Why eth is so much cheaper than BTC
however, bitcoin is not the only cryptocurrency with rising value. The value of another cryptocurrency called Ethereum has been increasing since January 2017. From $8.24 to $203. Up 2367%
investors are worried that in the past few years, cryptocurrencies have gained the favor of many investors who are looking for other investment methods than traditional ones. Although most investors still invest their money in traditional financial markets, such as the stock market and foreign exchange market, many of these investors have begun to worry about the economic climate of the world economy
recent events have made us aware of the instability of traditional financial markets such as the stock market and foreign exchange market. Many investors have been looking for other ways to invest their money
with the creation and popularization of cryptocurrency and its rapidly rising value, many investors, especially those from Asia, have joined the trend of bitcoin and cryptocurrency
advantages of Ethereum
although many people are more familiar with it, Ethereum has also gained a fair share of the market with its own value. However, there are key differences between the blockchains used by Ethereum and bitcoin
the difference between the two systems is that Ethereum's data processing speed is faster than that of bitcoin, because once agreed, Ethereum's system will automatically apply to the terms and conditions in the contract
although many people may think that Ethereum may be inferior to bitcoin because its value is lower than bitcoin, this is a good thing for investors who are looking for investment channels other than bitcoin. A lower price may attract more investors because it has more room for growth. The only drawback is that Ethereum is not as established as bitcoin. In view of this, bitcoin is more secure than Ethereum<
not as volatile as before
since bitcoin was founded in 2009, cryptocurrencies have made great achievements, and they have continued to grow. In fact, the value of legal cryptocurrency has risen a lot since then
although cryptocurrencies have performed very well this year, analysts expect that when the economic situation is good, investors will leave cryptocurrencies and return to traditional investment media. When this happens, the volatility of cryptocurrency will decrease because of the decrease of demand
of course, we will still see the growth of cryptocurrency in the next few years, which will help the instry remain strong. When that happens, it's a good idea for investors to hold cryptocurrencies for future growth.
BTC bitcoin
bitcoin is the first distributed digital asset platform created. Since its launch in 2009, it has proven to be not only the most popular, but also the largest market capital value. In addition, it is also the most expensive, with a value of $10710 per coin on February 17, 2018. Bitcoin introces the first blockchain distributed ledger dedicated to recording all transactions, and gets rid of the function that users need a central authority to process or verify transactions
its goal is to provide a platform for users to conct cross-border transactions without any intermediary, which is what we call decentralization. The platform's largest money (BTC) supply is about 21 million. Of this figure, about 16.5 million have been mined and are now in circulation. It is mined all the time around the world to ensure the circulation of coins
Advantages:1. Its distributed system provides users with great freedom
2. High portability
This is a secure networkdisadvantages:
1
2. The user may lose the key
eth Ethereum
Ethereum is also a distributed platform, which was created by Network Programmer vitalik buterin in July 2015. Ethereum aims to enable users to create and deploy smart contracts. One of the main functions of smart contracts is to allow the creation of encrypted assets or tokens running on Ethereum networks. Ethereum token is used to purchase various functions such as cloud storage space. These tokens are stored in a digital wallet compatible with Ethereum blockchain
Ethereum's digital currency ether serves as the medium for executing smart contracts. At present, about 98 million ether coins have been mined and circulated, and the circulation supply increases by about 18 million every year. Ethernet coin is created to run on the Ethereum network. It can be used to compensate the participant nodes or transfer from one user to another
advantages:
1
2
The safety was very highdisadvantages: large circulation
< H2 > extended data:generation principle:
starting from the essence of bitcoin, the essence of bitcoin is actually a special solution generated by a bunch of complex algorithms. A special solution is one of the finite solutions of a system of equations. Every particular solution can solve the equation and is unique
in the metaphor of banknotes, bitcoin is the number of the top word of a banknote. The number of the top word on a banknote owns the banknote. The process of mining is to constantly seek the special solution of the equation system through huge amount of calculation. The equation system is designed to have only 21 million special solutions, so the upper limit of bitcoin is 21 million
to mine bitcoin, you can download the special bitcoin computing tools, register various cooperation websites, fill the registered user name and password into the computing program, and then click the operation to officially start
after completing the installation of bitcoin client, you can directly obtain a bitcoin address. When others pay, you only need to post the address to others, and you can pay through the same client
after installing the bitcoin client, it will assign a private key and a public key. You need to back up the wallet data containing your private key to ensure that your property is not lost. Unfortunately, if the hard disk is completely formatted, personal bitcoin will be completely lost
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
according to the notice on preventing the financing risk of token issuance, there is no approved digital currency trading platform in China. According to China's digital currency regulatory framework, investors have the freedom to participate in digital currency transactions at their own risk
warm tips: the above information is for reference only. Before investing, it is recommended that you first understand the risks existing in the project, and understand the investors, investment institutions, chain activity and other information of the project, rather than blindly investing or mistakenly entering the capital market. Investment is risky, so we should be cautious when entering the market
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1. The price of BTC and eth you see on this platform is not the real price against the US dollar, but the price in usdt, which is priced in OTC legal currency. Their ups and downs are all calculated in terms of usdt. All three of them are virtual currencies, just currency transactions, not real dollar prices
2. Usdt is a complete domestic counterfeit currency, formerly known as realcoin, but it has just changed its name. Realcoin is the second generation of domestic counterfeit currency, and the first generation is called chncoin Chinese currency. Both of them collapsed successively in 2013 and 2014
3. The actual value of usdt can be said to be equal to 0. Teda Company, which issued usdt, stopped providing any services to American citizens, that is to say, Teda Company could not provide usdt to us dollar
extended information:
1. Fire coin is a safe and reliable bitcoin trading platform in China. It has won a round of ten million RMB capital investment from Zhenge fund, Dai Zhikang, Sequoia capital (shareholders of many world-famous companies such as apple and Alibaba). Fire coin implements strict risk control management and operates stably. As of the end of 2016, the accumulated turnover of fire currency reached 200 billion yuan
2. In the future, fire coin will mainly focus on overseas transactions. Founder Li Lin said in an open letter that he is currently carrying out five major businesses around the world, including fire coin global professional station, fire coin Korea, fire coin China, fire Coin Wallet and fire coin global dollar station. Among them, fire coin China focuses on blockchain technology R & D and application information, while fire coin Korea and fire coin global dollar station will continue to provide local legal currency to digital currency digital asset trading services
2015-08-17 09:17:38 Views: key words: Mike
related reading: Mike Hearn: internal contradictions in the enterprise prevent Google from accepting bitcoin
Yes, it's coming. The community is beginning to separate, and bitcoin is about to bifurcate: including software, and perhaps blockchain. The two sides of the split are bitcoin core and the micro variant program based on the same program, called bitcoin XT. On August 16, Beijing time, there is now a full version of bitcoin XT
this bifurcation has never happened before. I want to explain this from the perspective of bitcoin XT developers: it can't be said that it hasn't been communicated enough
bitcoin bifurcation, this topic may make many people curious, so this article is written for ordinary readers. It doesn't involve the knowledge that has been debated before
the original version of bitcoin was carefully arranged by Nakamoto, and has always been very clear. The debate is about growth. In 2008, he answered the first question about the design of bitcoin, saying:
visa processed 37 billion transactions in fiscal year 2008, or an average of 100 million transactions per day. So many deals require 100GB of bandwidth = 12 DVDs or 2 HD quality movies = about $18 of bandwidth at the current price
assuming that the bitcoin network reaches this scale, it will take several years. By then, sending two HD movies over the Internet may not be a big deal
at that time, he was more tired of bitcoin expansion than any of us. His plan is to make bitcoin popular from the beginning, and he knows that this success will change how people use his system. In 2010, he said, "it's good that we keep [blockchain] files as small as possible
the final solution will not care how big it (blockchain file) becomes
but now, while it is still small, keep it in a small state, and the growth of new users will be faster. When I finally implement client only mode, it's no longer a problem
"
in 2011, through a series of calculations, I expanded the expansion intuition of Nakamoto in detail: if bitcoin becomes so popular, will it completely replace visa? The answer is that his plan is credible - you don't need anything else but a computer, even if there's so much traffic. Before he left, I also implemented the model he talked about
it was Nakamoto's plan that brought us together. It has changed the lives of thousands of people around the world. Some of us give up our jobs, others devote their spare time to the project, others set up companies and even travel around the world. This is an idea that ordinary people can complete mutual payment through blockchain and create this global community
that's the vision I signed, and that's the vision Gavin Andresen signed, and that's the vision signed by millions of developers, founders of startups, evangelists, and users around the world
and this vision is now in danger. In recent months, it's clear that a small group of people have completely different plans for bitcoin. These people have never really understood Nakamoto's intention because they are worried about success, if the technology has never been improved, if people can't run bitcoin on their home computers? Doesn't this make bitcoin move away from centralization and more like banking? What if people start to rely on bitcoin, even if it's imperfect
now, Nakamoto has chosen to disappear, and they want to make a major change: substantially increase transaction costs, end support for mobile P2P wallets, give up unconfirmed transactions, and many things that have never been found in the project's founding documents
the so-called lightning network, which is about to be promoted as a substitute for Nakamoto's design, does not exist. The white paper describes that it was announced earlier this year, and if it can be realized, it will be a huge departure from the bitcoin we know and love. Pick one of the many differences, and a bitcoin address won't work. What they will be replaced with has not yet been worked out (because no one knows). There are many other surprising pitfalls that I mentioned in another article. What will it eventually proce to make our existing bitcoin network better? It is still extremely unclear
what happened to the free market
in theory, none of this should be a problem. Lightning network is built on the blockchain, but it needs a rather trivial upgrade process to achieve the best function. Of course, people are willing to explore this direction, which is entirely possible. If the jobs they set up are better than the existing ordinary bitcoin network, then the market will choose their way, if so... It is fair competition for them! The current design of bitcoin is unlikely to be the final version for payment. This is a reasonable imagination, one day it will be eliminated in the competition, or enhanced by something else
but our system is working today. It has an ecosystem, including developers, exchanges, wallets, ATMs, books, applications, conferences, and many people have learned how it works
if there was a free choice, would people decide to move to a completely different system
we don't know, but the people who are pushing these things don't want the market to make a decision. That's what happened
a long time ago, Nakamoto set up a temporary "mixed brand assembly computer": he limited the size of each block to 1 MB. He did so in order to keep the blockchain in a small state in the early days, until we now call it the creation of SPV wallet (that is, what Nakamoto calls "client only mode"). As mentioned above, when the time comes, it can be adjusted. It has never been said that it is permanent. In the end, it becomes irrelevant. In 2011, I wrote the first SPV tool with my respected colleague Andreas schildbach, and we built the first and most popular Android wallet together. Since then, SPV wallets have been used on major platforms. Therefore, Nakamoto's reasons for this temporary restriction have been solved a long time ago
with the continuous growth of bitcoin, its blocks are also growing. Reasonable traffic forecasts show that the block will reach the current system limit sometime next year, at the latest in 2017. Another bubble or pressure cycle will force us to exceed that limit before, and the result may not be beautiful.
so it's time to raise the upper limit, or delete it completely. That's our plan, and the problem starts: those who don't want to see bitcoin expand have decided to postpone the process. They saw a beautiful, one-time opportunity to forcibly transfer bitcoin's predetermined path to a completely different technological trajectory. They don't know what this alternative design will be, and of course they haven't built it yet. But it doesn't matter. They believe that by blocking the growth of the blockchain, they can "motivate" (that is, force) the bitcoin community to switch to different things, something more in line with their personal technical taste
why restrict blockchain
so far, I haven't explained much about these people or who they are. I think it's a very time-consuming and laborious thing to name names in this article, and it seems to be futile in the end. Presumably those who care about this matter already know it, and those who don't know it can't recognize the people who are involved in it
I just want to say that they are very few people who have access to the bitcoin core code base, or those who are convinced by their arguments
therefore, we will not discuss these arguments here, which has been too much. Gavin and I have written articles to analyze the questions raised by everyone to refute them. Sometimes the answer is some common sense, some will be more in-depth, need more work, such as network simulation
the best place to understand these controversies is in Gavin's blog. I hope to find a link to a collection of opinions similar to those refuting Gavin's point of view, but none of them
to sum up, in the long and hard debate, several different opposition groups:
if bitcoin approaches this limit, we will be stimulated to create something better
the limit should be raised, but it is not ready (the actual time is not specified)
if bitcoin is expanded and becomes more centralized, it will no longer be bitcoin< Other people: if the objections you support are not listed above, please check Gavin's blog and find out the answer
the first point may become a reality one day, but it is not comparable with the theoretical system on paper. But no one who has seen any alternative solutions on the table thinks they can be implemented within 12 months (see another example in the last paragraph, for example)... Even assuming they are better. This is also an example of the nirvana fallacy:
the nirvana fallacy refers to the name of the informal fallacy of some unrealistic and idealized substitutes for something more practical. It can also refer to the tendency to think that there is a perfect solution to a specific problem, so it is also called perfectionism fallacy
it's obviously advantageous to create an imitative dichotomy for a current choice. But it's also totally incredible. One who uses the nirvana fallacy can attack any opposing idea because it is imperfect. According to this fallacy, the choice is not between real-world solutions. One is a realistic solution, and the other is an impractical solution, which is the "better" choice between the two
the answer to the second objection is too vague. It is reasonable to believe that the overall upgrade of each bitcoin node may take one year, and the actual bitcoin network capacity overload will cause serious damage. We really should be ready before that. In the bitcoin development mailing list, there are two people who have professional capacity planning experience, and both of them have
if you really love someone, that person will appear in your heart when you want to forget most, and will appear in your heart when you are sad and lost most, But you think about it again and again, but you can't be sure whether you want to tell him how you feel now, your current distress, because