Bitcoin is not a criminal

1. To be an intentional criminal of bitcoin, we need to make use of bitcoin to do non-material things. The central bank and other five ministries and commissions issue bitcoin risk notice (full text of bitcoin experts in China): the notice clearly defines the nature of bitcoin, recognizes that bitcoin is issued by the monetary Bureau, has monetary attributes such as compensatory and mandatory, and has real significance. From the perspective of monetary nature, the specific virtual goods of bitcoin have the same legal potential as money and should be used for currency market circulation Bitcoin trading is a kind of Internet Chinese commodity trading bank. Ordinary people are free to participate at their own risk. The notice requires payment institutions of financial institutions to buy and sell bitcoin procts or services at a fixed price, or buy and sell bitcoin as a central bank. Bitcoin underwrites insurance business related to bitcoin, or bitcoin is included in the scope of insurance liability. Direct or indirect customers provide bitcoin related services, including: customers Users provide bitcoin registration, trading, clearing, settlement and other services; Accept bitcoin or bitcoin as payment and settlement tool; Bitcoin and foreign currency exchange services; Bitcoin storage, custody, mortgage and other business; Issue financial procts related to bitcoin; Bitcoin as a trust Fund and other investment targets are stipulated in the notice as the main trading platform of bitcoin. Bitcoin Internet China station shall, in accordance with the regulations of the Chinese Communist Party of China on telecommunications and the provisions of the Internet China Information Service Management Office, file with the telecommunications management agency. The notice requires the relevant agencies to fulfill the requirements of the Chinese Communist Party on anti money laundering The "notice" requires financial institutions and Payment institutions to make sure that they use the concept of currency in their work, and pay attention to strengthening the public's monetary knowledge ecation, recognizing and treating the virtual currency of virtual commodities Rational investment, reasonable control of investment risk, maintaining the safety of their own property and other concepts are included in the content of financial knowledge popularization to guide the public to establish a correct monetary investment concept

2.

It's not against the law to do bitcoin business, but don't use bitcoin to do illegal things

the following is the bitcoin risk notice issued by the central bank and other five ministries and commissions (bitcoin home has the full text):

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 mandatory, 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

3.

It's not against the law to do bitcoin business, but don't use bitcoin to do illegal things

in China, the regulations on the administration of RMB prohibit the proction and sale of token tickets. Because there is no clear judicial interpretation of the definition of token ticket, if bitcoin is included in the "token ticket", the legal prospect of bitcoin in China will face uncertainty

the notice of the Ministry of culture and the Ministry of Commerce on strengthening the management of virtual currency of online games (Wen Shi Fa [2009] No. 20) on June 4, 2009 stated that the application scope of virtual currency of online games was defined for the first time, and the distinction between the current virtual currency of online games and the virtual props in the game was made; At the same time, the notice said that the "notice" stipulates that enterprises engaged in related services must be approved before they can operate

in China, some Taobao stores also began to accept the use of bitcoin, and the number of businesses will graally increase

in October 2013, the first bitcoin quarterly, one bit, was released

on October 15, 2013, the network accelerator service of the network announced its support for bitcoin

on October 26, 2013, btcmini reported that GBL was hacked

on October 31, 2013, Lei Teng, a famous Internet lawyer, proposed the event of "filing a case to investigate the closure of GBL bitcoin trading platform as soon as possible", analyzed the "value function" and "use function" of bitcoin, and bitcoin should be governed by relevant laws

on December 5, 2013, notice of the Ministry of instry and information technology of the people's Bank of China, China Banking Regulatory Commission, China Securities Regulatory Commission and China Insurance Regulatory Commission on preventing bitcoin risk: bitcoin is a specific virtual commodity

as a commodity trading behavior on the Internet, ordinary people have the freedom to participate in bitcoin trading at their own risk

on September 4, 2017, announcement of the people's Bank of China Central Network Information Office, Ministry of instry and information technology, State Administration for Instry and commerce, China Banking Regulatory Commission, China Securities Regulatory Commission and China Insurance Regulatory Commission on preventing the risk of token issuance financing: it is prohibited to engage in token issuance financing activities (ICO)

the trading platform shall not engage in the exchange business between legal tender and token, or virtual currency, or buy or sell token or virtual currency as a central counter party, or provide pricing, information intermediary and other services for token or virtual currency

on November 2, 2018, the people's Bank of China released the 12th topic of China financial stability report 2018, which talked about "encrypted assets"

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extended information:

currency transaction

purchase method

< P > users can buy bitcoin, and at the same time, they can use computers to "mine" bitcoin according to algorithms. When users "mine" bitcoin, they need to search for 64 bit numbers by computer

and then, by repeatedly solving mysteries, compete with other gold miners to provide the required numbers for the bitcoin network. If the user's computer successfully creates a set of numbers, it will get 25 bitcoins

e to the decentralized programming of bitcoin system, only 25 bitcoins can be obtained every 10 minutes, and by 2140, the upper limit of bitcoins in circulation will reach 21 million. In other words, bitcoin system is able to achieve self-sufficiency, resist inflation through coding, and prevent others from destroying these codes

source of reference: network bitcoin

4.

It's not against the law

The laws and administrative regulations in China do not prohibit the proction, holding and legal circulation of bitcoin, nor do they prohibit the sale of bitcoin mining machines

2. The investment and transaction of "virtual currency" represented by bitcoin are on the rise. For this kind of virtual goods generated in the Internet environment after the development of Internet technology, there are policy and commercial risks in related transactions. However, under the premise of not violating the mandatory provisions of laws and administrative regulations, the contract signed by the parties is a valid contract

3. Bitcoin is generated by "miner" and "mining", and "miner" can be assumed by anyone in any place in the world. "Mining" is a process in which "miner" provides certain computer computing power according to the open source software provided by the designer, and obtains the special solution of the equation through complex mathematical operations, The miner who gets the special solution gets a certain amount of bitcoin reward

Because bitcoin is based on workload proof, it is related to computing power. To have computing power, we need to consume power, so its power consumption is very large. It is precisely because of such a large power consumption that the safe and stable operation of bitcoin system can be guaranteed

extended information:

according to the data of btc.com website, up to now, the computing power of the whole bitcoin network is about 51.65 eh / s, which is equivalent to 1.84 million bitcoin S15 (28T computing power, 1596w power) mining machines in operation, and the daily power consumption is about 69.92 million kwh. Divided by the current proction of 1800 bitcoins per day, excluding other costs, each bitcoin will consume 38800 kwh of electricity. "

from this point of view, although the current price of bitcoin is expensive, the cryptocurrency market website coinmarketcap.com shows that the current unit price is about $7900, but the cost of mining a bitcoin is not low at all

5.

Bitcoin has become the most popular cryptocurrency in the world. Some countries allow the transaction of bitcoin, but some countries prohibit it. China belongs to the latter. Why does China shut down bitcoin trading? Let's analyze this problem today

bitcoin does not have the function of trading medium in China, so it can not be called currency. At the same time, bitcoin has the function of storing value and has certain investment value. However, the rapid rise of the current price has formed speculative anticipation and may form a bubble in the future. Therefore, it is necessary to take measures ahead of time, which can also restrain some illegal acts of laundering money and transferring assets through bitcoin. p>

6.

Bitcoin is illegal in China

since September 4, 2017, China has expressed its opposition to the virtual currency exchange. On the market, large-scale exchanges are graally fading out of the domestic market. Some of them are going to Japan and some of them are going to Nanyang. Of course, with the release of new regulations in Hong Kong in early November, we believe that in the future, the virtual currency exchange may obtain a legal license in Hong Kong to serve local institutional investors

extended information:

bitcoin China said that the platform will stop withdrawing cash. So far, bitcoin China has closed all transaction functions. The other two bitcoin trading platforms in China, huocoin.com and okcoin, have also stopped trading all digital assets against RMB

the virtual currency represented by bitcoin has soared, attracting a large number of ordinary people without any technology and investment knowledge to enter this high-risk market

the central bank, together with many ministries and commissions, issued the announcement on preventing the financing risks of token issuance (hereinafter referred to as the announcement), which pointed out that no organization or indivial may engage in the financing activities of token issuance illegally According to the announcement, all kinds of token issuance and financing activities should be stopped immediately from the date of issue

the organizations and indivials that have completed the token issuance financing should make arrangements such as liquidation, reasonably protect the rights and interests of investors, and properly handle the risks. Relevant departments will seriously investigate and deal with the activities of token issuance and financing that refuse to stop and the illegal behaviors in completed token issuance and financing projects

the China Internet Finance Association issued the "tips on preventing the risks of bitcoin and other so-called" virtual currency ", pointing out that bitcoin trading platform is a tool for money laundering, drug trafficking, smuggling, illegal fund-raising and other illegal criminal activities e to the expanding number of stakeholders and strong speculative atmosphere; There is no legal basis for the establishment of various so-called "currency" trading platforms in China

7. Bitcoin is a kind of tulip instry, which is supported by a group of people with faith. The daily rise and fall of bitcoin is 30%, which is extremely risky. In finance, most of the procts rise and fall about 0.2% to 1% every day. There is no investment with greater risk. It is recommended not to touch it

8. It's not a hierarchical test< At present, there are two types of gene testing that you can contact with. One is consumer grade, with many advertisements and relatively low prices. It is well known to the public that you can join in, what packages you have, and discounts. It is often * * gene company, or * * gene for short. wait. The test results can only be used as a reference, as a basis for decision, there is the possibility of error
the other is clinical grade, with few advertisements. It is often the laboratory of the laboratory or scientific research institution in a large hospital, and it is often used to detect one or several points of a certain kind of disease, with high cost and high accuracy. As long as there is no problem in sampling, the results will be OK
therefore, if you have such a demand, it is recommended to go to an institution with a molecular laboratory, whose test is clinical grade.

9. The characteristics of fund-raising
1. Fund raising without the approval of relevant departments according to law, including those without approval authority
cross provincial illegal fund-raising
departments with approval authority approve fund-raising beyond their authority, that is, the fund raiser does not have the subject qualification of fund-raising
Second, promise to repay the principal and interest to the investor within a certain period of time. Besides currency, there are also physical and other forms of debt service
Third, to raise funds from non-specific social objects. Here, the "unspecific target" refers to the public, not the specific minority< Fourth, cover up the essence of illegal fund-raising in legal form. In order to cover up their illegal purposes, criminals often sign contracts with investors (victims), disguise as normal proction and operation activities, and maximize their ultimate purpose of obtaining funds by fraud

if the above four conditions are met at the same time, it constitutes illegal fund-raising.