5 thoughts on “Bitcoin prices have increased by 10 million times in ten years. What are the principles and functions of Bitcoin?”
Johnathan
Since Bitcoin was born in 2009, the first price when buying Bitcoin in 2010 was about $ 0.0025. Based on the price of $ 27,000, the price increase since Bitcoin was born has reached 10.8 million times! In other words, the original investment of 1 yuan can be purchased 61.3 Bitcoin, and the current position is worth 10.8 million yuan. Even if Bitcoin has achieved such amazing growth, Citibank has recently announced the target price of $ 300,000, which is 11 times the current price! On January 3, 2009, a hacker named Satoshi Nakamoto released the first version of the open source Bitcoin client on the Internet, and Bitcoin was born. In summary, Bitcoin is based on a set of codes, which is generated by a messy algorithm. This rule is decentralized without any individual or arranged. Anyone can download and run the Bitcoin client to participate in the production of Bitcoin. Bitcoin uses electronic signatures to complete the process, and check repeated consumption through the P2P distributed network. The occurrence and consumption of each bitcoin will be recorded, and it is reported to the entire network through the P2P distributed network, and there is no possibility of fraud. design according to the algorithm, the value of Bitcoin will be halved every four years. A total of 2.14 billion Bit coins will not be increased. Because each trading of Bitcoin is recorded, people can know the whereabouts of each bitcoin, so the number of Bitcoin issued at that time can also be found on the website. Unlike a policy of maintaining a stable currency and silver value, the price of Bitcoin has been rising crazy. If you want to fully understand the source of Bitcoin, you must mention the existing financial system. As we all know, money itself is worthless. At first, people traded in the way of ease, but there were many inconveniences, and it was difficult to use it to exchange what they needed. Therefore, Qian Yin came into being. Through Qianyin's intermediary, different products can be priced according to their rarity and simplify business processes. although there are many fatal disadvantages of concentrated transactions. 100%of the existing currencies and banks in the world are issued or abandoned by the National Central Bank, and ordinary people cannot participate in the issuance of currency and bank or central bank account. If the central bank continues to issue currency silver, it will continuously dilute the money in people's hands to reduce the purchasing power of currency silver. This is not shocking. This happened in some countries in the world. Taking Zimbabwe as an example, in recent years, the government has issued a large number of currencies and silver, causing Zimbabwe's economic collapse, and eventually had to introduce the US dollar into local legal currencies and silver. Economists are considering replacing Bitcoin in Zimbabwe.
Bitcoin is the most successful application of blockchain technology, but there are many problems in Bitcoin itself. It wants to challenge sovereign currency by issuing currencies. This motivation needs to be questionable. In addition, due to the anonymity of Bitcoin, only one public key or address can be traded, providing a good platform for the black industry. In addition, Bitcoin is not a mature payment system. It has a low throughput and poor expansion.
The principle of Bitcoin is to get a string of complex data through calculating problems, and each bitcoin data is unique and irreplaceable, and before the quantum computer is realized It is absolutely safe, so we can realize the "security payment" of transactions through Bitcoin. Bitcoin has recently risen by $ 30,000, but in fact, we all know that any bubble will eventually have a shattered day.
Bitcoin is an electronic currency, a currency -based currency. Bitcoin can realize the free circulation of value. Convenient and low multinational trading means.
Since Bitcoin was born in 2009, the first price when buying Bitcoin in 2010 was about $ 0.0025. Based on the price of $ 27,000, the price increase since Bitcoin was born has reached 10.8 million times! In other words, the original investment of 1 yuan can be purchased 61.3 Bitcoin, and the current position is worth 10.8 million yuan. Even if Bitcoin has achieved such amazing growth, Citibank has recently announced the target price of $ 300,000, which is 11 times the current price!
On January 3, 2009, a hacker named Satoshi Nakamoto released the first version of the open source Bitcoin client on the Internet, and Bitcoin was born. In summary, Bitcoin is based on a set of codes, which is generated by a messy algorithm. This rule is decentralized without any individual or arranged. Anyone can download and run the Bitcoin client to participate in the production of Bitcoin. Bitcoin uses electronic signatures to complete the process, and check repeated consumption through the P2P distributed network. The occurrence and consumption of each bitcoin will be recorded, and it is reported to the entire network through the P2P distributed network, and there is no possibility of fraud.
design according to the algorithm, the value of Bitcoin will be halved every four years. A total of 2.14 billion Bit coins will not be increased. Because each trading of Bitcoin is recorded, people can know the whereabouts of each bitcoin, so the number of Bitcoin issued at that time can also be found on the website. Unlike a policy of maintaining a stable currency and silver value, the price of Bitcoin has been rising crazy. If you want to fully understand the source of Bitcoin, you must mention the existing financial system. As we all know, money itself is worthless. At first, people traded in the way of ease, but there were many inconveniences, and it was difficult to use it to exchange what they needed. Therefore, Qian Yin came into being. Through Qianyin's intermediary, different products can be priced according to their rarity and simplify business processes.
although there are many fatal disadvantages of concentrated transactions. 100%of the existing currencies and banks in the world are issued or abandoned by the National Central Bank, and ordinary people cannot participate in the issuance of currency and bank or central bank account. If the central bank continues to issue currency silver, it will continuously dilute the money in people's hands to reduce the purchasing power of currency silver. This is not shocking. This happened in some countries in the world. Taking Zimbabwe as an example, in recent years, the government has issued a large number of currencies and silver, causing Zimbabwe's economic collapse, and eventually had to introduce the US dollar into local legal currencies and silver. Economists are considering replacing Bitcoin in Zimbabwe.
Bitcoin is the most successful application of blockchain technology, but there are many problems in Bitcoin itself. It wants to challenge sovereign currency by issuing currencies. This motivation needs to be questionable. In addition, due to the anonymity of Bitcoin, only one public key or address can be traded, providing a good platform for the black industry. In addition, Bitcoin is not a mature payment system. It has a low throughput and poor expansion.
The principle of Bitcoin is a math solution, which has no effect, just a different solution to a problem designed by a person named Nakamoto.
The principle of Bitcoin is to get a string of complex data through calculating problems, and each bitcoin data is unique and irreplaceable, and before the quantum computer is realized It is absolutely safe, so we can realize the "security payment" of transactions through Bitcoin. Bitcoin has recently risen by $ 30,000, but in fact, we all know that any bubble will eventually have a shattered day.
Bitcoin is an electronic currency, a currency -based currency. Bitcoin can realize the free circulation of value. Convenient and low multinational trading means.