Bitcoin is about one block
the price of bitcoin is always floating, so the price of bitcoin for RMB is always changing. From the beginning, a few years ago, when bitcoin was converted into RMB, it was only one to several, and finally it graally developed to one to more than ten, and then to one to dozens. At this time, it has been very shocking, and many people think it is a very strange phenomenon, As a virtual currency, although many people don't know what its main function is, most people think it's a bit similar to stocks, so they made a series of investments in bitcoin. Until January 2020, the value of bitcoin has grown crazily, rising to nearly 1:47000 this growth rate has exceeded most excellent stocks. Many people are shocked and often want to understand why this phenomenon occurs. In fact, my analysis is mainly caused by the following reasons:
3 Of course, one of the main reasons why the price of bitcoin has risen so fast is also related to the psychology of chasing up and killing down. For example, when many stocks have been rising, more people will buy them, but when they are falling, many people withdraw because of fear. So far, bitcoin's rise is still very large, Therefore, some people think it has investment value, so they have been buying it
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
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
does each node have complete blockchain data? You mean a user node? A user node needs to keep the of the block head of the longest workload proof chain, so it knows the data of all the block heads. It can move forward to know all the data on the block chain, but not all of them are saved. A block header is very small, only 80 bytes, which can be saved completely, because the generation of nodes is very slow. Even with the passage of time, the amount is not too large now.
2. Unlike all currencies, bitcoin does not rely on specific currency institutions. It is generated by a large number of calculations based on specific algorithms. Bitcoin economy uses the distributed database composed of many nodes in the whole P2P network to confirm and record all transactions, and uses the design of cryptography to ensure the security of all aspects of currency circulation. The decentralized nature and algorithm of P2P can ensure that it is impossible to artificially manipulate the value of bitcoin through mass proction. The design based on cryptography can make bitcoin only be transferred or paid by the real owner. This also ensures the anonymity of money ownership and circulation transactions. The biggest difference between bitcoin and other virtual currencies is that the total amount of bitcoin is very limited and it has scarcity
warm tips: ① the above contents are for reference only, without any suggestions. The relevant procts are issued and managed by the corresponding platform or company, and our bank does not undertake the responsibilities of investment, cashing and risk management of the procts. ② There are risks in entering the market, so investment should be cautious. Before making any investment, you should make sure that you fully understand the nature of the investment and the risks involved in the proct. After a detailed understanding and careful evaluation of the proct, you can judge whether to participate in the transaction
response time: March 12, 2021. Please refer to the official website of Ping An Bank for the latest business changes
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