Which government supports bitcoin
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.
at the end of June 2013, after the German parliament decided that bitcoin would be tax-free if it was held for more than one year, bitcoin was recognized as a "unit of account" by the German Ministry of finance, which means that bitcoin has been regarded as a legal currency in Germany and can be used to pay taxes and engage in trade activities< In August 2013, judge Amos mazant of Texas District Court ruled in a case of bitcoin virtual hedge fund that bitcoin is a kind of currency and should be included in the scope of financial regulation
legal status
bitcoin can still be considered as legal at present. In the world, bitcoin can be regarded as a virtual commodity and protected by law; If bitcoin cannot be officially recognized as a kind of currency by law, it may bring inconvenience to the businesses and indivials who accept bitcoin in tax declaration, because the businesses who accept bitcoin will be regarded as barter transactions, and such transactions are more troublesome than ordinary transactions in tax declaration
at the same time, bitcoin, as a commodity highly similar to currency, needs to meet the demand of anti money laundering. Bitcoin needs to be included in the personal property declaration, banking anti money laundering system, anti insider trading, anti market manipulation and other systems in terms of transaction and possession. Bitcoin exchanges and storage institutions may also need government supervision and licensing. Some fast-growing bitcoin exchanges and payment service providers are actively exploring cooperation with regulatory agencies to bring bitcoin payment into the regulatory framework of anti money laundering and anti-terrorism financing by applying for licenses and actively communicating with regulatory authorities
in Europe, the European Central Bank published a report on "virtual currency architecture", and the French bitcoin trading platform obtained the PSP qualification. On December 6, 2012, the central bank wrote in the report: "this report is the first attempt to provide a basis for discussing the virtual currency system. While these systems may play an active role in financial innovation and in providing consumers with alternative means of payment, they also clearly create risks. " "Because of the small size of virtual currency systems, these risks do not affect anyone other than the users of these systems," the report added The report reviews the history of bitcoin and reviews its basic features, including currency and technical operation.
the emergence, development, amendment, circulation and extinction of bitcoin do not depend on the government, so "whether the government allows" has nothing to do with "whether bitcoin exists"
for example, the birth, development and extinction of the solar system do not need the permission of the government
if bitcoin is exchanged with the government controlled "legal tender" (such as US dollar), the government can influence the performance of bitcoin by controlling the legal tender
if the recognition of such assets reaches the bottom line of% 35 in 2019, the world pattern will be more reasonable, transparent and open
how should we deal with the coming risks- Buy bitcoin quickly to deal with the risk of "no bitcoin".
On the afternoon of December 5, 2013, the people's Bank of China issued the notice on preventing bitcoin risks. In the notice, the people's Bank of China said that bitcoin is not a currency, but a virtual commodity. Financial institutions and Payment institutions are not allowed to carry out business related to bitcoin. As soon as the notice was issued, bitcoin fell sharply on China's trading platform, and it has dropped by 60% in three weeks. This is the beginning of bitcoin being restricted by the Central Bank of China. In mid March 2014, the people's Bank of China issued a notice on further strengthening bitcoin risk prevention to all branches of the people's Bank of China, which required all banks and third-party payment institutions to close the trading accounts of 15 domestic bitcoin platforms before April 15. This shows that it is illegal for financial institutions in China to open trading accounts for bitcoin website platforms. Except for cash transactions, bitcoin investors can not conct bank transfer and third-party payment for transactions in China< br />
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
on December 17, 2017, bitcoin reached an all-time high of $19850.
Eth is Ethereum, an open source public blockchain platform with smart contract function. It provides decentralized virtual machine (called "ether virtual machine") to process point-to-point contract through its special cryptocurrency, ether (also known as "ether virtual machine")
can be traded in many foreign exchange markets of cryptocurrency, and it is also the medium used to pay transaction fees and computing services on Ethereum
extended data
compared with most other cryptocurrency or blockchain technologies, the characteristics of Ethereum include:
1. Smart contract: the program stored in the blockchain is run by each node, and the person who needs to run the program pays the handling fee to the miners or equity holders of the node
2. TERT block: merge the short block chain which is not received by the parent chain in time e to its slow speed
Proof of rights and interests: compared with proof of workload, it can save a lot of computer resources wasted in mining and avoid network centralization caused by special application of integrated circuit Not yet implemented)4. Lightning network: it can improve the transaction speed, rece the burden of blockchain, and improve the scalability Not yet implemented)
5. The development community is stable, growing, and brave in using hard forks