Chapter 152: Satoshi Nakamoto and Bitcoin

There is only one explanation, that is, there is a precedence in hearing the Tao, and you can be a teacher!

Which aspect of Liu Liu's exposure to things came into contact with earlier than me, or earlier than most of the people around him? will make him treat the issue of virtual currency so differently at the moment!

The life experience in Fujian Province is much the same, and the people in Fujian Province who he knows who want to work in Los Angeles also know that this stage can be ruled out, and what remains is the knowledge after coming to the United States.

In the United States, Liu Liu seems to have never been in contact with any rich and noble people except for pickling girls, how did he get this wealth secret?

He just mentioned the underground bank, antique calligraphy and paintings... Well! That's right! Asset Transfer! And it's a huge asset transfer!

I see, this trick is really high enough, and the American who published the paper probably has never thought of this secret of wealth so far!

Thinking of this, Chen Chumo's whole body seemed to be shocked, and his whole body was frozen by the impact of the huge wealth gate!

"What is this virtual currency called?" After a few seconds of stalemate, Chen Chumo came back to his senses and asked.

"Bitcoin!" Liu Liu said loudly.

"This American is of Japanese descent, called Satoshi Nakamoto. Bitcoin was made up by Satoshi Nakamoto and a Japanese math professor named Shinichi Mochizuki! Liu Liu continued.

"Are you really sure that Bitcoin can be more valuable than diamonds?" Chen Chumo asked.

"Bitcoin has this characteristic and has this potential. I have confidence in it, but there is no guarantee that it will eventually achieve the value we want, because it is subject to too many artificial constraints. As long as we find a way to get the developed Western countries led by the United States to recognize its legitimacy, we can basically increase its value by thousands of times. Liu Liu said.

"Liu Shuai, you are a very good storyteller. Stealing antique calligraphy and painting to run an underground bank is fake, and it is true to win me over to invest in the acquisition of Bitcoin. Chen Chumo said.

Don't say it, save some face for your friends, why do you always embarrass me! Liu Liu's careful point was broken by Chen Chumo, and his face suddenly turned red.

"Tell me, how much do you know about this Bitcoin?" Chen Chumo asked.

"According to Satoshi Nakamoto's paper, Bitcoin is an 'electronic currency' consisting of complex strings of computer-generated code, and new bitcoins are manufactured through pre-programmed programs. Compared with fiat currencies, bitcoin does not have a centralized issuer, but is generated by the calculation of network nodes, and anyone may participate in the creation and mining of bitcoin, which is not controlled by the central bank and any financial institution, and can be circulated all over the world, and can be bought and sold on any computer connected to the Internet. Anyone can mine, buy, sell, or receive bitcoin from anywhere, and no one can identify the user during the transaction. According to its design principle, each bounty is 50 bitcoins. Ten minutes after its birth, the first batch of 50 bitcoins was generated, and the total amount of money at this time was 50. Since then, Bitcoin has grown at a rate of about 50 per 10 minutes. When the total reaches 10.5 million (50% of 21 million), the bounty is halved to 25. When the total reaches 15.75 million, the bounty is halved to 12.5 more. It has a total of 21 million and was dug up in 2140. Currently, just over a million bitcoins have been mined. As the total amount of bitcoin increases, the mining speed will be halved in four years, and the growth rate of new coin production will be very slow in the later stage. 87.5% of all bitcoins will be mined in the first 12 years, until the day when it reaches 21 million more than 100 years later. Liu Liu said.

"After these months of research, I have summarized several characteristics of Bitcoin. 1. Decentralization: Bitcoin is the first distributed virtual currency, and the entire network is composed of users, and there is no central bank. Decentralization is a guarantee of Bitcoin's security and freedom. 2. Worldwide circulation: Bitcoin can be managed on any computer connected to the Internet. Anyone can mine, buy, sell, or receive bitcoin regardless of location. 3. Exclusive ownership: A private key is required to manipulate Bitcoin, which can be kept in isolation on any storage medium. No one can access it except the user himself. 4. Low transaction fees: Bitcoin can be remitted for free, but in the end, a transaction fee of about 1 bit per transaction will be charged to ensure faster execution of the transaction. 5. No hidden costs: As a means of payment from A to B, Bitcoin has no cumbersome limits on the amount and procedures. If you know the other party's Bitcoin address, you can make the payment. 6. Cross-platform mining: Users can explore the computing power of different hardware on many platforms. Combining these characteristics, Bitcoin has the potential to be a new currency. I firmly believe that the price of bitcoin will exceed $10,000 in five years, and in 20 years it will exceed the value of diamonds, and the value of 21 million bitcoins will reach an unpredictable level after all the bitcoins are mined, and it will not be the end but the starting point, and then it will continue to increase in value with the accumulation of social wealth. Liu Liu added.

Liu Liu is simply a genius, and the unintentional move of the American engineer Satoshi Nakamoto was accidentally stabbed out of a wealth by him. Through his own research, Liu Liu's understanding of the value of Bitcoin is even deeper than that of its creator, Satoshi Nakamoto himself, and this great secret of wealth belongs to Liu Liu.

If Liu Liu said, then Bitcoin is really a rebellious existence! Not to mention anything else, in terms of practical nature, just a hidden asset transfer function will definitely make countless wealthy people bound by the financial system flock to it, and it is difficult to increase the value. In fact, Bitcoin became an effective way for the wealthy in China to illegally transfer assets in the next few years!

"If you have enough capital, how do you plan to run the Bitcoin business?" Chen Chumo asked.

"Buy a large number of bitcoins on the market, as much as you want, and only buy and not sell! As long as we control more than 50% of the total amount, then the entire world of virtual currency will belong to us in the future! Liu Liu said excitedly.

"Liu Liu, if you really want me to be your investor, I hope you can be more honest with me and be more specific about how to operate. With your intelligence, Liu Shuai, you must have a comprehensive and detailed operation plan, I want to hear it. Chen Chumo said that the mirage-like wealth conjecture of Bitcoin in front of him will not make him lose his rationality, and he needs more ingenious Bitcoin information to make a comprehensive consideration of Bitcoin investment.

"At present, there is no capital intervention in the bitcoin market, and if you are willing to invest, you will become the first real gold digger in the history of bitcoin. Now the transaction price of a single bitcoin is about 25 US dollars, which is already a high rate of return compared to the mining cost, and if it is purchased at a price slightly higher than the market price, I think many netizens who mine will be very happy to sell us the bitcoin in their hands. Liu Liu replied.

"It's hard to buy 50%, or 10.5 million bitcoins, just by buying. Moreover, once a large buyer is found in the market, it will definitely attract a group of small and medium-sized capital speculators, who will buy bitcoin in the hands of netizens to blackmail large buyers to increase prices. Once this happens, it will quickly push up the price of the Bitcoin market, creating a seller's market for Bitcoin. Once the imbalance between supply and demand occurs, I am afraid that we will be bankrupt before we receive 10 million bitcoins. We also need money for the development of the great value of Bitcoin in our hands, and if the governments of various countries do not recognize the legitimacy of Bitcoin and cannot mortgage Bitcoin loans, where will the funds come from, I can't endlessly fill this hole out of my pocket, right? Chen Chumo's questions are always on point, and he fought side by side with the financial genius Sima Wei to win compound interest real estate, and Chen Chumo knows a lot of knowledge about financial investment now.

"Chumer, the problem you are worried about is not a problem, the mining of bitcoin is phased, and the seller's market will only stay in the first stage for the time being. Let's put it this way, Bitcoin mining is roughly divided into three stages, the first stage is mining using CPU; The second stage is the graphics card mining you mentioned, commonly known as burning the graphics card; The third stage is the ASIC mining stage. In the first stage, due to the low difficulty and low amount of calculations, ordinary computers can carry out bitcoin mining activities at a very low cost, which is why many netizens are keen on mining. At this stage, there is no way to prevent all bitcoin mining enthusiasts from participating in coinage activities, what we can do is to buy as many bitcoins as possible from them, even if it is a seller's market, we must invest a lot of money to follow up on the purchase, and we cannot let the bitcoins generated in the stage fall into the hands of others. Of course, at this stage, we can't let the market price go all the way up, we can release some negative public opinion and signals for Bitcoin in the market, and the price will naturally fall in response to panic, so that the price of Bitcoin will always be at a low point. Liu Liu said.

No, Chumer, the situation you are worried about, I will never let it happen until there is no big capital discovering the secret of Bitcoin's wealth!

"As a large number of bitcoins are mined, it will become more and more difficult to mine in the future, and it will naturally enter the second stage. The second stage will discourage a large number of Bitcoin mining enthusiasts due to the damage to the original computer parts. However, as long as there are transactions in the market, there will still be people who ignore this damage and continue to speculate on bitcoin mining, which will lead to a further increase in the price of bitcoin in the market. Since it is speculation, these blind small and medium-sized capital investors will naturally not be easily repelled by those rumors on the market. At this stage, we need to do at least two things, one is to continue to buy bitcoin in the market, and the other is to try to quickly transition from the second stage to the third stage. Liu Liu continued.