Getting started with blockchain | What is the difference between Bitcoin and Q coins?

It's very easy to misunderstand the name of Bitcoin. Many of our friends will ask us some questions about the name in our public message. For example: Can Bitcoin be used as money? Where can I buy Bitcoin? Is there a difference between Bitcoin and Q coins? and many more.

The first two questions have also been answered in previous articles. Today, I mainly talk about the difference between the common electronic goods and the bitcoin on the Internet.

The definition of virtual currency such as Q currency has always been relatively vague. Until 2009, the country issued the first notice to clearly define the virtual digital currency; "Notice on Strengthening the Management of Virtual Money in Online Games", The Q currency was defined once.

The notice said:

“A virtual exchange tool that uses a legal currency to purchase directly or indirectly in a certain proportion… and is expressed in a specific number of units. The online game virtual currency is used to redeem the specified range of online game services provided by the issuing company, within a specified time period, It is expressed as a prepaid card, prepaid amount or points for online games."

It can be seen that the official definition of Q currency is still a virtual digital currency, which is a commodity. In this way, the identity of the Q currency is clearly defined.

The birth of Bitcoin is actually much later than Q coins. In 2009, Nakamoto published the white paper "Bitcoin: A Peer-to-Peer Electronic Cash System", officially proclaiming the birth of Bitcoin. After that, the Bitcoin network began to develop slowly.

The birth of Bitcoin has been difficult to say about its life. In 2013, the German government defined Bitcoin as “digital currency”, which in fact defined Bitcoin itself as a valuable financial commodity. This is also the consensus of the mainstream countries in the world on Bitcoin.

In fact, in terms of fundamental attributes, although these two commodities are all certain currencies, they are fundamentally different from the real currency, the US dollar and the British pound. It is a completely different kind of two items. Let's take a look at the differences between the two.

The difference between Q coins and Bitcoin:

Product issuer

Q coins are a kind of virtual digital goods issued by Tencent. This is a good understanding. Because the Q coin itself is a purely centralized product, intellectual property belongs to Tencent.

Bitcoin was said to have been invented and issued by Nakamoto. This sentence is not right. Bitcoin itself is indeed a mysterious person, Nakamoto was invented, but except for the top 50 bitcoins that he dug himself, the future output of any bitcoin is with Nakamoto. No relationship. Because of the special distribution mechanism of Bitcoin, although Nakamoto is the father of Bitcoin, most of the Bitcoin is not issued by him, but is automatically produced by the mining of the blockchain network through miners.

2. Price

The price of Q coins is fixed forever, 1QB=1rmb, which is also the official exchange price.

The price of Bitcoin as a special financial commodity is not fixed. Changed the pizza from the early 10,000 bitcoins, and now it is about 3-4 million rmb.

The price trend is erratic, but the overall price is also rising with the consensus of Bitcoin. But overall there are still traces to follow. In the future, someone even shouted a slogan with a bitcoin value of $1 million.

3. Distribution method

Q currency issuance is a very traditional centralized distribution mechanism. Users who need it can buy it directly on Tencent's official website. Then use the game, qq, or other consumption.

The Bitcoin issuance model is completely different from the traditional centralized electronic virtual currency, which is dug by the “miners” and then traded directly through the exchange or off-exchange. It is very different from the traditional distribution model of goods.

4. Total issuance

In theory, Q coins are a kind of commodity that Tencent Company has infinitely issued, that is, there is demand, you can buy it casually, and there is no upper limit.

Bitcoin is different. Since the date of birth, the upper limit is 21 million. When the limit is reached, Bitcoin can no longer be produced.

5. Behind the technical support

The technology for issuing traditional virtual currency is to create an electronic voucher, and the corresponding q-coin quantity can be added to the qq account. When using, convert the electronic voucher on different platforms.

The release of bitcoin is supported by blockchain technology. If the transfer of bitcoin between different accounts does not need to be done through a centralized server, the transaction needs to be sent and transferred through the blockchain. The transaction is completed after the other nodes have been verified.

6. Use the scene

The usage scenarios of Q coins are completely built by Tencent or related ecosystems, such as purchasing game props, game recharge, phone bills, video services, and a series of services related to Tencent.

The use of Bitcoin was not fixed by an enterprise. It was given the functionality of a peer-to-peer transaction by its father when it was first born.

However, there are no restrictions on the scene. It can be said that there are places where payment can be made using bitcoin, travel, business, loans, etc., which can be used in places that can be thought of. The reason why there is no popularization at present is mainly due to technical conditions. In the future, the development of blockchain technology will use more and more scenes. Can also meet more complex application scenarios.

After reading so many differences, I can understand the difference between Bitcoin and traditional digital virtual currency. There is still a fundamental difference between the two. However, no matter which one can help the business development, it is worthy of recognition for people's lives. In terms of development, the traditional currency may have reached the limit of development, and the development of bitcoin based on blockchain technology has just begun.

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Author: Nanjing Block Chaining