What is the relationship between yfi and BTC
although bitcoin and Ethernet are both digital currencies, unlike bitcoin, the main purpose of Ethernet is not to build itself as a payment substitute, but to facilitate and monetize the operation of Ethereum, so that developers can build and run distributed applications
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
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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
bitcoin, a blockchain based digital currency, is often regarded as a global safe haven asset like gold. In this age of global turmoil, even gold has become unreliable and may be confiscated as India has. Some people have begun to think that bitcoin can replace gold, because bitcoin not only has the reserve capacity of gold, but also has some capabilities that gold does not have, such as low handling charges, rapid transfer capacity, decentralization and so on. With the increasing popularity of bitcoin and the decreasing volatility, the status of gold has been threatened
will bitcoin shake the status of gold?
gold has a long history, almost as long as the history of human civilization, and has withstood numerous tests in history. Bitcoin is less than a decade old, but its value has risen sharply. There is no support behind bitcoin. Of course, since the end of the gold standard, there has been no support from other currencies, except that there is no support from the central bank behind bitcoin. It's hard to predict whether bitcoin will exist in the next decade, a hundred years or even a thousand years.
Blockchain technology is a new technology derived from the development of bitcoin economy, blockchain technology can effectively serve the bitcoin economy , they are interrelated. Bitcoin is a kind of virtual currency, which only circulates in a specific network economic environment, blockchain technology can not only be applied to the economy, but also can be used in all walks of life , which is their difference
Blockchain technologybecause blockchain technology is still a new proct at present, it has no accurate or definite definition and concept. In short, blockchain technology is a mode of data encryption management, which can protect data to a great extent. Blockchain technology is characterized by decentralization, openness, independence, security and anonymity. Its characteristics well adapt to the requirements of information protection and information disclosure in all walks of life. On the one hand, it ensures the security of data and avoids the interference of subjective emotions and system failures. On the other hand, data indivials can decide whether to hide their detailed information in the group to the greatest extent, so as to achieve the purpose of privacy protection
At the same time, there is no doubt that the blockchain technology is still in the state of preliminary development. The social understanding of it is not deep enough, and scholars are still in the stage of continuous exploration. Through the correct use, blockchain technology will bring many positive effects to the societyblockchain technology is not only the underlying technology of bitcoin, but also the core and infrastructure of bitcoin bitcoin has been running without any centralized organization operation and management. Later, bitcoin technology was abstracted, which was called blockchain technology or distributed ledger technology
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disadvantages of blockchain technology applied to digital currency:
first, there is no circulation management organization for "decentralization" blockchain technology is essentially a distributed database system with one-way linked list logic structure and P2P network design mode, which determines that there is no unified central control system for virtual currency based on blockchain technology
Second, it is difficult to effectively control the quantity supply the circulation of virtual currency based on blockchain technology is fixed, and according to Fisher Equation, the total transaction volume of the whole society under a certain price level in a certain period has a certain proportion with the required nominal currency volume, while the constant currency volume obviously can not meet the requirements of the growing total price of social goods Thirdly, "mining mechanism" is difficult 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 to inject value into virtual currency", but it is obviously not the most efficient choice to consume millions of calculations in order to find a hash value that meets the requirements Fourthly, procers and early holders are easy to get high seigniorage any virtual currency based on blockchain technology is held by a few people at the initial stage of its development. Take bitcoin as an example. At first, bitcoin was only a proct of a few people's game. The first bitcoin purchase in May 2010 was $10000 BTC's purchase of $25 pizza. The first bitcoin transaction completed in July of the same year was $0.04/btcmoney is widely accepted as a medium of exchange. Gold is classified as money, which can be traced back to the early capitalism. At that time, gold could be used to exchange anything, but it didn't play much role. Gold is often in short supply. As a tradable tool and asset currency, it can be exchanged for a certain amount of US dollars
bitcoin has now become a means of online and offline payment, which has been accepted by many countries, but it has not been accepted by the whole world
2. The two are not irreplaceable: gold was used a long time ago, but it was rarely found and created by substitutes like gold. Bitcoin has many substitutes. Who knows what other encrypted electronic currency and technology will destroy the current market
3. Gold is a commodity, but bitcoin is not
gold is a basic commodity or hard asset that can be used in business, and can be used as a material to proce other commodities. People can also use gold for physical delivery and then make it into some other form for use. Although bitcoin is storable, it is not physical and cannot be held, felt or transferred
4. Are bitcoin and gold risk averse
bitcoin and gold are rare, their prices may be volatile, and each of them serves as an alternative investment to those who lack confidence in fiat money and monetary policy. Bitcoin trading is not as easy as gold, because people have to buy bitcoin through online trading platforms or invest in over-the-counter bitcoin trusts.