No BTC

1. Author: Feng Chiyu
link: https://www.hu.com/question/22023800/answer/22741288
source: Zhihu
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the first conclusion: ripple is not a currency, but a payment network; XRP currency used in the network is a kind of currency. Compared with bitcoin, the former is a payment system, while the latter is money, which is not the same kind of things, so there is no substitutability

bitcoin has been fried rotten, and hushang's answer is close to saturation, so we don't need to repeat our work. Let's focus on ripple

what is ripple
ripple is an open payment network. Just like ripple, the word ripple emphasizes the flow and transmission of funds

in life, acquaintances borrow money from each other and may not write IOU. Sometimes, several friends borrow money from each other, generate multi angle debts, and may adjust the relationship of debts and creditor's rights according to the alienation of relatives. For example, a owes B 5 yuan, B owes C 5 yuan, and a and C are familiar with each other. Once three people discuss, they may directly ask a to repay C. In fact, not only between acquaintances, many small shops and small companies will allow acquaintances to write off on credit

that is to say, everyone is more willing to have debt relationship with the people they trust or are familiar with, and through the trust network between people, funds can flow smoothly

the above is the money network between people in the real world. If all this happens in the Internet world, it is the money flow system that ripple is trying to achieve

but in this network, the relationship between you and your trusted acquaintances is transformed into the relationship between you and your trusted gateway. As the name suggests, a gateway is a "gateway" between one network and another, that is, a network gateway. To go from one room to another, you have to go through a door. Similarly, to send information from one network to another, you have to go through a "gateway", which is the gateway. As the interface between network and network, network and the real world, gateway is like a bank counter, which converts your currency into a series of numbers in your account

what happens in ripple is just like the reality. When you change 100 RMB into FCY issued by gateway a through gateway a, you will have an extra amount of 100fcy in your ripple account. You can transfer the 100fcy to a stranger through gateway a, such as Xiao Ming, Xiaoming can exchange the money into real-world RMB through gateway a. In the whole process, the relationship between creditor's rights and debt changes as follows:
1. You deposit 100 RMB into gateway a, and gateway a owes you 100 RMB and gives you a 100fcy IOU
2. You pass the IOU of 100fcy to Xiaoming through gateway A. at this time, gateway a no longer owes you money, but owes Xiaoming RMB 100, because the IOU is in Xiaoming's hands
3. Xiao Ming takes the IOU to go to gateway a to cash RMB 100

in the whole process, you and Xiao Ming only establish a trust relationship with gateway a, but you and Xiao Ming do not need to establish a trust relationship

what is XRP coin
what is XRP coin at the beginning? Its main function is to pay transaction costs

XRP is a kind of cryptocurrency embedded in ripple system. Unlike bitcoin, ripple issued 100 billion XRP coins at the beginning of its establishment, and the total amount is no longer increasing, that is to say, it has g up the mine ahead of time. Each transaction (for example, you transfer 100fcy to Xiaoming) requires a small amount of XRP currency, which is technically destroyed directly. At the same time, XRP coins are also used as margin. When you open a ripple account, you need to put 50 XRP coins in it as a guarantee

according to opencoin, the issuing and maintenance company of ripple, the first 100 billion XRP coins will be given to investors and founders, 50 billion will be distributed free of charge (that is, opening accounts for free for a period of time), and the other 30 billion will be held by opencoin, which will be sold from time to time to make profits. Opencoin also admits that holding and selling XRP coins is the only way to make a profit<

ripple's influence
at the beginning of ripple's birth, rumors abound. Many people claim that ripple is more in line with the operation mode of money flow in reality, and will replace bitcoin in the future

but in fact, it is too early to judge whether ripple system can succeed. As soon as ripple started to operate, many problems have been exposed, including that its security is not as good as the official propaganda

at the beginning, ripple itself is just a new currency circulation system or payment network, and the essence of XRP currency is the lubricant to assist the currency circulation in the system. If this system is successful one day, it will only have a positive impact on the circulation of bitcoin. To say that "Ripple can replace bitcoin" is actually equivalent to saying that "Alipay can replace the renminbi" is wrong: the former is the payment system, the latter is the currency, not the same thing, so there is no replaceability. The emergence of Alipay has facilitated the payment and flow of RMB. Similarly, if the Ripple system is successful, its role is only to facilitate the payment and circulation of legal tender and bitcoin.

editor on February 22, 2014
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Huang Qi


the operation of not chasing new fans is not a good code farmer
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@ Feng Chiyu
only mentioned the scene of ripple when users and users pay, but ripple is far more than that. I add two points: trading system and automatic path search

through a gateway, you can deposit RMB, US dollars or virtual currencies, such as bitcoin and Leyte currency, into ripple wallet. And in this system, you can achieve any currency to buy or sell a single transaction. Trading here is better than trading platform. The transaction information of traditional trading platform is not open and opaque. In ripple, every order, cancellation and transaction record can be fully inquired. Through websocket interface, developers can also implement automatic trading program, and basically get real-time data in addition to network delay Network delay depends on the situation, the delay of using US server may be less than 0.1 second!) However, most of the traditional trading platforms have a certain cache time for the API interface. A few seconds of cache time may be fatal to the automatic trading program
with this trading market, ripple can realize a very advanced means of payment - automatic path search
to give a practical example, if I was a Chinese programmer working for a company in the United States, I might get us dollars through Western Union remittance or other ways before, and then I would go to the bank to exchange them for RMB. In the middle of this, the handling cost is relatively high. With ripple, I can do this now:
I trust a RMB gateway, such as ripplecn or ripplechina gateway, which is one of the best RMB gateways in China. Then American companies deposit bitcoin or US dollars through bitsmap gateway and send them to ripple. The service charge is only about 0.000012xrp, It is equivalent to about RMB 0.00000108. Then I will directly receive the CNY quota in the ripple system and withdraw it at the RMB gateway. The service charge for withdrawal is 3% for ripple CN gateway and 6% for ripple China gateway. It only takes a few seconds to complete the automatic exchange payment in ripple system
the full-automatic exchange in the payment step is the automatic path search of ripple, which is the essence of ripple system. Path automatic search relies on the above-mentioned hanging single transaction system. If the above American company deposits bitcoin, the system will complete the following calculation in a few seconds: query the amount of XRP after BTC / XRP exchange, and then the amount of CNY after XRP / CNY exchange. If there is a more appropriate path, such as BTC / USD - & gt; USD/XRP-> XRP / CNY, or BTC / USD - & gt; USD / CNY, the system will also automatically calculate and find the cheapest path for the sender to complete the exchange payment
once, I used ripplecn gateway CNY, and my friend only trusted ripplechina. He wanted me to give him 10 yuan, so I entered the sending interface to input 10 yuan, but the system showed that I only needed to send 9.9998 yuan. Because there is a price difference between the two gateways in the CNY / XRP trading market, the system automatically realizes the path search and provides me with the cheapest payment path
there will be many applications on ripple in the future, and ripple's second payment experience is excellent. If you have a ripple wallet, try clicking send in the wallet and the recipient enters it [email protected] perhaps [email protected] There will be a call fee and Q coin recharge interface, which is an application I made for ripple. You can use XRP, U.S. dollar, RMB, bitcoin and other currencies to purchase q-coin, and exchange it into RMB in seconds to complete the recharge request automatically
ripple is likely to go against the weather in the future. As for bitcoin? His role in the virtual currency instry is similar to that of legal currency, which is totally different from ripple's payment system<
editor on February 27, 2014
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ripple basic concept and principle, others have answered, simply speaking, it is a payment network, anyone can become a node of this network to issue currency and then circulate throughout the network. There are some innovations
but in the long run, it must grow faster than bitcoin, otherwise it is likely to lose in the competition, because at present, most of its functions can be realized in bitcoin network
from a technical point of view, because bitcoin has "dyeing" technology, anyone can issue currency, stocks, funds and so on by becoming a node on the bitcoin network. Assuming that the bitcoin is fully legalized, Alipay will turn 1 bitcoin "dyed" into the one and only special bitcoin that is unique and unforgery in the bitcoin network. Then it will promise the public that the stained coin can be exchanged for Alipay by 1 yuan. So the public can use Renminbi to exchange Alipay's "bit yuan" for consumption and payment. So these special bitcoins have what experts call "guarantee" or "anchor". As long as Alipay is credible, these "bit yuan" will always be valuable and can be used safely. At the same time, as bitcoin transactions are open throughout the network, everyone can see how much Alipay has issued "bit yuan", whether it has spammed money and oversold its own assets to guarantee the currency. So the only advantage of ripple in technology is that it can transfer money quickly. It doesn't need bitcoin to wait for dozens of minutes. But in the long run, bitcoin can speed up the transfer speed to a few minutes in the future through technical upgrading

2.

Bitcoin is a kind of electronic currency / network virtual currency

bitcoin: also known as "bitcoin", is a kind of network virtual currency. Internet users can use bitcoin to buy some virtual goods, such as clothes, hats, equipment, etc. in online games. Internet users can also use bitcoin to buy real goods

on February 26, 2014, Joe Manchin, a Democratic senator from West Virginia, issued an open letter to a number of regulatory authorities of the US federal government, hoping that the relevant authorities would pay attention to the status quo of bitcoin's encouraging illegal activities and disrupting the financial order, and demanded that actions be taken as soon as possible to completely ban the electronic currency

from 12:00 noon on January 24, 2017, China's three major bitcoin platforms officially began to collect transaction fees

extended data:

currency features:

1, decentralization: bitcoin is the first distributed virtual currency, the whole network is composed of users, and there is no central bank. Decentralization is the guarantee of bitcoin's security and freedom

2, global circulation: bitcoin can be managed on any computer connected to the Internet. No matter where you are, anyone can dig, buy, sell or collect bitcoin

3, exclusive ownership: private key is needed to control bitcoin, which can be stored in any storage medium in isolation. No one can get it except the user himself

4, low transaction cost: bitcoin can be remitted free of charge, but a transaction fee of about 1 bitfen will be charged for each transaction to ensure faster transaction execution

5, no hidden cost: as a means of payment from a to B, bitcoin has no cumbersome limit of quota and proceres. If you know the other party's bitcoin address, you can pay

6, cross platform mining: users can explore the computing power of different hardware on many platforms

advantages of bitcoin:

1, it is completely decentralized, without issuing institutions, it is impossible to manipulate the number of issues. Its distribution and circulation are realized through open-source P2P algorithm

2, anonymity, tax exemption and supervision free

3, robustness. Bitcoin is completely dependent on P2P network and has no distribution center, so it cannot be shut down externally. Bitcoin price may fluctuate and collapse, and many governments may declare it illegal, but bitcoin and its huge P2P network will not disappear

4, borderless and cross-border. Cross border remittance will go through layers of exchange control agencies, and the transaction records will be recorded by many parties. But if you trade with bitcoin, enter the digital address directly, click the mouse and wait for the P2P network to confirm the transaction, a lot of money will pass. It does not go through any regulatory agencies and will not leave any cross-border transaction records

5, Shanzhai people are difficult to survive. Because bitcoin algorithm is completely open source, anyone can download the source code, modify some parameters, recompile, and create a new P2P currency

but these counterfeit currencies are very fragile and vulnerable to 51% attacks. Any indivial or organization, as long as it controls 51% of the computing power of a P2P currency network, can manipulate transactions and currency value at will, which will be a devastating blow to P2P currency

many counterfeit coins die in this link. The bitcoin network is robust enough. If you want to control 51% of the computing power of the bitcoin network, the number of CPUs / GPUs required will be astronomical

the weakness of bitcoin

1, the fragility of trading platform. The bitcoin network is robust, but the bitcoin trading platform is fragile. Trading platform is usually a website, which will be attacked by hackers or shut down by competent authorities

2, the transaction confirmation time is long. When bitcoin wallet is first installed, it will consume a lot of time to download historical transaction data blocks. While bitcoin transaction, in order to confirm the accuracy of data, it will take some time to interact with P2P network, and the transaction will be completed only after the whole network is confirmed

3, the price fluctuates greatly. Due to the intervention of a large number of speculators, the price of bitcoin for cash fluctuates like a roller coaster. Making bitcoin more suitable for speculation rather than anonymous trading

4, the public did not understand the principle, and the traditional financial practitioners resisted. Active netizens understand the principle of P2P network and know that bitcoin has no legal person to manipulate and control

but the public doesn't understand, and many people can't even distinguish between bitcoin and q-coin“ "No issuer" is the advantage of bitcoin, but in the view of traditional financial practitioners, "no issuer" currency is worthless

3. It's probably tens of thousands of yuan. If you buy more, you'll get back more mining machines. Now you don't earn money. Damn it, you still need electricity, so it's not recommended.

4.

1. First of all, connect the network cable, plug the network cable into the network cable interface of the mining machine, and remember to plug it tightly. Only when the miner is connected to the Internet, there is no limit to the broadband

extended data

users can buy bitcoin, at the same time, they can also use computers to "mine" bitcoin according to a large number of calculations. When users "mine" bitcoin, they need to use the computer to search for 64 bit numbers, and then compete with other gold miners by repeatedly solving puzzles to provide the required numbers for the bitcoin network. If the user's computer successfully creates a set of numbers, then they will get 25 bitcoins

e to the decentralized programming adopted by the bitcoin system, only 25 bitcoins can be obtained every 10 minutes, and by 2140, the maximum number of bitcoins in circulation will reach 21 million. In other words, bitcoin system is able to achieve self-sufficiency, resist inflation through coding, and prevent others from destroying these codes

5. Ordinary computer mining has long been unworkable. If it was OK two years ago, at present, the common CPU mining clients have been canceled. Now mining needs professional ASIC miner
mining is a process of consuming computing resources to process transactions, ensuring network security and keeping everyone's information synchronized in the network. It can be understood as the data center of bitcoin. The difference lies in its completely decentralized design. Miners operate all over the world, and no one can control the network. This process is called "mining" because it is similar to gold panning, because it is also a temporary mechanism for issuing new bitcoin. However, unlike gold panning, bitcoin mining provides rewards for services that ensure the safe operation of payment networks. After the last bitcoin, mining is still necessary.

6. The miner is not set right. Give me your contact information. I'll help you remotely