The relationship between gold and digital currency
digital currency is an alternative currency in the form of electronic currency. Both digital gold coin and password currency belong to digital currency
digital currency is different from the virtual currency in the virtual world, because it can be used for real goods and services transactions, not limited to online games. The early digital currency (digital gold currency) is a form of electronic currency named after the weight of gold. Today's digital currency, such as bitcoin, lightcoin and ppcoin, is an electronic currency created, issued and circulated by check sum cryptography
features: the use of P2P peer-to-peer network technology to issue, manage and circulate currency theoretically avoids bureaucratic examination and approval, so that everyone has the right to issue currency
Electronic money means that a certain amount of cash or deposit is exchanged from the issuer and the data representing the same amount is obtained. By using some electronic methods, the data is directly transferred to the payment object, so that the debt can be paid off. Strictly speaking, consumers pay traditional money to the issuers of electronic money, and the issuers store the equal value of traditional money in the electronic devices held by consumers in electronic form. In short, when we deposit money into our bank account, there will be an extra number in the bank account, which means how much money we have saved. In this process, we give the banknotes in our hands to the bank, and the bank adds a number to our bank card, which is our electronic currencyfeatures:
< UL >e-money and paper money (or physical money) can be easily converted to each other
the data of electronic currency corresponds to the same amount of physical currency
we need to pay physical money to the issuers of e-money (banks and other financial institutions) in order to exchange for the same amount of e-money
3. The similarity between digital currency and electronic currency: both exist in the form of electronic data
The differences between digital currency and electronic currency are as follows:electronic currency has an issuing institution, and the corresponding amount of physical currency in the institution can be exchanged with physical currency; However, digital currency has no specific issuing institution (decentralization) and can only exist in network data
at present, there is no international consensus on whether digital currency is a currency or not, so in China, the main form of digital currency is "investment proct", which is a rather risky investment proct, and only a few businesses are willing to accept digital currency consumption; Of course, some countries (Germany, etc.) have officially recognized the currency status of digital currency
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.
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. Bitcoin is a kind of P2P digital currency. Point to point transmission means a decentralized payment system. Unlike most currencies, bitcoin does not rely on specific currency institutions to issue. 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 money 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. 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
from the two concepts, the main differences are as follows: gold is a physical object and a general equivalent; Bitcoin is a virtual currency, which is easy to be manipulated, and its value has a certain degree of hype.
1. Legitimacy
the domestic futures market countries set up financial derivatives trading venues, which are composed of four exchanges, namely, China Gold Exchange, Shanghai Futures Exchange, big business exchange and Zheng business exchange, which are supervised and managed by China Securities Regulatory Commission, futures monitoring center and futures association according to law
except bitcoin, which has a perfect management mechanism, the management of other digital currencies is chaotic and belongs to non-governmental organizations. Governments have never recognized the legality of digital currencies. Credit is completely managed by the self-discipline of issuers and participants, which poses great risks
Domestic futures: 9:00-10:15 a.m., 10:30-11:30 p.m. and 13:30-15:00 p.m. from Monday to Friday (except holidays)digital currency: it can be traded 24 hours a day, and the trading time is in line with the international market
3. Proct selection
domestic futures: at present, there are dozens of futures varieties, and each variety has at least four months of contract, with standardized management and large trading volume, so it is difficult for funds to control the market
digital currency: the management is not standardized. Although many non-governmental organizations or indivials have set up a lot of digital currencies, the information is limited, and it is difficult to understand the situation of a certain digital currency. Some digital currencies have hierarchical relationship between the upper and lower families. Investing in a certain digital currency is a matter of luck, without any data as a reference
4, two-way trading
domestic futures, with its own leverage, can be two-way trading, long and short can be, t + 0 trading, after the profit can appear
digital currency: long by one side, and the so-called depletion of power resources to mine, the relationship between the superior and the subordinate profits
money 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.
bitcoin is known by some as & lt; Digital gold;, It cannot be compared with gold the development of Internet and other communication systems has accelerated the process of currency electronization and virtualization, resulting in changes in market entry mode, market transaction mode and payment mode< as a new proct, bitcoin is a revolution in currency history. Until now, the money (or equivalent money) used by human beings has changed from salt, shells and other tangible objects to gold, silver, copper, paper money, cheques, electronic money and virtual money this is a very clear evolutionary process. From the trend of its intrinsic value, it is graally declining. However, its convenience as a payment method has been greatly improved
With the development of human society and the international monetary system, gold has experienced twists and turns from commodity to currency and then to commodity (non monetized gold), and its historical status and role have also changed. In the era of gold as currency, gold once played the role of value scale, transaction medium, means of payment, reserve currency and world currency
so there is a big gap between the functions of gold and bitcoin