The mystery bitcoin

Bitcoin quite prairie fire, fire all over the major portal sites and forums. In China, the boss of electronic money is supposed to be Q coins, but bitcoin seems to be able to feast on penguins these days. The sudden rise of bitcoin is accompanied by a layer of gorgeous halo, what "and gold in essence no difference", what "free internet destruction evil Central bank financial maggots", what "just a card can get rich n card Cry", on the poor did not put "Bitcoin generations unified world Datong" to call out. Bitcoin has attracted a lot of unknown truth of the crowd, there is manpower, but also some cold water. Where the hell is bitcoin? Let's discuss it together.

A bitcoin known as "electronic Gold"

What is Bitcoin?

As has been mentioned before, Bitcoin is an electronic currency. Bitcoin exists in the virtual Internet and occasionally in the form of an entity currency. However, bitcoin and we often contact the Q currency, Game point card class of electronic money is not the same thing-except for the same as electronic money, you can hardly find the other points of Q and bitcoin. Some people will ask, the electronic money is not a bunch of code stored in the server, what can be different. Let's keep looking.

What's the difference between bitcoin and Q-coins?

Bitcoin and Q coins, game point card The biggest difference is that bitcoin based on Peer-to-peer technology, only controlled by an open source algorithm, there is no control of bitcoin central institutions. Maybe someone doesn't quite understand what that means. But think about how people usually use BT or electric mule download a small movie is clear-resources stored in every Peer-to-peer user's computer, from the John to suck some blood from the dick that cut some meat, a complete film on the end. As to what can be down to what, completely depends on your seed and ed2k link, import the seeds of the complete collection of Gourd doll you will not be under the next to a pale teacher.

Bitcoin based Peer-to-peer Technology

If you're going to rely on a central server, that's different. Have you seen the live webcast? You have no idea what will happen in the next second, because the content is provided by the central server you are connected to, and downloading resources from a central server can do similar things.

Bitcoin is similar to BT and Mule, except that the seed in the BT network becomes a bitcoin algorithm in the Bitcoin network, and the algorithm is unique and open source. The amount of bitcoin depends entirely on the algorithm of the Bitcoin, if you are a bitcoin user, do not have to worry about Bitcoin today is rare like the Giant Panda, tomorrow will become a flood of rat-this is also the difference between bitcoin and Q coins in essence, horse boss Q coins to how much can be hair how much, But no one can control the size of the Bitcoin on its own.

Bitcoin and q coins are very different in nature.

This feature of Bitcoin is also the most relish of Bitcoin's fans, and sees it as the Internet's ability to defeat traditional financial mechanisms-the number of Bitcoin depends only on the algorithm of the bitcoin itself, and no financial institution can control the number of Bitcoin. Human beings want to get rid of the evil bankers, the financial industry parasites control, it seems that the "free money" in the name of a bitcoin to be the savior?

Where does the bitcoin come from?

As we mentioned earlier, Bitcoin relies on peer-to-peer networks, and Bitcoin can only be generated from certain algorithms. If you want to get bitcoin, in addition to trading, you can calculate a bit of money out of thin air-the computational process is called "digging". Later you heard someone say, I was digging mine, do not think that people just squat coal pit every day, that person is very likely to have a pile of ultra-high configuration of computers, the tyrants of their own mining pool.

You think he's digging coal, but they might have it at home.

Bitcoin has a platform-enabled client, and people were the first to dig through Intel and AMD's CPUs, but then they gradually switched to devices such as GPU and FPGA, because the speed was so much faster. A card is the best mining equipment, especially the 5 Series a card, because of the use of 5D architecture, so and with the positioning of the N card, a top five pieces, also than using 4D Architecture 6 Series, 7 Series A card faster. Since the use of a card, mother no longer have to worry that I can not dig mine.

A card is especially suitable for digging mine

By running the bit-currency algorithm, the computer generates a specific number of digits and then gets 25 Bitcoin. Bitcoin's algorithm determines that the unit operation time can only produce a fixed number of Bitcoin, the current speed of 10 minutes to produce 25 Bitcoin. This speed has nothing to do with the total performance of the machine participating in the bitcoin operation, but the powerful machine in the Bitcoin network can dig more mines--the new bitcoin is so little, and whoever has the most powerful machine can rob more. Want to get a steady stream of Bitcoin? Move IBM's supercomputer to dig mine.

Now the miners ' situation is similar to this one, and whoever is strong can get the Bitcoin.

Note that in order for the bitcoin to produce a roughly uniform speed, the difficulty of producing a new Bitcoin is automatically adjusted periodically-this adjustment is also determined by the bitcoin algorithm. If the speed at which Bitcoin is produced increases the difficulty of digging, and if Bitcoin slows down, it reduces the difficulty. According to bitcoin's algorithm, once no one digs the mine, Bitcoin's trading will be impossible to deal with, and bitcoin's economy will stop.

Can bitcoin be issued indefinitely?

As mentioned above, Bitcoin can be created out of thin air by digging holes, so can bitcoin be created? The answer is no, the bitcoin has a constant final number, which is also determined by the bitcoin algorithm.

According to the bitcoin algorithm, in the first four years there will be 10.5 million Bitcoin produced, this value halved every four years, the amount of the final bitcoin will be nearly 21 million. According to projections, the total amount of Bitcoin will be maintained at 2,099,999,9.9,769 in 2140, no new bitcoin is produced.

The total trend of the Bitcoin, similar to the logarithmic function

I have to say that in a constant amount of this, Bitcoin and gold are very similar. Bitcoin's people even think that, since the gold standard can emerge, the Bitcoin standard is reasonable. This characteristic of the limited number of bitcoin is the root of the recent speculation and substantial appreciation of Bitcoin.

How do I use Bitcoin?

The flow of Bitcoin can be done through the Bitcoin client network, with each Bitcoin user having an address of approximately 33 bits, consisting of letters and numbers, such as "16q5yqytf6czedal1ik7fp7tjxufwa43qv". Bitcoin has a lot of addresses, more than 2^160. According to the Wikipedia analogy, the world has about 2^63 grains of sand, if there is a Earth in each grain of sand, then the total number of Bitcoin address is far more than all these "Earth" on the number of all the sand.

This is a Bitcoin client, and you can see the address of the bit currency.

The Bitcoin client can generate an address automatically, which does not require networking to complete. After the address is generated, the user can make the transfer and other operations. If you want to use a bit currency for an address, you must enter the key to open it. Since bitcoin is a peer-to-peer network, the transfer between Bitcoin users is not dependent on the central server, as long as your computer can be networked, installed Bitcoin client, you can normally use Bitcoin. Peer-to-peer is to the central technology, even if the Thunder offline server hangs, your BT task can still be carried out.

Can bitcoin buy something? Can you change it into another currency?

Q coins can buy QQ show, game coins can buy equipment punch point card, Bitcoin Nature also has the payment function, otherwise the word with a "coin" word, waste ink. At present, Bitcoin can be transferred in a small range, some businesses and businesses accept Bitcoin, although you probably will not go to them for a lifetime to buy things. In addition, some websites also accept bitcoin donations, such as the famous blog service WordPress, as well as WikiLeaks. It is worth mentioning that Bitcoin appears to be the fuel for black-market trading in recent years, thanks to some of the characteristics of Bitcoin, as we will mention below.

WordPress accepts bitcoin donation

Bitcoin can be exchanged for other currencies in some exchanges, and the world's largest bitcoin exchange is now Mt.Gox. Through the exchange, you can change Bitcoin into currencies such as dollars, and you can buy Bitcoin in other currencies. If you want to fry bitcoin to make money, you can't avoid the bitcoin exchange.