Bitcoin transactions

The design of Bitcoin is rooted in mathematical certainty: the supply is strictly limited to 21 million, the inflation rate is predictable, and some mechanisms are built in the network, such as the mining difficulty adjustment mechanism, which is used to manage new The speed at which Bitcoin enters the ecosystem (Note: Bitcoin's built-in mining difficulty adjustment mechanism will automatically adjust the mining difficulty according to the computing power of the Bitcoin network, so as to ensBitcoin transactionsure that a Bitcoin block is mined every 10 minutes) .

In the old days before 2013, Bitcoin was still unknown. At that time, computers could still mine, and a small group of players could also follow Shenyu’s online tutorials as the first batch of bitcoin miners. Most people didn’t care about this handy electronic currency, they were just distressed: How the coins were sold, who they were selling to, and sporadic reports in the newspapers attracted several new fans. Bitcoin players at the time were still at the stage of trading on Taobao and QQ groups, while overseas, Bitcoin exchanges such as Mt.Gox Has quietly appeared. A Bitcoin exchange is needed, and the person who seized this opportunity was Yang Linke, a Wenzhou businessman who operated sauna equipment. He founded the first Bitcoin exchange-Bitcoin. Recharge requires online banking and transfers to two personal accounts. . Their holders are Yang Linke's wife and mother-in-law. The emergence of exchanges has greatly facilitated the circulation and realization of Bitcoin, laying the foundation for exponential growth in the future.

Saifedean Ammous, the author of "Bitcoin Standard", once said that the establishment of a sound currency system will be one of the greatest achievements of mankind. Once the currency system collapses, human civilization will also be destroyed. When Satoshi Nakamoto created Bitcoin, he hoped to create a freely flowing and unregulated currency around the world, using the Internet to perform traditional currency functions, and to solve the ancient topic of "transferring value across time and space".

The Bitcoin community has very mixed emotions about Tether. On the one hand, this substitute for legal currency can be used as a tool to support prices. But if the supply line is cut off, the cryptocurrency market will have a great hunger for new money. At the same time, Bitfinex, as the company that controls Tether, is in charge of the issuance of this dollar pegged token. Other exchanges such as Kraken and Bittrex are also relying on this token. Tether affects everyone, how did this happen.

The traditional swift system charges fees based on the total amount. And the process is very slow. Bitcoin is fast and only takes an hour. And the miners don't care about the payment. No matter how much money is involved, Bitcoin workers do not care about payment related issues. They are only responsible for packaging the trading instructions. And they can't see the content of the transaction. So this decoupling creates tremendous value.

BitPay Chief Commercial Officer Sonny Singh (Sonny Singh) remains optimistic. He pointed out in an e-mail to Bloomberg that there has beenBitcoin transactions a significant increase in crypto companies paying suppliers with bitcoin. This includes law firms, hosting companies, accounting firms, landlords and software vendors.

The white paper said: The Venezuelan government is committed to promoting the use of petro in the domestic market and working hard to promote it to the world. The state will actively undertake the commitment to promote the adoption of petrocoins in the market and promote the growth of the number of domestic and foreign users. In addition, the white paper also pointed out that the Venezuelan National Petroleum Corporation and other public and joint ventures, national public entities and local governments jointly promote the adoption of petrocoins in the market. On Tuesday, the cryptocurrency regulator announced that the Venezuelan National Petroleum Corporation will use petrocoins in its business cooperation.