www射-国产免费一级-欧美福利-亚洲成人福利-成人一区在线观看-亚州成人

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

 
8.03K
 
...
主站蜘蛛池模板: 手机看片免费基地 | 特级做a爰片毛片免费看一区 | 国产亚洲三级 | 99精品免费| 能在线观看的一区二区三区 | 欧美人成一本免费观看视频 | 亚洲欧美日本国产综合在线 | 欧美成人乱弄视频 | 成年人视频网站免费 | 国产毛片一级国语版 | 精品国产亚洲一区二区三区 | 欧美一级日本一级韩国一级 | 亚洲综合伊人色一区 | 国产毛片网站 | 国产蜜汁tv福利在线 | 精品中文字幕久久久久久 | 精品欧美一区二区三区免费观看 | 欧美在线视频一区 | 日本一区二区三区四区公司 | 成年日韩片av在线网站 | 精品国产免费一区二区三区五区 | 亚洲国产一区二区三区四区 | 91热成人精品国产免费 | 久久99国产精品久久99 | 国产成人盗摄精品 | 久久成人福利视频 | 99久久精品国产一区二区成人 | 亚洲天天 | 国产精品亚洲欧美日韩一区在线 | 欧美一级视频免费观看 | 亚洲色色色图 | 欧美二级在线观看免费 | 成人一区二区免费中文字幕 | 亚洲最新 | 国产精品成人在线播放 | 免费一级片视频 | 亚洲丝袜另类 | 亚洲一区中文字幕 | 精品国产亚洲一区二区三区 | 黄色资源网址 | 热e国产|