hello everyone Welcome back to Tangtalk Bitcoin price ushered in the highest price of 2020 The evening of October 21 Bitcoin price surge Data Display Bitcoin once broke the $13,000 mark Up to 1318439 USD Then slipped Increased 5
99% within 24 hours Bitcoin turnover in 24 hours is $41137 billion The reason for this Bitcoin surge is PayPal, a third-party payment platform from the United States Announced that it has been obtained New York State Department of Financial Services The first conditional cryptocurrency license PayPal is about to launch a cryptocurrency payment method Users will be able to purchase via PayPal account Holding and selling cryptocurrency The service will be launched in the US in a few weeks And in early 2021 in more than 26 million companies worldwide PayPal franchise stores support virtual currency payment By the end of this year No transaction cost of cryptocurrency will be charged Will not be in the PayPal account Charge fees for holding cryptocurrency Previously supported cryptocurrency payments Mostly geek circles Cryptocurrency itself is a programmer This group of people And now PayPal as a traditional payment tool Why did you choose to support cryptocurrency payments? What is the unknown abacus behind this What major impact will it have on cryptocurrency? Let’s talk about these two issues with you today Let us first understand How was cryptocurrency born Many people may think that doing cryptocurrency Just to make money But it's not like this Some inventions that changed the world Often not because of invention Only a strong desire to make money But because they have their own ideas and pursuits And willing to fight for it The world's first cryptocurrency The birth of Bitcoin Is from a group of faith Cyberpunk with knowledge and power The money that cyberpunks fantasize about The standard features of currency Push to the extreme logically It’s not like the currencies of various countries need to be carried with you After entering the territory of another country, it must be exchanged They think that promote the development of cryptocurrency There are two important reasons 1 Revolt against financial despotism Throughout history People have been criticizing the central bank for over-issuing paper money Or reduce the precious metals in the coin To devalue the currency The gold standard in the early 20th century Is the most prevalent financial policy in the global financial system Gold and paper money hook This system is a mechanism to limit the power of the central bank The Fed and other central banks can print more banknotes As long as they have the corresponding amount of gold If you don’t have gold, you can’t print paper money President Nixon issued an order in 1971 Let the dollar no longer be linked to gold The value of the U
S dollar and other major currencies Let the market decide US dollar deviates from the gold standard Central bank is too powerful Can issue banknotes without control This will damage the long-term value of the dollar Will also cause uncontrolled government spending Bitcoin is a brand new creation Bitcoin is not the same as the dollar and euro Is not issued by the central bank of a certain country It's not transferred by a large financial institution Bitcoin is a currency created and managed by users themselves The new currency is maintained by the people who maintain this currency network Make it slowly 2 Pursue complete anonymity This group of people who call themselves cyberpunks They are a group with higher degrees Well-educated programmer What they often do Just addicted to your own online world In the online world They can be unfettered Do whatever you want But in the real world it can’t In the real world Each of us has almost no privacy Even if you are never on any social network Post information about yourself But as long as you are consuming and alive You can use your credit card purchase records Or bank transaction records to find you So if you want to protect your privacy completely The problem must be solved fundamentally That is to invent a completely anonymous payment tool Year 2009 Satoshi Nakamoto uses public key encryption technology Built the core program of Bitcoin Everyone who uses this new technology Can get a public key And a random combination of numbers and letters Corresponding to it is a Freely sendable address With a corresponding encryption key Key that only the user knows These two keys are related by mathematics It can be opened only through this key Information sent to him by others through the public key Its calculation is very complicated Data through public key Unable to calculate the combination of encryption keys It can’t be calculated even with the most powerful supercomputer Then Bitcoin that solves the technical problem How to enter the mainstream society Acceptable to the public Every year May 22 is Bitcoin Pizza Day This is to commemorate cryptocurrency Used to purchase items for the first time I thought a programmer from Florida in 2010 Purchased two pizzas with 10,000 bitcoins These bitcoins are now worth more than $100 million But this transaction can only be said to be Social experiment among programmers The development of Bitcoin today is inseparable from three websites These three websites are Mentougou Silk Road Bitinstein These three websites can support the use of Bitcoin to buy goods Let Bitcoin this virtual currency Really connected with reality Also because Bitcoin is completely anonymous All many black products began to use Bitcoin for transactions And the main places they trade are these three websites What really makes Bitcoin known to the wider public is Bitinstein 2012 Charlie founded Bitinstein In the same year, it received investment from the Winklevoss brothers The Winklevoss brothers are twins They and Facebook founder Zuckerberg I was a classmate when I was studying at Harvard Zuckerberg will initially be with these two brothers Make a social networking site together But in the end Zuckerberg started Facebook himself Then the two brothers sued Zuckerberg Accuse him of stealing their concept Finally they settled out of court for $65 million Investment funds of the Winklevoss brothers Is from this settlement fee After this investment More and more tech investors from Silicon Valley Start investing in Bitcoin websites and exchanges More and more media are beginning to report on Bitcoin Bitcoin is on the cusp of the investment world More and more appear on the market A cryptocurrency created by imitating Bitcoin Such as Litecoin, Ethereum, Bitcoin Cash, etc
Cryptocurrencies tend to be volatile Make them attractive to speculators But it’s much less attractive to merchants and shoppers Compared with other mainstream payment systems Transaction speed is slower and cost is higher So why does PayPal support cryptocurrency PayPal President and CEO said As central banks and consumers On the occasion of the new crown pneumonia epidemic Growing interest in digital currencies The company started to roll out this service Money transfer to digital form is inevitable Obvious advantages in financial inclusion and access The payment system will therefore be improved Efficiency speed and flexibility PayPal wants the service Will encourage the use of virtual digital currencies on a global scale Cryptocurrency payments on PayPal will use Fiat currency such as US dollar settlement This means merchants will not Receive payment in virtual coins Many central banks around the world have stated Intends to develop its central bank digital currency in the next few years Facebook led a project called Libra's cryptocurrency project Libra was established in 2019 But PayPal withdrew after a few months The recent central bank digital currency boom continues to rise China’s digital renminbi also took place last week Shenzhen's digital RMB red envelope pilot Visible PayPal supports cryptocurrency Just to not be behind the next era No one knows how long cryptocurrency can go Will Bitcoin be the cryptocurrency that has the last laugh? No one can know But there is no doubt Cryptocurrency Or rather Digital currency Is the future trend PayPal supports cryptocurrencies What it means for the cryptocurrency market PayPal is currently used worldwide One of the most extensive online payment tools If Alipay is Chinese Mainly supports RMB settlement Then PayPal is global Support USD, EUR, JPY, etc 25 major international currencies Cross-border e-commerce in the world Third-party settlement and payment platform Occupy a large market share PayPal has worldwide 346 million active accounts Processed in the second quarter of this year $222 billion in payments PayPal supports cryptocurrencies This will not only bring Bitcoin Conducted at 26 million PayPal merchants Application scenarios of shopping payment More importantly, it means Encrypted digital currency represented by Bitcoin Being recognized by mainstream business circles So it is an absolute good for Bitcoin So yesterday Bitcoin hit a new high Whether it's Bitcoin or other cryptocurrencies Is slowly getting out of the geek circle Towards popular life This is a brand new market A whole new era A key to open the door to the future world The above is the content of this video If you like, please like and subscribe Don't forget to turn on the little bell Then I will be notified of my video update See you next time Bye bye
