Defining Bitcoin mining

On July 15, Nasdaq announced that it would acquire Cinnober, a cryptocurrency-friendly stock exchange in Sweden. Nasdaq issued a "$190 million cash acquisition proposal" to the exchange and called it "the major financial technology pDefining Bitcoin miningrovider of global brokers, exchanges and clearing houses."

When the space utilization rate of the current block is higher than 50%, the basic fee of the current block will increase proportionally (the upper limit is 15% for each block), and when the utilization rate of the current block resists 50%, The basic fee will drop. In a sense, this makes everyone in the same agreement internal cost estimation tool.

To add, open finance cannot be a completely decentralized finance. It must be compatible with the existing financial system, such as the legal system, the issuance of securities, and the registration system. Centralized exchanges are indispensable for the rise of the currency industry. If fiat currency and Bitcoin cannot be exchanged, the current market value of Bitcoin may not reach 100 million US dollars.

CSW entered the BCH community at the end of 2017, especially the Chinese community, and publicly declared that he, Dave Klieman and David Rees are Satoshi Nakamoto, showing off his degree, number of papers, number of patents, wealthy friends, luxury cars, and beautiful women. And privately showed people large addresses, attacked BTC, attacked Ethereum and other public chains, attacked Wu Jihan, attacked or blocked almost all dissenters, hoarded high-profile computing power and claimed to kill BTC, etc. These have made CSW famous and won him a large number of followers in less than a year. The Chinese BCH community has split into a community where CSW is Satoshi Nakamoto and respected as a leader. Wu Jihan's power decentralization encountered CSW's establishment of personal authority, which made this war inevitable.

Since then, people's interest has clearly begun to shift to cryptocurrency. For example, on Eikon's foreign exchange statistics page, the number of clicks on cryptocurrency websites is second only to the euro. In addition to the price of Bitcoin, Thomson Reuters also added data on Ethereum, Litecoin, bitcoincash, Ripple and Bitcoin futures.

Barclays Bank was first exposed in April this year of the cryptocurrency trading platform plan. At the time, thDefining Bitcoin miningey wanted to assess the potential demand for cryptocurrencies from hedge funds and other large investors. Although the bank denied the plan, there is news that they have preliminary assessment results.

In September 2018, Circle of the United States launched USDC (Circle, 201) based on Ethereum. USDC is issued 1:1 with USD reserves. Any institution can become a USDC issuer as long as it follows the USDC agreement and meets the relevant regulatory compliance requirements. USDC Follow the rules of two-way exchange. After the USDC issuer receives the USD reserve provided by the user, it will be deposited in a bank protected by the FDIC. USDC transactions between users are Token transactions in the blockchain and will not affect the bank When USDC users redeem USDC, the USDC issuer will not only destroy the received USDC, but also transfer the corresponding amount from the reserve to the user’s bank account.

But when we consider transaction fees and Bitcoin block bytes, the situation is just the opposite: altcoin block space is a good substitute for Bitcoin block space. Remember, this demand has nothing to do with acquiring Bitcoin. Users just want to buy things with Bitcoin payment channels. The following picture from the testimony of FINCEN Congress in 2013 hopes to make it clear: