How Bitcoin got its start

Ⅰ China CITIC Bank continues to “block” Bitcoin, how did it become popular in the first place

CITIC Bank requests that the bank account be prohibited from being used for Bitcoin transactions. Things have gradually gained popularity since December last year, and then its popularity has not receded until now, so Bitcoin transactions are still relatively hot now, even if the price has dropped.

So various governments have gradually introduced relevant policies to restrict bitcoin transactions, that is, to prevent bitcoin from becoming too popular, after all, it is a virtual currency, and it is not linked to the purchasing power in real life. , even if Tesla decides to support the purchase of vehicles using Bitcoin, it is only this individual, it is still not equal to the purchasing power in reality, so its risk is still very high.

ⅡWhy Bitcoin is getting more and more popular

Bitcoin is actually a kind of online virtual currency, originally proposed by a mysterious netizen who calls himself “Satoshi Nakamoto”. According to Satoshi Nakamoto’s design, Bitcoin is not issued by a specific currency institution. It is generated through a large number of calculations of a specific algorithm. In the first 4 years, there will be no more than 10.5 million bitcoins, and the total number after that will be permanently limited to 21 million.
At present, there are usually two ways for ordinary people to enter the bitcoin industry. One is to purchase professional machinery and equipment for “mining”, and the other is to exchange transactions such as buying and selling.
However, due to the design of the algorithm itself, the number of bitcoins generated by bitcoin will be halved every four years. From 2013 to 2016, an average of 25 bitcoins will be generated every ten minutes. Starting from 2017, this number will decrease. to 12.5. After 20 million bitcoins are mined by 2030, the remaining 1 million bitcoins will likely take decades to be mined; at the same time, as mining difficulty increases, the price of advanced mining machines is increasing. The higher it is, which sets a large “threshold” for “mining”. It is understood that since the blue ocean of “mining” has long since disappeared, coupled with the soaring price of bitcoin, many “miners” have directly switched to speculating in bitcoin, waiting for the appreciation before selling it.
The trading process of bitcoin is similar to that of stocks
Because of the attractive performance of bitcoin in the early stage, now “specializing in bitcoin” is also becoming more and more popular in China. Li Qiyuan, CEO of Bitcoin China, said in an interview with the media that the number of new registered users and user activity of Bitcoin China have increased significantly in recent times, and the upward trend is very obvious, which shows that more and more people are contacting Bitcoin.
At present, the mainstream domestic trading platforms include Bitcoin China, OkCoin, Huobi, etc. The process of trading Bitcoin is very similar to buying and selling stocks. Taking as an example, after registration, you can start to buy bitcoin by recharging RMB to the website account, and the purchased bitcoin is stored on the website trading platform. If the sale is successful, you can also withdraw RMB from your account to your own Alipay or bank account. Different from the previous 0.3% handling fee for each transaction, now the major domestic bitcoin trading platforms have successively cancelled the transaction fee. However, you still need to pay a 0.4% handling fee for recharging through Tenpay or online banking. If you withdraw cash in RMB, the withdrawal fee will be charged at the bank transfer rate starting from the second withdrawal every day.

Ⅲ How to own bitcoins

Buy on exchanges, mine by miners

ⅣHow bitcoins are generated 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. Bitcoin is a virtual encrypted digital currency in the form of P2P. Peer-to-peer transmission means a decentralized payment system.

The Bitcoin network uses “mining” to generate new bitcoins. The so-called “mining” is essentially using a computer to solve a complex mathematical problem to ensure the consistency of the distributed accounting system of the Bitcoin network. The Bitcoin network automatically adjusts the difficulty of math problems so that the entire network gets a qualified answer about every 10 minutes. Then the Bitcoin network will generate a new amount of Bitcoin as a block reward to reward those who get the answer.

Ⅳ I wonder, how did Bitcoin get popular?

How did Bitcoin get popular, we must first understand the blockchain
“ Blockchain is an important concept of Bitcoin. Following the explosion of artificial intelligence and Bitcoin, blockchain technology is also on fire! Even in the next 2018, there will be signs of unabated fever, why all of a sudden Fire, although the blockchain has flaws, its advantages are more obvious. A lot of capital will surely pour into the blockchain, because compared with other concepts, the concept of blockchain is easier to hype.”
The blockchain is based on The technical realization of a distributed storage method in cryptography, its significance lies in theIn order to ensure the safety and reliability of the information flow process, the blockchain is not absolutely perfect, it depends on many factors.
The benefits of blockchain. It has to be said that as a supplement to the social integrity system, the blockchain has natural advantages.
1. Smart contracts, smart contracts are the foundation of the blockchain platform. With smart contracts, rules can be securely applied when processing transactions. They can be used to automate verification steps, encoding conditions that were included in signed physical contracts in the past.
2. Distributed storage, distributed storage system, is to store data in multiple independent devices. Traditional network storage systems use centralized storage servers to store all data. Storage servers become the bottleneck of system performance and the focus of reliability and security, which cannot meet the needs of large-scale storage applications.
3. The pursuit of capital, the pursuit of profit by capital, is like the fire of Satan’s hell burning the source of all evil, the greed of capital will inevitably engulf all the concept of speculation, and harvest the green of the leeks. Good capital injection can also bring back the rapid development of the industry.
“Blockchain, the hottest FinTech (financial technology) nowadays. This innovative technology born from the nirvana of Bitcoin is subverting the financial industry and our lives. In 2015, the blockchain became an American innovative technology. The sector that has received the highest financing in the investment has exceeded 1 billion US dollars. This kind of hot financing scene only appears in foreign countries. “There are very few people who really understand blockchain technology in China”, a senior practitioner said, this is the reality .In China, most of the companies that claim to be blockchain technology are reluctant to give up the dividends of Bitcoin and are still in the initial stage of speculating on coins; while the transformation of the financial sector is more substantive, just speculating on concept stocks; those who are sincere in technology , very few.”
“Blockchain is the underlying technology of Bitcoin, which solves the process of Bitcoin from 0 to 1. At this stage, blockchain has become a high-frequency vocabulary at the summit of large and small technology, its The popularity is no less than the “O2O” of the previous two years. When people are discussing the blockchain, they are more about how to use the blockchain, and there is no doubt about the application value of the blockchain.” Blockchain is a Decentralized trust mechanism. In the past, the blockchain was mainly used in Bitcoin. Until the last six months, the blockchain has gradually begun to have some other applications, especially in the financial field.
Blockchain refers to a technical solution that collectively maintains a reliable database in a decentralized and trustless manner. In layman’s terms, blockchain technology refers to a way for the whole people to participate in bookkeeping. All systems have a database behind it, and you can think of the database as a big ledger. Then who will keep the ledger becomes very important. At present, whose system is responsible for keeping accounts, the account book of WeChat is kept by Tencent, and the account book of Taobao is kept by Ali. But now in the blockchain system, everyone in the system can have the opportunity to participate in bookkeeping. If there is any data change within a certain period of time, everyone in the system can do bookkeeping. The system will judge the fastest and best bookkeeper during this period of time, write the contents of his records to the ledger, and record the records. The contents of the ledger are sent to all others in the system for backup within a period of time. In this way, everyone in the system has a complete ledger. In this way, we call it blockchain technology.
Bitcoin is one of the most successful applications of blockchain technology. Specifically, the blockchain is a series of data blocks that are associated with cryptography, and each data block contains the information that multiple Bitcoin network transactions are validly confirmed. The structure of blockchain storage data is a chain composed of “storage blocks” on the network. Each block contains all the information exchange data in the network within a certain period of time. Blockchain is the underlying technology of Bitcoin. , but the role is by no means limited to Bitcoin. The horizontal expansion of nodes is realized through cluster or cloud mode operation, and the overall performance of the network is continuously improved based on healthy competition.
Bitcoin has no legal compensation or compulsion, and its circulation is limited and unstable. Bitcoin is also highly fungible, and it is difficult to act as a general equivalent in a fixed manner. No matter how sophisticated the blockchain technology is, it is impossible to create a national currency, and public investors should not follow suit.

Ⅵ Foreign programmers threw 7,500 bitcoins as garbage, how did bitcoin become popular

Speaking of bitcoin, everyone’s impression of him It may be that Bitcoin is now used as a virtual currency, but the stock price of Bitcoin in 2021 is very high. Many netizens said. The fact that Bitcoin can rise to what it is now makes many people feel very unbelievable. And there is a programmer in a foreign country who accidentally collected nearly 8,000 bits in his collectionCoins are thrown away as unused garbage, and he is very regretful for the current increase in Bitcoin.

This can also explain why Bitcoin is now on fire, mainly because of the overall shrinking state of the economy during the epidemic, which gives these Bitcoins a good rising range. It is not difficult to explain this phenomenon. However, there are also experts who have analyzed that Bitcoin will fall accordingly soon after the end of the epidemic in the future.

Ⅶ How Bitcoin became popular

Bitcoin was popular among some programmers in the earliest days, and when they exchanged data, they took bitcoin currency exchange.

Ⅷ How the value of Bitcoin was fired up

It was mainly listed on the Chicago Stock Exchange last year and attracted the attention of global capital investors.

Ⅸ The reason for the hype of bitcoin and how it got hyped up

What does it mean to search for graphics card mining today. I watched Bitcoin videos and text reports for a long time. I only knew that Bitcoin was originally related to mining! I’m just going to talk about how the bitcoins I see are pure speculation.
One day, a group of hackers who had nothing to do said, let’s play a game. This game is that I have two robots A B. They will randomly trade some bitcoins from A to B, but their network addresses change randomly. The two of them don’t know where the other is and only know a code name. Your mission is to help A find B in code around the world. Whoever finds it gets 50 bitcoins. Let’s see who has the best computer and find the most and a month later see who has the most bitcoin and who is our best hacker or computer.
One day, a hacker was hungry and had no money! He happened to know that another hacker was selling pizza. He just said to the guy, hey dude, give me two pizzas, I’ll give you 1000 bitcoins and you’re the winner of this game. Hmm no give me 1600 bitcoins. Euro K, your mother has made a deal, so the first bitcoin transaction is successful. This incident reminded the pizza seller. Why am I digging stupidly? I can just trade with other hackers. Hence the Bitcoin trading platform.
The mode of this game is known to an economic liar. He also entered the game to acquire a large number of bitcoins at high prices and made an APP, and told others to come and mine. I buy at a high price. You can buy goods with money or bitcoin. Made a mistake, nothing about Pizza Boy, it’s the liar who found out about the Bitcoin trading platform. If you see it, please ignore the above plot, and type on your mobile phone and lazily change 😓
There are more people who know about this, more people are mining, and the price of bitcoin is also increasing. People who are opportunistic think that there are only so many bitcoins. How can I make more money from mining? The answer is right, speculation, speculation, speculation, speculation. Liars say chachachachachachacha, money launderers say Chachachachachachachachacha! Someone asked the developer of this game what he thought of the development of Bitcoin. The developer touched the RMB in his pocket and the gun barrel behind him and said that when the bitcoins were mined, the two turned out to be successful. After two hundred years, the child in the Bitcoin exhibition hall in the museum asked what Bitcoin looked like. The curator pointed to the old computer and said that he looked at me and how did he know what it looked like..

Ⅹ What is Bitcoin and how does it generate revenue?

Bitcoin is actually an electronic currency data currency generated by p2p batch software, which belongs to a network virtual asset. Therefore, Bitcoin is also called Bit Gold. It is generated by a set of cipher codes through a complex algorithm. This rule is not interfered by any person or organization. Anyone can download and run or participate in the creation of bitcoin. One of the biggest features of bitcoin is that it cannot be counterfeited. It is possible to make money in the Bitcoin market by investing time and money.
Paying time is mainly to complete some small tasks on the website, and you can visit these websites every few minutes, then you will get a small amount of Bitcoin. So this can be done if there is time. If you want to make more money, you should invest money in the early stage. Bitcoin also has a special casino, so you can make more money by luck.


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