Level 4 Reading 6B

Reading 6B

阅读6B

THE RISE OF VIRTUAL MONEY lt doesn't exist in any physical form, yet is increasingly used by people worldwide. ls virtual currency the money of the future? What Is a Virtual Currency? According to the European Banking Authority, a virtual currency is "a digital representation of value that is neither issued by a central bank or a public authority, nor necessarily attached to a fiat currency, but is accepted [as] a means of payment and can be transferred, stored, or traded electronically." There are many types of virtual currency, but the best known is probably Bitcoin. In online articles, or in newspapers or magazines, you may have seen pictures of gold or silver coins marked with the Bitcoin symbol(₿ ) However—since Bitcoins exist only as digital constructs—these are merely representations. Bitcoin is a type of digital money known as a "cryptocurrency" ; that is, it uses cryptography—secure coding—to verify ownership of the money. The money can be sent electronically from one user to another anywhere in the world. Unlike traditional currencies, Bitcoin is not controlled by a central bank or by a government agency. And unlike credit cards, the Bitcoin network is not run by a company. There is no middleman between the parties that are transferring money. It is operated by a global network of computers called a blockchain network, which records every Bitcoin transaction in the world. How Did Bitcoin Begin? The first reference to Bitcoin appeared in 2008, in a paper by a writer supposedly named Satoshi Nakamoto. However, the name turned out to be a pseudonym for a person or group who preferred to remain anonymous. A year later, Bitcoin was released as open-source software.

虚拟货币的兴起 它不以任何物理形式存在，但越来越多地被世界各地的人们使用。 虚拟货币是未来的货币吗？ 什么是虚拟货币？ 根据欧洲银行管理局的说法，虚拟货币是“价值的数字表示” 它既不是由中央银行或公共机构发行的，也不一定附属于法定货币， 但被接受为一种支付方式，可以通过电子方式进行转移、存储或交易。" 虚拟货币有很多种，但最著名的可能是比特币。 在在线文章、报纸或杂志中， 你可能见过标有比特币符号（₿）的金币或银币的图片 然而，由于比特币仅作为数字结构存在，这些只是表示。 比特币是一种被称为“加密货币”的数字货币； 也就是说，它使用密码学——安全编码——来验证资金的所有权。 这些钱可以通过电子方式从世界任何地方的一个用户发送到另一个用户。 与传统货币不同，比特币不受中央银行或政府机构的控制。 与信用卡不同，比特币网络不是由公司运营的。 转账双方之间没有中间人。 它由一个称为区块链网络的全球计算机网络运营， 它记录了世界上的每一笔比特币交易。 比特币是如何开始的？ 第一次提到比特币是在2008年，一位据称名叫中本聪的作家在一篇论文中。 然而，这个名字原来是一个喜欢保持匿名的个人或团体的化名。 一年后，比特币作为开源软件发布。

Bitcoin was not the first attempt at a cryptocurrency; others had existed in one form or another for nearly 50 years, but without much success. In a short space of time, though, Bitcoin became the first cryptocurrency to be widely traded internationally. The first Bitcoins were mined in January 2009; within 200 days, one million coins had been mined. By 2019, this had risen to over 17 million Bitcoins—worth a total of U.S. $65 billion— and more than 300,000 new transactions were taking place every day. In its early days, Bitcoin was known for its link with illegal drugs, such as those bought and sold on Silk Road, an online black market set up in 2011. Silk Road connected customers and sellers on the Internet using a network that concealed a users location and identity—and it used Bitcoin for payments. Silk Road was shut down by the FBI in 2013. According to some experts, the shutdown gave Bitcoin a chance to gain some much-needed legitimacy. BitPay CEO Stephen Pair insisted that Silk Road's association would not prove fatal to Bitcoin. He said that the shutdown "shows that just because you use Bitcoin doesn't mean you can evade law enforcement." How Does Bitcoin Work? Each Bitcoin can be divided out to eight decimal places. That means you can send someone a minimum of 0.00000001 Bitcoins. This smallest fraction of a Bitcoin—the penny of the Bitcoin world—is called a "Satoshi." Like gold or other precious metals used as money, Bitcoins are scarce. But their scarcity is not natural or accidental. New Bitcoins are added only by being "mined." Computer users on the blockchain network race to solve increasingly complicated mathematical problems. The first to have a verified solution receives a payment. It's like the high-tech equivalent of a gold rush. The mined Bitcoin can then be traded using special computer software. A useful analogy: Think of the blockchain network as an engine. Engines can be used to power all types of vehicles: cars, boats, aircraft. Bitcoin is a vehicle that uses that engine. Because it was the first major virtual currency to use blockchain, you could think of Bitcoin as an early model vehicle, like a Model T Ford. More sophisticated uses of this engine may occur in the future. What Are the Benefits of Using a Virtual Currency Like Bitcoin? In most cases, financial transactions involve exchange fees, taxes, and payment delays to guard against fraud. Virtual transactions, however, are speedy and cheap—and are settled immediately. And unlike a credit card exchange, where credit card numbers and security information are handed over completely for any transaction, a Bitcoin transfer is authorized only to pay a specific amount. Virtual currencies also make it possible to make a digital payment without needing PayPal or a credit card. This is particularly useful in many parts of Africa, Latin America, and South Asia. Immigrants to developed countries may find it a convenient way to send funds back home to their families. Bitcoin supporter Jonathan Mohan says, "The vast majority of [people on] the planet don't even own a bank account... Just as in Africa, [people] went directly to cell phones. In these developing nations, you're not going to see them start getting bank accounts. You're going to see them just going straight to Bitcoins." What Are the Drawbacks of Bitcoin? The most obvious drawback is a lack of stability in the value of the currency. Bitcoin's independence makes it more stable in principle than traditional currencies. In reality, though, its value has fluctuated wildly over the time it has been in existence. In 2012, the price of a Bitcoin was about U.S. $12; by December 2015, it had reached U.S. $400. Two years later, it reached a peak of almost U.S. $20,000, but then lost almost 80 percent of that value within a year. Those are some wild swings. So it is worth thinking twice before putting all or a substantial amount of your assets into a virtual currency like Bitcoin. The rule of investing in virtual currency is the same as investing in stocks: Never invest more than you can afford to lose.

比特币并不是加密货币的第一次尝试； 其他一些以这样或那样的形式存在了近50年，但没有取得多大成功。 然而，在很短的时间内，比特币成为第一个在国际上广泛交易的加密货币。 第一批比特币于2009年1月开采；在200天内，已经开采了100万枚硬币。 到2019年，这一数字已增至1700多万比特币，总价值达650亿美元-- 每天都有30多万笔新交易发生。 在早期，比特币以与非法毒品的联系而闻名， 比如2011年成立的在线黑市“丝绸之路”上的买卖。 丝绸之路将互联网上的客户和卖家联系起来 使用隐藏用户位置和身份的网络，并使用比特币进行支付。 丝绸之路于2013年被联邦调查局关闭。 据一些专家称，政府关门让比特币有机会获得一些急需的合法性。 BitPay首席执行官Stephen Pair坚称，丝绸之路的关联不会对比特币造成致命影响。 他说，政府关门“表明，仅仅因为你使用比特币并不意味着你可以逃避执法。” 比特币是如何工作的？ 每个比特币可以分为八位小数。 这意味着你可以向某人发送至少0.00000001个比特币。 比特币的最小部分——比特币世界的一分钱——被称为“中本聪” 像黄金或其他用作货币的贵金属一样，比特币也很稀缺。 但它们的稀缺并非自然或偶然。 新的比特币只能通过“挖矿”来添加 区块链网络上的计算机用户竞相解决日益复杂的数学问题。 第一个拥有经过验证的解决方案的人会收到付款。 这就像一场高科技淘金热。 然后，开采的比特币可以使用特殊的计算机软件进行交易。 一个有用的类比：将区块链网络视为一个引擎。 发动机可用于为所有类型的车辆提供动力：汽车、船只、飞机。 比特币是一种使用这种引擎的工具。 因为它是第一个使用区块链的主要虚拟货币， 你可以把比特币看作是一种早期的车型，比如福特T型车。 未来可能会出现这种发动机的更复杂的用途。 使用像比特币这样的虚拟货币有什么好处？ 在大多数情况下，金融交易涉及外汇手续费、税款和付款延迟，以防止欺诈。 然而，虚拟交易既快速又便宜，而且可以立即结算。 与信用卡交易所不同，信用卡号码和安全信息在任何交易中都是完全移交的， 比特币转账仅被授权支付特定金额。 虚拟货币还可以在不需要PayPal或信用卡的情况下进行数字支付。 这在非洲、拉丁美洲和南亚的许多地区特别有用。 发达国家的移民可能会发现这是一种方便的方式，可以将资金汇回家中给家人。 比特币支持者乔纳森·莫汉说：“地球上绝大多数人甚至没有银行账户。。。 就像在非洲一样，人们直接使用手机。 在这些发展中国家，你不会看到他们开始拥有银行账户。 你会看到他们直接转向比特币。" 比特币的缺点是什么？ 最明显的缺点是货币价值缺乏稳定性。 比特币的独立性使其原则上比传统货币更稳定。 然而，事实上，它的价值在存在的时间里波动很大。 2012年，比特币的价格约为12美元；到2015年12月，这一数字已达到400美元。 两年后，它达到了近2万美元的峰值， 但随后在一年内损失了近80%的价值。 那些是一些疯狂的摇摆。 因此，在将全部或大量资产投入比特币等虚拟货币之前，值得三思而后行。 投资虚拟货币的规则与投资股票相同： 永远不要投资超过你能承受的损失。

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