Detailed explanation of bitcoin

1.

Novice first of all to know how to calculate your cost, recharge, trading, cash, there are fees. At least you can understand the K-line. There are a lot of people on the K-line. You can look at it casually and understand it. You need to be risk aware. bitcoin is a high-risk and high profit investment. It may double overnight, or BMW may become a bicycle overnight. At the beginning, we suggest a small amount of investment

but it's hard to get bitcoin for indivial mining, so it's basically large-scale mining, and you need to cooperate with the mine pool. So if you still want to make money by mining, at present, the most suitable mining method is cloud mining or mining machine hosting. After all, the era of single person mining is over

2. Share source area video network, bitcoin play as follows:
1, bitcoin trading, you have to find a dedicated online trading platform for bitcoin. With this trading platform, we can buy and sell bitcoin freely on the trading platform
2. As long as you have time and pay attention to the real-time market of bitcoin, you can learn to play bitcoin. In fact, this method is very simple, that is, buy low and sell high
3. 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
Introction to bitcoin:
1. 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
2. Bitcoin is a kind of P2P digital currency. Peer to peer transmission means a decentralized concept of bitcoin, which was first proposed by Nakamoto in 2009. According to Nakamoto's idea, open source software and P2P network are designed and released
3. Bitcoin is a kind of P2P digital currency. Point to point transmission means a decentralized payment system
4. 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
5. The decentralized feature 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
6. 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< 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 relevant institutions would pay attention to bitcoin's current situation of encouraging illegal activities and disrupting the financial order, and require that actions be taken as soon as possible to completely ban the electronic currency
2. China has banned the issue and use of bitcoin
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3. We usually link Ponzi fraud, pyramid schemes and asset bubbles with bitcoin, so we will analyze the past one by one. Three. Asset bubbles are strictly not fraulent, because they do not involve coercion or deception, but in order to make the discussions more complete, we also add them.
1. Is bitcoin a Ponzi scheme
what is Ponzi scheme? The funds invested by the latecomers are equally distributed to the former participants as their benefits. Do you need to hand over an extra sum of money to all current bitcoin holders when you first buy bitcoin? No, so bitcoin is not a Ponzi scheme
2. Is bitcoin MLM
what is MLM? The funds invested by the latecomers are distributed to the previous participants as their benefits. When you buy bitcoin for the first time, do you need to hand over an extra sum of money to the person who brought you into the bitcoin world? No (bitcoin brings you in a lot of times), so bitcoin is not MLM
a typical mistake that people are prone to make is to judge whether bitcoin is a Ponzi scheme or pyramid scheme according to "previous bitcoin holders will benefit from the participation of later investors". This is obviously e to the unclear concept. Previous stock holders will also benefit from later investors. Is the stock market also a Ponzi scheme? The real difference between the above-mentioned scams and the formal investment market is whether the first participants and the latter are equal in the rules. The Ponzi scheme and pyramid scheme are unfavorable to the latter in the rules, and this is concealed, which is the deception. In the bitcoin market, no matter first come first served, everyone has to complete the transaction in the market according to their own judgment. No one can use the rules to profit others, which is exactly the same as the stock market< Is br />3. bitcoin an asset bubble?
what is asset bubble? The price of an asset is too high relative to its own value (all but resale). What determines the price? Supply and demand. There is a certain supply and the price soars, which means that there are too many buyers
take the tulip bubble that we often talk about for example. The most important value of tulips is its ornamental value. When five people buy a tulip, it's red. When 500 people buy it, it's colorful. Does it bring night light at night? Obviously not. The ornamental value of tulips will not increase because of the increase in the number of buyers. Therefore, soaring prices in the short term will lead to bubbles. After analyzing bubbles, let's look at bitcoin.
what is bitcoin? Value network. What are the characteristics of Internet? Scale effect
QQ with only 200 users, QQ with 2 million users, and QQ with 200 million users are obviously different in value. The same is true for bitcoin. Every additional bitcoin holder means an additional user who is willing to accept and able to pay for bitcoin. Accordingly, the value of the whole network increases a little bit. The scale effect of bitcoin determines that its value will naturally increase with the increase of the number of buyers. Therefore, it is untenable to assume that the inference of asset bubbles is based solely on price spiking. If we want to prove that bitcoin is an asset bubble, we must prove that the price change of bitcoin is even higher than that of its scale effect.
unfortunately, at least in the discussion of bitcoin bubble that I saw at present, I did not take this proposition into account. Although such proof is complex, it is not infeasible. For example, one idea I can think of is to take the valuation of Tencent / Facebook (Social Network), Alibaba / Amazon (trading network) and visa / PayPal (value network) in different user number periods as a reference to see if the growth rate of bitcoin's market value is too high compared with that of user number. Obviously, there is more than one way to prove, but the propositions to prove should be consistent
conclusion is obvious now that bitcoin is not a hoax, and even the accusation of bubbles lacks convincing grounds. When we discuss bitcoin, there are many misunderstandings, not only conceptual and logical, but also emotional. In the final analysis, it is because of the lack of understanding of bitcoin. However, e to the openness of the network, bitcoin has indeed been artificially played bad. Useful adoption

4. Digital currency is not MLM, but many people carry out MLM activities under the banner of digital currency
digital currency generally refers to the mainstream cryptocurrencies such as bitcoin, wikilink, bitcoin cash and Ethereum. These projects are not MLM, they are the value of their existence and application scenarios. However, since 2017, many blockchain projects have broken down, and some money generating projects have also started to run away, which also shames the entire digital currency instry, makes its future development more bumpy, and the supervision will be more stringent.

5. I remember a story about a boy who went to the mountain to dig coal because his family was poor, but when he g, he saw a stone that looked like glass, which was insignificant at all. So he thought what it was, which might not be valuable, but he brought home water to wash it for a different luster. He went to the market to sell coal. When others saw his stone, they thought it was beautiful. At first, the price was very low, and later, the price became higher and lower The higher the price, the more he didn't sell it. Later he realized its value. A scholar said it was a diamond. He gave it to the local museum. In fact, everyone was ordinary. But one day, when someone realized that you were different, you would have value. Tianjin Tongbao wealth has a variety of jewelry styles