Korean digital currency on Wall Street

1.

The concept of bitcoin was founded by Nakamoto

On December 12, 2010, when bitcoin graally became a hot topic, he quietly left and disappeared from the Internet

As a descendant of samurai, Nakamoto was born in 1949 in Beppu, Japan. His mother, quanzi, was a Buddhist and brought him up in poverty

When his parents divorced in 1959, Nakamoto's mother remarried and immigrated to California with her three sons. Nakamoto and his stepfather don't get along well, but according to his younger brother Arthur, Nakamoto showed his talent in mathematics and science when he was very young, but also showed his "fickle and strange interest"

Nakamoto graated from Caltech, majoring in physics. Upon graation, he joined Hughes Aircraft and worked in defense and electronic communications. Later, Nakamoto worked for the U.S. military, and his experience was classified as a state secret. Now searching his files, his life is a blank

In 2008, in an e-mail group discussing information encryption on the Internet, he published an article outlining the basic framework of the bitcoin system. In 2009, he established an open source project for the system, officially announcing the birth of bitcoin. On December 12, 2010, when bitcoin graally became the climate, he quietly left and disappeared from the Internet

2.

Invisible bitcoin can not only make people rich or poor overnight, but also bring people worry about their lives

According to Ukrainian media reports quoted by the daily telegraph, on Tuesday (December 26), Pavel Lerner, CEO of the British bitcoin exchange exmo, was kidnapped after leaving his office in Kiev, Ukraine, and dragged into a black galloping car by a group of masked people

after the above news came out, a spokesperson of exmo told the daily telegraph that we are doing our best to speed up the search for Lerner and welcome all clues from the outside world. Exmo's business is running as usual and all users' funds are absolutely safe. According to the company's official website, the platform has more than 900000 users

after the kidnapping incident attracted public attention, exmo also announced on official twitter on Thursday that it had been attacked by DDoS (distributed denial of service) with the intention of destroying platform transactions

according to Wall Street reports, at the beginning of this month, when bitcoin rose to more than US $13000, the payment system of nice hash, the world's largest digital currency mining platform, was hacked and bitcoin in users' wallets was stolen. Bitcoin millionaire, a bitcoin information website, has since estimated that as many as 4736 bitcoins were stolen by hackers, with a total value of more than $62 million

interestingly, as a foreign netizen imagined, after the kidnappers received the ransom, if bitcoin continued to appreciate, it would be OK. If bitcoin collapsed before the gloves turned, wouldn't it be a "huge loss"

In fact, this is also the old question in the minds of many investors - how long can bitcoin's investment boom last

On December 2, when talking about bitcoin in public activities, pan Gongsheng, vice governor of the people's Bank of China, said that it was a decisive and correct decision for regulators to shut down bitcoin trading platform and stop ICO a few months ago

According to BBC news, on December 14, Andrew Bailey, CEO of the financial conct authority (FCA), the UK's top regulator, issued a warning to investors, saying that bitcoin buyers should be ready for "full compensation". Bitcoin lacks the endorsement and support of the government and the central bank, and its risk level is the same as gambling, he said

on Thursday (December 28), the South Korean government announced the countermeasures to combat virtual currency speculation, and considered closing some virtual currency transactions, so as to curb excessive speculation. In addition, the South Korean government has decided to implement the real name system of virtual currency trading and expand the investigation authority of the Fair Trade Commission, the anti-monopoly law enforcement agency

In a statement, the South Korean government said that cryptocurrency speculation in South Korea has gone too far and has become irrational, according to the report. The government can no longer allow abnormal speculation to develop

the Indian authorities also issued a warning. On Friday, India's finance ministry warned investors about the risks of cryptocurrencies such as bitcoin, saying digital currency investments look like a Ponzi scheme, Reuters reported. In a statement, India's Ministry of Finance said investors and other participants in digital currency transactions were "entirely at their own risk" and advised that it was best to avoid such investments

but from the perspective of optimists, bitcoin is not as static as gold. As a virtual currency, its software code is constantly developing, and its functions can be constantly adjusted, improved and updated, and its value can be realized in unimaginable ways, such as, Many bitcoin fans are looking forward to bitcoin's "lightning network" (an improved way to facilitate payment). If bitcoin gets more attractive functions in the process of continuous evolution, people can even use it for convenient and fast cross-border payment

according to China Securities Journal, based on the sustainability of bitcoin development, bitcoin supporters believe that even if the market value of cryptocurrency expands to 20 times the current value, the market will not go crazy. However, as far as bitcoin itself is concerned, with more and more new technologies coming out, bitcoin's share in the cryptocurrency market will show a downward trend in the future

Hong shuning, a senior researcher of Suning Institute of financial research, recently wrote an article, imagining two situations of "truly killing bitcoin":

first, all bitcoin development teams are conservative and complacent, no longer absorbing the latest scientific and technological achievements to improve themselves, resulting in the emergence of a new digital currency with all aspects of technical indicators exceeding bitcoin, It is widely accepted by the society and then replaces bitcoin. This is the failure of bitcoin, but also the success of virtual digital currency

Second, there are serious loopholes in the bitcoin protocol or wallet software, which lead to the security of the whole bitcoin system can not be guaranteed, a large area of funds are stolen, sold at a low price and uncontrollable in the short term, and the social confidence in bitcoin is completely lost

so. In this world, money is easy to use

3. The rise of all digital currencies before [cp] is the price bubble.
we saw six big bubbles, one more serious than one, and each was epic. But when you look back, they're like dots on a chart. With every bubble emerging, trading activity soared, which is what we see now.
many investors have heard about the huge profits of early cryptocurrency investment, and they have entered the market to buy cryptocurrency in order to get higher profits. This has driven the valuation of major cryptocurrencies such as bitcoin, Leyte, ethereal and so on to soar

however, recently, the soaring market of the currency circle has ended and replaced by the bear market

just yesterday, bitstamp data showed that bitcoin fell below the $6000 mark, which was broken again after it fell below the $6000 mark at the end of June. In just two weeks, bitcoin has entered a bear market, returning to bear market for the fourth time this year. Compared with the highest level of the year set at the beginning of the year, bitcoin has long been "cut"

recently, ether currency fell by 17%, the biggest one-day drop since March. Ripple, ether and other digital currencies all fell

it is generally believed in the market that the US Securities and Exchange Commission (SEC) delayed the approval of issuing bitcoin ETF is the main reason for this round of slump. As the ETF is the first digital monetary financial proct, the setback on its listing has dealt a huge blow to the market

according to the analysis of Wall Street, if bitcoin and Ethernet become the new mainstream means of financial payment or the underlying foundation of other commercial applications, their prices will naturally drive up. On the contrary, the price downturn of digital currency may last for quite a long time[/ cp]

4.

Since the advent of bitcoin, it is very likely that no quarter has performed as badly as the first quarter of this year

according to the website coinmarketcap, which tracks the price and market value of several digital currency exchanges, the trading price of bitcoin has dropped from above $14000 on January 1 to less than $6900 as of the time of issue, with a decline of more than 50%, and the market value has dropped from nearly $239 billion to about $115.5 billion

In fact, bitcoin is only the epitome of the overall performance of digital currency. After the closing of the last trading day of U.S. stocks in this quarter, an article on Wall Street on the morning of the 30th mentioned that the performance of digital currency in the first quarter was the worst in history, and bitcoin fell below the 200 day moving average

just at 6 a.m. Beijing time on the 30th, bitcoin also fell below the $7000 level. When it fell below $7500 on the evening of the 29th, Wall Street mentioned that some analysts pointed out that bitcoin was close to the "death cross", that is, the 50 day moving average was close to lower than the 200 day moving average. From a technical point of view, this often means that the asset will go down further

in addition, negative factors such as regulation also put pressure on bitcoin and other digital currencies. For example, when bitcoin fell below $8000 two weeks ago, Wall Street heard that the media said that the US Securities Regulatory Commission issued subpoenas and concted investigations on digital currency hedge funds, and Google announced the ban on ICO and other digital currency advertisements

Coincidentally, in the early morning of the 30th, it was also reported that LinkedIn, a professional social network, will start to ban digital currency advertisements such as ICO

however, from a technical point of view, some people say that the situation of bitcoin is not so bad

Brian Kelly, a trader at

fast money, believes that if the support line can continue to play a supporting role, the upward trend since last August has not actually changed

Forbes columnist Frank Holmes said that, just like the financial assets such as the U.S. stock market, bitcoin is bound to have a strong recovery after a big drop

5.

Invisible bitcoin can make people rich or lose money overnight, and it can also make people worry about their lives

The Daily Telegraph quoted Ukrainian media as saying that on Tuesday, December 26, the CEO of the British bitcoin exchange exmo, Pavel Lerner, was kidnapped after leaving his office in Kiev, the capital of Ukraine, and was dragged into a black Mercedes Benz by a group of masked people

after the above news came out, a spokesperson of exmo told the daily telegraph that we are doing our best to speed up the search for Lerner and welcome all clues from the outside world. Exmo's business is running as usual and all users' funds are absolutely safe

I hope you can treat the bitcoin issue rationally