2009 Exciting Bitcoin Was Born

As we all know, investing in stocks is risky. Anything that exists virtually on the internet is unstable. Although most people come to the stock market with the idea of making a lot of money, it turns out that only a few are lucky. The emergence of Bitcoin, a virtual currency, has attracted more people. It have created a new trend in the financial market.

Bitcoin

The global economy fell to new lows in the wake of the stock financial crisis. It was born on January 3, 2009, bringing a different spark to the sluggish economy at the time. It was the first virtual digital currency to appear in history.

Bitcoin

pixabay:bitcoin

Virtual Digital Currency

It is different from our usual paper money. It is not restricted by the country, as long as the country where the transaction party is located accepts electronic money, then it can be traded normally. Compared to the currencies we are familiar with, it does not yet have a corresponding issuer. It is made up of codes that generate 0 and 1 through constant computation by a networked computer. It can be owned by anyone.

Virtual Digital Currency 

pixabay:Virtual Digital Currency

Mining

Satoshi Nakamoto, the founder of Bitcoin, has made it clear that it can only be obtained by “mining”. In the concept of “mining”, it is the “mine” that is mined in it, and it is not the miners in real life who carry out the “mining” operation, but the virtual miners who have computing power that is different from that of ordinary people in the online world. The underlying technology of “mining” is “blockchain”, and its advantages are obtained through layers of encrypted data and decentralization.

Aladdin miner

Aladdin miner

Blockchain Technology

Blockchain is an advanced database repository mechanism. It is a peer-to-peer network system that uses technology, such as cryptography and consensus mechanisms to build and store a large chain of blocks of transaction information. It use blockchain bookkeeping technology. It satisfies the confidentiality of the transactions between the two parties and also gives sufficient security to both parties.

▼How Blockchain Works

How Blockchain Works

The Value of Bitcoin

When it first came to market, it had a relatively low value. The value of a bitcoin was only about one-quarter of a dollar. As time progressed and several factors came into play, the price of bitcoin rose. At that time, one bitcoin was already worth $30,000. In November-October 2021, Bitcoin was worth as much as $680,000.

The emergence of Bitcoin has increased the wealth of many people a lot. However, its decline has also left many people trembling. There are risks in speculating in stocks, and speculating in Bitcoin is also risky. Everything must be handled rationally.

This content information comes from finance.sina.cn

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