The causes of virtual currency

The concept of bitcoin was first proposed by Nakamoto on November 1, 2008, and was officially born on January 3, 2009. According to the idea of Nakamoto, the open source software is designed and released, and the P2P network on it is constructed. Bitcoin is a virtual encrypted digital currency in the form of P2P. Point to point transmission means a decentralized payment system

bitcoin network generates new bitcoin through "mining". In essence, the so-called "mining" is to use computers to solve a complex mathematical problem to ensure the consistency of bitcoin network distributed accounting system. Bitcoin network will automatically adjust the difficulty of mathematical problems, so that the whole network will get a qualified answer about every 10 minutes. Then bitcoin network will generate a certain amount of bitcoin as block reward to reward the person who gets the answer

The main background of net currency is the difficulty of domestic micro electronic payment. Online game operators use this channel is not cheap vouchers to charge fees. Originally, only RMB was allowed to be exchanged for net currency, but reverse exchange was not allowed. However, with the development of online game instry, people spontaneously exchange various kinds of online currency, and even use online currency to buy physical procts or services that only RMB can buy, forming a purchasing power similar to currency. The boundary between virtual currency and real currency is graally blurred
in fact, in countries with developed financial environment, virtual currency has appeared for a long time, and its purpose is to make profits. For example, the virtual currency "Wangdou" first introced by beenz. Beenz has reached an agreement with MasterCard that consumers can not only save their online beans into smart cards, but also use them in traditional stores. This business model is to sell virtual net beans to some websites for 1 cent each, and then send them to netizens or let them win through various ways. These virtual currencies can be consumed as cash in online stores. In the end, beenz will buy it back from the website operator for 0.5 cents each for a profit. In 2000, there were about 750 million beenz beans in circulation, equivalent to 60 or 70 million yuan. It was also at that time that China's online currency appeared. China bonus provided virtual currency to consumers in the form of points. Points accumulated to a certain amount, can be used to exchange phone cards, network cards, T-shirts and other prizes
in online games, virtual goods such as virtual gold coins, virtual equipment, virtual animals and plants, and virtual people have great attraction for players, which promotes the consumption of these virtual goods. However, e to the backwardness of domestic electronic payment methods and security concerns, players often use cash in advance to buy the virtual currency issued by operators, Then use these vouchers to buy virtual goods online. As long as the content of the game is attractive enough, players will buy the virtual currency issued by the game operator through various channels. The development of online game instry has led to the surge of virtual currency types and circulation
in order to gather popularity, expand the number of game users, and improve the interest and loyalty of players, all game operators provide a considerable amount of free virtual currency, and players can win virtual currency through the game process. Therefore, online game operators actually have unlimited rights to issue virtual currency. If virtual money is only used to buy virtual goods, because the supply of virtual goods is artificially set, and the manufacturing time can be almost ignored, even if there are transactions between different types of virtual money, it will not have any impact on the real economy. However, if virtual currency can be used to buy real goods and services, excessive issuance will certainly cause inflation. At this time, whether the virtual currency is converted into real currency is not important
many domestic network enterprises have broken through the boundary between the virtual economy and the real economy. For example, Netease popo rewards users with money according to their online time. This virtual currency can pay for SMS. The exchange rate in this application can be calculated with the payment capacity of a short message worth 1000 yuan equal to 0.4 yuan; In addition, it can also be used as a voucher for purchasing physical goods in Netease mall. Holders of Shanda point coin can buy paid download services on the Internet. In addition to the company's paid services, q-coin can also be used to purchase other game point cards, virtual goods, and even some video and software download services
the emergence of money is an abstract unit of quantity for the convenience of exchanging different resources. If there are enough people to recognize the value of a virtual currency, it may become a substitute unit of material exchange. For example, with the popularity of QQ, Q coin has graally become a circulating equivalent exchange unit. Adam Smith, a famous economist, used barter to explain the origin of money in 1776: "the armor of Diomedes is only worth 9 cows, while the armor of glaucus is worth 100 cows. In Abyssinia, salt is a common medium of Commerce and trade; More than 200 years later, many people are exchanging various kinds of game currency for real life needs, and the Internet world has begun to dece the origin of currency again

1. With the development of social proctive forces and social division of labor, exchange becomes more and more frequent and complicated

2. Goods that act as the medium of exchange, value, storage, price standard and deferred payment standard

3. Excess supply or demand will lead to excess demand or supply of other assets

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5. No interest is needed to be paid as the current assets of public net wealth

6, the most liquid assets related to national income, etc

references

network currency

Money is a tool used as a medium of transaction, storage value and unit of account

many different cultures in the world end up with commodity currency. For example, the scheckler used by the Hebrews was originally a unit of weight, and later referred to a specific weight of barley, which belonged to commodity currency

the first use of money was in Mesopotamia 3000 years ago. Shellfish were used in America, Asia, Africa and Australia, usually with precious shells. According to Herodotus, Lydia were the first people to use gold and silver coins in the West. Many scholars believe that the earliest coins appeared in 650-600 BC

the commodity currency of some cultures has graally become a substitute currency. Gold or silver merchants or banks will provide receipts for the deposited commodity currency, and can exchange the commodity currency according to the receipts. Finally, receipt can replace commodity currency and become a widely accepted method of payment, and finally become currency

extended data:

functions of currency:

1. As the medium of transaction, currency can be used to complete transaction without barter. Its main feature is that in the sale of goods, the transfer of goods and the transfer of money are completed at the same time. Generally speaking, it is one-hand payment and one-hand delivery

when money performs the function of value measure, money only needs to exist in imaginary or conceptual form, but its unit must depend on the currency circulating in reality. It is precisely because of the value scale function of money that people can first convert different forms of goods into the price form of money, and then exchange with other goods