Bitcoin management
Publish: 2021-03-26 17:46:20
1. In order to protect the property rights and interests of the public, protect the legal tender status of RMB, prevent the risk of money laundering, and maintain financial stability, the people's Bank of China, the Ministry of instry and information technology, China Banking Regulatory Commission, China Securities Regulatory Commission, and the Recently, China Insurance Regulatory Commission jointly issued the notice of the Ministry of instry and information technology of the people's Bank of China, China Banking Regulatory Commission, China Securities Regulatory Commission and China Insurance Regulatory Commission on the prevention of bitcoin risk (YF [2013] No. 289, hereinafter referred to as the "notice")
the notice defines the nature of bitcoin, and holds that bitcoin is not issued by the monetary authority, has no monetary attributes such as legal compensation and compulsion, and is not a real currency. In terms of nature, bitcoin is a specific virtual commodity, which does not have the same legal status as currency and cannot and should not be used as currency in the market. However, bitcoin trading as a commodity trading behavior on the Internet, ordinary people have the freedom to participate at their own risk
the notice requires that at this stage, all financial institutions and Payment institutions shall not price procts or services with bitcoin, buy or sell bitcoin as a central counterparties, underwrite insurance business related to bitcoin or include bitcoin into the scope of insurance liability, and provide other bitcoin related services to customers directly or indirectly, Including: providing bitcoin registration, trading, clearing, settlement and other services for customers; Accept bitcoin or use bitcoin as a payment and settlement tool; Carry out bitcoin and RMB and foreign currency exchange services; Carry out bitcoin storage, custody, mortgage and other services; Issuing financial procts related to bitcoin; Take bitcoin as the investment target of trust, fund, etc
according to the notice, the bitcoin Internet website, as the main trading platform of bitcoin, shall be filed with the telecommunications administration according to the provisions of the Telecommunications Regulations of the people's Republic of China and the measures for the administration of Internet information services. At the same time, in view of bitcoin's high risk of money laundering and being used by criminals, the notice requires relevant institutions to perform the legal anti money laundering obligations such as customer identification and suspicious transaction report in accordance with the anti money laundering law of the people's Republic of China, so as to effectively prevent the money laundering risks related to bitcoin
in order to avoid excessive speculation of virtual commodities such as bitcoin in the name of "virtual currency" and damage the public interest and the legal tender status of RMB, the circular requires financial institutions and Payment institutions to correctly use the concept of currency in their daily work, pay attention to strengthening the ecation of the public's knowledge of currency, and correctly understand the concept of currency The concept of correctly treating virtual commodity and virtual currency, rational investment, reasonable control of investment risk, and maintenance of their own property security should be included in the content of financial knowledge popularization activities, so as to guide the public to establish a correct concept of currency and investment
in the future, the people's Bank of China will continue to pay close attention to the trend and related risks of bitcoin based on its own responsibilities End)
bitcoin home has an interpretation.
the notice defines the nature of bitcoin, and holds that bitcoin is not issued by the monetary authority, has no monetary attributes such as legal compensation and compulsion, and is not a real currency. In terms of nature, bitcoin is a specific virtual commodity, which does not have the same legal status as currency and cannot and should not be used as currency in the market. However, bitcoin trading as a commodity trading behavior on the Internet, ordinary people have the freedom to participate at their own risk
the notice requires that at this stage, all financial institutions and Payment institutions shall not price procts or services with bitcoin, buy or sell bitcoin as a central counterparties, underwrite insurance business related to bitcoin or include bitcoin into the scope of insurance liability, and provide other bitcoin related services to customers directly or indirectly, Including: providing bitcoin registration, trading, clearing, settlement and other services for customers; Accept bitcoin or use bitcoin as a payment and settlement tool; Carry out bitcoin and RMB and foreign currency exchange services; Carry out bitcoin storage, custody, mortgage and other services; Issuing financial procts related to bitcoin; Take bitcoin as the investment target of trust, fund, etc
according to the notice, the bitcoin Internet website, as the main trading platform of bitcoin, shall be filed with the telecommunications administration according to the provisions of the Telecommunications Regulations of the people's Republic of China and the measures for the administration of Internet information services. At the same time, in view of bitcoin's high risk of money laundering and being used by criminals, the notice requires relevant institutions to perform the legal anti money laundering obligations such as customer identification and suspicious transaction report in accordance with the anti money laundering law of the people's Republic of China, so as to effectively prevent the money laundering risks related to bitcoin
in order to avoid excessive speculation of virtual commodities such as bitcoin in the name of "virtual currency" and damage the public interest and the legal tender status of RMB, the circular requires financial institutions and Payment institutions to correctly use the concept of currency in their daily work, pay attention to strengthening the ecation of the public's knowledge of currency, and correctly understand the concept of currency The concept of correctly treating virtual commodity and virtual currency, rational investment, reasonable control of investment risk, and maintenance of their own property security should be included in the content of financial knowledge popularization activities, so as to guide the public to establish a correct concept of currency and investment
in the future, the people's Bank of China will continue to pay close attention to the trend and related risks of bitcoin based on its own responsibilities End)
bitcoin home has an interpretation.
2. First, bitcoin is not issued by the monetary authority. It does not have the monetary attributes of legal compensation and compulsion. It is not a real currency. Here, we have to compare the properties of bitcoin and currency. Take bitcoin as an example, it belongs to a virtual asset of the network, and there is no specific issuing institution, while bitcoin is calculated by network nodes. In contrast, money is a commodity separated from commodities and fixed as a general equivalent. As a result, bitcoin cannot replace traditional currency. Today, management has made it clear that bitcoin is not a real currency, that is, it denies the currency status of bitcoin. Second, bitcoin websites should earnestly fulfill the legal anti money laundering obligations such as customer identification and suspicious transaction reporting, and effectively prevent the money laundering risks related to bitcoin. As a virtual asset of network, bitcoin has an unpredictable regulatory risk. Due to the anonymity and decentralization of the ownership and circulation of bitcoin, it is difficult to guess the regulatory risk of bitcoin. With the significant improvement of bitcoin's global influence, it has graally become a place for some criminals to commit money laundering and other violations. Undeniably, this also provides an effective way to deal with the regulatory loopholes of bitcoin. Third, all financial institutions and Payment institutions are not allowed to carry out business related to bitcoin, price procts or services with bitcoin, buy or sell bitcoin or act as central counterparties. In essence, the management prevents a series of unpredictable problems by blocking the bitcoin related business of financial institutions. Of course, this move is to a greater extent considered from the perspective of national strategy.
3. The definition of bitcoin in Chinese law:
according to the regulations on the administration of RMB, the proction and sale of token tickets are prohibited. 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< On June 4, 2009, the notice of the Ministry of culture and the Ministry of Commerce on strengthening the management of virtual currency in online games (Wen Shi Fa [2009] No. 20) stated that the scope of application of virtual currency in online games was defined for the first time, and a distinction was made between the current virtual currency in online games and the virtual props in games; At the same time, the notice said that the "notice" stipulates that enterprises engaged in related services must be approved before they can operate
in China, some Taobao stores have begun to accept the use of bitcoin, and the number of businesses will graally increase
in October 2013, the first bitcoin quarterly, one bit, was released
on October 15, 2013, the network accelerator service of the network announced its support for bitcoin
on October 26, 2013, btcmini reported that GBL was hacked
on October 31, 2013, Lei Teng, a famous Internet lawyer, proposed the event of "filing a case to investigate the closure of GBL bitcoin trading platform as soon as possible", analyzed the "value function" and "use function" of bitcoin, and bitcoin should be governed by relevant laws.
according to the regulations on the administration of RMB, the proction and sale of token tickets are prohibited. 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< On June 4, 2009, the notice of the Ministry of culture and the Ministry of Commerce on strengthening the management of virtual currency in online games (Wen Shi Fa [2009] No. 20) stated that the scope of application of virtual currency in online games was defined for the first time, and a distinction was made between the current virtual currency in online games and the virtual props in games; At the same time, the notice said that the "notice" stipulates that enterprises engaged in related services must be approved before they can operate
in China, some Taobao stores have begun to accept the use of bitcoin, and the number of businesses will graally increase
in October 2013, the first bitcoin quarterly, one bit, was released
on October 15, 2013, the network accelerator service of the network announced its support for bitcoin
on October 26, 2013, btcmini reported that GBL was hacked
on October 31, 2013, Lei Teng, a famous Internet lawyer, proposed the event of "filing a case to investigate the closure of GBL bitcoin trading platform as soon as possible", analyzed the "value function" and "use function" of bitcoin, and bitcoin should be governed by relevant laws.
4. Bitcoin is not a company. Bitcoin is a consensus network that has led to a new payment system and a fully digital currency. It is the first decentralized peer-to-peer payment network, which is controlled by its users without a central management organization or middleman. From the user's point of view, bitcoin is much like Internet cash. Bitcoin can also be regarded as the most outstanding three style bookkeeping system
at present, bitcoin is still a small-scale large-scale socialization experiment, which is in the early stage of development, and the supporting infrastructure is not perfect. It is very difficult for some bitcoin start-ups to make profits at present. If there is no continuous large-scale capital entry, it is normal for them to go bankrupt. This is not the same company as the bank, but there are many enterprises that set up banks, and many banking enterprises will go bankrupt because of poor management. For example, the most typical example is Lehman Brothers bank. Bitcoin home network has a basic introction about bitcoin, you can learn about it.
at present, bitcoin is still a small-scale large-scale socialization experiment, which is in the early stage of development, and the supporting infrastructure is not perfect. It is very difficult for some bitcoin start-ups to make profits at present. If there is no continuous large-scale capital entry, it is normal for them to go bankrupt. This is not the same company as the bank, but there are many enterprises that set up banks, and many banking enterprises will go bankrupt because of poor management. For example, the most typical example is Lehman Brothers bank. Bitcoin home network has a basic introction about bitcoin, you can learn about it.
5. Bitcoin can be regulated
however, it has not been fully and effectively regulated at present (as of March 6, 2019)
if we understand bitcoin as a kind of "currency", then it is equivalent to US dollars leaving the United States. Usually, after the US dollar leaves the United States, banks in other countries will help manage it. However, it is impossible to count the scattered us dollars that are neither in the United States nor in the hands of banks and other financial institutions. For example, in some areas of Africa where there are no banks, the US dollar is used
these scattered us dollars are equivalent to bitcoin
how to regulate these scattered us dollars
generally, in addition to controlling the issuance of US dollars, US dollar regulation also controls the circulation and usage ports. The Federal Reserve controls the number of new currencies issued each year according to the flow and damage of dollars abroad. At the same time, we should supervise the inflow and outflow of US dollars, so as to keep us dollars in an environment that can be roughly traced, so as to facilitate the issuers to count the total amount, so as to avoid excessive inflation or deflation
in fact, these scattered us dollars exist in some deregulated environments. Although they are out of control, they will not affect the overall economic situation
If anyone wants to influence the international economy through these scattered us dollars, then it must enter the existing regulatory system. In this way, these scattered dollars are regulated
for bitcoin, we can also learn from these forms of regulation
first of all, from the point of view of the issuing end, although the total number of bitcoin is now 21 million, it is also "set before" and cannot be changed
recently, it has been mentioned that the 21 million bitcoin limit should be abolished, which means that the issue of bitcoin is not stable. Therefore, it is necessary to control the issuance of bitcoin from the development end
you need to get inside the development side and become a core developer
Second, monitoring from the circulation link. In fact, this is the most difficult monitoring at present, because the blockchain is anonymous, the user is anonymous, and the receiver is anonymous
even though we can trace the circulation path of bitcoin by technical means (for example, we can know that a transaction is sent from a small house in the United States to a commercial building in Germany), it is only a drop in the bucket for tens of millions of users in the whole environment. How to trace and manage the overall transaction data is a huge problem
you can't know from the transaction data whether the user is engaged in illegal transactions
what should we do? Regulators have come up with a way to bind personal identity information to the user's real name, your exchange account number and bitcoin wallet address. But this is also a temporary solution, because it can only monitor the use of bitcoin in specific situations. An indivial can use multiple bitcoin wallet addresses. You don't know when he will apply for a new one
in terms of circulation, there is also a monitoring system to control the exchange channel between bitcoin and local legal currency. Banks in some regions do not provide financial services for users who exchange bitcoin for legal currency, and some countries and regions prohibit financial institutions from providing bitcoin and local legal currency exchange services
if users secretly exchange huge amounts of bitcoin, some clues can be found through the bank transfer records, so as to crack down on illegal acts in time. As for those who make little trouble, let him go
thirdly, restrict the use. This is relatively easy to achieve. For example, relevant laws have been issued to prohibit the use of bitcoin transactions. Although it's impossible to ban it completely, it's better than letting it run wild All over the world, it seems that what is forbidden is not completely forbidden
for example, before using bitcoin in public, you must use your real name, and you have to pay taxes to hold or use bitcoin
of course, it's OK for users not to do so, so it's better to use its assets in the dark
having said so much, now you know that bitcoin can be regulated, but it's not so well managed. Many measures have been taken, and it seems that they are not effectively regulated. Under what circumstances can bitcoin be effectively regulated? Users consciously report their holdings of bitcoin to the regulatory authorities. The regulatory authorities add some development functions to the bitcoin to achieve supervision, or they don't need to use it, so it doesn't matter at all
in fact, it can't be controlled so strictly, as long as it can't be controlled in the range of big waves. After all, there is light and dark, and there may be no gray space at all
new technology will surely have an advantage when it comes to living now.
however, it has not been fully and effectively regulated at present (as of March 6, 2019)
if we understand bitcoin as a kind of "currency", then it is equivalent to US dollars leaving the United States. Usually, after the US dollar leaves the United States, banks in other countries will help manage it. However, it is impossible to count the scattered us dollars that are neither in the United States nor in the hands of banks and other financial institutions. For example, in some areas of Africa where there are no banks, the US dollar is used
these scattered us dollars are equivalent to bitcoin
how to regulate these scattered us dollars
generally, in addition to controlling the issuance of US dollars, US dollar regulation also controls the circulation and usage ports. The Federal Reserve controls the number of new currencies issued each year according to the flow and damage of dollars abroad. At the same time, we should supervise the inflow and outflow of US dollars, so as to keep us dollars in an environment that can be roughly traced, so as to facilitate the issuers to count the total amount, so as to avoid excessive inflation or deflation
in fact, these scattered us dollars exist in some deregulated environments. Although they are out of control, they will not affect the overall economic situation
If anyone wants to influence the international economy through these scattered us dollars, then it must enter the existing regulatory system. In this way, these scattered dollars are regulated
for bitcoin, we can also learn from these forms of regulation
first of all, from the point of view of the issuing end, although the total number of bitcoin is now 21 million, it is also "set before" and cannot be changed
recently, it has been mentioned that the 21 million bitcoin limit should be abolished, which means that the issue of bitcoin is not stable. Therefore, it is necessary to control the issuance of bitcoin from the development end
you need to get inside the development side and become a core developer
Second, monitoring from the circulation link. In fact, this is the most difficult monitoring at present, because the blockchain is anonymous, the user is anonymous, and the receiver is anonymous
even though we can trace the circulation path of bitcoin by technical means (for example, we can know that a transaction is sent from a small house in the United States to a commercial building in Germany), it is only a drop in the bucket for tens of millions of users in the whole environment. How to trace and manage the overall transaction data is a huge problem
you can't know from the transaction data whether the user is engaged in illegal transactions
what should we do? Regulators have come up with a way to bind personal identity information to the user's real name, your exchange account number and bitcoin wallet address. But this is also a temporary solution, because it can only monitor the use of bitcoin in specific situations. An indivial can use multiple bitcoin wallet addresses. You don't know when he will apply for a new one
in terms of circulation, there is also a monitoring system to control the exchange channel between bitcoin and local legal currency. Banks in some regions do not provide financial services for users who exchange bitcoin for legal currency, and some countries and regions prohibit financial institutions from providing bitcoin and local legal currency exchange services
if users secretly exchange huge amounts of bitcoin, some clues can be found through the bank transfer records, so as to crack down on illegal acts in time. As for those who make little trouble, let him go
thirdly, restrict the use. This is relatively easy to achieve. For example, relevant laws have been issued to prohibit the use of bitcoin transactions. Although it's impossible to ban it completely, it's better than letting it run wild All over the world, it seems that what is forbidden is not completely forbidden
for example, before using bitcoin in public, you must use your real name, and you have to pay taxes to hold or use bitcoin
of course, it's OK for users not to do so, so it's better to use its assets in the dark
having said so much, now you know that bitcoin can be regulated, but it's not so well managed. Many measures have been taken, and it seems that they are not effectively regulated. Under what circumstances can bitcoin be effectively regulated? Users consciously report their holdings of bitcoin to the regulatory authorities. The regulatory authorities add some development functions to the bitcoin to achieve supervision, or they don't need to use it, so it doesn't matter at all
in fact, it can't be controlled so strictly, as long as it can't be controlled in the range of big waves. After all, there is light and dark, and there may be no gray space at all
new technology will surely have an advantage when it comes to living now.
6. A wise man once said that once a man is born, he cannot escape taxes and death. However, when the concept of bitcoin was proposed, there was a glimmer of hope that most of us thought we might be able to evade taxes. Unfortunately, this was a flash in the pan, as the IRS decided to tax virtual currency holdings. Now, bitcoin is regarded as an official asset by various government agencies in the United States, so it has to pay taxes
How do we know what should and should not be taxed? Now, we have some experts who can help us understand, but if you are involved in cryptocurrency and live in the United States, it will be easier. Laura shin is such a kind and helpful person. She explains how to deal with digital currency and the IRS when it comes to taxation. Her article in Forbes clearly explains the different sources of bitcoin and digital currency. First, all digital monetary assets are regarded as capital assets like stocks and bonds. The IRS calls cryptocurrency an asset in its guidance 14-21
there is only one way to own digital currency or spend it, and that is to start mining. If you succeed in mining some bitcoin, any block reward you may get depends on the amount of bitcoin you get and the market value at that time. It's very important to have the right record, because the value of bitcoin is bound to fluctuate, and you never know how much bitcoin is worth when you pay taxes. The calculation of tax depends on whether it is a long-term or short-term capital gain
do you get a return in bitcoin? The good news is that if you try to save some, and the price of bitcoin goes up, your salary could double. The bad news is that you'll pay income tax on wages and VAT on assets that hold the subsequent gains in bitcoin. However, it is best to record the actual value of legal tender when payment for services is received
if your salary is paid in the form of bitcoin, you may want to spend some in the form of bitcoin itself (for others who own bitcoin by any means). The expenditure of any bitcoin is equivalent to the sale of assets, and the gain or loss will occupy the holding period. So in order to find out the holding period, people have to know which bitcoin they are selling and when they receive a special bitcoin, which is almost impossible unless you use a new wallet for every transaction. A better way is to have a set of predefined rules for all bitcoin revenues and expenditures. Laura suggests the implementation of LIFO or FIFO accounting methods
if you give or accept bitcoin as a tip or gift, it is best to publish or ask for information about the cost base and date of digital currency. If this could be done, it would be easier to calculate capital gains. Otherwise, in the absence of information, people can always explain it in terms of income and get out of trouble. If you are donating to a registered charity, the digital currency unit income from the donation can be written off from the account, which is not taxed. Laura suggests using digital currency donations to rece taxes
when trading bitcoin, it is wise to keep a record of the fair market value on the date of the transaction. If a trading platform or transaction issues a 1099-b report, this will help record the profit and loss. These suggestions will come in handy for those who are already working on bitcoin and want to know how to track the gains and losses of their digital currency.
How do we know what should and should not be taxed? Now, we have some experts who can help us understand, but if you are involved in cryptocurrency and live in the United States, it will be easier. Laura shin is such a kind and helpful person. She explains how to deal with digital currency and the IRS when it comes to taxation. Her article in Forbes clearly explains the different sources of bitcoin and digital currency. First, all digital monetary assets are regarded as capital assets like stocks and bonds. The IRS calls cryptocurrency an asset in its guidance 14-21
there is only one way to own digital currency or spend it, and that is to start mining. If you succeed in mining some bitcoin, any block reward you may get depends on the amount of bitcoin you get and the market value at that time. It's very important to have the right record, because the value of bitcoin is bound to fluctuate, and you never know how much bitcoin is worth when you pay taxes. The calculation of tax depends on whether it is a long-term or short-term capital gain
do you get a return in bitcoin? The good news is that if you try to save some, and the price of bitcoin goes up, your salary could double. The bad news is that you'll pay income tax on wages and VAT on assets that hold the subsequent gains in bitcoin. However, it is best to record the actual value of legal tender when payment for services is received
if your salary is paid in the form of bitcoin, you may want to spend some in the form of bitcoin itself (for others who own bitcoin by any means). The expenditure of any bitcoin is equivalent to the sale of assets, and the gain or loss will occupy the holding period. So in order to find out the holding period, people have to know which bitcoin they are selling and when they receive a special bitcoin, which is almost impossible unless you use a new wallet for every transaction. A better way is to have a set of predefined rules for all bitcoin revenues and expenditures. Laura suggests the implementation of LIFO or FIFO accounting methods
if you give or accept bitcoin as a tip or gift, it is best to publish or ask for information about the cost base and date of digital currency. If this could be done, it would be easier to calculate capital gains. Otherwise, in the absence of information, people can always explain it in terms of income and get out of trouble. If you are donating to a registered charity, the digital currency unit income from the donation can be written off from the account, which is not taxed. Laura suggests using digital currency donations to rece taxes
when trading bitcoin, it is wise to keep a record of the fair market value on the date of the transaction. If a trading platform or transaction issues a 1099-b report, this will help record the profit and loss. These suggestions will come in handy for those who are already working on bitcoin and want to know how to track the gains and losses of their digital currency.
7. Bitcoin is a consensus network, contributing to a new payment system and a fully digital currency. It is the first decentralized peer-to-peer payment network, which is controlled by its users without a central management organization or middleman. From the user's point of view, bitcoin is much like Internet cash. Bitcoin can also be regarded as the most outstanding three style bookkeeping system<
at the end of 2010, Nakamoto left the project and did not disclose much about his identity. Since then, many developers have devoted themselves to bitcoin projects, and the bitcoin community has grown rapidly
bitcoin's protocols and software are publicly released. Any developer around the world can view its code or develop their own modified version of bitcoin software. Just like current developers, Nakamoto's influence is limited to the changes he makes that are adopted by others. Therefore, Nakamoto does not control bitcoin. So, today, the question of the identity of the inventor of bitcoin may be the same as that of the inventor of paper< At present, the bitcoin foundation is mainly responsible for the development and maintenance of bitcoin projects
bitcoin is proced by mining. Mining is also a very professional work. At present, bitcoin mining needs professional ASIC miner, such as Avalon three generation single-mode miner.
at the end of 2010, Nakamoto left the project and did not disclose much about his identity. Since then, many developers have devoted themselves to bitcoin projects, and the bitcoin community has grown rapidly
bitcoin's protocols and software are publicly released. Any developer around the world can view its code or develop their own modified version of bitcoin software. Just like current developers, Nakamoto's influence is limited to the changes he makes that are adopted by others. Therefore, Nakamoto does not control bitcoin. So, today, the question of the identity of the inventor of bitcoin may be the same as that of the inventor of paper< At present, the bitcoin foundation is mainly responsible for the development and maintenance of bitcoin projects
bitcoin is proced by mining. Mining is also a very professional work. At present, bitcoin mining needs professional ASIC miner, such as Avalon three generation single-mode miner.
8. 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
unlike most currencies, bitcoin does not rely on specific currency institutions. It is generated by a large number of calculations based on specific algorithms. Bitcoin economy uses a distributed database composed of many nodes in the whole P2P network to confirm and record all transactions, and uses cryptography design to ensure the security of all aspects of currency circulation. The decentralized nature and algorithm of P2P can ensure that it is impossible to artificially manipulate the value of bitcoin through mass proction. The design based on cryptography can make bitcoin only be transferred or paid by the real owner. This also ensures the anonymity of money ownership and circulation transactions. The biggest difference between bitcoin and other virtual currencies is that the total amount of bitcoin is very limited and it has a strong scarcity. The monetary system used to have no more than 10.5 million in four years, after which the total number will be permanently limited to 21 million
bitcoin can be cashed and converted into the currency of most countries. Users can use bitcoin to buy some virtual items, such as clothes, hats and equipment in online games. As long as someone accepts it, they can also use bitcoin to buy real-life items< On February 26, 2014, Joe Manchin, a Democratic senator from West Virginia, issued an open letter to a number of regulatory authorities of the US federal government, hoping that relevant institutions would pay attention to the status quo of bitcoin's encouraging illegal activities and disrupting the financial order, and demanded that actions be taken as soon as possible to completely ban the electronic currency
from 12:00 noon on January 24, 2017, China's three major bitcoin platforms officially began to collect transaction fees
hope to adopt
unlike most currencies, bitcoin does not rely on specific currency institutions. It is generated by a large number of calculations based on specific algorithms. Bitcoin economy uses a distributed database composed of many nodes in the whole P2P network to confirm and record all transactions, and uses cryptography design to ensure the security of all aspects of currency circulation. The decentralized nature and algorithm of P2P can ensure that it is impossible to artificially manipulate the value of bitcoin through mass proction. The design based on cryptography can make bitcoin only be transferred or paid by the real owner. This also ensures the anonymity of money ownership and circulation transactions. The biggest difference between bitcoin and other virtual currencies is that the total amount of bitcoin is very limited and it has a strong scarcity. The monetary system used to have no more than 10.5 million in four years, after which the total number will be permanently limited to 21 million
bitcoin can be cashed and converted into the currency of most countries. Users can use bitcoin to buy some virtual items, such as clothes, hats and equipment in online games. As long as someone accepts it, they can also use bitcoin to buy real-life items< On February 26, 2014, Joe Manchin, a Democratic senator from West Virginia, issued an open letter to a number of regulatory authorities of the US federal government, hoping that relevant institutions would pay attention to the status quo of bitcoin's encouraging illegal activities and disrupting the financial order, and demanded that actions be taken as soon as possible to completely ban the electronic currency
from 12:00 noon on January 24, 2017, China's three major bitcoin platforms officially began to collect transaction fees
hope to adopt
9. It depends on how you choose. Now the bitcoin trading platform is very chaotic. Many black stations and personal stations are constantly appearing, and the purpose is to attract money. Therefore, if you want to play bitcoin, you should polish your eyes and choose the enterprise website with good qualification, full certification and guaranteed security. Here to recommend a bitbao trading platform, you can understand.
Hot content