The price of Bitcoin today is ¥118,759.96 per coin.

Bitcoin price today is ¥118,689 CNY with a 24-hour trading volume of ¥149,653,028,264 CNY. We will update the price of converting BTC to CNY in real time. Bitcoin is down 0.94 over the past 24 hours. It is currently ranked #1 on CoinMarketCap with a market cap of ¥2,281,842,458,801 CNY. Its circulating supply is 19,225,431 BTC coins In addition, the supply is capped at 21,000,000 BTC coins.

What is Bitcoin (BTC)?

Bitcoin is a decentralized cryptocurrency. In a white paper published in 2008, the mechanics of Bitcoin were first discussed by a person or group of people under the pseudonym Satoshi Nakamoto. In January 2009, Bitcoin officially came out.

Bitcoin is a currency based on a peer-to-peer network, and all transactions are conducted directly between equal and independent network participants without the permission or facilitation of any intermediary. In Satoshi Nakamoto's own words, Bitcoin was created to allow "one party to pay another party directly online without going through a financial institution."

Before Bitcoin, there were similar concepts of decentralized electronic money, but Bitcoin is unique in that it is the first cryptocurrency ever to be used in real life.

Who is the father of Bitcoin?

At present, the recognized father of Bitcoin and the founder of Bitcoin is a person named Satoshi Nakamoto. As of today, the true identity of the person or organization behind this pseudonym remains unknown.

On October 31, 2008, Satoshi Nakamoto released the Bitcoin white paper, which detailed how to use this peer-to-peer network currency. They/he proposed a distributed ledger of transactions, grouping them into batches (called "blocks") and securing them with cryptography — henceforth, the entire system was called a "blockchain."

Only two months later, on January 3, 2009, Satoshi Nakamoto dug out the first block on the Bitcoin network, which is the creation block, thus giving birth to the world's first cryptocurrency .

However, although Satoshi Nakamoto is the founder of Bitcoin and the first person to implement Bitcoin applications, many people have contributed to the development of cryptocurrencies over the years, including constantly patching its defects and adding new features.

There are more than 750 contributors listed in Bitcoin’s source code repository on GitHub, including key figures such as Wladimir J. van der Laan, Marco Falke, Pieter Wuille, Gavin Andresen, Jonas Schnelli, and others.

What are the characteristics and advantages of Bitcoin?

The most unique advantage of Bitcoin is that it is the first cryptocurrency to appear on the market.

Its success has created a global community and led to the birth of a whole new industry, allowing millions of Bitcoin enthusiasts to create, invest, trade and use Bitcoin and other cryptocurrencies in their daily lives. The emergence of Bitcoin laid the conceptual and technological foundations that inspired thousands of competing projects.

Now, the market value of the entire cryptocurrency market has exceeded 300 billion, and this is based on the idealized concept realized by Bitcoin-anyone anywhere in the world can pay or receive money without relying on any bank or bank. Trusted intermediaries such as financial services companies.

Thanks to its pioneering nature, Bitcoin has remained at the head of this active market for more than a decade after its launch. Even if Bitcoin loses its unshakable dominance, it is still the cryptocurrency with the highest market capitalization due to the uniqueness of its trading platform (that is, it provides many Bitcoin usage functions, such as wallets, transactions, payment services, online games, etc.) Currency, its market value in 2020 is between 100-200 billion.

How many bitcoins are in circulation?

The total supply of Bitcoin is limited by the characteristics of its software, and the total supply will not exceed 21,000,000. New bitcoins can be created through "mining": since transactions are made across the network, miners can find them, package them in blocks, and secure them with complex encryption algorithms.

As compensation for expending computing resources, miners are paid for successfully adding blocks to the blockchain. When Bitcoin was first launched, the reward for each new block was 50 bitcoins: every 210,000 new blocks were mined, the reward would be halved, and this process took about four years. In 2020, the block reward has been halved three times, down to 6.25 bitcoins.

Bitcoin cannot be pre-mined, that is, there is no mining and distribution of Bitcoin by the founder before the public offering. However, in the first few years after Bitcoin's launch, competition among miners was relatively small, allowing a group of early participants in the Bitcoin network to amass a large number of Bitcoins through conventional mining: Satoshi Nakamoto himself is said to have More than one million bitcoins.