Bitcoin (Bitcoin: bits of gold) the first is a network of virtual currency , you can buy them in real life items. It is characterized by decentralized, anonymous, can only be used in the digital world, it does not belong to any country and financial institutions, and without geographical restrictions, it can be redeemed at any place in the world.
Bitcoin generation principle:
Speaking from the nature of Bitcoin, the essence of Bitcoin particular solution is actually a bunch of complex algorithms generated . Refers to a particular solution of equations can get a set of an infinite number of (in fact, a finite number of bits credits) in solution. And each particular solution can unlock the equation and unique. To RMB analogy, then, Bitcoin is RMB serial number, you know the serial number on a banknote, you will have this note.
The mining process is continued to seek through the huge amount of computing particular solution of the equations, the equations is designed to become only the 21 million special solution, the upper limit is 21 million bitcoins.
To tap the Bitcoin can download a dedicated bit computing tools currency, then register a variety of partner sites, the registered user name and password to fill calculation program, and then click operation officially began. After completion of the Bitcoin client installed, you can get directly to a Bitcoin address, when others pay, just stick to your own address to others, you will be able to make a payment by the same client. After installing the client token bit, it will allocate a private key and a public key . You need to back up data purse containing private key in order to ensure the property is not lost. If, unfortunately, completely formatted hard disk, personal Bitcoin will be completely lost.
Bitcoin wherein:
To the center : Bitcoin is the first distributed virtual currency, the entire network is composed of the user, not the central bank. To the center is to ensure the security and freedom of Bitcoin.
Worldwide Circulation : Bitcoin can access on the Internet computer management Renyiyitai. Regardless of where anyone can dig, buy, sell or collect bits of currency.
Exclusive Ownership : private control Bitcoin needs, it can be stored in any storage medium isolation. In addition to the user himself no one can get.
Low transaction costs : free Bitcoin can export, but ultimately will be charged per transaction of about 1 bit sub-transaction fee to ensure faster trade execution.
No hidden costs : as a means of payment from A to B, Bitcoin no cumbersome procedures and limit restrictions. We know each other Bitcoin address can be paid.
Cross-platform mining : Users can explore different hardware computing capacity on many platforms.