bitcoin | vibesoundtz.blogspot.com
Unlike most currencies, Bitcoin does not rely on a specific currency institution, which is generated by a large number of calculations based on a particular algorithm. The bit currency economy uses a distributed database of many nodes in the entire P2P network to confirm and record all transactions, And the use of cryptographic design to ensure that all aspects of currency circulation security. P2P de-centricity and the algorithm itself can ensure that the currency can not be manipulated by a large number of manufacturing bits. A cryptographic-based design allows a bit currency to be transferred or paid only by the real owner. This also ensures that the monetary ownership and circulation of the anonymity of the transaction. Bitcoin is the biggest difference from other virtual currencies, and its total number is very limited and has a strong scarcity. The monetary system has had no more than 10.5 million in four years, and the total number will be permanently limited to 21 million.
Bitcoin can be used to cash, can be converted into the currency of most countries. Users can use some coins to buy some virtual items, such as online games among the clothes, hats, equipment, etc., as long as someone accepts, you can also use the real currency to buy real life items.
West Virginia Democratic Senator Joe Manchin sent an open letter to the US federal government on February 26, 2014, hoping that the agency would be able to encourage illegal activities and disrupt the status of financial order Attention, and asked to take action as soon as possible to fully block the electronic currency.
On January 24, 2017, at 12:00 noon, China's three major units of currency platform began to collect transaction fees
development path
The outbreak of the global financial crisis in 2008, when someone was "in the Cong" of the famous name
Bitcoin
Bitcoin (2 photos)
Table a paper that describes the pattern of Bitcoin.
Compared with the legal currency, Bitcoin does not have a centralized issuer, but by the calculation of the network node generation, who are likely to participate in the manufacture of Bitcoin, and can be circulated around the world, you can access any Internet computer Trading, no matter where they are, anyone can dig, buy, sell or collect bit currency, and in the course of the transaction outsiders can not identify the user identity information. 2009, not by the central bank and any financial institutions control the birth of the bitcoin. Bitcoin is an "electronic money" consisting of a string of complex code generated by a computer. The new bitcores are manufactured by a preset process. As the total amount of Bitcoin increases, the speed of Sink making is slowed down , Until 2014 to reach the total limit of 21 million, the total amount of digging bitcover has more than 12 million.
When the Bitcoin into the mainstream media vision, the mainstream media will always ask some mainstream economists to analyze bit by bit. Previously, these analyzes were always focused on Bitcoin is not a scam. And now the analysis is always concentrated in the bitbell can become the mainstream of the future currency. And the focus of this debate is often concentrated in the defensive characteristics of Bitcoin.
A lot of Bitcoin players are attracted by bit by bit. In contrast to the attitude of Bitcoin players, economists have polarized their attitude towards the fixed amount of $ 21 million.
Keynesian economists believe that the government should actively regulate the total amount of money, with monetary policy to tighten the economy for the timely refueling or braking. Thus, they argue that the fixed amount of coins in the total amount of money is sacrificable for regulation, and worse, it will inevitably lead to deflation and thus harm the economy as a whole. The Austrian school of economists' views are diametrically opposed, and they argue that the government's intervention in money is as good as possible, and that the deflation of the total amount of money is no big deal, and even a sign of social progress.
The peer currency network generates "new bits" by "mining". The so-called "mining" is essentially a computer to solve a complex mathematical problems, to ensure that the coin network distributed accounting system consistency. Bitcoin network will automatically adjust the difficulty of mathematical problems, so that the entire network about every 10 minutes to get a qualified answer. Then the Bitcoin network will generate a certain amount of Bitcoin as a reward, reward the person who gets the answer.
2009 when the birth of Bitcoin, each reward is 50 Bitcoin. After the birth of 10 minutes, the first batch of 50 bit coins generated, and this time the total amount of money is 50. The bitcoin then grows at about 50 per 10 minutes. When the total reaches 10.5 million (21 million 50%), the reward is halved to 25. When the total reached 15.75 million (new output of 525 million, or 1050 50%), the reward and then half to 12.5.
First of all, according to its design principles, the total amount of Bitcoin will continue to grow until 100 years later reached 21 million that day. But the proportion of the total amount of Bitcoin currency growth will be very slow. In fact, 87.5% of the bitcoin will be "dug" in the first 12 years. So from the monetary point of view, Bitcoin will not reach a fixed amount, the total amount of money will be constantly expanding, although the speed is getting slower and slower. So it looks like the currency seems to be the currency of inflation.
But to determine whether the deflation or expansion, not based on the total amount of money is reduced or increased, but to see the overall price level is down or rising. The overall rise in prices is inflation, otherwise deflation. In the long run, the issuance mechanism of Bitcoin determines that its total monetary growth will be much lower than the growth rate of social wealth.
Economists at the Keynesian school argue that falling prices will make people tend to postpone consumption because they can buy more of the same money tomorrow. Reduce the willingness to consume and further lead to the shrinking demand, the slow sales of goods, so that prices become lower, into the "deflation spiral" vicious cycle. Similarly, the deflationary currency, even if not in the bank itself can appreciate (purchasing power more and more strong), people's investment will increase, social production will fall into a downturn. [5] So Bitcoin is a currency with deflationary tendencies. In Bitcoin economies, commodity prices priced in Bitcoin will continue to fall.
Bitcoin is a network of virtual currency, a limited number, but can be used to cash: can be converted into the currency of most countries. You can use Bitcoin to buy some virtual items, such as online games among the clothes, hats, equipment, etc., as long as someone accepts, you can also use the bit to buy real life items.
September 9, 2014, the US electricity giant eBay announced that the company's payment processing subsidiary Braintree will begin to accept Bitcoin payment. The company has partnered with the Bitcoin trading platform Coinbase to begin accepting this relatively new payment method.
While the eBay Marketplace and PayPal business do not accept Bitcoin payments, Braintree customers such as the Travel House Leasing Community Airbnb and Car Rental Service Uber will begin to accept this virtual currency. Braintree's main business is for enterprises to provide payment processing software, the company last year by eBay to about 800 million US dollars to buy.
On the evening of January 22, 2017, the currency bank, the Bitcoin China and the OKCoin Bank Bank announced in their respective official website that in order to further curb speculation and prevent the price volatility, the platform will be held at 12:00 on January 24, 2017, 00 starting to receive transaction service fees, service fees by 0.2% of the turnover rate fixed rate charged, and active and passive transaction rate consistent. May 5, OKCoin currency line of the latest data show that the price of Bitcoin has just re-read the history, as of the highest before the press hit a high of 9222 points.
Founder
Kyoto University professor of mathematics Mochizuki new one
Kyoto University professor of mathematics Mochizuki new one
On November 1, 2008, a man claiming to be Satoshi Nakamoto posted a seminar on a secret cryptographic review group, presenting his new ideas for electronic money - Bitcoin was available , The first deal of Bitcoin is completed. Bitcoin exposes the distribution of the general ledger to the constraints of the third party, which is known as the "regional chain". Users are willing to dedicate the CPU computing power, run a special software to do a "digger", which will constitute a network together to maintain the "regional chain." In the process, they will also generate new money. The sale is also extended on this network, the operation of the computer to solve the truth of the computer irreversible problem, these problems include several trading data. The first "miners" to deal with the problem will be 50% cash reward, the relevant trading area to join the chain. With the addition of the number of miners, the difficulty of each puzzle also progressed, keeping the productivity of the bitcover in each trading area for about 10 minutes.
In 2009, Nakamoto designed a digital currency, that is, bit coins, surging bit market, and its founder "in the Cong" identity has always been a mystery, on the "peer currency "The rumors involved from the US National Security Agency to the financial experts, but also to the bit coins covered with a mysterious aura.
According to foreign media reports, computer scientist TedNelson Sunday released a video on the Internet, he has determined that the founder of Bitcoin is Kyoto University mathematics professor ShinichiMochizuki. The founder of Bitcoin has been using the pseudonym of Satoshi Nakamoto, and the Internet has also made a lot of speculation about its true identity. Nelson released the video that he had identified the new month is the real founder of Bitcoin.
Mochizuki new year 2013 because of the proof of ABC conjecture and fame. He studied at Philip Exeter College, one of the most prestigious high schools in the United States, and graduated just two years later. Wang Yue new 16 years old to enter the United States Princeton University, 22 years old when the identity of the school leave, 33 years old to become a professor, so young to get a professor name is extremely rare in academia. This math star may have broken one of the most important problems in the field.
Zhong Ben Cong own personal information left on the Internet, especially in recent years almost completely disappeared, so his life has become a fan. March 7, 2014, when the coin founder Dorian P · Zhong Cong was found in the news came out, quickly became the most attractive news on the Internet.
With the outside world speculation that it may be a fictional name different, "in the Cong" is a real name, he is a 64-year-old Japanese-American, he likes to collect the train model, has served large enterprises and the US military, engaged in confidential jobs. In the past 40 years, Zhong Cong Cong never lived in his real name. According to the archives of the Los Angeles District Court in 1973, when he graduated from California State Polytechnic University at the age of 23, he changed his name to Dorian PrenticeSatoshiNakamoto. Since then, he has no longer used the name "Cong", but with Dorian S (DorianS.Nakamoto) as a signature.
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