Why is bitcoin not traceable

2. First of all, let's talk about the background. The basic principle of bitcoin "account" is key public key address. You can roughly understand it as "key box box number". Now is to start from the box number or box to crack the key
there are basically two kinds of attacks, one is dictionary attack, the other is brute force attack
dictionary attack is to use common passwords and their simple variants as keys one by one. As long as your pass phrase is not hard enough, the possibility of successful attack is very high. So if you want to use this, you need to popularize the knowledge of cryptography first, and don't think it's very safe to add a long password
if you don't use the wallet generated by pass phrase, you can only crack it violently, which is equivalent to enumerating all the possible keys. At present, this is impossible, even if the electronic computer is becoming more and more powerful. However, quantum computer can do it theoretically, but don't worry too much. If such a powerful quantum computer comes out, it will not only endanger bitcoin
at the same time, bitcoin has a second layer of protection: if an address only accepts bitcoin but does not output it, its public key is confidential, that is to say, no one else can see the box, only the box number. At present, the process of decing the box from the box number can't even be done by quantum computer. In other words, if there is a quantum computer, bitcoin has a last line of Defense: it's temporarily safe to transfer your money to a new address
finally, some time ago, the wallet generated by the Android client was attacked because of a bug in the underlying random number generator. In fact, this function is not random securerandom, which Google quickly admitted and fixed. It's hard to say whether this kind of thing will happen again, but I don't think we need to worry too much.

3.

Bitcoin is a kind of P2P digital currency

reasons for blocking:

1. Vulnerability of trading platform. The bitcoin network is robust, but the bitcoin trading platform is fragile. Trading platform is usually a website, which will be attacked by hackers or shut down by competent authorities

The transaction confirmation time is long. When bitcoin wallet is first installed, 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

The price fluctuates greatly. Due to the intervention of a large number of speculators, the price of bitcoin for cash fluctuates like a roller coaster. Making bitcoin more suitable for speculation rather than anonymous trading

4. The public did not understand the principle, and the traditional financial practitioners resisted. Active netizens understand the principle of P2P network and know that bitcoin has no legal person to manipulate and control. 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

extended materials:

the concept of bitcoin was first proposed by Nakamoto in 2009. According to Nakamoto's idea, the open source software was designed and released, and the P2P network on it was constructed. 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 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 feature and algorithm of P2P can ensure that it is impossible to artificially control the value of bitcoin by mass manufacturing. 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. 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 21 million

bitcoin can be cashed and converted into the currency of most countries. Users can use bitcoin to buy some virtual items, such as clothes, hats and equipment in online games. As long as someone accepts it, they can also use bitcoin to buy real-life items

on February 26, 2014, Joe Manchin, a Democratic senator from West Virginia, issued an open letter to a number of regulatory authorities of the US federal government, hoping that the relevant authorities would pay attention to the status quo of bitcoin's encouraging illegal activities and disrupting the financial order, and demanded that actions be taken as soon as possible to completely ban the electronic currency

from 12:00 noon on January 24, 2017, China's three major bitcoin platforms officially began to collect transaction fees

4. You can find the address, but you don't know whose it is

5. You are right. Indeed, it will be rolled back. If the transaction is unfortunately packaged on the fork, the transaction is likely to be cancelled after the main chain is synchronized

the reason why we need six confirmations is that it is more difficult to obtain the optimal solution (to prevent single node fraud). One block may also be able to get an optimal solution, and it is basically impossible to get six blocks together. It has nothing to do with bifurcation

6.

In the notice on prevention of bitcoin risks jointly issued by the people's Bank of China and other fifth ministries and commissions, financial institutions are prohibited to intervene in bitcoin, but at the same time, it holds that "bitcoin is a specific virtual commodity, does not have the same legal status as currency, and cannot and should not be used as currency in the market. However, bitcoin trading as a commodity trading behavior on the Internet, ordinary people have the freedom to participate at their own risk. "

according to the relevant national laws and regulations, buying and selling bitcoin is legal.

according to the statement of the five ministries and commissions, bitcoin is a commodity and is legal

so generally speaking, bitcoin can be traded publicly, but it needs to be traded on the corresponding exchange. However, the trading platform is centralized. There is only one article about the Chinese government's policy on bitcoin. Please refer to the website link

7.

Research firm chainanaalysis estimates that up to 20% of the existing bitcoin is gone forever. At the time of the study, about 3.8 million bitcoins could never be retrieved. In this article, we will explore all possible ways to lose bitcoin

1. Cryptocurrency hackers

the hacker behavior of cryptocurrency exchange is the main reason for the loss of bitcoin. Exchanges are hot targets for cybercriminals, and Mt. GOx is the first high-profile cryptocurrency hacker. Since then, many major exchanges have been hacked, including bitfinex, bitstamp and cryptopia, the cryptocurrency exchange in New Zealand, which recently lost 9.4% of its total holdings

The deceitful international security and Development Council (IsdC)

the people who have new access to encryption technology have become the victims of false initial token issuance (ICO). They publicize themselves as a new cryptocurrency investment and will get high returns. They use "fear of missing" (fomo) because the project will never come true and the money will never be returned to investors. Experienced investors know how to analyze the project according to the team to assess whether they have the ability to fulfill their commitments, whether they have a minimum viable proct, etc. One of the most famous fraulent ICOS is centra, endorsed by Floyd Mayweather

8. Pump and mping program

coaxing and mping are price manipulation. Swindlers use social media groups to hype projects or tokens called "junk money". Because they have no added value or real use cases, their value will increase exponentially overnight. As soon as the value increases, fraudsters sell their tokens. Soon after that, the price of selling a large number of tokens drops sharply, resulting in huge losses for those who hold them for a long time or buy them at a higher price. Celebrities or people are also used to hype the so-called "ng money"

9. Refrigeration equipment is lost or damaged

many people start using bitcoin when it is not valuable. They throw away their old computers, misplaced hardware wallets, etc., or their computers are damaged

10. Careless

send bitcoin to the wrong address, some wallets and transactions, all options to prevent users from sending bitcoin to the wrong wallet (non bitcoin)

8. The differences between the science and technology innovation board and the new third board are as follows:
1. One is the OTC market, the other is the floor Market: the science and technology innovation board set up by Shanghai Stock Exchange is not comparable with the new third board. The new third board is equivalent to the equity trading center. It is an over-the-counter trading market. The companies listed there have very low stock liquidity and no popularity. The companies listed on the new third board can not get much money. The science and technology innovation board is different from the new third board. It is more similar to the growth enterprise board. It is an exchange traded stock board, equivalent to the "growth enterprise board" of the Shanghai Stock Exchange. At present, there are at least several million transactions in the gem every day, which is much higher than that in the new third board. After the establishment of the science and technology innovation board, the liquidity of the stocks in the science and technology innovation board is also better than that in the new third board

2. Different clients: both the new third board and the science and technology innovation board serve for small and medium-sized enterprises. The difference of the science and technology innovation board is that the enterprises listed on the science and technology innovation board must be scientific and technological innovation enterprises with a certain scale, and the listing conditions have higher requirements for the instry than the new third board. Related instries can refer to robotics, P2P finance, big data, artificial intelligence, etc. The new third board is mainly for the transition of local stock trading centers and floor markets. At present, the trading volume of the stock market is relatively small, and the requirements for listed enterprises are relatively loose

warm tips:
1. The above explanations are for reference only, without any suggestions
2. It is risky to enter the market and investment should be cautious

response time: August 19, 2020. Please refer to the official website of Ping An Bank for the latest business changes

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