Bitcoin game player should bitcoin characteristics to understand the advantages and disadvantages

Bitcoin game player should bitcoin characteristics to understand the advantages and disadvantages

Bitcoin with its unique charm to attract the attention of the world, more and more people involved. Many experts and scholars bitcoin conducted in-depth research, hoping to explore the charming nature of this digital currency.

The characteristics of bitcoin

Characteristics of bitcoin: to the center

Bitcoin is a virtual currency first distributed, the whole network by the user, not the central bank. To the center of the bitcoin is safe and free guarantee.

Characteristics of bitcoin two: worldwide circulation

Bitcoin can be in any one Internet computer management. No matter where you are, anyone can buy, sell or collect, mining bitcoin.

Characteristics of bitcoin three: exclusive ownership

Need to manipulate bitcoin private key, it can be stored in isolation in any storage medium. In addition to their outside users no access.

– bitcoin four features: low transaction costs

Free remittance of bitcoin, but in the end of each transaction will charge about 0.0001 bitcoin transaction fees to ensure that transactions execute faster.

Characteristics of bitcoin five: no hidden costs

From A to B as a means of payment, bitcoin no cumbersome procedures and limit the amount of. Know each other bitcoin address can be paid.

– bitcoin six characteristics: cross platform mining

The user can explore the computing ability of hardware in many different platforms.

The advantages of bitcoin

One of the advantages of bitcoin –:

The line is simple: transactions through the network transaction bitcoin is very simple, no need to trust a man in the middle.

The advantages of the two – bitcoin:

Has completed the transaction can not be withdrawn: execute transactions can not be revoked or recovered.

The advantages of the three – bitcoin:

Safety and stability: no central bank and part of the reserve system brings instability. The bitcoin system of money supply distribution (determined by CPU capacity), spread throughout the entire network, thus limiting the monopoly by the bank according to the inflation.

Bitcoin disadvantage

The disadvantage of a bitcoin -:

The vulnerability of the trading platform. The bitcoin network is very strong, but bitcoin trading platform is very fragile. The trading platform is usually a website, and the website will be hacked, or by the competent department in charge of closure.

The disadvantages of the two – bitcoin:

Transaction confirmation time. Bitcoin wallet when first installed, will consume a lot of time to download the historical transaction data block. While bitcoin transactions, in order to confirm the accuracy of the data, will take some time to interact with the P2P network, the whole network has been confirmed, the transaction is completed.

The disadvantages of the three – bitcoin:

The price fluctuates greatly. Due to the large number of speculators involved, resulting in bitcoin cash price fluctuation as a roller coaster. Make bitcoin more suitable for speculation, rather than anonymous transactions.

The disadvantages of the four – bitcoin:

The public does not understand the principle, as well as traditional financial practitioners boycott. Active users to understand the principle of P2P network, know bitcoin without legal manipulation and control. But people don’t understand the difference, many people can not even distinguish bitcoin and Q coins. “No publisher” is the advantages of bitcoin, but in the traditional financial practitioners view, “no issuer” currency worthless.

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