China mainland's views on bitcoin and other virtual coins
First of all: You can ignore the title "Chinese mainland's views on bitcoin and other virtual coins". You will see the following content, which is the ridiculous remarks of the Chinese currency on the virtual currency and the definition of the future of the virtual currency. Because in our place, virtual currency has been suppressed.
Secondly: I have been in contact with the virtual currency since the bitcoin was more than 700 US dollars, and I have been optimistic about the decentralized currency.
Finally: I can come here very very, very, very difficult, the domestic has blocked the VPN, and it is illegal to define the private use of VPN. I am studying computer engineering. The next article I will tell you all the hardships I have come here. Let us now look at the views and opinions of most people in China.
No SBD buy power can't blog anymore ，Also can't link https://blocktrades.us/ buy SBD
Is the virtual currency such as bitcoin written in China in October 2019 about virtual currency legal in China? The remarks.
Bitcoin mining machines are computers used to earn bitcoin. These computers generally have professional mining chips, which use the method of burning graphics cards and consume a lot of power. The user downloads the software from the personal computer and then runs a specific algorithm. After communicating with the remote server, the corresponding bitcoin can be obtained, which is one of the ways to obtain the bitcoin.
Popular digital currencies in 2013 include Bitcoin, Litecoin, Zetacoin, Pennycoin (extranet), invisible gold bars, red coins, pole coins, barbecue coins, and prime currency. There are currently hundreds of digital currencies in the world.
Bitcoin mining machine features
Price and performance
The price of Bitcoin mining machines ranges from two to three hundred yuan to 200,000 yuan. From 2011 to 2013, the high-profile bitcoin “mining machine” rose from 10,000 yuan to 300,000 yuan, but the performance was much better than before. According to industry insiders, the old machine can dig up one bitcoin in 100 days. Today (2013) machines can dig up to 3.5 in 100 days.
According to the mining equipment data released by the domestic assembly team, a minimum configuration mining machine with a price of 3,000 yuan can be returned to the base in more than 30 days according to the bitumin mining speed. Machines with a mining speed of 10G/s can dig up about 0.03 bitcoins 24 hours a day, while 13G/s machines can dig about 0.035 bitcoins 24 hours a day, according to the full network computing power and difficulty of 2013.
Production value
According to the calculation formula of bitcoin output, the output is almost halved every four years, and finally reaches an extreme value of 21 million. At this time, it will appreciate greatly. Such a currency without central bank control will continue to appreciate in comparison with real money that is constantly being quantified. By 2013, Bitcoin had produced more than 11 million.
Hardware expenditure
Mining is actually the competition of performance and equipment competition. The mining machine consists of a lot of graphics cards, even if it is only the low-end graphics card of HD6770, the computing power after the "group" can surpass the single graphics card of most users. of. And this is not the most terrible, some mining machines are composed of more such graphics card arrays, dozens or even hundreds of graphics cards come together, the graphics card itself is also asking for money, counting hardware costs and other costs, mining There is considerable expenditure.
Mining gains and risks
The mining revenue can be calculated by the following formula: mining income = bitcoin generated * currency price - mining machine cost - electricity fee - maintenance fee and labor cost - mine depreciation fee, etc.
If you are just a small miner, you can simply deduct the cost of the mining machine and the electricity bill.
If you buy a product from the cloud computing platform,
Revenue = computing power - computing cost.
There are risks when there are gains, and the mining risks are as follows:
- Bitcoin production is halved. In July of the same year, the Bitcoin network will face Bitcoin halved, that is, every 10 minutes, each block contains only 12.5 bitcoins, which means that the bitcoin dug out by the same computing power will be reduced accordingly. On the other hand, the price of the currency is also likely to rise.
2, bitcoin currency price and calculation difficulty is unstable, resulting in user income is also unstable. - Risks such as power outages and machine maintenance.
It is not illegal to do so in mainland China. Of course, the mining machine is not illegal. Otherwise, those who use the video card to dig the video card will be confiscated?
The "Notice" issued by the five ministries defines Bitcoin as a "special commodity" that can be legally held at its own risk.
Of course, the risk of this thing is very big and big, and it will be lost if you fail. If you want to play this, you must have a strong heart.
Why does China not declare bitcoin illegal?
Bitcoin is just a virtual digital currency. Its core is just an open source software project. Anyone can copy it and launch its own version, but it has been fascinated by investors all over the world in the past year. Since the beginning of 2017, this virtual digital currency has become more like a roller coaster ride, and prices have continued to rise, making the entire market horrified. Yesterday, a top Wall Street strategist thought that Bitcoin would rise 40% next year, and Bitcoin is expected to target $6,000 by mid-2018.
Just last week, Xinhua News Agency also reminded virtual digital currency investors in a newsletter on "Bitcoin half-month price 飙 50% risk increased, need to tighten the system cage":
Need to enhance risk awareness, and said that the cage needs to be tightened. Bitcoin is becoming an arbitrage tool for some investors. The risk has gradually spread to the financial sector, and some illegal trading platforms should be severely punished or shut down.
Just dozens of hours ago, Xinhua News Agency once again issued a "Bitcoin skyrocketing three major risks need to be vigilant" to alert investors to bitcoin risk:
At present, Bitcoin has three major risks: cross risk, price risk, and “running” risk. Due to its characteristics of being anonymous, not restricted by national borders, and difficult to track, Bitcoin is gradually being used as a means of redemption and payment by lawless elements. Xinhua News Agency said that in the near future, the central bank in the on-site inspection of the main trading platform in Beijing found that both the Firecoin and OKCoin coins used the deposit funds formed by investors to purchase wealth management products, totaling about 1 billion yuan. New things are developing too fast, and supervision must quickly keep up with the pace, actively improve the system and regulations, and put bitcoin into the cage of supervision. In the face of serious violations of the Bitcoin trading platform, supervision should not be soft, shut down and ban.
BWC Chinese Network found that at present, a few developed countries such as the United States, Japan, Germany, Canada, and Australia recognize the legitimacy of Bitcoin and its trading activities, while countries such as Russia, Thailand, and Indonesia clearly recognize that Bitcoin trading activities are illegal.
However, a deputy minister of the Russian Ministry of Finance said in an interview in April this year that the Russian government is about to accept Bitcoin as a legitimate financial instrument and has opened up a new front for combating money laundering. Just a year ago, the Russian Ministry of Finance threatened anyone who used digital currency to face jail time.
But at present, in China, it just does not recognize the currency attributes of Bitcoin and does not allow financial institutions and payment institutions to carry out business related to Bitcoin. According to news reports, the China Financial Stability Report (2017) was held at the central bank on July 4. )" describes Bitcoin like this:
In this "China Financial Stability Report (2017)", the Internet financial risk has been put into the "banking" chapter, and it is said that "the specific virtual goods such as Bitcoin attract investors to follow suit and there are certain risks."
In the United States, Bitcoin is classified as a commodity. According to the central bank’s report, bitcoin is clearly regarded as a virtual commodity. Virtual goods mainly include computer software, stock quotes and financial information, virtual cloud hosts, virtual cloud disks, and virtual optical drives. , APP virtual applications, some products in online games and online services.
In fact, Bitcoin has been in China for about 7 years. If it is not legal, then the Chinese management will not issue Bitcoin regulations, such as the People's Bank of China, the Ministry of Industry and Information Technology, the China Banking Regulatory Commission, the China Securities Regulatory Commission, and the China Insurance Regulatory Commission. In January 2017, the Notice on the Prevention of Bitcoin Risk was released.
Well-known economist Lang Xianping said that bitcoin is a complete financial scam. Chinese people should be optimistic about their wallets, cherish life and stay away from Bitcoin!
In the past few years, finding the true inventor of Bitcoin has been a hard work for media and bitcoin enthusiasts. But in fact, there is more evidence that Bitcoin was invented by the United States. More investigations revealed that the inventor was a Japanese-American who lived in California, named Dorian Sung Ben Cong.
Watch out for Chinese investors, beware of the risks behind these bitcoin madness, not to be blindly attracted by the bee colony effect. Bitcoin, known as the "power bomb" itself, does not have the attributes and functions of money. The virtual digital currency may be a scam used by the United States to plunder the wealth of emerging market countries. The US official only recognizes that it is a commodity rather than a currency, and is separated from the supervision of its monetary management department. This kind of virtual digital currency may be a scam for financial technology powers to plunder the wealth of emerging market countries. At present, investors can use the decentralized blockchain technology to continuously transfer funds through the bitcoin to realize the transfer of wealth.
In fact, Bitcoin does not have legal and illegal issues in China, because Bitcoin is born out of the Internet and is not terrible. Like the virtual goods in the game, most people agree that they are willing to use money to buy it. Therefore, you can't use the word illegal to characterize it. The state can only regulate it and avoid borrowing from virtual goods such as bitcoin. The name is excessively hyped, damaging the legal currency status of investors and the renminbi.
A few days ago, Zhao Wei, a special researcher at the Chinese Academy of Social Sciences's payment and clearing center, told Xinhua that in China, bitcoin holds only 7% of the global total, but the volume is several times that of the United States and Russia. The transaction volume accounts for more than 80% of the world. Such a high turnover rate highlights the speculative psychology of some people.
According to estimates by Citi analysts, currently 0.1% of Bitcoin players own 50% of Bitcoin and 1% have 80% of Bitcoin. The Bitcoin inventor is a Japanese-American Sakamoto who lives in California and may have 10% of the issued Bitcoin.