The advantages of bitcoin

① Find the abbreviations of various digital currencies. For example, Bitcoin is abbreviated as BTC

Digital currency is abbreviated as DIGICCY, which is the abbreviation of “Digital Currency” in English, and is an alternative currency in the form of electronic currency. Both digital gold coins and cryptocurrency belong to digital currency (DIGICCY). A digital currency is an unregulated, digital currency, usually issued and managed by developers, accepted and used by members of a specific virtual community. The European Banking Authority defines virtual currency as: a digital representation of value that is not issued by a central bank or authority, nor linked to fiat currency, but which, because it is accepted by the public, can be used as a means of payment and can also be transferred, stored or traded in electronic form .

Warm reminder:
1. The above information is for reference only and does not make any suggestions;
2. According to the “Announcement on Preventing Token Issuance Financing Risks”, there is no approval in my country digital currency trading platform. According to my country’s digital currency regulations, investors have the freedom to participate in digital currency transactions at their own risk.
Response time: 2021-02-01, please refer to the official website of Ping An Bank for the latest business changes.
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②What is the English abbreviation of Bitcoin

Bitcoin English abbreviation is BTC
Please accept it if you are satisfied, thank you.

③ About the English translation of Bitcoin, I can’t understand it, who knows? Urgent

Security loopholes and hidden dangers
It is possible but unlikely to be newly discovered A bug or security hole in the standard client could result in a blockchain split or the need for a short double upgrade for each node. For example, a single malformed message tailored to exploit a particular vulnerability, when propagated from one node to another, could cause the entire network to shut down for hours. Bugs break user anonymity, conversely, there are discoveries, due to less analysis of Bitcoin’s pseudo-anonymity properties. As of version 0.7.0, the Bitcoin client can be considered a full-fledged project. The source code of the security-critical parts, the code is updated less frequently by Andris and those parts have been reviewed by many computer security experts. Also the Bitcoin Satoshi client has been tested online for over 3 years without a single vulnerability being exploited in the wild. For a detailed list of vulnerability detection and repair, please refer to common vulnerabilities and hidden dangers

④ What is Bitcoin, please explain its history in a simple way

Tell me about my understanding: Someone invented an equation (algorithm?), this equation has 21 million solutions, so a game is developed based on this equation, whoever finds a solution to this equation will give this person a reward called “Bitcoin” Taste. So many people started playing this game (boring?). In the beginning, some solutions to this equation can be found quickly by using a general CPU. For example, player A said that I found and understood a1, so A asked all the people who participated in the game, “Have you found the solution of a1?” So everyone took the solution of a1 to verify and asked whether they had calculated a1. If no one objected to “a1 is a solution of this equation”, and no one found a1 before A, then Luckily, A will get one bitcoin. When more and more players participate in this game, more and more solutions are found. If you want to find new solutions quickly, you need more powerful computing power, and the process of solving equations involves a lot of floating-point operations. Traditional The CPU has been unable to meet such high-precision floating-point operations, so the main computing tasks are handed over to the GPU, which is better at floating-point operations (and later developed into professional mining machines). Originally, this was a game played by a bunch of geeks, but some bankers discovered the currency characteristics of Bitcoin, so they began to use real circulating currency to buy Bitcoin, so that Bitcoin was linked to financial currency, so Bitcoin gradually began to be used. Has the properties of a currency and has a certain value (because someone is willing to buy bitcoin with dollars). To sum up, a bitcoin is one of the 21 million solutions of an equation. Someone is willing to exchange dollars or other currencies for bitcoin, then bitcoin is valuable. If no one is willing to exchange currency for bitcoin, bitcoin is worthless.

⑤ Please give a detailed introduction to what is bitcoin. Don’t use professional terms and English. Thank you

  1. Bitcoin is a string of digital codes, but it can be divided.

  2. It is usually mining, and there are also very few free ones. Now go directly to the trading website to buy.

  3. There are Bitcoin China and FXBTC in China, I have tried them all.

  4. It is all online exchange, first deposited in the wallet, and then sold.

⑥ The English abbreviation of Bitcoin

The English abbreviation of Bitcoin is BTC.
The concept of bitcoin was originally created bySatoshi Ben proposed 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 generated through a large number of calculations based on a specific algorithm. The Bitcoin economy uses a distributed database composed of many nodes in the entire P2P network to confirm and record all transaction behaviors.
This answer is provided by Kangbo Finance. Kangbo Finance focuses on the interpretation of financial hotspot events and the popularization of financial knowledge. . Hope this answer helps you.

⑦ What is Bitcoin? How to say Bitcoin cryptocurrency in English

Cryptocurrency_youdao translation
Translation result:
Encryption currency
currency
English[‘kʌr(ə)nsɪ]
American[ˈkɜrənsi]

n. currency; currency
More definitions>>

[Internet phrases]

currency currency, currency, circulation
soft currency soft currency, weak currency, soft currency
domestic currency local currency, domestic currency, domestic currency

⑧ Compared with traditional currencies, what are the advantages and disadvantages of Bitcoin

Bitcoin is an electronic money payment system built on a global network
Bitcoin is an established On the global decentralized network system, there is no central bank and third-party institutions to participate in the issuance, and the total amount of electronic currency system is fixed. Bitcoin has both payment system characteristics and currency attributes, and global network nodes maintain the Bitcoin network around the clock.

English: Bitcoin Currency symbol: English abbreviation: BTC or XBT

Introduction to bitcoin by Wiki network
Bitcoin is different from traditional currency, and the operating mechanism of bitcoin is not Relying on the support or credit guarantee of the central bank, government, and enterprises, but relying on the network agreement reached by the seed documents in the peer-to-peer network, the decentralized and self-improving currency system theoretically ensures that no one, institution, or government can It is possible to manipulate the monetary aggregate of Bitcoin, or to create inflation. Its total monetary volume gradually increases at a predetermined rate by design, and the increase gradually slows down, and finally reaches a limit of 21 million in 2140.

The introduction of Bitcoin by the network
Bitcoin is based on a set of cryptographic codes and is generated through complex algorithms. This rule is not interfered by any individual or organization, and it is decentralized; anyone can Download and run the Bitcoin client to participate in the production of Bitcoin; Bitcoin uses electronic signatures to achieve circulation, and checks for repeated consumption through the P2P distributed network. The generation and consumption of each bitcoin will be recorded and notified to the entire network through the P2P distributed network, and there is no possibility of forgery. Bitcoin is not issued by a specific currency institution, it is generated by a large amount of calculation of a specific algorithm, and the Bitcoin economy uses a distributed database composed of many nodes in the entire P2P network to confirm and record all transaction behaviors. The decentralized nature of P2P and the algorithm itself can ensure that the value of the currency cannot be artificially manipulated by mass-producing Bitcoin.

Introduction to Bitcoin by the Interactive Network
Bitcoin is an electronic currency generated by open source P2P software. Bitcoin is not issued by a specific currency institution, it is generated by a large amount of calculation of a specific algorithm, and the Bitcoin economy uses a distributed database composed of many nodes in the entire P2P network to confirm and record all transaction behaviors. The decentralized nature of P2P and the algorithm itself can ensure that the value of the currency cannot be artificially manipulated by mass-producing Bitcoin.

The difference between Bitcoin and bitcoin
It should be noted that

In English, the words Bitcoin and bitcoin represent two concepts payment network and currency unit
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Bitcoin starting with a capital B represents the Bitcoin network system or the Bitcoin network protocol, which is a payment system built on a decentralized network.

You can simply understand Bitcoin as a public accounting system built on the Internet and not manipulated by any third party. The word bitcoin, which starts with a lowercase b letter, refers to the digital currency (electronic currency, electronic cash, encrypted currency) built on the Bitcoin network, which is a payment accounting unit established in the Bitcoin payment system. We call the network system that generates bitcoin Bitcoin.

In Chinese, many places indiscriminately refer to both Bitcoin and bitcoin as Bitcoin

The main features are:
1. Decentralization

Bitcoin is the first distributed virtual currency, the entire network consists of users, and there is no central bank. Decentralization is the guarantee of Bitcoin’s security and freedom.

2. Worldwide circulation

Bitcoin can be managed on any computer connected to the Internet. No matter where you are, any� can mine, buy, sell or receive bitcoin.

3. Exclusive ownership

Manipulating Bitcoin requires a private key, which can be isolated and stored in any storage medium. No one can get it except the user himself.

4. Low transaction fees

You can send bitcoins for free, but in the end, a small transaction fee will be charged for each transaction to ensure faster execution of the transaction.

5. No hidden costs

As a means of payment from A to B, Bitcoin does not have cumbersome quotas and procedures. You can pay by knowing the bitcoin address of the other party.

6. Bitcoin is not completely anonymous
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It will take some It takes time to protect privacy when using Bitcoin. All Bitcoin transactions are publicly and permanently stored on the network, which means that anyone can view the balance and transaction history of any Bitcoin address. Unless the bitcoin holder discloses personal information during the transaction, the bitcoin address will not be linked to the real identity of the bitcoin holder. This is why Bitcoin holders are advised to use multiple Bitcoin addresses; in fact, you should create a new address each time to receive Bitcoins. This is especially important when using bitcoin in public, such as on a website. Alternatively, you might also consider using a tool like Tor to hide your IP address from being logged. Learn Bitcoin

7. Bitcoin is still experimental

Bitcoin is an experimental new currency that is in active development. Although its experimental nature is dwindling along with its growing usage, keep in mind that Bitcoin is a brand new invention exploring ideas that have never been tried before, so no one can predict The future of bitcoin.

⑨ What is Bitcoin in English

English is (Bitcoin)

Bitcoin is a decentralized, peer-to-peer network and Consensus initiative, open source, virtual cryptocurrency with blockchain as the underlying technology, proposed by Satoshi Nakamoto in 2008 and born in 2009.

Bitcoin does not have a centralized issuer, it is generated by the calculation of network nodes, can be bought and sold on any computer connected to the Internet, and has a strong scarcity.

⑩ What advantages does RCO have compared to Bitcoin?

RCO is an electronic cash system for remote payment scenarios, which is born for payment blockchain.
Compared with Bitcoin, RCO has three advantages:
1. The block capacity of RCO is 8M, and the block capacity of Bitcoin is only 1M, which effectively avoids insufficient block capacity and confirmation speed due to small block capacity. The problem of slowness;
2. RCO has advanced and more forward-looking algorithm guarantees, is not subject to large computing power attacks and controls, and has strong resistance to computing power attacks.
3. Technically, RCO makes it more secure through the original double helix chain structure.
They have it on their official website, you can check it out.

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