国产热热热精品,亚洲视频久久】日韩,三级婷婷在线久久,99人妻精品视频,精品九热人人肉肉在线,AV东京热一区二区,91po在线视频观看,久久激情宗合,青青草黄色手机视频

Make me your Homepage
left corner left corner
China Daily Website

Beware of the baneful Bitcoin bug

Updated: 2013-11-29 07:02
By John Coulter ( China Daily)

Some people have been bitten by the Bitcoin bug, bidding up its value to above $1,000 for just one invisible "coin". Others have been bitten by scams, losing real money they paid only to be "hacked".

The digital currency seems mysterious to a newcomer and yet most impressive when a serious business dinner ends with payment to the waiter with a casual brush of a smart phone. The former tradition of a comical pretense of who pays the bill, with grabbing of wrists and fumbling for cash or card, has given way to an aura of awe as a new avant-garde era makes being generous look cool.

Beware of the baneful Bitcoin bug

China now transacts half of the global Bitcoin volume and is a leader in pushing up the exchange rate. A schoolteacher cum computer geek named Li Xiao who signed up at the outset five years ago now has Bitcoins worth millions of US dollars. It's time for those not in the know to understand this new phenomenon.

Barter trading began with cavemen. "Money" allows flexibility, tokens, metals and paper. The global financial crisis of 2008 is said to have been "resolved" not with the physical printing of more currency notes, as depicted in news stories, but simply through computer clicks, now ratcheting up $85 billion a month out of the US Federal Reserve.

It is no coincidence that small groups of computer geeks found 2008 the right time to introduce a virtual currency. Bitcoins are not backed by any asset and exist only in the networks of computers. They are dependent on "believers" prepared to pay conventional currency so that they can transact across borders and without any government regulation.

Like the rise of the stock market in Europe centuries ago, the first traders knew and respected each other. The camaraderie was not, as in Britain, from an "Old Boy" network of elite schools, but through exchange and development of cipher-technology, evolving into software language that was meant to guarantee security.

Ironically, but perhaps not surprisingly, though, individuals were proud of their independence and freedom. "Cyphering" was standardized through involvement and imprimatur of the US National Security Agency. The concept of secure exchange had been around for 20 years but the global financial crisis and the exposure of the weakness and further weakening of the dollar encouraged the launch of Bitcoin among cypher experts. Like the British Old Boys of the past, "shares" were traded only among those known, trusted and respected. Despite being strung around the world and possibly never meeting, their interaction on their core interests verified commitment.

Previous Page 1 2 Next Page

 
 
...
建始县| 东源县| 木里| 昌图县| 舞阳县| 锦屏县| 康乐县| 台东县| 马公市| 台北县| 靖州| 深州市| 库伦旗| 静乐县| 壶关县| 台湾省| 渭南市| 防城港市| 独山县| 万山特区| 黄平县| 阳山县| 南昌县| 晋中市| 定边县| 米易县| 大田县| 定襄县| 商南县| 开封市| 张北县| 得荣县| 新宁县| 斗六市| 平南县| 肇州县| 平塘县| 松阳县| 潞西市| 青田县| 旬阳县|