Bitcoin US Congress
Recently, the award-winning sentiment of the winners of a company's annual meeting spread in the circle of wechat friends: "first of all, I sincerely thank the company for rewarding me with 10 bitcoins worth 630000 yuan, and I feel lucky that I can win the prize worth 590000 yuan. Next, I'm going to make a good plan on how to use the 570000 yuan, after all, 550000 yuan is not a small amount...". Although it's just a joke, the price of bitcoin has been falling as it said
some analysts also believe that the trading price of bitcoin once fell below US $6000 before the chairman of the Commodity Futures Commission (CFTC) and the securities and Futures Commission (SEC), the two major US regulators, testified in the Senate on February 6 because of concerns about the US government's strict supervision. According to the testimony of CFTC and SEC presidents, they believe that Congress should consider expanding the scope of supervision of cryptocurrencies such as bitcoin, because most of these assets are not subject to investor protection laws
these revolutions started and ended with the creation of better and more efficient machines. But the fourth revolution, the instrial Internet of things (iiot) asserts, is coming, and it will not follow in the footsteps of its predecessors
the fourth revolution will not focus on stronger and faster machines: it will focus on machines, processing, sharing and spontaneous information behavior, fundamentally changing our relationship with tools, the world and each other
the data revolution
is not coal, steel, nor silicon. The currency of the fourth revolution will be data
a single gas turbine, coupled to the instrial Internet, generates more than four times as much data in one day as the global Twitter as a whole, but the data we analyze is less than 1%. Bill RUH, chief executive of Ge digital, predicts that digital information will overflow, and today's analysis tools are hopeless
"ten years ago, we might have introced 1TB of data every day." "Today, it's up to about 10000 TB of data," RUH told the Boston Globe. By 2020, we expect to introce about 1 million terabytes of data a day. "
the data generated by future machines is about the same as that of the library of Congress. Imagine reading every book in the library of Congress and then having to summarize what you've learned on 10 pages. The task is not only huge, but also ridiculous
the real miracle of the fourth instrial revolution will not be to proce data, but intelligent machines that can analyze these data and communicate with their peers in the network. Each networked machine will then take action to change its processes to improve efficiency and feed back its changes to the network
I hope these smart machines will bring our world economy to a climax: RUH and Ge believe that in the next 20 years, the smart machines and Internet of things instry will add 10 to 15 trillion US dollars to the global economy. Given that global gross domestic proct (GDP) was about $74 trillion in 2015, this is a huge growth
the foundation of the revolution
for the coming revolution, there are two components that are important and necessary: a centralized, instry-specific Internet communication network, such as predix of General Electric; And systematic, decentralized way, and hinder dishonest communication to promote business development
the specific iiot network must act as a hub for intelligent machines to interact with each other and with human creators. Sensors on the computer collect a large amount of data, and then filter the data in real time. In other words, it can be imagined that it happened on the basis of a machine. However, the investigation results of relay equipment and the decision made without human intervention, in order to truly build an intelligent network, the machine needs a single communication network
imagine that when the aircraft is still in the air, the sensors of the aircraft engine recognize the part that is about to fail, and then communicate with the destination airport. The engine will need maintenance and order replacement parts before landing
this intuitive machine is not a science fiction dream: it's our future
in my opinion, iiot information network is only half the success, and ultimately it is about e-commerce. Seeing it as a public road, millions of autopilot cars will run on top one day.
now, these autopilot cars run on a single system. But how do we ensure that every autopilot will obey the traffic rules? For example, how can we ensure that the vehicle does not send fraud information about its whereabouts at the time of the accident? If there are only two parties involved in the accident, then each passenger will confirm the story of his own car, and there is no way to verify the position claimed by each party
considering that decentralized, satellite based GPS will affect the situation. The system is just and connected to every car. Of course, every car can continue to lie, but it's much easier to verify which side is telling the truth
e to the nature of the GPS system and the nature of its cancellation, the autopilot car has no reason or is tampered with by its owner. This strong incentive for integrity is to promote the trade between autopilot cars, and it is necessary for owners to feel that their investment in these vehicles is safe. Br />GPS technology is for auto driving vehicle, just like network block chain technology for instrial Internet. Of course, self driving cars can run on roads without GPS, but their owners probably will not allow them to do so. Similarly, on a larger scale, machines can communicate on a single, centralized network of the instrial Internet, but only when there is no risk blockchain is the core part of bitcoin technology. Its function is simple and similar to an account book, recording all transaction data. This account book: 1. It is stored on each bitcoin node of the Internet, and each node has a complete backup; 2. It records all bitcoin transfer transactions since the birth of bitcoin; 3. The ledger is stored in blocks, and each block contains some transaction records. Each block will record the ID of the previous block, forming a chain structure, which is called blockchain; 4. When you want to initiate a bitcoin transaction, just broadcast the transaction information to the P2P network, record your transaction information as a new block and connect it to the blockchain, and the transaction is completed
blockchain has stimulated the revolution in other places
of course, blockchain has promoted the development of e-commerce in the financial instry. But digital information packets are discrete assets like money, and blockchain can create digital records of their existence and transmission. The technology is essentially a unified ledger of records or digital events. The ledger is distributed in the network and shared by different parties, and can only be updated by the majority of these parties. Once a ledger item is created, it can never be erased
blockchain is the missing link in the revolution, because the e-commerce it inspires will define the trust between machines and stakeholders. For example, Volkswagen's recent emissions scandal. VW's tests show that its vehicles emit too much NOx, so it chooses to hide the problem to avoid subsequent inspection
although blockchain will not prevent machines or people from tampering with data, it will create transparent, shared and indelible documents about the original emission data. If this data has been created and shared through the blockchain system, Volkswagen will never embark on the road of fraud, because the difference between the two data sets is obvious
the benefits of iiot are obvious. We have developed machine to machine communication technology; Now, it's the standardization challenge between society and the next revolution. This has driven the development of database technology in the past 30 years, and we have finally seen the momentum of construction
the first mock exam is different from the other enterprises, but if we all want to benefit from the high efficiency brought by the fourth instrial revolution, we must adopt the single mode of machine to machine electronic commerce. And because the communication network has to operate commercially between voluntary participants, we have to integrate the blockchain into this system. In the need to constantly modify the data, and free information trade needs detailed environmental conditions, blockchain is the best path to a new instrial revolution.
At the G20 meeting, different countries held different views on digital currency, some strongly resisted it, and some actively supervised it. Now let's take a look at the attitudes of the G20 countries towards digital currency
In a statement, the Canadian Securities Regulatory Agency (CSA) said that considering the whole process of ICO issuance, many ICO tokens meet the definition of securities and require them to comply with the securities law. In addition, the CSA noted that ICOS may also be derivatives, subject to derivatives laws passed by Canadian securities regulators, including trade reporting rules. Regulators said they welcome companies that are about to conct ICO to enter the "regulatory sandbox" to test new financial procts in a limited environmentIndia
the securities and Exchange Commission of India is planning guidelines for the regulation of the bitcoin market in India. In addition, the securities and Exchange Commission of India set up a financial regulatory commission and held meetings with Reserve Bank of India (RBI) officials. The SEC also plans to regulate whether bitcoin derivatives and other cryptocurrencies are used to raise funds illegally
Since last weekend, BTC has soared all the way from 6400 on Friday to 7500. Today, it has exceeded 8000 US dollars. This surge caught the masses off guard and made investors ecstatic
2019 can be described as a "prosperous" year for bitcoin. It is strong enough to get rid of the downward trend in 2018 and usher in a recovery. It has broken through 6000 points, 6400 points, 6800 points and other barriers one after another, and even reached $8000, making the coin circle return to its long lost heat
BTC is also in the focus of social media. Let's explore the reasons behind the boom:
the rise of bitcoin is not so much a sudden "earthquake" as a long-term "storm"
first of all, bitcoin immediately ushers in the practice of recing proction once every four years, which will inevitably lead to an increase in the price of bitcoin. Second, fidelity, the world's largest asset management company, joined the ranks of bitcoin investors in May. Compared with traditional investments such as gold and oil, bitcoin has achieved an average return of 457% in the past two years, making traditional financial giants ready to move
in January this year, the US Congress discussed two bills on virtual currency, and bitcoin futures ETF returned to the public view. However, the market failure of usdt currency makes a large number of users of usdt into the embrace of BTC
of course, President trump of the United States is the only culprit. Since then, trump has decided to raise China's export tariff from 10% to 25%. China's export instry is facing a disaster. The domestic stock market has plummeted, and hot money has flowed into the cryptocurrency market from the stock market, which has contributed to the surge of the comparative currency< Bitoffer revealed that bitcoin may return to its peak
according to the COO of bitoffer of Singapore sto exchange, the price of bitcoin has returned to last April's level, and it is predicted that it will exceed US $100000 this year<
45% of the respondents believe that when BTC reaches $10000, there will be fomo effect
Tom Lee, co-founder of fundstrat, launched a questionnaire on twitter about "what price BTC will have fomo effect". Up to now, the survey data shows that 32% of the people think that when the BTC exceeds $20000 (a new high), the BTC will be the highest; 45% thought that when the BTC reached $10000; 23% think it's now
bitoffer is a cryptocurrency exchange from Singapore STO, which provides secure and reliable bitcoin trading and asset management services for millions of users in more than 100 countries< br />
On March 13, the price of bitcoin once exceeded $60000 per unit, a record high< bitcoin's new record is mainly e to four reasons: first, the US $1.9 trillion fiscal stimulus plan has been approved, which makes the market expect that the US Federal Reserve and the US Treasury will further release us dollar liquidity, greatly easing the financial market investors' worries about the tightening of the US Federal Reserve's monetary policy, As a result, under the condition that inflation pressure is rising e to the continued overflow of US dollar liquidity, the investment institutions that left the market will return to bitcoin again
Second, it was rumored in the market that French congressmen signed a petition to urge the French central bank to buy bitcoin, which stimulated the market's buying enthusiasm
Thirdly, MicroStrategy and other institutions continue to purchase bitcoin, which makes the financial market feel that the attention and recognition of large companies to bitcoin are still increasing Fourthly, the profit making effect of bitcoin rebound is driving new investors to rush into this market
extended data
be alert to market risk
a number of encrypted digital asset exchanges believe that although the price of bitcoin continues to rise, investors need to pay close attention to the high volatility risk of bitcoin price. Over the past month, bitcoin has repeatedly appeared at record highs, and suddenly showed a sharp correction trend, which made many highly leveraged pursuers fall into the risk of burst positions. In addition, investors also need to pay close attention to the possible price manipulation risk of bitcoin. Because bitcoin liquidity is not high enough, any big bitcoin investors suddenly sell their positions to make profits and leave the market, which will trigger a sharp decline of bitcoin in a short period of time
Wang Jinlong, founder and CEO of Haitou, told reporters that the price of bitcoin is quite volatile at present, and there are a lot of high leverage investors' accounts exploding every day. Therefore, on the whole, we still need to be cautious to catch up with bitcoin. In addition, investors should pay close attention to the trend of global central banks. As more and more central banks plan to issue their own digital currencies, will they bring about a huge "crowding out effect" compared with the application scenarios and demand of bitcoin, which may trigger a new round of valuation adjustment of bitcoin
The SEC is the U.S. Securities and Exchange Commission_ image_ Cap >
starting from Thursday, September 5, stocks will be quoted on OTC link ATS, an alternative trading system directly regulated by the U.S. Securities and Exchange Commission
sec exemption
the US Securities and Exchange Commission (SEC) is not as pedantic and rigid as people think. In fact, they also provide some exemption "benefits", allowing companies to launch bitcoin investment procts without registration. And before the SEC formally approves the bitcoin Exchange Traded Fund (BTC ETF), these companies usually use the "detour" of exemption to release temporary procts
According to the regulations of notice 2014-21 of the IRS:
1. The information range of virtual currency payment is consistent with that of other property payment
2. Virtual currency paid to service providers and independent contractors should be taxed, and the tax rules of freelance also apply to virtual currency. Taxpayers usually have to get form 1099-MISC
3. When using virtual currency to pay wages to employees, they must also pay taxes, and they also need to pay federal income tax and payroll tax
4. The third party accepting virtual currency settlement payment on behalf of the merchant must report the payment status in form1099-k, payment card and the third party network dealer
5. Based on the fact that the virtual currency in the hands of taxpayers is a kind of capital asset, the gains or losses in the transaction of virtual currency and the sales of virtual currency need to be taxed
extended information:
legal status of bitcoin in China
in China, the regulations on the administration of RMB prohibit the proction and sale of token tickets. Because there is no clear judicial interpretation of the definition of token ticket, if bitcoin is included in the "token ticket", the legal prospect of bitcoin in China will face uncertainty
the notice of the Ministry of culture and the Ministry of Commerce on strengthening the management of virtual currency of online games (Wen Shi Fa [2009] No. 20) on June 4, 2009 stated that the application scope of virtual currency of online games was defined for the first time, and the distinction between the current virtual currency of online games and the virtual props in the game was made; At the same time, the notice said that the "notice" stipulates that enterprises engaged in related services must be approved before they can operate< br />
2. The concept of TT coin should be based on the concept of "bitcoin". The concept of bitcoin was first proposed by Nakamoto in 2009. According to Nakamoto's idea, open source software was designed and released, and P2P network was built on it. Bitcoin is a kind of P2P digital currency. Point to point transmission means a decentralized payment system
3; ISO 4217 Code: USD; Symbol: $) is the official currency of the United States of America. The US dollar banknotes in circulation at present are all kinds of banknotes issued since 1929. It came into being after the passing of the US coinage act in 1792. The current issue of dollars is controlled by the Federal Reserve. Since 1913, the United States has established the Federal Reserve System and issued Federal Reserve bonds. More than 99% of the banknotes in circulation are Federal Reserve notes. The competent department for the issuance of US dollars is the Congress, and the specific issuance business is handled by the Federal Reserve Bank. After World War II, the United States forced the major European powers to agree that the international monetary settlement must use the US dollar, so the US dollar as a reserve currency is widely used in countries other than the United States.