Bitcoin is a consensus network that has promoted a completely new payment system and a fully digital currency. It is the first decentralized peer-to-peer payment network, controlled by its users without the need for a central management institution or intermediaries. From the perspective of users, Bitcoin is very similar to cash on the internet. Bitcoin can also be regarded as the most outstanding triple-entry bookkeeping system currently available.

　　Bitcoin is the first currency to realize the concept of ‘private currency’. In 1998, Wei Dai first elaborated on the concept of ‘private currency’ in the cypherpunks mailing list, which is: a new form of currency that controls the issuance and transactions of currency using cryptographic principles, rather than relying on a central management institution. In 2009, Satoshi Nakamoto (a pseudonym) published the first Bitcoin specification and its proof of concept in the cryptography mailing listonline casino entranceJoin us. By the end of 2010, Nakamoto left the project and did not reveal much about his identity. Since then, many developers have dedicated themselves to the Bitcoin project, and the Bitcoin community has grown rapidly.

　　The anonymous identity of Satoshi Nakamoto often causes unfounded concerns, many of which are related to misunderstandings about the open-source nature of Bitcoin. The protocol and software of Bitcoin are publicly released, and any developer around the world can view its code or develop their own modified version of Bitcoin software. Just like the current developers, the influence of Nakamoto is limited to those changes he made that were adopted by others, so Nakamoto does not control Bitcoin. Today, the issue of the identity of the inventor of Bitcoin may be similar to the issue of the identity of the inventor of paper.

　　No one owns the Bitcoin network, just as no one owns the technology behind email. Bitcoin is controlled by all Bitcoin users around the world. Developers can improve the software, but they cannot force changes to the rules of the Bitcoin protocol, as all users can freely choose the software they want to use. To maintain compatibility with each other, all users also need to choose software that follows the same rules. Only when all users reach a complete consensus can Bitcoin operate normally. Therefore, all users and developers are highly motivated to accept and protect this consensus.

　　从用户的角度来看，比特币就是一个手机应用或电脑程序，可以提供一个个人比特币钱包，用户可以用它支付和接收比特币。这就是比特币对于大多数用户的运作原理。

　　在幕后，整个比特币网络共享一个称作“块链”的公共总帐。这份总帐包含了每一笔处理过的交易，使得用户的电脑可以核实每一笔交易的有效性。每一笔交易的真实性由发送地址对应的电子签名保护，这使得用户能够完全掌控从他们自己的比特币地址转出的比特币。另外，任何人都可以利用专门硬件的计算能力来处理交易并为此获得比特币奖励。这一服务经常被称作“挖矿”。你可以查阅专用页面 和 原始论文来了解更多有关比特币的信息。

　　是的，越来越多的企业和个人在使用比特币。这既包括像饭店，公寓和律师事务所那样的传统企业，也包括像Namecheap，Overstock.com，和Reddit 这样的流行在线服务。虽然比特币仍然是一个相对较新的现象，但它发展迅速。2013年8月底，流通中的比特币总值超过了15亿美元，每天都有价值数百万美元的比特币在进行兑换。

　　作为商品或服务的支付方式。在一个比特币交易所购买比特币。和你附近的人兑换比特币。通过具有竞争力的挖矿赚取比特币。
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　　尽管可能有人愿意让对方以信用卡或PayPal支付的方式购买自己的比特币，大部分的交易平台是不接受来自这些支付方式的资金的。这是为了防止某些情况下有人用PayPal购买比特币，然后在交易到一半的时候撤销。这通常被称作退单。

　　相比借记卡或信用卡购物，比特币付款更加容易，无需一个商家账户就可以接收比特币付款。在你的电脑或智能手机上的钱包应用程序中，输入收款人的比特币地址和付款金额，按发送键即可完成付款。为了更方便地输入收款人地址，很多钱包可以通过二维码扫描或者NFC技术触碰两部手机获得地址。

　　支付自由

　　无论何时何地都可以即时支付和接收任何数额的资金。无银行假日，无国界，无强加限制。比特币允许其用户完全控制他们的资金。

　　自己选择手续费

　　目前对比特币支付的处理不收取手续费或者仅收取极少的手续费。用户可以把手续费包含在交易中来鼓励更快的交易确认，更快收到由网络发来的交易确认。另外，也有商家处理器协助商家处理交易，每天将比特币兑换成法定货币并直接将资金存入商家的银行账户。因为这些服务都基于比特币，所以它们可以提供远低于PayPal或信用卡网络的手续费。

　　降低商家的风险

　　比特币交易是安全，不可撤销的，并且不包含顾客的敏感或个人信息。这避免了由于欺诈或欺诈性退单给商家造成的损失，而且也没有必要遵守PCI标准。在信用卡无法使用或欺诈率高得令人无法接受的地方，商家也可以很容易地扩展新的市场。最终结果是更低的手续费，更大的市场，和更少的行政成本。

　　安全和控制

　　比特币的用户完全控制自己的交易；商家不可能强制收取那些在其它支付方式中可能发生的不该有或不易发现的费用。用比特币付款可以无须在交易中绑定个人信息，这提供了对身份盗用的极大的防范。比特币的用户还可以通过备份和加密保护自己的资金。

　　透明和中立

　　关于比特币资金供给本身的所有信息都存储在区块链中，任何人都可以实时检验和使用。没有个人或组织能控制或操纵比特币协议，因为它的协议在密码学上是安全的。所以我们可以信任比特币是完全中立，透明且可预测的。

　　接受程度

　　仍然有很多人不知道比特币。每天有更多的企业接受比特币，因为他们希望从中受益，但这个列表依然很小，为了从网络效应中获益，仍然需要有更多的企业支持比特币。

　　波动性

　　流通中的比特币总价值和使用比特币的企业数量与他们可能的规模相比仍然非常小。因此，相对较小的事件，交易或业务活动都可以显著地影响其价格。从理论上讲，随着比特币的市场和技术的成熟，这种波动将会减少。这个世界以前从未出现过任何一个新兴货币，所以想象它将如何进展真的非常困难 (同时也令人兴奋)。

　　处于发展阶段

　　比特币软件依然处于beta版本，许多未完成的功能处于积极研发阶段。新的工具，特性和服务正在研发中以使比特币更为安全，为更多大众所使用。其中有一些功能目前还不是每个用户都能使用。大部分比特币业务都是新兴的，尚不提供保险。总体来说，比特币尚处于成熟的过程当中。

　　关于比特币的大部分信任来自于一个事实：它根本不需要任何信任。比特币是完全开源和去中心化的，这意味着任何人在任何时间都可以查看整个源代码。所以世界上的任何一个开发人员都可以精确验证比特币的工作原理。任何人都可以实时地一目了然地查询现存的所有的比特币交易和已发行的比特币。所有的付款不依赖于第三方，整个系统由大量专家审查过的密码学算法保护，比如那些用于网上银行的算法。没有组织或个人可以控制比特币，而且即使并非所有的用户都值得信任，比特币网络仍然是安全的。

　　You should never expect to get rich through bitcoins or any emerging technology. It is always important to be vigilant about anything that sounds too good to be true or goes against basic economic laws.

　　Bitcoins are a rapidly growing field of innovation, where there are business opportunities as well as risks. Even though bitcoins have been developing at a rapid pace so far, no one can guarantee that they will continue to grow. Any investment of time and resources in bitcoins requires entrepreneurship. There are many ways to make money with bitcoins, such as mining, speculation, or running a new business. All these methods are highly competitive, and there is no guarantee of profit. Everyone should make an appropriate assessment of the costs and risks involved in any such project.

　　Bitcoins, like the credit cards and online banking networks that people use every day, are virtual. Like any other form of currency, bitcoins can be used to make payments online or in physical stores. Bitcoins can also be exchanged for physical currency like Denarium coins, but mobile payments are usually more convenient. The balance of bitcoins is stored in a large distributed network, and no one can maliciously modify it. In other words, bitcoin users have unique control over their funds, and bitcoins will not disappear due to their virtual nature.

　　Like any other currency, the design of bitcoins allows its users to make and receive payments at an acceptable level of privacy. However, bitcoins are not anonymous, so they cannot provide the same level of privacy as cash. Using bitcoins leaves many public records. There are various mechanisms that can be used to protect users’ privacy, and more are being developed. However, there is still work to be done before most bitcoin users correctly use these features.

　　Some people are concerned that private transactions of bitcoins can be used for illegal purposes. It is worth noting that bitcoins will undoubtedly be subject to similar regulations that are already in effect in the existing financial systementrance lottery entrance and The most fun game. Bitcoins are not more anonymous than cash, and they are also unlikely to hinder criminal investigations. Moreover, the design of bitcoins is also to prevent large-scale financial crimes.

　　When a user loses his wallet, the consequence is that the money within it is taken out of circulation. Lost bitcoins are still present in the blockchain like any other bitcoins. However, the lost bitcoins will remain in a dormant state forever because no one can find the private keys that can be used to reuse these bitcoins. According to the law of supply and demand, when the available bitcoins become fewer, the remaining bitcoins will have a higher demand and their value will increase as compensation.

　　The Bitcoin network has already been able to process a much larger number of transactions per second than the current processing capacity. However, it has not yet matured to the extent that it can scale up to the level of major credit card networks. Work is underway to increase the current limit, and future needs are also very clear. From the very beginning, every aspect of the Bitcoin network has been continuously maturing, optimizing, and specializing, and this process will continue in the coming years. With the increase in traffic, more Bitcoin users may use lightweight clients, while fully network nodes may become more specialized services. For more details, please refer to the Wikipedia page on Scalability.

　　As far as we know, Bitcoin has not been legally defined as illegal currency by legislative bodies in most administrative districts. However, some administrative districts (such as Argentina and Russia) strictly restrict or prohibit foreign currencies. Other administrative districts (such as Thailand) may limit the issuance of licenses for certain entities, such as Bitcoin trading platforms.

　　Regulatory agencies from different administrative districts are taking measures to integrate this new technology with the regular, regulated financial system, providing some rules for individuals and enterprises. For example, the Financial Crimes Enforcement Network (FinCEN) of the US Department of the Treasury has issued non-binding guidance on how to describe certain activities involving Online casino and How to find it.

　　Bitcoin is money, and the use of money has always had both legitimate and illegal purposes. In terms of being exploited by financial crime, cash, credit cards, and the current banking system are far superior to Bitcoin. Bitcoin can bring about significant innovations in the payment system, and the benefits brought by these innovations are considered to far outweigh their potential drawbacks.

　　The design of Bitcoin represents a significant advancement in monetary security and is an important protective mechanism against many forms of financial crime. For example, Bitcoin is completely impossible to counterfeit. Users have complete control over their payment transactions and will not receive unauthorized charges like credit card fraud. Bitcoin transactions are irreversible, avoiding fraudulent chargebacks. Through very strong and useful mechanisms, such as backups, encryption, and multi-signatures, Bitcoin can protect funds from theft and loss.

　　Some people worry that Bitcoin may be more attractive to criminals, as it can be used for private and irrevocable payments. However, these features have long been present in the well-established and widely used cash and wire transfer systems. The use of Bitcoin will undoubtedly be subject to similar regulations that are already in effect within the existing financial system, and it is unlikely to hinder criminal investigations. Generally speaking, it is common to have controversies when important breakthroughs are not well-known. The internet is a good example to illustrate this situation.

　　The Bitcoin protocol itself cannot be modified unless almost all users collaborate to choose which software to use. It is unrealistic to try to grant special rights to a regional management authority in the global Bitcoin network rules. Any wealthy organization can choose to invest in mining hardware to control half of the computational power in the entire network, thereby freezing and reversing recent transactions. However, they cannot guarantee that they will always have this ability, as this investment needs to be matched with the total of other miners around the world.

　　However, it is possible to regulate the use of Bitcoin in a way similar to regulating any other currency. Like the US dollar, Bitcoin can be used for various purposes, some of which may be considered legal or not in line with the laws of each administrative jurisdiction. In this respect, Bitcoin is no different from any other tool or resource, subject to different regulations in each country. Under restrictive regulations, the use of Bitcoin can also become very difficult, and it is difficult to determine how many users will continue to use this technology. As usual, the challenge for regulators is to develop effective solutions without harming the development of emerging markets and businesses.

　　Bitcoin is not a legal tender, and does not have the status of legal tender in any administrative jurisdiction, but regardless of the medium used, there is often a tax obligation. In many different administrative jurisdictions, there are various laws and regulations for income, sales, wages, capital gains, or other forms of tax obligations generated by Bitcoin.

　　Bitcoin allows people to trade freely in their own way. Each user can pay and receive payments like cash, and also participate in more complex contracts. Multi-signature allows the Bitcoin network to only accept a transaction when a certain number of members from a specified group agree to sign for the transaction. This lays the foundation for the development of innovative dispute resolution services in the future. This service can allow a third party without control over the funds to approve or reject a transaction when the two parties cannot reach an agreement. Unlike cash and other payment methods, Bitcoin always leaves a public record proving that a transaction has indeed occurred, which can be used to pursue fraudulent businesses.

　　It is also worth noting that merchants usually rely on their public reputation to maintain their business and pay their employees, but when they deal with new customers, they cannot obtain such information. The way Bitcoin operates allows individuals and businesses to be free from the harm of fraudulent chargebacks, and when customers are unwilling to trust a particular merchant, they can choose to require more protection.

　　New bitcoins are produced through ‘mining’, which is a competitive and decentralized process. This process involves individuals serving the Bitcoin network and receiving rewards for it. Bitcoin miners use specialized hardware to process transactions and protect the Bitcoin network, and collect new bitcoins during transactions.

　　The design of the Bitcoin protocol is to issue new bitcoins at a fixed rate. This makes Bitcoin mining an extremely competitive industry. As more and more miners join the Bitcoin network, it becomes increasingly difficult to earn profits, and miners must seek efficiency to reduce production costs. No central management authority or developer has the right to control or manipulate the system to increase their profits. Any behavior that does not comply with the rules followed by the system will be rejected by any Bitcoin node in the world.

　　New bitcoins are issued at a predictable and gradually decreasing rate. The number of newly generated bitcoins will halve each year until the total number of bitcoins reaches 21 million. By then, bitcoin miners may only be able to support themselves through large amounts of small transaction fees.

　　Bitcoin has value because it is useful as a form of money. Bitcoin has the mathematical properties of money (permanence, portability, interchangeability, scarcity, divisibility, and identifiability) rather than relying on physical properties (such as gold and silver) or the trust of central authorities (such as fiat currency). In short, Bitcoin is supported by mathematics. With these characteristics, what a currency form needs to have value is trust and use. For Bitcoin, this can be reflected in its increasingly growing user, merchant, and startup base. Like all currencies, the value of Bitcoin comes directly from people who are willing to accept it as a payment method, which is the only source.

　　The price of Bitcoin is determined by supply and demand. When the demand for Bitcoin increases, its price rises; when demand decreases, the price falls. Currently, there are only a few bitcoins in circulation, and new bitcoins are issued at a predictable and gradually decreasing rate, which means that demand must follow this inflation level to maintain price stability. Compared to the potential market size it might become, Bitcoin is still a relatively small market, and it does not require a large amount of capital to cause fluctuations in market prices, so the price of Bitcoin is still very unstable.

　　Bitcoin price changes over time:

　　There have been many currencies that have failed and are no longer in use in history, such as the German Mark during the Weimar Republic and the more recent Zimbabwean dollar. Although the failure of previous currencies was usually due to hyperinflation that is impossible to occur on Bitcoin, there will always be potential technical failures, competitive currencies, and political issues. The basic experience is that no currency can be considered absolutely safe, without experiencing failures or difficult periods. Bitcoin has been proven to be reliable since its birth a few years ago, and Bitcoin has a great potential for continued growth. However, no one can predict how the future of Bitcoin will be.

　　The rapid rise in prices does not constitute a bubble. Artificial overvaluation will lead to a sudden downward correction, which will constitute a bubble. The fluctuations in Bitcoin prices based on the individual choices of thousands of market participants are the result of market determination of prices. Emotionally, the reasons for price changes include: losing confidence in Bitcoin, not based on the huge differences between the price and value of Bitcoin’s economic fundamentals, increasing news reports stimulating speculative demand, fear of uncertainty, and outdated irrational prosperity and greed.

　　Ponzi scheme is a fraudulent investment operation that uses the money of investors themselves as returns to investors, or uses the money of new investors to pay old investors, rather than earning returns through the company’s own operations. When there are not enough new investors to join, the Ponzi scheme collapses, and the last investors will suffer losses.

　　Bitcoin is a free software project with no central management agency, so no one can make false statements about investment returns. Like other major currencies such as gold, the US dollar, the Euro, and the Yen, Bitcoin cannot guarantee purchasing power and its exchange rate is freely floating. The resulting volatility makes it impossible for Bitcoin holders to predict gains or losses. The fact is, due to its useful and competitive characteristics, Bitcoin is being used by thousands of users and enterprises.

　　Some early users have a large amount of Bitcoin because they risked their time and resources on an unproven technology, which was almost unused at the time and difficult to ensure its security. Before Bitcoin became valuable, many early users often consumed a large amount of Bitcoin or only bought a small amount, so they did not gain significant profits. No one can guarantee that the price of Bitcoin will rise or fall. This is very similar to investing in an early startup company, which may gain value with its practicality and popularity, or may never break through. Bitcoin is still in its early stages, and its designers have a long-term vision; it is hard to imagine how it can be more biased towards early users, and today’s users may be tomorrow’s early users, or not.

　　The uniqueness of Bitcoin lies in the fact that only 21 million Bitcoin will be generated. However, this will not be a limitation because Bitcoin can be divided into smaller sub-units in transactions, such as bit – one Bitcoin equals 1,000,000 bits. A Bitcoin can be divided to the eighth decimal place (0.000 000 01), and even smaller units can be divided if the average transaction size decreases to a certain extent in the future.

　　The spiral deflation theory is explained in this way: if the price is expected to fall, people will choose to buy later in order to profit from the lower price. This decrease in demand will in turn cause merchants to try to stimulate demand by lowering their prices, making the problem worse and leading to economic depression.

　　Although this theory is commonly used by central bankers to explain inflation, it does not always seem to be effective, and there are also controversies among economists about this theory. The consumer electronics market is an example, where the price of goods is continuously falling, but it does not lead to depression. Similarly, the value of Bitcoin is continuously rising, and the scale of the Bitcoin economy is also growing significantly. Because both the economic scale and monetary value of Bitcoin started from zero in 2009, Bitcoin is a counterexample to the deflationary spiral theory, demonstrating that sometimes the theory must be wrong.

　　However, Bitcoin was not designed to be a deflationary currency. A more accurate statement is that Bitcoin had an inflationary trend in its early stages and became stable later on. Only when people carelessly lose their wallets without backups will the number of Bitcoin in circulation decrease. With a stable monetary base and economy, the value of the currency should remain unchanged.

　　This is a chicken and egg problem. To stabilize the price of Bitcoin, more and more businesses and users need to develop a large-scale economy. To develop a large-scale economy, businesses and users will seek price stability.

　　Fortunately, volatility does not affect Bitcoin’s main advantage as a point-to-point payment system from A to B. Businesses can exchange Bitcoin for local currency instantly, enabling them to benefit from the advantages of Bitcoin without being affected by the fluctuations in Bitcoin prices. Due to the many useful unique features and properties provided by Bitcoin, many users have chosen to use Bitcoin. With such solutions and motivations, it is completely possible to achieve limited price fluctuations as Bitcoin matures and develops to a certain extent in the future.

　　Only a small part of the Bitcoin issued so far has been sold on the trading market. The intense competition in the Bitcoin market means that the price of a Bitcoin will fluctuate up and down according to supply and demand. In addition, new Bitcoin will continue to be issued in the next few decades. Therefore, even the most decisive buyers cannot buy all the existing Bitcoin. However, this does not mean that the market is immune to price manipulation. It does not require a very large amount of capital to cause fluctuations in the market price of Bitcoin, so far, Bitcoin still belongs to an asset with high volatility.

　　This is possible. However, as of now, Bitcoin remains the most popular decentralized Online casino and How to find it to date, but no one can guarantee that it will always hold this position. There are already some alternative currencies inspired by Bitcoin. However, a more reasonable assumption is that new currencies will need significant improvements to possibly replace Bitcoin in the current established market, of course, these are still unpredictable. Without changing the basic composition of the protocol, Bitcoin may also adopt some improvement measures from competing currencies.

　　比特币几乎是即时接收付款的。然而，在网络开始将你的交易加入一个区块来确认该交易以及你可以使用接收到的比特币之前，有一个平均10分钟的延迟。确认的意思是在网络上达成了一个共识，即你收到的比特币没有用来支付给别人因此被认定是你的财产。一旦你的交易被包含进一个区块，则之后的所有区块都会包含它，这将极大地巩固这个共识并减小交易撤销的风险。每一个用户都可以自行判断交易被确认的时间点，但通常来说，收到6个确认就如同在信用卡交易后等待6个月那样安全。

　　交易可以不用手续费，但无手续费的交易可能会需要等待更多天甚至星期来完成。尽管交易费可能会随时间增加，但通常的交易费是一个很小的数额。默认情况下，Bitcoin.org上列出的比特币钱包会使用一个它们认为合适的手续费；大部分钱包也会给你在发送交易之前检查手续费的机会。

　　交易手续费能对过多交易导致的网络超载起到保护作用。具体的收费方案还在发展中并将随着时间的推移而改变。因为手续费用与交易金额无关，所以它可能有时候看上去非常低（0.0005BTC相对于一笔1000BTC的转账 ），有时候高的离谱（0.004BTC相对于一笔0.02BTC的支付）。手续费的高低是由交易数据的大小和交易次数等因素决定的。比如说，如果你接收了一大批小额的款项，那么其支付的费用就会高些。这种支付就好比用一分钱硬币来付餐厅帐单。小额比特币的快速消费可能也会产生手续费。如果你的活动符合常规交易的特征，则手续费应该会很低。

　　这没有关系。比特币会在你下次打开钱包程序的时候出现在你的帐户里online casino cheats and The latest website。事实上比特币并不是由你电脑上的软件来接收，它们是被添加到一个由网络中所有设备共享的公共总帐户中。如果你在你的客户端没有运行的时候收到比特币，当事后再打开客户端的时候，它会下载区块并更新任何尚未记下的交易，而那些比特币最终会出现在钱包中，就像是实时收到的一样。只有在你想花比特币的时候才需要用到你的钱包。

　　只有像Bitcoin Core这样的完全节点型客户端才需要较长的同步时间。从技术上来说，同步是一个下载并核实网络上所有以往比特币交易的过程。某些比特币客户端需要知道所有以往的交易才能计算你比特币钱包的可用余额并完成新的交易online website sports and The latest method。这一步骤非常消耗资源，需要有足够的带宽以及能存放整个块链的空间。为了保持比特币的安全性，需要有足够的用户使用完全节点型客户端，因为他们起着确认和中继交易的作用。

　　挖矿是消耗计算资源来处理交易，确保网络安全以及保持网络中每个人的信息同步的过程。它可以理解为是比特币的数据中心，区别在于其完全去中心化的设计，矿工在世界各国进行操作，没有人可以对网络具有控制权。这个过程因为同淘金类似而被称为“挖矿”，因为它也是一种用于发行新比特币的临时机制。然而，与淘金不同的是，比特币挖矿对那些确保安全支付网络运行的服务提供奖励。在最后一个比特币发行之后，挖矿仍然是必须的。

　　任何人均可以在专门的硬件上运行软件而成为比特币矿工。挖矿软件通过P2P网络监听交易广播，执行恰当的任务以处理并确认这些交易。比特币矿工完成这些工作能赚取用户支付的用于加速交易处理的交易手续费以及按固定公式增发的比特币。

　　新的交易需要被包含在一个具有数学工作量证明的区块中才能被确认。这种证明很难生成因为它只能通过每秒尝试数十亿次的计算来产生。矿工们需要在他们的区块被接受并拿到奖励前运行这些计算。随着更多的人开始挖矿，寻找有效区块的难度就会由网络自动增加以确保找到区块的平均时间保持在10分钟。因此，挖矿的竞争非常激烈，没有一个个体矿工能够控制块链里所包含的内容。

　　工作量证明还被设计成必须依赖以往的区块，这样便强制了块链的时间顺序。这种设计使得撤销以往的交易变得极其困难，因为需要重新计算所有后续区块的工作量证明。当两个区块同时被找到，矿工会处理接收到的第一个区块，一旦找到下一个区块便将其转至最长的块链。这样就确保采矿过程维持一个基于处理能力的全局一致性。

　　Bitcoin miners cannot increase their own rewards by cheating or handle fraudulent transactions that damage the Bitcoin network, because all Bitcoin nodes will reject blocks containing invalid data that violates Bitcoin protocol rules. Therefore, even if not all Bitcoin miners can be trusted, the Bitcoin network remains secure.

　　Consuming energy to protect and operate a payment system is not a waste. Like any other payment service, using Bitcoin generates processing costs. Services necessary for running the popular financial system, such as banks, credit cards, and armored cars, also consume a lot of energy, although the total amount of energy they consume is not as transparent as Bitcoin and is not easy to measure.

　　The design of the Bitcoin mining principle allows it to optimize the mining process over time by using specialized hardware, thus consuming less energy. However, the operating costs of mining still proportionally increase with demand. When the competition in Bitcoin mining becomes too fierce and the returns decrease, some miners choose to stop their activities. In addition, all the energy consumed by mining eventually turns into heat, and the most profitable miners are those who can make good use of heat. An optimal and efficient mining network does not consume any extra energy. Although this is an ideal situation, the economic principle of mining is that individual miners strive towards this ideal condition.

　　Mining creates a lottery-like competitive mechanism, making it very difficult for anyone to continuously add new transaction blocks to the blockchain. This mechanism prevents any individual from obtaining the ability to freeze certain transactions, thus ensuring the neutrality of the network. This mechanism also prevents any individual from replacing part of the blockchain to reduce their own costs, otherwise this practice could be used to defraud other users. The mining mechanism makes it extremely difficult to cancel a previous transaction, as it requires rewriting all the blocks after the transaction.

　　In the early days of Bitcoin, anyone could use their computer’s central processing unit to search for new blocks. As more and more people began mining, the difficulty of finding new blocks increased significantly, to the point where the only cost-effective method now is to use specialized hardware. You can visit BitcoinMining.com for more information.

　　Bitcoin technology, including the protocol and cryptography, has a strong security record, and the Bitcoin network may be the world’s largest distributed computing project. The most common weakness of Bitcoin is user error. The Bitcoin wallet file storing the private key may be accidentally deleted, lost, or stolen. This is very similar to storing actual cash in electronic form. Fortunately, users can use reliable security strategies to protect their funds, and they can also use suppliers that provide good security levels and insurance services for theft or loss.

　　The protocols and cryptographic rules used by Bitcoin are still effective after many years, which is a good phenomenon, indicating that the design of this concept is very good. However, security vulnerabilities have also been discovered and corrected during the execution of various software. Like other forms of software, the security of Bitcoin software depends on the speed of discovering and correcting problems. The more similar problems are discovered, the more mature Bitcoin tends to become.

　　There are often misunderstandings about theft and security vulnerabilities that occur in different trading platforms and businesses. Although these are unfortunate events, they do not represent that Bitcoin has been attacked by hackers, nor do they represent that there are defects within Bitcoin, just as bank robberies do not harm the currency itself. However, it is indeed necessary to have a set of good strategies and intuitive security solutions to better protect users’ funds and reduce the general risks of theft and loss. In the past few years, such security features have developed rapidly, such as wallet encryption, offline wallets, and multi-signature transactions.

　　It is impossible to easily change the Bitcoin protocol. Any Bitcoin client that does not comply with the protocol cannot force other users to comply with its own rules. As for the current protocol, dual spending or consumption without a valid signature on the same blockchain are not possible. Therefore, it is impossible to create a large number of bitcoins out of thin air, use the funds of other users, or damage the entire network, and similar situations are impossible to occur.

　　However, most miners may arbitrarily choose to freeze or cancel recent transactions, and most users may also apply pressure to make some modifications to the protocol. Because Bitcoin can only operate normally when all users reach complete consensus, it is very difficult to modify the protocol, requiring an overwhelming majority of users to adopt these changes so that the remaining users have no choice but to follow.

　　Yes, most of the systems that depend on cryptography, including traditional banking systems, are like this. However, quantum computers do not yet exist, and may not appear in the short term. When quantum computing is indeed about to become a threat to Bitcoin, post-quantum algorithms can be used to update the Bitcoin protocol. Given the importance of this update, it is reasonable to believe that developers will review it repeatedly and ultimately accept it for all Bitcoin users.

　　This is the detailed content of Bitcoin Knowledge启蒙：Summary of Common Questions Related to Bitcoin. For more information about common Bitcoin questions, please pay attention to other relevant articles on the Script Home website!

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