the dot com, led to the birth of companies like Google, Amazon and Facebook.
In fact, if you think about what Bond currency is, there is no reason why a bit coin will not become money. The money we spend does not have much intrinsic value, but it is monetized because of the authority and trust that the central bank (government) has given. The value is only in people's minds. If people start to write virtual currency like bit coin, and do functions like value measure, storage, etc, it becomes money.
For people who think that the money system and the financial system should be changed in the digital age, bit coin is one of the process of finding the answer.
In a word, why this technology is excellent is that it leaves the infrastructure to deal with strangers, and makes the intermediaries unnecessary. The recording of books on the inside, which is the central role of a centralized financial institution, is replaced by an anonymous computer network. It creates a decentralized credit system that is not under the control of any institution. (...) These network-based bookkeeping techniques are called block chains
When the bit coin pursuing direct dealings without brokers is recognized as money, the hitting place to be hit will be the central bank that exclusively issued the currency, and monetary firms that generate credit, monopolize the brokerage, and pay fees. In fact, the central bank has monopolized monetary policy and has enjoyed a great deal of net worth, which is the difference between face value and issuance cost. In particular, the economic benefits of the United States, which operates key currencies from the world through the issuance of dollars, are enormous, and this is also the force that sustains the United States as an empire. Central banks and giant financial institutions have increased and decreased monetary aggregates and have regulated the economy. But virtual currency advocates like Bitcoin think that such a system is an obliteration to disappear. The 2008 financial crisis is a good example of such a system.
In this sense, virtual money does not only mean a rise or a fall in price in the digital money market. It does not mean that it is only a new exchange unit to replace the dollar, euro, and yen. It means that people are no longer a scapegoat in a centralized credit system. We are talking about a wonderful future that will return the power of the center, such as banks, governments, lawyers and the Afghanistan's chiefs,
Of course, Bitcoin is limited to 21 million coins, and it is unlikely that banks will generate credit as before, which could lead to deflation in the economy. It does not completely prevent hacking as it was on the exchange market. However, virtual money technology is evolving competitively, including 'Etherum', which has a contract function with bit coin that was only exchangeable and remitable. The transaction and remittance function alone gives hope to about 2.5 billion people in Africa, Asia, and other major industrialized countries. Those banks that are not around or are so poor that they can not use the bank are fortunate to have cell phones these days. They have installed simple apps on their mobile phones to cross the border and exchange small amounts of money.
In 2009, a secret figure named Satoshi Nakamoto, the first virtual currency coin designed this algorithm, died over the past eight years. Despite the recent investment boom, it was worth five times over six months, but it was time to try again. Morgan Chase, chief executive officer of Wall Street, Jamie Daimon, JP (JP), said in a recent conference in New York, "Bitcoin is fraud." "It is worse than the Dutch tulip wind in the 17th century." Governments are also tightening the crackdown. China banned "virtual currency disclosure" (ICO), which raised virtual money earlier this month, and closed the Bitcoin Exchange. The bit coin value has been half naked in recent days.
Besides the beat coin, there is a virtual currency boom in the world with 1100 similar bit coins (altcoin). In Korea, the virtual money market has been continuing to raise hundreds of billions of won with its own block chain technology. All these virtual currencies can not be used as currency, so a lot of investors will make money. So I am worried about the money being poured into virtual money.
Speculation, however, may be telling the world's belief in the birth of a new currency and its technical potential. Speculation has been a catalyst in the history of technology development, just as the enthusiasm of Internet investment in the late '90s, when hundreds and hundreds of billions of dollars were crowded with the dot com, led to the birth of companies like Google, Amazon and Facebook.
In fact, if you think about what Bond currency is, there is no reason why a bit coin will not become money. The money we spend does not have much intrinsic value, but it is monetized because of the authority and trust that the central bank (government) has given. The value is only in people's minds. If people start to write virtual currency like bit coin, and do functions like value measure, storage, etc, it becomes money.
For people who think that the money system and the financial system should be changed in the digital age, bit coin is one of the process of finding the answer.
In a word, why this technology is excellent is that it leaves the infrastructure to deal with strangers, and makes the intermediaries unnecessary. The recording of books on the inside, which is the central role of a centralized financial institution, is replaced by an anonymous computer network. It creates a decentralized credit system that is not under the control of any institution. (...) These network-based bookkeeping techniques are called block chains
When the bit coin pursuing direct dealings without brokers is recognized as money, the hitting place to be hit will be the central bank that exclusively issued the currency, and monetary firms that generate credit, monopolize the brokerage, and pay fees. In fact, the central bank has monopolized monetary policy and has enjoyed a great deal of net worth, which is the difference between face value and issuance cost. In particular, the economic benefits of the United States, which operates key currencies from the world through the issuance of dollars, are enormous, and this is also the force that sustains the United States as an empire. Central banks and giant financial institutions have increased and decreased monetary aggregates and have regulated the economy. But virtual currency advocates like Bitcoin think that such a system is an obliteration to disappear. The 2008 financial crisis is a good example of such a system.
In this sense, virtual money does not only mean a rise or a fall in price in the digital money market. It does not mean that it is only a new exchange unit to replace the dollar, euro, and yen. It means that people are no longer a scapegoat in a centralized credit system. We are talking about a wonderful future that will return the power of the center, such as banks, governments, lawyers and the Afghanistan's chiefs,
Of course, Bitcoin is limited to 21 million coins, and it is unlikely that banks will generate credit as before, which could lead to deflation in the economy. It does not completely prevent hacking as it was on the exchange market. However, virtual money technology is evolving competitively, including 'Etherum', which has a contract function with bit coin that was only exchangeable and remitable. The transaction and remittance function alone gives hope to about 2.5 billion people in Africa, Asia, and other major industrialized countries. Those banks that are not around or are so poor that they can not use the bank are fortunate to have cell phones these days. They have installed simple apps on their mobile phones to cross the border and exchange small amounts of money.
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