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1 years into millions into history but the bitcoin industry chain is still fever;
Ever since entering February, Lin Xiao (pseudonym), who works in bitcoin 'brick moving' (bitcoin exchange arbitrage), feels like years.
Experienced by the United States, South Korea, China, Japan and other major regulatory agencies on the digital currency a series of intensive suppression of digital money investors are fleeing.
Since the beginning of 2018, digital currencies such as bitcoin have suffered a cliff-like decline, with bitcoin prices having dropped 30% in the past two weeks and have dropped more than 50% from the $ 20,000 high of December last year. Beijing at 23:00 on the 4th, Bitfinex reported 8640 US dollars (about 54,400 yuan).
Xiao Lin learned bitcoin a year ago via a radio show, and soon he found that there are many bitcoin exchanges, and many of them have price differences.If you buy bitcoin cheaper at an exchange, Other exchanges sell at high prices, easy to make the difference Arbitrage - this method of making money in the industry commonly known as 'move brick' Because of bitcoin price fluctuations and differences is very large, Lin Xiao and his companions soon Accumulated a large fortune.
However, starting from September 2017, Lin Xiao became less fortunate as RMB transactions in virtual currencies such as bitcoin were halted by regulators such as the PBC, and soon Lin decided to open a bank in Hong Kong, China Account.
'Opened 4 to 5 bank accounts in a single breath to facilitate Bitcoin transactions.' Lin Xiao told CBI that his career as a brickmaker continues.
Many currency exchange points in Hong Kong accept bitcoin transactions. (Source: Network)
Despite the fact that the HKSAR government did not explicitly prohibit the speculation in the virtual currency, Lin Xiaoyin, the bitcoin price plummeted this two-month period in support of the currency, suffered heavy losses. In desperation, he thought of Hong Kong's understanding of the 'mining' life. Make money before that '.
'Mining' high cost not to make money
Wang Hua (a pseudonym) in Hong Kong was once a somewhat qualified 'miner'.
About two years ago, he and his friends bought dozens of 'mining machines' and officially opened up the 'mining' life.However, Wang Hua said simply saying that 'mining' means that when a transaction occurs, the network On the implementation of this computing program on the computer, will have to begin computing, the first computer to calculate the results, they will take the initiative to broadcast on the network has been calculated, the results are verified, you can get a new virtual currency and transaction fees As a bonus, the main source of revenue for miners is the virtual currency and transaction fees.
Wang Hua told CBI that the market value of virtual currency held in its hands has doubled in the first year of 'mining.' Wang Hua disclosed that most of the 'miners' will not sell out their virtual currency in large quantities Wealth can only be measured at market value, 'but I feel that my annual income is at least 8 digits. "Wang Hua said.
Eight digits, that is, tens of millions.
Wang Hua catches a good time, but as more and more people join the army of miners, the cost of mining is also getting higher and higher.
Another "miner" Li Qi (not his real name) entered the business a bit late, and he started mining only six months ago. Li Qi told CBI that the price of 'miners' in Hong Kong is now rising, such as bitcoin miners S9, the cost rose from 25,000 Hong Kong dollars six months ago (about 20,000 yuan) to the current 33,000 Hong Kong dollars (about 26,600 yuan), or 32%; while the cost of electricity and network maintenance costs such as monthly needs Above 1,000 Hong Kong dollars, basically a 'mine machine' costs a year at least 40,000 Hong Kong dollars.
Since 'mining' relies heavily on chances, most 'miners' will join the 'mining pool' to increase the chances of digging into virtual currency; at the same time, Pay the appropriate management fees, which is pushing up the cost of 'mining' one of the reasons.
Another hurdle at pushing the cost of 'miners' is the graphics card in short supply. "Game media Polygon reports that the price of some GeForce GTX 1070 graphics cards in some Nvidia models should have been around $ 380, but due to a shortage of inventory, More than 700 US dollars, or more than 80%.
Bitcoin Financial News Bitcoin Bitcoin co-founder Hu Jushan on the First Financial said the graphics card price from the original 1700 Hong Kong dollars rose to 4200 Hong Kong dollars, but also the status of long-term out of stock, if you want to buy a video card, has not set the first Quarter of the manufacturers supply, only the second quarter of supply, but also through a variety of relationships can be set.
'Now all the miners are missing cards,' said Hu Jushan.
Graphics card that is wealth, and now waiting for too many people, and other big shipments to the second quarter of the. (Photo: Bitcoin.hk official website)
In the process of rising costs, the 'miners' can only find another way, and many 'miners' simply open up the 'mining companies' to create new business models. "Hu said that there are many business models mining companies can have To help investors host 'mines' and charge custodian fees, the commission for management fees can reach double digits basically, but as the cost in Hong Kong is getting higher and higher, many mining companies have already moved the 'mines' to Southeast Asia to save electricity costs.
In fact, 16.8 million bitcoin has been mined as of January 13, 2018. According to the original Bitcoin original algorithm set by Nakamoto, the total amount of bitcoin is about 21 million pieces. Based on this, the total bitcoin supply The amount has been used up 80%, that is, at present only 20%, a total of 4.2 million bitcoin for mining.
Therefore, despite the weight of global regulation and the displeasure of large institutions, there are still some 4.2 million bitcoin to be mined at this limited remaining amount.
Trading platform Coinhills data show that in the past 24 hours, the global digital currency trading volume totaled 1.489 million bitcoin, or about 168.5 billion US dollars.
Due to the substantial increase in transaction volume, the current "miner's fee" for bitcoin transfers (ie, transactions) has risen from 3% to 5% of bitcoin.
Bitcoin Prospects Worry?
For example, Coulla, which claims to be 'the smartest mining company,' sells its own computing power, for example, they promised in a contract to 'mined' 150mh per second to customers, dug daily Of the virtual currency sent to customers in the form of reports, so that many investors can not buy their own 'mine machine' directly enjoy the 'mining' process However, Culla Wu Wei, marketing officer told First Financial, 'digging The mines do not really make money, especially since they were not established for a long time. What they really value is the ICO (First Token Distribution).
Similar to IPO (Initial Public Offering), ICO is a way to finance projects that develop, maintain, exchange related products or services using blockchain to combine usage rights and cryptocurrencies, and if the mining company has excellent Of the technical team, then you can participate in ICO. After successful financing, you can earn a lot of service fees.
It is worth noting that ICO has long been halted by regulators in mainland China.
In its exchange with a number of mining companies, First Finance found that bitcoin is no longer the 'mine' they are primarily looking for. Many companies are flirting with other virtual currencies such as Ethereum, Ripple) and so on.
Even though Ricci was late, but his main dig is the etheric ether, so the influence is not too big.At the time of bitcoin rise, the market value of etheric ether also soared, Li Qi said at that time the price of the etheric currency rose , They all look silly eyes.
Wu Ziwei told CBI that he is not technically optimistic about the future of Bitcoin, for example, bitcoin trading takes too long, takes as long as 10 minutes and sometimes takes more than two hours.
In fact, as early as five years ago, some people in Hong Kong started to engage in the virtual currency market. Many senior speculators started from bitcoin. In the past, there were no trading platforms and only over-the-counter transactions.
Mr Hu told CBN that he started to pay attention to the price of bitcoin in 2010 and found that bitcoin fell sharply each year but many investors were not experienced at the time and some investors even chose to drop once Selling all its bitcoins, but now that the market has stabilized as investors get more sophisticated, the recent volatility in bitcoin is far smaller than it had been despite recent bitcoin price volatility.
Hu Jun Yang believes that the short-term bit of bitcoin is in an adjustment stage with a support point of around $ 7582. If it falls through, the bitcoin price may drop to $ 3900. In the medium term, bitcoin may return to $ 15,000 in April To around $ 17,000 and may even be back to the $ 24,000 later this year.
Bitcoin moved from steepness to sharp decline since March last year (Source: Yahoo Finance)
Exchange into a hot land
In addition to the miners' all-out efforts, the virtual currency exchange has long been regarded as one of the key industries in the currency circle, so while global regulation is taking strict control over virtual currency transactions, there are still many institutions that rush to this market .
Japan's chat software company Line recently announced plans to launch a virtual currency exchange. Line said in a statement on Wednesday that the Japanese financial regulator is reviewing the company's application for the operation of a virtual currency exchange.
Reporter also learned from insiders, after the two major domestic virtual currency exchange, fire coins network and OKCoin will also enter Japan and South Korea in the first quarter of this year, to seize the virtual currency trading market.
FireWun already announced that it will set up two exchanges with Japan's SBI Group: SBI Virtual Currency and Huobi Japan to jointly explore the Asian and global digital asset markets. The new exchange will be available early in 2018 and will provide Currency transactions, yen transactions.In addition, according to insiders said fire yuan, is currently planning to set up the San Francisco office.
OKCoin, after shutting down its business in China last October, obtained a license to trade multi-national digital assets in the world through investment and cooperation, and formally entered the overseas market on the OKEx platform.
OKEx's latest move is the digital currency exchange to be launched in South Korea starting next month, and OKCoin has now set up its OKCoin Korea website, officially embarking on a digital currency pre-order, which is planned to offer over 60 digital currency won services.
However, Japan and South Korea's exchange market has also been a murmur recently, the risk of virtual currency exchange rose sharply, for example, on January 26, Japan's largest digital currency theft occurred in Japan, Japan's second-largest digital currency exchange Coincheck was Hackers steal nearly 500 million US dollars worth of new currency (NEM), the news triggered a huge market.
South Korea started implementing the real-name virtual currency trading system domestically from January 30, but the South Korean regulator still strictly regulated the domestic exchanges. For example, the official website of South Korea's Bithumb Exchange shows that due to the violation of the relevant laws in South Korea, the exchange has received Korea Communications Commission issued a correction order.
Regulated by the regulatory agency of the virtual currency
However, as Bitcoin prices plunged, Bank of America, Citibank and JPMorgan no longer allow customers to use credit cards to trade any virtual currency since February, limiting the influx of funds, all of which said Worried about the credit risk of customers who use digital credit to buy digital currency.
And Bank of America has another intention in its move, that is, to comply with anti-money laundering laws and regulations to prevent some illegal elements to steal customer credit cards, and then buy digital money directly.
In addition, the CME recently made it clear that it will not continue to launch digital asset derivatives, and CEO of CMEZ said that at present it has not introduced any other crypto-currency derivatives other than Bitcoin.
Recently, the Hong Kong SAR Financial Services and the Treasury Bureau and the Investor Education Center, a subsidiary of the Hong Kong Securities and Futures Commission, jointly launched a public education campaign on ICO (First Token Issue) and cryptocurrency to help the public to have a correct and comprehensive understanding of the participation of ICO And the potential risks of trading in encrypted currency.
CFO Deputy Commissioner Chan Ho-wan told First Financial that the media coverage of ICO and cryptocurrency mainly focused on the sharp ups and downs of prices, but on the contrary increased investor interest in cryptocurrencies. However, in fact, many investors may not necessarily Clearly understand the nature of cryptocurrencies and the underlying risks.
Leung Fung-yee, executive director of the Hong Kong Securities and Futures Commission Interim Department, said although the ICO is similar in form to the IPO, it is not regulated at the moment and there are no earnings, revenue and business records for start-ups participating in the ICO, and ICO does not have the assets to back it up as hard to do Valuation.On the other hand, the ICO will be accompanied by a white paper outlining the project's concepts, technologies, prospects, etc. However, these whitepapers often involve many jargon that is difficult for the average investor to understand and does not have an independent third-party objective audit The authenticity of such white papers will create a lot of confusion for investors.
As early as September 2017, the Hong Kong Securities and Futures Commission issued a circular stating that if ICO's digital tokens comply with the definition of 'securities', they provide trading services or provide advice on such digital tokens or manage or promote digital investments The funds of tokens may all constitute 'regulated activities.' Persons or institutions engaged in 'regulated activities', whether in Hong Kong or not, as long as their business activities are directed to the public in Hong Kong, are required by the Hong Kong Securities and Futures Commission Licensed or registered with the SFC.
More than just mainland China and Hong Kong, Canada, the United States, and Japan both began tightening their regulatory hurdles last year: the Canadian Securities and Exchange Agency (CSA) issued a notification last August about the issuance of ICO tokens, which the ICO needs to reference In July last year, the SEC said that ICO tokens may be considered as securities and need to comply with the relevant regulations and remind investors to exercise prudent investment. In March last year, Japan demanded that a virtual Companies trading in currency and exchange of virtual currencies are required to register applications and provide relevant information.
2. The price of bitcoin dropped by 9,000 U.S. dollars.
Recently, bitcoin was "stumbled." On Tuesday, the price of bitcoin fell more than 10% and fell below $ 10,000. On February 2, according to Bithumb, a Korean virtual currency exchange trading platform, bitcoin prices have dropped to $ 8,247, a drop of nearly 60% from the over $ 20,000 price of bitcoin late last year.It is reported that this round of decline was the result of Bitfinex, the world's leading cryptocurrency exchange, and Tether, the virtual currency issuer, In the meantime, the SEC scrubbed an initial $ 600 million raised from an initial public offering of virtual currency on Tuesday, Treasury Secretary Steven Mnuchin said "criminals use digital currency to cover deals is a big concern." Once the government agency finds it necessary, he will not hesitate to ask Congress to give more power to regulate the digital currency.
From the beginning of the non-regulatory, to some countries to recognize the legitimacy of Bitcoin and its trading activities, and then to some countries issued a risk warning, we can find that countries regulate Bitcoin more stringent, but now it has reached the regulatory escalation of the moment. , In addition to the United States, South Korea, Germany, Japan and other countries are also beginning to strengthen the regulation of bitcoin.Global regulatory storm has come to bitcoin, and the intensity is still increasing.
Multi-country bitcoin regulatory escalation
In the Asian region, some Indian banks, including the National Bank of India, suspended the trading of their local bitcoin exchanges, including the top ten exchanges, who found that there was suspicious transactions in these accounts and that the banks also demanded that bitcoin exchanges Borrowing provides additional guarantees.
On January 8, the Chairman of the Financial Services Committee of Korea said at a news conference that it is conducting a joint inspection with six banks providing encrypted currency accounts with the Korea Financial Supervisory Authority to verify that the previous anti-money laundering regulations and related accounts adopted a real-name system January 11, according to foreign media reports, the South Korean Ministry of Justice is preparing legislation for the complete closure of the domestic exchange to pave the way after the January 10, South Korea's two exchanges Bithumb and Coinone by the Internal Revenue Service Blitz checks, the measure is also considered to verify the exchange for the existence of tax evasion and financial transactions.
In addition, South Korea from January 30 onwards, digital currency exchange existing accounts to real-name confirmation account can be approved after the transaction, the new user account must be real-name authentication.According to the relevant provisions, even through the real-name certification, foreign investors And minors under the Korean Civil Code are unable to conduct digital currency transactions.
Japan's largest digital money theft in history hit a new loss of about 530 million U.S. dollars (XEM) on January 26. Japan's financial services agency ordered Coincheck, the exchange company, to submit a report on hacking, Management and investigation of measures to prevent recurrence of similar incidents, and said that the security of the digital currency exchange was investigated.
Recently, German Finance Minister Peter Altmeier and French Finance Minister Bruno Lemere jointly held a press conference in Paris, saying that this year's G20 summit in Argentina will jointly promote the global regulation of Bitcoin, Will warn that the world's most popular cryptocurrency is being exploited by unlawful groups.
The Nordic Union Bank, the largest bank in the Nordic region, recently issued a ban requiring employees to stop bitcoin and other cryptocurrencies from trading on February 28 this year; the Indian tax department said on January 22 that in a nationwide survey of India for 17 months Of the cryptocurrencies more than 3.5 billion U.S. dollars, issued a tax notice to hundreds of thousands of people; South Korean financial regulators announced that as of January 30, the use of anonymous bank accounts for encrypted currency transactions will be banned.
Platforms and regulators are facing important problems
Some analysts pointed out that whether the United States, Japan, Britain, Germany and other countries have regarded it as an asset or virtual currency, or Russia and other countries that prompt the risk of the Bitcoin is still unable to accurately judge, in the end it should be attached to the 'Securities 'Or "financial assets" or "currencies." Under the current regulatory framework of the two countries, the financial regulatory systems of all countries are either "separate" or "mixed", it seems that they can not be supervised and managed effectively.
In the opinion of Xue Hongyan, an Internet finance researcher at Suning Financial Research Institute, bitcoin itself is innocent, but a series of traits derived from bitcoin really plagued the real world. For example, the benchmarking effect of soaring prices triggered a virtual currency bubble and the market is still small. Are manipulated and their semi-anonymity facilitates the criminal activities. The cross-border circulation characteristics affect the effectiveness of domestic foreign exchange policies, their payment instrument features and even potential threats to the legal tender.
On October 16, 2013, the famous U.S. drug and weapon crime website 'Silk Road' was investigated and dealt with by US regulators, involving extensive use of bitcoin transactions. In April 2017, the bitcoin Ransacks virus swept the globe. In addition, The world's hundreds of millions of dollars of money laundering, foreign currency to flee, the use of bitcoin can not be tracked, anonymity and so on.
On the trading platform, there are also risks. On February 28, 2014, Mt.Gox, the world's largest bitcoin exchange, claimed a total of 850,000 bitcoins were lost, including about 75 of the user's trading account Million bitcoin, and about 100,000 bitcoin in the account of the site's owner. The Bitcoin trading platform GBL, registered in Hong Kong, ran abruptly in 2013, causing millions of registered users of bitcoin to be lost.According to statistics, From 2010 to the present, the Bitcoin trading platform collapsed by up to 50% in a few years.
'The unqualified entrants of the Bitcoin trading platform, the unsafe trading system and the stateless registration of the trading platform led to the fragile vulnerability of bitcoin, the so-called' anarchist 'monetary minority, Risky, "Zhongnan University of Economics and Law Industrial upgrading and regional financial Collaborative Innovation Center, researcher Li Naihong in the" Securities Daily "interview that the tax collection, how to carry out circulation management, has become placed in the various platforms and regulatory Department of the important problems. China Economic Net
3. The state will adopt a regulatory measure on the website of the overseas website of virtual currency;
Xinhua News Agency, Beijing, February 4 (Reporter Xu Sheng) A reporter learned from the People's Bank of China on the 4th that after a regulatory ban on ICO (first tokens issuance), many insiders turned to overseas platform websites to continue participating in the virtual currency transaction, taking into account the territory Investors are faced with various risks involved in trading overseas platforms and will adopt a series of regulatory measures.
The reporter learned from the Central Bank that taking the overseas ICOs involved by some insiders as an example, various risks and problems as stated in the "Notice on Preventing the Financing Risk of Token Issuance" jointly issued by the previous seven ministries still exist, including the illegal issuance of projects Real, fraud and even pyramid schemes, etc., and participate in overseas platform trading, it may be more difficult for investors to recover the losses.
Regulators to remind investors need to recognize the risks associated with offshore ICO and virtual currency trading platform, firmly establish the risk prevention awareness, do not participate in the relevant illegal activities.
The reporter also learned from the central bank that in the next step, the state will adopt a series of regulatory measures including the banning of related commercial presences, the banning and disposal of domestic and foreign virtual currency trading platform websites, etc. so as to prevent financial risks and safeguard financial stability. To shut down one at the same time, the future depending on the situation, nor ruled out the possibility of introducing further regulatory measures.
4. U.S. banking industry completely encroaches on bitcoin business
Beginning this weekend, Bank of America, JP Morgan and Citi each announced a cessation of credit card purchases for digital currency business.Coinbase, the largest Bitcoin exchange in the United States, announced that banks have taken credit card purchases of digital currency as a high-risk cash on loan business The banking sector is rapidly closing its payment channels after the digital currency plunges.
On Thursday, Coinbase, the largest Bitcoin exchange in the United States, has given notice to its customers that banks are now starting to use their Bitcoin reload business as a 'cash on loan' business, which means that buying cryptocurrencies by credit card has to pay high fees and Interests continued to turmoil in the digital currency amidst global regulatory turmoil Bitcoin traded below the threshold of $ 8,000 for a record low since November This bitcoin price has fallen 30% this week, the worst weekly performance in 2013, Prices dropped nearly 60% from historic highs
5. The United States brewing virtual currency regulatory roadmap Global regulatory continued tightening;
The United States brewing virtual currency regulatory road map
Economic Information Daily
At 10 am local time on February 6, the Senate Banking, Housing and Urban Services Commission will hold a hearing on virtual currencies, which the U.S. media believes will be called 'Virtual Currency: SEC and Commodities The CFTC's oversight role 'hearing will be a key moment for the virtual currency.
US regulators focus on virtual currency
It is reported that at the hearing, the SEC Chairman 杰克克莱 Day, the United States Commodity Futures Trading Commission Chairman Christopher Giancarlo will attend.CNBC believes that this meeting or for the U.S. institutional investors to provide more Clear regulatory road map.
The United States applies a separate regulation to the digitally encrypted currency under the existing framework and states and agencies have corresponding rules. As early as last year, the United States also considered bitcoin to be modest and of little influence and therefore not very much in charge of the monitoring of digitally encrypted currency Severe US financial markets two regulators - the SFC and the Commodity Futures Trading Commission, ETT for bitcoin-denominated assets have very different attitudes.But now the two are gradually joined forces, said it will continue to crack down on illegal digital cryptocurrencies areas behavior.
Earlier, Bloomberg reported that in December last year, the CFTC issued a subpoena to Bitfinex, one of the largest crypto-currency exchanges in the world, and its associated digital token issuer Tether, as the outside world has denied funding for its tokens have a question.
In January, the CFTC announced that it has sued three virtual currency exchange platforms for allegedly cheating its clients and violating the commodity trading rules. The CFTC platform for prosecution includes Cabbage Tech, whose founder allegedly misappropriated user assets and registered in the UK Entrepreneurs Headquit Ltd, accused of carrying out a Ponzi scheme - claims that the platform leader claimed $ 1.1 million in bitcoin from more than 600 investors and pledged to spend the money on investment, and one that was sued Platform-related information has not been disclosed, which is the first time since CFTC allowed the launch of bitcoin futures in December last year.
The SEC recently said it has obtained a court order to investigate the digital currency held by AriseBank, a digital currency banking company based in Dallas, Texas, a move the industry described as the federal regulator's involvement in the ICO tokens financing market The US Securities and Exchange Commission filing a petition with the District Court for the Northern District of Dallas on January 25 said that AriseBank has started using ICO financing since November last year and has now received a total of 600 million U.S. dollars. The financing plan was originally scheduled for January 27 this year But both the company and the issued token, AriseCoin (also known as eACO), were not registered with the SEC as a violation of the US securities laws and did not provide investors with the necessary disclosure of information regarding business models and financial history. The company and co-founder Jared Rice Sr. and Stanley Ford are also suspected of fraud, and the company allegedly provides consumers with VISA credit cards backed by more than 700 digital currencies, which the SEC also considers false.
According to The Wall Street Journal, the largest three U.S. banks, Bank of America, Bank of America, and Bank of America, announced on February 2 that they will Banning the use of their credit cards for the purchase of bitcoin and other digital currencies suggests that banks are clearly guarding against such risks.
Global regulatory continued to tighten
At present, governments are increasingly discussing how to deal with the risks posed by digital cryptocurrencies, and the global regulatory turmoil has been and continues to intensify.
On January 8, the Korea Financial Services Commission and the Korea Financial Supervisory Authority conducted a joint inspection of six banks providing digitally-encrypted monetary accounts to verify the implementation of the anti-money laundering regulations and related accounts adopted under the name-naming convention. As of January 30 According to the relevant regulations, even if the real-name authentication is adopted, foreign investors and the provisions of the "Civil Law" of Korea stipulate that the new digital certificates of exchange Of minors are unable to carry out digital currency transactions.Korean Financial Services Commission has said it will deepen cooperation with China, Japan's regulatory agencies to curb speculative transactions in digital currencies.
On January 26, the largest digital money theft in Japan took place. Japan's Financial Services Department ordered Coincheck to submit a survey on hacking, risk management and measures to prevent recurrence of similar incidents and said that it is conducting a digital currency transaction The safety of the investigation.
Indian Finance Minister Jaytelli said he promised to crack down on the illegal use of cryptocurrencies and stressed that cryptocurrencies were not legal ones.
It is also reported that France and Germany will submit a joint proposal on Bitcoin regulation at the G20 summit in March 2018, while Russia plans to complete the regulatory framework for cryptocurrencies and ICOs by July 2018.
On the United States to deepen the study of digital cryptocurrencies, H.Rodgin Cohen, a well-known Wall Street lawyer, told Bloomberg that it is only a matter of time before the United States regulates that the "comprehensive response" to Bitcoin is a matter of time. The U.S. regulatory agencies will formulate a joint strategy to regulate digital encryption currency market.
Market decline has not stopped
After going up wildly, many markets will crack down on digitally-encrypted currencies and there will be a huge shakeout in the market. Bitcoin, once worth more than 19,000 U.S. dollars in December last year, has fallen by more than half in less than two months. At present, Fluctuations around $ 9,000.
It is reported that at present the total supply of bitcoin has been spent 80%, leaving only about 4.2 million, waiting for the world's 'miners' were divided, the news in the previous speculators is a huge positive, but Recent price plunge, some investors have been stuck, very helpless.
In the face of regulatory news, participants cautious wait and see. Last week's market, CME bitcoin futures contract in March contract fell 505 US dollars or 5.56 percent to 8585 US dollars, down 21.71% the week; CBOE bitcoin futures XBT3 month contract fell 1380 dollars, or 15.20% at $ 7,700, down 29.62% over the week CME bitcoin futures contract fell 5.56% to $ 8,580 a week, down 21.89% week; CBOE bitcoin futures XBT4 April contract fell 6.65% Reported 8490 US dollars, fell 22.54% week.
Last week, the Dow Jones industrial average closed down 665.75 points, down 2.54%, the biggest one-day decline since June 24, 2016, at 25520.96 points. The S & P 500 index fell 59.85 points, or 2.12%, creating 2016 The biggest one-day drop since September 9, the Nasdaq Composite Index also closed 144.92 points, or 1.96%, the biggest one-day drop since August 10, 2017.
Overstock.com, the blockchain concept associated with digitally encrypted currencies, closed 15.98% lower. Kodak closed down 7.19%, losing four days, losing 5% at LongFin, closing 2.22% at Accenture and 1.14% at Riot Blockchain.
6. The media said that the meeting of Minister Han and Zhou Xiaochuan want to strengthen digital currency regulatory cooperation
On Friday (February 2), South Korea's Minister of Planning and Finance Kim Dong-yeon met with Zhou Xiaochuan, governor of the People's Bank of China. Both sides discussed the digital monetary policy and emphasized that both sides will further strengthen cooperation.
Compared with the Korean digital currency market, China has adopted a "one size fits all" ban on the digital currency industry, not only does not allow digital currency transactions, but also closed the digital currency exchange.Although the South Korean government had also hoped to prohibit the digital currency trading, but in After a strong social rally, the attitude has changed again and decided to take a more gentle "soft landing" approach to solve the problem step by step.On the end of last month, all digital currency exchanges in Korea all use the latest real-name account trading system, while trading The amount also has certain limits.
South Korean media Newsis quoted Kim Dong Yan as saying:
For both the recent series of questions on virtual currency, both China and South Korea exchanged views on the situation and countermeasures. '
In addition, Asia Today also reported that the People's Bank of China reiterated on both sides that it will work closely with the South Korean government while the South Korean Ministry of Planning and Finance said it will continue to cooperate with the People's Bank of China through high-level consultation channels.
On the other hand, the reason why South Korea did not completely close the digital currency exchange was mainly due to other issues such as underground transactions and hot money fleeing.
Kim Dong-Yan said the Korean digital currency exchange is not a financial entity and can only be regulated under the e-commerce law at the moment, while the digital currency exchange in neighboring Japan is registered and managed under the state finance department. He said:
'At this stage, one of the biggest problems with the digital currency industry in South Korea is that the exchange is subject to the e-commerce law, which is an issue to be solved.' '36 Krypton