BTC investment is cheated
bitcoin features: no freezing, no tracking, no tax, and extremely low transaction cost. Compared with people who speculate in currency, it is wealth, and people outside the currency circle may think it is a fraud
at present, the mainstream digital currencies include bitcoin, Ethereum, bitcash, EOS, Ruibo, etc., which can be properly invested, and the transactions are risky, so we should invest cautiously.
as you can understand it, it's like the stock of these technology service providers. As these technologies become more and more widely used, these virtual coins will become more and more valuable
bitcoin, which appeared in 2009, is the first kind of virtual currency in the world. It is also the first time that it has applied the blockchain technology which is popular all over the world
after bitcoin, there are many imitators in the market. They either improved on the basis of bitcoin, or put forward more grand technical ideas than bitcoin. Virtual currency, which is common in other markets and considered as "regular army" by instry insiders, is collectively referred to as competitive currency. Together with bitcoin, it forms the whole digital currency market, with a total market value of nearly 100 billion US dollars
there are thousands of virtual currencies in the market, most of which are risky; In addition, there are many MLM coins that are simply for the purpose of deceiving people< In order to help you avoid being cheated, the following is a brief introction to the main "regular army":
1. Bitcoin (BTC)
bitcoin is the first virtual currency in the world, with a total of 21 million. At present, more than 16 million bitcoins have been "g up", with a total market value of about US $45 billion, equivalent to half of the total market value of all virtual coins. It is well deserved to be the number one in the coin circle
bitcoin has been accepted as payment currency by hundreds of thousands of businesses around the world; In addition, bitcoin has also become a common money raising currency in various blockchain technology startups. Therefore, with the increasing demand for bitcoin, the value of bitcoin is likely to grow in the long run
2. Eth is regarded as "bitcoin version 2.0" and is the most likely competitor to surpass the market value of bitcoin. Some time ago, the market value of bitcoin was close to that of bitcoin. However, e to the price rection in the recent month, the market value of bitcoin is only about half of that of bitcoin
Ethernet coin was born in the summer of 2014. It is issued on the Ethereum blockchain, which is different from bitcoin. Ethereum blockchain is a decentralized application platform, which solves the problems of bitcoin's technical limitation in currency application and insufficient function expansion, so it has great technical advantages
3. Bitcash (BCH)
BCH inherits a small part of bitcoin's legacy, the name of bitcoin's cash is also good, and the image logo also inherits a part of bitcoin. The ecology of BCH is also good
BCH pursues to be a world currency and an underlying platform for chain application. BCH is actively deploying the main chain expansion and developing the two-tier network to realize the ideal
the whole ecology should be made efforts from two aspects. The first direction is the expansion of the main chain, payment experience and function improvement. Capacity expansion is the guarantee to keep the certainty of monetary transaction fees very low. Improving the payment experience, including popularizing zero confirmation, pre consensus, and possibly shortening block time, are all evolving towards a better payment experience. The main chain function is perfect, including Op_ Return expansion, token issuance, new opcode addition
with the expansion of BCH main chain function, BCH based applications can be developed. The most famous are the decentralized microblog like memo, the paid download seed application like joystream, and the decentralized encrypted communication like Keyport
the second direction is to develop layer-2 network. Build a new blockchain based on BCH network, such as wormhole and kenoken, which are similar to Ethereum network based on BCH. BCH undertakes more complex block chain functions, such as notification contract, through two-layer network. The competition direction of BCH layer 2 network is to compete with the side chain of BTC
4. Lightning bitcoin (LBTC)
bitcoin has been developing for 10 years. In this decade, bitcoin has experienced three important splits, and now it has become four kinds of currencies. The first is BTC, which has inherited most of bitcoin's heritage; The second is BCH; The third is BSV and the fourth is LBTC
LBTC was born to break the power monopoly of big miner and bitcoin core bitcoin, introce more new features and functions for bitcoin, and greatly improve its performance. Lightning bitcoin (LBTC) is a peer-to-peer e-cash system, which is an innovative experiment based on bitcoin. It uses the dpos consensus mechanism based on utxo to separate the voting right and accounting right, so that the token will not be kidnapped by any party. It is a global value Internet transmission protocol with high speed, low handling charge and high scalability. Due to the adoption of dpos consensus mechanism, users can participate without professional mining machines, achieving real decentralization
the above four are the most mainstream bifurcated versions of bitcoin protocol. They are also investment procts that can realize your desire of soaring wealth. Senior managers can play with them, but the premise is that you need to be prepared for huge losses - because they are very volatile
for Xiao, I would like to say: Although virtual currency is a secret weapon for ordinary people to counter attack the sudden wealth, it's very difficult for you to make a lot of money from it
in addition, at present, the price of virtual bitcoin is at a high level, and it can not be ruled out that it will mainly be sideways in 2019. At this time, I think it is a good choice to some other mainstream bifurcation currencies, such as BCH, BSV and LBTC.
No, but it seems that it is difficult to explain in a few simple sentences. Let's study this ark article together
to expose the common myth of bitcoin
bitcoin has been established for more than 11 years and is striving to be widely recognized by institutions. Although constructive criticism is healthy, ark believes that some influential financial research institutions are refuting bitcoin based on outdated information, inconsistent arguments and flawed analysis
in view of Goldman Sachs' recent position on bitcoin, ark is reconsidering the most common misunderstanding, which has affected its acceptance. We look forward to participating in the health and ecational debate on bitcoin, as well as the important role we believe bitcoin should play in a diversified portfolio
According to ark, some influential financial research institutions are refuting bitcoin based on outdated information, inconsistent arguments and flawed analysis statement: bitcoin is too volatile to serve as a store of value. Counterclaim
: the volatility of bitcoin highlights the credibility of its monetary policy
critics often point out that the volatility of bitcoin is the "value store transaction breaker". Why would anyone want to store the price of an asset in such drastic fluctuations in daily prices
we believe that these critics do not understand why bitcoin fluctuates and why its volatility may decrease
although the fluctuation of bitcoin distracts opponents from evaluating its role as a value storage tool, it actually highlights the credibility of its monetary policy. The impossible trinity is the dilemma of macroeconomic policy. As shown in the figure below, the dilemma assumes that when setting monetary targets, the decision-maker can satisfy two of the three goals instead of three, because the third goal is opposite to one of the first two goals
source: Fangzhou Investment Management Co., Ltd. in 2020, each side of the three difficulties triangle is mutually exclusive. For example, monetary authorities that choose a fixed exchange rate and allow free capital flow cannot control the growth of money supply. Similarly, the monetary authorities that choose fixed exchange rate and control currency can not accommodate the free flow of capital, and the monetary authorities that choose to accommodate the free flow of capital and control money supply can not determine the exchange rate
based on the three dilemmas, we can understand why volatility is the natural result of bitcoin monetary policy. Contrary to the modern central bank, it does not give priority to exchange rate stability. On the contrary, based on the quantitative rules of money, bitcoin limits the growth of money supply, allows the free flow of capital, and abandons the stable exchange rate. As a result, the price of bitcoin is a function of demand relative to its supply. Its volatility is not surprising
that is to say, over time, the volatility of bitcoin is decreasing, as shown below. With the increase of adoption rate, the marginal demand of bitcoin should account for a small proportion of its total network value, so as to rece the price fluctuation. If all other conditions are equal, for example, a new demand of $1 billion with a market value of $10 billion or a network value, the impact of the price of the bitcoin should be greater than a new demand of $1 billion with a network value of $100 billion. Importantly, we believe that volatility should not rule out the main reason why bitcoin is used as a store of value, mainly because it usually occurs at the same time as a sharp rise in price
source: Fangzhou Investment Management Co., Ltd., 2020. Source: coinmetrics
for a long time, the purchasing power of bitcoin has been greatly improved. For example, since 2011, the price of bitcoin has grown at a compound rate of about 200% per year. Although significant changes have taken place in the year, since 2014, the price of bitcoin has appreciated year by year at its lowest price. It's been a good year
source: Fangzhou Investment Management Co., Ltd., 2020. Source: Coinmetrics
claims: bitcoin bubble. Counterclaim
: bitcoin is a competitor for the role of global currency
, some economists like Nouriel Roubini (Nouriel Roubini) believe that bitcoin will suddenly disappear when it is in the bubble. The line of reasoning is that bitcoin has no intrinsic value, and its appreciation depends on speculation, such as a hot potato or tulip game, and the willingness of the "bigger fool" to pay a higher price. They believe that bitcoin is not an investable asset
we believe that this statement eliminates the reason why bitcoin has accumulated value over time. Yes, bitcoin doesn't behave like a traditional investable asset[ 1] The value of equity is determined by discounting the expected cash flow. Given the high future cash flow based on growth and / or investment capital gains, the stock appreciates independently of the shareholder base
However, monetary assets such as bitcoin are unproctive, and their appreciation depends on how they effectively maintain or increase their value over time. In a sense, the value proposition is cyclical: monetary assets will appreciate with the demand of more people, and if it is an effective monetary asset, more people will evaluate it. In other words, "money is a common illusion" and "money is valuable because others think it is valuable" The claim that the value of money depends entirely on the common illusion, however, indicates that the form of money is arbitrary. In fact, according to monetary history, the most common and sustainable currencies have the quality of maintaining their demand. For example, for thousands of years, because of its scarcity, substitutability and rability, economists have regarded gold as the most successful form of moneywe think that bitcoin is usually called digital gold, which not only has many characteristics of gold, but also can improve them. Although bitcoin is rare and rable, it also has the characteristics of divisibility, verifiability, portability and transferability. A series of monetary features of bitcoin endow it with outstanding utility, which is likely to promote demand, and believes that bitcoin is suitable for the role of global digital currency even if it is not superior
we believe that as a suitable competitor for the first batch of global digital currencies, bitcoin should at least attract demand similar to gold. However, contrary to the claim that it is in a huge bubble, the net value (or market value) of bitcoin is less than 2% of gold. p>
prediction is limited in nature, so it cannot be relied on
source: Fangzhou Investment Management Co., Ltd., 2020. Source: coinmetrics
statement: bitcoin will lose the value of fork and digital . Counterclaim
: the value of bitcoin cannot be copied only by software
in the digital field, goods are invisible and can be easily copied without destroying the original goods. Indivials can send word documents extensively by e-mail, for example, while retaining the original . Similarly, thousands of people can listen to a song simultaneously and repeatedly, which actually improves the value of the original work, especially when other songwriters imitate its unique voice
Bitcoin software is no exception. It's free and open source. Indivials can software, "create network branches" and create their own versions. However, skeptics still question how scarce bitcoin will be if it is based on open source software that can be copied indefinitelyfirst, the bifurcated bitcoin network will not create new bitcoin units, just as the expansion of Venezuela's Bolivar will not add dollars to the US monetary base. Instead, bifurcated bitcoin creates a new network with new units or coins. Although existing bitcoin holders have the right to use new coins, the forked network operates under a set of independent rules supported by a single stakeholder. Open source software does not dilute the money supply of the original network. It not only encourages cheap experiments and new networks, but also encourages new tokens and competitive markets
the scarcity of bitcoin is crucial to its network. Today, the number of bitcoins has reached 18 million, which is measured mathematically to 21 million, as shown below. Each bitcoin is linked to a wallet at a time and cannot be copied. Importantly, the only way to control user bitcoin is to have access to its associated private key
source: Fangzhou Investment Management Co., Ltd., 2020. Source: coinmetrics
so, when it forks, what makes 21 million units in bitcoin network more valuable than 21 million units in bitcoin cash (BCH) or BTC? To equate the value of bitcoin cash with the value of bitcoin is equivalent to assuming that Facebook's source code can "fork" and automatically the value of its 2.6 billion users and 50000 employees. Their value comes from the network effects of bitcoin and Facebook, not just their existence
as far as bitcoin is concerned, we believe that network effects include not only the efforts to protect the hash rate of the blockchain, but also the liquidity of bitcoin and the infrastructure supporting its adoption and use. If it is dilutive, then bifurcations will have to share bitcoin's computing power, users and liquidity. As shown below, bitcoin cash and other bifurcations do not seem to derail bitcoin's network effects
source: Fangzhou Investment Management Co., Ltd., 2020. Source: coinmetrics
claims that bitcoin is for criminals
counterclaim: bitcoin is anti censorship
critics still accuse bitcoin of allowing criminal activities because of its early evil activities. In its early years, bitcoin financed the Silk Road, an online black market platform known for selling illegal drugs
In our opinion, criticizing bitcoin for promoting criminal activities is one of its basic value propositions: censorship. As a neutral technology, bitcoin allows anyone to trade and cannot identify "criminals". It does not rely on centralized permissions to identify participants by name or IP address, but by encrypted digital key and address to distinguish participants, thus giving bitcoin powerful censorship ability. Anyone can trade anytime, anywhere as long as the participants pay the miners. Once secured, the transaction cannot be easily reversedif criminal activities can be censored on the bitcoin network, then all activities can be censored. On the contrary, bitcoin allows anyone to exchange value globally and without permission. This is not to make it an inherent tool of crime. Phones, cars and the Internet are no less powerful than bitcoin in promoting crime
In other words, it seems that only a small part of bitcoin transactions are for illegal purposes. According to chainalysis, the number of bitcoin transactions related to illegal activities is still less than 1%, which may be a contribution to the transparency of bitcoin. Any user can view the complete history of transactions on the Internet, which shows that physical cash is a better means of illegal activitiesWhat's not BTC and eth? Or domestic special procts
now most of the coins on the market and ICO belong to set money. There's no regulation. There's a lot of leeks
there are also some real money. Now I'm in. I can't see it in the short term. The long-term rate of return is amazing
it is suggested to study more about the relevant information, team, background, problems solved, project financing, project valuation and future planning of the investment currency
otherwise, it can only be used as leek all the time.
Why do so many people want to invest in bitcoin
it's very simple. Most people invest in bitcoin with & lt; Making money & quot; It's the purpose. I hope I can be in this coin circle; Get rich overnight;, In fact, the coin circle has made a lot of achievements, but more people are miserable. After all, the market is cruel. Generally speaking, 10% of people make money and 90% lose money in any investment. This is the iron law of the market. High returns are accompanied by high risks
people who invest in BTC can be roughly divided into two categories:
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the above is the relevant content of whether investing in bitcoin is reliable in financial management. , most countries have not officially stated whether bitcoin is reliable or not. As an investment proct, investors still need to weigh it. However, there is a big risk in investing in bitcoin. I hope you can do it with your energy