Decentralized Ponzi scheme
bitcoin is just a game. If it is promoted as a tool to get rich, it can be regarded as a fraud. Just like the currency in other online games, the only difference is that bitcoin has been standardized since the game was first formulated. It can't be issued indiscriminately, so it can keep its value better than other virtual game props. It is equivalent to the online collection. Bitcoin is a prop in the game, and its value is reflected in the recognition of bitcoin by players: more people play, the value of props in the game is higher; The risk is that he is not the only game, and his algorithm is not the only one. Maybe someone will be able to make other special coins soon. All you need to do is promote the game and sell your props. As for money, bitcoin does not have the basic attributes of money, such as unfair initial distribution and insecure circulation. Money needs to be maintained by the state machine
the concept of bitcoin was first proposed by Nakamoto in 2009. According to Nakamoto's ideas, the open source software and the P2P network on it were designed and released. Bitcoin is a kind of P2P digital currency. Point to point transmission means a decentralized payment system. Unlike most currencies, bitcoin does not rely on specific currency institutions to issue. It is generated by a large number of calculations based on specific algorithms. Bitcoin economy uses a distributed database composed of many nodes in the whole P2P network to confirm and record all transactions, and uses cryptography design to ensure the security of all aspects of money circulation. The decentralized nature and algorithm of P2P can ensure that it is impossible to artificially manipulate the value of bitcoin through mass proction
1. Bitcoin (bitcoin) is a kind of network virtual currency, which can buy real-life goods. It is characterized by decentralization, anonymity, and can only be used in the digital world. It does not belong to any country or financial institution, and is not subject to geographical restrictions. It can be exchanged anywhere in the world. Therefore, it is used as a money laundering tool by some criminals
2. On January 7, 2014, Taobao announced that it would ban the sale of Internet virtual currencies such as bitcoin and lightcoin from January 14. On February 26, 2014, Democratic Senator Joe Manchin of West Virginia issued an open letter to a number of regulatory authorities of the federal government of the United States, hoping that relevant institutions would pay attention to the status quo of bitcoin encouraging illegal activities and disrupting the financial order, and demanded that actions be taken as soon as possible to completely ban the electronic currency
3. On May 12, 2017, a global outbreak of bitcoin virus madly attacked public and commercial systems! Nearly 74 countries in the world have been seriously attacked
4. From August 1, 2017, global bitcoin trading platform will suspend recharge and withdrawal services. Bitcoin China digital asset trading platform will stop new user registration on September 14, and all trading businesses will be stopped on September 30
< H2 > reference materials: network bitcoin
First of all, we need to understand what is MLM:
MLM refers to the illegal behavior of organizers and development personnel to obtain wealth by calculating and paying remuneration to the developed personnel based on the number or performance of the personnel directly or indirectly developed, or requiring the developed personnel to pay certain fees to obtain the qualification to join. The essence of MLM is "Ponzi scheme", that is to say, the money of later comers is distributed to the income of former comers
However, the new type of MLM does not restrict personal freedom, does not accept ID cards and mobile phones, and does not take classes collectively. Instead, it uses capital operation as a banner to pull people to cheat money, drives luxury cars, wears gold and silver, and uses money to attract your relatives and friends to join in, and finally makes you lose all your moneythen judge whether the ether coin is a kind of MLM, whether you need membership fee, whether you need to ask your relatives and friends to join
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Ethereum is an underlying technology platform on which developers can create distributed applications. With the application, there will be transactions. With a transaction, you need money to complete the transaction. In this way, money has value, and investors' investment has a return. If the transaction volume on the platform is larger and larger, the demand for money will be higher and higher, and the money will be more and more valuable
from the perspective of image, bitcoin creates a kind of digital gold, while Ethereum creates a country, and Ethereum is the credit currency of the country
after bitcoin, there are thousands of digital virtual currencies in the world, many of which are completely deceptive in the guise of "digital currency". Previously, Haikou Municipal Public Security cracked down on a pyramid selling organization called "Eurasian currency", which operated on the internet pyramid selling platform, making more than 40000 investors cheated, involving 4.06 billion yuan. The field of virtual currency has just started, so we need to be cautious
resources : Ethernet money network
Whether in the past or in the future, we have always advocated that indivial interests should be in line with collective interests. When facing social and economic interests, we should first consider social value. When dealing with virtual currency shuttling through financial transactions, how should we choose its social and economic value
there are thousands of virtual currencies in circulation in the market, and not every currency will follow the principle of social value first. From December 17 to January 18, many virtual currencies scrambled the trading market by virtue of ICO chaos, which not only made many investors lose money, but also lost the hope of increasing the value of virtual currency, This kind of virtual currency not only has no social value, but also can never realize its own economic value
As the first virtual currency to appear in the public's eyes, bitcoin is a financial proct with both social and economic values. It not only grows graally in the process of development, from less than $1 to $10000 + today, but also drives the development of the whole instry. Bitcoin is the leader and protector of the emerging instry, Its contribution is multifaceted and its advantages are incomparable As a new emerging virtual currency, mycoin may not seem warm now, but the soup made by slow fire is often different. I hope mycoin will move closer and closer to bitcoin and compete with it in the near futureIt does not belong to MLM
Ethereum is an open source public blockchain platform with smart contract function, which provides decentralized virtual machine (Ethereum virtual machine) to process point-to-point contract through its special cryptocurrency Ethereum
the concept of Ethereum was first proposed by vitalik buterin, a programmer, from 2013 to 2014, inspired by bitcoin, to the effect of "next generation cryptocurrency and decentralized application platform", and began to develop through crowdfunding in 2014. The market value of Ethernet currency is second only to bitcoin, and it is the second largest encrypted digital currency in the world
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bitcoin has created the first decentralized cryptocurrency, and has fully tested the feasibility and security of blockchain technology in more than five years. In fact, bitcoin's blockchain is a set of distributed database. If a symbol bitcoin is added into it and a set of protocol is specified, the symbol can be transferred safely on the database without trusting a third party. The combination of these features perfectly constructs a currency transmission system bitcoin network
however, bitcoin is not perfect, and the scalability of the protocol is a deficiency. For example, there is only one symbol in the bitcoin Network - bitcoin, and users can't customize other symbols. These symbols can represent the company's stocks or debt certificates, which will lose some functions
In addition, a stack based scripting language is used in bitcoin protocol. Although this language has some flexibility to realize functions such as multi signature, it is not enough to build more advanced applications, such as decentralized exchanges. Ethereum is designed to solve the problem of insufficient scalability of bitcoinNow the most popular is the blockchain. Now people continue to join the blockchain instry. Even some giant enterprises are also studying the blockchain. Some people say that the blockchain is a fraud, and others say that the blockchain is the hope of the future. Let's explain it
1. Is blockchain a Ponzi scheme
No, blockchain is a technology. Technology itself can't commit a crime without self-consciousness
blockchain is essentially a decentralized accounting system
What is decentralization? Take chestnuts for example:in Guaizi village, Cuihua has an affair with Lao Wang next door and is seen by Li Si. After that, Li Si told everyone in the village about it. As a result, Cuihua and Lao Wang Dao are well-known about the affair. For more details, please click
The current blockchain procts can be defined as Ponzi scheme except bitcoin. The concept of blockchain was born in 2008, but it was after the growing market value of bitcoin that it was recognized by the public and became popular in China. Bitcoin gained its market value only eight years ago after a foreign programmer spent 10000 bitcoins to buy two pizzas. After eight years of long value-added period, the 10000 bitcoins, which once had a market value of only $40, now have a peak value of nearly $200 million
technology is a liar without capital, and the platform built by blockchain without transaction record is a great liar
blockchain builds a fair trust platform with the method of [all bookkeeping] (generally speaking, I called XXX to borrow my 100, and everyone wrote it down, so the transaction can be completed without middleman, and the completion process depends on the records of the whole platform), but the transaction currency does not generate value out of thin air, but accumulates its value little by little in each transaction, In the end, it became money. The endorsement of its value is caused by countless transactions
then other blockchains have three major problems: 1. The maturity of Technology (there is no recognized algorithm now) 2. How can you guarantee the appreciation of these currencies? 3. How to ensure that others don't yell for transactions? The method of blockchain is to increase the difficulty of yelling out (for example, if no one gives me money, I also yell for money, and you can write it down in a small notebook). The method of blockchain is to remember that a small notebook needs to be upside down and write with a pen in its mouth...), so the problem of mining out of thin air may be caused by the technologist
therefore, blockchain is basically a Ponzi scheme except for accumulating a lot of bitcoin in the transaction process. What you're involved in is that the platform will use their virtual currency to trade a lot in the future , whether the monetary value of blockchain output is high or not is e to its trading volume as an intermediate currency, is no different from stock speculation - but stock speculation is actually a Ponzi scheme
the funniest thing is, Blockchain has been calling for decentralization, but if you want to make money to make the circle, the more you have to rely on the endorsement of the big platform to ensure the circulation of money, the more you want to be decentralized, the more you need to help the central GZ government legislate - the funniest thing in life is this, just like VR was riding on pockmango, an AR proct in the first year
if you make money, please don't promote it to your friends
if you have investment, please withdraw the fund in time
if you have loss, please stop it in time
if you make money but can't transfer, please report it to the relevant department
No, it's just a problem with the money
in the past year, "smart beta" has become the most popular investment strategy in the market, but one of the founders of this strategy warned that there may be "terrible mistakes" in this strategy, leading to huge losses for investors
Research Associates is one of the first companies in the United States to develop the smart beta index. Rob Arnott, chief executive of research associates, recently said that the increasing popularity of the strategy may lead to a sharp decline in investment performance. "In the next three to five years, I expect (some smart beta investors) to end up with a very disappointing outcome."
Arnott believes that funds adopting smart beta may make "terrible mistakes"“ I used to think that it's good to have more funds using smart beta strategy, but now I see the strategy spreading in many investment procts that I think are unwise, which will make investors take the risk of pursuing interests. I don't think it's a good thing. "
according to the statistics of Morningstar, the fund size using smart beta strategy has soared from US $103 billion in 2008 to US $616 billion at the end of 2015
in the field of investment, the so-called "beta" refers to a wide range of market performance, while "alpha" refers to the excess return that outperforms the market
From 1960s to 1970s, academic finance research found that "no one can beat the market", which is the so-called efficient market hypothesis. This concept has been widely accepted and entered into the common sense category. It has also become the theoretical basis for the establishment of index funds. As long as the cost is as low as possible, it is good to follow the market index However, since the 1980s, researchers have graally found some systematic methods, so that people can actually beat the market without praying for the blessing of the goddess of luck"smart beta" is a kind of passive investment strategy, which avoids the limitation of market value weighted index and tries to add some complex indicators to overcome the market, such as company fundamentals or debt ratio, rather than simply considering market value and other factors, so as to provide investors with more flexible and diversified portfolio strategies