The loopholes of digital currency OTC

1.

Basic routine: the "trading market" of MLM digital currency is basically controlled by specific institutions. In order to attract investors' investment in the early stage, the currency price may be very high. Once the time is ripe, it will be sold intensively, and the price will plummet, and the investors will lose all their money

There are three characteristics of digital money MLM:

1. Digital money is a real proct, and it is highly packaged

2. The participants can get a head pulling reward, and the prize is the digital currency itself

3. Digital currency will appreciate with the increase of participants in the scam. In the cycle of digital currency appreciation, the number of participants who can obtain digital currency will also increase, and the participants, including the lowest level participants, will also gain, but in the cycle of devaluation, the bottom level participants often lose a lot

in 2017, the Internet Finance Association of Jiangsu Province issued the "internet pyramid selling identification guide", which named 26 so-called digital currencies as illegal pyramid selling projects covered or suspected to be covered with digital currency. They are: treasure money, Baichuan money, SMI, MBI, mark money, Diablo money, mmm, Fuda compound wealth management, carat money, V treasure, Vicat money, petroleum money, Huaqiang money, CB aiib Hong Kong Group, Yuansheng, Morgan money, beta money, WorldCom, u money, Jubao, 21st century fox, Wanxi wealth management, Wanfu money, Wuxing money, Yi money, Zhonghua money, etc

extended materials:

five ways to distinguish whether digital currency is pyramid selling currency:

1. Issuance mode

virtual currency does not rely on specific monetary institutions. It is proced by a large number of calculations according to specific algorithms, and is a decentralized issuance mode. Each different terminal node is responsible for maintaining the same account book, and the maintenance process is mainly to package and encrypt the transaction information by the algorithm, while the MLM currency is mainly issued by a certain organization, and the profit is made by pulling the head

2. Transaction mode

virtual currency is a kind of sporadic transaction spontaneously formed in the market, which is graally completed by a third party establishing an exchange after the scale is formed. The MLM currency is issued by an institution and traded on its own platform

3. Implementation method

virtual currency itself is an open source program, which is maintained in GitHub community. The parameters and methods of the total amount limit are shown in the open source code. The open source of MLM currency is completely ing other people's open source code, and there is no use of open source code to build programs, so its essence is controlled by the website like Q currency

4, whether to give the source code link

General decentralized digital currency will give the source code link in the prominent position of the official website, so as to show the operation mechanism of the monetary system openly and transparently. The MLM currency focuses on the transaction process of recharge purchase, but does not mention its operation mechanism. Even the website does not have the link address of the source code

5, whether the official website starts with HTTPS

generally, the addresses of the official website and trading website of decentralized digital currency start with HTTPS, and the purpose is that this kind of website can well protect the user's data from illegal theft. But the official website of MLM currency, trading website and other related websites do not start with HTTPS

2. Is it true that someone in my circle of friends has issued large-scale digital currency loopholes to cash out? I don't think you should believe it. At present, the central bank is at an adaptive stage, and there are still many immature aspects. Is it true that someone in my circle of friends has issued large-scale digital currency loopholes to cash out? I don't think you should believe it. At present, the central bank is at an adaptive stage, and there are still many immature aspects. Is it true that someone in my circle of friends has issued large-scale digital currency loopholes to cash out? I don't think you should believe it. At present, the central bank is in an adaptive stage, and there are still many immature places..

3. The loophole arbitrage of using digital currency is talent, which ordinary people can't do

4.

It is not illegal, but the legal risk can not be ignored

in September 2017, after the central bank and seven ministries and commissions jointly issued the "notice on the risk of token financing", which explicitly prohibited the trading of RMB and digital currency and the issuance of ICO (abbreviation of initial coin offering, which means the initial public offering of digital currency), the heat of hyping digital currency is still hard to rece

the current situation is that although the official ban, but in reality the transaction is still in progress, which will also lead to a series of legal problems. High return is accompanied by high investment risk, as well as legal risk that can not be ignored. After the central bank stopped the digital currency exchange in September 2017, some exchanges went overseas, and investors also went to overseas markets to invest and trade, or to find counterparties through Internet instant messaging software

extended information:

related risks:

1. The so-called credit risk is e to the lack of reliable third party participation, and the transaction between the two sides completely depends on the integrity. Once there is a breach of contract, it is difficult to protect the rights and interests

2. The so-called policy risk is that the attitude of various countries towards the special currency will lead to sharp fluctuations in the price of the currency, which will have a certain impact on the OTC trading; The so-called relief vacancy risk refers to the dispute caused by OTC transactions, which makes it difficult for all parties to obtain evidence and provide evidence

3. The public security organs often encounter the problem that there is no professional institution to price bitcoin in case filing or legal review, and our criminal law stipulates that the criminal object of theft is someone else's finance with economic value, because the economic value of bitcoin can only be proved by the trading platform according to the price displayed on the trading platform software, This kind of pricing is sometimes not recognized by public security organs and courts< br />

5. It's not your problem. It's automatically thawed in six months
if you give someone else's ID card or apply for someone else's card, you need to cooperate with the local public security bureau to cooperate with the investigation. No problem will be solved

6. It depends on what kind of exchange it is. There is no problem with the big ones, such as the coin net in the fire coin net. It is suggested to be careful with some small platforms. If satisfied, please accept

7. Hello! yes.

8. China global currency is an imitation of GEC with the same interface and mode as GEC; It is a new currency trading financial investment platform. China global currency is a kind of virtual currency, which is not protected by law
global currency came out in 2012, it is a kind of cryptocurrency. Universal currency is the first cryptocurrency of certificate of equity type. Cryptocurrency is a kind of digital currency based on blockchain technology. By taking blockchain as the core, building big data and artificial intelligence, global currency makes the cross-border payment scene more perfect, makes the transaction mode have better trust mechanism, and makes the transaction cost and resistance smaller
five ministries and commissions, including the China Banking and Insurance Regulatory Commission, jointly issued the "tips on preventing the risk of illegal fund-raising in the name of" virtual currency "and" blockchain ", pointing out that many criminals, under the banner of financial innovation, use" virtual currency "," blockchain "and" digital currency "to speculate and raise funds, or even engage in illegal activities such as fraud and pyramid schemes
the majority of investors treat blockchain, virtual currency and other investment projects rationally, establish a correct and rational investment concept, recognize the risk level, and then improve their risk awareness
response time: October 14, 2020. Please refer to the official website of Ping An Bank for the latest business changes

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