Wealth management and bitcoin
the notice defines the nature of bitcoin, and holds that bitcoin is not issued by the monetary authority, has no monetary attributes such as legal compensation and compulsion, and is not a real currency. In terms of nature, bitcoin is a specific virtual commodity, which does not have the same legal status as currency and cannot and should not be used as currency in the market. However, bitcoin trading as a commodity trading behavior on the Internet, ordinary people have the freedom to participate at their own risk
the notice requires that at this stage, all financial institutions and Payment institutions shall not price procts or services with bitcoin, buy or sell bitcoin as a central counterparties, underwrite insurance business related to bitcoin or include bitcoin into the scope of insurance liability, and provide other bitcoin related services to customers directly or indirectly, Including: providing bitcoin registration, trading, clearing, settlement and other services for customers; Accept bitcoin or use bitcoin as a payment and settlement tool; Carry out bitcoin and RMB and foreign currency exchange services; Carry out bitcoin storage, custody, mortgage and other services; Issuing financial procts related to bitcoin; Take bitcoin as the investment target of trust, fund, etc
according to the notice, the bitcoin Internet website, as the main trading platform of bitcoin, shall be filed with the telecommunications administration according to the provisions of the Telecommunications Regulations of the people's Republic of China and the measures for the administration of Internet information services. At the same time, in view of bitcoin's high risk of money laundering and being used by criminals, the notice requires relevant institutions to perform the legal anti money laundering obligations such as customer identification and suspicious transaction report in accordance with the anti money laundering law of the people's Republic of China, so as to effectively prevent the money laundering risks related to bitcoin
in order to avoid excessive speculation of virtual commodities such as bitcoin in the name of "virtual currency" and damage the public interest and the legal tender status of RMB, the circular requires financial institutions and Payment institutions to correctly use the concept of currency in their daily work, pay attention to strengthening the ecation of the public's knowledge of currency, and correctly understand the concept of currency The concept of correctly treating virtual commodity and virtual currency, rational investment, reasonable control of investment risk, and maintenance of their own property security should be included in the content of financial knowledge popularization activities, so as to guide the public to establish a correct concept of currency and investment
in the future, the people's Bank of China will continue to pay close attention to the trend and related risks of bitcoin based on its own responsibilities End)
bitcoin home has an interpretation.
Fire coin is a bitcoin trading platform. As of the end of 2016, the accumulated turnover of fire coin reached 200 billion yuan
bitcoin is a virtual encrypted digital currency in the form of P2P
Bitcoin is different from all currencies. Bitcoin does not rely on a specific currency institution. It is generated by a large number of calculations based on a specific algorithm. Bitcoin economy uses a distributed database composed of many nodes in the whole P2P network to confirm and record all transactions, and uses the design of cryptography to ensure the security of all aspects of currency circulation. The decentralized nature and algorithm of P2P can ensure that it is impossible to artificially manipulate the value of bitcoin through mass proction 
extended information:
fire coin business
1. Fire coin global station, headquartered in Singapore, provides digital asset trading and investment services
2. The digital asset trading platform based on Korean won provides digital asset trading services
3, China, has become a platform for information and research in vertical chain of block chain, providing regional chain technology research and application information for Chinese mainland users, and integrates services such as instry consultation, research and ecation training. p> The company is headquartered in Beijing, China, providing digital asset management services and user experience
1. The nature of the two currencies is different: bitcoin is an encrypted digital currency, and Morgan is a typical MLM currency
(1) bitcoin is a consensus network, contributing to a new payment system and a fully digital currency. It is the first decentralized peer-to-peer payment network, which is controlled by its users without a central management organization or middleman (2) Morgan is a kind of typical MLM currency, they often promise high income, the information of the founding operation team is not open, and they have the background of international large companies, so they put forward a set of seemingly reasonable economic theory
extension data: the harm of
network currency: the extensive application of
1 and virtual currency is also accelerating the rampant network robbers.
(1) in December 2006, the Shenzhen Public Security Bureau announced that it had cracked the country's largest theft network virtual property case, and 11 suspect was arrested. The gang used trojan virus to illegally steal virtual property such as tens of thousands of QQ numbers and QQ coins, and sold stolen goods on the network, making a profit of more than 700000 yuan
(2) in this case, the virtual currency Q was used as the standard of conviction and sentencing, and the police's arrest of illegal elements on suspicion of theft is a special case. The reason is that Tencent has filed with the Guangdong Provincial Price Bureau, and one q is equivalent to 1 yuan
(3) online currency is used more and more widely, for example, it can be used to buy anti-virus software online, vote for super girl, and some websites even use online currency to pay the moderator
2. Outside the business system, because indivial virtual currency has become the "equivalent" of RMB, or even "online RMB", which shows the role of "network hard currency", the illegal gains of illegal gambling can be cashed into RMB, which further promotes online gambling
Bitcoin, English name bitcoin, is a digital currency based on blockchain technology, which is composed of a series of computer-generated complex codes. Like RMB's ￥ and US dollar's $, bitcoin has its own symbol, the "B" in the figure below
The inventor of
bitcoin is Nakamoto. Satoshi Nakamoto is the creator of bitcoin protocol and its related software bitcoin QT. In 2008, he published a paper called "bitcoin: a peer-to-peer electronic cash system", describing an electronic currency and its algorithm that he called "bitcoin"
In 2009, he released the first bitcoin software and officially launched the bitcoin financial system In 2010, he graally faded out and handed over the project to other members of the bitcoin communityNakamoto is believed to hold about one million bitcoins. If the price of each bitcoin was $2W, it was worth $20 billion at one time. So far, his true identity is still unknown to the outside world, that is to say, no one knows who Nakamoto is
bitcoin appeared after the global financial crisis in 2008. In fact, before that, many people have tried electronic currency, digital currency and virtual currency, but they have not succeeded. There are not only technical reasons, but also social environment and economic background reasons. To some extent, it was the 2008 financial crisis that gave birth to bitcoin
bitcoin does not rely on specific currency institutions to issue. It is generated through a large number of calculations of specific algorithms. Bitcoin economy uses a distributed database composed of many nodes in the whole P2P network to confirm and record all transactions. The decentralized nature and algorithm of P2P can ensure that it is impossible to artificially manipulate the value of bitcoin through mass proction
bitcoin is very similar to cash
the advantages of bitcoin are: no freezing, no tracking, no taxes, and extremely low transaction costs. Compared with people who speculate in currency, it is wealth, and people outside the currency circle may think it is a fraud
bitcoin is a relatively mainstream digital currency, which can be properly invested. There are risks in the transaction. You can invest cautiously. You can search the fire coin, coin security, OK, dobby trading platforms on the Internet, which can trade bitcoin. These are relatively large trading platforms. Invest in mainstream digital currency, do not invest in counterfeit currency or air currency
bitcoin exchange can trade all kinds of digital currencies, and bitcoin wallet can only store bitcoin
How do we know what should and should not be taxed? Now, we have some experts who can help us understand, but if you are involved in cryptocurrency and live in the United States, it will be easier. Laura shin is such a kind and helpful person. She explains how to deal with digital currency and the IRS when it comes to taxation. Her article in Forbes clearly explains the different sources of bitcoin and digital currency. First, all digital monetary assets are regarded as capital assets like stocks and bonds. The IRS calls cryptocurrency an asset in its guidance 14-21
there is only one way to own digital currency or spend it, and that is to start mining. If you succeed in mining some bitcoin, any block reward you may get depends on the amount of bitcoin you get and the market value at that time. It's very important to have the right record, because the value of bitcoin is bound to fluctuate, and you never know how much bitcoin is worth when you pay taxes. The calculation of tax depends on whether it is a long-term or short-term capital gain
do you get a return in bitcoin? The good news is that if you try to save some, and the price of bitcoin goes up, your salary could double. The bad news is that you'll pay income tax on wages and VAT on assets that hold the subsequent gains in bitcoin. However, it is best to record the actual value of legal tender when payment for services is received
if your salary is paid in the form of bitcoin, you may want to spend some in the form of bitcoin itself (for others who own bitcoin by any means). The expenditure of any bitcoin is equivalent to the sale of assets, and the gain or loss will occupy the holding period. So in order to find out the holding period, people have to know which bitcoin they are selling and when they receive a special bitcoin, which is almost impossible unless you use a new wallet for every transaction. A better way is to have a set of predefined rules for all bitcoin revenues and expenditures. Laura suggests the implementation of LIFO or FIFO accounting methods
if you give or accept bitcoin as a tip or gift, it is best to publish or ask for information about the cost base and date of digital currency. If this could be done, it would be easier to calculate capital gains. Otherwise, in the absence of information, people can always explain it in terms of income and get out of trouble. If you are donating to a registered charity, the digital currency unit income from the donation can be written off from the account, which is not taxed. Laura suggests using digital currency donations to rece taxes
when trading bitcoin, it is wise to keep a record of the fair market value on the date of the transaction. If a trading platform or transaction issues a 1099-b report, this will help record the profit and loss. These suggestions will come in handy for those who are already working on bitcoin and want to know how to track the gains and losses of their digital currency.
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.
Condition 1: the role of sponsor can be divided into "indivial or team entrepreneurship" and "institutional expansion". Indivial or team entrepreneurship refers to the decision of the partner team or founder indivial to establish their own wealth management company for various subjective and objective reasons. Institutional expansion refers to the decision of various corporate entities to expand their business areas and carry out wealth management business e to internal and external factors such as organizational strategy, competitive advantage or business environment
in reality, the single initiator is still the main component of the founder; But recently, more and more indivial entrepreneurs and institutional expansionists form a long-term contract through reasonable equity structure design to achieve complementary advantages
condition 2: resource endowment
no matter indivial entrepreneurship or institutional expansion, they need to clearly describe their own development path and resource endowment. At present in China, it can be roughly divided into three categories: customer resource capability, asset management capability and technical capability
customer resource capability refers to the quantity, quality and stickiness of high net worth customer resources, as well as the ability to rapidly expand high net worth customer resources. Or simply speaking, it is the ability to raise funds. Further subdivided, according to the types of procts that can be raised, the proct raising ability can be divided into single proct raising ability and diversified proct raising ability; Or according to the collection means, it can be divided into institutional channel collection ability and direct retail collection ability. Asset management ability refers to the management ability in terms of asset quantity, asset quality and asset pricing power. Or simply speaking, it is the supply capacity of procts
similarly, it needs to be further divided into single asset management capability and diversified asset management capability; Or according to the mode of asset management, it can be divided into direct management ability and indirect management ability. The so-called technological capability is a new force recognized by the instry in recent years e to the rise and precipitation of fintech / Welltech field
many players and founding teams in this field are not the resource background and development path of the traditional wealth end or asset management end in the past, but from the partial technology fields such as P2P, social network, instry training, instry we media, blockchain / bitcoin, intelligent investment consulting, etc., and graally establish their own business models in user traffic, brand, user community, data analysis Investment algorithm and other technologies and differentiation advantages in the Internet field, and then intend to cut into high-end wealth management business
three kinds of endowments can be both. But more often, it starts with a unique skill. At the beginning of its establishment, it is rare that any two of its endowment advantages can be formed at the same time. Even if there are, there are often obvious differences between the two abilities. There are few start-ups with strong balanced strength, which is also the essence of the top-level architecture and resource portfolio allocation that must be seriously considered in the early stage of business establishment. Of course, if none of the three is available, wash and sleep first, and be ready to come again
condition 3: business purpose
the conditions of the first two dimensions are more objective conditions, while business purpose is subjective selective conditions; That is: why to set up wealth management business. Similarly, it can be divided into three types: customer-centered, independent wealth management business - independent business; We should carry out diversified operation around our own central business and set up a wealth management business mole - diversified business; It is necessary to supplement the real instry and asset management business, enrich and enrich the capital source of instry chain / asset management chain - capital side business
the so-called independent business refers to some independent financial management studios, small wealth management companies, boutique wealth management institutions, or family offices created by professional financial planner teams or professional indivials
they start from customer needs, customize solutions for customers, and comprehensively collect and match procts and services in the market. The so-called diversified business mostly refers to some other business models (such as immigration, high-end real estate development or real estate economics, overseas study consultation, high-end community services, high-end training, etc.) that focus on high net worth and rich people, rather than the traditional narrow sense wealth management business (such as selling financial procts or providing asset allocation services) To enhance customer stickiness and enhance customer experience
the capital side business refers to the asset management business generated by the group's development strategy and its corresponding investment and financing needs, and continues to generate the demand for the corresponding wealth management business. The latter two are not independent businesses, but the simple way to distinguish the capital side business and diversified business is to analyze the financing purpose of the procts raised, whether it is for the capital needs of its own group strategy and instry and asset management development, or only for the purpose of earning intermediate income and diversifying its income sources. The group's own main business has no relationship with proct financing
in the same way, business purposes can be single and pure, or cross and comprehensive, or even graally adjust and change in the process of promotion. But overall, the purpose is clear and very important. Because the purpose conditions will directly affect the company's top-level architecture design, the choice of development path, the deployment of proct line and the construction of team talents
source: newbanker blog