Bank comparison of the world
There are only 21 million bitcoins
"graphics card mining" is a joke. In fact, it is running a specific algorithm to generate bitcoin through a large number of calculations
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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 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. 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
bitcoin lacks stability, so it doesn't have "inherent value", it's just a virtual proct. If we recognize its legitimacy, it will have a significant adverse impact on the banks of all countries, and even can replace the currencies of all countries. Finally, a few people will manipulate the world's monetary system, which is a very dangerous existence. It's not money. Whether it's legal or not depends entirely on whether a country recognizes it as legal or not< At present, the United States, China and South Korea all think it is not a currency. Among the big countries, bitcoin is only recognized as the "unit of account" by the German Ministry of finance, but it is only a unit of account, which does not mean that it is mainly a currency.
according to foreign media reports, with the growing popularity of bitcoin, central bank governors around the world have also expressed their views on this digital currency
Federal Reserve Bank of the United States
in December last year, at the monetary policy meeting of the Federal Reserve Bank of the United States, Janet Yellen, chairman of the Federal Reserve Board, was asked what she thought of bitcoin
According to Yellen, this kind of digital currency is a "highly speculative asset" and "cannot be legal tender". She added that it "plays a negligible role in the payment system" and that it "is not a stable store of value.""the Federal Reserve Bank will not make any policy on bitcoin. Instead, we will only ensure that the banking institutions we supervise pay close attention to digital currency and properly manage their interaction with traders in the market. Moreover, we will monitor whether these banking institutions have fulfilled their responsibilities to combat money laundering and ensure the safety of banks. " Yellen said
at the end of November last year, Jerome Powell, who will replace Yellen as chairman of the Federal Reserve in February this year, also expressed his views on cryptocurrency. Cryptocurrencies "don't matter now" because "they're not big enough," he said
According to Powell, the financial risk brought by digital currency to the financial market is minimal“ They're not big enough, they don't matter now. " He saidEuropean Central Bank
in October last year, Mario Draghi, President of the European Central Bank, said that cryptocurrency was not "mature" enough for the central bank to regulate management
"for anything new, people are always full of expectations, but also feel very uncertain. Now, as far as bitcoin and other cryptocurrencies are concerned, we don't think they are mature enough for us to consider standardized management. " He said
Draghi pointed out that tools like bitcoin have both advantages and disadvantages, and we need to weigh them carefully
"a lesson of the great financial crisis is financial innovation. As far as bitcoin is concerned, it is a financial and technological innovation. We should pay close attention to its potential risks while paying attention to it. " He said
Bank of Canada
in December last year, Stephen poloz, President of the Bank of Canada, also spent some time discussing cryptocurrency. He claims that buying digital currency is a gamble, not an investment
"perhaps no one can say clearly what their real value is. One can at most say that buying digital currency is buying risk. This makes it closer to gambling than investment. " "For people who want to buy cryptocurrency, what I want to say is that you should read the collateral to make sure you know what you're investing in," boloz said
According to boloz, the demand for digital currency will increase in the future. He added that the Central Bank of Canada was studying whether to issue its own digital currency"bank staff are studying the conditions under which the central bank is more suitable to issue its own digital currency for retail transactions." He said
Reserve Bank of Australia
in December last year, Reserve Bank of Australia President Philip Lowe talked about bitcoin in a speech. He pointed out that this kind of digital currency will not be used in daily payment activities, and it can not be accepted so soon
According to Lowe, the reason is that the price of bitcoin is extremely unstable, the number of payments that can be processed at the same time is limited, the transaction and electricity costs are too high, and the management is too difficultmoreover, when bitcoin is only used as a payment tool, it "is more likely to attract those who want to trade in black or illegal economic activities."
Bank of Japan
at the end of 2017, Haruhiko Kuroda, President of Bank of Japan, said the price fluctuation of bitcoin was "extremely abnormal"
when asked if there will be a bubble in bitcoin, he replied, "I may not be qualified to evaluate it, but if you look at its trend, you will see that its price fluctuation is very abnormal. If you want to ask whether bitcoin has the same function as money, that is, as a payment or settlement tool, then my answer is No
investment should be cautious and private letter from mining machinery is needed
bitcoin lacks stability, so it doesn't have "inherent value", it's just a virtual proct. If we recognize its legitimacy, it will have a significant adverse impact on the banks of all countries, and even can replace the currencies of all countries. Finally, a few people will manipulate the world's monetary system, which is a very dangerous existence. It's not money. Whether it's legal or not depends entirely on whether a country recognizes it as legal or not< At present, the United States, China and South Korea all think it is not a currency. Among the big countries, bitcoin is only recognized as the "unit of account" by the German Ministry of finance, but it is only a unit of account, which does not mean that it is mainly a currency.
anyone with a little common sense knows that a legal formal platform has at least an official website.
the birth of bitcoin was originally a protest against financial hegemony. Today, the United States has to pay for the $500 billion. Bitcoin's purpose is to create a new currency through consensus and trust among people. Bitcoin's purpose is to set the price with the participation of all members and determine the price through the free mechanism of the market, And his proction cost is the cost of equipment and electricity
no one forces anyone to join the coin circle, but the third halving of bitcoin in May 2020 will be a milestone. I don't know if bitcoin will be accepted by nobody as you said. But one thing is for sure: no matter how many non coin circle people question whether bitcoin is a pyramid scheme or has no real value, bitcoin can't be eliminated, Because his value belongs to all the people who hold and trust the consensus. If you have doubts, just watch him quietly, and let time prove the rest.
In fact, there is one more detail that we need to pay attention to, that is, the price of bitcoin has been directly reced from US $60000 to US $52000, and countries have directly indicated that they will strengthen supervision. Before that, you should know that the price of bitcoin soared from more than 10000 US dollars to 60000 US dollars. It's boring. Why didn't the regulators of various countries directly intervene in such a long period of time? So today we will discuss the factors that affect the fluctuation of bitcoin{ Third, the confidence of consumers or investors
in the past few months, bitcoin's long-term success is that the manual has brought her a high degree of popularity, and at the same time, its price has gone up by leaps and bounds. But everyone is tired. After seeing some information about bitcoin for a long time, we are not very interested. The visual impact of tens of thousands of dollars has lost any freshness. In this case, everyone's investment enthusiasm for bitcoin will naturally decline, which will lead to its price decline