Lang Xianping: why don’t I the 100 coins?

This is a screenshot of a lot of people have seen the recent online crazy pass, my hands refused to others send 100 coins for me, but when it coincides with the virtual currency inflation, I see choose silence. This few days bitcoin almost cut, the screenshots of the video as an egg for you (screenshot details click at the end of the paper it interpret out of context, the full version of the video) Talk about bitcoin, there is one point I believe that many people do not know.

No one like to explain to you how the RMB or US dollar printed, Nakamoto also did not expect you to truly understand bitcoin is how to. But all the scams have one thing in common, is the inventor must have a decent thing to take over the world serious plagiarism transformation.

What is the originator of bitcoin?

What is this is plagiarism serious serious things from the world? Called BOINC (Berkeley Open Infrastructure for Network Computing, Berkeley open network computing platform), which is currently one of the mainstream distributed computing platform, by University of California at Berkeley computer science department in 2003 the development of the distributed computing system.

What is called distributed computing or open grid computer? For example, we have a computer, you do not often use, or even boot, also the screen saver ah, or do you just typing, look at the video, at this time the computer itself super computing power, you don’t right. In this way, the University of California at Berkeley has come up with a way to the computing ability of everyone surplus, to solve the most important human frontier research, such as from the radio telescope data in the picture screen, which might be another Earth in other galaxies. So, for example, says the United States has 100 million computer, you see the video in the background, he is in the calculation of the most important of these problems, 100 million surplus computing power distribution in the computer thousands of households together, basically seckill many super computer, and save the national finance of super computer frequently tens of billions of huge investment dollars.

Then, they want to reward you? First, send you a free screensaver very nice animation, the animation is actually your computer is calculating the radio telescope photos, the universe is very beautiful. Second, occasionally send you a certificate of honor, sent to your e-mail address.

You take the time to study a little, you will find something to be a BOINC and bitcoin nature.

He let you in any place, as long as the computer, network and electricity, will be able to participate in the calculation, this term is called distributed computing technology to solve the distributed behind accounting, data encryption and so on;

In this project the calculation itself is no economic benefit, so they can only give you an electronic version of the certificate of honor, to thank you to provide computing power; but do not participate in the calculation, won’t get the certificate of honor is limited. If you want to get, you have to spend money to participate in the calculation and get people to exchange electronic certificate.

Asymmetric information, opaque, he did what in the end, actually did not know, even if people who initiated the project by calculating your ability to confirm the gravitational waves in the back, the Nobel prize is the people, you are not.

So, what is bitcoin things? Bitcoin is an electronic version of the certificate can not be pirated.

Marx’s eyes how much does it cost?

According to people familiar with Marx’s view, the value is no difference in the commodity condensation of human labor, that is the value of the goods. Marx will also value contains use value and exchange value. So, how much money bitcoin this “honorary certificate” value?

The first is to buy the machine cost, need to spend money, is about 1 million yuan more than a little bit. The cost of electricity is second. Electricity power *24 hours 1.4 kilowatt *0.45 yuan / kWh, electricity is equal to 15 yuan a day. In order to calculate bitcoin, a year China to waste much power? About 5 billion degrees, equivalent to the Three Gorges power station a month. Wasted so much power, not produced any real things.

So, bitcoin is essentially a value for the 0 thing, but the exchange value can be 1 million yuan.

Why do you say that? Because from the beginning of the Berkeley University of the distributed computing source, with such a huge amount of computing power, is this thing itself does not have any visible economic value. Even from the source, bitcoin is a Ponzi logic, self circulation ah, you spend ten thousand dollars to buy a bitcoin mining machine is just half a day, is calculated from a random number, random number with the feature of bitcoin rules solution, can become a qualified bitcoin, qualified key is 10 minutes within the whole world will only have 25 pieces, it could not cheat.

But why are the exchange value? Because do this thing, you have to spend 1 million dollars to buy computing power from the primary market to get through their own operations; or you can spend about the same price, from the secondary market to exchange.

Blockchain, who is lying?

A block chain, there is one thing I think is a lot of people do not know.

Most of the currently advocated blockchain application prospect is limitless interest. The truth is you don’t see in Chinese media. I quoted a foreign media reported several objective:

A foreign expert Kesting Chi Con M’s conclusion is more simple and direct: Over the past decade, no one really to find a breakthrough by chain block.

Block chain did not solve what?

Use block chain is the first to provide technical support for the currency like bitcoin encryption. A lot of people that are in, Visa and MasterCard have become the extinction of the dinosaurs, bank transfer also to be eliminated, because it may not need a commission broker is no way the cost of instant transaction. The banking revolution is just a start……

Before long, the dream is shattered. First of all, do not need a middleman cost free instant transaction was: cash. Bitcoin replace only dollars, but Visa and MasterCard are actually on dollar based bank transactions, provide a series of value-added services, including our Alipay and WeChat to pay, for example, allow banks to track fraud disputes, and to verify the identity of the buyers and sellers. In fact, for the use of payment products of the people, the key features of the new payment system (think of the early stage of PayPal or domestic Alipay) is a kind of confidence, if not goods described, you can get the money back. To accept the payment of the people, the main feature is their customers to have it, and willing to use it. No one really wants to pay with bitcoin, bitcoin is also no reason this popular.

In addition, bitcoin is not actually a good payment system for processing sixty thousand transactions per second Visa, while bitcoin history is handle 7 transactions per second. Study on the improvement of efficiency is bitcoin technology, but the starting point of the new technology is only about the performance of the existing trading system 0.01%. It is worth noting that, even for these 7 transactions, the consumption of bitcoin trading system energy has reached 35 times of Visa. If you put the bitcoin trading volume increased to the size of the Visa, then this one will use electricity off the world now every generation, there will be need 5000 nuclear reactor to provide the required power.

There are two reasons for the decision, bitcoin or any tokens based on digital block chain is not a kind of a ready-made panacea: the first is the government than the individual have the advantage of second formal banks than NGOs have the advantage.

Government support of the banking system, the biggest feature is the bank bankruptcy, your money is safe, less than 50 million in government savings insurance gives you full insurance, more important is, if you have money in the bank, some people go to the bank robbery, the bank can not exempt banks to unconditionally the acceptance of your deposit in the bank. This guarantee is behind every sovereign state as the legal tender of their reversibility, identity authentication, auditing standards, and when things go wrong when the survey system. From the design that bitcoin does not have these things.

There was a large number of cases, many people can see the bitcoin account because of their email hacking, password theft, and then looted. He was scared of what no way, at a loss, you lost bitcoin private key, you have no money, no right of recourse. This situation is very common — 2014 years, when the bitcoin traders Mt.Gox because of security problems and loss of $400 million of investor money. Another bitcoin traders Bitfinex customers due to loss of funds and closed.

Imagine, if not the bank in a country that is safer than the bank, the country will be like? There will be a large area of the financial system, especially the collapse of the banking system, and even the emergence of public confidence in the regime to collapse. So, now bitcoin or blockchain medieval banking token is placed, the long run, after twenty years there who Niubi ah, who is fishing from inside a pot of gold, after all there so many clever people, feudal lords vying for the throne, you Changba me play, certainly lawrence. However, you are a people, I do not recommend you to participate in this 99% may be destined to dog meat you game.

The above article only analyzes some fundamentals of bitcoin. About why Chinese government should ban bitcoin, each rose behind the mysterious existence of who it is, I have all these detailed interpretation in “Walton” in the course of investment, and also recently with import new, detailed block chain, interested friends can download Kung Fu finance APP, my “Walton class” to listen to the subscription investment.

100 bitcoins don’t give away, then the professor said “the bitcoin price, and no value”, in the current market conditions, the professor also made the judge, please stamp the video below.

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