What is the harm of virtual currency represented by bitcoin
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. 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 currency 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
bitcoin can be cashed and converted into the currency of most countries. Users can use bitcoin to buy some virtual items, such as clothes, hats and equipment in online games. As long as someone accepts it, they can also use bitcoin to buy real-life items[ 1-2]
on February 26, 2014, Joe Manchin, a Democratic senator from West Virginia, issued an open letter to a number of regulatory authorities of the US federal government, hoping that the relevant institutions would pay attention to the status quo of bitcoin's encouraging illegal activities and disrupting the financial order, and take action as soon as possible to completely ban the electronic currency.
Bitcoin can be said to be the ancestor of virtual currency. It was launched in 2009. At that time, the value of bitcoin was very low. One dollar could buy more than 1300 bitcoins. At that time, a programmer in the United States exchanged 1000 bitcoins for two pizzas, which is often ridiculed by everyone. A lot of people are saying that if his bitcoin had been preserved until now, he would have been a billionaire. But who knew that bitcoin would be so valuable in modern times? At that time, few people knew about bitcoin, so there was no hype. At that time, bitcoin had no economic purpose. It was just used to exchange game equipment
now the world uses a lot of electricity to dig bitcoin every year, because the cost of electricity is very high, and the market value of bitcoin is volatile, so the benefits obtained by digging bitcoin are very small
Trump has issued a U.S. ban on petrodollars, banning Americans or anyone in the United States from buying new Venezuelan petrodollars. As Venezuelan President Nicolas Maro said, this is the first executive order related to cryptocurrency issued by the president and another blow to an already suspicious virtual token. Presumably, the cryptocurrency is backed by oil reserves
According to cryptocurrency regulatory experts, Trump's ban is a predictable move“ Although Venezuela's attempt to issue cryptocurrency is novel, it is not new that the United States restricts financial transactions with countries subject to sanctions. " "The issue of cryptocurrency will not help Venezuela escape sanctions," said Jerry Brito, executive director of coin center, a think tankIn fact, blockchain has been developing at a high speed since its emergence. Bitcoin, as a derivative of blockchain, is also the ancestor of all virtual currencies, and its value is very high
now there are only two ways to get bitcoin, one is to buy it, the other is to use ha Yu miner Mining! I believe the value of bitcoin will be the highest in the future
The risk of bitcoin is very big. If you are not careful, you will go bankrupt. As a large commercial bank, when China CITIC Bank restricts the use of its account for bitcoin transactions, users of the account cannot use the account of China CITIC Bank for transactions. Although users can also use the accounts of other banks to trade, the attitude of big banks towards bitcoin will directly affect the bitcoin market
I don't look at the development prospect of bitcoin< p> People who speculate in bitcoin don't recognize the value of bitcoin, or even know what it is. They know bitcoin can make money, so they blindly participate in this market. In other words, investing in bitcoin is just speculation. In my opinion, investing in bitcoin is similar to buying lottery tickets. There is no logic at all. Their principal can't resist risks at all