Virtual currency in different countries
According to the published data and conclusions, China will be ahead of foreign countries in terms of science and technology theory, e-payment habit and mature payment system{ RRRRR}
finally, in China, the electronic payment system is relatively perfect, that is to say, if digital currency is implemented in the future, it can be easily implemented, and the related construction cost is relatively low. Moreover, whether it is digital currency or electronic payment, the difference between the two is not big, and digital currency can adapt to more diverse scenarios, and people can accept it more easily, It will not become unaccustomed because of the sudden change, which will also lay a good foundation for the development of digital currency in our country. However, such a system and payment habit are not possessed by other countries at all, and most countries are not used to electronic payment, so there is no digital currency base at all
3. Economy refers to the general term of a country's national economy. It includes all the material proction departments and their activities in a country, and part of the non-material proction departments and their activities. We usually talk about the economic situation of different countries from the perspective of national economy (this definition makes a logical mistake, that is, the definition of cycle).
the investigation conclusion of public security organs is the most authoritative
however, judging from the current public information, it is difficult to identify or have no authoritative conclusion.
problem
when bitcoin is designed not to be a nominal hyperinflation, they can be a real hyperinflation. At present, many counterfeit coins have been designed, such as litecoin, namecoin and freicoin which will be issued soon. This view is particularly reasonable. Because bitcoin is a starfish, for example, it is completely decentralized. Ori Brafman and rod a. Beckstrom once said“ Starfish have no head at all. Even the center of its body is not the core. In fact, its main organs are copied from each arm. If you cut the starfish in half, you'll be surprised: this animal won't die, and you'll soon have two starfish to deal with. "
after the disappearance of Napster, Skype's inventor Niklas zennstr & # 246; M launched his invention, Kazaa, which has no central server to shut down. Eventually, such peer-to-peer programs sprang up, such as Kazaa Lite, eDonkey, eMule, and BitTorrent. While this would be good news for those who like to download and share things for free, it's certainly not good news for those who think bitcoin will avoid inflation. Those who compare bitcoin to language ignore the fact that most people have no motivation to suddenly create a new language. On the other hand, there are many stories in history about people looking for the magic stone that can magically make gold. There may be no doubt that bitcoin has an inherent mechanism to trigger the gold rush. This mechanism has already appeared in litecoin, and will certainly appear in the follow-up Shanzhai coin
money
is bitcoin in line with Austrian economists' views on money? The only way to find out is to read what the great Austrian scholars said. Let's start with Carl Menger. In the principles of economics, Menger expounded a point of view: money as a general medium of transaction has always tended to become the best-selling commodity in history
what is bestseller? It's not just about value. One may have a Picasso painting in one's home that will sell for a lot of money at Sotheby's auction ring the economic boom. But a Picasso painting, like a Friedrich Shiller poem, a Sanskrit book, or a bottle of red wine that has been stored for decades, will never be the best seller. As Menger points out, bestseller is "the function that makes (a commodity) be sold in the market at any convenient time and at the existing purchase price after it has shrunk or shrunk. Compare the number of people who might buy bread and meat with the number of people who might buy astronomical instruments. "
Menger goes on to point out that cattle were the best-selling commodity in ancient times. This is very easy to understand in a world where most people are barely fed and fed and where the structure of proction basically does not exist. However, with the development of society, cattle are becoming less and less popular
with the progress of civilization, Menger states that "... Due to the improvement of the material environment of economic development, the national currency with copper as currency continues to develop from relatively less precious metal to relatively precious metal, from copper and iron to silver and gold, which also brings the further progress of civilization, especially the expansion of the scope of commercial geography."
there are many reasons for gold to win, such as rability, good mercerization, good ctility, easy segmentation, uniform texture and scarcity. But the fundamental reason is that gold is the best-selling commodity. Menger went on to write: "if you know where the right market is, the gold nuggets that a dirty Transylvanian Gypsy panned out of the sand of the aranyos River are equally popular in the hands of both the gypsy and the owner of the gold mine. Nuggets can be sold countless times without any rection in their popularity. But for the clothes, bedding, cooked food and other things in the hands of this Gypsy, even if he has not used them and from the beginning he only obtained them for exchange, they will either be repugnant and few people buy them, or the price will be greatly reced. "
this brings us another criticism of bitcoin. It will never be the best seller. The reason is simple. Digital money won't work until most of the 7 billion people on the planet have smartphones or surf the Internet regularly
on the other hand, gold is easy to identify, as opposed to silver, which may be mistaken for other metals such as nickel. In addition, it not only has a relatively low melting point, but also is relatively soft. This makes it excellent in mercury homogenization and explains in part why it has historically outperformed other metals such as platinum. If anyone doubts the status of gold in today's monetary system, he just needs to walk on the streets of big cities to see the sign of "we buy gold". Moreover, central banks hold gold and a lot of it. They don't hold cattle, wheat, soybeans, copper, silver or bitcoin
Menger also wrote: "I am now ready to admit that under the highly developed terms of trade, money is only regarded as a symbol by many economic actors. However, it is quite certain that if coins lose the characteristics of bulk instrial raw materials, this illusion will disappear immediately "
although it is very likely that some early bitcoin users valued bitcoin because of what Menger described as virtual value, the view of the best-selling commodity is worth reviewing. Gold is and has been regarded as beautiful since the beginning of civilization. Therefore, the argument that a few people consume bitcoin like Picasso's painting and come to the conclusion that bitcoin conforms to the regression theorem is like saying that because John law or Ben bernarde really enjoys being a monopolist, banknotes are valuable. In fact, given the amount of time and effort spent searching for the Sorcerer's stone, we might as well say alchemy. Maybe some people enjoy their work purely for the pleasure of the work itself. However, this can not be an effective proof of slavery or labor theory of value<
anonymity
with the fading of common views on bitcoin's fight against hyperinflation and no longer convincing, the new reasons for holding bitcoin are its anonymity and the freedom it provides. Want to gamble or buy something illegal online? Bitcoin is the solution. It is said to be a way to avoid regulatory authorities and promote free and voluntary trade growth. There are many similar statements. Unfortunately, for many people who are misled, the reality is cruel. Best listen to the opinions of bitcoin developer Jeff garzik himself http://www.youtube.com/watch?v=zhj1zeisqWY The interesting part starts at 3:20
the irony is that every transaction of anyone who uses bitcoin to engage in illegal activities, presumably because he thinks bitcoin is anonymous, is permanently kept in the public ledger. People who are smart enough to use extensions like tor are just as stupid as people who think prepaid cards or smartphones are anonymous. Imagine if bitcoin had existed 50 years ago. It is possible that none of the latest three presidents, including Obama, will run
bubble time?
the remaining question waiting to answer is whether bitcoin is appearing again in the form of bubbles. The answer is yes. Now there's a reflexive model: people buy because prices go up; Because people buy, so the price goes up. This shortsightedness is driving the price trend of the past four months. Because people think it's normal, they continue to push prices up, attracting more idiots. When the continuity of optimism is broken, the turning point will appear. One thing is for sure. Those left behind who are willing to jump on the accelerating train and the amount of their money will be reced
when the asset price becomes parabolic, it will cause technical damage to the price trend. It's like sprinting at full speed in the middle of a marathon. Of course, this person will have a few minutes to look great. However, it will inevitably stop, and the hope of completing the game will become dim, not to mention the possibility that his performance will be as good as that of other strategies
the price of gold became parabolic in the second half of 2011, reaching $1900 an ounce. This has done a lot of damage to its price trend: gold is now just beginning to depreciate. Just like Icarus in Greek mythology whose wings made of Wax Melt e to flying too high, parabolic movement always ends with adjustment. If the parabolic movement is too long, it will eventually collapse. Ironically, the best thing that can happen to the negatives of bitcoin is that bitcoin soars to $300 a piece in a week
it is not against Austrian economics to admit that there are many naive, irrational and misguided participants in the market. For example, ring the dot com bubble, the price of a repair and construction company called Temco Services almost doubled to three times in the middle of 1998. The reason is that before 1998, many laymen came to the market. As a result, the level of competition has declined significantly. TEMCo's stock code is tmco. This is very similar to the stock code TMCs of Ticketmaster online at that time. Ticketmaster online (TMCs) was trading for the first time on the day when the share price of TEMCo services (tmco) tripled. The rising asset prices proce cheerful mental state, which significantly reces the IQ of participants
the reason why another bitcoin is so vulnerable to bubble behavior is that people think it is new. New era thinking always attracts a lot of attention. Tulip was introced to Europe via Turkey in the middle of the 16th century (in fact, the word tulip comes from Tulipan in Turkish). It means headscarf. Tulips were a novelty to Amsterdam, a kingdom rich in newly discovered gold and silver from the new world. Similarly, the Mississippi bubble designed by John Law promises that people will have huge wealth from the new world. The rail, radio and Internet craze, and most of the craze you can think of, is about something new or something that people think is new
there is no doubt that bitcoin is a spontaneous answer to the currency instability we see around us today. On one side of the Atlantic, people are worried about the eye-catching euro currency peg policy, while on the other side, the huge damage caused by Ben Bernanke has made the world's reserves worse
1. China RMB
the legal currency of the people's Republic of China is RMB, and the people's Bank of China is the national authority in charge of the management of RMB, which is responsible for the design, printing and issuance of RMB
2, North Korea Korean won
Korean won;, Chinese characters: circle, symbol: ₩; Code: KPW) is the currency unit of the Democratic People's Republic of Korea. The unit under the circle is money;, Chinese character: Qian), one yuan in Korean yuan is equal to 100 yuan
3, Korea The basic unit of won is won. The monetary unit of Korea is & quot&# 50896;& quot;， Chinese characters are written as "Yuan" or "Yuan", and Pinyin is represented by "won" (#8361;)[ 1] Sometimes, it is also called "bu" (50896;);, Won) ISO 4217, the international organization for standardization, defines the standard code as KRW
4, Japan Japanese yen (Japanese: 円, Japanese Roman: en, English: yen), whose banknotes are called Japanese bank notes, is the legal currency of Japan, and Japanese yen is often used as reserve currency after US dollar and euro
5, Mongolia Mongolian Tugrik (MNT) is the currency in circulation in Mongolia. After the implementation of monetary reform in 1925, the instrial and Commercial Bank of Mongolia (later renamed as the National Bank of the people's Republic of Mongolia) began to issue its own currency Tugrik on December 9
this is the first set of its own currency issued by Mongolia. Major currencies, including RMB, are freely convertible in Mongolia, and the exchange rate fluctuates with market supply and demand
6, Vietnam Dong
Dong (Vietnamese: đ&# 7891; The unit of money in Vietnam. Use "& It is indicated by the mark. The number of subsidized units is h à O and Xu, 1 Dun = 10 h à O = 100 Xu, which is rarely used e to its small face value. Usually placed after the name of a country to denote a monetary unit
extended information:
1. The African Financial Community Franc is the unified currency of the West African Economic and monetary union, which is referred to as the West African Franc (FCFA)
at present, the CFA franc zone includes eight member states of UEMOA (Benin, Burkinabe, Cote d'Ivoire, guinea pigs, Mali, Niger, Senegal and Togo) and six member states of CEMAC (Cameroon, Central Africa, Congo, Gabon, Equatorial Guinea and Chad) as well as the Comoros
the Bank of France and the banks of the West African countries concerned are the co Issuing Departments of the West African Franc. The West African Franc is an important tool for financial and economic cooperation between France and the eight West African countries
2, Central African CFA franc is a kind of African Franc, which is a currency issued by the national banks of the Central African economic community. The currency code of ISO is XAF
CFA is the official currency of Equatorial Guinea, the Republic of Congo, Gabon, Cameroon, Chad and Central African Republic
3, Dinar (Arabic: د&# 1610;&# 1606;&# 1575;&# 1585; It's Libya's currency in circulation. Currency number LYD. 1 Dinar = 1000 dirhams
4, Pakistan Rupee is the currency title of Pakistan, and the coins in circulation in Pakistan are 1 rupee, 2 rupee, 5 rupee and 10 rupee
on the obverse, the head of Muhammad Ali Jinna is shown, and on the reverse, the scenic spots of Pakistan are shown
On February 24, 2003, the Central Bank of Pakistan approved the use of Chinese RMB for settlement in its export business, making Pakistan the fifth country to use RMB for export settlementin terms of operability and authenticity, virtual currency is not as good as real currency.