Opinions of leaders from all walks of life on virtual currency

1. Speculators' paradise

2.

Less than a month after Jamie Dimon, CEO of JPMorgan Chase, failed to beat bitcoin, bitcoin hit a new record. It not only regained the land lost last month, but also broke $5300 today

just a month ago, when bitcoin began to recover from its high level to its low level, Dimon once again attacked bitcoin as "a fraud" at the New York financial conference of Barclays. He concluded that bitcoin was a bubble and predicted that the bubble would eventually collapse. Bitcoin has been controversial since it came out. So far, no mainstream bank has joined the list of market makers, and no big exchange has provided a trading platform. However, even those who oppose bitcoin hold a very positive attitude towards the technical foundation of bitcoin and other digital currencies, that is, blockchain technology

3.

Less than a month after Jamie Dimon, CEO of JPMorgan Chase, failed to beat bitcoin, bitcoin hit a new record. It not only regained the land lost last month, but also broke $5300 today

At JPMorgan's third quarter earnings meeting on Thursday morning local time, Dimon said he would not comment on bitcoin

"I will not classify this (bitcoin) as the most important transaction category, but I will not discuss bitcoin any more." Damon said

bitcoin rose rapidly from less than $1000 at the beginning of 2017 to $4900 at the beginning of September. After that, bitcoin dropped rapidly from US $4900 to US $3500 in the first half of September, and then rebounded. Bitcoin has recovered its lost ground and broken through the US $5800 barrier

Dimon once had a similar but more intense evaluation that the circulation value of bitcoin is limited to a very small market

bitcoin's sharp price fluctuation, on the one hand, has attracted speculation about speculative asset bubbles in the market. On the other hand, it has attracted a lot of attention from investors and banks. p> In early October, some media quoted people familiar with the matter as saying that Goldman Sachs was considering directly carrying out market making transactions of bitcoin and other digital currencies, becoming the first Wall Street giant to prepare to directly trade digital currencies. Lloyd Blankfein, CEO of Goldman Sachs, later tweeted: "bitcoin is still under consideration. There is no conclusion, no support and no rejection. I know that when paper money replaces gold, some people will also be skeptical. "

a spokesman for Goldman Sachs said that it is exploring the best service for customers in the field of digital currency

since June this year, Goldman Sachs has begun to release bitcoin research reports, becoming the first large investment bank on Wall Street to release bitcoin price analysis. In an August report, Goldman Sachs said it has become increasingly difficult for institutional investors to ignore bitcoin and the virtual money market

James Gorman, CEO of Morgan Stanley, said at the end of September that bitcoin was definitely not just a fad“ Anonymous money is a very interesting concept, it provides privacy protection for people, it also has meaning for the central banking system. "

Abigail Johnson, CEO of fidelity, an asset management company that manages $2.3 trillion, has joined the ranks of bitcoin gold miners with practical actions. When Johnson attended the digital currency conference in September, she delivered a long speech, saying that her company not only studied regional chain technology, but also injected venture capital into many companies engaged in bitcoin related business

fidelity owns a bitcoin mining company through investment. Johnson himself has been engaged in bitcoin mining business for a long time, and he has a considerable amount of bitcoin

4. Compared with other payment instruments, digital RMB has two advantages. One is the advantage of relying on the political authority; It's a technical advantage to take off the deal. It can replace cash in circulation, which will certainly speed up the process of cash
on the other hand, with the rapid development of mathematical economy, people generally pay attention to whether virtual currency will enter the popular payment and transaction scene.

6. There are no more than the following kinds of people touting virtual currency:
the first kind is the big guy who pretends to be confused. They boast about the greatness of virtual currency, in fact, just to sell their own coins, and then make their wealth more and more. This is the same reason that Mimeng's articles incite emotions. It's just to let people read more of her articles to sell advertisements. As for whether it is true or not, who cares
the second kind of people is the media outside the circle. In fact, they don't know anything. The purpose of their blowing together is to bring traffic. It's all for sale. It's just different. They follow together to brag, will have more traffic attention, advertising can be more valuable. If the business is not good, change the vest and continue. That's what we media and finance are doing now. True or false is not so important, the important thing is to bring them income, which is enough
the third kind of person is the leek of coin circle. In fact, they don't have the ability to think independently. They are superstitious in aura. They watch the big guys and the media blow, and then they really believe in it. They also blow,,,, and then they are the ones who take over. It is commonly known as "no brain blowing, no brain blowing". It lacks the ability of independent thinking, and does not carefully analyze things. It is respect to blow first and respect to blow first. Blind, therefore, only then dish's life.

7. What we learn about investment and finance is that we can't touch blockchain and virtual currency

8. Views on virtual currency
from q-coin and counting roll used to buy props to bitcoin which can be exchanged with us dollar and euro today. It shows that the utilization rate and universality of virtual currency are graally increasing. I think this kind of virtual currency has both advantages and disadvantages. Virtual currency makes up for the deficiency of currency, but it will not replace the real currency
1. Security of virtual currency. The day before yesterday, a bitcoin trading platform headquartered in Japan was favored by many people. However, e to the loss of 750000 bitcoins from customers and 100000 bitcoins of its own, the company had to file for bankruptcy protection. This fully shows that the security of virtual currency is difficult to guarantee
2. The use of money cannot be regulated. The problem is that there is no manager similar to the central bank. Due to the strong anonymity, it is easy to be used for illegal transactions such as speculation and drugs, as well as money laundering. Without the network of financial institutions, it is difficult to grasp their liquidity, which will bring difficulties to taxation
although it has many uncertainties, virtual currency is very effective and reliable to a certain extent
1. The possibility of inflation of virtual currency is small, and it is not affected by policy. Avoiding the influence of the central government on finance, virtual currency can prove the stability of its value because of its limited circulation. It will not raise prices and lower the value of money because of the increase of money supply
2. Strong circulation. People can use bitcoin to trade anywhere in the world where there are networks and computers, which is very convenient
it not only saves time, but also saves a lot of transaction costs
after comparison, I think that the virtual currency will be saturated and will not pose a threat to the real currency. On the one hand, in the backward regions and countries, they rely more on currency, resulting in a gap with the developed regions. On the other hand, with the development of network technology, the security of virtual currency will be more and more difficult to determine. It is also very difficult for people to use a lot of money in the form of virtual currency in huge investment. Especially in a country with traditional culture such as China, people are more confident that they will hand over their property to the financial instry such as banks, rather than in the online world like flowers in the mirror< There is no comparability between bitcoin and stock. Stock is people's profit expectation for a company. For example, a company constantly proces new procts to increase its wealth. People can obtain wealth growth with the company by holding shares of the company. And the stock is an investment proct, without monetary attribute, it is impossible to say how much ICBC stock an iPad is worth. On the contrary, like bitcoin, the stock can be converted into legal currency through the exchange to purchase the iPad. Similarly, in the so-called companies that accept bitcoin payment, all of them are marked with legal currency. They accept bitcoin through a third-party company, and finally receive legal currency from a third-party company
therefore, stock is people's expectation for the future development of a company, and it is an investment proct. There is no comparison with bitcoin, which clamors to become a currency
2. The existence of money lies in circulation and pricing. A thing that has been reced to a speculative tool since its existence, expecting appreciation and redistributing wealth can not become money
3. As cndx God said, bitcoin will have 2.0 in the future, which will be seamlessly connected with 1.0. That's funny. Why should the inventor of 2.0 connect with 1.0? Just as bitcoin does not connect with RMB, it is another opportunity for wealth redistribution
4. The existence of virtual currency can only meet the money laundering needs of a small number of people, so there is a market. For example, if someone wants to launder US $1 million recently, the ratio of bitcoin to legal currency will change, which is also in line with the market rules. Of course, money laundering is risky. If you buy one million dollars of bitcoin, you will hold it forever without losing any money
5. My legal currency is in the bank. If I lose it, I can still get it back with my ID card. Is my bitcoin password gone? Who should I go to
6. The currency expected by cndx will not be lost. At most, it will play in a certain circle just like Q currency
7. This thing is the proct of anarchism. If you want to embody value, you can only do it without government. The distribution of wealth depends on power and blood. For example, if you hold 10000 bitcoins, ZF says not to use them, and you say I'll use them. Bang, you're dead. Oh, bitcoin has appreciated again, because the total amount is less than 10000.

9. I've read that the principle is correct and the plot is wonderful, but the content is too exaggerated and conspiracy theory. I think we have to judge when we read. Let's not use Marxism. He only represents his point of view and his own purpose. I think his writing is too extreme< br />________________________________

"currency war" is not entirely true, but part of it is made up by the author. These secrets are sorted out by the author according to the material in real life, and then partially exaggerated. The purpose of publishing this book is to reveal the truth of world currency development, especially to change the world's view of the United States

as soon as Mr. Song Hongbing's "currency war" came to the market, it immediately aroused the hot comments of many media, and also aroused the high attention of the relevant ministries and commissions of the state, especially the heated debate between the financial and academic circles. Recently, under the joint organization of China first business daily, CITIC publishing house and Shanghai Ruolin network, Mr. Song Hongbing delivered a speech with currency war in Shanghai and had a dialogue and exchange with some scholars and business people in Shanghai

what can we do to protect the money we earn< At this small forum, song Hongbing pointed out: many people do not know that the Federal Reserve is a private institution. As for the understanding that "the central bank itself is neutral and mainly guarantees the independence of monetary policy", song Hongbing puts forward his own view that whoever owns the central bank controls the financial market. The Fed has a lot of insider manipulation

Song Hongbing said that the Federal Reserve is responsible for the entire issuance system of the United States, which in fact affects the world. It is completely independent, not responsible to the government or Congress, without supervision and audit, that is, there is a fourth power above the three powers. If someone can control the issuance of money, then the basic idea of the financial market will be in trouble

in the United States, it is not the Federal Reserve that reports to the president, but the president should report to the Federal Reserve. To some extent, the power of the central bank is greater than that of the president. There are some problems in such a system. One is the conflict of interest. Commercial banks are the main driving force for the establishment of the central bank. At that time, commercial banks controlled the Federal Reserve. In the process of making monetary policy, these people are the ones who really make strategies. They know the change of policy before the market participants. The right to predict the change of interest rate policy gives them all kinds of opportunities to make money. Second, fairness. If commercial banks use their own money to issue currency, it does not constitute any problem. But in fact, banks issue currency with treasury bonds as collateral. Treasury bonds are the promise of future income, which involves fairness and moral hazard

ring the Bretton Woods period, the US dollar was linked to gold, and its value was very stable. Its real purchasing power has fallen more than 90 times since the 1930s. From 1970 to now, especially in the last ten years, its purchasing power has become weaker and weaker. All the scalpers who work as US dollars in the black market have been laid off. This is also the process of accelerating the depreciation of the US dollar. The real estate in the United States has also risen sharply recently. In the 1970s, the price of a house worth 60000 US dollars is 400000 US dollars now. The intrinsic value has not changed. In fact, the currency is worthless. Now the purchasing power of the RMB and the US dollar is declining rapidly

the depreciation of US dollar has accelerated in recent ten years. If national debt is used as collateral in the future, its purchasing power will inevitably decline. The two results of inflation are the decrease of purchasing power and the redistribution of social wealth. If we understand such an operation mechanism, what should we do? What can we do to protect the money we earn

Song Hongbing said that according to the amount of additional currency issuance, saving money can not rely on interest to offset inflation. The financial system gains the most from inflation. The central bank is printing money. Only 3% of the dollars in circulation are in circulation. There will be more and more credit money, not paper money. For example, if you deposit 100 yuan into the bank, the bank can expand it to 190 yuan for loans, and the bank is printing money. The instry closer to the banking system and the instry with the most loans actually gains the most, while the people who do not seek bank loans at all suffer the most. In fact, it is transferring the wealth of the people farthest from the banking system to the people nearest to the banking system

people should understand the current financial system. Money and wealth are not exactly the same. The possession of wealth means that you own procts and services. Having money in itself does not mean having the same amount of wealth. Money and wealth are not exactly the same concept. When you receive money, don't be confused by the amount of money. The most important thing is to look at the procts and services you have

RMB is devalued for real property. Why is it appreciated for us dollar? Because the US dollar has depreciated more severely, we should consider from the perspective of wealth. RMB is actually devaluing. RMB, US dollar and stock index are all bubbling, that is, academic asset inflation. Serious bubbles will lead to overestimation of real estate and so on. We should look for underestimated places.

the most stable and effective index for inflation is the price of gold, which includes both assets and prices. It is the most comprehensive. Therefore, if we use the price of gold to measure inflation, it can best reflect inflation. The price of all gold is strictly controlled. Once the price of gold rises, European banks will auction gold to suppress its price. Song Hongbing thinks the price of gold is undervalued. Real dollar inflation is actually at least twice the price of gold today. If the gold analogy is used, the price of gold is now at least 50% undervalued

when a country has doubts about its banknote issuing system, banknotes will depreciate

when people waver in US dollar assets, gold and silver are bound to rise in price. When the people waver in the US dollar, they will no longer trust any currency and turn to gold and silver. This year, many European and American media have reported on this. An article directly put forward the view of the end of sovereign currency, that is to say, the central bank systems of all countries are now out of order, and it is likely that there will be a great recession in 1929. This is the biggest warning we've seen for us finance< However, Chen Jian, executive deputy general manager of Cathay Pacific Fund Management Co., Ltd., believes that it is almost impossible to restore the "gold standard" in currency issuance when the global economy has developed to such a large scale< According to Chen Jian, first of all, governments will not agree to the restoration of the "gold standard", because this system will seriously restrict the government's power to regulate the economy by issuing paper money. Therefore, no government (or central bank), especially the big economic countries, will agree to restore the "gold standard". Of course, behind the government's behavior is the demand of social economic activities for a flexible currency issuing system. Under the "gold standard" system, the limited money supply can not meet the demand of a big country or even the global economy for money

secondly, the people will not like the recovery of the "gold standard". In real life, for ordinary people, they don't pay much attention to which kind of monetary system to adopt. Whether they are doing business or living, they all hope to have a more relaxed and free environment. What we are concerned about is the continuous improvement of our living standards and quality. Take China as an example. Since the reform and opening up, people's living standards have been improved to varying degrees. They have adapted to the existing monetary system. There is no idea to change this system

the drawbacks of the current currency issuance system can be improved by strengthening supervision and restriction. Chen Jian believes that with the excessive issuance of currency and the continuous exposure of its drawbacks, people pay attention to it, but it will not return to the "gold standard" track. In the era of excessive issuance of banknotes, he is very much in favor of how to avoid being "sheared". He thinks that the essence of this problem is how to manage money correctly. It is reasonable to regard gold investment as a part of personal finance<

China should be alert to currency war

SHEN Siwei, associate professor of the Institute of economic strategy, Shanghai Jiaotong University, shares song Hongbing's view on the risk of US dollar dominating world finance. Professor Shen stressed: the United States is a country with high consumption of resources. The rise of raw material prices is hard to bear. In order to directly obtain oil resources, the United States does not hesitate to resort to military means and is trapped in the quagmire of Iraq. High oil prices and the sharp increase of military expenditures have led to a sharp increase in the current account deficit of the United States and a substantial depreciation of the US dollar. In this case, the United States does not want to solve its own problems. Instead, with the help of the international status of the US dollar, it has intensified its efforts to promote world financial integration and political integration. In essence, it requires all countries in the world to fully implement the rules formulated by the United States, which is the "rules are exogenous to countries other than the United States, but endogenous to the United States" implemented by the United States

the so-called "political integration" means that all countries in the world should accept the "democratic model of the United States in which the two parties are in power in turn" and be flaunted as human universal values, which is just another religion. In essence, its purpose is to enable the United States to better intervene in other countries' domestic affairs in order to obtain the maximum benefits. The so-called "financial integration" refers to financial liberalization. Its essence is that the United States obtains the maximum benefit by financing from other countries through US dollars, and then purchasing other countries' assets at a low price through political, military and financial means. Professor Shen said that we can see that the issuing prices of Chinese companies listed overseas are always very low, while those in China are always very high. We can also see that CIC has bought the preferred shares of Blackstone at a high price, while Blackstone has bought the equity of Bluestar. Why don't we buy our own equity? In essence, if you don't transfer your interests to the United States and the international market doesn't allow you to participate, what's the logic

with the advancement of financial liberalization, the world financial market is becoming more and more fragile. In essence, no country can withstand the impact of the world's capital. But the world's capital will never impact the United States, because the U.S. financial institutions are in charge of the global dollar, the U.S. subprime mortgage crisis, the dollar does not fall but rises, this is the meaning of financial hegemony.

10. After joining the army, they should obey the arrangement of the army and do whatever they want