The influence of virtual money on money supply
Publish: 2021-04-15 13:27:19
1. What is virtual currency? Virtual currency refers to non real currency. Due to the development of Internet society, it was born. Network virtual currency can be roughly divided into:
the first category is familiar game currency
since the Internet has established a portal and community to realize the game networking, there has been a "financial market" for virtual currency, where players can trade game currency
the second type is the special currency issued by the portal website or instant messaging service provider, which is used to purchase the services in the website. The most widely used is Tencent's q-coin, which can be used to purchase membership, QQ show and other value-added services
the third kind of virtual currency on the Internet, such as bitcoin (BTC), Wright currency (LTC), etc. It is mainly used for Internet financial investment, and can also be directly used in daily life as a new currency
from the above classification, we can see that the impact of different types of virtual currency on our economic life is divided into fields and groups. Mainly in the field of Internet game crowd and network service users are most affected
the functions derived from bitcoin and directly used in daily life have been declared illegal by the state financial regulatory authorities. The impact on people's lives is invisible.
the first category is familiar game currency
since the Internet has established a portal and community to realize the game networking, there has been a "financial market" for virtual currency, where players can trade game currency
the second type is the special currency issued by the portal website or instant messaging service provider, which is used to purchase the services in the website. The most widely used is Tencent's q-coin, which can be used to purchase membership, QQ show and other value-added services
the third kind of virtual currency on the Internet, such as bitcoin (BTC), Wright currency (LTC), etc. It is mainly used for Internet financial investment, and can also be directly used in daily life as a new currency
from the above classification, we can see that the impact of different types of virtual currency on our economic life is divided into fields and groups. Mainly in the field of Internet game crowd and network service users are most affected
the functions derived from bitcoin and directly used in daily life have been declared illegal by the state financial regulatory authorities. The impact on people's lives is invisible.
2. The definition and characteristics of virtual currency
the definition of traditional currency
traditional currency, that is, currency in the general sense, refers to the paper money and subsidiary currency issued by the central bank, which includes cash and deposits in circulation. Traditional currency has the functions of value scale, circulation means, payment means and storage means< (2) the definition and characteristics of virtual currency, also known as network currency, digital currency and electronic currency, is based on electronic information network, with commercial electronic machines and various transaction cards as the media, with electronic computer technology and communication technology as the means, and stored in the bank's computer system in the form of electronic data, And through the computer network system in the form of electronic information transmission to achieve circulation and payment function of money, is a new payment tool in the late 1990s
virtual currency is a currency symbol with no value of its own, and it is invisible. The exchange between the buyer and the seller is only reflected in the increase and decrease of the deposit balance in the bank account; At any time in any place that the network or device can cover, both parties can complete the transaction as long as there is exchange behavior; Virtual currency has the function of transcending time, space and region, which has greatly improved the speed and efficiency of money media transactions, greatly reced transaction costs, and promoted the process of globalization of capital flow and financial market integration. Virtual currency is a kind of non-standard currency, which has no geographical currency unit
the difference and connection between virtual currency and traditional currency
virtual currency combines cash in circulation with deposit organically by using electronic system. It has the characteristics of deposit in traditional currency, cash and non cash conversion and information display. In the scope of use, it is the same as the traditional currency, mainly used for small transactions; In commodity transaction payment, it also has the characteristics of autonomy of transaction behavior, consistency of transaction conditions, independence of transaction mode and sustainability of transaction process.
the definition of traditional currency
traditional currency, that is, currency in the general sense, refers to the paper money and subsidiary currency issued by the central bank, which includes cash and deposits in circulation. Traditional currency has the functions of value scale, circulation means, payment means and storage means< (2) the definition and characteristics of virtual currency, also known as network currency, digital currency and electronic currency, is based on electronic information network, with commercial electronic machines and various transaction cards as the media, with electronic computer technology and communication technology as the means, and stored in the bank's computer system in the form of electronic data, And through the computer network system in the form of electronic information transmission to achieve circulation and payment function of money, is a new payment tool in the late 1990s
virtual currency is a currency symbol with no value of its own, and it is invisible. The exchange between the buyer and the seller is only reflected in the increase and decrease of the deposit balance in the bank account; At any time in any place that the network or device can cover, both parties can complete the transaction as long as there is exchange behavior; Virtual currency has the function of transcending time, space and region, which has greatly improved the speed and efficiency of money media transactions, greatly reced transaction costs, and promoted the process of globalization of capital flow and financial market integration. Virtual currency is a kind of non-standard currency, which has no geographical currency unit
the difference and connection between virtual currency and traditional currency
virtual currency combines cash in circulation with deposit organically by using electronic system. It has the characteristics of deposit in traditional currency, cash and non cash conversion and information display. In the scope of use, it is the same as the traditional currency, mainly used for small transactions; In commodity transaction payment, it also has the characteristics of autonomy of transaction behavior, consistency of transaction conditions, independence of transaction mode and sustainability of transaction process.
3. Now mining time input cost is very high, and mining machine input cost is also very high. If you are a novice, it is recommended that you first use legal currency to exchange from the exchange. It is relatively simple, and the okex platform is recommended for security. Your adoption is the driving force of my answer.
4. There's no fake defense
5. There are also three basic factors in the regulation mechanism of money supply: the first is base money, the second is excess reserve, and the third is money supply. Money supply
under the central bank system, the central bank provides the base money for the commercial banks to hold multiple amplification effect
after decting the required deposit reserve (legal reserve), the commercial banks form excess reserve, which will proce multiple amplification effect through its repeated use in the whole commercial banking system, making the central bank 1 yuan in debt, After the application of asset business in commercial bank system, it becomes a few yuan liability of commercial bank. The enlarged bank liabilities in the commercial banking system, together with part of the cash provided by the central bank to the public, constitute the whole money supply, which is provided to the non bank economic sectors
the above analysis shows that base money is the prerequisite of money supply. To control the money supply, we must limit the base money to a reasonable range. The size of the excess reserve is the constraint of the credit expansion ability in the commercial bank system. And the whole money supply is the proct of base money and credit expansion capacity (money multiplier). It can be seen that in the mechanism of money supply regulation, the important role of the three basic factors of "base money excess reserve and its multiplier effect money supply" can not be ignored.
under the central bank system, the central bank provides the base money for the commercial banks to hold multiple amplification effect
after decting the required deposit reserve (legal reserve), the commercial banks form excess reserve, which will proce multiple amplification effect through its repeated use in the whole commercial banking system, making the central bank 1 yuan in debt, After the application of asset business in commercial bank system, it becomes a few yuan liability of commercial bank. The enlarged bank liabilities in the commercial banking system, together with part of the cash provided by the central bank to the public, constitute the whole money supply, which is provided to the non bank economic sectors
the above analysis shows that base money is the prerequisite of money supply. To control the money supply, we must limit the base money to a reasonable range. The size of the excess reserve is the constraint of the credit expansion ability in the commercial bank system. And the whole money supply is the proct of base money and credit expansion capacity (money multiplier). It can be seen that in the mechanism of money supply regulation, the important role of the three basic factors of "base money excess reserve and its multiplier effect money supply" can not be ignored.
6. Base money, also known as strong money, is composed of reserve (R) of commercial banks and currency in circulation (c); If the money multiplier is relatively stable, the money supply depends on the amount of base money
7. Base money is also called high-energy money because it has the ability to double or shrink the total amount of money supply. It is the debt certificate issued by the central bank, which is expressed as the deposit reserve (R) of commercial banks and the currency (c) held by the public. Base currency = legal reserve + excess reserve + cash on hand of the banking system + cash held by the public. 1. The change of the creditor's rights of the central bank to commercial banks and other financial institutions is the most important factor affecting the base currency. Generally speaking, the increase of the central bank's creditor's rights means that the central bank's rediscount or refinance assets to the commercial banks increase. At the same time, it also shows that the base money injected into the circulation through the commercial banks increases, which will inevitably lead to the increase of the excess reserves of the commercial banks and the multiple expansion of the money supply. On the contrary, if the central bank's claims on financial institutions decrease, the money supply will shrink significantly. It is generally believed that under the condition of market economy, the central bank has a strong control over this part of creditor's rights. 2. Amount of foreign net assets foreign net assets consist of foreign exchange, gold and the net assets of the central bank in international financial institutions. Among them, foreign exchange and gold are purchased by the central bank with the base currency. In general, if the central bank does not take the stability of exchange rate as the policy objective, it will have a greater initiative in the base currency through the asset business; Otherwise, the central bank will passively enter the foreign exchange market to intervene in order to stabilize the exchange rate because it wants to maintain the stability of the exchange rate. In this way, the supply and demand of the foreign exchange market will have a great impact on the foreign exchange account of the central bank, resulting in the passivity of the base currency released through this channel. 3. There are two ways for the central bank to increase the net debt to the government: one is to directly subscribe for government bonds; the other is to increase the net debt to the government; Second, loans to finance to make up the deficit. No matter which channel, it means that the central bank has injected the base money into the circulation field through the financial department. 4. Other items (net) this mainly refers to the increase or decrease of fixed assets and the increase or decrease of accounts receivable and payable of the central bank in the process of capital clearing. They all have an impact on the amount of base money. There are three main channels for the monetary authority to release the base money: first, to issue currency directly; Second, change gold and foreign exchange reserves; Third, implement monetary policy. Base money is an unrealistic liability of the central bank. The central bank obtains seigniorage for the government by monopolizing the casting of base money, and regulates the economy by controlling the amount of base money. When the central bank uses monetary policies such as deposit reserve ratio, open market business and rediscount rate, it plays a role by influencing the reserve in the base money.
8. Open market business refers to the central bank's policy behavior of buying and selling government bonds in the secondary securities market to increase or rece the money supply in circulation
when the central bank sells bonds, the public uses the demand deposits of commercial banks to buy bonds, and the initial demand deposits of banks decrease. Under the condition that the deposit multiplier remains unchanged, the money supply decreases; On the contrary, when the central bank buys bonds and pays money to the public, the initial demand deposits of the bank will increase, and the money supply will increase while the deposit multiplier remains unchanged.
when the central bank sells bonds, the public uses the demand deposits of commercial banks to buy bonds, and the initial demand deposits of banks decrease. Under the condition that the deposit multiplier remains unchanged, the money supply decreases; On the contrary, when the central bank buys bonds and pays money to the public, the initial demand deposits of the bank will increase, and the money supply will increase while the deposit multiplier remains unchanged.
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