区块链的比特币,区块链在比特币中起到什么作用

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『一』What is the popular explanation of blockchain? Did blockchain originate from Bitcoin?

1. Blockchain is a term in the field of information technology. In essence, it is a shared database, and the data or information stored in it has the characteristics of "unforgeable", "full traces left", "traceable", "open and transparent" and "collectively maintained". Based on these characteristics, blockchain technology has laid a solid foundation of "trust", created a reliable "cooperation" mechanism, and has broad application prospects.

2. Blockchain originated from Bitcoin. On November 1, 2008, a person calling himself Satoshi Nakamoto published "Bitcoin: A Peer-to-Peer Electronic Cash System" "The article explains the architectural concept of an electronic cash system based on P2P network technology, encryption technology, timestamp technology, blockchain technology, etc., which marks the birth of Bitcoin. Two months later, the theory came into practice, and on January 3, 2009, the first genesis block with serial number 0 was born.

『二』Who invented Bitcoin

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

『三』What is the relationship between blockchain technology and Bitcoin?

Blockchain technology is Bitcoin As for the underlying technology, Bitcoin has been operating without any centralized organization operation and management. Later, Bitcoin technology was abstracted and called blockchain technology, or distributed ledger technology.

Bitcoin is the first application of blockchain and will be expanded to more and more industries in the future.

Blockchain technology is called distributed ledger technology. It is an Internet database technology that is characterized by decentralization, openness and transparency, allowing everyone to participate in database records.

While Bitcoin is not issued by a specific monetary institution, the Bitcoin economy uses a distributed database composed of many nodes in the entire P2P network to confirm and record all transaction behaviors, and uses cryptographic design to ensure A currency that provides security in all aspects of currency circulation.

(3) Blockchain creates Bitcoin Extended reading:

Bitcoin currency characteristics:

Decentralization: Bitcoin Coin 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.

Worldwide circulation: 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 himself.

Low transaction fees: It is free to send Bitcoin, but you will eventually be charged about 1 Bitcoin cent per transaction.Easy fees to ensure faster execution of transactions.

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 capabilities of different hardware on many platforms.

Reference: Network-Blockchain Network-Bitcoin

『四』Who invented Bitcoin

The concept of Bitcoin (BitCoin) was originally Satoshi Nakamoto proposed in 2009 to design and release open source software based on Satoshi Nakamoto's ideas and build a P2P network on top of 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,Someone published a paper under 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 output 5250,000 (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 Opening at 12:00 noon on January 24thThe transaction service fee is charged at a fixed rate of 0.2% of the transaction amount, and the rates for active transactions and passive transactions are 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, which keeps 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 has also changed.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 pay 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 private keys 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 himself.

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, many people evenI can'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, currencies with "no issuer" are 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 miners 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 of the 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 deal is essentially 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, the client hopes that not all of the data will be stored in its own node. 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 have publiclyclaimed to be Satoshi, but neither supported this claim with undisputed 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 batch of BitcoinsBitcoin 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, and somePeople 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

『Wu』What is the relationship between blockchain and Bitcoin

Blockchain technology is The basic technology of Bitcoin is also the core and infrastructure of Bitcoin. Bitcoin has always been operated and managed without any centralized organization. Later, Bitcoin technology was abstracted and called blockchain technology, or distributed ledger technology.

(1) Blockchain is the core and infrastructure of Bitcoin:

1. In the Bitcoin system , "currency" is simply the unit of account used in that ledger. The most important thing is not the concept of "currency", but the concept of "ledger" without a central storage organization. For example: I lend 50 yuan to someone else. At this time, I asked the financial staff to help me keep accounts.

2. Blockchain technology is the basic technology of Bitcoin, and it is also the core and basis of Bitcoin.infrastructure. Bitcoin has always been operated and managed without any centralized organization. Later, Bitcoin technology was abstracted and called blockchain technology, or distributed ledger technology.

(2) Blockchain is the core and infrastructure of Bitcoin:

1. In the Bitcoin system, “currency” is just the accounting used in the ledger. unit. The most important thing is not the concept of "currency", but the concept of "ledger" without a central storage organization. For example: I lend 50 yuan to someone else. At this time, I asked the financial staff to help me keep accounts. Bookkeeping must be paid, so I need to pay the financial staff.

Because an incentive mechanism has also been invented in the Bitcoin system technology, which is equivalent to what I just said, you can help me keep accounts and I will pay you, but not everyone has accounting rewards. Therefore, the blockchain has designed a corresponding mechanism competition mechanism.

2. The competition mechanism uses a hash algorithm to determine the ownership of rewards. Generally speaking, everyone is given a math problem. The reward is for whoever calculates the result first. The calculation process of the hash algorithm is a process in which a professional computer (we call it a miner) uses the hash algorithm to calculate the results, which is called mining.

For the fastest and best bookkeepers, the system writes the recorded contents into the account books and sends the account book contents to everyone in the system for backup. This way, everyone in the system has a complete ledger called blockchain technology.

(3) The origin of blockchain:

1. The origin of the word "blockchain" is from the original English version of the Bitcoin white paper "Blockchain". When translating this sentence, the Chinese market directly used the word "blockchain" and then directly wrote it as "blockchain", which became a proper noun at the global blockchain technology level.

So, no matter who explains the blockchain, Bitcoin cannot be bypassed. If you want to introduce the history of cars, just like you can't avoid Carl Benz; if you want to introduce the history of airplanes, just like the Wright brothers.

2. Bitcoin "invented" and proved the feasibility of blockchain technology. Bitcoin is not the entire blockchain technology, just one of its applications. But without Bitcoin, or if Bitcoin's applications were not successful, blockchain might not have emerged, or at least not for many years. Therefore, it is difficult for the blockchain to be "isolated" from Bitcoin for a long time.

(5) Blockchain creates Bitcoin Extended reading:

Blockchain technology applied to digital currency Disadvantages:

First, "decentralization" does not have a circulation management agency. In essence, blockchain technology is a distributed database system, its logical structure is a one-way linked list, and its design model is based on P2P network, which determines that there is currently no unified virtual currency central control system based on blockchain technology. .

Second, quantity supply is difficult to effectively control. Based on blockchain technology, the issuance amount of virtual currency is fixed. According to the Fisher equation, at a certain price level, the whole societyThe total transaction volume within a certain period of time has a certain ratio to the required nominal currency amount, and the fixed currency amount obviously cannot meet the requirements of the ever-increasing total social commodity price.

Third, it is difficult for the “mining mechanism” to create recognized value. Bitcoin itself has no value and is not backed by national credit. Some people think that "value is injected into virtual currency by continuously consuming computing power and energy", but in order to find a hash value that meets the requirements, spending millions of calculations is obviously not the most efficient option.

Fourth, producers and early holders can easily obtain high seigniorage taxes. Any virtual currency based on blockchain technology will be held by a small number of people in the early stages of development. Take Bitcoin for example. At first, Bitcoin was just a product of a few people's game. In May 2010, the first transaction to buy Bitcoin was a $25 pizza purchased for 10,000 Bitcoins, and the first transaction completed in July of the same year was $0.04/Bitcoin.

『Lu』【Blockchain Mind Map】002: Bitcoin

Here, Sir Jay gives you the 002nd Blockchain Mind Map: 002 Bitcoin ~

The following is a brief introduction to Bitcoin:

Bitcoin (English: Bitcoin) is a decentralized, non-universally globally payable electronic cryptocurrency. . Bitcoin was invented by Satoshi Nakamoto (pseudonym) on January 3, 2009, based on a borderless peer-to-peer network and using consensus-active open source software. As of February 12, 2018, Bitcoin is currently the cryptocurrency with the highest market capitalization. 【1】

Why was a cryptocurrency like Bitcoin created? In other words, why is Bitcoin so popular among the public, from a trendy gadget in the geek circle to a daily investment for ordinary people? ?

Some people believe that the advent of Bitcoin is the result of people’s hatred of the over-issuance of national sovereign currencies in the commodity economy and monetary policy intervention, and their yearning for community consensus currency autonomy in the gift economy. I believe everyone will have deep feelings about the issue of "inflation", right?

Check the information: Inflation is generally defined as: under the credit currency system, the amount of currency in circulation exceeds the actual needs of the economy, causing currency depreciation and a comprehensive and sustained rise in price levels-- In more common language: over a given period of time, the price level in a given economy generally continues to increase, resulting in a sustained decline in the purchasing power of money. 【2】

In China, we can use a vivid example to illustrate: around 1980, at the beginning of reform and opening up, “thousand-yuan households” were all very wealthy; Today, more than 30 years later, it is estimated that one has to reach the level of billions of assets to be considered a "rich man", right? ?Behind this tens of millions of times difference is the huge problem of currency depreciation caused by the over-issuance of currency.

Satoshi Nakamoto hates this kind of "inflation" problem. Therefore, he proposed his own methodology to solve the problem: Based on his belief in technology and liberal monetarism, he proposed a blockchain technology system; and relying on blockchain technology, he created Bitcoin.

Interestingly, Satoshi Nakamoto created the first block of the Bitcoin system, the "Genesis Block", with the sentence "The Times 03/Jan/2009 Chancellor on brink of second lout for banks” (on January 3, 2009, the chancellor was on the verge of implementing a second round of emergency bank bailouts), and this sentence was the headline of the front page article of The Times that day.

At this point, people’s bold attempt to issue their own currency system began, and once the experimental wheels were started, it was difficult to stop them. Later, Bitcoin went through continuous iterative development and produced many hard fork currencies.

Data shows:

Of course, the development of Bitcoin is not smooth sailing. Hackers will attack Bitcoin trading websites; and many criminal organizations will also use Bitcoin to Bitcoin is used for illegal transactions; many people even still think that Bitcoin is a "Ponzi scheme."

In addition, celebrities have different opinions on Bitcoin. The data shows:

Paul Kluman, the Nobel Prize winner in economics, believes that "Bitcoin It’s evil” and expressed several views on Bitcoin.

David Woo, global head of interest rate and foreign exchange research at Bank of America Merrill Lynch, believes that "Bitcoin can become a major payment method for e-commerce and become a strong competitor for traditional currency transactions." . . 【3】

What exactly is Bitcoin? Everyone will have their own different opinions. However, Sir Jay thinks: Before we easily make judgments about new things that are unclear to us, we should take the initiative to learn and understand them. To learn Bitcoin, it is a good methodology to first understand the Bitcoin white paper.

Sir Jay has also written about the interpretation of Bitcoin’s official white paper in his previous article. You are welcome to check it out:

Title: [Talking about Digital Currency] Interpretation of Bitcoin’s White Paper

Link: https://mp.weixin.qq.com/s?__biz=MzU1MTA2NDM1NA==&mid=2247483713&idx=1&sn=&chksm=5c761a#rd

In general, a new era has begun Coming, new things such as blockchain and Bitcoin will surely show their huge power in the future! We are all the lucky ones and witnesses of the times, so hurry up and learn and understand the world of blockchain! ! !

Note:

[1] Excerpted from Wikipedia: Bitcoin

[2] Excerpted from the Internet: Inflation

【3】Excerpted from Wikipedia: Bitcoin