Public opinion monitoring of virtual currency

1. There are two reasons for the prohibition of virtual currency trading by the state:
1. The price fluctuates violently and the consumer protection is lacking:
virtual currency is the proct of network, and the digital information flowing in the network is beyond the control of all people. 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<
2. Avoiding supervision and becoming the "accomplice" of criminal activities
virtual currency transaction is not protected by law:
virtual currency transaction is not illegal, and it is not illegal to invest in virtual currency. But how to get involved in virtual currency transactions is illegal and illegal. It may be suspected of illegal fund-raising.

2.

The investment risk of virtual currency is high, and the transaction of virtual currency has been banned in China

strengthen the management of token financing trading platform according to Article 3 of the notice on preventing the financing risk of token issuance. From the date of this announcement, any so-called token financing trading platform shall not engage in the exchange business between legal tender and token and "virtual currency", nor buy or sell token or "virtual currency" as a central counterpart, nor provide pricing, information intermediary and other services for token or "virtual currency"

for the token financing trading platform with illegal problems, the financial management department will request the competent department of telecommunications to close its website platform and mobile app according to law, request the network information department to remove the mobile app from the app store, and request the instrial and commercial administration department to revoke its business license according to law

Article 4 financial institutions and non bank payment institutions shall not carry out business related to token issuance financing transactions. All financial institutions and non bank payment institutions shall not directly or indirectly provide procts or services such as account opening, registration, trading, clearing and settlement for token issuance and financing and "virtual currency", nor undertake insurance business related to token and "virtual currency" or include token and "virtual currency" into the scope of insurance liability. Financial institutions and non bank payment institutions shall report to the relevant departments in a timely manner if they find clues of violation of laws and regulations in token issuance financing transactions

extended materials:

"notice on preventing the financing risk of token issuance" Article 1 accurately understand the essential attribute of token issuance financing activities. Token issuance financing refers to the financing subject raising bitcoin, ether coin and other so-called "virtual currency" from investors through the illegal sale and circulation of token, In essence, it is a kind of unauthorized illegal public financing, which is suspected of illegal sale of token tickets, illegal issuance of securities, illegal fund-raising, financial fraud, pyramid selling and other illegal and criminal activities

Relevant departments will closely monitor relevant developments, strengthen cooperation with judicial departments and local governments, strictly enforce the law in accordance with the current working mechanism, and resolutely deal with market chaos. If suspected crimes are found, they will be transferred to judicial organs. The token or "virtual currency" used in token issuance financing is not issued by the monetary authority, does not have such monetary attributes as legal compensation and compulsion, does not have the same legal status as currency, and cannot and should not be used as currency in the market

3. According to the monitoring of the financial regulatory authorities, some illegal elements have been hyping "virtual currency" under the banner of blockchain recently. Therefore, China Internet Finance Association has issued "risk tips on preventing the transactions between ICO and" virtual currency "in the name of blockchain"

4.

The mutual fund association said that at present, the relevant management departments have basically completed the clean-up and rectification of domestic ICO activities and "virtual currency" trading venues, ring which some investors turned to overseas to carry out relevant activities. According to the relevant national management policies, the network access channels and payment channels of domestic investors may be affected, and investors will suffer losses. It is understood that recently, as many countries pay attention to strengthening the supervision of the "virtual currency" field, some overseas trading platforms may be forcibly banned by the host country's government, and some overseas trading platforms have been restricted from access e to obvious compliance risks

on September 4, 2017, the central bank and other seven ministries and commissions jointly issued the announcement on preventing the financing risk of token issuance, which clearly pointed out that all kinds of token issuance financing activities should be stopped immediately from the date of the announcement; All financial institutions and non bank payment institutions shall not carry out business related to token issuance financing transactions; For the token financing trading platform with illegal problems, the financial management department will request the competent department of telecommunications to close its website platform and mobile app according to law, request the network information department to remove the mobile app from the app store, and request the instrial and commercial administration department to revoke its business license according to law

5. The toobi platform is not a pitfall, because I was not familiar with the software operation at the beginning and missed the selling point. However, as a whole, there is no problem with the payment. It's very important to choose the right platform!

6.

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

{rrrrrrr}

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

7. According to the monitoring of financial regulatory authorities, some illegal elements have been hyping "virtual currency" under the banner of blockchain recently. Therefore, China Internet Finance Association has issued "risk tips on preventing the transaction activities of ICO and" virtual currency "in the name of blockchain"
ICO refers to the behavior of blockchain project issuing token for the first time and raising general digital currency such as bitcoin. According to the risk tips of mutual fund association, some illegal elements hype "virtual currency" under the banner of blockchain. In essence, such activities are not really based on blockchain technology, but in the name of blockchain, which seriously damages the legitimate rights and interests of consumers.

8. It has to be said that you are really willing to spend money. In this era when bitcoin is not suppressed, you actually buy graphics cards to mine. Normal mining graphics cards are chip combinations, not the kind of graphics cards on the market. 6 cards have never been used. I suggest you consult the merchants who sell your motherboard. I really don't recommend using graphics cards to mine. All kinds of losses.