Why can bitcoin be converted into currency

2. How to convert bitcoin into RMB detailed tutorial:
1. Log in to BTC China platform, click "trading center" and select "RMB recharge" to enter the page
2. You can recharge by BTCC code. The website shows the official agent of bitcoin China BTCC code. You can contact the seller to buy BTCC code through QQ
3. When you buy BTCC code in bitcoin China, you can recharge the account. The recharge code is divided into a and B. after the code is copied, click confirm to recharge
4. After the recharge is successful, you can see how to buy bitcoin. First click the trading market
5. Click BTC / CNY to trade, and then click the market price sheet to input the quantity of bitcoin you want to buy, In this way, you can check bitcoin.
6. Go to your account to check whether bitcoin has arrived. After arriving, you can see how to pay for the bitcoin wallet of MMM players

3. The central bank has stipulated that bitcoin can not be used as a means of payment in circulation

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

unlike all 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 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. 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

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

on September 4, 2017, the central bank and other seven ministries and commissions announced that China banned virtual currency trading

on December 17, 2017, bitcoin reached an all-time high of $19850

on November 25, 2018, bitcoin fell below the $4000 mark and is now stable at more than $3000.

in April 2019, bitcoin again stood at the $5000 mark, reaching a new high of the year.

5. Bitcoin is a virtual currency, which can only be hyped to let the next family take over the offer, and can't drink any currency freely. Hope to adopt it

6. For example, is there really a God in the world? Obviously not, but people still spend human, material and financial resources to Xinyang and worship, and come to the conclusion that there is still value in the existence and exchange of the false theory. Of course, this is different from bitcoin. In the process of bitcoin's generation, a person who seems to be a little famous suddenly put forward a theory, sales of storage currency. At the beginning, this kind of currency was only spread and entertained among a few people (assuming that there were 10000 people in the first year). Of course, these people only held the attitude of entertainment at the beginning, just like playing online games. The next year, suddenly a team or a number of (speculative group), suddenly feel this organic, began to buy at a low price, and grasp the market. When the time is ripe, the whole world will know about this kind of currency by means of media and economic people. The number of participants will increase from less than 50000 to one million, and tens of billions of capital will flow in. I remember the most popular time was at the end of November, when the price of a bitcoin was 7900, but there were many reports at that time that it could rise to 400000, At this time, the speculative teams felt that it was impossible to go up again and began to sell a lot of bitcoin. As a result, the price of bitcoin fell by about 4000 in less than a month. These teams made a lot of gold and silver. However, because there are still one million people involved, the price will stop at around 3000 for quite a while, But in the process of people quitting, bitcoin will be worthless Personal views (for reference only)

7. The concept of 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
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 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. 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
the people's Bank of China (PBOC) said that bitcoin business is prohibited in China's banks and payment systems. The people's Bank of China said that bitcoin has no legal status as a currency, but it still allows private transactions in bitcoin at their own risk. The notice stipulates that financial and Payment institutions are not allowed to carry out bitcoin business, but it does not prohibit private transactions in bitcoin. The notice requires bitcoin website to be managed by real name system, put bitcoin website on record, and bring bitcoin service organization into anti money laundering supervision.

8. In short, bitcoin is a kind of cryptocurrency (virtual currency, digital currency, electronic currency). The professional point is that bitcoin is a consensus network, contributing to a new payment system and a fully digital currency. It is the first decentralized peer-to-peer payment network, which is controlled by its users without a central management organization or middleman. From the user's point of view, bitcoin is much like Internet cash. Bitcoin can also be regarded as the most outstanding three style bookkeeping system
therefore, bitcoin can be bought and sold on the trading platform to convert bitcoin into RMB.