Uqoqosho lweBitcoin

Ukuze uqonde iBitcoin, kufuneka uqonde ingxaki eyisombululayo
Wences Cesares

Inkqubo yehlabathi yezenzo zoqoqosho iyakhiwa malunga nenethiwekhi yeBitcoin kunye nokwamkelwa kwayo njengendawo yokugcina ixabiso kunye nendlela yokutshintshiselana. Le nkqubo yenziwe ziimarike zokugcina, iinkonzo zokuhlawula, izixhobo kunye neenkonzo ngaphakathi kumashishini emigodi kunye namandla, kwakunye neenkonzo zezezimali ezibanzi ezifana norhwebo kunye ne-derivatives. Abathathi-nxaxheba kwezi marike baquka abantu ngabanye kunye nemibutho emikhulu, bonke badibana kwinethiwekhi enye eyakhelwe kwiinkqubo zesoftware evulekileyo.

Entliziyweni yale nkqubo kukho i-ledger esasazeke kwihlabathi lonke, enokuhlolwa esidlangalaleni, egcina ngokucacileyo irekhodi lotshintshiselwano ngalunye. Uhlobo olusasazekileyo nolubonakalayo lwaloo ledger kunye nedatha yayo esisiseko luvumela uhlalutyo loqoqosho ngexesha langempela kwinqanaba lehlabathi ngabantu ngabanye kunye nemibutho ngaphandle kokuxhomekeka kubalamli. Ngenxa yoko, ngokungafaniyo nenkqubo yemali yesintu, uninzi lwemisebenzi yangaphakathi yeBitcoin iyabonakala ngokupheleleyo.

Irejista yeentengiselwano zeBitcoin (ekwabizwa ngokuba yi-timechain okanye i-blockchain) yirekhodi efikeleleka esidlangalaleni, enexesha elibekiweyo, yazo zonke iintengiselwano ezisemthethweni ezake zenzeka kwinethiwekhi. Kwinkqubo yemali yakudala, iintengiselwano zangaphakathi zibonakala kuphela kubathathi-nxaxheba abagunyazisiweyo, njengamabhanki, abalawuli, okanye abasebenzi bedatha abafana ne-SWIFT, BACS okanye SEPA. Ukufikelela kwidatha yeentlawulo kwiinkqubo zemveli kunokuthintelwa kakhulu kwaye kubize kakhulu.

Ngokwahlukileyo, kwinethiwekhi yeBitcoin, nabani na onoqhagamshelo lwe-intanethi angajonga yonke intengiselwano ukusuka kwixabiso elikhulu ukuya kwiSatoshi enye. Abathathi-nxaxheba banokulandelela inani elipheleleyo lebitcoin ngexesha langempela, bajonge imisebenzi yeedilesi kunye neewallet, kwaye babone imivuzo yabadobi (miners) kunye nendlela yokuhlawula imali yezintengiselwano. Nangona imisebenzi ebonakalayo kwirejista inxulunyaniswa needilesi ze-public key hayi kwizazisi zabantu, kunokwenzeka ukuqokelela iiseti ezinkulu zedatha malunga nokuziphatha kokuchitha imali, okuvumela wonke umntu ukuba aqokelele kwaye aphande imisebenzi yezoqoqosho ngexesha langempela. Njengoko inethiwekhi ikhula kwaye yamkelwa ngakumbi njengomthombo wenyaniso yezoqoqosho, sinokubona ukuncipha kokuxhomekeka kumaziko karhulumente kunye nababoneleli besithathu kwimveliso yohlalutyo lwedatha kunye neengxelo zokuziphatha kokuchitha imali.

8.1.1 Iinodi kunye nabahloli beBlock

Nabani na ofuna ukuqinisekisa ngokuzimeleyo irejista yeBitcoin kunye nokufikelela kwidatha yayo kufuneka asebenzise i-node epheleleyo. I-node epheleleyo ichazwa rhoqo njengendlela esisiseko yokuthatha inxaxheba kunye nokuqinisekisa uqoqosho lweBitcoin. Ifumaneka kwihlabathi lonke njengesoftware evulekileyo (open-source) ethi, xa isetyenziswa, ikhuphele kwaye iqinisekise yonke irejista yeBitcoin ukusuka kwi-'Genesis Block', epapashwe ngoJanuwari 2009, ukuya kuthi ga namhlanje. Ikwaxhasa ukhuseleko lwenethiwekhi yeBitcoin ngokunceda ukuqinisekisa iintengiselwano ezintsha ezongezwa kwirejista. Ngokufikelela kwirejista yeBitcoin ngale ndlela, i-node epheleleyo isebenza njengomthombo wenyaniso kubaphandi nabahloli benethiwekhi. Kwaye, kubasebenzisi beBitcoin, i-node epheleleyo isebenza njengendlela 'yokuzimela' yokufikelela kulwazi lweentengiselwano zoqoqosho lweBitcoin kuba iphucula ubumfihlo nokhuseleko ngokususa ukuxhomekeka kwiinkonzo zomntu wesithathu.

Ngelixa iinodi ezipheleleyo zikhuphela idatha ecocekileyo, abahloli beblock abafana ne-mempool.space okanye i-blockstream.info banikezela ujongano olubonakalayo lokukhangela nokutolika imisebenzi kwirejista. Umhloli weblock uvumela ukuba iintengiselwano nganye zilandelwe kwaye ibhalansi kunye nembali yeewallet zibonwe. Ikwabonisa imilinganiselo yemisebenzi yabadobi (miners) efana nemivuzo yeeblock kunye nedatha yemali yeentengiselwano.

Zonke kunye, iinodi ezipheleleyo kunye nabahloli beblock zizixhobo ezenza ukuba ukucaca kwenethiwekhi yeBitcoin kusebenziseke.

8.1.2 Umsebenzi: Ukuhlola iRejista yeBitcoin

1. Vula mempool.space kwaye uhlolisise iphepha lasekhaya.
   • Yintoni ukuphakama kwebhloko yakutshanje?
   • Yimalini imali yeentlawulo zangoku (Ezisezantsi, Ezisemaphakathi, Ezisezantsi kakhulu)?
   • Zingaphi iintengiselwano ezilinde kwi-mempool zebhloko elandelayo?
2. Fikelela kwibhloko yakutshanje kwirejista.
   • Zingaphi iintengiselwano ezifakiweyo?
   • Chaza igama lomdobi (miner) webhloko?
   • Yayiyintoni imivuzo yebhloko?
3. Fikelela kwintengiselwano kwibhloko.
   • Zingaphi i-inputs kunye ne-outputs ezikwiintengiselwano?
   • Yintoni ixabiso lentengiselwano kwiBTC nakwiUSD?

Xoxa umahluko phakathi kwendlela imali ehamba ngayo kwinkqubo yakudala kunye nendlela ishishini okanye urhulumente angayisebenzisa ngayo le ndlela yokucaca.

Ngenxa yokuba ukucaca kweBitcoin akufani neenkqubo zemali zemveli — apho uninzi lokuhamba kwemali lwenziwa ngasemva kweengcango zeenkampani — oku kuzisa intsimi etyebileyo ye-on-chain analytics, apho idatha yenethiwekhi isetyenziswa njengelensi yokuqonda indlela abasebenzisi abaziphatha ngayo, ukuhamba kwemali kunye neendlela zexesha elide. Ezi metrics zinokunceda ukuphendula imibuzo ethile, njengokuba inethiwekhi isetyenziswa kangakanani, ukuba iinkozo zigcinwa okanye zithengiswa, kunye nokuba inethiwekhi ikhuselekile ngakumbi na.

Ukuqonda ezi metrics kuluncedo hayi kuphela kubasebenzisi beBitcoin, kodwa nakubaphandi okanye abenzi bomgaqo-nkqubo abafuna ukuqonda le nkqubo yemali icacileyo ngokukhethekileyo.

Icandelo eli liqulathe ezinye zeemetrics ezisetyenziswa rhoqo ekuhlalutyeni umsebenzi weBitcoin ezihlanganiswe kwiindidi ezincinane. Ayiloluhlu olupheleleyo. Ndwendwela www.bitcoinmagazinepro.com/charts ukuze ufumane uluhlu olupheleleyo kunye neenkcazelo.

8.2.1 Iimetrics Zedilesi

Iimetrics zedilesi ziluncedo ukujonga ngokuhamba kwexesha njengoko zibonisa inqanaba lomsebenzi kwinethiwekhi yeBitcoin. Umzekelo, njengoko iBitcoin yamkelwa ngakumbi, inani leedilesi ezisebenzayo liyanda. Singakuhlalutya oku ngakumbi ngokubala inani leedilesi ezigcina ubuncinane besixa esithile seBitcoin, umzekelo 0.1 BTC, ngexesha elithile, njengonyaka omnye. Nangona oku kusinika umbono wokwamkelwa kweBitcoin ngokuhamba kwexesha, akuphelelanga kuko kuba umntu omnye anganokuba neendilesi ezininzi zeBitcoin. Ngokuchaseneyo, iindawo zokutshintshiselana okanye ii-ETF zinokubonakala njengezinto ezinye xa zigcina imali yabantu abaninzi.

Ngokuthelekisa iidilesi ngexabiso langoku lemarike leBTC kunokwenzeka ukubona ipesenti iyonke yeedilesi zeBitcoin ezikwinzuzo. Oku kusivumela ukuba silandele imvakalelo yentengiso njengoko sibona ukuba yeyiphi inxalenye yentengiso egcina iBTC kwinzuzo okanye ilahleko.

Umzekelo, i-Ipesenti Yengeniso Engazange Iqatshelwe itshathi engezantsi ibonisa inxalenye yeedilesi zonke kwiledger ezinenzuzo engazange iqatshelwe ebalwa ngeedola zaseMelika. Qaphela ukuba, kuba itshathi engezantsi ithathwe kufutshane nexabiso eliphezulu leBitcoin, ipesenti yeedilesi ezibonisa inzuzo engazange iqatshelwe isondele kwikhulu ekhulwini. Singabona kwakhona ukuba amaxesha amade ePesenti Yengeniso Engazange Iqatshelwe aphantsi komphambukeli omnye ukusuka kwixabiso eliphakathi awaqhelekanga. Ngoko ke, ukuhla ngaphantsi kwalo mgca kunokubonisa ithuba elilungileyo kubathengi.

8.2.2 Iimpawu Ze-On-Chain

Iimpawu ze-on-chain ziluncedo kuba zinika umbono kwindlela inethiwekhi iziphatha ngayo, ngaphaya koko okunokuboniswa lixabiso kunye neemetrics zedilesi kuphela. Zinceda abahlalutyi baqonde izenzo kunye nemvakalelo yeentlobo ezahlukeneyo zabathathi-nxaxheba, njengabagcini bexesha elide xa kuthelekiswa nabathengisi bexesha elifutshane ngokulandela indlela iinkozo ezigcinwa ngayo, zihanjiswa ngayo, okanye zixabiswa ngayo ngokuhamba kwexesha. Ezi mpawu zisebenzisa ukucaca kweledger ukubonisa iindlela zemarike ezifihlakeleyo ezifana nokuqokelelwa, ukusasazwa, okanye nokuzithemba kwabatyali-mali. Oku kubenza baluncedo ngakumbi ekuchongeni iindlela ezisisiseko, ekuvavanyeni ukuba imarike ishushu kakhulu okanye ixabise kancinci, nasekulindeleni iindawo zokujika kumjikelo wemarike.

Umzekelo, ngokuhlalutya ixabiso leBTC egcinwe ukusukela oko yagqibela ukuthengiswa, sinokufumanisa ukuba imarike ikwisimo esinzima okanye hayi (njengokuba kungaba njalo ngexesha elisezantsi lomjikelo omkhulu). Le metric yaziwa njenge-Ixabiso Eliqatshelweyo kwaye isinika 'ixabiso eliphakathi lokuthenga' leBTC yonke ekukhutshweni. Ukuba ixabiso lemarike lehla lingaphantsi kweXabiso Eliqatshelweyo, oku kubonisa ukuba uninzi lweedilesi zigcina ilahleko ephepheni.

Ngokwahlula idatha yeledger ibe yimigca yeminyaka, singabonisa indlela iBTC ehamba ngayo phakathi kweedilesi ngokuhamba kwexesha, nto leyo edala imijelo efana namaza kwitshathi eyaziwa njenge-HODL waves. 

Amaza eHODL abonisa ukuba abagcini bexesha elide, abaphakathi, nabafutshane benza ntoni ngeBTC yabo. Umzekelo, kwitshathi engentla, abagcini bexesha elifutshane baboniswa ngombala obomvu kunye neorenji kwaye sibona ukwanda komsebenzi njengoko eli qela likhawuleza ukuthenga kufutshane neephezulu zentengiso. Kwelinye icala, sibona ukuba abagcini bexesha elide kakhulu (ngombala oluhlaza okwesibhakabhaka nomfusa) bonyusa isabelo sabo sonke kwinethiwekhi, nto leyo ebonisa ukuzithemba okuphezulu kula maqela. Itshathi ayigqibelelanga kuba ezinye iinkozo zinokuhamba zisuka kwiidilesi ezindala ziye kwezintsha phantsi kolawulo lomsebenzisi omnye. Nangona kunjalo, inika umbono onomdla wokuzithemba kwabagcini bexesha elide.

Enye indlela yokuhlalutya 'imali ekrelekrele' yabagcini bexesha elide kukujonga Iintsuku ZeeNkozo Ezitshatyalalisiweyo (CDD). Ingcamango ye 'Iintsuku ZeeNkozo' yiphindaphindo lenani leBTC liphindwe ziintsuku ezidlulileyo ukusukela oko iinkozo zagqibela ukuhamba. Umzekelo, i-5 BTC engazange ihambe iintsuku ezili-100 ifumene iintsuku zeenkozo ezingama-500 kwaye i-10 BTC engazange ihambe iintsuku ezili-10 ifumene iintsuku zeenkozo ezili-100. Ngale ndlela, sinika ubunzima obongezelelweyo kwiinkozo ezigcinwe ixesha elide. Xa ezo nkozo zihanjiswa ezo ntsuku zee nkozo 'zitshatyalaliswa'. Le metric ibonisa ukwanda kweCDD ngexesha lokuhamba okukhulu kwamaxabiso, nto leyo inika abahlalutyi indlela yokwahlula umsebenzi oqhelekileyo wemarike kwiinguqu ezibalulekileyo kwimvakalelo yabagcini bexesha elide.

Enye imetric enokunceda ekuchongeni ukuba imarike ixabisa kancinci okanye kakhulu iBTC yiMarket-Value to Realised Value okanye MVRV. Ibalwa lula njengeyona ratio yeMarket Value (inani leBTC ekukhutshweni liphindwe ngexabiso lemarike) yahlulwe ngeRealised Value (isixa seBTC yonke ukusukela zagqibela ukuhamba). I-MVRV ephezulu ibonisa ukuba iinkozo ezininzi zikwinzuzo (ihlala ibonakala kufutshane neephezulu zentengiso) kwaye i-MVRV ephantsi ibonisa ukuba iinkozo ezininzi zigcinwa kwilahleko (ibonakala kufutshane neezantsi zentengiso).

8.2.3 Iimetrics Zokumba

Iimetrics zokumba ziluncedo ekuqondeni ukhuseleko, iz incentives zoqoqosho kunye nempilo iyonke yenethiwekhi yeBitcoin. Iimetrics ezifana nehashrate, ingeniso yabavukuzi, ubunzima, kunye neefizi zibonisa ukuba zingakanani amandla ekhompyutha akhusele i-blockchain kunye nokuba abavukuzi bahlawulwa kakuhle kangakanani ngomsebenzi wabo.

I-Hashrate yenethiwekhi yeBitcoin mhlawumbi yeyona metric ixhaphakileyo ekubhekiswa kuyo xa kuthethwa ngempilo yenethiwekhi kunye namandla okhuseleko. Kuba inkqubo yokumba ikhusele inethiwekhi kwaye iqinisekisa ukuba iintengiselwano ezikwiledger zivumelekile, kokukhona kukho amandla ekhompyutha (okanye hashing), kokukhona kunzima kumhlaseli onobubi ukoyisa nokuhlasela inethiwekhi.

Itshathi engentla ibonisa ukuba, ngoMeyi 2025, amandla ekhompyutha iyonke yenethiwekhi imi malunga ne-900 TeraHash/s (900 Trillion yokubala 'hash' kwe-cryptographic ngomzuzwana). Ukuba i-hashrate iyanda, ibonisa ukuba inethiwekhi ikhuselekile ngakumbi, nto leyo ethembisayo kubasebenzisi.

I-Puell Multiple (eyenziwe nguDavid Puell) ijonga umjikelo wemarike ukusuka kwindawo yabavukuzi kunye nengeniso yabo. Le metric ibalwa ngokwahlula inani leBTC elikhutshwayo yonke imihla (nge-USD) nge-avareji yokuhamba kweentsuku ezingama-365 yexabiso lokukhutshwa kwemihla ngemihla. Le metric inceda ekuchongeni amaxesha oxinzelelo okanye ukuphumla kwabavukuzi. Kwimbali, i-multiple engaphezulu kwe-3 iye yalandela ukuhla kwexabiso lemarike leBTC, kuba ibonisa ukuba abavukuzi benza inzuzo enkulu. Ixabiso elingaphantsi kwe-0.5 libonisa uxinzelelo kwaye kwimbali libonise ezantsi zexabiso leBTC.

Abantu abaninzi bakholelwa ukuba ukungabikho kombuso kuthetha ukulahlekelwa lulawulo. Ayisiyonyaniso leyo. Unokuphucula ulawulo ukuba ujonga ulawulo njengolawulo lweziganeko hayi abantu. Xa kunjalo, kokukhona unabantunabantu abaninzi abalawula iziganeko - kokukhona unabantunabantu abaninzi abakhathalela ukulawula iziganeko, kokukhona unabantunabantu abaninzi abasebenza ngokuzimisela ukwenza iziganeko ezilungileyo.
Sipho L. Creech

Ikamva leemetriki ezisekwi-chain ekwenzeni idatha yezoqoqosho-mali libambe ithemba elikhulu, ngakumbi njengoko uqoqosho lweBitcoin luqhubeka nokukhula ngobukhulu nangokubaluleka.

Ngokungafaniyo neziphumo zezoqoqosho zemveli ezixhomekeke kwiingxelo ezilibazisekileyo, ezisekwiimibuzo, okanye ezingacacanga, idatha esekwi-chain inika iirekhodi zexesha langempela, ezicacileyo nezingenakuguqulwa zokudluliselwa kwealthu. Njengoko iBitcoin isiya idityaniswa ngakumbi kurhwebo lwehlabathi, umthamo wotshintshiselwano oluse-chain, umsebenzi wabasebenzisi, kunye nentsebenziswano yenethiwekhi kungasebenza njengemiqondiso yexesha langempela yokuchitha kwabathengi, ukuthumela imali ekhaya kunye nokuhamba kwemali.

Ubume obuvulekileyo belidger yeBitcoin buthetha ukuba nabani na angayisebenzisa idatha yayo ukuhlanganisa nokunika ingxelo ngeendlela zoqoqosho-mali okanye ukwahluka ngaphandle kokuxhomekeka kwiingxelo ezivela kwimithombo karhulumente egxile embusweni okanye 'ezisemthethweni'. Ngelixa iimetriki ezichazwe kweli candelo sele zisebenza njengemiqondiso ephambili yemvakalelo yabatyali-mali kunye nomnqweno womngcipheko, kwixesha elizayo zingasebenza njengemithombo ebalulekileyo kwiimodeli zoqoqosho ezibanzi zokuziphatha kwemarike kunye nabathengi. Ezi zinokwenziwa ngexesha langempela nangokujonga ukusuka ezantsi phezulu, zixhaphaza iindlela zemveli zokwakha iimodeli zoqoqosho.

Kule module ukuza kuthi ga ngoku, kugxilwe ekusebenziseni ubume obuvulekileyo belidger yeBitcoin ukuhlanganisa imilinganiselo eluncedo evela kwidatha yeentengiselwano ezidibeneyo. Nangona kunjalo, kunokwenzeka ukusebenzisa idatha yelidger kunye nabahloli beebhloko ukujonga iintengiselwano ezenzeka ebomini bokwenyani nokulandelela ukuhamba kwemali ngaphakathi kwenethiwekhi.

Minyaka le ngomhla wama-22 kuMeyi, uluntu lweBitcoin lubhiyozela uLaszlo Hanyecz, owayengumntu wokuqala okhankanyiweyo ukusebenzisa i-bitcoin ukuthenga iimpahla ezibonakalayo. Ngomhla we-18 kuMeyi 2010, uHanyecz wabhengeza kwiforum yeBitcointalk.org ukuba wayefuna ipizza kwaye wayezimisele ukuhlawula ngeBTC. Wanika 10,000 BTC kuye nabani na owayezimisele ukwenza loo ntengiselwano. Wasilinda iintsuku ezimbalwa, de umfundi oneminyaka eli-19 ubudala ogama linguSipho wavuma kwaye wathumela iipizza ezimbini ezinkulu.

I Pizza Day intengiselwano ingajongwa nangubani na kwaye inale transaction ID ilandelayo:

a1075db55d416d3ca199f55b6084e2115b9345e16c5cf302fc80e9d5fbf5d48d

Ukufaka le transaction ID kwi mempool.space kubonisa oku kulandelayo:

Umhla nexesha lentengiselwano: 22 kuMeyi 2010

Imali yentlawulo yenethiwekhi: 99,000,000 sats (ngelo xesha yayilingana ngaphantsi kwe-1 cent yeRandi yaseMzantsi Afrika. NgoMeyi 2025, le mali imi kwi-R1,800,000.00)

Ubude beBhloko: 57,043

Inani leziqinisekiso: 838,645 (eli lelona nani leebhloko ezongezwe kwilidger emva kwale ntengiselwano)

Inani leZinto ezingenayo kwiNtengiselwano: 131

Inani leZinto eziphumayo kwiNtengiselwano: 1

Xa ucofa kwisitshixo sikawonke-wonke esiphumayo (siphela ngo-XaxFyQ) esaziwa ukuba sasiphethwe nguSipho owafumana i-10,000 BTC ngeepizza ezimbini, kubonisa oku kulandelayo:

Le dilesi ngoku inebhalansi ye-0.00257879 BTC kwaye kubonakala ngathi iye yabandakanyeka kwiintengiselwano ezili-14, eyokugqibela yazo yenzeka ngomhla we-13 kuDisemba 2024.

8.4.1 Umsebenzi: Ingxoxo yeQela

1. Chaza izibonelelo (umz. uphononongo, uxanduva) okanye imingcipheko (umz. imiba yabucala) kubantu okanye amashishini asebenzisa inkqubo yentengiselwano evulekileyo nengacacanga ngoluhlobo.
2. Ingaba olu hlobo lokucaca kwezezimali lungachaphazela njani amashishini afana noncedo, ukuthengwa korhulumente, ukuthumela imali ekhaya okanye amapolisa?
3. Ngaba iinkqubo zebhanki zemveli kufuneka zinike inqanaba elifanayo lokubonakala? Ziza kunyanzelwa yimarike?