Recently, the biggest news in the storage market is not the release of a certain product by a certain brand, but the use of hard drives for mining, and the resulting wave of industry-wide shortages. So what exactly is hard drive mining? Who is Chia Coin? Since Satoshi Nakamoto brought Bitcoin to the forefront
IT House reported on February 21 that before the advent of the MacBook, Apple’s iconic consumer product was the iBook series.
A Reddit post that went viral on Thursday showed that even though it has been 27 years since the first iBook was released, Apple still retains system update servers for the series, and the iBook can connect to modern Wi-Fi networks without any modifications. Triggered user discussion on Apple's long-term software support strategy.
As a product line born after Steve Jobs returned to Apple in 1996, iBook is a more user-friendly and less powerful follow-up to Apple's professional laptop PowerBook. Obviously, this positioning has not affected Apple's support for it.
The poster @Decent-Cow2080 showed an iBook G4 released in 2003 and successfully downloaded several system patches in 2026. Of course, these updates are just patches released over a decade ago, as security support for the iBook G4 ended in 2011.
Even so, these files are still quietly stored on Apple's servers, waiting for anyone who needs them. This is equivalent to Microsoft servers still hosting Windows 98 today (which is not the case).
Remarkably, the 23-year-old device seamlessly connects to modern Wi-Fi networks without any modifications. This is one of the important legacies left by Jobs for iBook G4.
As the first mainstream consumer laptop equipped with Wi-Fi (IT Home Note: Apple called it AirPort at the time), Jobs even used a hula hoop to demonstrate on stage, as if to let people see the future wireless connection method with their own eyes. Nearly three decades later, people continue to marvel at its ability to seamlessly connect to the Internet, which is significant in itself.
Korean media reported that former President Yoon Seok-yue told the ruling party on the 20th: "I hope we will stop destroying democracy and look back at the lives of the people."
In a position paper released by the defense team on the same day, former President Yoon argued that the accused civil unrest leader was sentenced to life imprisonment in the first instance: "From the investigation to the special inspection to the second special inspection, how many people are going to be purged and the national security completely destroyed?"
Former President Yoon said: "I believe that our great citizens will once again seek justice under the banner of liberal democracy." "Our struggle is not over yet. We must unite and fight."
The following is the full text of former President Yoon’s position:
Dear citizens:
In declaring emergency martial law on December 3, my judgment and decision are entirely for the country and the people. Its sincerity and purpose remain unchanged to this day.
However, those forces that frame the decision to save the country as civil strife and try to go beyond the political offensive and use it as an opportunity to purge and eradicate the opposition will become more rampant in the future. It was originally a decision to save the country, but due to my shortcomings, all citizens ended up experiencing many setbacks and hardships, for which I deeply apologize.
The judiciary has failed to completely exclude false and inflammatory political power. It is a blessing that the novels and delusions of the special prosecutor claiming that I had failed to create conditions for long-term rule and declared emergency martial law were not adopted. However, even if you admit my sincerity, the logic of declaring it civil unrest simply because the military went to Congress is unconvincing.
I deeply doubt the point of engaging in legal battles through appeals when the independence of the judiciary cannot be guaranteed and it is difficult to expect a verdict based on law and conscience. I look forward to re-evaluating my judgment and decision when liberal democracy in the Republic of Korea is firmly established and legalism is truly established.
Today, I no longer care about the judiciary’s oppression of my established conclusions and political power. However, the reality that many soldiers, police officers, and public officials are in trouble due to investigations and trials, and that their families are also suffering from pain and setbacks, is really heartbreaking. The entire responsibility for the decision-making process rests with me. Please stop subjecting them to more severe trials and oppression. Political revenge is enough against me alone. From investigation to special inspection to the second special inspection, how many people will be purged to completely destroy national security?
I hope that we will stop destroying democracy and look back at the lives of the people.
I, Yin Xiyue, will take a breather from the trial in the square and take all the responsibility. But I believe that our great citizens will once again seek justice under the banner of liberal democracy.
Our fight is not over yet. We must unite and fight.
I pray that the Republic of Korea can be rebuilt not with defeat but with progress filled with hope.
Bitcoin, which can be called the "digital gold" of virtual currencies, has seen a sharp rise in global transaction prices in recent days. On June 6, the price of one Bitcoin rose to nearly 20,000 yuan, a record high.
Previously, a "Want to Cry" ransomware attack that ravaged the world attracted global attention. Different from previous virus attacks, this time the hacker did not block the road, but put forward a condition: If you want to recover the data, you can exchange it for Bitcoin!
Anonymous, tax-free, supervision-free, and borderless... the mysterious Bitcoin has once again attracted the attention of all sectors of society and even financial regulatory agencies in various countries. Although the virus attack has been controlled to a certain extent, all parties are still worried that Bitcoin will once again become a money laundering tool for hackers.
Why is Bitcoin so popular? Xiao Lei, chief researcher of Gold Wallet, analyzed that Bitcoin has several advantages that existing financial systems do not have, such as its anonymity. Secondly, it skips the traditional financial system of financial intermediaries, such as banks. Another point is that it is global, especially if it is spread on the Internet, you actually don’t know where the person who initiated the payment is. Bitcoin is now a very expensive thing, its price has exceeded that of gold.
Obtaining is like mining, Bitcoin is equal to "digital gold"
In 2008, when the global financial crisis broke out, a person calling himself Satoshi Nakamoto posted a research report titled "Bitcoin: A Peer-to-Peer Electronic Cash System" on a secret cryptography review group, and Bitcoin was born. On January 3, 2009, the world’s first batch of Bitcoins were “digged”.
Bitcoin is a digital virtual currency. Compared with legal currency, its biggest feature is "decentralization", that is, it does not rely on any issuer, but is generated by calculation. Anyone can obtain it through specific 64-bit operations. Issuance and system security are based on mathematical principles. According to Satoshi Nakamoto's design, the total number of Bitcoins is only 21 million. Currently, more than 16 million Bitcoins are owned by individuals, and the remaining nearly 5 million Bitcoins require a large amount of data calculations to obtain.
The process of obtaining Bitcoin is vividly called "mining", and the participants in mining are "miners", and the supercomputers needed for mining are "mining machines". The process of "mining" is essentially the process of using a computer to solve a complex mathematical problem. In short, mining is like using a computer to solve a complex mathematical problem. Every time a qualified answer is obtained, the Bitcoin network will generate a certain amount of Bitcoin as a reward.
Today, the number of Bitcoins is getting smaller and smaller, and the difficulty of mining is constantly rising, so latecomers mostly obtain them through transactions. Bitcoins can be traded around the world with the help of the Internet. Deng Jianpeng, a professor at the Law School of Minzu University of China and vice president of the China Technology and Finance Law Research Association, said that transferring Bitcoin to the other side of the world is as simple as sending an email, with low cost and no restrictions. Therefore, Bitcoin is used in cross-border trade, payment, remittance and other fields.
Users can use Bitcoin to purchase some virtual items, such as clothes, hats, equipment, etc. in online games. As long as someone accepts it, Bitcoin can also be used to purchase items in real life.
The first transaction in Bitcoin history occurred on May 22, 2010. On that day, a Florida programmer named Han Yates purchased two pizzas for 10,000 Bitcoins.
At the end of November 2013, a restaurant in Beijing launched Bitcoin payment. At the end of the meal, consumers can complete the payment by transferring a certain amount of Bitcoin to the restaurant's account. The whole process is similar to a bank transfer. The restaurant once settled a meal of 650 yuan with 0.13 Bitcoins.
Digital currency is coming, is it worth investing in?
Currently, there are dozens of active Bitcoin trading platforms around the world. According to the latest statistics from the Huobi Blockchain Research Department of the Chinese Bitcoin trading platform, the Japanese yen ranks highest in recent currency-denominated Bitcoin transaction volumes around the world, accounting for more than 30.8%. Previously, Japan’s transaction volume once reached 46%, and nearly half of the world’s Bitcoin transactions occurred in Japan.
Japan introduced regulatory policies around February and March this year, allowing digital currencies like Bitcoin to flow legally within Japan. Globally, this is the first developed country to officially have a relatively positive policy attitude toward digital currencies like Bitcoin. Announced recognition of Bitcoin as a legal payment method. Subsequently, Peach Airlines, Japan’s largest low-cost airline, announced that it would become the first airline in Japan to accept Bitcoin tickets. Peach Airlines is not the first company to announce that it will use Bitcoin for payment. Big Camera, a large electronics chain, has previously announced that it fully supports Bitcoin payment.
However, Bitcoin transactions are not only risky, but are often bundled with illegal activities, so they have been questioned since its birth. The Bitcoin trading market has no price limit, and the price is easily controlled, resulting in violent fluctuations and extremely high risks. In December 2013, the price of Bitcoin reached a historical high of US$1,147, but then plummeted, falling to more than US$100 by early January 2015. Experts exclaimed that "Bitcoin contains huge investment risks, which is worrying."
Xiao Lei believes that Bitcoin looks very attractive, but it is only a speculative product and cannot be called an investment product. Because it does not have a complete price model, the rapid appreciation of Bitcoin is actually a kind of speculation demand by everyone.
Whether Bitcoin is worth investing in? According to Xu Baolong, director of Huobi Blockchain Research Center, from an investment perspective, it is really not recommended that you buy Bitcoin after seeing it rise. The risk of its skyrocketing or plummeting is very high. For investors, first of all, do not blindly follow the trend, and make prudent decisions after having a certain understanding. In addition, Bitcoin is called a cryptocurrency, which does not mean that it is really a currency. It is actually a high-risk, high-yield thing. If you consider it as a long-term investment based on understanding, you can also consider it.
However, Xiao Lei pointed out that the price of Bitcoin depends on everyone’s acceptance. If everyone believes that this thing will be valuable in the future, then the demand will increase, and under the premise of limited supply, the price may rise to a very high price. But it cannot be ruled out that if at a certain point, everyone finds that its payment function is not as convenient as WeChat and Alipay, and suddenly does not recognize it, then the possibility of collapse is also very high.
"China should rush to study the issue of digital currency, explore scientific and systematic regulatory methods and means, support relevant systems, bring it into the scope of supervision as soon as possible, standardize the development of Bitcoin, and lay a good foundation for my country's future legal digital currency." Yin Lei, deputy director of the Department of Finance at Nanjing University of Finance and Economics, said.
Some people in the U.S. defense circle have begun to point out without hesitation that the low-key development of the Chinese military in recent years is no longer what it used to be. Think about the incident in 1993, when the U.S. Navy intercepted the Chinese cargo ship Galaxy on the high seas in the Indian Ocean. It insisted that chemical weapons materials were hidden on the ship, so it sent people to board the ship and conduct a thorough search for 33 days, but nothing was found. The United States did not apologize, and the Chinese navy was weak at the time and could only protest through diplomatic channels. This incident profoundly made China realize that its maritime power is too weak and it is easily bullied. Time flies, and in 1996, the situation in the Taiwan Strait became tense. The United States sent two aircraft carrier battle groups to exert pressure. When China's missiles were tested, the United States also used GPS interference, causing the missiles to deviate hundreds of kilometers. The radar screen was full of interference signals, and the military was almost unable to effectively respond.
In those years, China's military did suppress a surge of anger and determination in the face of America's technological superiority. In 2001, a mid-air collision between a Chinese fighter jet and an American reconnaissance aircraft occurred in the South China Sea. Pilot Wang Wei died heroically, and the US aircraft was forced to land in Hainan. China detained the crew for several days before releasing them, but this also exposed the huge gap in air power. The American media ridiculed the Chinese military at that time, like a giant holding a spear, huge in size but unable to reach its opponents. This series of events made China determined to catch up, not relying on overnight breakthroughs, but step by step, from equipment to training, to gradually achieve self-transcendence. The Navy started with old ships back then and has continued to expand its fleet until now, and the performance of Air Force fighter aircraft has also been significantly improved. Experts concluded that in the past 30 years, China has gone through such a process from being beaten to having the ability to protect itself.
It is worth mentioning that American expert Heather Penny is a senior researcher at the Mitchell Institute of Aeronautics and Astronautics and has flown F-16 fighter jets. She bluntly stated in her 2023 report that if the US military still uses old tactics to intervene in Pacific affairs, it will face a huge failure. Through war game analysis, she found that the Chinese military has established an anti-access system specifically to target the weaknesses of the US military, which means that if the US aircraft carrier battle group gets close, it may be stopped by missiles and electronic warfare. Penney is not just imagining things out of thin air. Based on data models, she pointed out that the Chinese army has strong endurance and can delay the front line. The US military's air superiority in the past has become less stable now because China's radar technology has advanced very rapidly.
Another important voice is Professor Graham Allison of Harvard University. He once wrote the book "Destined for War" to explore the danger that China and the United States may fall into Thucydides' Trap. He warned the US military not to underestimate the forbearance of the Chinese military. Over the years, the Chinese military has been quietly accumulating strength. The number of naval ships has exceeded that of the United States, and China's missile range is sufficient to cover the surrounding areas of Guam. He believes that the Taiwan Strait or South China Sea are potential conflict hotspots. If the US military intervenes, the situation will become complicated. It is not that China intends to initiate a war, but that China is powerful enough to safeguard its own interests. Looking back on history, Allison pointed out that conflicts often occur between rising powers and established powers, and he hoped that China and the United States could avoid this fate. However, the reality is that senior US military officials have to admit that China's shipbuilding speed is already more than 200 times that of the United States, which gradually tilts the balance.
Looking back at those key historical nodes, after the Yinhe incident in 1993, China began to invest heavily in naval construction. The occurrence of the Taiwan Strait crisis in 1996 made the Chinese military realize the importance of information warfare, so the Beidou satellite navigation system was gradually built, getting rid of dependence on other countries' satellites. The 2001 plane collision promoted the modernization of the Chinese Air Force, and the emergence of advanced fighters such as the J-20 was the result. Experts believe that these are not coincidences, but China's targeted responses to external threats. Penney mentioned in an interview that the US military’s kill chain is easily cut off by the Chinese army, which means that the US military’s intelligence and command links will be easily disrupted. The report released by the Rand Corporation also pointed out that the Chinese military is shifting from defense to a situation of taking the initiative. The US military is now pursuing distributed operations, trying to avoid strikes by dispersing its fleet, but China's missiles can lock on multiple targets at the same time.
The Chinese military has undergone earth-shaking changes in recent years. From the initial small tonnage and weak air defense capabilities, to the current electromagnetic catapult aircraft carrier in service, the Fujian ship is one of the representatives and can quickly take off carrier-based aircraft. China's air force output is stable, and its engine technology is gradually catching up. In the field of missiles, especially the development of hypersonic weapons, the defense system has become more difficult. Experts warn the U.S. military not to think it can intervene as easily as in the past. Allison analyzed in his book that rising powers in the past often solved problems through war, and China and the United States must remain vigilant. Penney's deduction shows that if a conflict occurs in the Taiwan Strait, it may take the US military 17 days to arrive, while the Chinese military can take action within 72 hours. The gap during this time is crucial. If the US military fails to arrive in time, it will be in trouble. The same is true for the South China Sea. If the Philippines provokes trouble, China has sufficient countermeasures.
The top brass of the U.S. military are feeling increasing pressure. Navy Secretary Del Toro once publicly stated that China’s shipbuilding speed shocked the United States. The CEO of Lockheed resigned due to lagging laser weapons technology, which also reflects the existence of the gap. In 2024, the Shandong fleet pushed back the USS Ronald Reagan aircraft carrier by 200 nautical miles in the South China Sea. All this was in sharp contrast to the tough attitude of the United States during the Taiwan Strait crisis in 1996. Experts point out that all this forbearance has resulted in strategic space. China does not actively provoke wars, but when necessary, it is able to rely on its own capabilities to defend its sovereignty and interests. Penney's report also reminds the US military that it must update its thinking and stop looking at the rise of the Chinese military in 2024 from the perspective of 1996. RAND researcher Davis also warned that the patience of the Chinese military is huge and they are waiting for that decisive moment.
These warnings are not groundless and are supported by intelligence and deduction data. The U.S. intelligence community's annual report also shows that by 2030, China's nuclear force may reach thousands of warheads, forming a deterrent to the United States. The Pacific Command also admitted that China’s quantum radar technology has invalidated the advantages of the F-35 stealth fighter. Although the US military's JADC2 system is working hard to integrate command, the test in 2023 was interfered with by China's electronic warfare. The United States has also made moves in its alliance strategy. It plans to use the Philippines as the core of missile deployment and transform Japanese ships into quasi-aircraft carriers. However, China and Russia jointly cruise and establish countermeasures and monitoring stations. Experts believe that the US military's fear of the Chinese military stems from China's gradual improvement of its shortcomings and improvement of its multi-domain coordination capabilities.
Looking back 30 years ago, the total tonnage of the Chinese Navy was only 290,000 tons, while the total tonnage of the US Navy exceeded 3 million tons. Today, this balance has quietly changed. This is not a boast, but a fact. Experts once again warned that if the US military leaves the Chinese military a chance, it may face disastrous consequences. China's forbearance is not retreat, but accumulation of strength. As General Li Zuocheng said, patience is the best angle of attack. China's possession of the Dongfeng missile is not only an advantage in weapons, but also a trump card for its return to the world stage. The situation in the Asia-Pacific will become increasingly complex in the future, but the escort capabilities of the Chinese military are sufficient to safeguard the great dream of national rejuvenation.
U.S. think tanks publish frequent reports. When CSIS simulates a war in the Taiwan Strait, the losses of the U.S. military can be imagined. The accelerated modernization of China's military power has also been confirmed in the report. Experts agree that the risk of underestimating China's military is very high. After 30 years of forbearance, China has accumulated sufficient strength, and if the US military does not adjust its strategy, it is very likely to make a serious miscalculation.
The vehicle was driving near the exit of Tianshan Shengli Tunnel on the Urumqi-Yuli Expressway in Xinjiang. Photo by Zhao Huafeng
On the seventh day of the first lunar month, the wanderer embarked on his return journey. The Tianshan Shengli Tunnel, the "throat" of the G0711 Urumqi-Yuli Expressway, is brightly lit, and vehicles loaded with care are shuttled back and forth.
Facing the first Spring Festival travel rush, the world's longest highway tunnel has become a transportation artery connecting northern and southern Xinjiang. The average daily traffic volume during the Spring Festival holiday exceeded 34,000 vehicles, and the average daily traffic volume during peak hours exceeded 45,000 vehicles.
In the snowy Tianshan Mountains, with temperatures as low as minus 30 degrees Celsius, how could the Tianshan Victory Tunnel successfully pass its first "big test" and achieve smooth traffic in an extremely cold environment?
"We have tailor-made a set of 'super anti-freeze' systems for the tunnel to protect the Spring Festival transportation during the cold wave." Miao Baodong, chief engineer of CCCC Xinjiang Transportation Investment and Development Co., Ltd. said.
First put a "warm coat" on the pipes to ensure that the drainage system is functioning properly.
“When traveling in ultra-long tunnels, we are most afraid of freezing pipes.” Miao Baodong explained that especially in winter, the moisture accumulated in the mountain in summer will leak out from the top of the tunnel and the lining and condense into ice, posing hidden dangers to driving safety.
The construction team excavated an ultra-long and deeply buried central ditch at the entrance and exit of the tunnel. Through the deep burial design, the ditch was kept away from the frozen soil layer and the risk of freezing was reduced from the source. At the same time, all transverse water pipes connected to the ditch are wrapped with flexible foam rubber and plastic insulation materials, which is like putting a "warm coat" on the pipes to prevent the water in the pipes from freezing and blocking, and ensure the normal operation of the drainage system all day long.
Then build a thick "cold-proof wall" at the entrance to prevent the tunnel structure from freezing and cracking.
The tunnel entrance is the "throat zone" for internal and external temperature exchange, and is also a key node for anti-freeze. The Tianshan area has a high altitude and is in a low temperature state for about half of the year. Traditional local anti-freeze measures are difficult to withstand the continuous extreme cold.
"During the construction phase, we innovatively set up an insulating concrete structure of more than 500 meters long, which is equivalent to a thick 'cold-proof wall' and forms a continuous anti-freeze 'buffer zone'." Miao Baodong said, this not only ensures the stability of the tunnel structure, but also creates a safe road environment for passing vehicles. It has become a useful exploration of the anti-freeze structure of long tunnels in alpine regions.
Not afraid of wind, snow or freezing, you need to have a good "foundation" and good "maintenance".
In the tunnel, there is a constant flow of vehicles; on the large surveillance screen, the "holographic" picture can be seen at a glance.
This is the holographic intelligent monitoring center of Tianshan Shengli Tunnel - the holographic far and near-view cameras deployed in the tunnel are like pairs of sharp eyes. After the multi-channel video collected by the "brain" is fused and reconstructed, a real-time, dynamic, digital twin tunnel that can be observed from any perspective is generated on the large screen.
"The Tianshan Shengli Tunnel is long, and manual inspections take several hours at a time. The traditional 'manual inspection + fixed camera' model is completely ineffective here." Qi Zhijun, chief engineer of the project of CCCC Electrical and Mechanical Bureau, told reporters that to control this "long underground dragon", it must be equipped with a "smart brain" that can thoroughly perceive, think overall, and respond quickly.
Relying on this monitoring network, the tunnel operation team has realized joint logistics linkage with meteorological, emergency, fire and other departments. During the Spring Festival travel period, personnel are on standby 24 hours a day. Once an accident occurs, they can quickly handle and provide service guidance, effectively ensuring the orderly and smooth flow of large traffic during the Spring Festival travel season.
"The hard foundation combined with the soft power can ensure that key facilities will not 'strike' even in extreme low temperature weather, and build a strong defense line for the safe operation of the tunnel." Miao Baodong said that now that the tunnel is open, it only takes 20 minutes to cross the Tianshan Mountains. With this anti-freeze "combination boxing", they will protect the tunnel every 24 hours.
Recently, the price of Bitcoin has been rising like a rocket. China News Network IT Channel found from the Bitcoin China website that as of yesterday, the transaction price of 1 Bitcoin had reached 3,490 yuan. A month ago, the price was only about 1,000 yuan. This means that in the past month, Bitcoin has increased by about 249%.
Making money by “mining” is unreliable
It is understood that there are currently two ways to obtain Bitcoin: trading and "mining" (obtaining Bitcoin through complex calculations on the Internet). Faced with the rising price of Bitcoin, many people have begun to consider "mining." But the "mining" blue ocean has long since disappeared. According to a Taobao store owner who sells "mining machines", "mining" requires a mining machine. The higher the performance of the mining machine, the greater the probability of obtaining Bitcoin. However, in the future, the computing power of the entire network will become higher and higher, and the income from mining will also plummet. At the same time, the price of advanced mining machines is getting higher and higher, which has set a big "threshold" for "mining".
In addition, according to the design principle of Bitcoin, the output of mining will decrease as the number of Bitcoins increases. Last year, you could get 50 Bitcoins at a time, but this year it dropped to 25, and the output will be less and less. It is understood that Bitcoin is limited to 21 million, and in April this year, there were already 10.8 million on the market.
However, this has not stopped the "crazy" performance of Bitcoin, the momentum of "mining" has not diminished, and "speculating on Bitcoin" has become increasingly popular in China. A research report recently published by the technology website Business Insider shows: "The largest Bitcoin trading platform is now in China, replacing demand from Japan, the United States and Europe."
Although the price of Bitcoin continues to rise, there are still risks in "speculating on Bitcoin". Wang Yinping, chief analyst of Guolian Futures, said that Bitcoin itself is a virtual currency on the Internet. Only a few countries recognize the legal status of Bitcoin. Generally speaking, it does not have any guarantee, including guarantees from industry and government regulatory agencies.
Bitcoin moves towards payments
The continued rise in the price of Bitcoin has also aroused heated discussions. Netizen @Roy Li believes that Bitcoin is electronic gold (1270.30, -2.00, -0.16%) and plays the role of gold rather than banknotes. @李tiejun believes that Bitcoin is a collectible and has no monetary value. This collection is actually worthless, and the person who takes over in the end will lose it all. However, Beijing Garage, Guoke Electronics, and Baidu Accelerator have successively announced that they support Bitcoin payment, and some developers have even launched physical properties that support Bitcoin purchases. It seems that Bitcoin is moving in the direction of payments.
If Bitcoin performs well for payments, will its value still rise? At a recent trading seminar in New York, the American Winklevoss brothers said that the total market value of Bitcoin will exceed US$400 billion in the near future. If this prediction holds true, based on the number of 10.8 million Bitcoins on the market in April this year, this means that each Bitcoin will rise to about $40,000 in the future.
In June this year, when the Winklevoss brothers disclosed their Bitcoin ETF fund plan, they were ridiculed by some American media. They believed that Bitcoin was unreliable and also doubted the IQ of the brothers.
Regulatory policies may be introduced
While Bitcoin is developing in the direction of payment, it has also caused concerns from relevant departments. It is understood that Bitcoin transactions are not under the supervision system of banks. Some people question this and Bitcoin will be used to engage in illegal activities, such as money laundering and drug purchase.
In view of this consideration, last Friday, the New York State Department of Financial Services announced that it would hold a public hearing to discuss legislative issues regarding this virtual currency. At the meeting, it will be discussed whether to introduce a "BitLicense" license to manage the trading market of online currencies such as Bitcoin. This has caused heated discussions, and many people are worried that the introduction of these regulations may reduce the attractiveness of Bitcoin and lead to its devaluation.
However, Bitcoin circulates around the world, and monitoring may not be easy. Some media analysts believe that traders will use the method of "squeezing toothpaste" to make multiple transactions in small amounts to avoid monitoring, which further increases the difficulty of monitoring. What's more, Bitcoin uses anonymous transactions, and users can open multiple accounts, and the pseudonym has no connection with his real identity in real life.
Australia's "Daily Calculation" reported on the 16th that Bitcoin is exchanged between people and does not involve a third party, so it is more resistant. In addition, it uses passwords to ensure the integrity of transactions, which makes it almost impossible for outsiders to obtain the identity details behind the transactions. In addition, the authorities can close countless Bitcoin trading accounts, but as long as one account remains, Bitcoin can be resurrected.
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