Digital currency KK
what is bitcoin ETN? Bitcoin ETN is bitcoin exchange traded notes (bonds)
ETN, that is, exchange traded bonds or exchange traded notes. It is a kind of unguaranteed creditor's rights. The issuer promises to pay investors a certain amount to the holders at the maturity of the bonds. The payment amount is based on a specific market index, minus the necessary fees, and does not pay fixed interest, And the principal is not guaranteed
bitcoin ETN is a bill (bond) traded on bitcoin exchange, which allows users to participate in investment by tracking the price trend of bitcoin. What users hold is the promise to cash their funds according to their price index over a period of time. At the same time, it is also a very efficient hedging tool
after investors purchase bitcoin ETN, they do not need to hold bitcoin directly. The company will hold bitcoin on behalf of investors, which reces the investment risk of investors. As an investment tool, it greatly widens the channel for institutional investors to invest in cryptocurrency
is bitcoin ETN and ETF confused so, what are the differences between bitcoin ETN and bitcoin ETF the procts of bitcoin ETN and ETF are similar in that investors can invest in bitcoin without holding bitcoin directly; Second, in view of the characteristics of cryptocurrency price fluctuations, both of them have solved the worries of investors when they invest in cryptocurrency; Secondly, both can effectively attract more investors and bring more capital inflow; At the same time, both have the credit endorsement of traditional financial institutions, which greatly reces the investment risk of investors
Second, bitcoin ETN allows users to participate in investment by tracking the price trend. What users hold is the promise to cash in accordance with their price index over a period of time. Bitcoin ETF is a trading open-end index fund set up with the bitcoin price index in a certain market as the target index, similar to gold ETF. In addition to the ETF investors who are the beneficiaries of the trust, there are also three important subjects: the sponsor, the trustee and the custodian. They will sign the trust contract and perform their respective ties according to the contract
Thirdly, different from ETF using a basket of stocks for redemption, ETN using cash for redemption will be subject to some restrictions, resulting in low timeliness. The arbitrage efficiency of ETF is lower than that of ETF because of the non physical redemption characteristics, so the discount premium rate is generally higher than that of ETF The successful entry of ETN procts into the U.S. market can make it easier for investors holding US dollars to invest in bitcoin related procts, which undoubtedly increases the attraction of digital currency as an investment assetthe regulation of ETN, a cryptocurrency listed on the stock exchange, fully shows that bitcoin is officially recognized as a legal asset class. In addition, as an investment tool, it greatly widens the channels for institutional investment to enter cryptocurrency investment
after ETN enters the market, what is the response of bitcoin market
it was once believed that bitcoin price would soar all the way when ETF passed and a large number of institutional investors entered the market. ETN is regarded as the "soft" substitute of bitcoin ETF, which is the dream of the public. ETN allows us dollar holders to invest in bitcoin without holding bitcoin. In principle, this should be a big event that can drive the market, but in fact, the market response is not big, and it does not attract many US investors and the Wall Street capital they are fighting for, This is a strange phenomenon
Jeff kilburg, founder and CEO of KKM financial, explained that the price of bitcoin will continue to fluctuate until the application for ETF is finally answered, and ETN will not have much influence
Bart Smith, head of the digital assets Department of Susquehanna International Group, a global investment market giant, is optimistic about this. He said that ETN has had a certain influence on the market, but it is far less explosive than ETF
there are also views that in order to make ETN procts more competitive, investors need to persuade their brokerage account providers to provide bitcoin ETN services on their platforms. According to the reaction of many investors, their brokerage account suppliers say that they do not support cxbtf (bitcoin tracker one's transaction code) transactions at present, or they need to perform more complicated steps to carry out transactions
ETN is neither regulated by SEC nor registered with SEC, so its influence is far less than that of ETF
although US investors can now invest in bitcoin through ETN and some institutional exchanges, bitcoin has not yet reached a new height. Most cryptocurrency market investors still hope that regulators can approve bitcoin ETF to enter the U.S. market, because they believe that this will promote bitcoin to be adopted by more mainstream funds, including wall street, and will cause a large-scale price rise. In addition, the SEC continues to consider various applications for bitcoin ETFs, so there are still a lot of hype and excitement about the ETFs that may pass
29 well-known companies in the world hold more than US $30 billion in digital assets
recently, a new trend has emerged, because many well-known companies have decided to use bitcoin (BTC) for reserves rather than traditional assets. After MicroStrategy bought $250 million worth of BTC, the trend became popular. Soon after, the company continued to buy more bitcoin. After several purchases, MicroStrategy has increased its holdings to 70470 BTC or. 336% of its supply. After the acquisition of MicroStrategy, square Inc. and other companies began to acquire. And ruffer investments joined the bitcoin buying trend
according to bitpointstudies.org, a portal, many companies hold more than 1.1 million bitcoins or more than $30 billion worth of encryption assets. After MicroStrategy, a billion dollar company, bought $250 million worth of bitcoin in August, the large amount of bitcoin reserves held by well-known companies began to expand. Now 29 companies hold cryptocurrency instead of traditional reserves such as stocks and cash
so far, a total of 29 companies have been listed on bitpointresearches.org, which divides all companies into three different parts. Publicly traded, private and ETF like holders
mining Corp., Voyager digital Ltd., riot blockchain, Inc., bit digital, Inc., coin citadel Inc., advanced bitcoin Technologies AG, digitalx, hive blockchain, cypherpunk Holdings Inc., big digital assets Inc, The 15 publicly traded companies, Argo blockchain and frmo Corp., have a total market value of about 100003 and 160; BTC, the private company holding bitcoin funds, includes four private companies, including mtgox KK, block.one, tezos foundation and stone ridge holdings group. Among the reserves of all four companies, the total market value of private companies is 317383-160 more than that of listed companies; BTC
at the bottom of bitpointstudies.org, there are nine ETF like holders, including grayscale bitcoin trust, coinshares, ruffer investment, 3iq the bitcoin fund, grayscale digital large cap, bitwise 10 crypto index fund, WisdomTree bitcoin, 21shares AG, etc & 160; Group's bitcoin ETP
including tahini & x27, a Canadian restaurant chain; S and snappa, a Canadian graphics software company. Tahini's restaurant chain revealed that it converted all of its cash reserves into BTC, while snappa said it spent 40% of its cash reserves on bitcoin transactions. Mogo, a Canadian listed company, has just announced that it will invest 1.5% of its reserves in bitcoin and plans to buy more next year. When tahini decided to tell his financial adviser that he would buy bitcoin immediately, he suggested using gold. The owner of the restaurant said the precious metal gold has become a reliable haven
the company tweeted: &“ We looked at our financial adviser and told him that because of bitcoin, gold would become a scam. " Tashini added: "he laughed and condescended back to the 6000 year argument."
to build weapons, you need refined iron and stone, primary refined materials, and weapon drawings
1. First go to the equipment refiner for dialogue, and then select "material refining"
2. Weapon materials need one of explosive steel, ice black steel and blood pith steel, so choose one of them for refining
take explosive steel as an example: you need 5 refined iron protoliths + 1 volcanic carbon (primary refining material), and then refine the first-class explosive steel
3. Talk to the equipment refiner, select "equipment building" and then "weapon & quot;, Put on the explosive steel refined just now + weapon drawing, so that weapons can be made
note: 1. When manufacturing equipment, you will see that you need three kinds of materials, and only one of the three materials can be
2. The higher the material level, the greater the probability of manufacturing high-quality equipment
I often say that with the birth of yu'ebao as a symbol, China's Internet finance is surging and ahead of the tide, making all countries in the world look at it with new eyes. However, e to the lack of understanding of the nature of Internet finance, the traditional financial conservative ideas vigorously fight back, and the regulatory authorities are facing the enemy, and the supervision under the control of conservative thinking finally makes this business almost strangled
as China has launched another round of "campaign" to rectify and regulate Internet finance, developed countries in Europe and the United States take the opportunity to increase investment and vigorously develop science and technology finance. Artificial intelligence investment consultant, digital currency supported by blockchain technology, and various artificial intelligence financial services, including face recognition, fingerprint encryption, intelligent voice and other technologies, have been applied to the financial field
the development of science and technology finance can be described as rapid changes. The world's large asset management companies, insurance companies and so on have started to put into use from R & D to proction; Bitcoin, the digital currency of blockchain, has entered the field of settlement in Japan and Canada. The United States has applied blockchain to oil market transactions
China has obviously fallen behind in the development of science and technology finance. It can be seen from the above PwC survey of bank employees. At present, the research and use of blockchain in China's commercial banks are shallow conceptualized
in early January 2017, the postal savings bank launched an asset custody system based on blockchain. The asset custody system is based on the four mechanisms of blockchain, including shared ledger, smart contract, privacy protection and consensus mechanism. It selects the asset consignor, asset manager, asset trustee, investment consultant, and so on The five roles including auditor participate in the asset custody business scenario, which realizes the information sharing of custody business and the supervision of asset usage. In particular, it is worth noting that the blockchain solution realizes multi-party real-time sharing of information, eliminates the process of repeated credit verification, and shortens the original business links by about 60% - 80%
Yi Huiman, chairman of ICBC, also said at the 2016 annual report performance conference, "for blockchain Technology, the research and application of our bank is very smooth, It is expected to be put into practical application in 2017. We have completed the system construction of the prototype of financial proct trading platform based on blockchain technology. This system provides customers with point-to-point financial asset transfer and trading services on the basis of traditional trading mode, and is expected to meet you soon. "
Everbright Bank has applied the blockchain technology to the actual business, and its science and technology innovation laboratory has successfully hatched a blockchain public donation system for the bank's "mother's water cellar" charity project. Li Li, general manager of Information Technology Department of Everbright Bank, said that the development of new information technology in the era of financial technology has brought new forces of change for scientific and technological innovation. More effective supervision on the source and use of charitable funds has improved the transparency of public donations, which helps to promote the healthy development of charitable undertakings. From the perspective of banks, the safe and reliable transmission of public love to charities improves the social image and credibility of banks
Li Jianhong, chairman of China Merchants Bank, also disclosed in the 2016 performance report that the bank has invested 5 billion yuan in it every year, which has led the instry, but it still needs to invest 1% of its profit in financial innovation and financial technology from 2017
for digital currency, the most important component of science and technology finance, blockchain technology is extremely important. Blockchain technology is likely to reconstruct the underlying architecture of the financial instry. Blockchain has the advantages of recing trust risk, flexible architecture, recing operating costs, and realizing shared finance. It can be widely used in peer-to-peer transactions, registration, right confirmation, intelligent management and other businesses. There can be no doubt about this
we must understand blockchain technology in a higher field. The global future trend is decentralization. This trend must be grasped by financial institutions. And blockchain is the core technology of financial decentralization, who controls who takes the initiative
why is the trend of global decentralization in the future? We need to learn from the world's most popular Internet "prophet" - Kevin? The great prediction of Kevin Kelly. Many of the future technologies mentioned in KK's book out of control published in 1994, such as Web2.0, bitcoin, P2P and social media, have been implemented one by one. The current popular wisdom, cloud computing, Internet of things, virtual reality, agile development, cooperation, win-win, symbiosis, coevolution, network community, network economy, sharing economy and so on all come from the book out of control
KK believes that the future network should be evenly distributed, that is to say, the network connection is the free connection between indivials. In this way, when the network is attacked, it will not be greatly affected. It can even be said that such a network cannot be defeated. But the above is based on the ideal state. At present, the Internet is not so developed that an indivial (or a small collective Center) can generate so many connections. Secondly, the uniform distribution of the network makes the indivial access to a node longer. If the network is not developed enough (for example, now), the response of the network will be very slow
on the contrary, if the network is concentrated on some large nodes, as long as these large nodes are well protected, the stability of the network will not be greatly affected. From the indivial point of view, as long as I go to Google and the Internet, the Internet will not be paralyzed for me< However, the trend of decentralization will continue. The network will change from hundreds of large nodes to millions of large nodes. Each small network will be regarded as a node, and the connection between nodes will extend in all directions. For example, the connection between the two large networks of China and the United States will no longer be a countable submarine optical cable, but a myriad of links, a topology that can't be calculated, and I'm afraid the wall won't be able to be built at that time
one of the characteristics of blockchain technology is point-to-point decentralization. The world is constantly decentralizing from bureaucracy. We have witnessed a lot of decentralization in technology and business, and we can think that this trend will continue in the next 20 years
as long as there is something central, we can discuss how to decentralize it. For example, banking. Banking has always been a very centralized instry, so we can talk about how to decentralize financial services, turn it into a sharing economy model, and share influence at the same time
one response to the decentralization process is sharing. Sharing is a verb expression of the process of decentralization, which is why we have a lot of sharing communities. We can share data, process, influence and information. The result of decentralization is the increase of sharing behavior. Experts in the past did not share financial information. If we want to study the reasons why people begin to share now, we must emphasize the quality and ability of "sharing"
back to the digital currency supported by blockchain technology, decentralized transaction is a technological change. Users can trade on this platform with authorization code, which will lead to indivial to indivial transactions, P2P loans and other behaviors. Banks will no longer exist. Bitcoin is a kind of electronic currency with great potential, but it has many problems that are not recognized, such as security problems. However, we should pay attention to it, because the decentralization of currency is also the trend in the future. KK believes that there is great potential in this field
in any case, we should believe in the predictions of such prophets as KK. China's science and technology finance can't get up early and catch up late< According to the survey report released by PricewaterhouseCoopers in mid April 2017, China's financial practitioners have not paid enough attention to financial technology. Among the widely used blockchain technologies, 30% of the respondents said they did not know blockchain technology at all, 40% of the respondents have only read about blockchain technology in the news, which shows that the popularity of financial technology is still low
I often say that with the birth of yu'ebao as a symbol, China's Internet finance is surging and ahead of the tide, making all countries in the world look at it with new eyes. However, e to the lack of understanding of the nature of Internet finance, the traditional financial conservative ideas vigorously fight back, and the regulatory authorities are facing the enemy, and the supervision under the control of conservative thinking finally makes this business almost strangled
as China has launched another round of "campaign" to rectify and regulate Internet finance, developed countries in Europe and the United States take the opportunity to increase investment and vigorously develop science and technology finance. Artificial intelligence investment consultant, digital currency supported by blockchain technology, and various artificial intelligence financial services, including face recognition, fingerprint encryption, intelligent voice and other technologies, have been applied to the financial field
the development of science and technology finance can be described as rapid changes. The world's large asset management companies, insurance companies and so on have started to put into use from R & D to proction; Bitcoin, the digital currency of blockchain, has entered the field of settlement in Japan and Canada. The United States has applied blockchain to oil market transactions
China has obviously fallen behind in the development of science and technology finance. It can be seen from the above PwC survey of bank employees. At present, the research and use of blockchain in China's commercial banks are shallow conceptualized
in early January 2017, the postal savings bank launched an asset custody system based on blockchain. The asset custody system is based on the four mechanisms of blockchain, including shared ledger, smart contract, privacy protection and consensus mechanism. It selects the asset consignor, asset manager, asset trustee, investment consultant, and so on The five roles including auditor participate in the asset custody business scenario, which realizes the information sharing of custody business and the supervision of asset usage. In particular, it is worth noting that the blockchain solution realizes multi-party real-time sharing of information, eliminates the process of repeated credit verification, and shortens the original business links by about 60% - 80%
Yi Huiman, chairman of ICBC, also said at the 2016 annual report performance conference, "for blockchain Technology, the research and application of our bank is very smooth, It is expected to be put into practical application in 2017. We have completed the system construction of the prototype of financial proct trading platform based on blockchain technology. This system provides customers with point-to-point financial asset transfer and trading services on the basis of traditional trading mode, and is expected to meet you soon. "
Everbright Bank has applied the blockchain technology to the actual business, and its scientific and technological innovation laboratory has successfully hatched a platform for the application of the blockchain technology in this field
simply speaking, bitcoin mining is to use your bitcoin mining hardware to calculate mathematical problems, confirm network transactions, and ensure the security of the entire bitcoin network system. In return, you can get a certain amount of bitcoin reward
the bitcoin you mine is a kind of property. You can exchange it into RMB through bitcoin trading platform, commonly known as cash out
at present, bitcoin mining needs professional ASIC miner, such as Avalon miner, which has been leading the instry. If you are Xiao, I suggest you buy Avalon 3 single mode miner. Of course, you can also buy Avalon mining machines with higher computing power
there are risks in mining, so you need to be careful in purchasing machine!