Current situation of Laite coin business

It is not recommended to invest in lightcoin. Now lightcoin is generally not optimistic in the instry. Although lightcoin is known as the test proct of bitcoin, it fails. No innovation. Once claimed not to adapt to ASIC mining machine, but finally became a joke. Li Feng, the ancestor of Laite coin ASIC mining machine, said frankly that no currency is not suitable for ASIC mining machine. Since the announcement of the central bank in 2013, like bitcoin, lightcoin has been in a long-term downturn< br />

Domestic trading platforms continue to expand the proportion of trading volume in the market, which is in sharp contrast to the "running away" storm encountered by foreign bitcoin trading websites. Mt. GOx, once the world's largest bitcoin trading website, collapsed (on February 25, 2014, Mt. GOx was "declared" bankrupt and could no longer log on. On March 28, Mt. GOx officially filed for bankruptcy, and announced on its website on March 3, 2014 that about 850000 bitcoins were illegally transferred e to the exploitation of bitcoin system vulnerabilities.), It has attracted the attention of bitcoin investors all over the world. Subsequently, flexcoin, a bitcoin trading website in Singapore, suddenly went out of business. Due to the bankruptcy of Mt. GOx, bitcoin transactions on domestic websites also showed obvious fluctuations. On February 25, the domestic bitcoin price once dropped from nearly 3600 yuan to 3050 yuan (a few days later, the bitcoin price returned to around 3865 yuan). In spite of the international panic, the sharp drop in prices can not stop the enthusiasm of Chinese domestic investors
China's bitcoin trading websites have benefited from the storm. According to some data, the trading volume of bitcoin in mainland China now accounts for 70% ~ 80% of the global trading volume, and even the largest trading platform of bitcoin has been taken away by China's bitcoin trading websites. RMB is the second largest currency in the bitcoin exchange market, only next to the US dollar, accounting for 1 / 3. China's market has become a gathering place for bitcoin players. Some experts believe that the biggest reason for the rise in the price of bitcoin is the large number of Chinese buyers. According to the volume data of the largest bitcoin trading platform in China, after the collapse of Mt. GOx on February 25, 2014, the domestic trading volume dropped by nearly 7%, with 334562 transactions (about 1.1 billion yuan) on that day. After that, the trading volume graally stabilized. By March 4, the trading volume rose by 14.05%, reaching 339830 (1.4 billion yuan). From February 25 to March 13, the trading volume in 17 days was 9 billion yuan, 16% higher than that in the previous 17 days. On March 21, 2014, some media reported that the central bank issued a document on March 18, 2014 demanding that all bitcoin transactions be stopped before April 15, 2014. In response to this rumor, the central bank said publicly on the evening of March 21, 2014 through its microblog that it was a false report< At the same time, the central bank said that bitcoin's attitude has been clearly stated in the notice on preventing bitcoin risks (hereinafter referred to as the "notice") issued by the people's Bank of China and other five ministries and commissions
according to the circular issued by the central bank in December 2013, although bitcoin is known as "currency", it is not a real currency because it is not issued by the monetary authority and has no monetary attributes such as legal compensation and compulsion. In nature, bitcoin should be a specific virtual commodity, which does not have the same legal status as currency, and can not and should not be used as currency in the market
the circular also requires that all financial institutions and Payment institutions in China shall not carry out bitcoin related business. Financial institutions and Payment institutions shall not price procts or services with bitcoin, buy or sell bitcoin or act as central counterparties, underwrite insurance business related to bitcoin or include bitcoin into the scope of insurance liability, or directly or indirectly provide customers with other services related to bitcoin
including bitcoin registration, trading, clearing, settlement and other services for customers; Accept bitcoin or use bitcoin as a payment and settlement tool; Carry out bitcoin and RMB and foreign currency exchange services; Carry out bitcoin storage, custody, mortgage and other services; Issuing financial procts related to bitcoin; Take bitcoin as the investment target of trust, fund, etc. Official supervision
on the afternoon of December 5, 2013, the Central Bank of China and other five ministries and commissions jointly issued a notice to guard against bitcoin risks, requiring financial institutions and Payment institutions not to price procts or services with bitcoin. Within an hour of the news, bitcoin prices fell by 35%. At that time, as soon as the policies of the five ministries and commissions came out, the survival space of domestic bitcoin trading websites was greatly doubted. This day was jokingly called "the darkest day for domestic bitcoin entrepreneurs". However, the official policy has not affected the vigorous development of domestic trading platform. These bitcoin trading websites avoid these problems through flexible ways such as bank transfer, transfer recharge and point card recharge
the enthusiasm of the people
Chinese players have become the main crowd in the purchase of bitcoin, which has directly led to the popularity of Chinese bitcoin trading websites, and even the crown of "the world's largest trading platform" has rotated among bitcoin trading websites in China. This scale really surprised many people in the financial sector. Not long after China's regulatory authorities warned about the risks of bitcoin, domestic bitcoin trading websites did not suffer too much impact and quickly walked out of the haze
platform strategy
there are about 5-6 mainstream bitcoin trading platforms in China, which mainly earn income by collecting transaction fees and value-added service fees. However, the transaction rates of these bitcoin trading platforms are very low. With the trading volume and user scale, these trading platforms can also find other more profit points. The development of derivatives and the launch of new trading currencies have become a breakthrough: financial derivatives such as "financing currency" have also begun to appear, and other virtual currencies such as Leyte currency have also become expanded trading varieties
in addition, the "ambition" of these trading platforms is not only related to this, many trading platforms are also further expanding the upstream and downstream instrial chain, such as trying to develop bitcoin wallet, bitcoin payment tools and other applications
according to the report issued by the Institute of international finance, Chinese Academy of Social Sciences, the market price of bitcoin is determined by supply and demand, and public expectation plays an important role. Bitcoin trading network said on April 10, 2014 that it has received a telephone notice from Hangzhou Science and Technology City branch of Agricultural Bank of China that it will stop using the company's account for settlement of bitcoin related business on April 15. If it fails to stop within the time limit, the company's bank account will be frozen on April 15
bitcoin trading website niucoin has also received calls from instrial and Commercial Bank of China Hangzhou Jiulian sub branch, China Construction Bank Hangzhou Huaxing sub branch and Agricultural Bank of China Hangzhou Science and Technology City sub branch, saying that e to the notice from the superior operation management department, it will stop providing services for niucoin and close its account before April 12. However, there are still eight other banks, including Bank of China, China Merchants Bank and Instrial Bank, which have not been affected. In June 2014, California governor Jerry Brown signed a law to remove restrictions on non dollar currencies. California's old corporate law, section 107, forbids companies or indivials to issue non dollar currencies, that is, virtual currencies and bonus points, such as Amazon coins and Starbucks stars, which are technically illegal. The new bill repeals this provision, and its author, Roger Dickinson, points out that the law ignores the growing reality of alternative currencies and is therefore unrealistic
following the release of bitcoin based electronic signatures on Tuesday, British Finance Minister George Osborne signaled Britain's intention to legalize bitcoin or other similar currency system as digital currency, the Daily Mail reported in 2014.