Virtual currency plummeted on September 8

1. As a typical representative of virtual currency, bitcoin's fall has directly or indirectly affected related instries. The news of players' wealth shrinking and mining machinery selling by Jin emerge one after another. As investors become cautious about virtual currency investment, the market is in a downturn. Facing the sluggish market, players can not see the hope of investment, so it is inevitable that virtual currency has no future. However, there are also players in low-key bottom hunting, that bitcoin led virtual currency, has great investment value< br />
The essential value of any kind of currency is that it can be used as the value scale to measure other things and has stability. The virtual currency here is not game currency, but a digital cryptocurrency like bitcoin. The bottom layer uses blockchain technology, which has the characteristics of decentralization, information tampering and anonymity. At present, cryptocurrency headed by bitcoin can not bear the property of currency. It is not fair to conclude that there is no value

a consensus has been reached in the currency circle by default, that is, bitcoin is similar to diamonds in the real world. The value of diamonds is given by businessmen, and it has been agreed that diamonds can symbolize love and have practical properties. Mining diamonds and gold also need to consume a lot of costs, but it is because a lot of costs are consumed that the constant intrinsic value of diamonds and gold can be ensured. The resources that can be obtained casually are prone to inflation< br />
The fall in 2018 makes investors return to rationality, which is actually concive to the standardized development of the currency circle. Now, regardless of the practical value of digital currency, this capital harvest makes investors further understand the importance of risk management. Money circle and Internet Finance allow investors to see that they are profitable, so they don't have to think about investing in it. It is ultimately their own loss. Whether this bear market can make investors understand the essence of money circle is still unknown. However, the future development of the coin circle still needs government regulation, as well as the regular operation of platforms and projects. Of course, only with the support of capital can the coin circle develop healthily and systematically. Therefore, capital outflow is the biggest reason for bitcoin's sharp decline.

2.

Following the seven departments' call to stop the financing of token (ICO), under the high pressure of supervision, a number of virtual currency trading platforms, including bitcoin China, huocoin.com and okcoin.com, have successively shut down all business of the platform or RMB trading business since the 14th. What are the risks of virtual currency transaction? Why do regulatory authorities take action to rectify? What's the future of the "money speculators" who used to be crazy about it

according to instry insiders, with the increasingly clear regulatory attitude towards the virtual currency trading platform, the relevant local departments have begun to clean up and rectify the work, and some trading platforms are according to regulatory requirements, orderly stop trading business within a certain period of time, and graally guide users to withdraw their money

the reporter observed in a number of "bitcoin investment exchange groups" that with the closing of trading platforms one after another, the price of bitcoin dropped sharply, and many investors called "losing money badly". In response to the promise made by the three trading platforms that "the withdrawal of money and cash will not be affected", on the afternoon of the 16th, the reporter tried to contact the customer service of the three trading platforms by telephone, but failed to get through e to "too many consulting customers" or busy lines

the reporter learned that with the increase of the price difference of virtual currency in the domestic and foreign trading markets, in order to avoid risks and preserve value, some investors have returned the virtual currency on the domestic trading platform to the personal bitcoin wallet and switched to the overseas market and OTC trading

Wang Yongli, vice chairman of China International Futures Co., Ltd., suggested strengthening international communication and coordination, establishing international unified regulatory rules as soon as possible, and avoiding regulatory loopholes and cross-border arbitrage

3. Beijing fire coin World Network Technology Co., Ltd.
fire coin network generally refers to Beijing fire coin World Network Technology Co., Ltd.

Beijing digital currency trading company
Beijing fire coin World Network Technology Co., Ltd. is a digital currency trading company, founded by Li Lin in Beijing on May 1, 2013. On April 4, 2014, huoyuan.com won a round of tens of millions of RMB investment from Sequoia Capital, the top venture capital institution on Wall Street. On August 5 of the same year, fire coin acquired bitcoin wallet "fast wallet" and qukuai.com<

Chinese name
Beijing huoyuantianxia Network Technology Co., Ltd.

foreign name
Huobi Technology Co, Ltd.

headquarters location
Liangsheng building, Middle Road, Xierqi, Haidian District, Beijing

business scope
digital currency transaction

founder
Li Lin

total transaction volume
200 billion yuan (as of 2016)

all authoritative information
legal representative
Li Lin

business status
in business


registered capital
100

registration time
December 18, 2013

registered address
the first floor of 29b building, No.11 anningzhuang Road, Haidian District, Beijing The above information is provided by tianyancha

94% of the people have also seen the
China coin exchange
blockchain news platform
reliable and profitable blockchain app
Company Profile
fire coin is committed to building a safe bitcoin trading platform, and the team has many years of financial risk control experience. The core members graated from Tsinghua University, Peking University, Fudan University and other domestic famous universities, and came from domestic Internet and financial enterprises such as Goldman Sachs, Internet, Oracle, Tencent and Alibaba

in April 2015, fire coin set up fire coin blockchain Research Center, and established "digital asset research project" with Internet Finance Laboratory of Wukou School of finance, Tsinghua University (former Graate School of central bank) [1]. In July 2016, together with the Internet Finance Laboratory of Wukou College of Finance and sina science and technology, huobi.com released the 2014-2016 global bitcoin Development Research Report [2]. In the same month, the fire coin blockchain research center and the Mechanical Instry Press published the book "blockchain: defining the new pattern of Finance and economy in the future" [3]<

Proct Introction
flash player: a short-term trading tool tailored for traders. It provides 250 real-time transaction records per second for 20 outlets, 0-delay flash trading, supports split screen display of trading window and quotation window, and allows users to analyze quotation chart

hotcoin app: an app with comprehensive functions in bitcoin instry. A bitcoin trading app providing registration, recharge, trading, cash withdrawal and information integration services. This app has a price reminder function<

organizational structure
Li Lin
founder and chairman

Mr. Li Lin is the founder and chairman of fire coin and the promoter of global digital currency trading. Since the establishment of fire coin, he led the team to develop fire coin into a leading digital currency trading platform in the world. By the end of 2016, the accumulated trading volume was RMB 200 billion. Before the founding of fire coin, Mr. Li Lin worked in Oracle Asia Research Center and served as a R & D Engineer; In 2009, we founded the social proct Youyi based on MSN; In 2010, the second largest independent group buying search company in China was founded. Mr. Li Lin led the team to break the instry records repeatedly, and has rich experience in Internet Finance entrepreneurship and team management<

Du Jun, co-founder and director

Mr. Du Jun is the co-founder and director of fire coin, and a world-famous digital asset investment and manager. Prior to the establishment of fire coin, Mr. Du Jun worked in Kangsheng chuangxiang, a well-known community software company, and successively served as marketing director, operation director and proct manager; After Tencent acquired Kangsheng chuangxiang, it became its core proct Discuz! Proct leader, lead Discuz! Proct design of X series and Application Center. Mr. Du Jun has outstanding performance in marketing, operation, creativity and other fields.

4. Hello friend, digital currency is not recommended

5. Which institution is more reliable in playing digital currency? Now I have a little feeling. I don't think any currency is very good. If you have a feeling, you can try it first, because it's true. A lot of people fail.

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7. Just the day before yesterday, the central bank openly recruited digital currency talents and increased research in the field of digital currency and blockchain, which fully shows that China has recognized digital currency and blockchain, and also implies that digital currency and blockchain will affect the future finance
internationally, Japan has unconditionally supported bitcoin, the European Central Bank has said that it will not regulate bitcoin, bitcoin continues to prevail in the United States, and South Korea has incorporated bitcoin into its bulk commodities. Bitcoin is everywhere, and its popularity is so high that how can the price not rise
of course, bitcoin has not been smooth sailing this year, and it can even be said that it is "ill fated". What's wrong? Let's look below:
on January 5, 2017, bitcoin broke through the historical high of three years ago, broke through the 8000 yuan mark, and once soared to 8873 yuan
then, on January 6, the people's Bank of China and its Shanghai headquarters interviewed three bitcoin exchanges in Beijing and Shanghai, namely, fire coin.com, bitcoin.com and bitcoin China. They were asked to carry out self-examination on recent anomalies and carry out corresponding rectification
as a result, bitcoin prices plummeted to 4944 yuan a few days later
on April 1, 2017, Japan recognized the legitimacy of bitcoin and other virtual currency payment means, and the "Payment Service Amendment Act" officially signed by the Japanese cabinet came into effect. In addition, e to the uncertainty of trump policy, the US Securities and asset markets are volatile, and demand for risky assets is increasing.
from May 22 to May 24, 2017, the third consensus conference was held in New York. Miners and investors were full of expectations to reach a consensus on bitcoin expansion, and bitcoin prices ushered in a big explosion. The price of bitcoin broke through 20000 yuan on June 10, and reached a new high of 21388 yuan on June 11
at this time, the news about China's regulatory policy on bitcoin came out in June and intensified. The bearish sentiment of the market rose and the price of bitcoin kept falling. As of July 16, the price of bitcoin had dropped to about 13000 yuan
later, influenced by the good news of bitcoin bifurcation on August 1, 2017, bitcoin price rebounded again in late July and reached new highs repeatedly. On August 17, bitcoin price broke through the 30000 yuan mark, and then remained stable at a high level
on September 4, seven ministries and commissions jointly issued the announcement on preventing the financing risk of token issuance, and bitcoin prices plummeted to 21000 yuan, a daily drop of 27%
with the closure of China's virtual currency platform, the price of bitcoin continued to bottom out. On September 16, the price of bitcoin fell below 20000 yuan, with the lowest price of 16250 yuan
at this time, everyone thinks that bitcoin is over. But just two weeks later, on September 30, the FSA issued operating licenses to 11 bitcoin exchanges. This event triggered the upsurge of investment enthusiasm around the world, and the market was full of emotion, which promoted the continuous rise of currency price
facts have proved once again that bitcoin is like an invincible Xiaoqiang, facing heavy pressure, and its price rises instead of falling.

8. China's central parity rate was cut by about 2% on Tuesday (August 11), resulting in the biggest one-day drop in the Yuan's exchange rate in history. The Chinese government continued to cut the central parity rate on Wednesday (August 12). The question is, what does that mean? To this, all markets give some preliminary answers immediately< One more reason for the fed to delay raising interest rates is that the yield on the benchmark 10-year Treasury note fell by more than 5% on Wednesday, then narrowed to 2.12%. Therefore, the most direct real impact of RMB depreciation is that the United States may maintain low interest rates for a longer period of time

the US Federal Reserve (FED) is likely to maintain low interest rate policy because the slowdown in China's economic growth may help the Fed confirm that the US economic situation is still weak and that it still needs to maintain interest rates near zero. But it remains to be seen whether this will be enough to offset the strong trend in the US labor market. The strong labor market is expected to push the fed to raise interest rates in September or October this year< The devaluation of RMB means that China's cost of purchasing oil, copper, coal and other commodities will rise. This may also indicate that the Chinese authorities are worried that China's economic weakness has exceeded the 7% economic growth rate announced in the first half of this year, resulting in reced demand for commodities

as mentioned above, the devaluation of the RMB has triggered concerns about China's economic slowdown, which is one of the reasons why oil prices fell about 4% on Wednesday. However, the devaluation of the RMB is not good news for some exporters, which is not concive to exporting copper and other manufacturing commodities that need Australian coal to provide energy< Thirdly, the devaluation of RMB may force other countries to devalue their currencies. However, in its analysis report in March, Morgan
Stanley predicted that the RMB would fall by about 15%, which is far higher than the current decline and may cause other Asian currencies to depreciate by 5-7%< Fourth, the impact on the US economy is limited. According to Goldman Sachs analyst MK Tang, the devaluation of RMB is not enough to offset the appreciation of RMB last year. Therefore, it is unlikely to affect China's economic growth rate rapidly. Tang explained that it is too early to talk about whether a 2% decline is enough because the central bank wants to change the way the government evaluates the yuan and make it more market-oriented

if China's economic growth does slow down significantly, it will have little impact on the United States. David kostin, an analyst at Goldman Sachs, said that China's GDP growth rate fell by 1 basis point per year, while the US GDP may decline by 0.06%. This impact can be reflected from the second quarter reports of caterpillar and other companies, and the impact may be concentrated on instrial enterprises< 5. China's real goal may be to maintain prestige and long-term stability.

China has been trying its best to hope that RMB can be included in the international reserve currency by the International Monetary Fund. To win the so-called low special drawing rights, China must prove that the yuan is "freely available.". Analysts said in a March report that the IMF rejected the yuan in 2010 because it was not "freely available.". The inclusion of SDR basket will promote China's overall rection of capital control. In particular, it may promote the market-oriented transformation of RMB exchange rate mechanism

according to experts in Asia, the result of RMB devaluation may persuade more central banks to hold RMB foreign exchange reserves, stabilize their value, or be able to buy RMB denominated commodities and other commodities. SDR may also rece the borrowing costs of Chinese exporters

from this point of view, for the sake of long-term interests, China's devaluation of RMB may suffer short-term pain.

9. The most powerful news in the market is not that a shares rose nearly 5% yesterday, but that the Central Bank of China announced today that it will further improve the quotation of the RMB exchange rate at the middle price, which will depreciate by 2.5% with reference to the closing exchange rate of the inter-bank foreign exchange market last day. In early trading, the quoted price of US dollar against RMB rose to 6.3588, which was nearly 1500 basis points higher than yesterday's closing price of 6.2125, the largest decline in history and the lowest since April 2013
the sudden announcement of the weakness of RMB is mainly e to the fact that the US economy is in the process of recovery, and the market expects that the Federal Reserve will raise interest rates within this year, resulting in the continued strength of the US dollar, the weakening of the euro and the yen, and the RMB has risen more than 15% against other currencies in the past year. China's foreign trade exports account for a large proportion of the development volume, and the appreciation of RMB poses a great threat to exports. The foreign trade data released on Saturday surprised the market. In June, the growth rate of exports just turned positive. As a result, the data in July dropped 8%, which is far greater than the market expectation. Therefore, the devaluation of RMB is reasonable, and the extent of the decline is unexpected

how to profit from the rise of US dollar and the sharp fall of RMB? A relatively easy way is to long the US dollar and short the RMB, that is, to long the USD / CNH of fxtm FTO platform
although China is the second largest economy in the world and an important participant in global market activities, its exchange rate system is extremely strict and there are many regulatory measures for RMB exchange rate. In recent years, the fluctuation range of RMB against the US dollar has been relaxed. Many pilot cities are about to cancel the exchange quota of 50000 US dollars per year for indivials. However, to a large extent, RMB is still not a freely convertible currency. Therefore, three different agency mechanisms emerge as the times require: cross-border trade RMB CNT, non deliverable offshore RMB forward NDF and deliverable offshore RMB CNH
these three kinds of RMB are generally based on onshore RMB, and different regulatory regulations and quotation methods make these three kinds of RMB have different transaction attributes
1) NDF trading began to appear around 1996. Singapore and Hong Kong RMB NDF markets are the most important offshore RMB forward trading markets in Asia. The market situation of this market reflects the expectation of the international community for the change of RMB exchange rate. Due to the low leverage of RMB NDF, the maximum is only 80 times, which means that more sufficient capital strength is needed for exports; The threshold for opening an account is high. It costs HK $500000 to open an account in Hong Kong. It belongs to OTC business. The spread is not transparent and the operation is not convenient. It is delivered quarterly, that is, in March, June, September and December. NDF is not acceptable to investors. The main participants in the RMB NDF market are large banks and investment institutions in Europe, America and other places. Their customers are mainly multinational companies with a large amount of RMB income in China, including mainland Chinese enterprises headquartered in Hong Kong
2) cross border trade of RMB CNT is mainly based on NDF. As a new offshore RMB trading center, Taiwan began in 2014. In most trading days, the trend of CNT interest rate and exchange rate middle price is consistent with CNH. This means that Taiwan traders keep a close eye on the trend of Hong Kong's CNH market
3) deliverable offshore RMB CNH is a kind of offshore RMB introced into Hong Kong in 2008. Although CNH is not completely a one-to-one reflection of RMB CNY in China, it truthfully provides information about the trend of China's currency exchange rate. The liquidity of USD / CNH is strong, which provides the most feasible opportunity for investors to invest in China. CNH will become the leading force of RMB trading, and the trading characteristics of the fast-growing offshore RMB market will also be reflected through it

in response to the trend of RMB internationalization, fxtm, as a financial institution focusing on foreign exchange and precious metal trading, pays attention to the market demand and introces investment opportunities of USD / RMB offshore (usdcnh) and EUR / RMB offshore (eurcnh) in its proct portfolio. After understanding the wide application of USD / CNH, let's see how to hedge against the rise of USD / CNH
for example, yesterday's quotation of US dollar against RMB was USD / CNH = 6.2100, today's people's ratio plummeted, and US dollar against RMB soared to USD / CNH = 6.3500
at this time, if fxtm FTO trades in RMB, fxtm FTO provides 200 times of trading leverage, and it only needs us $500 of margin to trade a long position of USD / CNH. Each base point riot is the current exchange rate level, that is, the current US $6.35. If USD / CNH price

this is the significance and charm of leveraged trading. When you do the right thing, you can make excess profits. For example, in today's US dollar RMB market, you can easily make a profit of US $8890 with us $500
however, it should be noted that leverage is also a double-edged sword. If the direction is wrong, there may be losses. Just as many people use margin trading in a shares, a sharp drop in stocks may cause all the investment funds to lose money