How much BTC is a fast BTC
The total number of bitcoins is 21 million
in 2009, when bitcoin was born, block reward was 50 bitcoins. Ten minutes after its birth, the first 50 bitcoins were generated, and the total amount of money at this time is 50. Then bitcoin grew at a rate of about 50 every 10 minutes. When the total amount reaches 10.5 million (50% of 21 million), the block reward will be halved to 25
when the total amount reaches 15.75 million (5.25 million new output, i.e. 50% of 1050), the block reward will be further halved to 12.5. The monetary system used to have no more than 10.5 million in four years, after which the total number will be permanently limited to about 21 million
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monetary characteristics
1. Decentralization: bitcoin is the first distributed virtual currency, and the whole network is composed of users without a 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
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The concept of 21 million
bitcoin was first proposed by Nakamoto in 2009. According to Nakamoto's idea, open source software was designed and released, and P2P network was built on it. Bitcoin is a kind of P2P digital currency. Point to point transmission means a decentralized payment system
bitcoin is not issued in unlimited quantity, which is different from most currencies. Bitcoin does not rely on a specific currency issuer. But according to the specific algorithm, through a large number of calculations. Its circulation is controlled by software algorithms. The total number is 21 million
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generation principle
starting from the essence of bitcoin, the essence of bitcoin is actually the special solution generated by a bunch of complex algorithms. A special solution is one of the infinite (in fact, bitcoin is finite) solutions that can be obtained from the equations. Every particular solution can solve the equation and is unique[ 10] In the metaphor of RMB, bitcoin is the serial number of RMB. If you know the serial number of a note, you have the note. The process of mining is to constantly seek the special solution of this equation system through a huge amount of calculation. This equation system is designed to have only 21 million special solutions, so the upper limit of bitcoin is 21 million
to mine bitcoin, you can download the special bitcoin computing tools, register various cooperation websites, fill the registered user name and password into the computing program, and then click the operation to officially start. After completing the installation of bitcoin client, you can directly obtain a bitcoin address. When others pay, you only need to paste the address to others, and you can pay through the same client. After installing the bitcoin client, it will distribute 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. Unfortunately, if the hard disk is completely formatted, personal bitcoin will be completely lost
according to the currency conversion ratio on January 3, 2020, one bitcoin = RMB 47000
compared with fiat money, bitcoin has no centralized issuer. It is generated by the calculation of network nodes. Anyone can participate in the proction of bitcoin, and it can circulate all over the world. It can be bought and sold on any computer connected to the Internet. No matter where they are, anyone can dig, buy, sell or receive bitcoin, And in the transaction process, foreigners can not identify the user's identity information
the global financial crisis broke out in 2008. On November 1, 2008, a person who called himself Satoshi Nakamoto published bitcoin white paper "bitcoin: a peer-to-peer e-cash system" on the P2P foundation website, stating a new idea for e-money bitcoin came out. On January 3, 2009, bitcoin Genesis block was born
whenever bitcoin comes into the view of mainstream media, mainstream media always ask some mainstream economists to analyze bitcoin. Earlier, these analyses focused on whether bitcoin was a scam. Now the analysis focuses on whether bitcoin can become the mainstream currency in the future. The focus of the debate is often on the deflationary nature of bitcoin
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currency features:
Decentralization: bitcoin is the first distributed virtual currency, and the whole network is composed of users without a central bank. Decentralization is the guarantee of bitcoin's security and freedom
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
exclusive ownership: private key is required to manipulate bitcoin, which can be stored in any storage medium in isolation. No one can get it except the user himself
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
bitcoin network generates one block every 10 minutes on average, and the reward for each block is currently 12.5. At the earliest time, 50 BTCs were awarded to each block, which was halved after 210000 blocks were excavated, about once every four years. It is expected that the next halving will be in May 2020, when the reward for each block will become 6.25
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since then, the pie has risen to US $14000 for more than a month. Today, it has been nearly two months since this high point. At present, the range of shock is almost a 30% callback
so, according to the historical situation, we are likely to experience another 150% rise this year? And if it can be realized in the next few months, it also means that the bear market is really far away from us:
however, it should be noted that the above is based on the rising cycle in history, and now, logically speaking, we can't be 100% sure that we must be in a rising cycle now. If we choose this chart today, we also want to remind the players who are looking at the general trend, Or we should be cautious to do some catch-up and sell down, or wait for a "bottom hunting" point, because it is possible to miss one or two times the income of ten or twenty points
time really flies. It is expected that bitcoin will rise to US $15000 by the end of the year
however, bitcoin only exists as an investment proct in China, and there is no practical application. There is still a long way to go for the application landing. However, there are a lot of pyramid schemes under the guise of bitcoin in China, so users should be cautious in their investment. If it's bitcoin Xiao, it's suggested to go to bitcoin home www.btc798.com Check the relevant information, study bitcoin, and consider whether to invest.