久久亚洲国产成人影院-久久亚洲国产的中文-久久亚洲国产高清-久久亚洲国产精品-亚洲图片偷拍自拍-亚洲图色视频

US EUROPE AFRICA ASIA 中文
Opinion / Op-Ed Contributors

Beware of the baneful Bitcoin bug

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

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

Most Viewed Today's Top News
New type of urbanization is in the details
...
主站蜘蛛池模板: 国产精品亚洲二线在线播放 | 特级做a爰片毛片免费看一区 | 国产午夜精品理论片小yo奈 | 日韩精品中文字幕在线 | 国产乱子精品免费视观看片 | 亚洲加勒比在线 | 伊人蜜桃 | 毛片在线免费视频 | 国产成人在线免费观看 | 99精品国产兔费观看久久99 | 亚洲三级精品 | 一级毛片免费 | 香港三澳门三日本三级 | 在线满18网站观看视频 | 国产成人a福利在线观看 | 欧美成人性毛片免费版 | 久久精品国产400部免费看 | 国产精品国产亚洲精品看不卡 | 国产精品合集久久久久青苹果 | 麻豆日韩 | 中文字幕曰韩一区二区不卡 | a级片免费观看视频 | 国产一区二区三区毛片 | 成年午夜性视频免费播放 | 国内精品久久久久影院网站 | 高清精品女厕在线观看 | 亚洲国内精品自在线影视 | 国产欧美日韩在线人成aaaa | 亚洲精品在线免费观看视频 | 成年女人毛片 | 精品一区二区三区视频在线观看免 | 全免费a级毛片免费毛视频 全午夜免费一级毛片 | 一区二区三区视频网站 | 欧美日韩亚洲另类 | xx欧美老妇 | 久久精品国产欧美日韩亚洲 | 毛片视频网站 | 理论片亚洲 | 国产做爰一区二区 | 久久久日韩精品国产成人 | 手机在线观看a |