First of all, don't cry, fluctuating bitcoin
In this chapter, we will continue to build a model to understand one of the applications of blockchain: bitcoin, and analyze its financial attributes.
This time, we can't use love story any more. This time, we need to change a financial model.
J lends a gold bar to Q. according to the traditional practice, J and Q will make a loan note and sign a pledge. Only two people know the loan information. If the loan note disappears, it will be difficult to find a third person to confirm it. But in the decentralized model, J and Q shout in the blockchain Hall: I am j, I lend q a gold bar. Q also replied: I am Q, I owe j a gold bar.
People who eat melon on the Internet have all approved of this matter by stamping it with time stamps, so there will be such a record on the Internet. J lent q a gold bar, and the number of this passage is 001._DJMINER
In this model, the gold bar can be replaced with anything virtual. If you broadcast to the whole network that I lent q a BTC (bitcoin), Q also replied: I owe j a BTC. Then the fact of loan is established. In fact, you don't need to know what BTC is, or what it looks like. Even if you can name it as you like, as long as this currency is recorded in the distributed ledger and accepted by everyone, it is really created by you and can participate in the process of production, distribution and exchange.
The coin you created is a value symbol, but it is only useful when it is recognized. The main reason why the ICO of many junk coins collapses as soon as it is over is that it is not recognized by everyone and cannot be circulated, so it becomes a tool for others to cut leeks._DJMINER
Technology is innocent, and greed is always guilty.
In this model, you may find that bitcoin is so easy to create, but in fact, BTC technology is far more complex. It involves many algorithms, frameworks, and computer languages, which is also an unparalleled advantage of junk coin. To facilitate understanding, we simplify its creation process.
So suppose that BTC has been accepted by most people and has been circulated in the system. If someone forges the bitcoin code, it's like forgery of RMB. At this time, great people are needed. Remember the timestamps and distributed ledgers mentioned in the last issue?
In order to prevent this, when creating BTC, the number of bitcoin is locked at 21 million units, and a time stamp is stamped on every BTC transaction
More professional, the content of jargon can be: the number of this sentence is 002, the number of the last sentence is 001, the content is, I dug out a block of BTC.
Every blockchain can be traced down the whole process, which solves the problem of forgery.
But just because not all people recognize the financial nature of bitcoin, the value of bitcoin also drops along with the market, but even so, since the birth of bitcoin, the highest increase is 20000 times, for the highest value-added speculative goods in history.
Now do you know the relationship between bitcoin and blockchain?
We can say that the relationship between blockchain and bitcoin is just like that between Internet and website. Bitcoin is an application based on blockchain technology, just like Baidu and Google can exist in websites, but it is all based on the underlying architecture of internet protocol, so is bitcoin._DJMINER
This time, we can't use love story any more. This time, we need to change a financial model.
J lends a gold bar to Q. according to the traditional practice, J and Q will make a loan note and sign a pledge. Only two people know the loan information. If the loan note disappears, it will be difficult to find a third person to confirm it. But in the decentralized model, J and Q shout in the blockchain Hall: I am j, I lend q a gold bar. Q also replied: I am Q, I owe j a gold bar.
People who eat melon on the Internet have all approved of this matter by stamping it with time stamps, so there will be such a record on the Internet. J lent q a gold bar, and the number of this passage is 001._DJMINER
In this model, the gold bar can be replaced with anything virtual. If you broadcast to the whole network that I lent q a BTC (bitcoin), Q also replied: I owe j a BTC. Then the fact of loan is established. In fact, you don't need to know what BTC is, or what it looks like. Even if you can name it as you like, as long as this currency is recorded in the distributed ledger and accepted by everyone, it is really created by you and can participate in the process of production, distribution and exchange.
The coin you created is a value symbol, but it is only useful when it is recognized. The main reason why the ICO of many junk coins collapses as soon as it is over is that it is not recognized by everyone and cannot be circulated, so it becomes a tool for others to cut leeks._DJMINER
Technology is innocent, and greed is always guilty.
In this model, you may find that bitcoin is so easy to create, but in fact, BTC technology is far more complex. It involves many algorithms, frameworks, and computer languages, which is also an unparalleled advantage of junk coin. To facilitate understanding, we simplify its creation process.
So suppose that BTC has been accepted by most people and has been circulated in the system. If someone forges the bitcoin code, it's like forgery of RMB. At this time, great people are needed. Remember the timestamps and distributed ledgers mentioned in the last issue?
In order to prevent this, when creating BTC, the number of bitcoin is locked at 21 million units, and a time stamp is stamped on every BTC transaction
More professional, the content of jargon can be: the number of this sentence is 002, the number of the last sentence is 001, the content is, I dug out a block of BTC.
Every blockchain can be traced down the whole process, which solves the problem of forgery.
But just because not all people recognize the financial nature of bitcoin, the value of bitcoin also drops along with the market, but even so, since the birth of bitcoin, the highest increase is 20000 times, for the highest value-added speculative goods in history.
Now do you know the relationship between bitcoin and blockchain?
We can say that the relationship between blockchain and bitcoin is just like that between Internet and website. Bitcoin is an application based on blockchain technology, just like Baidu and Google can exist in websites, but it is all based on the underlying architecture of internet protocol, so is bitcoin._DJMINER
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