Owe virtual currency
There is no official recognition of any virtual currency in China. There is also no legal virtual currency
virtual currency is the proct of network, and the flow of digital information 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
bitcoin and other so-called "virtual currencies" lack a clear value basis, the market is full of 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
the establishment of all kinds of bitcoin trading places has neither been approved nor supervised. To enlarge the scale of transactions, it is necessary to provide leveraged transactions such as financing and melting coins, which has aggravated the price shocks and bubbles. The public has participated in such transactions without any legal protection. p>
extended information:
virtual currency is not issued by the monetary authority, does not have monetary attributes such as compensatory and mandatory, does not have the same legal status as currency, and cannot be used as currency in the market. In essence, the issuance and financing of virtual currency is a kind of illegal public financing without approval. It is suspected of illegal sale of token tickets, illegal fund-raising, financial fraud, pyramid schemes and other illegal and criminal activities. Investors should not be carried away by "high income"
There are many hidden risks in virtual currency, which seriously affect the financial order. Virtual money pyramid selling breaks through the limitation of traditional geographical space, and if there is a formal company facade as a cover, it can publicize the company on a large scale, and the propagation speed is amazing. If it can not be found and dealt with in time, it will cause great destructive power. In the future, the regulatory agencies can study and explore the relevant business models of virtual currency trading within the scope of controllable risk, improve the regulatory scheme, and promote the long-term regulatory mechanismlink: https://www.hu.com/question/22023800/answer/22741288
source: Zhihu
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the first conclusion: ripple is not a currency, but a payment network; XRP currency used in the network is a kind of currency. Compared with bitcoin, the former is a payment system, while the latter is money, which is not the same kind of things, so there is no substitutability
bitcoin has been fried rotten, and hushang's answer is close to saturation, so we don't need to repeat our work. Let's focus on ripple
what is ripple
ripple is an open payment network. Just like ripple, the word ripple emphasizes the flow and transmission of funds
in life, acquaintances borrow money from each other and may not write IOU. Sometimes, several friends borrow money from each other, generate multi angle debts, and may adjust the relationship of debts and creditor's rights according to the alienation of relatives. For example, a owes B 5 yuan, B owes C 5 yuan, and a and C are familiar with each other. Once three people discuss, they may directly ask a to repay C. In fact, not only between acquaintances, many small shops and small companies will allow acquaintances to write off on credit
that is to say, everyone is more willing to have debt relationship with the people they trust or are familiar with, and through the trust network between people, funds can flow smoothly
the above is the money network between people in the real world. If all this happens in the Internet world, it is the money flow system that ripple is trying to achieve
but in this network, the relationship between you and your trusted acquaintances is transformed into the relationship between you and your trusted gateway. As the name suggests, a gateway is a "gateway" between one network and another, that is, a network gateway. To go from one room to another, you have to go through a door. Similarly, to send information from one network to another, you have to go through a "gateway", which is the gateway. As the interface between network and network, network and the real world, gateway is like a bank counter, which converts your currency into a series of numbers in your account
what happens in ripple is just like the reality. When you change 100 RMB into FCY issued by gateway a through gateway a, you will have an extra amount of 100fcy in your ripple account. You can transfer the 100fcy to a stranger through gateway a, such as Xiao Ming, Xiaoming can exchange the money into real-world RMB through gateway a. In the whole process, the relationship between creditor's rights and debt changes as follows:
1. You deposit 100 RMB into gateway a, and gateway a owes you 100 RMB and gives you a 100fcy IOU
2. You pass the IOU of 100fcy to Xiaoming through gateway A. at this time, gateway a no longer owes you money, but owes Xiaoming RMB 100, because the IOU is in Xiaoming's hands
3. Xiao Ming takes the IOU to go to gateway a to cash RMB 100
in the whole process, you and Xiao Ming only establish a trust relationship with gateway a, but you and Xiao Ming do not need to establish a trust relationship
what is XRP coin
what is XRP coin at the beginning? Its main function is to pay transaction costs
XRP is a kind of cryptocurrency embedded in ripple system. Unlike bitcoin, ripple issued 100 billion XRP coins at the beginning of its establishment, and the total amount is no longer increasing, that is to say, it has g up the mine ahead of time. Each transaction (for example, you transfer 100fcy to Xiaoming) requires a small amount of XRP currency, which is technically destroyed directly. At the same time, XRP coins are also used as margin. When you open a ripple account, you need to put 50 XRP coins in it as a guarantee
according to opencoin, the issuing and maintenance company of ripple, the first 100 billion XRP coins will be given to investors and founders, 50 billion will be distributed free of charge (that is, opening accounts for free for a period of time), and the other 30 billion will be held by opencoin, which will be sold from time to time to make profits. Opencoin also admits that holding and selling XRP coins is the only way to make a profit<
ripple's influence
at the beginning of ripple's birth, rumors abound. Many people claim that ripple is more in line with the operation mode of money flow in reality, and will replace bitcoin in the future
but in fact, it is too early to judge whether ripple system can succeed. As soon as ripple started to operate, many problems have been exposed, including that its security is not as good as the official propaganda
at the beginning, ripple itself is just a new currency circulation system or payment network, and the essence of XRP currency is the lubricant to assist the currency circulation in the system. If this system is successful one day, it will only have a positive impact on the circulation of bitcoin. To say that "Ripple can replace bitcoin" is actually equivalent to saying that "Alipay can replace the renminbi" is wrong: the former is the payment system, the latter is the currency, not the same thing, so there is no replaceability. The emergence of Alipay has facilitated the payment and flow of RMB. Similarly, if the Ripple system is successful, its role is only to facilitate the payment and circulation of legal tender and bitcoin.
editor on February 22, 2014
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the operation of not chasing new fans is not a good code farmer
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@ Feng Chiyu
only mentioned the scene of ripple when users and users pay, but ripple is far more than that. I add two points: trading system and automatic path search
through a gateway, you can deposit RMB, US dollars or virtual currencies, such as bitcoin and Leyte currency, into ripple wallet. And in this system, you can achieve any currency to buy or sell a single transaction. Trading here is better than trading platform. The transaction information of traditional trading platform is not open and opaque. In ripple, every order, cancellation and transaction record can be fully inquired. Through websocket interface, developers can also implement automatic trading program, and basically get real-time data in addition to network delay Network delay depends on the situation, the delay of using US server may be less than 0.1 second!) However, most of the traditional trading platforms have a certain cache time for the API interface. A few seconds of cache time may be fatal to the automatic trading program
with this trading market, ripple can realize a very advanced means of payment - automatic path search
to give a practical example, if I was a Chinese programmer working for a company in the United States, I might get us dollars through Western Union remittance or other ways before, and then I would go to the bank to exchange them for RMB. In the middle of this, the handling cost is relatively high. With ripple, I can do this now:
I trust a RMB gateway, such as ripplecn or ripplechina gateway, which is one of the best RMB gateways in China. Then American companies deposit bitcoin or US dollars through bitsmap gateway and send them to ripple. The service charge is only about 0.000012xrp, It is equivalent to about RMB 0.00000108. Then I will directly receive the CNY quota in the ripple system and withdraw it at the RMB gateway. The service charge for withdrawal is 3% for ripple CN gateway and 6% for ripple China gateway. It only takes a few seconds to complete the automatic exchange payment in ripple system
the full-automatic exchange in the payment step is the automatic path search of ripple, which is the essence of ripple system. Path automatic search relies on the above-mentioned hanging single transaction system. If the above American company deposits bitcoin, the system will complete the following calculation in a few seconds: query the amount of XRP after BTC / XRP exchange, and then the amount of CNY after XRP / CNY exchange. If there is a more appropriate path, such as BTC / USD - & gt; USD/XRP-> XRP / CNY, or BTC / USD - & gt; USD / CNY, the system will also automatically calculate and find the cheapest path for the sender to complete the exchange payment
once, I used ripplecn gateway CNY, and my friend only trusted ripplechina. He wanted me to give him 10 yuan, so I entered the sending interface to input 10 yuan, but the system showed that I only needed to send 9.9998 yuan. Because there is a price difference between the two gateways in the CNY / XRP trading market, the system automatically realizes the path search and provides me with the cheapest payment path
there will be many applications on ripple in the future, and ripple's second payment experience is excellent. If you have a ripple wallet, try clicking send in the wallet and the recipient enters it [email protected] perhaps [email protected] There will be a call fee and Q coin recharge interface, which is an application I made for ripple. You can use XRP, U.S. dollar, RMB, bitcoin and other currencies to purchase q-coin, and exchange it into RMB in seconds to complete the recharge request automatically
ripple is likely to go against the weather in the future. As for bitcoin? His role in the virtual currency instry is similar to that of legal currency, which is totally different from ripple's payment system<
editor on February 27, 2014
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ripple basic concept and principle, others have answered, simply speaking, it is a payment network, anyone can become a node of this network to issue currency and then circulate throughout the network. There are some innovations
but in the long run, it must grow faster than bitcoin, otherwise it is likely to lose in the competition, because at present, most of its functions can be realized in bitcoin network
from a technical point of view, because bitcoin has "dyeing" technology, anyone can issue currency, stocks, funds and so on by becoming a node on the bitcoin network. Assuming that the bitcoin is fully legalized, Alipay will turn 1 bitcoin "dyed" into the one and only special bitcoin that is unique and unforgery in the bitcoin network. Then it will promise the public that the stained coin can be exchanged for Alipay by 1 yuan. So the public can use Renminbi to exchange Alipay's "bit yuan" for consumption and payment. So these special bitcoins have what experts call "guarantee" or "anchor". As long as Alipay is credible, these "bit yuan" will always be valuable and can be used safely. At the same time, as bitcoin transactions are open throughout the network, everyone can see how much Alipay has issued "bit yuan", whether it has spammed money and oversold its own assets to guarantee the currency. So the only advantage of ripple in technology is that it can transfer money quickly. It doesn't need bitcoin to wait for dozens of minutes. But in the long run, bitcoin can speed up the transfer speed to a few minutes in the future through technical upgrading
in the people's Republic of China, the five ministries and commissions of the CPC Central Committee jointly issued a document on December 5, 2013, saying that the people have the freedom to participate in Internet Finance on the premise of taking their own risks. The risk prevention notice of the five ministries and commissions of the central government is that for Internet virtual currency, the public has the freedom to participate on the premise of risk bearing. This law works better than a business license, but at your own risk. This is the instruction of the Party Central Committee. Listen to the party, follow the party and make our fortune! At the Boao Forum for Asia held in April this year, Zhou Xiaochuan, governor of the central bank, said that since digital currency is not the currency initiated and approved by the central bank, it is impossible to ban it. Digital currency belongs to digital assets, which can be freely traded between indivials. Therefore, digital currency is not MLM, not capital disk, but a kind of financial investment. Let me talk about the bonus system of BBT. There are two kinds of income of BBT:
one and 160; Static income
&&# 160;&# 160;&# 160;&# 160; A mint of 800 yuan has a daily capacity of 8 gold coins,
65% of which is 5.2 gold coins, which can be sold and cashed into RMB when accumulated to 100,
the other 35% is 2.8 gold seeds. When accumulated to 800, the system will automatically buy a New Mint and take 8 more gold coins every day< br /> &# 160;&# 160;&# 160;&# 160;&# 160; Each Mint has a total of 1600 gold coins. After proction, the mint stops proction, 1040 of which can be converted into gold coins and 560 into gold seeds
you can choose to convert 100 gold coins into cash to recover the cost first
of course, there are still people who do not cash at the beginning, but adopt the re investment<
the second income of BBT is dynamic income
the first prize, &; It's a performance award
every person recommended gets 100 gold coins, which is paid in seconds
the second prize; It's a double area arrangement of money picking prizes, with 100 gold coins in the two layers,
b from top to bottom and from left to right (6 points) occupied, the system will automatically enter the next cycle,
C each cycle prize is 600 gold coins, infinite cycle
as shown in the figure,
as long as you are at the highest position, you can pick up money no matter whether the six positions below you are members recommended by you or not, which is the money picking prize
similarly, members in position 1 can pick up money in positions 3 and 4, which may not be members recommended by position 1
similarly, members in position 2 can pick up money in positions 5 and 6, The members of positions 5 and 6 who pick up money are not necessarily the members recommended by 2.
picking up money is an infinite cycle, and when they reach 6, they can automatically enter the next cycle, and when they enter the next cycle, they can also have the opportunity to pick up money
the third is the leadership award&# 160;&# 160; Take 10% of the daily proction capacity of generation 1-10
&; Leadership Bonus, which is the most important part of the bonus. Leadership bonus can take 10% of all proction capacity within 10 generations per day, every day. Moreover, with the increase of the number of mints in your team as a whole, leadership bonus will continue to rise. It should be noted that one person is recommended to take one generation, two people are recommended to take two generations, and so on. Although the depth is limited, but the width is unlimited! The highest leadership award is 10000 per day< br /> &# 160; If the member you recommend invests 800, he will get 8 gold coins every day, and you can get 10% of his daily proction capacity, that is, 0.8 gold coins. Although 0.8 gold coins are few, the power of compound interest multiplication is amazing
suppose you directly recommend 10 members, all of which belong to your first generation,
these 10 members recommend 10 more, 10 * 10 is 100, and these 100 members are your second generation,
then each of these 100 people recommends 10 members respectively, and 100 * 10 is 1000, and these 1000 members are your third generation,
&; Then you have 1110 members in the first three generations; According to the most basic investment of 800 yuan per person to buy a mint,
&; Then the leadership award you get every day is: 0.8 * 1110 = 888,
& 160; Is it a pleasure to earn 888 gold coins every day< br /> &# 160;&# 160;&# 160;&# 160;
moreover, the leader's bonus can be obtained for 10 generations in a row, for example
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
India will clearly put forward a law and regulation prohibiting digital currency to punish those who buy, sell or even own such digital currency in a certain country this is likely to limit the enthusiasm of millions of Indian investors in digital currency projects. The agenda calls for a ban on the possession, sale and purchase of digital currencies by indivials such as BTC, and for the creation of a framework for virtual currencies on the official website of the government of India. However, the recent views of the Indian government have convinced investors that the Indian government is likely to adopt a more relaxed policy towards this rapidly developing sales market
security according to this survey, the digital money sales market is confused by Internet hackers and Internet criminals, whose theme activities have already caused millions of dollars of theft. Digital currency must apply blockchain application to deal with the trust problems in mutual trading< the way to deal with security risks is to adopt more stringent security precautions in order to better protect investors, strict security measures have been adopted to prevent network hackers from stealing investors' money. Although this kind of security measures will cause some shortcomings, such as the whole process of moving digital currency from offline to online, the assets of foreign exchange traders are more secure
1: Because the Central Bank of China defines bitcoin as a special Internet commodity and denies its monetary attribute
2: bitcoin cannot be used for payment. Therefore, bitcoin wallets cannot be used in the mainland, but they can be used outside the mainland
3: however, you can switch the apple store to Hong Kong or other regions to download bitcoin wallets, such as blockchain wallets, Bitai wallets, etc< br />
at present, virtual digital currency is still in the stage of transition, research and development, and testing, and has not been recognized by the whole world, although some countries have started the relevant research process, and even will issue their own digital currency but there is a premise of digital currency, which is decentralization. A decentralized digital currency without control means cultural differences to a country
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Second, the electronic currency will be more convenient for people's proction and life, which is determined by the convenience and liquidity of currency. The replacement of metal currency by paper currency greatly facilitates people's proction and life, and the replacement of paper currency by digital currency is also determined by its characteristics. Third, from the social and economic point of view, digital currency has security, rapid circulation and environmental protection, which is lacking in paper money. The use of digital currency can improve the economic efficiency of the whole society and make the economy more active
no one dares to say that bitcoin, Ruitai coin and Laite coin have been recognized by China.