Financial theory is enough to buy digital currency
ways to purchase digital currency:
at present, digital currency is more like an investment proct. Due to the lack of a strong guarantee institution to maintain its price stability, its role as a measure of value has not yet appeared, nor can it be used as a means of payment. As an investment proct, the development of digital currency is inseparable from trading platforms, operating companies and investors
trading platforms play the role of trading agents, while some play the role of market makers. The profits of these trading platforms come from the current expenses and premium income of investors trading or holding digital currency
1. Investors need to register accounts first, and obtain digital currency accounts and US dollar or other foreign exchange accounts at the same time
2. Users can use the money in their cash account to buy and sell digital currency, just like buying and selling stocks and futures
3. The trading platform will sort the buying and selling requests according to the rules and start matching. If the requirements are met, the transaction will be completed
4. Due to the difference between the trading volume submitted by users, the trading request can be partially executed
take RBM operated by professional operation company opencoin as an example: ripple protocol was originally designed based on payment method, and its design idea was based on acquaintance relationship network and trust chain. Using ripple network for remittance or loan, the premise is that the payee and the payer must be friends or have common friends. Otherwise, the trust chain between users and other users cannot be established, and the transmission cannot be carried out
extended information:
the characteristics of digital currency are as follows:
1, low transaction cost
compared with traditional bank transfer, remittance and other methods, digital currency transaction does not need to pay fees to the third party, and its transaction cost is lower, especially compared with the cross-border payment of high handling charges to payment service providers
2, fast transaction speed
the blockchain technology used in digital currency has the characteristics of decentralization, and it does not need any centralized organization similar to the clearing center to process data, so the transaction processing speed is faster
3, high anonymity
in addition to the physical form of currency can achieve peer-to-peer transactions without intermediary participation, one of the advantages of digital currency compared with other electronic payment methods is that it supports remote peer-to-peer payment, and it does not need any trusted third party as intermediary
both sides of the transaction can complete the transaction in a completely strange situation without mutual trust, so they have higher anonymity and can protect the privacy of the traders, but at the same time, they also create convenience for cyber crime, which is easy to be used by money laundering and other criminal activities
at present, most of the larger digital currency exchanges, such as binance, coinbase, Kraken and bitfinex, are abroad, and even some exchanges have stopped registering new users, which makes it inconvenient for domestic users to buy. If you want to invest in digital currency, there are also some digital currency P2P trading platforms which are located overseas but provide Chinese services. However, we should pay attention to the risks and whether the platform is safe and reliable
in fact, there is only a line between investment and speculation in digital currency. Although judging from the price changes in the past few years, such projects have the characteristics of high return, compared with the existing investment channels, such projects also have very high risks. It can be expected that some countries will issue digital currency with public power endorsement in the future, but we can't make a clear judgment about the future trend of the existing digital currency. But whatever you do, you need to be aware of the risks.
2. Tongji University has a perfect reward and assistance system for non directional employment academic degree postgraates and non directional employment professional degree postgraates. For the non directional employment academic degree master students and non directional employment professional degree master students who are included in the award and assistance system, they can all get a full academic scholarship of 8000 yuan / academic year after enrollment. For the postgraates who are included in the scholarship system, they can also get a grant of no less than 600 yuan / month, which will be paid for 10 months every year. In addition, non directional employment graate students who are included in the award and assistance system can apply for the post of assistant teaching and management, and get additional funding.
one. Leverage. At present, in order to earn huge profits, many investment banks use 20-30 times leverage operation. Assuming that a bank a's own assets are 3 billion, 30 times leverage is 90 billion. That is to say, bank a borrows 90 billion yuan for investment with 3 billion yuan of assets as collateral. If the investment profit is 5%, then bank a will get 4.5 billion yuan of profit. Compared with its own assets, this is 150% windfall profit. On the other hand, if the investment loses 5%, then bank a will lose all its assets and still owe $1.5 billion
two. CDs contract. Due to the high risk of leverage operation, according to the normal rules, banks do not operate such risky operations. So someone came up with a way to take leverage investment as "insurance". This kind of insurance is called CDs. For example, bank a finds institution B to avoid leverage risk. Institution B could be another bank, it could be an insurance company, and so on. A said to B, how about you do default insurance for my loan? I will pay you 50 million insurance premium every year for 10 consecutive years, with a total of 500 million. If my investment does not default, then you will take the insurance premium in vain. If you default, you will compensate for me. A I think that if I don't default, I can earn 4.5 billion yuan, of which 500 million yuan will be used for insurance, and I can make a net profit of 4 billion yuan. If there is a breach of contract, there will be insurance to compensate. So for a, it's a business that makes no loss. B is a smart person, did not immediately agree to a's invitation, but went back to do a statistical analysis, found that less than 1% of the default. If you do business with 100 companies, you can get 50 billion yuan of insurance money in total. If one of them defaults, the maximum amount of compensation is no more than 5 billion yuan. Even if two companies default, you can still earn 40 billion yuan. A. B both sides thought the deal was good for them, so they made a deal immediately and everyone was happy
three. CDS market. After B has done the insurance business, C is jealous. C went to B and said, how about you sell me these 100 CDs? Each contract will give you 200 million yuan, a total of 20 billion yuan. B thinks that it will take 10 years for me to get my 40 billion yuan. Now there will be 20 billion yuan as soon as I change hands, and there is no risk. Why not do it? Therefore, B and C will close the deal immediately. In this way, CDs, like stocks, flows to the financial market and can be traded. In fact, after C got these CDs, it didn't want to wait 10 years to collect another 20 billion yuan. Instead, it listed them for sale with a price of 22 billion yuan; D saw this proct, calculated it, 40 billion minus 22 billion, there is 18 billion to make, this is the "original stock", not expensive, bought it immediately. As soon as they changed hands, C made 2 billion. Since then, these CDs have been copied repeatedly in the market, and now the market value of CDs has been copied to 62 trillion US dollars
four. Subprime. The above a, B, C, D, e, f... Are making a lot of money, so where does the money come from? Basically, the money comes from the profits of a and its like-a investors. Most of their profits come from American subprime loans. People say the subprime crisis is e to lending money to the poor. I don't think so. The author thinks that the subprime mortgage is mainly given to ordinary American real estate investors. These people's economic strength was only enough to buy their own house, but seeing the rapid rise of house prices, they started the idea of real estate speculation. They mortgage their houses to buy investment houses. This kind of loan interest should be above 8% - 9%, which is difficult to deal with with with their own income, but they can continue to mortgage their house to the bank, borrow money to pay the interest, and set up a white wolf empty handed. At this time, a is very happy that his investment is making money for him; B is also very happy that the market default rate is very low and the insurance business can continue to develop; C, D, e, F and so on make money
five. The subprime crisis. When the house price rises to a certain extent, it will not go up, and no one will take over the offer. At this time, real estate speculators are as anxious as ants on a hot pot. The house couldn't be sold, and the high interest kept paying. Finally, on a day when there was no way out, the house was left to the bank. At this point, a default occurs. At this time, a feels a little sorry that he can't make a lot of money, but he can't lose there. Anyway, B has insurance. B doesn't worry. Anyway, the insurance has been sold to C. So where is the CDs insurance now? It's in G's hands. G has just spent 30 billion to buy 100 CDs from F. before it has time to change hands, it suddenly received news that these CDs were downgraded, and 20 of them defaulted, far exceeding the original estimated default rate of 1% to 2%. Each default will cost $5 billion in insurance, with a total cost of $100 billion. Plus the $30 billion CDs acquisition fee, G's loss totaled $130 billion. Although G is one of the top 10 institutions in the United States, it can not afford such a huge loss. So G is on the verge of bankruptcy
six. Financial crisis. If G goes bankrupt, the insurance that a spent 500 million dollars to buy will be ruined. What's worse, because a uses leverage principle to invest, according to the previous analysis, a can't pay off all its assets. So a is in immediate danger of bankruptcy. In addition to a, there are A2, A3,..., A20, all of which should be prepared for bankruptcy. Therefore, G, a, A2,..., A20 came to the U.S. Secretary of the Treasury together and lobbied with tears. G must not go bankrupt. Once it goes bankrupt, everyone will be ruined. As soon as the Treasury secretary was soft hearted, he nationalized g. since then, the insurance of a,..., A20 totaled $100 billion, all of which were paid by American taxpayers
seven. The dollar crisis. The market price of the 100 CDs mentioned above is 30 billion. The total value of CDS market is 62 trillion. Assuming that 10% of them default, there will be 6 trillion default CDs. That's 200 times more than 30 billion. If the US government buys 30 billion CDs, it will lose 100 billion. So for the rest of the defaulting CDs, the US government will have to pay $20 trillion. If you don't pay, you have to watch A20, A21, A22 and so on close down one by one. No matter what measures are taken, a big depreciation of the US dollar is inevitable
the assumptions and figures used in the above calculation may differ from the actual situation, but the severity of the U.S. financial crisis cannot be underestimated.