Logic behind bitcoin
The concept of bitcoin was first proposed by Nakamoto on November 1, 2008, and was officially born on January 3, 2009. According to the idea of Nakamoto, the open source software is designed and released, and the P2P network on it is constructed. Bitcoin is a virtual encrypted digital currency in the form of P2P. Point to point transmission means a decentralized payment system
bitcoin network generates new bitcoin through "mining". In essence, the so-called "mining" is to use computers to solve a complex mathematical problem to ensure the consistency of bitcoin network distributed accounting system. Bitcoin network will automatically adjust the difficulty of mathematical problems, so that the whole network will get a qualified answer about every 10 minutes. Then bitcoin network will generate a certain amount of bitcoin as block reward to reward the person who gets the answer
reference link: http://wuhan.pbc.gov.cn/wuhan/2929354/3393665/index.html
The price of a bitcoin soared from more than $20000 to $40000. This can not help but arouse my research interest, or simply understand what bitcoin is, what its mechanism looks like, and uncover its mystery. Therefore, after a simple search of some information and some understanding of the special currency, I sorted out the information on hand< (3) purpose: decentralize, rece risk
all servers in the distributed network can store and process data, and each server has equal status, which can store more data and has higher security<
this is the general content of popular science. If you want to know more about it, you can take a look at Nakamoto's paper and the official popular science video below
2020 is a magic year. Although there are many troubles from the beginning of the year to the end of the year, asset prices are rising very well
let's look at the performance of all kinds of assets:
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here's another interesting thing. In the first seven months of bitcoin coming out, the creator Nakamoto Tsung mined 1.1 million bitcoins himself, accounting for 6% of the total amount of bitcoins. These bitcoins have been left untouched, and now are worth nearly $40 billion
If a market has the four characteristics of high leverage, drastic price fluctuation, limited trading volume and high concentration, then the market is a perfect Chinese chive cutting market
we have done a previous issue of the hunt brothers silver speculation. After hoarding a large proportion of silver, the hunt brothers in the United States manipulated the prices in the futures and spot markets to reap the silver investors in the market. Today's bitcoin market is a bit like the silver market of that year
before any asset bubble bursts, there will be lots of people making money. What is the upper limit of the bubble? How high will the price go? How crazy can market sentiment be? None of this can be predicted
a rational investor should not be distracted by the soaring price, but should carefully think about two questions outside the fanatical market sentiment. Do I really understand the investment logic behind this thing? Is it really worth so much money
if you're like me, you'd better not take part in this kind of incomprehensible excitement
the news conference of gemcoin, the us rich monetary fund, was held at 11:08 a.m. on October 4, 2014 at Sheraton flushing hotel in New York
on behalf of Steve Chen, group president, Leonard Johnson, vice president of the US Regal monetary fund, announced to the New York public that gemcoin has been officially issued since September 1, 2014, and introced the intrinsic value of gemcoin, which has high appreciation potential and wide liquidity
in his speech, he affirmed the influence of gemcoin in the field of international virtual currency and the stability of its value
gemcoin issued by the us rich monetary fund is supported by AFG group's gem mines all over the world and will have wide circulation
gemcoin, the us rich monetary fund, held a grand press conference in New York on Saturday_ Figure 1-2
gemcoin is mainly circulated in gem mining and financial circles, with huge circulation. Gemcoin has gemcoin equivalent sales of the fund, issue gemcoin equivalent gifts (for example, invest $10000, get $10000 gem and get $10000 gemcoin)
the U.S. Regal monetary fund belongs to the monetary fund of AFG group, whose value is endorsed by AFG group
AFG group was founded in 2002, registered in Delaware, USA, and headquartered in Los Angeles. It is a large multinational enterprise. AFG group invests in finance, real estate fund (REIT), real estate, mining (GEM), auction, communication, biotechnology and aviation equipment. Our business covers North America, South America, Europe, Asia and Australia. The global total assets of the group reach more than 50 billion US dollars
all these have laid an incomparable market foundation for gemcoin and kept its value relatively stable
Gem Coins will be issued at US $0.05 from September 1
bitcoin has increased by 16257 times from the initial $0.06 issued in 2009 to the highest $979.45
virtual currency refers to non real currency. When virtual currency is linked with reality, virtual currency has its real value and can be traded and used to purchase goods and services. With the promulgation of ab-129 act, virtual currency has become a legal means of payment
virtual currency is mainly divided into the following categories:
1. Internet based digital currency represented by bitcoin
2. The points, vouchers and vouchers issued by businesses have commercial currency
however, the above two currencies have their own limitations. First, digital currency itself has no value. Its origin is a series of computer digital codes, and digital currency can only be used for circulation if it is accepted by both the payer and the payer. At the same time, its security has been widely questioned; The commercial currency issued by the merchant has a certain intrinsic value, which is often guaranteed by the merchant to pay, and can only be used to purchase the goods or services designated by the merchant. Both digital currency and commercial currency need a large number of users to be widely circulated
gemcoin issued by the us rich monetary fund is a new generation of virtual currency based on digital currency and commercial currency, which has carried out financial innovation. It abandons the inherent defects of traditional virtual currency and has high appreciation potential and wide liquidity
first of all, gemcoin has its intrinsic value. Its value is supported by gem mines all over the world by the holding group of American Regal Monetary Fund. At the same time, gemcoin will have wide circulation. The holding group of American Regal Monetary Fund has US $50 billion assets, and its business covers North America, South America, Europe, Asia and Australia, with more than 2 million users in the world, 3000 gem chain stores will be set up, all of which have laid an unparalleled market foundation for gemcoin
bitcoin has increased 16257 times from $0.06 originally issued in 2009 to $979.45, but it has no intrinsic value. There is no doubt that gemcoin, backed by the us rich Monetary Fund and gems, will surpass the brilliance bitcoin once created
gemcoin is strongly backed by AFG group and gem minerals, which has more room for appreciation and will lead the new trend of currency.
according to the above logic, if bitcoin abandons the road of becoming the world currency and payment currency, it means that it will not challenge the government's bottom line (such as currency issuance right) and will not affect the country's financial security. With the more mature and stable implementation of bitcoin foundation, the positioning of digital gold has been recognized by more and more people, Then the government may take the initiative to allocate bitcoin. Just as the government allocates a certain amount of gold, this is undoubtedly a huge benefit compared with the special currency