At this stage, the price of bitcoin makes many people play for factors, and the influence of big people on bitcoin is relatively high. It is known that bitcoin comes from what is called "mining coins, that is, the application of computer arithmetic according to the complicated and special calculation method to add lock to the virtual data currency." But do you really understand what bitcoin is? What exactly does it do? What is the essence of it? Today, I'm going to San Tin explain it to you in the most understandable way possible.

I. What is Bitcoin?

The definition of Bitcoin was first clearly proposed on November 1, 2008, and this definition was completed in just three months, with the first Bitcoin being introduced on January 3, 2009.

Unlike the cryptocurrency that people use, bitcoins are not organized, there is no physical line of credit, and they can be produced based on the computing power of a computer, making it appear that everyone can have bitcoins if they have a computer. But that's not really the case, everyone else can participate in the production of these globally circulating bitcoins, but it's strictly controlled at 21 million in total. At this stage there are about 3 million bitcoins left to be mined.

The mining rate is getting slower and slower due to the limitations of its specified optimization algorithm. While the most primitive bitcoin mining rate is 50 per 10min, when the total number reaches half the number, that is, when the total number reaches 10.5 million,bitmain s19 pro price the mining rate drops to 25 per 10min, and when the total number reaches 15.75 million, the mining rate drops to 12.5 per 10min, which successively deduces that the last bitcoin is predicted to be mined in 2140.

Now we know what bitcoin really is, it is actually a set of data information that is locked by the corresponding calculation method. Let's learn more about the efficacy of bitcoin.

Second, what is the efficacy of Bitcoin?

In short, bitcoin is actually a virtual-like currency that can be used as a virtual reality gold circulating on the internet in a limited amount, but with a very high value of use. You need to use it to buy things, naturally, and can also be exchanged for real money in various countries. It works like the balance in your cell phone's WeChat or Alipay wallet, except that Bitcoin is more widely accepted in the world, and vaguely speaking, it is a virtual currency that is accepted in most of the countries in the world.

The confidentiality and uniqueness of Bitcoin, the wide range of virtual currencies in circulation, and the ability to be mined by individuals based on computer calculations, the difficulty of obtaining it in the early stages is not too high, and the lack of reasonable control at this stage has made it the most popular currency for many criminals.

With the growing popularity of bitcoin and the increasing value of its use, many websites facing high-tech customers and some of their financial institutions in China are now gradually accepting bitcoin trading, and can even exchange it directly for cash money. So to speak, bitcoin has become an international currency that is declared to be in circulation.

The company's main business is to provide a wide range of products and services, including: 1. It is only a set of data information that can be stored anywhere, on a computer, a cell phone, or even a USB flash drive, and cannot be operated by anyone other than yourself.

Third, what is the essence of bitcoin?

The essence of bitcoin is a kind of virtual currency that is highly secure and can be circulated freely. It is like a simulated gold, although its price is unstable, but in general, its role is to buy and sell, and the meaning of buying and selling is to get more is rights. The use of bitcoin is freer, more secret, safer, and completely free of all taxes, a feature that grants it higher added value, but in the end, it is just a piece of data encrypted data information. And data information is just data information, and Bitcoin is no different than any data information.

While the general public can participate in the Bitcoin wave under their own responsibility, I would suggest that we all remain as sensible as possible. What if, in the future, more advanced computers are able to decipher bitcoins or apply more intricate optimization algorithms to produce a new, more arbitrary, highly liquid, easily controllable and globally accessible currency? How will Bitcoin choose then? What do you think about this?