Reasons for the failure of virtual cryptocurrency

1. The teacher of Yingfu College of Finance and economics told me before that the cryptocurrency trading platform is the most critical part of the whole digital currency, providing users with a secure platform for purchase and transaction. However, at present, the trading platform still needs to face many risks

in terms of security, the cryptocurrency trading platform has a large number of digital assets, and the currency security system has been attacked by hackers, resulting in panic and a large number of selling in the whole market

secondly, the cryptocurrency trading platform has been subject to the regulatory attention of various countries and may be subject to rectification or even complete shutdown.

2. 1. There is a risk of return to zero (that is, the value of your currency is 0)
2. There is a risk of running away

3. It's not illegal, but it's illegal to use digital currency to open a platform for financing. The platform can't finance, and private transactions can.

4.

The collapse of cryptocurrency market, some experts said frankly, from the reality, including bitcoin virtual currency in the financial settlement system of various countries, does not have the function of currency trading< virtual currency has the attribute of financial derivatives, its price trend is also affected by many factors , sudden regulatory trends, news and public opinion and major technological changes, etc. may make its trading price fluctuate significantly

In addition to the above reasons, another reason is the excessive concentration of virtual currency holders. Virtual currency trading is mainly carried out through the third party, namely the virtual currency exchange, and the trading platform becomes the largest holder, which also makes it possible for the makers to form a group and control the currency trading price

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extended information

the rapid decline of bitcoin has caused heavy losses to investors:

"mining" is hot and profitable, but the risk is also huge. Any market fluctuation will cause violent turbulence. In the past weekend, there was a wave of "crash", cryptocurrency collective flash

as of the noon of April 18, according to the 24-hour rise and fall, bitcoin has plummeted by 17%, Ethereum has plummeted by 20%, coin an has plummeted by 17%, reborn has plummeted by 26%, doggy has plummeted by 19%, Leyte has plummeted by 28%, BoChang has plummeted by 25%, and grapefruit has plummeted by 29%. In particular, the rapid decline of bitcoin has caused heavy losses to investors, reaching 4.4 billion US dollars in one hour

5.

The sudden drop is e to various reasons. The first is the policy supervision problem

According to Yingwei financial news, several online reports attributed the decline to market speculation that the US Treasury Department may crack down on money laundering through digital assets. It is understood that US Federal Reserve Chairman Powell recently publicly said that he does not support virtual currencies, and he believes that they are not really actively used for payment

in addition, European Central Bank President Lagarde in January this year aimed at the role of bitcoin in promoting criminal activities, saying that the cryptocurrency has been promoting "interesting business"; The Central Bank of Turkey has issued "Regulations on the prohibition of encrypted assets in payment", announcing that payment with cryptocurrency will be prohibited from April 30. The government also pointed out that cryptocurrency wallets are easy to be stolen, and irreversible transactions are also worrying

in March 2020, the Supreme Court of India rejected the Central Bank of India's 2018 policy of prohibiting banks from participating in cryptocurrency related transactions. This news led to the influx of Indian investors into the cryptocurrency market, but then, the Central Bank of India once again expressed concern about cryptocurrency, and some officials disclosed that India will propose a new bill to ban all cryptocurrencies...

policy regulation has always been the most serious problem facing cryptocurrency, and in addition to that, The CEO of coinbase just mentioned above cashed out 290 million US dollars by selling the company's shares, and the accumulated internal cash out exceeded 4.6 billion US dollars; Alexia Haas, chief financial officer of coinbase, cashed out about $99.32 million at $388.73. All of these actions have caused instry panic

extended information:

there are many advantages. Cryptocurrency is in a bull market recently

in the last two months, cryptocurrency Market has seen a collective rise and prosperity. Take bitcoin as an example. Since it broke through the $50000 mark again in early March, the price of bitcoin has been steadily higher than that level. Bulls even pushed the price up to an all-time high of nearly $65000. Behind this, it is the news that PayPal has entered the field of cryptocurrency, and more importantly, it is the attention of traditional capital

In February this year, JPMorgan Chase, the largest financial services institution in the United States, will launch JPM coin, an encrypted digital currency, to settle payment transactions between customers in real time; Big banks, including Goldman Sachs and Citigroup, are also expanding their services to cryptocurrency

6.

it is understood that the collapse of cryptocurrency was affected by the news that the US Treasury Department accused a number of financial institutions of using cryptocurrency to launder money

why can we use cryptocurrency to launder money

First of all, cryptocurrency is a financial instrument in the market. It is also important to measure that a financial instrument only represents value rather than intrinsic value itself - stocks, bonds, futures, currencies, etc. are only numbers in large-scale computers, if they do not have fundamental value with specific real assets in law

this means that the market price of financial instruments can only be obtained in two ways:

the first is to reflect the growth of the intrinsic value of relevant assets through the market, or through the situation that there is no change in the real world, but through the fact that market participants are buying because others are buying

the second case is known as the market bubble, which has existed since the famous tulip fever in Holland in seventeenth Century and the huge Internet market hype in early twentieth Century. Every market bubble has the same trend: the market has become so electrified that everyone seems to have forgotten the true value of assets represented by financial instruments. RRRRR}

in other words, people buy bitcoin because they intend to make a lot of money quickly , not because they see any intrinsic utility in bitcoin, nor because they intend to invest in bitcoin for a long time (reading years, not months)

7. Jinan long distance bus station
every hour
bus to Jining
the route is generally Jinan west Expressway
take Jingfu
get off the expressway from Qufu
then to Jining bus station (Jining called South Station)

8. In general, the salary card can be a class II card. The class II card only has restrictions when you transfer money or withdraw money, and does not affect the employer's salary.

9. Ask the people you know if they have bought or sold this, and see what their situation is. It is estimated that they have been blocked by the government