BTE blockchain on China's official website
Whether in the past or in the future, we have always advocated that indivial interests should be in line with collective interests. When facing social and economic interests, we should first consider social value. When dealing with virtual currency shuttling through financial transactions, how should we choose its social and economic value
there are thousands of virtual currencies in circulation in the market, and not every currency will follow the principle of social value first. From December 17 to January 18, many virtual currencies scrambled the trading market by virtue of ICO chaos, which not only made many investors lose money, but also lost the hope of increasing the value of virtual currency, This kind of virtual currency not only has no social value, but also can never realize its own economic value
As the first virtual currency to appear in the public's eyes, bitcoin is a financial proct with both social and economic values. It not only grows graally in the process of development, from less than $1 to $10000 + today, but also drives the development of the whole instry. Bitcoin is the leader and protector of the emerging instry, Its contribution is multifaceted and its advantages are incomparable As a new emerging virtual currency, mycoin may not seem warm now, but the soup made by slow fire is often different. I hope mycoin will move closer and closer to bitcoin and compete with it in the near futureBitcoin is a scam
because bitcoin is a kind of virtual currency, most of which are unregulated and bypass the traditional banking system. Its sharp rise worries regulators around the world. Jamie Dimon, JPMorgan's president, described bitcoin as & quot; A scam & quot;. Because compared with bitcoin, it's not real, it's going to end in the end
virtual currency similar to bitcoin is based on blockchain technology. It is a kind of accounting technology using anonymous computer network operation. No government or central bank has endorsed bitcoin. Therefore, no one can support the value of bitcoin
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pyramid selling is to absorb and allocate funds by developing the relationship between the upper and lower line. In the bitcoin investment market, the elderly and new people do not have the time advantage, nor do they rely on high profits to pull down the line. In the face of market fluctuations, no one can guarantee that they will make money, and the elderly can not force them to get income from pulling new people
bitcoin or other digital currency does not belong to any person or organization. It is an uncontrolled and decentralized program. The code is fully developed, and the total amount cannot be modified or destroyed
1. Currency digitization and digital currency are not the same thing, so don't confuse them
2. There may be legal digital currency in China in the future, but it must be issued by the Central Bank of China
3. Bitcoin is not a currency. Currency is a credit symbol issued by the Central Bank of a sovereign country. Bitcoin is a speculative target, which is not recognized by major countries in the world.
bitcoin is a real currency rather than a quasi currency. Now there is a saying that bitcoin is not a currency, but a quasi currency quasi currency is a kind of asset valued by currency, which can not be directly used for circulation but can be converted into currency at any time. It is mainly composed of bank time deposits, savings deposits and various short-term credit circulation tools. Obviously, bitcoin does not meet the above definition at present, the reason why bitcoin can not be used for shopping in our country is the result of the prohibition of administrative order, which is not caused by its own nature. If we do not consider the restrictions of administrative order, bitcoin can naturally be used for circulation, so bitcoin is real currency rather than quasi currency
take China as an example, because bitcoin transaction is risky and there is no legal basis for its establishment, it should be purchased cautiously
On the evening of September 13, 2017, the China Internet Finance Association issued a reminder on preventing the risks of bitcoin and other so-called "virtual currencies", pointing out that bitcoin and other so-called "virtual currencies" are increasingly becoming tools for money laundering, drug trafficking, smuggling, illegal fund-raising and other illegal and criminal activities. Investors should be vigilant and report to the police immediately when they find clues of illegal and criminal activities
and stressed that there is no legal basis for the establishment of various so-called "currency" trading platforms in China. Unlike most currencies, bitcoin does not rely on specific monetary institutions to issue, and is an "electronic currency" relying on algorithms. In China, the longest running bitcoin trading platform was founded in China on June 9, 2011
on December 5 of the same year, the people's Bank of China, the Ministry of instry and information technology, China Banking Regulatory Commission, China Securities Regulatory Commission and China Insurance Regulatory Commission jointly issued the notice on the prevention of bitcoin risks, making it clear that bitcoin is "not a real currency, but a virtual commodity", and forbidding the Bank of China and Payment institutions to directly or indirectly participate in bitcoin transactions, But ordinary Chinese citizens can still trade bitcoin as a commodity
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in particular, financial institutions and Payment institutions are not allowed to price procts or services with bitcoin, buy or sell bitcoin as a central counterparties, underwrite insurance business related to bitcoin or include bitcoin in the scope of insurance liability, No other bitcoin related services shall be provided 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
source of reference: People's Network - bitcoin trading risks, strengthen supervision, China is not alone
Network - Notice on preventing bitcoin risks