Virtual currency under the trend of Internet Finance
There is no official recognition of any virtual currency in China
different from sovereign currency, the "credit" basis of "virtual currency" is mathematical algorithm, and its price depends on the reliability of the algorithm, market confidence and other factors. There are many defects and loopholes in technology, and its value foundation is very fragile
the China Internet Finance Association recently announced that bitcoin and other so-called "virtual currencies" lack a clear value basis, the market has a strong speculative atmosphere, the price fluctuates violently, and investors blindly follow suit, which is easy to cause capital losses. There is no legal basis for the establishment of various so-called "currency" trading platforms in China
extended information:
in recent years, the price of bitcoin has risen rapidly, attracting a large number of people to enter. A large number of "virtual currencies" followed suit. In 2017, the price of Leyte increased by 476%, the price of Ruibo increased by 54 times, and the price of ether increased by 13 times
Li Aijun, Dean of the Internet Finance and Law Research Institute of China University of political science and law, believes that virtual currency is the proct of networking, and the digital information flowing in the network is beyond everyone's control. The code of cyberspace is the basis of the operation of virtual currency, investors can only operate through the front-end interface, seemingly "control" the virtual currency. The operator of the virtual currency service organization may become the actual controller of the virtual currency through the control code
Li Aijun, Dean of the Internet Finance and Law Research Institute of China University of political science and law, believes that virtual currency is the proct of networking, and the digital information flowing in the network is beyond everyone's control. The code of cyberspace is the basis of the operation of virtual currency, investors can only operate through the front-end interface, seemingly "control" the virtual currency. The operator of the virtual currency service organization may become the actual controller of the virtual currency through the control code
Du Yan believes that the existence of bitcoin and exchanges and other instrial chains has constructed an illegal financial market for asset transfer and financing beyond legal tender, increased the difficulty of regulatory authorities in managing financial security and stability, and promoted regulatory arbitrage and financial crimes. The risks and social security risks it brings to the financial market are far higher than its innovative value
investors should stick to rational investment, not blindly follow the trend, nor take chances. There are risks in investment, especially in the face of a new model, we should be more cautious in investment, so as not to become the target of wealth plunder by criminals
when it comes to applied cryptocurrency, I feel that the theory of currency business circle mentioned by Mr. Shaqian is very good, but the progress of shaqiantong project is slow. At the same time, Fuyuan coin was at the forefront of the times. Fuyuan coin is a member of the global jewelry instry association, which is proced by operation and circulation. The purchase of jewelry procts of member enterprises can obtain a certain amount of Fuyuan coin (similar to business points). Users can use Fuyuan coin to buy and sell freely on the trading platform, or they can shop in cooperative businesses, which is similar to a closed-loop business system
personal views, for reference only, not as investment advice!
bitcoin is an innovation of Internet finance, and the blockchain technology of bitcoin is potentially disruptive to all traditional instries
bitcoin is a consensus network, contributing to a new payment system and a fully digital currency. It is the first decentralized peer-to-peer payment network, which is controlled by its users without a central management organization or middleman. From the user's point of view, bitcoin is much like Internet cash. Bitcoin can also be regarded as the most outstanding three style bookkeeping system
a block is a record in the block chain, which contains and confirms the transactions to be processed. On average, a new block containing transactions is added to the block chain by mining every 10 minutes.
following such a development idea, combined with the experience of some of the first developed Silicon Valley and the comprehensive judgment of China's national conditions, we have invested in many related companies in the fields of lending, credit, data, micro payment, etc. these investments are in different stages and amount, and many of them have not been disclosed.
Following the warning of ICO risks issued on August 31, recently, the China Internet Finance Association (hereinafter referred to as the mutual Finance Association) issued another warning to be alert to the risks of bitcoin and other "virtual currencies"
the Mutual Fund Association issued a risk warning that in recent years, the so-called "virtual currency" such as bitcoin, Leyte coin and all kinds of tokens have carried out centralized transactions on some Internet platforms, and the number of stakeholders has graally expanded, so the potential financial and social risks formed can not be ignored
China Internet Finance Association calls on all member units to fulfill the commitment of the instry self-discipline convention, strictly abide by national laws and regulations, not participate in any centralized transactions related to the so-called "virtual currency" or provide services for such transactions, and actively resist any illegal financial activities
there are risks in investment, so we should be cautious in purchasing virtual currency