Pan Gongsheng virtual currency
in fact, this does not mean much to us. After all, we have never experienced "sudden wealth". How can we talk about "bankruptcy"
bitcoin can be regarded as an imperial presence in virtual currency, and the price of each one is amazing
after bitcoin plummeted some time ago, I saw a very interesting passage:
a friend in the coin circle was still talking about buying a house in the second ring of the imperial capital last year. When I met him today, he said to me: Hello, this is your take out
people who once relied on bitcoin and were worth billions of dollars have fallen to this point in just a few days. How can we not let people sigh
12% in a day, 42% in a month, 77% in a year, and 1.6 trillion in evaporation, no less than the magnitude 10 earthquake
bitcoin, which has doubled 25 million times in the past eight years, has now become a boundless hell struggling to survive
at the end of 2017, the high price of US $20000 was amazing,
10 bitcoins can buy a Mercedes Benz S500,
100 bitcoins can buy a three bedroom apartment in Shenzhen. It doesn't look like much, does it
but in 2009, one dollar could buy 1309 bitcoins. Do you think you missed dozens of billions
however, as we approach the end of the year, bitcoin has become a sad and helpless topic
at the beginning of bitcoin's decline, most people scrambled to get the bottom, but did not think that it was like jumping into an endless abyss, the bottom was broken again and again, and it was just between your thoughts that you lost everything
for the sadness of currency speculation, those who don't will regret it even more
in the past 11 years, I knew that someone had asked for 6800 financial procts on hand
but in the end, instead of buying bitcoin, she spent it traveling
if you buy it, it will be worth about 100 million at the end of 17! Even if it's 4000 dollars, there's 20 million
it turns out that most of the time, we just miss hundreds of millions of properties, but we don't know it
if we want to make money, the stock market and real estate market are all weak, where can we compare with the bitcoin market
of course, some people have studied that every sharp fall of bitcoin will predict the next sharp rise:
in November 2011, US $30 fell to US $2, a 93% drop
in December 2013, it dropped from $1166 to $170, a drop of 85%
since 2017, it has fallen below $4000, a 77% decline
it means that every fall will be followed by a more violent rise
however, many people will suffer from Stockholm syndrome after being locked up. The more they are locked up, the more convinced they are of the scarcity of bitcoin, and then they will surely usher in a ten thousand times soaring future
after all, most of the time, people who rely on bitcoin to make a fortune are not willing to believe that they will lose money
stock god Warren Buffett once warned us: bitcoin is a mirage, a way to transfer funds, and the quadratic power of rat poison. Cryptocurrency has no bottom. What you can do is to stay as far away as possible
we don't know whether bitcoin will continue to fall or soar overnight in the near future. All we can do is wait and see
admission? It depends on your own choice. After all, every financial management has its own risks
be cautious when entering the market. This sentence is not only applicable to the stock market, but also to the bitcoin circle
but as the saying goes: if you are brave enough, if you are hungry enough, you can decide for yourself! Mi Xiaoli, a new way of life.
On January 18, the business management department of the people's Bank of China issued the "notice on carrying out self inspection and rectification of payment services for illegal virtual currency transactions", which made it clear that the unit and its branches are strictly prohibited from providing services for virtual currency transactions, and took effective measures to prevent payment channels from being used for virtual currency transactions
the notice also shows that for the discovered virtual currency transactions, the payment channels of relevant transaction entities should be closed in time, and the funds to be settled should be properly handled
reported and quoted pan Gongsheng as saying in the memo: "we should always maintain a high pressure on the virtual money market, strictly prevent the risk of virtual money from gathering again, and eliminate the potential risks in the bud." He also said that the national and local authorities should ban the places that provide bitcoin and other virtual currency centralized trading, as well as the so-called "wallet" service providers that provide guarantee and clearing services for virtual currency centralized trading, and indivials or institutions that provide market maker services for centralized trading
on January 18, 2018, the business management department of the people's Bank of China issued the "notice on self inspection and rectification of payment services for illegal virtual currency transactions", which made it clear that the unit and its branches are strictly prohibited to provide services for virtual currency transactions, and effective measures are taken to prevent payment channels from being used for virtual currency transactions
the notice also shows that for the discovered virtual currency transactions, the payment channels of relevant transaction entities should be closed in time, and the funds to be settled should be properly handled
it is understood that virtual currency refers to non real currency. The popular digital currencies in 2013 include bitcoin, Leyte coin, infinite coin, quark coin, zeta coin, BBQ coin, penny coin (Internet), invisible gold bar, red coin and prime currency. At present, hundreds of digital currencies are issued all over the world< On January 14, the Ministry of public security, the Supreme People's Procuratorate, the Supreme People's court, the Ministry of instry and information technology, the people's Bank of China and other relevant enterprises said that they would adopt a joint governance model, join hands with more government departments and enterprises to crack down on the network black instrial chain and jointly build a "network security community"<
CCTV also quoted Li Xuyang, head of Tencent's security and anti fraud laboratory, as saying that there are more than 2000 kinds of tokens active in the market and more than 3000 pyramid schemes. The amount and harm involved in such crimes are very large
e to concerns about excessive speculation, money laundering and tax evasion, some government agencies in foreign markets also hold a strong regulatory attitude towards cryptocurrencies such as bitcoin. South Korea has announced the implementation of the real name system for virtual currency transactions. India's Ministry of Finance issued a warning to investors about the risks of cryptocurrency transactions such as bitcoin, saying that digital currency investment is like a "Ponzi scheme"<
according to Reuters' January 16 daily report, Reuters saw an internal memoranm of a government meeting showing that pan Gongsheng, vice governor of the people's Bank of China, believed that centralized trading of virtual currency and indivials or institutions providing related services should be prohibited<
Pan Gongsheng was quoted as saying in the memo: "we should always maintain high pressure on the virtual currency market, strictly prevent the risk of virtual currency from gathering again, and eliminate the potential risks in the bud." He also said that the national and local authorities should ban the places that provide bitcoin and other virtual currency centralized trading, as well as the so-called "wallet" service providers that provide guarantee and clearing services for virtual currency centralized trading, and indivials or institutions that provide market maker services for centralized trading.
On January 16, it was reported that pan Gongsheng, vice governor of the people's Bank of China, believed that centralized trading of virtual currency should be prohibited, and that indivials and enterprises should be prohibited from providing related services, according to an internal meeting minutes
Pan Gongsheng said that the state and local governments should seize the places that provide centralized transactions for virtual currency, and bitcoin is the largest virtual currency. They should also ban indivials and institutions, such as online "wallet" service providers, that provide market making, guarantee and clearing services for centralized transactions in such currencies
China has become the world's largest source of cryptocurrency mining , but pan Gongsheng said that the government should take measures to prohibit such behavior. He suggested that local governments use electricity price adjustment, land use, taxation and environmental protection measures to guide enterprises engaged in such activities to "exit orderly"
Invisible bitcoin can not only make people rich or poor overnight, but also bring people worry about their lives
According to Ukrainian media reports quoted by the daily telegraph, on Tuesday (December 26), Pavel Lerner, CEO of the British bitcoin exchange exmo, was kidnapped after leaving his office in Kiev, Ukraine, and dragged into a black galloping car by a group of masked peopleafter the above news came out, a spokesperson of exmo told the daily telegraph that we are doing our best to speed up the search for Lerner and welcome all clues from the outside world. Exmo's business is running as usual and all users' funds are absolutely safe. According to the company's official website, the platform has more than 900000 users
after the kidnapping incident attracted public attention, exmo also announced on official twitter on Thursday that it had been attacked by DDoS (distributed denial of service) with the intention of destroying platform transactions
according to Wall Street reports, at the beginning of this month, when bitcoin rose to more than US $13000, the payment system of nice hash, the world's largest digital currency mining platform, was hacked and bitcoin in users' wallets was stolen. Bitcoin millionaire, a bitcoin information website, has since estimated that as many as 4736 bitcoins were stolen by hackers, with a total value of more than $62 million
interestingly, as a foreign netizen imagined, after the kidnappers received the ransom, if bitcoin continued to appreciate, it would be OK. If bitcoin collapsed before the gloves turned, wouldn't it be a "huge loss"
In fact, this is also the old question in the minds of many investors - how long can bitcoin's investment boom last On December 2, when talking about bitcoin in public activities, pan Gongsheng, vice governor of the people's Bank of China, said that it was a decisive and correct decision for regulators to shut down bitcoin trading platform and stop ICO a few months ago According to BBC news, on December 14, Andrew Bailey, CEO of the financial conct authority (FCA), the UK's top regulator, issued a warning to investors, saying that bitcoin buyers should be ready for "full compensation". Bitcoin lacks the endorsement and support of the government and the central bank, and its risk level is the same as gambling, he saidon Thursday (December 28), the South Korean government announced the countermeasures to combat virtual currency speculation, and considered closing some virtual currency transactions, so as to curb excessive speculation. In addition, the South Korean government has decided to implement the real name system of virtual currency trading and expand the investigation authority of the Fair Trade Commission, the anti-monopoly law enforcement agency
In a statement, the South Korean government said that cryptocurrency speculation in South Korea has gone too far and has become irrational, according to the report. The government can no longer allow abnormal speculation to developthe Indian authorities also issued a warning. On Friday, India's finance ministry warned investors about the risks of cryptocurrencies such as bitcoin, saying digital currency investments look like a Ponzi scheme, Reuters reported. In a statement, India's Ministry of Finance said investors and other participants in digital currency transactions were "entirely at their own risk" and advised that it was best to avoid such investments
but from the perspective of optimists, bitcoin is not as static as gold. As a virtual currency, its software code is constantly developing, and its functions can be constantly adjusted, improved and updated, and its value can be realized in unimaginable ways, such as, Many bitcoin fans are looking forward to bitcoin's "lightning network" (an improved way to facilitate payment). If bitcoin gets more attractive functions in the process of continuous evolution, people can even use it for convenient and fast cross-border payment
according to China Securities Journal, based on the sustainability of bitcoin development, bitcoin supporters believe that even if the market value of cryptocurrency expands to 20 times the current value, the market will not go crazy. However, as far as bitcoin itself is concerned, with more and more new technologies coming out, bitcoin's share in the cryptocurrency market will show a downward trend in the future
Hong shuning, a senior researcher of Suning Institute of financial research, recently wrote an article, imagining two situations of "truly killing bitcoin":first, all bitcoin development teams are conservative and complacent, no longer absorbing the latest scientific and technological achievements to improve themselves, resulting in the emergence of a new digital currency with all aspects of technical indicators exceeding bitcoin, It is widely accepted by the society and then replaces bitcoin. This is the failure of bitcoin, but also the success of virtual digital currency
Second, there are serious loopholes in the bitcoin protocol or wallet software, which lead to the security of the whole bitcoin system can not be guaranteed, a large area of funds are stolen, sold at a low price and uncontrollable in the short term, and the social confidence in bitcoin is completely lost
so. In this world, money is easy to use
China's monetary policy in 2020: China's economic work in 2020, clearly continue to implement positive fiscal policy and stable monetary policy
continue to implement prudent monetary policy to create a good monetary and financial environment for promoting high-quality economic development. China is one of the few major economies in the world that still adopts a normalized monetary policy
we will adhere to the fundamental requirements of financial services for the real economy, comprehensively consider economic growth, inflation expectations, macro leverage and exchange rate stability, maintain flexibility and moderation, strengthen counter cyclical adjustment, dredge the policy transmission mechanism, improve the efficiency of monetary policy, give full play to the guiding role of structural tools, and increase the investment in key areas and weak links, especially small and micro enterprises, private enterprises, and enterprises The support of manufacturing instry should be strengthened to serve the high-quality development of economy
extended data:
monetary policy's anti business cycle adjustment refers to monetary policy's "acting against the economic direction". When the economic growth is too fast and the pressure of inflation increases, we should implement a tight monetary policy, raise interest rates or the statutory deposit reserve ratio, tighten money supply and credit, cool the overheated economy and curb the excessive inflation rate
On the contrary, when the economic growth rate declines or there is a risk of recession, monetary policy should rece interest rates, increase money supply and total credit, ensure liquidity supply, and stimulate investment and consumptionat the stage of economic downturn, especially under the impact of financial crisis, when financial institutions or enterprises are faced with short-term funding shortage, the central bank should provide financing facilities for financial institutions, promote the reasonable and stable growth of money and credit, improve the financing environment, maintain the trust of investors, and provide a relatively loose financial environment for economic growth. The application of monetary policy's counter cyclical regulation aims at regulating the cyclical fluctuation of economy
is different from Alipay, WeChat and other electronic payment. Digital currency is a brand new digital credit currency which is different from traditional credit currency. On the morning of September 9, Zhou Xiaochuan, President of the people's Bank of China, Yi Gang, vice president of the people's Bank of China, and pan Gongsheng, vice president and director of the State Administration of foreign exchange, answered questions from Chinese and foreign journalists on issues related to "financial reform and development.". In response to a question about digital currency, President Zhou Xiaochuan said that bitcoin and other virtual currencies have not been recognized as retail payment instruments, and the central bank does not accept or recognize relevant services at present. At the same time, he also pointed out that the central bank is cooperating with the market to develop digital currency
At the same time, Zhou Xiaochuan also pointed out that digital currency may have some unpredictable effects on financial stability and monetary policy transmission. Therefore, it needs dynamic regulatory measures. Jin Yu, director of the Department of economics, School of economics, Shanghai University of Finance and economics, once commented that "virtual currency" may not only hide the grey transaction or even the black transaction, but also cause all kinds of risks, "crowd out" the real financial innovation, which is not concive to the sustainable and healthy development of Internet financePan Gongsheng, vice governor of the people's Bank of China and director of the State Administration of foreign exchange, today compared overseas M & A to "thorny rose" and "quicksand in hand" at the 2017 annual meeting of the China Development Forum, saying that overseas M & A needs careful and full demonstration. However, in the process of China's capital going out, there are many enterprises in the name of buying football clubs to transfer assets
Pan Gongsheng stressed that the Chinese government has always encouraged Chinese enterprises to participate in the international market and foreign investment, but foreign investment should be more healthy and orderly. In the past few months, the growth rate of ODI has declined, and market players are graally returning to rationality. In the 1980s, Japan's call to buy the United States was also very high. Such a lesson is not far away. When Chinese enterprises go out, going fast does not mean going well. Only going steadily can they go wellPan Gongsheng said: "I have also been engaged in overseas mergers and acquisitions in commercial institutions. My experience is that overseas M & A is sometimes like a bunch of roses with thorns. We must be careful and fully demonstrate it. It's like picking up a handful of sand on the beach. It looks like it's caught, but it'll run away from you in the end. "
according to observer.com, the major Chinese enterprises buying football teams and clubs overseas in 2016 are as follows:
Fosun Group bought Championship wolves, Chinese consortium TTA bought Birmingham football team, Yun yiguokai bought West bromidge football team, double-edged sword sports bought La Liga Granada football team, La Liga joy Duo bought La Liga B team, Hu milia football team Xinghui interactive bought Spanish team, Suning bought Italian Inter Milan, the founder of seven days hotel bought French team, Hanhua bought Premier League team hull (preliminary acquisition agreement), Chinese consortium orekin bought French team Auxerre, Chinese consortium led by China Europe sports bought Italian team AC Milan, Shenzhen Lehman bought Australian Newcastle jet team, China Europe sports group bought Italian team AC Milan, China Europe sports group bought French team Auxerre, China Europe sports group bought Italian team AC Milan, China Europe sports group bought Australian Newcastle jet team, China Europe sports group bought Italian team AC Milan, China Europe sports group bought Italian team AC Milan China investment fund IDG bought Lyon of France, Xu Genbao bought lolca of Spain through Shanghai Longfeng enterprise group, Everbright Group bought Liverpool of England, etc
In addition, at the forum, pan Gongsheng also talked about China's foreign exchange reserves, RMB exchange rate, foreign investment and other hot issues Pan Gongsheng once again mentioned his analogy in an interview with China first finance and economics at the beginning of the year that the "open window" of foreign exchange management policy will not be closed again: "this analogy may not be appropriate, but the attitude is very clear, that is, China's foreign exchange management will not go back, We will not go back to the prison of capital control. " For foreign direct investment in China, pan Gongsheng said that in 2016, foreign direct investment in China ranked third in the world and first in emerging markets, and the investment structure has greatly improved. It is expected that with the growth of China's economy, the advancement of structural reform and China's huge market volume, China will remain an attractive investment destination for long-term capital At the same time, he promised that China will actively create a relaxed and orderly investment environment for foreign investors in China, and there will be no restrictions on the real and compliant capital transfer and payment, such as capital increase, capital rection, share transfer and capital withdrawalin response to previous media reports that the profits earned by foreign enterprises in China can not be remitted normally, pan Gongsheng said that the profits earned by foreign enterprises in China can be reinvested in China or remitted, but there are some basic conditions for remitting:
first, according to the legal requirements of Chinese companies, it is necessary to make up for the previous losses; Second, there should be a resolution of the board of directors on profit distribution; Third, there should be a financial statement audited by the audit department; Fourth, there should be a tax payment certificate in China. To meet these requirements, there is no problem for enterprises to remit profits
"these four conditions are not the present conditions, they have always existed in the past."
Pan Gongsheng said: "we should continue to promote the two-way opening of China's financial market. One of the important tasks is to promote the opening of China's capital market." However, he also stressed: "the opening of capital account should be closely related to the stage of a country's economic development, the situation of financial market and the stability of finance. Therefore, in different periods, the focus, rhythm and timing of promotion should be related to the situation of a country's financial market and the situation of the international market. " Pan Gongsheng also pointed out two important factors for observing cross-border capital flow: more diversified holders of external assets and the process of external debt repaymentpreviously, the main holders of China's foreign assets were official foreign exchange reserve assets, the highest of which was more than 70%, but since 2010, the proportion of foreign assets held by market entities has been increasing, reaching 50% in 2016
in addition, ring the implementation of quantitative easing monetary policy by the Federal Reserve, Chinese enterprises connected more foreign debts. After the Federal Reserve began to raise interest rates and the domestic financing environment was improved, enterprises began to speed up the repayment of foreign debts in the second half of 2014 to rece the risk of currency mismatch. However, pan Gongsheng pointed out that since the second quarter of 2016, the process of deleveraging foreign debt of enterprises has basically ended, and the scale of foreign debt has begun to rise
he said that China's cross-border capital flows are converging towards equilibrium. With the deepening of supply side structural reform, China's economic growth will be of better quality in the future; China's current account surplus remains in a reasonable range, and China will remain one of the most competitive and attractive destinations for long-term overseas capital investment
He stressed once again that China's foreign exchange reserves are abundant, accounting for 28% of the global foreign exchange reserves For the RMB exchange rate, pan Gongsheng said that he has been improving the formation mechanism of the exchange rate in accordance with the direction of market-oriented reform, and constantly improving the regularity, transparency and marketization of the exchange rate policy: "to maintain the basic stability of the RMB exchange rate at a reasonable and balanced level, Maintain the stability of market expectations, especially for a basket of currencies; At the same time, according to the changes in the international foreign exchange market and market supply and demand, it will enhance the flexibility of the exchange rate and maintain the function of the exchange rate in adjusting the balance of payments
"in the past period of time, we also saw that the RMB exchange rate remained basically stable in two-way fluctuations, in which the RMB fluctuated slightly against a basket of currencies, and the bilateral exchange rate of RMB against the US dollar also fluctuated upward and downward."
According to the analysis of China Merchants Securities, the reasons for the appreciation of RMB against the US dollar are as follows: on the one hand, the US dollar index continued to fall , and the RMB rose passively; In addition, China was the first country to control the epidemic effectively, and both import and export and current account of balance of payments achieved surplus , which supported the appreciation of RMB; Under the balance of payments capital and financial account, whether in the stock or bond market, foreign capital inflow also supports the RMB exchange rate
the macro research team of Societe Generale believes that the influencing factors of the exchange rate market may return to the economic recovery performance under the epidemic situation, and the market keynote is expected to be mainly volatile this week. In the short term, there is little room for further increase of market risk preference, and the RMB exchange rate falls into a volatile market; The year-end settlement of foreign exchange and the seasonal weakness of the US dollar mean that there is still room for RMB appreciation
extended materials
the policy environment of RMB cross-border use is expected to be optimized:
in order to further facilitate the cross-border use of RMB, the people's Bank of China and the state owned assets supervision and Administration Commission jointly held a forum on November 12, with the theme of "RMB cross-border use better serves the trade and investment facilitation of enterprises". Pan Gongsheng, vice governor of the people's Bank of China and director of the foreign exchange bureau, and Yuan Ye, deputy director of the state owned assets supervision and Administration Commission, attended the meeting. Responsible comrades of relevant departments and some enterprises and banks attended the meeting
the two-and-a-half-hour high-level forum released a series of policy signals. The people's Bank of China said that it has worked out the notice on further optimizing the cross-border RMB policy to support the stability of foreign trade and foreign investment in cooperation with the national development and Reform Commission, the Ministry of Commerce and the state owned assets supervision and Administration Commission, and the policy document will be released soon
in the next step, we will continue to adhere to market driven and enterprise independent choice, continue to optimize the policy environment for RMB cross-border use, and improve the efficiency of RMB cross-border and offshore clearing