Getting started with blockchain | Bitcoin consensus system

Mankind has always been a species that has reached a consensus from the constant game, from the worship of the gods in the primitive society of the obscurity, to the gods and totems, to the existence of superhuman beings, and then to the Enlightenment to derive knowledge. It is human beings that are the source of evolution.

From the era of great navigation, the continuous improvement of material life, the pursuit of technology and wealth is even more unstoppable. After the initial formation of the framework of globalization, human beings have a unified big market in the true sense.

The first must be money.

In fact, not only gold and silver can be money, but some tribal shells and feather cloths can act as currency. It was really said by Buffett that pointing to a certain stone as a currency has really appeared in human history.

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However, if it is a complex or large-scale trading network, the requirements for money are different. It requires at least currency uniformity and stable value. To maintain the uniformity of coins and the stability of the currency, it is often necessary for the state to use legal means. This has resulted in a unified currency pattern, regardless of whether it is private coinage or national coinage.

In the 13th century, all civilizations began to pay attention to the issue of coinage. The history of China's currency development is relatively early. The copper coins minted in the Northern Song Dynasty were both popular in Southeast Asia and Japan. They are similar to today's US dollar, and there is no one in the limelight.

In the West Asia region, gold coins minted by the Byzantine Empire can be spent in the entire Mediterranean region. After the 13th century, some Italian cities, such as Florence and Genoa, began to model their own gold coins in the same way as Byzantine, and the money they cast was in Western Europe. So don't talk about money, even the international currency was born.

Finance is not just a simple currency. The formation of a credit system cannot be underestimated.

As we all know, doing business is risky. Your customer's payment is late, your shipment has a problem, and even your factory has an earthquake. At this time, many businessmen may find ways to borrow money to survive the crisis. Therefore, a stable credit system is of great significance in reducing business risks. It is a way to hedge the risk of life with the fact that the current college graduates can only use flowers and borrow money.

In the 13th century, various civilizations also generally adopted a credit system in the form of family or family. Needless to say, the Jews are famous for their fine lending tomorrow. The most famous Venetian businessman Charlotte of Shakespeare reflects the relatively frequent usury activities.

In Western Europe, the Pope has to raise military spending to launch jihad and fight against infidels, so it is necessary to raise funds everywhere. This led to the religious organization of the Templars and the development of the earliest banking industry. The most famous is the Knights Templar, religious organizations, faith, and knight virtues, that is, holding money bags to do business.

Globalization has spawned an equity crowdfunding system. In Europe at the time, the risk of opening a merchant ship to the sea was very large. In the case of a natural disaster, a shipwreck, it is commonplace, but there are interests in places where there is risk. Once the ship is loaded with goods, the benefits are enormous.

In the Middle East and Italy in the 13th century, a system was developed in which the owner sold a portion of the equity of a ship in advance and earned some money to increase the number of sailors, repair ships, and purchase weapons and equipment. If the ship returns from a cruise and makes a fortune, the proceeds can be distributed to the person who bought the equity.

Even fishermen, hawkers and laborers in the port can buy shares in such cargo ships. It is similar to the current retail investors playing the new currency circle ico.

The above is a very common thing from the modern people's point of view, but it was concentrated in the 100 years of the 13th century, and it is generally accepted by everyone. The vitality is extremely tenacious. What is the deepest logic in the end?

Because the bottom of the system is not a regulation, but a consensus. Once the consensus is created, it will become the common memory of all mankind.

However, where capital is concentrated is the place with the greatest risk. In order to solve modernization, it is essentially a process of capital concentration. Capital concentration is also the concentration of risk, and in order to solve the risk, whether it is the coinage system, the credit system or the equity system, the high cost is paid behind.

The cost is the strength of the state. With the strong protection of the state and the emergence of professional service groups, the implementation of the system can be ensured.

These include bank clearing systems and intermediary service personnel who are responsible for the operation of the entire system. The problem is that they do not generate wealth, so they only use the wealth of the entire society to support them.

The cost of creating a system is also a new kind of assistance system. If there is no guarantee of power, Bitcoin will be worthless. It is the price of bitcoin that has formed the entire system. That is what we call the cost.

When the entire Bitcoin community forms a consensus and is feeding back to the Bitcoin mechanism, the cost is the price. How to ensure that a system of progress is not driven by one person, the promotion of the whole community, one person is not a system, two people are not a system, a group of talents is a system, and it is an institutional revolution.

Finance has been formed from the primitive society, the currency style is constantly changing, from shells to feathers, to the son, gold and silver, the dollar and the euro, each style change is a system of establishment, the sovereign currency originates from the country's strong The support of national power has created a kind of force shock. It must use legal tenders to establish a consensus from scratch. The general equivalent of circulation must be the currency of the legal currency.

Nowadays, the globalization of the Internet and the monetary barriers of various countries have led to the lag of wealth circulation. Bitcoin grows from nothing, from the underground to the countertop, and the vitality of the self grows. The size of the community and the volume of transactions are not extinguished by the suppression of national regulatory policies, because the consensus and system will not disappear because of the suppression.

Author: Bitcoin Caesar

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