Will virtual currency be lower than the issue price

1. In the future, the value of virtual currency only depends on the number of people with money, whether there are entities under it, and whether it plays a role in promoting social finance, which determines its success or failure; Any currency is issued by the head office, which is a process system. The circulation is the quantity issued by the decision-making level of the headquarters according to the market research, which is based on the accurate market research

2.

Strictly speaking, there is no issue price for bitcoin. In 2010, a programmer bought a pizza with 10000 bitcoins, the first bitcoin deal

bitcoin does not rely on a specific monetary institution. It is generated by a large number of calculations based on a specific algorithm. Bitcoin economy uses a distributed database composed of many nodes in the whole P2P network to confirm and record all transactions, and uses cryptography design to ensure the security of all aspects of money circulation

the decentralized feature and algorithm of P2P can ensure that it is impossible to artificially control the value of bitcoin by mass manufacturing. The design based on cryptography can make bitcoin only be transferred or paid by the real owner. This also ensures the anonymity of money ownership and circulation transactions. The biggest difference between bitcoin and other virtual currencies is that the total amount of bitcoin is very limited and it has a strong scarcity

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principle

starting from the essence of bitcoin, the essence of bitcoin is actually the special solution generated by a bunch of complex algorithms. A special solution is one of the finite solutions of a system of equations. Every particular solution can solve the equation and is unique. In the metaphor of banknotes, bitcoin is the number of the top word of a banknote. If you know the number of the top word on a banknote, you have the banknote

and the process of mining is to constantly seek the special solutions of the equations through huge amount of calculation. The equations are designed to have only 21 million special solutions, so the upper limit of bitcoin is 21 million

to mine bitcoin, you can download the special bitcoin computing tools, register various cooperation websites, fill the registered user name and password into the computing program, and then click the operation to officially start. After completing the installation of bitcoin client, you can directly obtain a bitcoin address. When others pay, you only need to paste the address to others, and you can pay through the same client

after installing the bitcoin client, it will assign a private key and a public key. You need to back up the wallet data containing your private key to ensure that your property is not lost. Unfortunately, if the hard disk is completely formatted, personal bitcoin will be completely lost

network bitcoin

3.

It is difficult to avoid the typical risks related to the payment system. In a specific virtual community, virtual currency payment activities have evolved into a "real" payment system, facing the typical risks related to the payment system: credit risk, liquidity risk, operational risk and legal risk. The nature, scale and ration of these risks largely depend on the design of the system or the degree of lack of liquidity. It is difficult for the network virtual currency scheme to avoid or control these risks. According to the core principles of important payment system (CP) issued by the bank for International Settlements (BIS), the network virtual currency scheme does not conform to most of the contents of CP, and does not belong to the systemically important payment system. Therefore, it will not cause or transmit shocks to the global financial system. At present, there is no systematic risk in the network currency system outside these virtual communities

2. Lack of corresponding supervision and protection mechanism

in the real economy, the central bank plays the role of lender of last resort and there is no default risk, so it can take actions in the case of payment crisis or unpredictable liquidity shortage to avoid chain reaction. In the network virtual currency scheme, network currency is not the settlement asset. Because network currency simply depends on the credibility of the issuer, it can not be widely accepted as a means of payment, so network currency can not be regarded as a safe currency. In addition, commercial banks are required to accept prudential supervision, which reces the possibility of default. The security of money in commercial bank accounts is higher than that of network currency. A fundamental risk of network currency is that the settlement institution of network currency scheme is not subject to any supervision, no institution is responsible for its behavior, and there is no investor / depositor protection mechanism, which causes the user to bear all the risks

(4) risk of absence of supervision generally speaking, supervision lags behind the development of science and technology. The network virtual currency program was established in the late 1990s, but it was not until 2006 that some government agencies in the United States began to analyze these programs. Due to the lack of supervision and the anonymity, invisibility and difficulty in tracking of its transactions, the network virtual currency scheme is easily used by terrorist activities, fraud, money laundering and other illegal activities. At present, many government departments in many countries are considering whether to recognize or legalize these virtual schemes and bring them into the scope of supervision, so as to support the innovation of currency and payment forms, protect consumers' rights and interests and financial stability, and restrain the use of virtual currency schemes to engage in criminal activities. At present, the uncertainty of the legal status of the virtual currency scheme may also bring challenges to the government authorities

The reputation of Monetary Authority (central bank) is the key factor to determine the effectiveness of its policies, especially monetary policy. The public's trust in fiat money is closely related to the image of the central bank, which pays close attention to its reputation. The ECB will define reputation risk as the risk of deterioration of reputation, credit or public image. As the network currency scheme is related to money and payment, it is generally believed that it belongs to the responsibility of the central bank, so it is necessary to guard against the reputation risk it may bring to the central bank. Although in the case of small scale, the impact of the failure of the network currency scheme is limited, its high volatility and instability also increase the possibility of failure and attract extensive media coverage. If the network currency is allowed to develop continuously without regulation, the central bank may be regarded as dereliction of ty and affect its reputation

Compared with the exchange value, the public has a higher recognition of the investment value of network virtual currency, and it is the transaction based on investment that accelerates the formation of virtual currency market. Like other investment markets, the participants of virtual money market will also face the potential losses caused by market risk, credit risk and policy risk. Take the bitcoin as an example: from 2009 to the beginning of 2010, bitcoin was worthless; In the summer of 2010, bitcoin trading began to enter the golden age. Because the supply was far less than the demand, the value of online trading began to rise. In early November, bitcoin was silent at 29 cents for many days, and then jumped to 36 cents; In February 2011, the bitcoin continued to appreciate, and its exchange rate with the US dollar reached 1:1; In 2013, the bitcoin price achieved a "Big Bang" growth, and hit US $1242 on November 29, 2013, exceeding the gold price of US $1241.98/oz in the same period. Fierce price fluctuations make market participants face huge speculative risks

unlike mature capital markets such as stocks and bonds, bitcoin market is not deep enough, and it is mainly held in the hands of large investors with low degree of diversification. Bitcoin price is easily affected by large investors' trading behavior and controlled by speculators. At the same time, different countries have different attitudes towards bitcoin. Germany, the United States and other countries hold an open and supportive attitude. Thailand, Brazil and other countries regard bitcoin related activities as illegal. Every country's attitude and measures will have a significant impact on its price, especially in the short term

4. First, most of the virtual coins issued today are decentralized, but in this regard, the virtual coins issued by the central bank must not be able to do so. It must be centralized and easy to adjust
Second, the value of money must be stable in a certain period of time, and it will not be as high as virtual currency such as BTC. The main purpose of the central bank's issuing virtual currency is to replace the current paper currency to a certain extent. That is to say, if a virtual currency assumes a fixed value of one yuan, it will be one yuan for a long time, It will not and will not be allowed that a virtual currency will rise to 100 or even more than 1000
thirdly, the most conservative estimate is that once issued, domestic enterprises or banks can choose whether to pay virtual currency or cash currency (RMB) when they pay wages or withdraw money. To a certain extent, cash will exist for a long time, instead of being issued all at once, all of them will be replaced by virtual currency, and all cash will be invalid, It's not realistic. It can only be said that it will be replaced graally
Fourth, the purpose of the central bank to issue virtual currency is to replace the current paper currency. Therefore, there must be a lot of similarities between this kind of virtual currency and the current paper currency. You can also directly replace the paper currency with the virtual currency, so you can have a good understanding of the nature of the virtual currency issued by the central bank. Therefore, the central bank's virtual currency is absolutely not allowed to appear, and the currency price is falsely high
therefore, it can be seen from the above points that the central bank's virtual currency is a new type of RMB, but it used to be physical, but now it is electronic and virtual. This is just like the use of real gold and silver in ancient times, and the appearance of "Jiaozi", that is, paper money, is only a kind of progress of the times. Other things are meaningless, just for the convenience of transaction, portability or personal property security. If you want to make money by investing in currency speculation, you can give up the idea. It's meaningless. If you just want to experience the freshness brought by the new currency, just wait quietly. Come out early, come out late, come out sooner or later. But then again, I'm looking forward to it.

5. It's possible, but for now, the government hasn't banned it

bitcoin and other virtual currencies exist legally in China. In the 2013 bitcoin risk notice, the central bank and other five ministries and commissions clearly defined bitcoin as a special Internet commodity. People can buy and sell it freely at their own risk. Financial institutions do not have to provide bitcoin related services, denying its monetary attribute. Zhou Xiaochuan, the governor of the central bank, compares bitcoin to a tradable asset like a stamp< Most of the major countries in the world take a cold attitude towards virtual currency. There are several possibilities for countries to ban virtual currency:

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2. The well-known weaknesses and defects of virtual currency can not be overcome in a certain period of time
3. The government can't stand the use of virtual currency in money laundering and other illegal activities

since 2013, the popular virtual currencies are bitcoin, Fuyuan coin, Laite coin, doggy coin, Ruibo coin, Yuanbao coin and so on.

6. No, the "currency" of game software is used in the game and will not flow into reality. Its attribute should be "goods" rather than money“ Charging money to play games "is like & quot; I bought two apples to eat; It's the same. It's the use of RMB to buy virtual goods or services, rather than exchange RMB for us dollars and other currencies. So you don't use the word "exchange rate" exactly. It's not a concept, so if game or software developers don't change the "exchange rate", they will never depreciate in the case of official recharge. For example, if you spend 10 yuan on QQ, you can charge 10 qq COINS. If you sell it to others, you can sell it for 7 yuan and 5 yuan. However, in the end, you will still use this Q coin in the virtual goods or services provided by Tencent, and your collection of Q coin will not have any value. So the equivalent is that you spend money directly on the purchase of Tencent's virtual goods or services. Therefore, virtual goods should be equivalent to "goods", rather than "currency". Therefore, no matter how many Q coins Tencent issues (in fact, as long as someone buys it, it can issue unlimited), it is only providing "goods", not "issuing currency". Of course, there is a virtual currency, which is not directly provided by a game or software developer. It is called "bitcoin". This virtual currency has real value. If you are interested, you can see the difference.

7. First, virtual money is not money. Q currency can only be cashed in but not cashed out, which means that it has no measure of value, means of circulation, means of storage and world currency, but only limited means of payment. Although perhaps now Taobao let Q coin have limited liquidity. But it can't devalue the real currency. So if Tencent now uses its goodwill as a guarantee for Q currency, guarantee 1q to 1RMB, can Q currency become currency? I don't think so. Q-coin with limited circulation and payment can be regarded as a kind of Tencent bond that does not need to be issued through the issuing institution. Its value depends entirely on how much you trust Tencent. Wait a minute. It also has one thing in common with the famous derivative mortgage backed security. There are only perform and under perform, but there is no over perform like ordinary corporate bonds. That is to say, its price can not exceed the par value. Have you ever seen a company issuing bonds that devalue its currency? As for the bitcoin on the first floor, it's really IMBA. I even read articles on the threat of bitcoin in the publications of the safe. However, circulation and payment are still restricted. Personal point of view, please tap
Adoption

8. First of all, make it clear that inflation will inevitably lead to currency devaluation and price rise, which means inflation. The two are opposite propositions. Let's look at the relationship among the real world, real currency, virtual world and virtual currency. If we use real currency of the real world to buy virtual currency of the virtual world, because these virtual currencies are not the currency circulating in the virtual world, but the currency created out of thin air through the virtual world, these currencies can be called hot money, hot money_ Network, and the purchase of virtual currency behavior can be regarded as hot money inflow, hot money inflow_ What is the meaning of hot money inflow. The direct impact of the inflow of hot money is to make the amount of money in circulation exceed the actual economic needs, which will lead to currency devaluation and inflation. I think the main idea must be like this... But“ Whether the behavior of "hot money inflow" will happen or not depends entirely on the purchase proportion. Taking world of Warcraft as an example, the ratio of real currency to virtual currency is 30:80000. If the official gold coin purchase is lower than this, all players will not buy the official gold coin at all. Instead, they will choose to sell some cards or go directly to 5173 to buy g. but if the official gold coin purchase is higher than this, Then all players will buy the official gold coins instead of selling some cards, which will cause inflation. Of course, inflation is not only related to hot money, but also to proctivity and other factors. In view of the respondents' limited understanding of economics, I will not elaborate on it. For example, the price of burlap in world of Warcraft has soared to 500 gold. As a primary raw cloth for a game, it should not be so expensive, Obviously, inflation has nothing to do with hot money, mainly because of its low proctivity. To put it bluntly, there are few people to beat and the output is low, so it is expensive.

9. Virtual currency may fall over the issue price, because virtual currency has no material basis, and its price rise and fall is completely determined by the game between buyers and sellers in the market. When diving heavily, it may be lower than the issue price.