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The role of bitcoin

Publish: 2021-03-22 19:33:21
1.


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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 />

2.

"Gold and silver are not money naturally, but money is gold and silver naturally." this is a sentence Marx said about money

How to understand? In fact, it is very simple that money is the inevitable proct of the development of human life. In the earliest stage, gold and silver were only used as a kind of metal or a kind of ordinary commodity to exchange things. However, with the development of society, people find that gold and silver are easy to separate, easy to preserve, easy to carry and other advantages, so the suitability of gold and silver as currency is reflected, and naturally evolved into currency

What about bitcoin

3. 1. Virtual, can transfer, can pay to buy (a few people have realized this function), collection ~
2. Decentralized, no credit endorsement ~ who gets it is who
4.

In 2008, a pseudonym software developer proposed bitcoin as an electronic payment system based on mathematical proof. The idea is to create a means of exchange independent of any central authority that can be transferred electronically in a secure, verifiable and unchangeable manner

bitcoin is a kind of P2P virtual digital currency based on blockchain technology, which can be traded with the world

bitcoin can be used for many purposes, including providing funds for companies, investing in cash and transferring money free of charge. Bitcoin is usually associated with criminal activities such as drug trading, cyber crime and money laundering, because it is almost impossible to associate bitcoin wallet with anyone

5. Bitcoin is a kind of digital currency. Bitcoin can only be regarded as an electronic commodity in China. Bitcoin has become a legal currency in Germany. Bitcoin can be regarded as a collection. Collectors regard bitcoin as priceless, while non collectors regard bitcoin as worthless characters.
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