比特币第一代区块链,比特币第一个区块

比特币第一代区块链是一个历史性的里程碑，它的出现标志着一个全新的时代的开始，也为金融行业带来了巨大的改变。比特币第一代区块链开创了一个完全去中心化的金融系统，它的出现为金融行业带来了新的发展机遇，同时也引发了一系列的变革。本文将简要介绍比特币第一代区块链以及它的三个关键词：区块链技术、P2P网络、去中心化金融系统。

区块链技术

区块链技术是比特币第一代区块链的核心，它是一种分布式账本技术，可以记录所有发生在网络上的交易，并使用密码学技术保证所有交易的安全性和完整性。区块链技术的最大优势在于它能够实现完全去中心化的交易，它不需要任何中间机构来协调和管理，也不需要信任任何第三方机构，只需要全网共识就可以实现交易的安全性和完整性。

P2P网络

P2P网络是比特币第一代区块链的基础架构，它是一个去中心化的网络，由节点组成，每个节点都相互连接，可以相互传输数据和信息。P2P网络的优势在于它不会出现单点故障，即使某个节点发生故障，网络仍然可以继续运行，不会影响网络的正常运行。此外，P2P网络还可以抵御攻击，因为攻击者无法攻击整个网络，只能攻击单个节点，这样就可以保证网络的安全性。

去中心化金融系统

去中心化金融系统是比特币第一代区块链的最终目标，它是一种完全去中心化的金融系统，可以实现安全、透明、快速的金融交易。去中心化金融系统的最大优势在于它不需要任何中间机构来协调和管理，也不需要信任任何第三方机构，只需要全网共识就可以实现交易的安全性和完整性。此外，去中心化金融系统还可以实现跨境支付，可以大大提高金融交易的效率，减少金融交易所需的时间和成本。

总之，比特币第一代区块链的出现标志着一个全新的时代的开始，它的核心技术是区块链技术，基础架构是P2P网络，最终目标是去中心化金融系统。它的出现为金融行业带来了新的发展机遇，同时也引发了一系列的变革。

请查看相关英文文档

❶ When did Bitcoin start?

Bitcoin is a digital cryptocurrency based on blockchain technology. It was first proposed at the end of 2008. Anonymous comments in the forum. A person on the forum who calls himself "Satoshi Nakamoto" published a paper titled "Bitcoin: A Peer-to-Peer Electronic Cash System", proposing the core concept of Bitcoin. and basic principles. After that, Satoshi Nakamoto started the development of Bitcoin and officially launched the Bitcoin network on January 3, 2009. Therefore, it can be said that the real start of Bitcoin was January 3, 2009.

❷ What exactly is blockchain

Let’s talk about some basic concepts first.

The network said that blockchain is a new usage model of computer technologies such as distributed data storage, point-to-point transmission, consensus mechanisms, and encryption algorithms. It is essentially a decentralized database, and as the underlying technology of Bitcoin, it is a series of data blocks generated by cryptography.

We try to translate "what is blockchain" into "human language".

The definition refers to the "decentralized database" nature of blockchain3354. This is very different from the traditional "centralized database" in storage, update and operation.

A centralized database can be thought of as having this shape:

For example, if I want to use Alipay to pay a Taobao seller, all data requests from when I make money to when he receives the money will be centrally processed by Alipay. The advantage of this data structure is that as long as Alipay is responsible for the efficient and safe operation of the system, others can unconditionally believe it without worrying; the disadvantage is that if there is a problem with Alipay, such as being hacked, the server being burned, a traitor appearing, and the company running away (Of course, the possibility of the above is extremely low), the balance details and other information in our Alipay will be confused.

Then some people think that this kind of low-probability event can use any technical means to avoid individual risks, and not only hand over the data to a centralized organization. For example, everyone can store and process data.

The database structure may look like this:

This picture is a schematic structural diagram of a "distributed database". Each point is a server, they all have equal rights to record and calculate data, and information is spread point-to-point. At first glance, it seems that it can indeed resist the risk caused by the crash of a certain node, but it is also very confusing and inefficient intuitively. Who will handle my information, and who has the final say on the outcome?

At this time, the "consensus mechanism" in the definition of blockchain comes into play. The consensus mechanism mainly "stipulates" the following things: who will process a data request (what qualifications are required); who will verify the results (to see if he has handled it well); how to prevent processors and verifiers from colluding with each other, etc.

Some people may like to be questioned when a "rule" is made. In order to form a stronger consensus, in addition to making the rules more reasonable, they must also be more attractive so that peopleInterested and motivated to participate in data processing work. This involves the incentive mechanism of the public chain. We will start again later when we discuss the classification of blockchain and the role of digital currencies.

When we hand over a transaction to a distributed network, there is also a "psychological threshold": there are so many nodes that can process information, and I don't know any of them (unlike Alipay, if it hurts me, I can go and file a lawsuit against it). They all have my data, why should I trust them?

At this time, encryption algorithm (the last descriptive word in the definition of blockchain) comes on stage.

In the blockchain network, the data requests we send will be encrypted according to cryptographic principles into a string of characters that the recipient cannot understand at all. Behind this encryption method is the support of a hash algorithm.

Hash algorithms can quickly convert any type of data into hash values. This change is one-way irreversible, deterministic, random, and anti-collision. Because of these characteristics, the person handling my data request could record the information for me, but they had no idea who I was or what I was doing.

So far, the working principle of the decentralized network has been introduced. But we seem to have overlooked one detail. The previous diagram is a net. Where are the pulleys and chains? Why do we call it blockchain?

To understand this matter, we need to clarify a few knowledge points first:

The previous picture is actually a "macro" database perspective, showing the basic rules and processes of the blockchain system for processing information. . And specifically at the "micro" data log level, we will find that the ledger is packaged, compressed, stored in blocks, and strung together in chronological order to form a "chain structure", like this:

Figure Each ring in can be regarded as a building block, and many links are linked together to form a blockchain. Blocks store data, unlike ordinary data storage: on a blockchain, the data in a later block contains the data in the previous block.

In order to academically explain the fields of each part of the data in the block, we tried to use a book metaphor to describe what a blockchain data structure is.

Usually, when we read a book, we read the first page, then the second and third pages. The spine is a physical existence that fixes the order of each page. Even if the book is scattered, the order of each numbered page can be determined.

Inside the blockchain, each block is marked with a page number, the second page contains the content of the first page, the third page contains the content of the first and second pages. The tenth page contains the previous Nine pages of content.

It is such a nested chain that can be traced back to the original data.

This brings up an important attribute of blockchain: traceability.

When the data in the blockchain needs to be updated, that is when new blocks are generated in sequence, the "consensus algorithm" comes into play again. This algorithm stipulates that a new block can only be formed if it is recognized by more than 51% of the nodes in the entire network. To put it bluntly, it is a matter of voting, and it can be elected if more than half of the people agree. This makes the data on the blockchain difficult to tamper with. If I want to force change, there will be too many people to bribe,The cost is too high and not worth it.

This is what people often call the "non-tamperable" feature of blockchain.

Another reason why blockchain gives people a sense of trust is because of "smart contracts."

Smart contracts are commitment agreements defined and automatically executed by computer programs. It is a set of transaction rules executed by code, similar to the current automatic repayment function of credit cards. If you turn on this function, you don’t have to worry about anything. The bank will automatically deduct the money you owe when it is due.

When your friend borrows money from you but doesn't remember to pay it back, or makes excuses not to pay it back, smart contracts can prevent breach of contract. Once the terms in the contract are triggered, such as when it is time to pay back the money, or there is a limit in his account, the code will automatically execute, and the money he owes you will be automatically transferred back whether he wants it or not.

Let’s briefly summarize. Blockchain technology is mainly decentralized, difficult to tamper with, and traceable, which represents more security and trustlessness. But it also brings new problems: redundancy and inefficiency, which requires many nodes to agree with the rules and actively participate.

This concludes the "drying" section. Next, let’s talk about unofficial history and the official history of blockchain.

A new technology is often used to serve a certain task.

Or goals. So where was blockchain first used, and who came up with it first?

Let's go back to 2008.

On September 21, Wall Street investment banks collapsed one after another, and the Federal Reserve announced that it would convert the only two remaining investment banks (Goldman Sachs Group and Morgan Stanley) into commercial banks; it hoped to survive the financial crisis by absorbing savings. On October 3, the Bush administration signed a $700 billion financial rescue package.

Twenty-eight days later, on November 1, 2008, a new post appeared in a cryptography mailing group: "I am developing a new electronic currency system that is completely peer-to-peer and does not require a third party. Three-party trust institution." The text of the post is a paper titled "Bitcoin: A Peer-to-Peer Electronic Cash System", signed by Satoshi Nakamoto.

The paper explains the design of this peer-to-peer electronic cash system with a more rigorous logic. It first discusses the problem that financial institutions are subject to "trust based" (based on credit), and then explains step by step how to achieve "no third-party agency" , and cleverly solved the technical problems left by the predecessors.

Two months later, Satoshi Nakamoto released the first version of the open source Bitcoin client and mined 50 Bitcoins for the first time. The block that generated the first batch of Bitcoins is called the "Genesis block". The genesis block was compiled into block 0 and was not uploaded to the chain. It took Satoshi Nakamoto 6 days to mine this block. This also sparked discussion in the bitcointalk forum. Bitcoin "believers" thought of the Bible, "God created the heavens and the earth in six days, and then rested on the seventh day."

Although decentralized does not appear in the paper(decentralization), token, economy and other concepts, but Satoshi Nakamoto explained in detail how blocks and chains work in the network. So, there is Block Chain.

This paper later became the "Bible" of the "Bit Cult", technology became the cornerstone of faith, and developer documentation became the "Code of Hammurabi".

After that, Bitcoin realized the first real-life payment by exchanging pizza, WikiLeaks, whose account was blocked by the US government, miraculously survived by relying on Bitcoin, Satoshi Nakamoto's "decentralization" and retirement, and the appearance of the real and the fake A series of legends such as and refutation of rumors, combined with the expectations, imagination and speculation of later generations, became "Bible stories".

There are also people who are not satisfied with the world described in the "Old Testament" and start new sects, write the doctrines into white papers, and tell the story of their faith in the ten years after Bitcoin. Just like the writing of the 66 books of the Bible spanned 1,500 years, and after 2,000 years of interpretation, Christianity has divided into 33,000 branches.

CoinMarketCap shows that there are more than 4,900 types of digital currencies, and the overall digital currency market size is nearly 140 million yuan. Bitcoin still leads the entire digital currency market with a market share of 66%, and the recent price has been hovering around US$7,200 per coin.

So many currencies have different functions and are divided into different categories: digital currencies represented by Bitcoin are positioned as "digital gold" and have certain value storage and hedging characteristics; Ethereum The digital currency represented by USDT and Libra has become the "operational fuel" in its network system; the stable currency represented by USDT and Libra has good payment properties due to its low volatility; the digital currency issued by the central bank represented by DCEP will definitely To a certain extent, it replaces M0, allowing commercial institutions and ordinary people to receive and pay without delay when they are out of cash and disconnected from the Internet.

It can be seen that after 10 years of development of blockchain technology, the first and largest application is digital currency.

Digital currency has also become an attractive reward for participants to maintain the public chain.

So besides digital currency, where else can blockchain technology be used?

Let us recall what the essence of blockchain is—a decentralized database, and its corresponding characteristics: traceability, publicity, anonymity, and tamper-proofing. In theory, you can try to use blockchain to transform traditional scenarios that use centralized databases to see if they are suitable.

Next, let’s talk about several industries and scenarios where blockchain has been successfully implemented:

Blockchain can prove the existence of a certain file or digital content at a specific time through hash timestamps, providing judicial authentication, Identity proof, property rights protection, anti-counterfeiting traceability, etc. provide perfect solutions

In the field of anti-counterfeiting traceability, blockchain technology can be widely used in various fields such as food and medicine, agricultural products, alcohol, and luxury goods through supply chain tracking.

Give two examples.

Blockchain can allow government data to be run and greatly streamline service processes

BlockchainDistributed technology allows government departments to be centralized on a chain, and all service processes are delivered to smart contracts. As long as the worker passes the identity authentication and electronic signature in one department, the smart contract can be automatically processed and transferred, and all subsequent approvals and approvals can be completed sequentially. signature.

Blockchain invoices are the earliest use of blockchain technology in China. The tax department launched the "Tax Chain" platform for blockchain electronic invoices. The tax department, the issuer, and the payee join the "Tax Chain" network through unique digital identities, truly realizing "instant invoicing for transactions" and "immediate reimbursement of invoices" - in seconds Level invoicing and minute-level reimbursement accounting greatly reduce tax collection and management costs, and effectively solve problems such as data tampering, over-reporting of one ticket, and tax evasion.

Poverty alleviation is another practical application of blockchain technology. Utilize the characteristics of openness, transparency, traceability, and non-tampering of blockchain technology to achieve transparent use, precise investment, and efficient management of poverty alleviation funds.

Give two examples as well.

The eID network identity operation agency guided by the Third Research Institute of the Ministry of Public Security is jointly developing a "digital identity chain" with Gongyilian, which will be issued to Chinese citizens based on the citizen's identity number as the root and cryptographic algorithm. Since it was put into operation, the eID digital identity system has served the full life cycle management of 100 million eIDs, effectively alleviating the problems of personal identity information being fraudulently used, abused and privacy leaked.

Odaily Planet Daily compiled 5 identity chain projects registered with the Cyberspace Administration of China

Blockchain technology naturally has financial attributes

In terms of payment and settlement, under the blockchain distributed ledger system, there are many markets Participants jointly maintain and synchronize a "general ledger" in real time. In just a few minutes, they can complete payment, clearing, and settlement tasks that currently take two or three days to complete, reducing the complexity and cost of cross-bank and cross-border transactions. At the same time, the underlying encryption technology of the blockchain ensures that participants cannot tamper with the ledger, ensuring that transaction records are transparent and safe. Regulators can easily track transactions on the chain and quickly locate high-risk capital flows.

In terms of securities issuance transactions, the traditional stock issuance process is long, costly and complex. Blockchain technology can weaken the role of underwriting institutions and help all parties establish a fast and accurate information exchange and sharing channel. The issuer can handle the issuance on its own through smart contracts. , regulatory authorities conduct unified review and verification, and investors can also bypass intermediaries for direct operations.

In terms of digital bills and supply chain finance, blockchain technology can effectively solve the financing difficulties of small and medium-sized enterprises. It is difficult for current supply chain finance to benefit small and medium-sized enterprises in the upper reaches of the industrial chain, because they often do not have direct trade relations with core enterprises, and it is difficult for financial institutions to evaluate their credit qualifications. Based on blockchain technology, we can establish a consortium chain network covering core enterprises, upstream and downstream suppliers, financial institutions, etc. The core enterprises issue accounts receivable vouchers to their suppliers. After the bills are digitized and uploaded to the chain, they can be uploaded to the supplier Transfer between them, each level of supplier can realize the corresponding amount of financing with the digital bill certificate.

Give me an example.

China Enterprise Cloud Chain, jointly launched by ICBC, Postal Savings Bank of China, 11 central enterprises, etc., has been established since its establishment in 2017.It has covered 48,000 companies, with the on-chain rights confirmation amount reaching 100 billion yuan, factoring financing of 57 billion yuan, and cumulative transactions reaching 300 billion yuan. After receiving the loan application, financial institutions can verify the authenticity of the contract on the chain and whether the contract has been verified multiple times (multiple loans); the smart contract automatically clears and settles, reducing costs and increasing efficiency; at the same time, the accounts payable of core enterprises can have The corresponding vouchers will be split by the first-level suppliers and handed over to the second- and third-level suppliers in the chain to help them with financing; core enterprises can also use this to understand whether the entire chain is operating normally and avoid emergencies. Redemption pressure.

Blockchain technology will greatly optimize the existing use of big data and play a huge role in data circulation and sharing

The aforementioned areas are areas that we are relatively familiar with. As more new technologies develop, blockchain may be able to be combined with them and play a role in unexpected cross-fields and new scenarios that are currently unforeseen.

In the future, the Internet, artificial intelligence, and the Internet of Things will generate massive amounts of data. The existing centralized data storage (computing model) will face huge challenges. Edge storage (computing) based on blockchain technology is expected to become a future solution. Furthermore, the non-tampering and traceability mechanism of blockchain ensures the authenticity and high quality of data, which becomes the basis for the use of all data such as big data, deep learning, and artificial intelligence.

Finally, blockchain can realize multi-party collaborative data calculations while protecting data privacy, and is expected to solve the problems of "data monopoly" and "data islands" and realize the value of data circulation.

In response to the current blockchain development stage, in order to meet the blockchain development and use needs of general business users, many traditional cloud service providers have begun to deploy their own BaaS ("Blockchain as a Service") solutions. The combination of blockchain and cloud computing will effectively reduce enterprise blockchain deployment costs and promote the implementation of blockchain usage scenarios. In the future, blockchain technology will also play an important role in many fields such as charity, insurance, energy, logistics, and the Internet of Things.

During this trial process from traditional technology to blockchain, we found that when certain scenarios have stronger demands for traceability, tamper-proofing, and decentralization, they also have problems with the weaknesses of blockchain (such as performance). , the requirements are not high, and this field is quite suitable for combining blockchain.

At the same time, in the process of blockchain evolution, it has also developed from a highly decentralized public chain accessible to everyone to a consortium chain with different permissions and maintained by multiple centers. Balances the advantages and disadvantages of the two systems.

Typical examples of alliance chains include: FISCO BCOS jointly developed by WeBank and the Golden Alliance Open Source Working Group, Fabric, a major contribution from IBM, and Ant Alliance Chain led by Ant Blockchain, etc.

These trustless systems represent more secure data authentication and storage mechanisms, where data is effectively authenticated and protected. Businesses or individuals can exchange or enter into contracts digitally, where these contracts are embedded in code and stored in transparent, shared databases where they cannot be deleted, tampered with, or revised.

Bold predictions that contracts, audits, tasks, and payments in the future world will all be digitized with unique and secure signatures. Digital signatures will be permanently identified, authenticated, legalized, and stored, and cannot be tampered with. There is no need for an intermediary to guarantee each of your transactions. You can conduct transactions without knowing the basic information of the other party. While improving information security, it effectively reduces transaction costs and improves transaction efficiency.

Generally speaking, there has been a lot of progress in the implementation of blockchain compared to two years ago.

Many improvements are at the bottom of the system, and users cannot directly see that blockchain is used, but they have actually benefited from it; some applications are still in pilot mode, and users have not yet been able to experience it. In the future, blockchain is expected to be used on a large scale and become one of the Internet infrastructure.

I hope that after reading this, you have a general understanding of what blockchain is and what blockchain can do.

Related Q&A: What is blockchain

Blockchain is actually equivalent to a disintermediated database, which is composed of a series of data blocks. Each of its data blocks contains information about a Bitcoin network transaction, which is used to verify the validity of the information and generate the next block.

In a narrow sense, blockchain is a chain data structure that combines data blocks in a sequential manner in chronological order, and is cryptographically guaranteed to be non-tamperable and non-forgeable. distributed ledger.

In a broad sense, blockchain is actually a distributed infrastructure and computing method, which is used to ensure the security of data transmission and access.

Blockchain infrastructure:

Blockchain is composed of six infrastructures: data layer, network layer, consensus layer, incentive layer, contract layer and usage layer.

❸ When was Bitcoin born?

The concept of Bitcoin was first proposed by Satoshi Nakamoto on November 1, 2008, and was officially born on January 3, 2009. The open source software designed and released based on Satoshi Nakamoto's ideas and the P2P network built on it. Bitcoin is a P2P virtual encrypted digital currency. Peer-to-peer transmission means a decentralized payment system.
Unlike all currencies, Bitcoin does not rely on the issuance of a specific currency institution. It is generated through a large number of calculations based on a specific algorithm. The Bitcoin economy uses a distributed database composed of many nodes in the entire P2P network to confirm and record all transaction behavior, and uses cryptographic design to ensure the security of all aspects of currency circulation. The decentralized nature of P2P and the algorithm itself ensure that currency value cannot be artificially manipulated by mass production of Bitcoins. Design based on cryptography allows Bitcoin to be transferred or paid only by real owners. This also ensures the anonymity of currency ownership and circulation transactions. The biggest difference between Bitcoin and other virtual currencies is that its total quantity is very limited and it is extremely scarce.

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❹ What is the earliest blockchain Application

The first application is Bitcoin. Bitcoin is the first application of blockchain technology and the most successful application so far. Blockchain is a term in the field of information technology. Essentially, it is a shared database. The data or information stored therein has the characteristics of "unforgeable", "full traceability", "traceable", "open and transparent", and "collectively maintained". Based on these characteristics, blockchain technology has laid a solid foundation of "trust" and created a reliable "cooperation" mechanism, which has broad application prospects.
1. Blockchain itself is also an Internet protocol, so its basis is data. If there is no structured data in a scenario, or the cost of the data structure is high, you must consider whether it is suitable for a blockchain project. There are several so-called precision poverty alleviation blockchain projects, including supply chain traceability from seeds to tables, fertilizer testing, etc. How is the data entered? Do you have to rely on people to test one by one to enter? Do you track the amount of fertilizer from a detector buried in the earth?
2. There is a strong demand to confirm the authenticity of information in existing scenarios, whether the cost is high or low. Blockchain is essentially a value network, that is, data rights confirmation or authenticity confirmation. Then, whether there are strong authenticity confirmation requirements in the scenario to be applied becomes a necessary factor. For example, for a learning chain project, student evaluations and class status are tracked through blockchain. Is it necessary to use blockchain to address the authenticity of this data? Is blockchain more efficient or WeChat more convenient for word-of-mouth communication in the education market? Do I need to let others know the authenticity of my evaluation of the teacher? Is there a strong need for consensus in the existing scenario, recorded through distributed nodes? Blockchain records information through distributed ledgers and broadcasts it throughout the network, achieving large-scale network-wide consensus while ensuring data unification. So, is it necessary for many projects to adopt large-scale consensus? There is no necessary network-wide consensus. Is it hype or money? There are different opinions.
3. A project called an all-Japanese team but with only a Chinese version of the white paper claims to rent and buy houses in Japan through blockchain, which is done on a share basis, with reference to the ABS model. It claims to enable home sales and rent sharing through tokens. The number of tokens is certain, but in the future there will be more and more houses, and the rent will be higher and higher, so it will become more and more valuable. To put it bluntly, it is an equity crowdfunding project.
4. Whether there is a network effect in the application scenario and whether it conforms to the two-sided market model. The following network effect or two-sided market model theory refers to whether a project can play a positive role in improving the overall project as the number of users continues to increase. . The core value of the project isThe user's own network connection. Blockchain itself is a network protocol. Of course, without network effects, that's nonsense. A real-life example is an e-commerce platform. The more consumers there are on the platform, the more merchants there will be. The two-party model continues to promote and promote the healthy development of e-commerce platforms, while e-commerce companies manage both sides of the platform through payment methods such as Alipay to maintain the normal operation of the network.

❺ Who invented Bitcoin

The concept of Bitcoin (BitCoin) was first proposed by Satoshi Nakamoto in 2009. It is an open source design and release based on Satoshi Nakamoto’s ideas. software and the P2P network built on it. Bitcoin is a P2P form of digital currency. Peer-to-peer transmission means a decentralized payment system.

Unlike most currencies, Bitcoin does not rely on the issuance of a specific monetary institution. It is generated through a large number of calculations based on a specific algorithm. The Bitcoin economy uses a distributed database composed of many nodes in the entire P2P network to confirm All transactions are recorded, and cryptographic design is used to ensure the security of all aspects of currency circulation. The decentralized nature of P2P and the algorithm itself ensure that currency value cannot be artificially manipulated by mass production of Bitcoins. Design based on cryptography allows Bitcoin to be transferred or paid only by real owners. This also ensures the anonymity of currency ownership and circulation transactions. The biggest difference between Bitcoin and other virtual currencies is that its total quantity is very limited and it is extremely scarce. The currency system had no more than 10.5 million coins in 4 years, after which the total number will be permanently limited to 21 million coins.

Bitcoin can be cashed out and converted into the currencies of most countries. Users can use Bitcoin to purchase some virtual items, such as clothes, hats, equipment, etc. in online games. As long as someone accepts it, Bitcoin can also be used to purchase items in real life. [1][2]

On February 26, 2014, West Virginia Democratic Senator Joe Manchin issued an open letter to multiple regulatory agencies of the US federal government, hoping that relevant agencies could We pay attention to the fact that Bitcoin encourages illegal activities and disrupts financial order, and requires that action be taken as soon as possible to completely ban this electronic currency. [3]

Starting from 12:00 noon on January 24, 2017, China's three major Bitcoin platforms officially began to charge transaction fees. [4]

Chinese name

Bitcoin

Foreign name

Bitcoin

Type

Electronic currency

Circulation platform

Network

Concept founder

Satoshi Nakamoto

Development Chengcheng Tingyin

When the global financial crisis broke out in 2008,At that time, someone published a paper using the pseudonym "Satoshi Nakamoto" describing the Bitcoin model.

2 photos in total

Bitcoin

Compared with legal currency, Bitcoin does not have a centralized issuer, but is generated by the calculation of network nodes. Anyone can participate in the creation of Bitcoins, and they can be circulated around the world. They can be bought and sold on any computer connected to the Internet. No matter where they are, anyone can mine, buy, sell or receive Bitcoins, and trade them. During the process, outsiders cannot identify the user’s identity information. [2] In 2009, Bitcoin, which is not controlled by the central bank or any financial institution, was born. [2] Bitcoin is an “electronic currency” that consists of a series of complex codes generated by a computer. New Bitcoins are manufactured through a preset program. As the total amount of Bitcoins increases, the speed of new currency manufacturing slows down. , until reaching the total upper limit of 21 million in 2014, the total number of Bitcoins mined has exceeded 12 million. [2]

Whenever Bitcoin enters the mainstream media's field of vision, the mainstream media will always ask some mainstream economists to analyze Bitcoin. Early on, these analyzes always focused on whether Bitcoin was a scam. Today's analysis always focuses on whether Bitcoin can become the mainstream currency in the future. The focus of debate often focuses on the deflationary characteristics of Bitcoin. [5]

Many Bitcoin players are attracted by the fact that Bitcoin cannot be issued at will. In contrast to the attitudes of Bitcoin players, economists have polarized attitudes towards the fixed total supply of 21 million Bitcoins. [6]

Economists of the Keynesian school believe that the government should actively regulate the monetary aggregates and use the loosening and tightening of monetary policy to fuel or brake the economy in a timely manner. Therefore, they believe that Bitcoin’s fixed total currency sacrifices controllability, and what’s worse is that it will inevitably lead to deflation, thereby harming the overall economy. Austrian economists hold the opposite view. They believe that the less government intervention in currency, the better. Deflation caused by the fixed monetary aggregate is not a big deal, and is even a sign of social progress.

The Bitcoin network generates new Bitcoins through "mining." The so-called "mining" is essentially the use of computers to solve a complex mathematical problem to ensure the consistency of the distributed accounting system of the Bitcoin network. The Bitcoin network automatically adjusts the difficulty of math questions so that the entire network gets a qualified answer approximately every 10 minutes. The Bitcoin network will then generate a certain amount of Bitcoin as a bounty to reward those who get the answer.

When Bitcoin was born in 2009, each bounty was 50 Bitcoins. Ten minutes after its birth, the first batch of 50 Bitcoins was generated, and the total currency amount at this time was 50. Subsequently, Bitcoin increased at a rate of about 50 every 10 minutes. When the total amount reaches 10.5 million (50% of 21 million), the bounty is halved to 25. When the total reaches 15.75 million (new output5.25 million (i.e. 50% of 1050), the bounty is further halved to 12.5. [7]

First of all, according to its design principle, the total amount of Bitcoin will continue to grow until the day it reaches 21 million more than 100 years later. However, the total amount of Bitcoin currency will grow very slowly in the later period. In fact, 87.5% of all Bitcoins will be mined within the first 12 years. Therefore, from the perspective of the total amount of money, Bitcoin will not reach a fixed amount. In fact, its total amount of money will continue to expand, although the speed is getting slower and slower. So it seems that Bitcoin is an inflationary currency.

However, judging whether it is deflation or expansion does not depend on whether the total amount of money is decreasing or increasing, but on whether the overall price level is falling or rising. An increase in overall prices is inflation, and vice versa is deflation. In the long run, the issuance mechanism of Bitcoin determines that the growth rate of its total monetary volume will be much lower than the growth rate of social wealth.

Economists of the Keynesian school believe that continued decline in prices will make people tend to postpone consumption, because the same dollar can buy more things tomorrow. The reduction in willingness to consume has further led to shrinking demand and unsaleable goods, making prices even lower and entering a vicious cycle of "deflationary spiral". Similarly, deflationary currency can appreciate even if it is not deposited in the bank (purchasing power becomes stronger and stronger), people's willingness to invest will also increase, and social production will also fall into a downturn. [5] Therefore, Bitcoin is a currency with deflationary tendencies. In the Bitcoin economy, the prices of goods priced in Bitcoin will continue to fall. [1]

Bitcoin is an online virtual currency with a limited quantity, but it can be used for cash: it can be exchanged for the currencies of most countries. You can use Bitcoin to purchase some virtual items, such as clothes, hats, equipment, etc. in online games. As long as someone accepts it, you can also use Bitcoin to purchase items in real life. [1][1]

On September 9, 2014, the American e-commerce giant eBay announced that its payment processing subsidiary Braintree would begin accepting Bitcoin payments. The company has partnered with Bitcoin trading platform Coinbase to begin accepting this relatively new payment method.

Although the eBay marketplace and PayPal business do not yet accept Bitcoin payments, Braintree customers such as travel home rental community Airbnb and car rental service Uber will begin to accept the virtual currency. Braintree, whose main business is providing payment processing software to businesses, was acquired by eBay last year for about $800 million.

On the evening of January 22, 2017, Huobi, Bitcoin China and OKCoin successively issued announcements on their respective official websites, stating that in order to further curb speculation and prevent violent price fluctuations, each platform will From 12:00 noon on January 24thThe transaction service fee will begin to be charged. The service fee will be charged at a fixed rate of 0.2% of the transaction amount, and the rates for active transactions and passive transactions will be the same. [4] On May 5, the latest data from OKCoin showed that the price of Bitcoin had just refreshed history again, reaching a high of 9222 points as of press time. [8]

Founder of Wuting Voice

On November 1, 2008, a person claiming to be Satoshi Nakamoto posted on a secret cryptography comment group He wrote a research report describing his new idea of ​​electronic currency-Bitcoin was launched, and the first transaction of Bitcoin was completed. Bitcoin uses a publicly distributed ledger to get rid of the constraints of third-party institutions, which Satoshi Nakamoto calls a "regional chain." Users are willing to donate their CPU computing power and run a special software to be a "miner", which will form a network to jointly maintain the "regional chain". In the process, they will also generate new currencies. Transactions are also carried out on this network, and computers running this software can crack irreversible cryptographic problems, which contain multiple transaction data. The first "miner" to solve the problem will be rewarded with 50 Bitcoins, and the relevant transaction area will be added to the chain. As the number of "miners" increases, so does the difficulty of each puzzle, keeping the Bitcoin production rate per trading block at about 10 minutes.

Kyoto University Mathematics Professor Mochizuki Shinichi

In 2009, Satoshi Nakamoto designed a digital currency, Bitcoin. The booming Bitcoin market has gone up and down, and The identity of its founder "Satoshi Nakamoto" has always been a mystery. Rumors about the "Father of Bitcoin" involve everyone from the National Security Agency to financial experts, giving Bitcoin a mysterious halo.

According to foreign media reports, computer scientist Ted Nelson posted a video on the Internet on Sunday saying that he had determined that the founder of Bitcoin was Kyoto University mathematics professor Shinichi Mochizuki. The founder of Bitcoin has always used the pseudonym Satoshi Nakamoto, and there has been a lot of speculation about his true identity on the Internet. Nelson posted a video saying that he had determined that Mochizuki Shinichi was the true founder of Bitcoin. [9]

Mochizuki Shinichi became famous in 2013 for proving the ABC conjecture. He attended Phillips Exeter Academy in high school, one of the most prestigious high schools in the United States, graduating after just two years. Shinichi Mochizuki entered Princeton University in the United States at the age of 16, left the school with a Ph.D. at the age of 22, and became a full professor at the age of 33. It is extremely rare in academia to obtain the title of full professor at such a young age. The superstar of mathematics may have cracked one of the most important problems in the field.

Satoshi Nakamoto himself left very little personal information on the Internet, especially in recent years, he has almost completely disappeared, so his life experience is also unknown.Became a mystery. On March 7, 2014, when the news broke that the founder of Bitcoin, Dorian P. Satoshi Nakamoto, was found, it quickly became the most fascinating news on the Internet.

Unlike outside speculation that it may be a fictitious name, "Satoshi Nakamoto" is a real name. He is a 64-year-old Japanese-American who likes to collect model trains and once worked for a large company. and the U.S. military, doing classified work. For the past 40 years, Satoshi Nakamoto has never used his real name in life. According to 1973 files from the U.S. District Court in Los Angeles, when he graduated from California State Polytechnic University at the age of 23, he changed his name to Dorian Prentice Satoshi Nakamoto. Since then, he no longer uses the name "Song" and uses Dorian S. Nakamoto as his signature. [9]

Principle of production Listen to the voice

Starting from the essence of Bitcoin, the essence of Bitcoin is actually a special solution generated by a bunch of complex algorithms. A special solution refers to a set of infinite (in fact, Bitcoin is finite) solutions that can be obtained by a system of equations. And every special solution can solve the equation and is unique. [10] Using RMB as an analogy, Bitcoin is the serial number of RMB. Once you know the serial number on a certain banknote, you own the banknote. The mining process is to continuously seek special solutions to this system of equations through a huge amount of calculations. This system of equations is designed to have only 21 million special solutions, so the upper limit of Bitcoin is 21 million. [10]

Crazy Rise

To mine Bitcoin, you can download a dedicated Bitcoin computing tool, then register on various cooperative websites, and fill in the registered username and password into the calculation In the program, click Calculation to officially start. [11] After completing the Bitcoin client installation, you can directly obtain a Bitcoin address. When others pay, you only need to post the address to others, and you can make payments through the same client. After the Bitcoin client is installed, it will be assigned a private key and a public key. You need to back up your wallet data containing your private key to ensure that your property is not lost. If unfortunately the hard drive is completely formatted, one's Bitcoins will be completely lost.

Currency characteristics Listen to voice

Decentralization: Bitcoin is the first distributed virtual currency. The entire network is composed of users and there is no central bank. Decentralization is the guarantee of Bitcoin’s security and freedom.

Circulation around the world: Bitcoin can be managed on any computer connected to the Internet. Anyone can mine, buy, sell or receive Bitcoin regardless of location.

Exclusive ownership: Manipulating Bitcoin requires a private key, which can be isolated and stored on any storage medium. No one can obtain it except the user himselfPick.

Low transaction fees: It is free to remit Bitcoin, but there will ultimately be a transaction fee of approximately 1 bit cent per transaction to ensure faster transaction execution.

No hidden costs: As a means of payment from A to B, Bitcoin has no cumbersome limits and procedures. You can make the payment by knowing the other party's Bitcoin address.

Cross-platform mining: Users can explore the computing power of different hardware on many platforms.

Advantages

Completely decentralized. Without an issuing agency, it is impossible to control the issuance quantity. Its issuance and circulation are realized through the open source p2p algorithm.

Anonymous, tax-free, and regulatory-free.

Robustness. Bitcoin completely relies on the p2p network and has no issuance center, so the outside world cannot shut it down. The price of Bitcoin may fluctuate and collapse, and many governments may declare it illegal, but Bitcoin and Bitcoin’s huge p2p network will not disappear.

Borderless, cross-border. Cross-border remittances will pass through layers of foreign exchange control agencies, and transaction records will be recorded by multiple parties. But if you use Bitcoin to trade, you can directly enter the digital address, click the mouse, and wait for the p2p network to confirm the transaction, and a large amount of money will be gone. It does not go through any control agency and will not leave any cross-border transaction records.

It is difficult for copycats to survive. Since the Bitcoin algorithm is completely open source, anyone can download the source code, modify some parameters, and recompile it to create a new p2p currency. However, these counterfeit currencies are fragile and extremely susceptible to 51% attacks. Any individual or organization, as long as it controls 51% of the computing power of a p2p currency network, can manipulate transactions and currency values ​​at will, which will cause a devastating blow to the p2p currency. Many altcoins fail at this point. The Bitcoin network is already robust enough. If you want to control 51% of the computing power of the Bitcoin network, the number of CPU/GPU required will be an astronomical number.

Disadvantages

Fragility of the trading platform. The Bitcoin network is robust, but Bitcoin trading platforms are fragile. The trading platform is usually a website, and the website can be hacked or shut down by the authorities.

Transaction confirmation takes a long time. When a Bitcoin wallet is first installed, it will take a lot of time to download historical transaction data blocks. When doing Bitcoin transactions, in order to confirm the accuracy of the data, it will take some time to interact with the p2p network. The transaction will not be completed until the entire network confirms it.

Prices are extremely volatile. Due to the involvement of a large number of speculators, the price of converting Bitcoin to cash has fluctuated like a roller coaster. Making Bitcoin more suitable for speculation rather than anonymous transactions.

The public does not understand the principles, and there is resistance from traditional financial practitioners. Active netizens understand the principles of p2p networks and know that Bitcoin cannot be manipulated and controlled by humans. But the public does not understand that many peopleCan't even tell the difference between Bitcoin and Q coins. “No issuer” is the advantage of Bitcoin, but in the eyes of traditional financial practitioners, currency “without an issuer” is worthless. [12]

Currency trading listening to voice

Purchase method

Users can buy Bitcoin, and they can also use computers to perform a large number of calculations according to algorithms to " Mining” Bitcoin. When a user "mines" Bitcoin, he or she needs to use a computer to search for a 64-bit number, and then compete with other gold diggers by repeatedly solving puzzles to provide the Bitcoin network with the required number. If the user's computer successfully creates A set of numbers, then you will get 25 Bitcoins.

Due to the decentralized programming of the Bitcoin system, only 25 Bitcoins can be obtained every 10 minutes, and by 2140, the upper limit of circulating Bitcoins will reach 21 million. In other words, the Bitcoin system is self-sufficient, coded to resist inflation and prevent others from destroying the code.

Transaction method

Bitcoin is electronic cash similar to email. Both parties to the transaction need a "Bitcoin wallet" similar to an email address and a "Bitcoin address" similar to an email address. Just like sending and receiving emails, the remitter pays Bitcoin directly to the other party according to the recipient's address through a computer or smartphone. The following table lists some websites where you can download Bitcoin wallets and addresses for free.

A Bitcoin address is a string of letters and numbers about 33 characters long, always starting with 1 or 3, such as "". Bitcoin software can automatically generate addresses. When generating addresses, there is no need to connect to the Internet to exchange information, and it can be done offline [2]. There are more than 2 Bitcoin addresses available. To put it figuratively, there are about 2 grains of sand in the world. If there is an earth in each grain of sand, then the total number of Bitcoin addresses far exceeds the number of all the sand on all these "earths".

Bitcoin addresses and private keys appear in pairs, and their relationship is like a bank card number and password. A Bitcoin address is like a bank card number used to record how many Bitcoins you have at that address. You can generate a Bitcoin address at will to store Bitcoins. When each Bitcoin address is generated, a corresponding private key for the address will be generated. This private key proves your ownership of the Bitcoins at that address. We can simply understand the Bitcoin address as a bank card number, and the private key of the address as the password of the corresponding bank card number. You can only use the money on your bank card number if you know your bank password. Therefore, please save your address and private key when using a Bitcoin wallet.

After Bitcoin transaction data is packaged into a "data block" or "block", the transaction is initially confirmed. When a block is linked to the previous block, the transaction will be further confirmed. After getting 6 consecutive block confirmations, the transaction is basically irreversibly confirmed. The Bitcoin peer-to-peer network stores all transaction history in the "blockchain". The blockchain continues to lengthen, and once new blocks are added to the blockchain, they cannot be removed. The blockchain is actually a group of decentralized user-side nodes and a distributed database composed of all participants. It is a record of the history of all Bitcoin transactions. Satoshi Nakamoto predicted that when the amount of data increases, users hope that not all of this data will be stored in their own nodes. To achieve this goal, he introduced a hash function mechanism. In this way, the user terminal will be able to automatically eliminate those parts that it will never use, such as some very early Bitcoin transaction records.

Consumption methods

Many websites for technology players have begun to accept Bitcoin transactions. Including websites such as Mtgox, BTCChina, and some Taobao stores, they can even accept services such as Bitcoin exchange for US dollars and euros. There is no doubt that Bitcoin has become a real currency in circulation, rather than a virtual currency like Tencent Q Coin. There are already specialized third-party Bitcoin payment companies abroad, similar to domestic Alipay, that can provide API interface services.

You can use money to buy Bitcoins, or you can be a miner and "mine" them by using a computer to search for 64-bit numbers. By using computers to repeatedly decrypt, they compete with other gold diggers to provide the Bitcoin network with the numbers it needs. If the computer can successfully create a set of numbers, it will receive 25 Bitcoins. Bitcoin is decentralized and requires a fixed number of Bitcoins to be created per unit of computing time. 25 Bitcoins can be obtained every 10 minutes. By 2140, the upper limit of Bitcoins in circulation will reach 21 million. In other words, the Bitcoin system is self-sufficient, coded to resist inflation and prevent others from sabotaging it.

Payment Case

While being wildly pursued by investors, Bitcoin has been accepted by individual merchants in reality. A restaurant in Beijing has enabled Bitcoin payments. The restaurant in Chaoyang Joy City said it began accepting Bitcoin payments at the end of November 2013. At the end of the meal, consumers transfer a certain amount of Bitcoin to the store's account to complete the payment. The entire process is similar to a bank transfer. The restaurant once settled a meal of 650 yuan with 0.13 Bitcoins. [13]

In January 2014, Overstock began accepting Bitcoin, becoming the first large online retailer to accept Bitcoin. [14]

Bitcoin was created by Satoshi Nakamoto, (almost certainly) a pseudonym. To date, no one has been able to definitively associate Bitcoin with a real person. Or connect a group of people. Satoshi Nakamoto disappeared from the internet in 2011, leaving few clues as to who they might be. Over the years, many people haveKai claimed to be Satoshi, but none supported this claim with indisputable facts.

In an early Bitcoin forum, Satoshi said they started working on Bitcoin in 2007, two years before the first block was mined. On January 3, 2009, the first block of the Bitcoin blockchain, the Genesis block, was mined. Satoshi Nakamoto, the miner of the Genesis block, received the first batch of 50 Bitcoins put into circulation. However, the reward for the first block is unpayable because the way Genesis blocks are expressed in the code is a little weird. BitMEX Research published an analysis of Bitcoin’s early mining and concluded that “someone” mined 700,000 Bitcoins. Although many believe it is Satoshi, there is still no official confirmation.

One can only imagine the fame Satoshi Nakamoto would gain if their identities were revealed, not to mention the vast wealth they would collect (although Sato doesn't seem to have spent any of the coins they were supposed to mine). Over time, many people have claimed to be Satoshi, while others have had this claim thrust upon them.

False Claims

One of the most famous examples of someone claiming to be a Satoshi is Craig Wright , Australian scholar. As early as 2015, Wright has repeatedly tried to present to the public indisputable proof that he is the inventor of Bitcoin, but to this day he has been unsuccessful. In fact, his "evidence" turned out to be fake.

Why Satoshi must remain anonymous

Satoshi Nakamoto, the creator of the world’s first decentralized currency, should arguably remain anonymous , because of the nature of their creation. After creating a protocol with no central point of failure, Satoshi may have realized that remaining anonymous might eliminate the last possible central point of failure that Bitcoin could have: the people who created it. Removing a single identity that might be associated with the emergence of Bitcoin removes any single face that might influence the politics, rules, or decisions of the Bitcoin community.

Whoever Satoshi is, they are undoubtedly the geniuses of our time. The Bitcoin protocol provides economic incentives in all the right places, providing a unique solution to the Byzantine Generals' Problem. Satoshi Nakamoto used concepts from cryptography, mathematics, game theory, and economics to create a beautifully designed—and the world’s first—digital scarce asset, Bitcoin.

The inventor of Bitcoin is a Japanese named Satoshi Nakamoto. On January 3, 2009, the world’s first BitcoinBitcoin was born, and digital currency was officially born. The price of digital currency did not rise rapidly until the end of 2013, from about 10 US dollars in the early stage to more than 900 US dollars. In 2016, the popularity of Bitcoin really started, and the price soared. , known as "digital gold". Why is Bitcoin so valuable?

1. Mining is difficult. Bitcoin mining requires specific calculations, the cost of calculation time is very high, and the initial material investment is also very large.

2. Bitcoin has currency attributes and is trusted by the market. Bitcoin’s encryption algorithm is difficult to crack, ensuring its uniqueness.

3. The Bitcoin trading market is highly transparent, market prices are open and transparent, and circulation and transactions in virtual digital goods are convenient and fast.

4. With the recognition of some countries, some policies issued by the country towards Bitcoin and digital currencies will undoubtedly stimulate the rise of Bitcoin prices.

Things are more valuable when they are scarce. Bitcoin is relatively rare. Currently, it is very difficult to mine comparative coins. The impact of supply and demand, the shortage of supply in the market, etc., have undoubtedly played a big role in the rise in prices. . Friends who buy Bitcoin on trading platforms to earn the price difference need to be cautious.

Bitcoin is a P2P form of digital currency. Peer-to-peer transmission means a decentralized payment system. The concept of Bitcoin was proposed by the Japanese Satoshi Nakamoto in 2009. The price of Bitcoin has been unimaginably high since its inception. Why is Bitcoin so valuable?

Let’s briefly talk about it. .

By running a special program, the Bitcoin mining machine can obtain Bitcoins similar to task rewards after the operation. The current output of Bitcoin is very low, about 3,600 new coins are produced every day, and the quantity is limited; the price of Bitcoin mining is high. Since Bitcoin became popular, the price of professional mining machines has dropped from a low price of about 10,000 yuan to the current price. If it is more expensive than 300,000 yuan, it requires a lot of financial resources to invest in equipment in the early stage; the mining time is long, and Bitcoin mining is to go through specific complex calculations, which consumes a very long time; Bitcoin mining machines consume a lot of money, in addition to their own In addition to losses, it also consumes a lot of electricity. The daily power consumption of Bitcoin mining machines can reach 188 million kilowatt hours, which is equivalent to one percent of China's daily power generation. The number of Bitcoins is still increasing, and some institutions estimate that the electricity consumption of Bitcoin mining will exceed the electricity consumption of the United States in 2019.

The price of Bitcoin has always been related to the media. I would like to remind everyone that the price of Bitcoin rises quickly and falls quickly. The risk is high. Friends who want to buy Bitcoin to make money must be cautious. join in.

Bitcoin, which has been dormant for many days, has made a comeback with the help of the "ransomware" virus, and started a familiar rampage mode. This virtual currency, called "digital gold", has surged 3 million times in 8 years, and even Chinese aunts have entered the market. Some people think this is a drum-passing game.Some people firmly believe that Bitcoin will become a scarce asset, and some even say that it will be a shining node in the long river of history. However, most people do not ask for a deeper understanding, just marvel at another round of wealth explosion.

Who do you think created Bitcoin? There has never been a conclusion about the inventor of Bitcoin. The common theory is that the Japanese "Satoshi Nakamoto" (Satoshi Nakamoto). On January 3, 2009, the world's first batch of Bitcoins were "mined". This digital currency designed by a person codenamed "Satoshi Nakamoto" was officially born. Since that moment, 15 people have successively Suspected to be "Satoshi Nakamoto". In 2014, the authoritative American media revealed that the Japanese-American physicist whose real name was "Satoshi Nakamoto" was the legendary "Father of Bitcoin", but the old professor firmly denied it. The picture shows Satoshi Nakamoto, who made a rare appearance, being besieged by the media, constantly blocking the camera and denying any connection with Bitcoin.

In May 2016, Australian engineer and entrepreneur Craig Wright publicly stated that he was the creator of Bitcoin, Satoshi Nakamoto. But just a few days later, White himself "surrendered" and issued a letter of apology, saying that he "could not provide key evidence" to prove himself. Although Satoshi Nakamoto was nominated as a candidate for the 2016 Nobel Prize in Economics, his true identity has not yet been completely unveiled. Picture: BBC (from: Tencent Pictures)

After getting involved with Bitcoin, Craig White was targeted by the police. The picture shows the Australian Federal Police and tax officials searching White's residence and office. The latter's Bitcoin-related business has tax issues. According to media reports, the mysterious figure "Satoshi Nakamoto" holds more than 1 million Bitcoins. Based on the current price of 15,000 yuan each, his worth exceeds 15 billion yuan. According to the original strict design, the total number of Bitcoins was limited to 21 million, and currently about 14 million have been mined. Picture: Reuters

Satoshi Nakamoto, his true identity is unknown

❻ After the global financial crisis, Satoshi Nakamoto proposed the concept of Bitcoin, what is its development history

The development history of Bitcoin is very bumpy, but it is also very legendary.

The main reason why I say this is because Bitcoin itself does not have any investment value, and almost all investment institutions do not recognize the value of Bitcoin. Under this situation, because Bitcoin itself has a relatively good wealth-creating effect, many retail investors may choose to invest blindly, which further pushes up the price of Bitcoin. During this process, the price of Bitcoin has even skyrocketed by more than 100,000 times.

Bitcoin itself was born after the financial crisis.

The reason why there is an investment product like Bitcoin is mainly because of the global financial crisis. After the financial crisis, there was an online person named ZhongSatoshi invented the concept of Bitcoin. At the beginning, almost no one recognized Bitcoin, and Bitcoin at that time did not have any actual benchmark price. When an American netizen exchanged Du Wanmei's Bitcoin for a pizza, Bitcoin generated so-called financial value for the first time.

❼ Who invented Bitcoin

The inventor of Bitcoin is a Japanese named Satoshi Nakamoto. If you want to know more about Bitcoin, you can download it Take a look at Hufu Exchange. If you have any questions, you can ask me.

❽ How did Bitcoin originate and what are its attributes

Bitcoin first originated from an article on the Internet " Bitcoin: A Peer-to-Peer Electronic Currency System”. In 2008, at the time of the global economic crisis, the subprime mortgage crisis in the United States swept the world, leading to a global economic recession. In November of the same year, an anonymous person named Satoshi Nakamoto published his idea for electronic currency on the Internet, and proposed the concept of Bitcoin for the first time, trying to build a payment network with the help of blockchain technology in order to achieve payment decentralization. Centralized functionality. Based on Satoshi Nakamoto’s ideas, on January 3, 2009, the Bitcoin genesis block was officially born.

❾ Who invented Bitcoin

The inventor of Bitcoin is Satoshi Nakamoto who lives in California, USA. Many media have blocked Nakamoto. Satoshi’s home, but he denied having anything to do with Bitcoin. On April 26, 2011, Bitcoin founder Satoshi Nakamoto sent his last email to other developers, in which he made it clear that he had "moved to other projects" while handing over The encryption key he uses to send alerts across the network. Fast forward to 2021, and the Bitcoin story is in many ways just beginning. As the price of Bitcoin breaks through a new high of $60,000, the necessity of Satoshi Nakamoto's creation of a digital currency that is not controlled by any central party or government is increasingly recognized.
Extended information: Bitcoin is an electronic cryptocurrency that uses blockchain as the basis of payment technology and adopts the characteristics of decentralization, globalization, and no need for third-party institutions or individuals. Created on the basis of a borderless peer-to-peer network and the invention of open-source software by consensus initiatives, Bitcoin (pseudonym) is the ancestor of cryptocurrencies and blockchain, and is currently the most popular cryptocurrency. Everyone can participate in Bitcoin activity and it can be distributed through computer operations called "mining." To avoid inflation, the number of Bitcoin protocols is capped at 21 million. Using Bitcoin as the private key for digital signatures allows individuals to pay others directly without going through third-party institutions, such as banks, clearing centers, securities dealers, etc., thus avoiding high handling fees, cumbersome procedures and regulatory issues.
There have been numerous attempts over the years to recast Satoshi Nakamoto as someone only interested in disrupting banking or payments, with most people focusing on the piece of news that was printed on the first block of the Bitcoin blockchainThe article has its own interpretation. But even without looking directly at the code, some of Satoshi Nakamoto's initial public information directly related to currency issuance issues.
In February 2009, he wrote on the P2P Foundation Forum: "The fundamental problem with traditional currency is all the trust required to make it work. People have to trust the central bank not to devalue the currency, but the history of fiat currencies is fraught with This is a violation of that trust. We must trust banks to hold our money and transfer it electronically, but instead they lend out money on the wave of a credit bubble with very few reserves."
He said in another statement One of the earliest responses described it this way: "With regard to the issue of secure electronic payment protocols, there is really no one who can act as a central bank or the Federal Reserve and adjust the money supply as the number of users grows."