Bitcoin 8 birthday, currency price has exceeded $5000

Bitcoin 8 birthday, currency price has exceeded $5000

Today is the cryptography currency bitcoin 8 birthday. Beijing time on November 1, 2008, claiming the Cong (SatoshiNakamoto) the mysterious figure released a white paper in cryptography bitcoin mailing list.

At that time, behind some of the first reading of the paper will bitcoin technical interest, but few people seem to expect that it will be true.

When bitcoin officially launched in 2009, in the field of digital currency is one of the most successful story slowly opened. Nakamoto So open source bitcoin, anyone can use or update it, even fork it. First of all, the early adopters of bitcoin from the cryptographic community, such as Hal Finney (HalFinney), he is the first recipient of bitcoin transactions.

In addition, the cryptographer Nick Saab (NickSzabo) and David (WeiDai), they are early adopters of bitcoin, bitcoin Saab released in the white paper before has been in the development of “bitgold” project, and David is the creator of b-money.

Bitcoin gradually developed, more and more people began to accept this money, everything about it and try something from fork code to copycat their own currency, or research related to mining technology.

You can read the full bitcoin paper here.

Bitcoin white paper

“[Abstract]: This paper presents a complete electronic cash system through the point to point technology, it makes the online payment can be directly initiated by one party and paid to the other party, does not need any of the financial institutions. Although digital signature (Digitalsignatures) partially solved this problem, but if you still need the support of third parties in order to prevent double payment (double-spending) words, then the system will lose the value of existence. We (we) proposed a solution to the cash system in peer-to-peer environment, and to prevent double payment problems. The network through random hash (hashing) of all transactions with the time stamp (timestamps), merge them into a continuous extension based on random hash workload (proof-of-work) chain as a record of the transaction, unless it is proved all the work, the formation of the transaction will not be changed. The longest chain will not only be observed as the sequence of events (sequence) proof, and is regarded as the largest pool of computing power from CPU (pool). As long as most of the computing ability of CPU did not intend to cooperate together to attack the whole network, then the node will generate the most honest long, more than the attacker’s chain. Infrastructure need this system itself is very small. Best information in the whole network communication node (nodes) can, can leave and re join the network, and the long chain of proof as proof of work during the node offline transactions.”

Bitcoin has come a long way in eight years.

For different people, bitcoin has a significance difference.

Some people think that it is a good store of value, the market value has reached $11 billion 100 million.

Some people think that it is a trading system, it makes it possible to buy with minimal friction and the sale of goods or services.

Or, the other person will bitcoin the underlying technology and block chain technology as the real value, then apply them to the data storage and improve the bank transfer and other purposes.

There are a lot of people think that the value of bitcoin storage is good, it is a kind of trading system, and even more.

Bitcoin is anti censorship

In countries where monetary instability, people use bitcoin to transfer their money and protect their wealth.

In addition, the anti censorship characteristics of bitcoin, the vulnerable groups, or in government oppression of people, can let their voices be heard to.

Since the proposed Nakamoto bitcoin white paper, since the founding and create blocks, bitcoin has come a long way.

Bitcoin network composed of miners and mine pool, has become one of the world’s most powerful network.

The number of nodes of the bitcoin network hovered in the 5000-6000 range, which includes several different versions of the software of the node, and the main bitcoin client Bitcoincore, currently has about 84% of the nodes.

Today, bitcoin prices exceeded 5000 yuan mark, Happy birthday, bitcoin!

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