Will bitcoin affect digital RMB
however, this move has aroused people's concern about bitcoin, and they even think that digital RMB will replace bitcoin
the central bank's digital currency represents the digitization of RMB cash. More reflected in improving the efficiency of domestic small high-frequency transactions, thus playing a role in replacing RMB cash, thus consolidating China's monetary sovereignty
however, bitcoin is a currency based on blockchain technology, which has a limit on the total amount of issuance and cannot be over issued
last time I talked about this with people from Yingfu University of Finance and economics. Because there is a fundamental difference between digital personal name coin and bitcoin, it will not bring much impact on the price trend of bitcoin.
To guard against the possible risks brought by bitcoin, we know that digital currency represented by bitcoin has high risks. This kind of risk is mainly reflected in two aspects: first, the limitation of digital currency makes it used as investment goods, and the price is extremely unstable. Those who do not understand the principle of digital currency and pay too much attention to speculation are easy to suffer losses for various reasons
Secondly, national digital currency is linked to its own legal currency to a certain extent, so it effectively avoids the price volatility of bitcoin. Because the CBDC issued by our country is guaranteed by the credit of the central bank, it must be a stable currency. In today's international situation, the research and development of digital currency in China is of great significance. The introction of digital currency is not an expedient measure, it has become the development direction of China's future currencythe central bank recently stayed in the three major bitcoin trading platforms in China mainly to cool bitcoin, because the price of bitcoin has fluctuated greatly recently. Leverage, financing and currency have long been criticized in China. This investigation is expected
the central bank's investigation of the three platforms will affect all digital currencies, but it has little impact on the digital currencies on the coin Ying China platform, all of which are mortgaged by real assets.
1, the short-term factors that determine the price: supply and demand and market sentiment
the relationship between supply and demand means that if the amount of money spent on buying bitcoin is more than that spent on selling bitcoin, the price of bitcoin will rise. If more people buy bitcoin, it will rise
market sentiment refers to the views of the market and the media on the price trend of bitcoin at that time. When many people strongly see bitcoin, the market sentiment is confident, and the price of bitcoin will rise rapidly. If the media makes pessimistic reports on the price of bitcoin, it will affect people's confidence and lead people to sell bitcoin, and the price of bitcoin will fall
2, the medium-term factors that determine the price: policy, news and mining cost
on the policy side, it is the policy attitude of governments towards bitcoin. For example, the recent crackdown and regulation of bitcoin by the South Korean government has led to a sharp drop in the price of bitcoin in the near future. If more and more countries support and encourage the development of bitcoin, the price of bitcoin will be higher and higher. On the contrary, if many countries begin to suppress bitcoin, the price of bitcoin will continue to fall
on the news side, there are some important things in the bitcoin instry. For example, around December, the two major stock exchanges in the United States launched bitcoin futures, which are good for bitcoin and directly push the price of bitcoin up to about $20000
mining cost is the cost of bitcoin miners using machines to dig out bitcoin. At present, the cost of digging out a bitcoin is about 12000 US dollars, so it is difficult for the price of bitcoin to fall below 12000 US dollars. Mining cost is the bottom line of bitcoin price. With the continuous increase of mining costs, the reason is that more competitors enter the mining field, especially many large institutions, companies and countries
3 determines the long-term price factors: the US dollar trend, the global bubble, the official digital currency, and the block chain technology.
the trend of the US dollar. According to the personal analysis data, the US dollar will weaken in the next few years, which means that the global monetary system with us dollar as the world currency in the past will be rebuilt. The rise and future of bitcoin is to assume the identity and mission of the world currency
global bubble. Since the United States abolished the gold standard Bretton Woods system in 70s, many countries in the United States have been printing banknote printing machines. The bubble of currency has caused the global economic bubble and asset bubble. The global economic crisis triggered by the US subprime mortgage crisis in 2008 is the crisis triggered by the currency bubble. At present, the global economic bubble and asset bubble have reached the critical point of collapse. The birth of bitcoin was e to the reason of the currency bubble, which made people no longer believe in the currency of national credit, and began to believe and recognize bitcoin.
official digital currency, countries around the world have begun to prepare to issue official digital currency, that is, digital currency issued by countries. Venezuela has issued a national level digital currency - Petroleum currency. Israel is preparing to issue it, Russia is also preparing to issue it, and the Japanese government is issuing it. 2018 will become the first year of the global official digital currency. The accelerated launch of official digital currency and its increasing popularity show that the value of bitcoin as internet currency is unlimited.
bitcoin is stored in a digital wallet. You can store it on your local hard disk or mobile phone, or in a variety of online bitcoin exchanges. Keeping bitcoin locally is like hiding money under a mattress. If something goes wrong with your digital wallet, your money will be gone
to remit or collect money, you need to point your bitcoin client or network exchange to a bitcoin address, which is the address of every wallet. After a few minutes, bitcoin will generally leave your wallet and enter the other person's wallet. There are few sites that accept bitcoin, but there are a few. It's more difficult to use bitcoin in real life, but it can be achieved through some systems
what is the impact of bitcoin on the economy
despite all kinds of problems, the soaring price of bitcoin is partly e to more and more people using it. Bitcoin fans believe in its future. Ordinary people are also graally interested in cryptocurrency, but because it is too complex, it is difficult to popularize in the mass market. If it is really popular, the fluctuation of bitcoin's value will lead to greater turbulence in the global economy
if you bought $1000 bitcoin in 2010, it's worth about $35 million now. But if you buy $1000 bitcoin in early 2014, you'll only have a quarter of your purchasing power a year later. How would you feel if you paid with bitcoin and found that you could only buy half of what you had a few days ago
this kind of inflation is unstable, but if it is used in parallel with the government supported currency, bitcoin does have some advantages. Few people will exchange all their assets for bitcoin.
bitcoin is valuable because it is useful as a form of currency. Bitcoin has the mathematical characteristics of money (persistence, portability, interchangeability, scarcity, separability and identifiability) rather than relying on physical characteristics (such as gold and silver) or the trust of central authorities (such as fiat money). In short, bitcoin is backed by mathematics. With these characteristics, a form of money to have value requires trust and use. In contrast, this can be reflected in its growing base of users, businesses and start-ups. Like all currencies, the value of bitcoin comes directly from people who are willing to accept it as a means of payment, which is the only source.
at present, there are not many enterprises developing virtual currency trading software, so there is no specific cost. The development of general software system is mainly limited by the cost of functional requirements. In Yingtang Zhongchuang's blockchain virtual currency trading software development scheme, more is to solve the problem of how to realize the function, and the cost can only be determined after the demand meeting.
when it comes to digital RMB, its charm is too great. The reason is convenience. Nowadays, China wants to completely replace all banknotes with digital RMB. In addition to the popularity of mobile payment, people can buy a lot of things with only one mobile phone when they go out. Who doesn't like this kind of operation
the charm of digital RMB is huge:
the main advantage of digital RMB is convenience, but we should not ignore its other advantages, such as the digital RMB is easy to save, and there will be no change can't open and other things, of course, such as losing money and other bad things will not happen, because even if you lose your mobile phone, No one can use your mobile wallet. Payment also needs a password. Not only that, digital RMB can circulate all over the world. With an economy as big as China here, you don't have to worry about the devaluation of digital RMB. As long as you have a digital RMB wallet, you can scan the code to complete payment at any time, We don't need to go to the bank to exchange RMB into US dollars, but it still needs the promotion and development of mobile payment. At present, it still can't. no matter what, digital RMB has great prospects, and the future we are looking forward to is ahead
the future of digital RMB is not worrying, but it will take time:
China has realized the operation of mobile payment covering the whole country, but this does not mean that other countries have also successfully realized it. Many countries are cautious about mobile payment, but generally speaking, China is helping to promote digital RMB, As long as mobile payment is loved by people all over the world, they will subconsciously help the main way of mobile payment & mdash& mdash; With the promotion of digital RMB, the future of digital RMB is not worrying. It just needs time to precipitate. Maybe in the near future, digital RMB will become a global payment method
In 2016, RMB became the fifth largest world currency after US dollar, euro, Japanese yen and British pound. As a new member of the SDR basket, RMB is also the first emerging market currency to join the SDR basket
the inclusion of RMB into a basket of SDR currencies meets two "hard" criteria. One is the scale of export trade of currency issuing countries, and the other is the free use of currency
from a macro point of view, the inclusion of RMB in SDR has a wide range of positive significance. It will boost China's economic development, financial system reform and RMB internationalization
When it comes to the impact on RMB internationalization, Lian Ping, chief economist of Bank of communications, thinks that there are two positive effects. The first is demonstration effect. SDR is an internationally recognized "super sovereign reserve currency". Joining SDR means that RMB's status as an international reserve currency has been recognized by IMF, and it has become the official reserve currency candidate of 188 member countries; Before and after the entry of RMB into SDR, China has taken and will continue to take a series of measures concive to the opening of capital and financial accounts, including improving the RMB exchange rate middle price mechanism, which in turn will further promote the internationalization of RMBfor the Chinese people, they can also benefit from the "basket" SDR of RMB. In the long run, the dream of Chinese consumers holding RMB for direct overseas travel, shopping and investment may come true. People who have experienced outbound tourism have a lot of feelings about "exchange". Tourists should not only convert the exchange rate before departure, but also make an appointment for bank exchange; After returning to China, we need to convert the remaining foreign currency cash into RMB, which not only has exchange rate loss, but also has relatively complex operation steps, increasing travel costs