Bitcoin cannot be cashed

(1) Can Bitcoin be realized?

Can Bitcoin be realized? The answer is that Bitcoin can be realized, and now it is not on the one that sells B. It can be turned into cash and can be sold!

㈡How to legally realize bitcoins

Bitcoins can be realized mainly through online transactions now

㈢ Why Chinese bitcoins cannot be withdrawn

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㈣ How to transfer the bitcoins in the btc wallet to cash out

After the previous zf policy, on October 31st, the domestic bitcoin exchanges have basically been closed, so if bitcoin wants to be realized, it can only be traded on the foreign bitcoin otc over-the-counter exchanges. Many of these closed platforms are opened abroad. The otc over-the-counter exchange, but I don’t use it much. I only used the coinbee platform and sold a few coins. This is how his otc trades. The basic routine is the same. The coinbee platform obtains your wallet address, then recharges bitcoin into it, selects the advertisement, selects the quantity, price, and acceptable transfer method, such as Alipay or bank transfer, if someone wants to buy your coins, he will send a transaction request Give it to you, then you will host the bitcoin, wait for him to call you the money, and click on the platform to complete the payment. After you confirm the receipt of the payment, click on the platform to release the bitcoin, and the transaction is completed. , this is what I actually do, there will definitely be risks, be cautious, this is my personal practice, I hope it will be useful to the subject.

(v) How to realize the currency in hand after Bitcoin stops trading in China

The concept of Bitcoin (Bitcoin) was originally proposed by Satoshi Nakamoto on November 1, 2008, And was officially born on January 3, 2009. The open source software designed and released according to the ideas of Satoshi Nakamoto and the P2P network built on it.

Compared with fiat currency, Bitcoin does not have a centralized issuer, but is generated by the calculation of network nodes. Anyone can participate in the creation of Bitcoin, and it can be circulated all over the world and can be placed in any one place. buy and sell on a computer connected to the Internet.

No matter where they are, anyone can mine, buy, sell or receive bitcoin, and the user’s identity information cannot be identified during the transaction process. On January 5, 2009, Bitcoin, which is not controlled by the central bank and any financial institution, was born. Bitcoin is a digital currency consisting of strings of complex codes generated by a computer, and new bitcoins are made through a preset program.

㈥ The Bitcoin trading platform has been shut down. How to realize it?

Over-the-counter trading or trading on foreign exchanges.

㈦ Bitcoin suddenly plunged, why is Bitcoin not allowed to be withdrawn

Because Bitcoin is currently just a psychological currency, and withdrawals from any channel are not allowed.

For those who invest in Bitcoin, if they need to withdraw cash during the process of investing in Bitcoin, they actually need to use offline transactions instead of so-called financial management software. At present, many countries and regions do not recognize Bitcoin as a virtual currency, and even some regions have listed Bitcoin as the object of strictly prohibited speculation.

Bitcoin took a sudden dive.

After reaching $65,000 before Bitcoin, the current Bitcoin is in a correction phase, and there will be a staged dip almost every once in a while. Now Bitcoin has fallen a lot compared to before, and it is currently around $50,000. Because the Bitcoin market is not stable, sometimes it can plummet thousands of dollars in just one hour, which has also caused many people to liquidate their positions and lose their money.

Some people say that one day in the currency circle and 10 years in the world are not exaggerated at all. I think investing in virtual currencies is like a roller coaster ride, not for most people.

㈧ Why can’t bitcoin become money?

The number of bitcoins is too small to be circulated on a large scale in society. And its existence is not based on national credit as a guarantee, but on the basis of trust between Bitcoin players, so the credibility of this “currency” is relatively low.

Furthermore, the small number of bitcoins and the concentration in the hands of a few big players makes its price very unstable. This basically cannot be called currency. Because an important premise of being a common currency is price stability, otherwise the economic order will collapse.

Bitcoin does not have a value base; the price fluctuates wildly; and it lacks the support of the monetary authorities of various countries. These are the three basic reasons why Bitcoin cannot become a world currency.

Can Bitcoin become real?Currency in the sense of? http://www.financialnews.com.cn/yw/pl/201401/t20140107_47595.html

Since the birth of the first Bitcoin 7 years ago, the rapid development of Bitcoin has also caused a Less controversial. The focus of discussion by all parties is mainly on how to characterize Bitcoin, whether it can become a currency or even an international currency in the future.

In 2013, Bitcoin was very popular in my country, not only the price soared, but also evaluated by some analysis as “a big challenge to the current monetary system”. In early December 2013, the People’s Bank of China and five ministries and commissions issued the “Notice on Preventing Bitcoin Risks”, pointing out that Bitcoin is a specific virtual commodity, not a real currency. Subsequently, the price of Bitcoin fell.

At the beginning of the new year, on January 4, Bank Negara Malaysia announced on its website that it does not recognize Bitcoin as a legal currency, and urged the public to be vigilant about the risks it poses. In fact, since the second half of 2013, countries such as South Korea, Thailand, Indonesia, and Norway have successively stated their positions on Bitcoin trading activities, and none of them have recognized Bitcoin as a currency circulating in the market.

At the same time, it is reported that in January this year, the world’s first Bitcoin ATM Robocoin entered the Hong Kong and Taiwan markets. The company also plans to launch bitcoin ATMs in more regions in Europe, Canada and the US.

On the one hand, it is the “stance” of the relevant regulatory authorities. On the other hand, it is the rapid progress of the global layout of Bitcoin. How to characterize Bitcoin and how its future development momentum will once again attract the attention of all parties.

Sheng Songcheng, director of the Investigation and Statistics Department of the People’s Bank of China, published an article in his own name entitled “Virtual currency is not a currency in essence – taking bitcoin as an example”, emphasizing that the virtual currency represented by bitcoin is essentially It is not a currency, and it is difficult to become a currency.

He believes that Bitcoin lacks national credit support, and it is difficult to perform the function of commodity exchange medium as a standard currency. Modern credit currency (paper money) represents national credit and actually represents the production and transaction of commodities in the whole society. As long as the state machinery is functioning properly, the coercive force of state laws can give the public trust in the standard currency. Bitcoin not only has no value in itself, but also has no national credit support, and there is no guarantee of commodity production and trading in the whole society, so it does not have the value basis of currency. In addition, Bitcoin has no legal compensation and compulsion, and its circulation scope is limited and unstable. Bitcoin is so fungible that it is difficult to act as a general equivalent in a fixed manner.

Secondly, there is an upper limit on the number of bitcoins, which makes it difficult to adapt to the needs of modern economic development. He believes that there is a contradiction between the limited amount of Bitcoin and the expanding social production and commodity circulation. If it becomes a standard currency, it will inevitably lead to deflation and inhibit economic development. The limited quantity also greatly reduces the function of Bitcoin as a means of circulation and payment, making it easier to become an object of speculation rather than a medium of exchange.

Third, Bitcoin lacks a central adjustment mechanism and is incompatible with the modern credit currency system. Sheng Songcheng believes that Bitcoin does not have a centralized issuer, and it is easy to be over-hyped, resulting in excessive price fluctuations, and it cannot become a currency of denomination and circulation. the role of means.

At the end of the article, Sheng Songcheng also made it clear that currency is inseparable from economic operation and economic development, and is not a purely technological product. As long as there is no fundamental change in the form of modern economic and social organization, a currency system based on national credit will exist, and Bitcoin and other virtual currencies will not become the standard currency of a country, and thus will not become currencies in the true sense.” It is nothing but a utopia of technocrats and absolute libertarians.”

As for the prosperity and significance of Bitcoin, Sheng Songcheng explained, “The emergence of Bitcoin in a sense reflects people’s concerns about inflation under the condition of credit currency. Central banks should strengthen liquidity management. , reasonably regulate the money supply, maintain the basic stability of prices, and promote the stable development of the economy and society.”

During the writing of this article, our reporter contacted Sheng Songcheng again on bitcoin-related issues. In the interview, he emphasized again: “Bitcoin is not a currency in the real sense, and the currency in the real sense can only be a standard currency.”

Sheng Songcheng said, “From the perspective of the history of monetary theory, bitcoin is not It is not a new thing. Its essence is the privatization of currency issuance or the denationalization of currency. The famous Austrian economist and Nobel Prize winner Hayek proposed many years ago, and the famous American economist Fried Mann has also made similar suggestions. But their opinions are only a theoretical analysis tool, which is difficult to operate in actual economic life, and the modern economy is increasingly inseparable from the state’s macro-control.�The financial crisis and its response is a good example of this. Currency is one of the main means of national macro-control and the foundation on which modern countries and governments depend, so how can they be privatized? So I use words like ‘utopia’. “In my opinion, technology cannot replace national attributes. Any digital currency can only be the realization of the standard currency. Therefore, electronic currency will develop, and virtual currency is utopia. Sheng Songcheng said, “As long as a modern country exists, virtual currency cannot become currency. Many people ignore the national and social attributes behind currency, and think that currency is just a natural body. “

As for the future development prospects of Bitcoin, an analyst of a commercial bank who was interviewed said: “Bitcoin trading is a commodity buying and selling behavior on the Internet, and ordinary people take their own risks on the premise. With the freedom to participate, there is still a lot of room for development in this regard. At present, given that Bitcoin has not had any impact on the monetary policies of central banks, and from the perspective of issuance technology, it seems to be instructive, so many central banks are taking a wait-and-see attitude. “

But as for whether Bitcoin can take on the important task of currency and even international currency in the future, the analyst said “not optimistic”. He said, “Even if some countries want to use Bitcoin as the world’s settlement currency, but Is it in private hands, with wildly fluctuating prices, and an international currency? Moreover, an important premise of its becoming an international currency is that the authorities of all countries recognize its currency properties, which is a problem in itself. “

Sheng Songcheng also said, “Bitcoin does not have a value base; the price fluctuates violently; and the lack of support from the monetary authorities of various countries are the three basic reasons why Bitcoin cannot become a world currency.” ”

㈨ How to cash out bitcoins

You are teaching me how to do things

㈩ Can bitcoins be withdrawn in China?

Yes As the number of initial coin offerings increases, incidents such as hacking into exchanges such as Coinbase or personal wallets reflect the same, cybersecurity experts say. AsTech, the chief security strategist at San Francisco-based security consulting firm AsTech “Digital tokens are very lucrative for criminals, and in almost all cases, a common application vulnerability is exploited by malware,” said Nathan Wenzler, a teacher. This way, the attacker can obtain user information, and the hacker can then Fraudulently buy more cryptocurrencies, or use the user’s credit card information stored in the account.
Extension information: If your currency is on the platform, you can directly check whether there is a function of exchange and withdrawal on the platform, and if so, you can Direct exchange and withdrawal, if not, you can withdraw to your wallet first; if Bitcoin is in your wallet, you can directly find an outside agency, similar to a trading platform like Btccas, you can directly apply to convert it into RMB.
Bitcoin is an electronic encrypted currency, which uses blockchain as the basis of payment technology, adopts the characteristics of decentralization, globalization, and does not require third-party institutions or individuals. It is based on a peer-to-peer network without borders, and is based on consensus initiative. Bitcoin (pseudonym), created by the invention of open source software, is the ancestor of cryptocurrency and blockchain, and is currently the most popular cryptocurrency. Everyone can participate in Bitcoin activities and can be called “mining” It is distributed through computer operations. In order to avoid inflation, the upper limit of the Bitcoin protocol is 21 million. Using Bitcoin as a private key for digital signatures allows individuals to pay directly to others without going through third-party institutions such as banks, clearing centers, Securities dealers, etc., thus avoiding high fees, cumbersome procedures and regulatory problems.
Since this year, the price of bitcoin has skyrocketed like a rocket. The price of bitcoin in May topped $2,700, which is in line with the Compared with the closing price of $997.57 on the first day of 2017, it is equivalent to an increase of more than 100% in five months. After 4 months of rectification, China’s three major bitcoin trading platforms are resuming the withdrawal business However, the three major trading platforms have set an upper limit on the withdrawal amount. In this regard, some market participants believe that the resumption of withdrawal may stimulate the domestic bitcoin price to rise further.

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