Founder of VB ore pool
the issuance of bitcoin does not depend on indivials or teams, but through a process called "mining". By solving the problem of cryptography, people get the right to create new blocks and get rewards. It can be said that the new bitcoin is proced to reward miners to verify blocks. In the beginning, 50 bitcoins were awarded for each block packed. Nakamoto designed a set of rules. For every 210000 blocks excavated (about four years), the reward will be halved. This is what we call "halving" event
the first half was at the end of 2012, when 50 bitcoins were awarded to the 210000 block, but only 25 bitcoins were awarded to the 210001 block
the second half took place in the middle of 2016, and the reward was halved again, so 12.5 bitcoins were awarded in 420001 block
and so on...
until around 2140, 21 million bitcoins were g up, and then they stopped rewarding
Why do we need this half design? If bitcoin is issued too fast and there is no circulation limit, there will be a large amount of bitcoin in circulation in the market, and it will definitely be greatly devalued. One thing to remember: bitcoin is valuable. First, the number of bitcoins is fixed, that is 21 million; Moreover, through the halving process, inflation in the bitcoin economy can be suppressed
the third halving will take place in May this year. Let's wait and see.
2 in 1998, Wei Dai's paper elaborated an anonymous and distributed e-cash system: B-money. At the same time, Nick Szabo invented bitgold and put forward the workload proof mechanism. Users solve mathematical problems competitively, and then publish the results in series with encryption algorithm to build a property rights authentication system. Hal Finney improved the mechanism as a "reusable workload proof"
3 on the basis of previous work, in 2008, the little-known "Nakamoto Tsung" published "bitcoin: a peer-to-peer cash payment system" in the cryptography mailing list of metzdowd.com. On January 3, 2009, bitcoin network was born, and Nakamoto himself released the first version of open source bitcoin client
since then, the monetary history of mankind has opened a new page.
I think the first step is to make sure that your parents are not deceived, because parents may be better at communicating. Then work with your parents to stop your uncle
I think you can find one or two professionals to teach your uncle, such as your teacher, and you can also find the content of online rumor refutation.
The bitcoin white paper was first published at the end of 2008, when the creators sent it to multiple recipients on an encrypted mailing list. Strangely, its creator pretended to be Satoshi Nakamoto, hiding behind the pseudonym
Another reason for Nakamoto's anonymity can be explained as that the creators of alternative currencies easily put themselves at risk In 1998, Hawaiian resident Bernard von nohaus created a private currency called free dollar. It has been popular for some time, but its coinage was suddenly raided by the FBI and secret service in 2007. After a criminal lawsuit in 2009, the money was confiscated and Bernard von norhaus was convicted of "making private coins that compete with the official currency of the United States." In addition, in 2007, a digital currency called e-gold was accused of being illegal because it did not collect enough customer information. Its owner was sentenced to house arrest and the company was shut down. The arrest of entrepreneurs in alternative currencies by government agencies may have been a factor in China's decision to remain anonymouseveryone can use bitcoin. This means it can be used to pay for legal and illegal services, as well as legal bids however, it has always been a popular payment method in the black net market. Ross Ulbricht, the notorious dark Internet market maker and operator, was jailed for facilitating the trading of drugs and other contraband
Ross Ulbricht appealed to the US Supreme Court in December 2017, but is still in prison. If Nakamoto reveals his true identity, it can be inferred that he may face a similar fate
who would he be
in 2016, Craig Wright, an Australian programmer, claimed to be Chinese. He provided some evidence, but later found that it was not conclusive because it could be obtained publicly from books. He was also accused of falsifying announcements and blog posts to show his real Chinese version. For example, vitalik buterin, founder of Ethereum, recently called Craig white a liar
The other is Hal Finney. He is a famous cryptopunk and Cryptologist. He was also the first person to receive bitcoin from Nakamoto in 2009. He was also the first to download a bitcoin client. Before his death in 2014, however, Hal fini refuted the claim that he was Chinese Some people think that Nick Saab, a famous Cryptologist, may be Nakamoto. Before the launch of bitcoin, he designed the architecture of distributed digital currency, which he called bitcoin. Although the architecture has never been moved, it is similar to the design of bitcoin. This led to widespread speculation. But he repeatedly denied italthough the real identity of Nakamoto may never be disclosed, it is important that the operation of the technology will not be affected