Bitcoin lock
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bitcoin (BTC) is a digital currency with a total amount of 21 million. It has the characteristics of decentralization, globalization and anonymity, just like the Internet. It means that transferring bitcoin to the other end of the earth is as simple as sending e-mail, low-cost and unlimited. Bitcoin is also used in cross-border trade, payment, remittance and other fields
the liquidity and limitation of bitcoin determine that bitcoin can act as a monetary function equivalent to general equivalent, or as a measure of money, but this measure is not a physical measure like gold, but a digital proct
related concepts:
1. Address
the address of bitcoin world looks like this. The address itself is just a string of codes, just like your bank account number 321 million 3288372, which is used to mark an account. Everyone can have countless addresses. The address is public
2. The bank records how much money there is in the bank account
the amount of money in the bitcoin address is recorded by the whole bitcoin network. Each complete bitcoin data will record how many bitcoins are stored in this address
each node participating in the bitcoin network can save a complete of bitcoin data, and everyone has a backup on hand to prevent counterfeiting
3. The key (private key)
the key is another string of characters you only know. The key is used to operate the money in the bitcoin address. Key and address are the relationship between a key and a lock. Each address has only one password, and each password also operates a bitcoin address
with the key, you can control the money in the bitcoin address and pay to anyone. The key should be absolutely safe. The lost or deleted key can never be found, and the money in the corresponding bitcoin address can never be used
the key needs to be kept absolutely secret. Anyone who knows the key can steal all your bitcoin
4. Wallet
the transaction process of bitcoin will involve a lot of complex calculations. In order to simplify the operation, we have made wallets. The wallet has client software on the computer, and also has an online web version. The function of the wallet is to pay with a little touch, and the complicated calculation behind it is left to the wallet to complete
5. Security
if you use the computer client software, you can recommend multibit or bitcoin QT. Both are official software recommendations for the bitcoin community. The installation of these two softwares must be downloaded directly from the official website, and the check code must be checked before and after downloading. This is to prevent someone from tampering with wallet software and stealing keys
6. mining
about every 10 minutes, some new bitcoin will appear in the bitcoin network, which can be imagined as throwing money in the sky. Whose pocket these scattered money fall into mainly depends on whose computer calculates fast. The faster you calculate, the more likely you are to find the money. Mining is to use the computer to calculate, to pick up the money< br />
1. The mail cabinet is stolen (the database is stolen)
2. The key is stolen (the private key is stolen)
3. Knowing my home address (the public key is stolen), the lock of the mail cabinet is opened violently (the private key is cracked violently).
Invisible bitcoin can not only make people rich or poor overnight, but also bring people worry about their lives
According to Ukrainian media reports quoted by the daily telegraph, on Tuesday (December 26), Pavel Lerner, CEO of the British bitcoin exchange exmo, was kidnapped after leaving his office in Kiev, Ukraine, and dragged into a black galloping car by a group of masked peopleafter the above news came out, a spokesperson of exmo told the daily telegraph that we are doing our best to speed up the search for Lerner and welcome all clues from the outside world. Exmo's business is running as usual and all users' funds are absolutely safe. According to the company's official website, the platform has more than 900000 users
after the kidnapping incident attracted public attention, exmo also announced on official twitter on Thursday that it had been attacked by DDoS (distributed denial of service) with the intention of destroying platform transactions
according to Wall Street reports, at the beginning of this month, when bitcoin rose to more than US $13000, the payment system of nice hash, the world's largest digital currency mining platform, was hacked and bitcoin in users' wallets was stolen. Bitcoin millionaire, a bitcoin information website, has since estimated that as many as 4736 bitcoins were stolen by hackers, with a total value of more than $62 million
interestingly, as a foreign netizen imagined, after the kidnappers received the ransom, if bitcoin continued to appreciate, it would be OK. If bitcoin collapsed before the gloves turned, wouldn't it be a "huge loss"
In fact, this is also the old question in the minds of many investors - how long can bitcoin's investment boom last On December 2, when talking about bitcoin in public activities, pan Gongsheng, vice governor of the people's Bank of China, said that it was a decisive and correct decision for regulators to shut down bitcoin trading platform and stop ICO a few months ago According to BBC news, on December 14, Andrew Bailey, CEO of the financial conct authority (FCA), the UK's top regulator, issued a warning to investors, saying that bitcoin buyers should be ready for "full compensation". Bitcoin lacks the endorsement and support of the government and the central bank, and its risk level is the same as gambling, he saidon Thursday (December 28), the South Korean government announced the countermeasures to combat virtual currency speculation, and considered closing some virtual currency transactions, so as to curb excessive speculation. In addition, the South Korean government has decided to implement the real name system of virtual currency trading and expand the investigation authority of the Fair Trade Commission, the anti-monopoly law enforcement agency
In a statement, the South Korean government said that cryptocurrency speculation in South Korea has gone too far and has become irrational, according to the report. The government can no longer allow abnormal speculation to developthe Indian authorities also issued a warning. On Friday, India's finance ministry warned investors about the risks of cryptocurrencies such as bitcoin, saying digital currency investments look like a Ponzi scheme, Reuters reported. In a statement, India's Ministry of Finance said investors and other participants in digital currency transactions were "entirely at their own risk" and advised that it was best to avoid such investments
but from the perspective of optimists, bitcoin is not as static as gold. As a virtual currency, its software code is constantly developing, and its functions can be constantly adjusted, improved and updated, and its value can be realized in unimaginable ways, such as, Many bitcoin fans are looking forward to bitcoin's "lightning network" (an improved way to facilitate payment). If bitcoin gets more attractive functions in the process of continuous evolution, people can even use it for convenient and fast cross-border payment
according to China Securities Journal, based on the sustainability of bitcoin development, bitcoin supporters believe that even if the market value of cryptocurrency expands to 20 times the current value, the market will not go crazy. However, as far as bitcoin itself is concerned, with more and more new technologies coming out, bitcoin's share in the cryptocurrency market will show a downward trend in the future
Hong shuning, a senior researcher of Suning Institute of financial research, recently wrote an article, imagining two situations of "truly killing bitcoin":first, all bitcoin development teams are conservative and complacent, no longer absorbing the latest scientific and technological achievements to improve themselves, resulting in the emergence of a new digital currency with all aspects of technical indicators exceeding bitcoin, It is widely accepted by the society and then replaces bitcoin. This is the failure of bitcoin, but also the success of virtual digital currency
Second, there are serious loopholes in the bitcoin protocol or wallet software, which lead to the security of the whole bitcoin system can not be guaranteed, a large area of funds are stolen, sold at a low price and uncontrollable in the short term, and the social confidence in bitcoin is completely lost
so. In this world, money is easy to use
1. Supervision. Decentralization is the biggest advantage and the biggest disadvantage of bitcoin; Because it is easy to be used for illegal trade
2. The problem of trading platform. At present, the domestic bitcoin trading is closed, but the foreign bitcoin trading market is hot and there are many platforms, so it is difficult for users to distinguish the legitimacy of the trading platform
3. As for the transaction risk, the bitcoin development team is only responsible for the development, maintenance and improvement of the bitcoin system, but it is unable to guarantee the normal progress of the transaction
4. As for the identity of the trader, generally speaking, the trading platform authenticates the user's real name, but the coin pack thinks that there are still some loopholes in this kind of authentication
5. Legitimacy. Because different countries have different views on bitcoin, they have different views on bitcoin.
I have always trusted btc123. In 2013, I first found the fxbtc mainland platform on btc123 to buy bitcoin. Fxbtc failed and lost a lot of bitcoin. At that time, I thought that the mainland platform was not very reliable. Then I found mycoin on btc123, the Hong Kong platform. Considering that the legal system in Hong Kong is more perfect and btc123 is an endorsement, it should be safer. So I bought 2 million bitcoin from huocoin.com and transferred it to the multi currency treasure in mycoin platform for storage!!! Often login multi currency account, has been able to log in, and every day there is interest payment. In February of 2015, I happened to see the news that the boss of the platform ran the road and Hong Kong's capital took 3 billion yuan away!!! Then the mainland economic investigation called the police and refused to accept it. It said that the office address was in Hong Kong and asked me to call Hong Kong to report to the police. The Hong Kong police station received a call saying that I should report to the police in the mainland, and bitcoin did not accept the call to report to the police. Finally, it said that I could report to the police online first. I called the police on the Internet, no news!!! Now call the day should not, call the ground not work!!!! I hope the media, the government or the police can help me. I can't say that I have no hard-earned money for 15 years! I wonder if we can sue btc123 together? What else can we do to rece the loss? Thank you