Users can use Bitcoin to buy some virtual items, such as clothes, hats and equipment in online games. As long as someone accepts it, you can also use Bitcoin to buy real-life items. Take RMB as an example. Bitcoin is the serial number of RMB. If you know the serial number on a bill, you have this bill. In operation, a bitcoin user enters a password similar to a bank PIN code and logs into an online bitcoin account.
Through ATM, users can withdraw a corresponding proportion of Canadian dollars in cash from bitcoin accounts or deposit the cash into bitcoin accounts.
Bitcoin users only need a smart phone to use Bitcoin, similar to online shopping. Bitcoin address is a string of letters and numbers about 33 bits long, always starting with 1 or 3, for example, "1dwuna9otzzqyhvkj8dv1tuswmf7r3v". Bitcoin software can automatically generate addresses, which can be done offline without exchanging information online [2]. More than 2 bitcoin addresses are available. Figuratively speaking, there are about two grains of sand in the world. If there is an earth in every grain of sand, the total number of bitcoin addresses far exceeds the number of all sands on all these "earths".
Bitcoin address and private key appear in pairs, and their relationship is like bank card number and password. A bitcoin address is like a bank card number, which records how many bitcoins you have at that address. You can randomly generate a bitcoin address to store bitcoin. Every time a bitcoin address is generated, the private key corresponding to the address will be generated. This private key can prove your ownership of the bitcoin at this address. We can simply understand the bitcoin address as the bank card number, and the private key of the address as the password corresponding to the bank card number. Only when you know the bank password can you use the money on the bank card number. Therefore, when using a bitcoin wallet, please keep your address and private key safe.
2020-12/27 answer.
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How to change bitcoin into RMB?
Bitcoin cannot be converted into RMB. According to the Notice on Preventing Bitcoin Risks issued by the Ministry of Industry and Information Technology of the People's Bank of China, the China Banking Regulatory Commission, the China Securities Regulatory Commission and the China Insurance Regulatory Commission, financial institutions and payment institutions are not allowed to price products or services with Bitcoin, buy or sell Bitcoin as a central counterparty, underwrite insurance business related to Bitcoin or include Bitcoin in the scope of insurance liability, or directly or indirectly provide customers with other services related to Bitcoin, including providing customers with services such as bitcoin registration, trading and clearing. Accept bitcoin or use bitcoin as a payment and settlement tool; Carry out bitcoin exchange services between RMB and foreign currency; Conduct bitcoin storage, custody, mortgage and other businesses; Issuing financial products related to Bitcoin; Take Bitcoin as the investment target of trusts, funds and other investments. In view of the high risk of money laundering and the risk of being exploited by criminals, the Notice requires relevant institutions to effectively fulfill their legal anti-money laundering obligations such as customer identification and suspicious transaction reporting in accordance with the requirements of the Anti-Money Laundering Law of People's Republic of China (PRC), so as to effectively prevent money laundering risks related to Bitcoin. Risk of Bitcoin: The so-called "virtual currency" such as Bitcoin lacks a clear value base, the market is full of speculative atmosphere, and the price fluctuates violently. Investors blindly follow the trend of speculation, which is easy to cause financial losses. Investors need to strengthen their awareness of risk prevention. It is worth noting that so-called "virtual currency" such as Bitcoin is increasingly becoming a tool for money laundering, drug trafficking, smuggling, illegal fund-raising and other illegal and criminal activities. Investors should be vigilant and report the case immediately when they find clues about illegal and criminal activities. Investors participate in speculation through so-called "virtual currency" trading platforms such as Bitcoin, facing the risk of large price fluctuations and security risks, and the technical risks of the platform are also high. There have been many incidents of hacking and theft of trading platforms in the world, and investors must bear their own investment risks. Criminals often use trading platforms to obtain so-called "virtual currency" to engage in related illegal activities, which has great legal risks. Recently, a large number of trading platforms have been suspended by the regulatory authorities for supporting the financing activities of token issuance (ICO). Various so-called "currency" trading platforms have no legal basis in China. The above contents refer to the Notice on Preventing Bitcoin Risks issued by the People's Bank of China-five ministries and commissions. The above contents refer to People's Daily Online-Bitcoin and other virtual currencies as tools for money laundering and illegal fund-raising.
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How to change bitcoin into RMB?
Bitcoin cannot be converted into RMB. According to the Notice on Preventing Bitcoin Risks issued by the Ministry of Industry and Information Technology of the People's Bank of China, the China Banking Regulatory Commission, the China Securities Regulatory Commission and the China Insurance Regulatory Commission, financial institutions and payment institutions are not allowed to price products or services with Bitcoin, buy or sell Bitcoin as a central counterparty, underwrite insurance business related to Bitcoin or include Bitcoin in the scope of insurance liability, or directly or indirectly provide customers with other services related to Bitcoin, including providing customers with services such as bitcoin registration, trading and clearing. Accept bitcoin or use bitcoin as a payment and settlement tool; Carry out bitcoin exchange services between RMB and foreign currency; Conduct bitcoin storage, custody, mortgage and other businesses; Issuing financial products related to Bitcoin; Take Bitcoin as the investment target of trusts, funds and other investments. In view of the high risk of money laundering and the risk of being exploited by criminals, the Notice requires relevant institutions to effectively fulfill their legal anti-money laundering obligations such as customer identification and suspicious transaction reporting in accordance with the requirements of the Anti-Money Laundering Law of People's Republic of China (PRC), so as to effectively prevent money laundering risks related to Bitcoin. The concept of Bitcoin was first put forward by Satoshi Nakamoto on June 5438+065438+ 10/day, 2008, and was officially born on June 5438+1 0/3, 2009. According to Satoshi Nakamoto's idea, open source software is designed and published, and a P2P network is built on this basis. Bitcoin is a P2P digital currency. The transaction records of Bitcoin are open and transparent [50]. Point-to-point transmission means a decentralized payment system. Unlike most currencies, Bitcoin is not issued by a specific monetary institution. It is generated by a large number of calculations according to a specific algorithm. Bitcoin economy uses the distributed database composed of many nodes in the whole P2P network to confirm and record all transaction behaviors, and uses cryptography to ensure the security of all aspects of currency circulation. The decentralized nature of P2P and the algorithm itself can ensure that the currency can not be manipulated artificially and create a large number of bitcoins. The design based on cryptography can make bitcoin only transferred or paid by the real owner. This also ensures the anonymity of currency ownership and circulation transactions. The total number of bitcoins is limited. In the past four years, it only does not exceed105,000, and then the total will be permanently limited to 2 10/00,000. In June, 20021,El Salvador passed the Salvadoran Bitcoin Law, making Bitcoin the legal tender of the country. On September 7th, Bitcoin officially became the legal tender of El Salvador, becoming the first country in the world to give digital currency legal status. On September 24th, 20021year, the People's Bank of China issued a notice to further prevent and deal with the speculative risk of virtual currency transactions. The notice pointed out that virtual currency does not have the same legal status as legal tender. On 202 1, 1,1,the price of bitcoin hit a record high, approaching $69,000 for the first time. From June 5438 to June 2022 10, Bitcoin continued to fall, falling below $42,000, hitting a level not seen since last September.
Lawyer Tang Xiao.
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