Bitcoin (比特币) and blockchain technology on the front page of a Chinese newspaper

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Bitcoin (比特 币) and blockchain technology on the front page of a Chinese newspaper

Bitcoin (比特币) and blockchain technology on the front page of a Chinese newspaper.

What more positive than seeing a major Chinese newspaper quote Bitcoin (比特币) and blockchain technology (区块链技术).

The Chinese newspaper People’s Daily published on the right of its one, an article dedicated to Bitcoin and blockchain technology, Bitcoin BTC being the first successful blockchain application says the title of the article in Chinese.

比特币:区块链技术
首个成功应用

“Bitcoin: Blockchain Technology
First successful application ”

invest in bitcoin

You now know how Bitcoin is written in Chinese if you did not know it.

The fact that a Chinese newspaper cites blockchain technology but also the Bitcoin BTC cryptocurrency indicates the Chinese government’s will to highlight this technology and speed things up in China as Chinese President Xi Jinping said in his statement, calling on the Chinese people to focus on blockchain technology.

This article on Bitcoin in this Chinese newspaper explains to people what Bitcoin is, blockchain technology and how it works.
An article for educational purposes and which aims to spread the word about Bitcoin, cryptocurrency and blockchain technology.
The article mentions Bitcoin mining, blockchain, the Bitcoin halving but also the risk of using Bitcoin in money laundering.

We translated the Chinese newspaper article about Bitcoin and blockchain technology.
Translation will be approximate, the automatic translation of Google can not perceive some subtleties of the Chinese language.
But this translation gives a clear idea of ​​the message that the government intends to convey to the Chinese population concerning Bitcoin and the blockchain.

Translation of the Bitcoin article:

Bitcoin: Blockchain Technology
First successful application

Bitcoin is probably the most popular in recent years.
One of the topics is the inevitable future development of the trend currency, or another “tulip bulb” with frenetic madness?

First of all, Bitcoin is not a tangible currency, its production and exploitation based on the Internet, is an open source form P2P (peer-to-peer), different currency.
The first gold and silver coin chosen for its natural attributes is also different from the legal money that people have used for nearly 100 years.
(Fiat Money) – by national law and sovereign credit.
Banknotes and bitcoins are born with modern technology.

Bitcoin is the first success of blockchain technology.
Trade records of the traditional financial system are kept in silver
In the database, the blockchain is bitcoin.
Book, bitcoin property generated at any time.
Transaction records are recorded in the ledger of the blockchain.

As long as the client is downloaded, you can receive relevant information.
The address and private key of Bitcoin are similar to those of personal accounts.

The personally owned Bitcoin password is locked for the individual
At the address, only the private key can be used to unlock and send it to another
Address.
Implement the transaction: Will be sent to the entire network during the transaction
An invoice, verified by other users, once the test passed, the transaction was successful.
The first verified this, the users who are valid for the transaction will be rewarded with a little
currency.

The bitcoin bonus is divided into two parts:
Are transaction fees paid by the transferor?
The bitcoin already exists in the system, the other part is the system.
Newly Generated Bitcoin Rewards: The greater the computing power of the computer,
The more likely you are to get a bitcoin reward.

The so-called “minors”.
He is a specialist in checking transaction information and updating records.
In general, Bitcoin has the following characteristics:
The total amount is limited and the problem will not be uncontrollable.
The only source of the line is the foundation contract for the system after successful accounting.

The basic rewards start with 50 bitcoins, each created.
After 210,000 blocks, the reward will be halved.
Half have already taken place twice and successful accounting will only get 12.5
Bitcoin.

Estimated at about 2140, the total amount of Bitcoin, it will reach the upper limit of 21 million.
Good anonymity, the identity of the account holder will not be known by anyone.

People can use Bitcoin at will.
Perform a transfer transaction without the need for a kernel such as a bank transfer.
Check all kinds of identity information, not to link them with a credit card
However, this feature also makes Bitcoin into money laundering, etc.
Illegal transactions are heavily used, currently paid for by Bitcoin.
The main uses are black market transactions and dark net transactions.

The production and maintenance of Bitcoin consume a lot of energy.
“Mining” means that every new bitcoin is produced.
Computer Performance Performs an Encryption Process to Solve Complex Mathematics
Question: The amount of money and machine calculations due to mining?
Capacity is proportional to size, in terms of probability, the higher the hardware performance, the higher the proportion of computing power of all minors, the easier it is.

Get bitcoin. For higher profits, the “miners”
In competition with each other, the world’s top 10
The sum of the Mining Pool calculations represents 75% of Bitcoin’s computing power.
Strong concentration of forces and maintenance of distributed decentralized accounts, need a lot of energy.

The price of Bitcoin is subject to big fluctuations.
Bitcoin, if they are not linked to real legal documents and real objects, it is difficult to ensure the stability of its price.
Commitment to the currency not depreciating significantly over a short period, because
this person is willing to use legal money instead of returning to gold and silver objects.
Unlike legal tender, without legal restrictions, the physical owner can connect with Bitcoin as he sees fit.
Decoupling, which makes Bitcoin very sensitive to irrational emotions
Influence, the price has a big fluctuation.

And if you know how to read Chinese:

比特币:区块链技术
首个成功应用

比特币(Bitcoin),无疑是近年来最热门
的话题之一。它究竟是未来货币发展的必然
趋势,还是疯狂炒作的又一颗“郁金香球茎”?
首先,比特币不是任何有形的货币,它的
生产和运行基于互联网,是一种开源形式的
P2P(Peer to Peer)数字“货币”。不同于人
类早期的因其自然属性而选择的金银货币,
也不同于近100 年来人们习以为常的法币
(Fiat Money)——由国家法律和主权信用支
撑的纸币,比特币完全诞生于现代科技互联
网时代。
比特币是区块链技术的第一个成功应
用。传统金融体系的交易记录都被保存在银
行中心的数据库中,而区块链则是比特币的
账本,任何时刻产生的比特币的所有权以及
交易记录,都记录在区块链账本中。任何人
只要下载了客户端,就能接收相关信息。
比特币的地址、私钥类似于个人账户与
支付密码。个人拥有的比特币被锁定在个人
地址上,只有运用私钥才能解锁并发往别的
地址,实现交易。交易过程中会向全网发送
一份账单,其他用户会对其校验,一旦通过验
证,交易行为就成功了。第一个校验出这笔
交易是否有效的用户,会被奖励一笔比特
币。这笔奖励的比特币分为两部分:一部分
是交易的手续费,这部分由转账者支付,是系
统中已经存在的比特币;另一部分则是系统
新生成的比特币奖励。计算机的算力越大,
越有可能得到比特币奖励。所谓的“矿工”就
是专门进行验证交易信息并更新记录的人。
总体而言,比特币有以下几个特性:
总量有限性,发行不会失控。比特币发
行的唯一来源是记账成功后系统的基础奖
励。基础奖励最开始有50 个比特币,每创建
21 万个区块后奖励会减半,到目前为止,减
半已经发生了两次,成功记账只会得到12.5
个比特币。估计到2140 年左右,比特币总量
将达到2100 万个的上限。
良好的匿名性,账户拥有者的身份不会
被任何人知晓。人们可以随意地通过比特币
进行转账交易,不用像银行转账那样需要核
验各种身份信息,更不用与任何银行卡绑
定。不过,这一特性也使得比特币在洗钱等
非法交易中被大量运用,目前比特币支付的
最主要用途是黑市交易和“暗网”交易等。
比特币的生产和维持耗用了大量能源。
“采矿”使得每生产一个新比特币都要通过高
性能计算机执行加密过程解决复杂的数学难
题。由于挖矿得到的货币数量和机器的运算
能力大小成正比,从概率上看,采用性能越高
的硬件,在所有矿工中算力的占比越高,更易
获取比特币。“矿工”们为了获得更高的收益,
彼此之间在算力上进行着较量,全世界10 大
矿池的算力总和占据了比特币算力的75%,算
力的高度集中以及维持分布式去中心化的账
户需要消耗大量的能源。
比特币的价格容易大幅波动。比特币只
是一堆数据,如果不与现实法币和实物挂钩,
就很难确保其价格的稳定性。国家主权信用
的承诺使法币在短时间内不会大幅贬值,因
此人们才愿意使用法币而不是回归金银货
币。与法币不同,在没有法律约束的情况下,
实物所有者可以随心所欲地与比特币挂钩、
脱钩,这使得比特币非常容易受非理性情绪
影响,价格产生大幅度的波动。

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