After four years of quietly circulating in the highly skilled "geek" circle, a currency called "bitcoin" began to enter the public's life. However, compared with the visible and tangible notes, it is very mysterious: it exists in the form of computer data only in the network. In some areas, it can even directly replace the currency, and can buy coffee and consume it on the Internet. . It has even become an investment product, and the price has skyrocketed. At the lowest point, it is only 1 cent, but at the peak, someone spends more than 200 dollars to buy.
What is Bitcoin? Why can it be used as "money"? What causes its price to rise and fall like a roller coaster?
origin
Encrypted data developed by a hacker
Yesterday afternoon, Tian Jia was waiting for his "bitcoin mining machine" to arrive. "This one is very powerful. If you still use the old machine to mine, you can dig a bitcoin in 100 days; but with this machine it is expected to dig up to 3.5 in one day."
This "geek" graduated from the Department of Computer Science at Tsinghua University and is a veteran of Bitcoin. The "old machine" in his mouth is a computer that he spent 10,000 yuan in Zhongguancun in 2011, and his first "mine machine". It was in that year that Tian Jia first heard about the concept of Bitcoin.
"At the time there was a report called "The Most Dangerous Currency in History."" This seemingly alarmist topic did not hinder Tian Jia's interest in Bitcoin, and he began to trace the source.
On January 3, 2009, a hacker named "Zhong Ben Cong" released the first version of the open source Bitcoin client on the Internet. Bitcoin was born. But this newborn, from the moment of birth, faces the questioning face: What kind of computer data can be circulated, or even called currency? How does this virtual currency, not issued by the central bank, guarantee security? How to avoid overshoot and spamming?
"If these problems are analyzed from a purely technical point of view, it may be said that the last day can't be finished. The mystery of Bitcoin lies in its operating system." Tian Jia said that this cryptographic-based system first gave Bitcoin circulation. The cap, that is, the maximum number of only 21 million, thus put an end to the risk of inflation caused by currency overshoot; it also ensures that every bitcoin is not forged and copied, and can trace the whereabouts of each bitcoin so that it is not Used to pay repeatedly.
Mining
Excavated 100 bitcoins in 3 months
To get Bitcoin, you need to use a computer to perform a lot of calculations to get Bitcoin according to the prescribed algorithm. This process is what Tian Jia said as “miningâ€.
In "mining", the computer searches for 64-bit numbers, decrypts it repeatedly, and competes with other miners to provide the data needed for the Bitcoin network. If the user's computer successfully creates a set of numbers, then a bitcoin reward will be awarded.
Because the number of operations is too large, the average computer can not meet the needs of "mining". Therefore, in July 2011, Tian Jia spent 10,000 yuan to equip a computer with four high-performance graphics cards, making it a "mine machine." "4 Zhang Xian (microblogging) cards are all AMD's flagship graphics card 5870 at that time, the heat is also high, starting 24 hours a day 'mining', sitting in the house quickly sweating."
However, the harvest of mining has caused Tian Jia to ignore the heat of the summer. "In the beginning, one day can dig two or three bitcoins, one can be more than 30 dollars!"
So "mining" lasted for 3 months, and Tian Jia won 100 bitcoins. But in October 2011, he ended his "miner" career, sold the "mine machine" and sealed the 100 bitcoins he had dug into his account.
“It’s getting harder and harder to dig. The number of bitcoins that have been dug has dropped sharply. Sometimes there aren’t ones in a few days.†Tian Jia said that the number of bitcoins is limited, but the “geeks†involved in mining More and more, the use of "mine mining machines" is more and more advanced, and more porridge.
Another more important reason is that Bitcoin has experienced an external blow.
On June 19, 2011, Mt.Gox, the world's largest bitcoin trading center, was attacked by hackers and sold the bitcoin stolen. As a result, the price of bitcoin once fell to 1 cent.
Almost at the same time, another group of "miners" Li Jie and his colleagues in the Internet software company also sold their own "mine machine" and temporarily sealed up thousands of bitcoins dug up. In the more than a year since then, the price of Bitcoin has never exceeded $15, and it has become somewhat "quiet."
Crazy
Bitcoin has risen 5 times in 1 month
No one has thought that the European island nation of Cyprus, with a population of only 1.1 million, will become the fuse of Bitcoin's renewed madness.
On March 16, 2013, in order to obtain further assistance from the European Union, Cyprus proposed to raise a bill of 5.8 billion euros by taxing each bank deposit account. As soon as the news came out, Cypriots flocked to the bank to run. At the same time, some people are beginning to be interested in bitcoin, a virtual currency that is not controlled by the central government and operates on a global Internet system. A company plans to open a "bitcoin ATM machine" in Cyprus and received numerous orders in just a few days.
This enthusiasm was quickly amplified through the Internet, and Bitcoin is no longer just a toy for “geeksâ€, attracting real speculators and speculators.
On March 16, the price of Bitcoin was $47. On April 9th, the price of a bitcoin broke through 200 dollars and reached a high of 266 dollars. What is even more exciting is that the price of Bitcoin has once again plummeted to around $54.
"The previous period of international gold prices fell, we joked that this is a 'plunge', bitcoin is, get up every day to look at it, the account will increase or decrease tens of thousands of dollars, like a roller coaster." Li Jie said, in this rise In the tide of falling, I also sold some bitcoins. "Although it was not sold at the highest point, it was a big profit compared to the cost of 'mining' at the time."
Outlook
Garage coffee receives bitcoin
In addition to being invested or speculative, Bitcoin began to redeem with physical goods. More generally, it can be used as "money" in certain areas.
The garage coffee located near Haidian Book City attracts a large number of computer “geeks†and Internet entrepreneurs with a strong entrepreneurial atmosphere. Just in March of this year, American student Jack used 0.012 bitcoin here to buy a cup of coffee. Although the amount of the transaction is not high, it is the first bitcoin business made up of garage coffee.
"At the time we had a bunch of 'geek' friends who knew the properties of Bitcoin very well, so I agreed to checkout with Bitcoin." Su Shi, founder of Garage Coffee, said that accepting Bitcoin purchases was due to "fun". In addition, more than a dozen merchants on Taobao have indicated that they can accept bitcoin shopping.
Compared with the domestic market, Bitcoin is only a bit of a taste. The foreign market has already produced a series of related industries around Bitcoin, such as Bitcoin exchanges, companies listed on Bitcoin, Bitcoin information websites, and third-party payment websites.
In the United States, Bitcoin has begun to be used in daily life. BitPay, a startup that provided payment solutions for Bitcoin in October 2012, reported that more than 1,000 merchants have accepted Bitcoin payments through their payment systems.
As of the end of March this year, the total issued bitcoin was converted into US dollars at market price, and the total value exceeded $1 billion. This virtual currency, which is the first in the world, is the "necessary of the virtual world" in the mind of "geeks", or it is still in the speculation of speculators. It is time to give an answer.
Reporter's notes
Open the company to play this, crazy?
In order to dig into Bitcoin, the "miners" drove the "mine machine" all day long and sweated. This situation is reminiscent of the gold rush. Only the gold digger shakes the sieve, leaving the gold sand; the "miners" consume the electricity bill and get a set of computer data.
“In the past few years, because of the global liquidity, central banks have been doing quantitative easing, causing some concerns.†But Zhao Qingming, a senior economist at China Construction Bank, is still not optimistic about the future of Bitcoin: “I think it is very likely that it will be a short-lived At present, it has become a speculative target, and on the other hand it lacks financial system support."
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