Can I use bitpay in China?

Bitpay can be used in China. Bitpay, a global bitcoin payment service provider, was established in May of 20 1 1. In 20 14 years, BitPay claimed that the daily transaction volume was 1 10,000 USD. 2065438+In April 2008, bitpay, a bitcoin payment service provider, announced the completion of the $40 million Series B financing, which was led by venture capital companies such as Menlo Ventures. Bitpay's round B financing started as early as 20 17 12. At that time, it was announced that it planned to use the funds from Series B financing to expand its business in Asia, recruit new engineers and technicians, supervise authorization and acquire technology. At that time, the company claimed to have processed nearly $2 billion in annualized payments.

1, which was put forward by bitcoin in the early days.

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 thought, design and publish open source software, and build P2P network on it. Bitcoin is a P2P digital currency. Bitcoin transaction records are open and transparent, and peer-to-peer transmission means 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 the design of cryptography to ensure the security of all aspects of currency circulation.

2. Algorithm

The decentralized nature and algorithm of P2P can ensure that the currency value will not be manipulated by a large number of bitcoin manufacturers. 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 amount of bitcoin is very limited and scarce. The monetary system will not exceed/kloc-0.05 million in four years, and the total amount will be permanently limited to 2/kloc-0.05 million. El Salvador passed the El Salvador Bitcoin Act, making Bitcoin the legal tender of the country. Bitcoin officially became the legal tender of El Salvador and became the first country in the world to give digital currency legal status. The People's Bank of China issued the Notice on Further Prevention and Disposal of Speculative Risks in Virtual Currency Trading. The notice pointed out that virtual currency does not have the same legal status as legal tender.

3. Bitcoin has reached a new height.

On 202 1, 1,1day, the price of bitcoin reached a new high, approaching $69,000 for the first time. In 2008, the global financial crisis broke out. On June/KOOC-0/65438+/KOOC-0/October/KOOC-0/day of the same year, a person who claimed to be Satoshi Nakamoto published "Bitcoin White Paper: Peer-to-Peer Electronic Cash System" on the website of P2P Foundation, saying that he introduced a new concept of electronic money-Bitcoin, and the Bitcoin creation block was born. Compared with legal tender, Bitcoin has no centralized issuer, but is generated through the calculation of network nodes. Anyone can participate in the manufacture of bitcoin, which can be circulated around the world. It can be bought and sold on any networked computer. No matter where he is, anyone can mine, buy, sell or collect bitcoin, and during the transaction, Chinese and foreign people can't identify the user's identity information. On June 5, 2009, Bitcoin, which is not controlled by the central bank or any financial institution, was born. Bitcoin is a kind of digital currency, which consists of a series of complex codes generated by computer. The new bitcoin is made by a preset program.

4. Whenever Bitcoin enters the mainstream media's field of vision,

The mainstream media always invite some mainstream economists to analyze Bitcoin. Previously, these analyses always focused on whether Bitcoin was a scam. Today's analysis always focuses on whether Bitcoin can become the mainstream currency in the future. The focus of debate often focuses on the deflationary characteristics of bitcoin. Many bitcoin players are attracted by the fact that bitcoin cannot be released at will. Contrary to the attitude of bitcoin players, economists' fixed total of 2 1 10,000 bitcoin is polarized. Keynesian economists believe that the government should actively adjust the total amount of money and use the tightening of monetary policy to refuel or brake the economy in time. Therefore, they believe that Bitcoin's fixed aggregate currency sacrifices adjustability, and worse, it will inevitably lead to deflation and damage the overall economy. Austrian economists hold the opposite view. They think that the less government intervention in the currency, the better. Deflation caused by fixed monetary aggregate is not a major event, even a sign of social progress.