Joke Collection Website - Mood Talk - What exactly is Bitcoin? Say it in common language.
What exactly is Bitcoin? Say it in common language.
Bitcoin was born in 2008-a lucky time, because this year happened to be the first year of the financial crisis, and the reputation of traditional currency was damaged. It was designed by the pen name Satoshi Nakamoto, and there may be some other designers.
They designed a complicated algorithm. When you use a computer to crack it, it will produce bitcoin (so-called mining). When your computer completes a task, it will generate a new bitcoin.
At first, these tasks are easy to complete, and you can quickly generate a bunch of bitcoins with your notebook. But they are too smart to let money be created indefinitely, because if they do, it will become infinite inflation.
As more and more bitcoins are created, your computer needs to do more work to create new bitcoins. Eventually, around 2040, the total number of bitcoins will be limited to 2 1 million forever.
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