Classification of bitcoin participants
{rrrrrrr}
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 />
the basis of bitcoin contract
bitcoin contract refers to a contract that can be traded without actually owning bitcoin. It is very different from the currency transaction which can only be carried out with the actual holding of digital currency
bitcoin contracts enable you to predict the price trend of bitcoin and hedge risks. This way of trading means that you are investing in price trends, not the assets themselves
when trading bitcoin contracts, you can decide whether to be short or long. Choosing long means that you expect the price of bitcoin to rise. On the other hand, choosing to short means that you expect prices to fall
leveraged trading
one of the characteristics of bitcoin contracts is that it can choose to trade with high leverage ratio. Using leverage means that you don't have to invest 100% of the transaction amount in a contract transaction. Instead, you only need to deposit the initial margin, which is only a small part of the total contract value
leveraged trading allows you to have a large exposure with a small amount of funds while managing risks
perpetual contracts
although there are many different types of contracts, this paper mainly focuses on perpetual contracts. As the name suggests, these contracts have no expiration date. Traders who are long or short with perpetual contracts can hold positions indefinitely unless the contract bursts, which means that they will not suffer more losses than the initial margin
in the perpetual contract, the pricing of bitcoin is based on a specific index price. The index price is based on the average price of bitcoin in multiple currency markets
bitcoin contract has become a very popular trading tool. Many traditional investors are not ready to allocate their money to digital assets, but still want to benefit from attractive price fluctuations, and contract trading opens the door for them
if you want to open bitcoin contract trading, you need to find the exchange that provides contract trading. AAX platform provides you with bitcoin contract trading services in a compliant and secure environment
the system supports sending payments between users without the need to go through a central authority (such as a bank or payment gateway). It is created and saved electronically. Bitcoins are not printed like dollars or euros - they are free software proced and used by computers around the world
On November 1, 2008, a person who called himself Satoshi Nakamoto posted a research statement on a secret cryptography review group, stating his new idea of electronic currency bitcoin came out, and the first transaction of bitcoin was completed. Bitcoin has got rid of the constraints of third-party institutions with the help of information technology, which Nakamoto calls "regional chain". Users are willing to dedicate the computing power of CPU and run a special software to be a "digger", which will form a network to maintain the "regional chain". In the process, they also generate new money. Trading also extends on this network. The computer running this software can solve the problem of irreversible code, which contains several trading data. The first miner to deal with the problem will get a 50 bitcoin reward, and the relevant trading area will join the chain. As the number of "miners" increases, the difficulty of each puzzle also increases, which keeps the proctivity of bitcoin in each trading area at about 10 minutes
in 2009, Nakamoto designed a digital currency, namely bitcoin. The booming bitcoin market has gone up and down, and the identity of its founder "Nakamoto" has always been a mystery. Rumors about "the father of bitcoin" involve from the US National Security Agency to financial experts, and also give bitcoin a mysterious aura
according to foreign media reports, computer scientist Ted Nelson released a video on the Internet on Sunday saying that he had determined that the founder of bitcoin was Shinichi Mochizuki, a professor of mathematics at Kyoto University. The founder of bitcoin has always used the pseudonym of Satoshi Nakamoto, and there has been a lot of speculation about its true identity in the Internet field. Nelson released a video saying that he has determined that wangyuexinyi is the real founder of bitcoin
in 2013, Wangyue Xinyi became famous for proving ABC conjecture. He attended Philip Exeter college in high school, one of the most prestigious high schools in the United States, and graated just two years later. Wangyue Xinyi entered Princeton University at the age of 16, left school as a doctor at the age of 22, and became a full professor at the age of 33. It is extremely rare in the academic world to obtain the title of full professor at such a young age. This mathematical superstar may have solved one of the most important problems in the field
Mr Nakamoto has left few personal data on the Internet, especially in recent years, he has almost disappeared, so his life experience has become a mystery. On March 7, 2014, when the news that Dorian P. Nakamoto, the founder of bitcoin, was found came out, it quickly became the most attractive news on the Internet
different from the outside speculation that it may be a fictional name, "Nakamoto" is a real name. He is a 64 year old Japanese American who likes to collect train models. He used to work in large enterprises and the U.S. military and engaged in confidential work. In the past 40 years, Nakamoto has never used his real name in his life. According to a 1973 Los Angeles District Court file, when he graated from Caltech at the age of 23, he changed his name to Dorian prentice Satoshi Nakamoto. From then on, he no longer used the name "cong", but used Dorians Nakamoto as his signature
at the end of 2010, Nakamoto left the project and did not disclose much about his identity. Since then, many developers have devoted themselves to bitcoin projects, and the bitcoin community has grown rapidly
bitcoin's protocols and software are publicly released. Any developer around the world can view its code or develop their own modified version of bitcoin software. Just like current developers, Nakamoto's influence is limited to the changes he makes that are adopted by others. Therefore, Nakamoto does not control bitcoin. So, today, the question of the identity of the inventor of bitcoin may be the same as that of the inventor of paper< At present, the bitcoin foundation is mainly responsible for the development and maintenance of bitcoin projects
bitcoin is proced by mining. Mining is also a very professional work. At present, bitcoin mining needs professional ASIC miner, such as Avalon three generation single-mode miner.
Blockchain technology is not only the basic technology of bitcoin, but also the core and infrastructure of bitcoin. Bitcoin has never had any centralized organization, operation and management. Later, bitcoin technology was abstracted, called blockchain technology, or distributed ledger technology
{rrrrrrr}
extended data:
the disadvantages of blockchain technology applied to digital currency:
first, there is no circulation management organization for "decentralization". In essence, blockchain technology is a distributed database system, its logical structure is one-way linked list, and its design mode is based on P2P network, which determines that there is no unified virtual currency central control system based on blockchain technology
Second, it is difficult to effectively control the quantity supply. Based on blockchain technology, the virtual currency circulation is fixed. According to Fisher Equation, under a certain price level, there is a certain proportion between the total amount of transactions and the amount of nominal money needed in a certain period of time, and the fixed amount of money obviously can not meet the requirements of the growing total price of social goods Third, it is difficult for "mining mechanism" to create recognized value. Bitcoin itself has no value and no national credit support. Some people think that "by continuously consuming computing power and energy, the value is injected into the virtual currency", but in order to find the hash value that meets the requirements, it is obviously not the most effective choice to spend millions of calculations Fourthly, procers and early holders are easy to get high seigniorage. Any virtual currency based on blockchain technology is held by a few people in the early stage of development. Take bitcoin, for example. At first, bitcoin was just a proct of a few people's games. In May 2010, the first purchase of bitcoin was $25 pizza purchased by 10000 bitcoin, and the first transaction completed in July of the same year was $0.04/bitcoin