How many bitcoins were issued in the first five years

1. The concept of bitcoin was first proposed by Nakamoto on November 1, 2008, and was officially born on January 3, 2009[ 1] &# 160; 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
unlike all currencies, bitcoin does not rely on a specific currency institution to issue. It is generated by a large number of calculations based on a specific algorithm. 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. 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 a strong scarcity.

2.

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

3.

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

4. 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. The biggest difference between bitcoin and other virtual currencies is that the total number of bitcoin is very limited and extremely scarce. The total number of bitcoin is about 21 million. At present, 17 million bitcoins have been mined
warm tips:
1. The above explanations are for reference only, without any suggestions
2. Before investing, it is recommended that you first understand the risks existing in the project, and clearly understand the investors, investment institutions, chain activity and other information of the project, rather than blindly investing or mistakenly entering the capital market. Investment is risky, so we should be cautious when entering the market
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5. The total number of bitcoin is 21 million, and it will never be over issued. Its founder quit the bitcoin circle in 2010, and now more than half of the bitcoin has been mined. The price of bitcoin has graally returned to rationality after the madness in 2013. However, at present, it is only a small-scale socialization experiment.

6. The former bitcoin is less and less, and it is more and more difficult to find. It is said that those who really dig for coins will use high-end or even the top graphics card SLI or CF, and the power consumption of the host computer is amazing (the electricity bill may be more expensive than the bitcoin g).

7.

About 400 percent

when bitcoin first appeared in 2009, one dollar could buy almost 1300 bitcoins. Before April 2011, the price of each bitcoin was always below $1. In June 2011, the highest price of bitcoin rose to $30. Then, the price almost fell within a week. In 2012, the price of bitcoin once fell below $2

further dropped to $114 on January 14, 2015. Since then, bitcoin has begun to rise again. In 2017, after the bitcoin ETF fund was rejected by the US Securities Regulatory Commission, bitcoin plummeted by $315 to below $1000. After that, it rose again. In the first four months of this year, the price of bitcoin and an ounce of gold were almost equal

However, with the strong rise of bitcoin in this round, the price of bitcoin has exceeded the price of an ounce of gold. On April 26, the price of bitcoin was $1282.97, compared with $1264 for an ounce of gold. Bitcoin has surpassed gold in price

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in 2016, there were dozens of bitcoin exchanges in the world, and the trading volume of bitcoin in most countries and regions increased sharply. Among the countries and regions with the highest growth rate, the trading volume of bitcoin in Japan is second only to China, ranking second in the world; The local bitcoin trading volume in Venezuela increased by more than 913%

South Korea has become the sixth largest bitcoin trading market in the world, Korean people can buy bitcoin from a large number of convenience stores, and korbit's trading volume currently accounts for 70% of the South Korean market; Local bitcoin transactions in Colombia increased by about 370%; Bitcoin markets in Malaysia, Russia and Australia are also developing rapidly. Bitcoin trading in China once accounted for more than 80% of the global trading volume

8. If it's Jiangbei driving school, take bus No. 19.18.1 at the railway station, go up about 1000 meters at Jiangbei crossing, or get off at Jiangbei crossing and wait for bus No. 15, but bus No. 15 is slow, every 15 minutes. Taxi is to hit the table, start seven, go to Jiangbei driving school ten money is almost enough. If it's Taoyuan driving school in Erjiang, the method is the same as above, just get off at Taoyuan driving school. The station is called "driving school". If it's not for the above two driving schools, you can get off at the railway station, get on the aisle, and wait for the third line bus on the opposite side. The ticket is $1.5.
it's a special bus from Tonghua to Erjiang, and take a taxi to the driving school you want to go to after you get to Erjiang. Erjiang's taxis are basically at a buy it now price.

9. This is an innovative privately issued currency, regardless of its possible future value. At the beginning of its issuance in 2009, 1 US dollar = 1300 bitcoins were converted into RMB 1 yuan = 220 bitcoins. One bitcoin was about 0.0045 yuan, and yesterday's peak was close to 6000 yuan = one bitcoin. six thousand ÷ 0045 = 1.33 million. In other words, bitcoin has increased by 1.33 million times in five years since it was issued

10. At present, the circulation of bitcoin is about 11 million

bitcoin does not have a centralized issuer, but is calculated and generated by network nodes. Anyone can participate in the proction of bitcoin

but bitcoin is not issued in unlimited quantity, and its circulation will be controlled by software algorithms. According to relevant algorithms, the more bitcoins there are, the more difficult it will be to make new ones.