What key issues does bitcoin solve

1. At present, only a few algorithms of virtual currency are meaningful, such as XPM (prime currency, used to solve prime numbers), GRC (Greider currency, used for scientific operation), etc. I have been using CPU to dig XPM, although my income is limited. In fact, these currencies also have the excellent properties of bitcoin, but they are not favored by most virtual currency lovers. The price is very low, which is really distressing.

2. Hello, questioner:
in the very early days, when the computing power of bitcoin was very low, the computer could also carry out a lot of calculations according to the algorithm to "mine" bitcoin

when users "mine" bitcoin, they need to search for 64 bit numbers by computer, 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 group of numbers, they will get the bitcoin awarded by the block. However, e to the rising value of bitcoin, the number of users of bitcoin mining is very large. There are millions of professional mining machines mining at the same time, and the output of bitcoin is very limited every 10 minutes. As a result, tens of millions of people scramble for a block. Therefore, if you use personal computers to mine alone, you may not be able to grab a block in a whole year, People came up with a method of group mining, so the mining pool was born. There are a lot of users who play after mining
I hope you will adopt it.

3. 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 and equipment in online games. Internet users can also use bitcoin to buy real goods
the concept of bitcoin was first proposed by Nakamoto in 2009. According to Nakamoto's ideas, 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
unlike most 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 a distributed database composed of many nodes in the whole P2P network to confirm and record all transactions, and uses cryptography design to ensure the security of all aspects of currency circulation.

4. It's OK to play. It's hard for you to recover the capital in a short time. You don't want to make money in a short time. Which miner will sell it to you? I g it myself

5.

At present, there are more than 230 countries in the world. Basically, each country has its own currency, but the value of different currencies is different. Some countries can buy a lot of things with a note, while some countries may not be able to buy a jin of eggs with a basket of currencies

as for the currency with the highest and lowest value mentioned in your topic, we can understand it from two aspects, one is denomination, the other is value

let's first look at the world's largest denomination currency

under normal circumstances, the denomination of most national currencies is basically less than 100 yuan, mainly one yuan, two yuan, five yuan, 10 yuan, 20 yuan, 50 yuan and 100 yuan. However, in some countries, after serious inflation, ordinary currency denomination can no longer meet the needs of proction and life, so they can only issue large denomination currencies to cope with the growing inflation. The most typical ones are Zimbabwe and Venezuela. For example, on June 13, 2019, Venezuela issued 10000, 20000 and 50000 sovereign Bolivar large denomination currencies, trying to curb Venezuela's vicious animal inflation in this way

However, Venezuela's 50000 denomination currency is not the largest denomination in the world at present. The largest denomination in the world should belong to Zimbabwe's currency. At present, Zimbabwe's largest denomination currency is 100 billion yuan. However, in recent years, the largest currency issued by Zimbabwe reached 100 trillion yuan, that is to say, there are 14 zeros behind a single currency

according to the official regular currency, the smallest denomination at present should be about one cent, which is also available in China

next, let's look at the world's highest value currency

if virtual currency is also considered, then the most valuable currency at present belongs to bitcoin, because at present a bitcoin is equivalent to about $10000

of course, bitcoin is only a virtual currency, not used for normal circulation, so it should not be compared with normal currency. If we only consider the national currency in normal circulation, the highest value in the world at present is the Dinar of Kuwait, which is about 22.5 yuan

if we only consider the value of a single note, the highest value of a single note in the world is Euro 500 denomination

As for the currency with the lowest value in the world, I don't think we all know that it is the currency of Zimbabwe< br />

6. In 018, the explosive development of blockchain technology was much like the Internet in 1997. I believe that the development of blockchain technology will certainly be faster than the Internet. If you don't take in some knowledge of blockchain, maybe you will fall behind an era. This article will answer several questions about bitcoin
question 1: how was bitcoin born
on November 1, 2008, a person who called himself Satoshi Nakamoto posted a statement on micro v-bq Er Wu Ba y on a secret cryptography review group (cryptopunk), stating his new idea of e-money bitcoin
question 2: how to proce bitcoin
bitcoin network generates new bitcoin through "mining". In essence, the so-called "mining" is to solve a complex mathematical problem with a computer to ensure the micro v-bq consistency of the bitcoin network distributed accounting system. Bitcoin generates a block every 10 minutes, which contains all the transaction information in the past 10 minutes. Whoever can work out the figures will get the right to keep accounts. After obtaining the accounting right, it will broadcast and store to the whole network. It's uncertain who gets the bookkeeping right. Of course, the stronger your computing ability is, the higher the probability of getting the bookkeeping right is. Then the bitcoin network will generate a certain amount of bitcoin as a reward to reward those who have the right to keep accounts
question 3: what are the characteristics of bitcoin
it is impossible to control the number of issues without a fully decentralized issuing institution. Bitcoin does not need a third-party organization, and it is a peer-to-peer transaction with mutual trust. The establishment of trust is no longer based on large institutions, but on cryptography and code. Bitcoin can be managed on any computer connected to the Internet. No matter where you are, anyone can dig, buy, sell or collect bitcoin. The private key is needed to control bitcoin. It can be stored in any storage medium in isolation, and no one can get it except the user himself. As a means of payment from a to B, bitcoin has no cumbersome limit of quota and proceres. You can pay when you know the address of the other party's bitcoin
question 4: can bitcoin be imitated
it is difficult for the cat 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. However, these counterfeit currencies are 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 Shanzhai 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
question 5: why is the total amount of bitcoin 21 million
when bitcoin was born in 2009, each 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 bounty will be halved to 25. When the total amount reached 15.75 million (5.25 million new output, or 50% of 1050), the bounty was further halved to 12.5. And so on. According to its design principle, the total amount of bitcoin will continue to grow until it reaches 21 million more than 100 years later. However, the growth rate of bitcoin micro v-bq in the later period will be very slow. In short, bitcoin proction is halved every four years, and currently 12.5 bitcoins are proced every 10 minutes. In fact, 87.5% of bitcoin will be "g up" in the first 12 years. Moreover, 21 million is only theoretical data. In reality, e to the neglect of bitcoin in the early stage, many bitcoins were lost
question 6: what are the benefits of bitcoin miners
first of all, bitcoin will be rewarded directly after obtaining the bookkeeping right through calculation. But according to bitcoin's rules, as time goes on, the rewards will be less and less. In the future, the income will mainly come from the service charge generated by bitcoin transaction
question 7: why can't bitcoin be modified
for example, if a and B trade, a needs to pay B 100 bitcoins. But if a wants to default, he just wants to pay B a bitcoin. According to the rules of bitcoin, he has to obtain the bookkeeping right of the next 10 minute micro v-bq Er Wu Ba y before he can modify it; Similarly, he has to get another 10 minutes of bookkeeping rights, and so on. So modification is almost impossible
question 8: bitcoin transaction rate
theoretically, the bitcoin transaction rate is 7 transactions per second. In fact, bitcoin currently trades at only one transaction per second
question 9: why does bitcoin have such a strong vitality
if bitcoin is compared to a company, then it has no board of shareholders, board of directors, management, strict leadership, HR, Department Manager, staff, operating site and income. However, bitcoin has been running successfully for nine years without any problems, and its market value is hundreds of billions. The operation of the network relies on a set of mathematical algorithms, incentive mechanism and community for management and governance
question 10: what are the problems facing bitcoin
first, the transaction confirmation time is long. When bitcoin wallet is first installed with micro v-bq-y, 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
Second, the public does not understand the principle, and the traditional financial practitioners resist. People who understand the principle know that bitcoin is not manipulated and controlled by a legal person. But the public doesn't understand, and many people can't even tell the difference 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.

7. Bitcoin solves a technical problem, not an economic one

8. 1. It is impossible to control the number of issues without the issuing institutions. 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. It is difficult for the cat 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 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 Shanzhai 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.

9. Don't use the computer to dig. Now it's almost impossible to dig. It costs electricity and damages the computer. In addition, the computing power of GPU and CPU is not at the same level. The GPU is too high.