Bitcoin computing power 51

1. In fact, people will not let such a thing happen, because once someone controls 51% of the computing power of the whole network, the security and non tamperability of the system will be invalid, then the decentralization system of bitcoin will collapse, and the price of bitcoin will plummet or even return to zero, which is bad news for the participants of the whole network. Therefore, we will spontaneously control the distribution of computing power in the whole network, so as not to let one company dominate. Even when many people find that the computing power of a certain mine is too large, they will take the initiative to withdraw from the mine. Now the most powerful mining pool in the whole network accounts for about 25% of the whole network.

2.

It's not against the law

The laws and administrative regulations in China do not prohibit the proction, holding and legal circulation of bitcoin, nor do they prohibit the sale of bitcoin mining machines

2. The investment and transaction of "virtual currency" represented by bitcoin are on the rise. For this kind of virtual goods generated in the Internet environment after the development of Internet technology, there are policy and commercial risks in related transactions. However, under the premise of not violating the mandatory provisions of laws and administrative regulations, the contract signed by the parties is a valid contract

3. Bitcoin is generated by "miner" and "mining", and "miner" can be assumed by anyone in any place in the world. "Mining" is a process in which "miner" provides certain computer computing power according to the open source software provided by the designer, and obtains the special solution of the equation through complex mathematical operations, The miner who gets the special solution gets a certain amount of bitcoin reward

Because bitcoin is based on workload proof, it is related to computing power. To have computing power, we need to consume power, so its power consumption is very large. It is precisely because of such a large power consumption that the safe and stable operation of bitcoin system can be guaranteed

extended information:

according to the data of btc.com website, up to now, the computing power of the whole bitcoin network is about 51.65 eh / s, which is equivalent to 1.84 million bitcoin S15 (28T computing power, 1596w power) mining machines in operation, and the daily power consumption is about 69.92 million kwh. Divided by the current proction of 1800 bitcoins per day, excluding other costs, each bitcoin will consume 38800 kwh of electricity. "

from this point of view, although the current price of bitcoin is expensive, the cryptocurrency market website coinmarketcap.com shows that the current unit price is about $7900, but the cost of mining a bitcoin is not low at all

3.

Bitcoin is a kind of network virtual electronic currency, and its price has experienced roller coaster like ups and downs. It has no physical support, to put it bluntly, a string of computer code. Personally, I think this is a very unreliable thing. The Internet bubble is very big. In November 2013, the price of bitcoin once reached a high level of 8000 yuan / piece. Subsequently, the central bank, together with five ministries and commissions, issued the notice on preventing bitcoin risks, and the price of bitcoin plummeted. Now the price of bitcoin is more than 2300 yuan / piece

Jingxuan finance didn't you send a lot of articles a few days ago. China is now investigating bitcoin. Crash

4. There is a binice digital trading platform with formal registration certificate, operation photo taking and supervision mechanism, safe access to gold and formal platform.

5. No visual inspection. Although the idea is good, if you can, then there will be hackers.

6. The so-called 51% attack is to take advantage of bitcoin's ability to use computing power as a competitive condition to cancel the payment transactions that have already taken place

if someone has mastered more than 50% of the computing power, he can find the random number needed for mining blocks faster than others, so he actually has the absolute effective right of which block
he can:
1. Modify his own transaction records, which enables him to make double payments
2. Prevent the block from confirming some or all of the transactions
3. Prevent some or all of the miners from mining into any effective block

7. BSC BTS
is called ABIS port
BTS and MS
is called um port, that is, air interface
there are actually two interfaces between BSC and MSC, because there is also a TC mole, and the two interfaces are ater port and a port respectively.

8. Let's say that the value of bitcoin is basically equal to the cost of mining, and the server cost is the rent of renting the server for one year. The bitcoin exchange rate is about $1000 a bitcoin. At present, 25 bitcoins are generated in 10 minutes, that is, about $25000 per 10 minutes, 150000 per hour, 3.6 million per day, and about $1.28 billion per year. If you want to maintain 51% of the computing power for one year, that is, you need to increase the computing power equivalent to $1.3 billion of server rent. If we want to maintain the short-term computing power, the price will not necessarily decrease a lot, because the price of short-term renting servers will be much higher. And the current mining machinery is basically ordered directly like the manufacturer, the actual cost is much lower than renting the server. Therefore, the cost of launching a 51% attack on bitcoin is not low
please accept if you are satisfied

9. If one has more than 51% of the computing power of the whole network, he can control the authenticity of the information in the new bitcoin block, and he can succeed in double spending