In addition to eating chicken, the hottest estimate for 2017 is bitcoin, starting with a little-known virtual currency in 2009, after years of bitcoin development, it gained so much attention that prices have gone from nothing at that year In December 2017 the highest intraday record of 19783 US dollars (about 124,271 yuan).
Bitcoin naturally attracted a lot of investors, including IT practitioners who are familiar with the blockchain technology and amateur players who have simply pursued their appreciation for the past few months. However, in the past two months, the price of bitcoin collapsed and dropped To less than 6,400 US dollars, so a lot of holding money cool heart a lot.
Bitcoin fell more than 60% in the past two months
Has always been said to have high reliability of the virtual currency now ride the roller coaster, the price of rapid fluctuations also filled the hearts of many miners, but if the bitcoin collapse means that the bankruptcy of the blockchain is too early, This magical network may show its talents in the future.
Investment virtual currency is to give money?
In fact, the price of bitcoin diving is not the big girl sitting in a sedan chair - the first time, even 60% is not the largest decline in. June 19, 2011, Mt.Gox bitcoin trading center security holes lead to 1 bitcoin price Once fell to 1 cent. In the spring of 2013, bitcoin also plunged 76%. Bitcoin was stolen in Bitfinex in September 2016, causing the currency to plunge 20% in as little as 5 hours.
The volatility of the currency is actually inseparable from the characteristics of bitcoin. Here we briefly introduce bitcoin as a decentralized and non-universally electronically-repayable currency that can be globally payable by controlling circulation slightly below 21 million to ensure that there will be no inflation.
Decentralizing bitcoin for better security (images from linkedln)
Bitcoin is more secure because of its decentralization, but because Bitcoin is not country-issued, does not have the force of purchasing power and binding, and unlike hard currency, like gold and silver, even if it is called Currency, its currency is not guaranteed.
As the output of bitcoin declines gradually, many bitcoin-like virtual currencies have emerged, but many kinds of virtual currency prices, including bitcoin, can be manipulated and easily interfered with on the one hand Making the virtual currency can not be preserved, on the other hand continue to increase the currency is also affecting the entire market, so Investing in virtual currency is not a wise move.
Bitcoin Crash, Blockchain why sit tight
Many of my friends saw the price of bitcoin fall sharply, they would think that the blockchain went bankrupt. This kind of understanding of the blockchain equivalent to the virtual currency is also one-sided.
Blockchain is a distributed database (images from pixabay)
A block chain is an intelligent peer-to-peer network that uses distributed databases to identify, disseminate and record information. In other words, it records all actions on each client's network, regardless of whether you are involved or not. Blockchain is also known as 'value internet'.
Transaction records saved in many clients can not be tampered with (Images from Wikipedia)
It's easy to see that one of the big advantages of blockchain lies in the fact that since all transactions are recorded and spread across many clients, the transaction's history and data can not be tampered with.
Blockchain technology was born with the advent of bitcoin, so many people confuse the two. In fact, most of the current virtual currency are based on blockchain technology, and the application of blockchain does not stop there. Take a step back Say, even if all the virtual currency has collapsed, the blockchain is still promising.
Three applications how to bring unlimited possibilities
With the advantage of blockchain, we can foresee many uses in the future development.Currently known blockchain technology can mainly be used in three aspects.
Open Blockchain: The best-known application is bitcoin, which is accessible to all users of the Open Blockchain and also to data and is a complete distributed blockchain for financial transactions, shared economy and cloud storage There will be a lot of room for development, a big advantage is that the audience wide, the use of lower costs.
Collaborative blockchain: It can be considered as a blockchain running on a local area network. Only a limited number of users can access and write data. However, the advantages of a blockchain can also be applied to banks, supply chains and the Internet of Things. Low cost, high efficiency and data security.
Private blockchain: roughly equivalent to the limited use of blockchain, only certain users can access and write data to a limited extent, although the use of space is more narrow, but also in a more private environment.
In fact, the application of the block chain is much more than the above. With the development of technology and the improvement of products, more industries will apply blockchain technology in the future. This magical network may also change our life.
Hot concept, cheat you easily
Finally, let us analyze the recent trends in blockchain and bitcoin, and give some suggestions to friends who are concerned about the virtual currency such as bitcoin.
We said earlier that the currency of Bitcoin is not guaranteed, not that bitcoin will surely collapse in the future.Virtual currencies such as bitcoin fluctuate greatly in price, and investing in bitcoin can make money quickly or at a substantial loss Fluctuations are not acceptable to the average user, so do not recommend ordinary people to invest.
Encrypted currency other than Bitcoin, also known as the cottage currency, competitive currency, is relatively less stable.In addition, There are many disguised MLM and investment linked to the 'virtual currency' name, in essence, speculation concept to get money, Be sure to arouse investor vigilance.
Although the blockchain can ensure that data and records are not tampered with, it does not mean that users can sit back and relax. If your virtual currency wallet address and password are compromised, the same can result in property damage and can not be recovered, which is also the initial entry of virtual currency The user's easy access to the errors.
If you are involved in the virtual currency, be sure to keep your private key and other information properly, do not save the password file in a stolen mailbox, and need to be kept in paper form to further enhance the security. As soon as possible after the purchase of virtual currency Wallet to avoid property damage caused by the exchange.
