Bitcoin fell nearly 80% a year, real opponent, global Ponzi finance or has been lifted

This time last year, are all obsessed in global virtual currency bitcoin and other investors are most excited for a long time, because of the way that the price of bitcoin is leading to the $20000 mark. In the last 12 month bitcoin reached this goal, many investors in the world and have admitted, can try to in the near future, with once again jumped bitcoin wealth jumped. However, the next reality, but surprise.

Although sometimes the rebound, but the overall price of bitcoin has continued downward, the recent trading day, but once a record price of $4405, compared to last year’s peak, a bitcoin fell to $15595, down 78%. This means that if an investor enters, in last year’s highs held so far, the loss of assets of nearly 80%. Although this seems too painful, but in reality, the world in such a large number of traders are. The risk of BWC Chinese network repeatedly reminded investors bitcoin hidden. At present, the global bitcoin Ponzi finance or are being opened.

In fact, from the perspective of the relationship between monetary and financial investment goods, bitcoin seems a recent slump and stocks, crude oil futures and other dollar denominated asset prices fell in the same. The U. S. dollar interest rates continue to strong cycle, the dollar asset prices shrink looks perfectly normal. However, this drop rate is far beyond the dollar price of its assets to hedge, therefore, to be sure, bitcoin expansion beyond the imagination of many people.

At the same time, we note that in addition to real currency, bitcoin and other virtual currency entity opponent disk is more and more, we know that bitcoin and no sovereign entities and endorsement, at the same time, its inventor Nakamoto – always a vague name, nationality and even the Cong, what is individual or organization has always been a mystery, which means that bitcoin’s “three noes” feature. Obviously, once the sovereign entities own crypto currencies have been published, bitcoin transactions will be less and less space. Since this year, this scene is occurring.

After Venezuela’s oil money publicly available, multinational has made it clear that it is developing its sovereignty and entity based on encryption currency. 2 months of this year, one of the world’s major exchanges in Israel Diamond Exchange announced that the issue of diamond encryption based on currency. In addition, Iran and Russia are stepping up research in petroleum based on national sovereignty and the entity endorsed encryption currency to the system of SWIFT, various financial restrictions to avoid dollar dominated. He said Russian Federation economic adviser Sergei Glazev a few months ago, the digital ruble can bypass international restrictions ($limit), to complete the trade settlement in the global scope.


Coincidentally, the International Monetary Fund (IMF) President Lagarde recently said in a speech, when the currency faces a historic turning point on the occasion, the central banks should consider the issue of digital currency. Lagarde said that with the global demand for cash currency decline, the changing nature of the. The central bank in providing funds for the digital economy plays an important role. She pointed out that Chinese, Canada, Sweden and Uruguay are in the “central bank embrace change and new thinking, to consider how to provide digital currency to the public plan.

At the same time, we note that the following China ahead of last year’s ban bitcoin transaction and ICO, the global number of financial institutions and the economy central banks are aware of fraud attribute of bitcoin virtual currency and other non sovereign, have to follow to join the fight against bitcoin ranks. The bank for International Settlements (BIS) general manager Carstens said, the central bank must be prepared to prevent the virtual currency position is more stable, and the loss of public confidence in a central bank. Central banks should prevent bitcoin evolved into a “Ponzi scheme”. The German central bank governor Wiedemann said virtual currency will not be sufficient to replace cash, and the risk will increase commercial bank run. The Bank of Finland has banned local virtual currency exchange Prasos Oy business.

Photograph: AtoZForex

Than bitcoin once popular in Japan earlier this year also began a crackdown on bitcoin. A few months ago, Japan’s financial services agency (FSA) to a plurality of digital currency enterprises for money laundering (anti money laundering) supervision regulation, FSA believes that most companies now too much emphasis on the development of customers, while ignoring the management work. BitFlyer, QUOINE, bitpointjapan, bitbank, BTCbox6, Tech Bureau, the six Japanese currency exchange to be punished and ordered the encryption to improve business.

But one point is that due to the bitcoin trading volume, the market of Japan and South Korea or is becoming a “bitcoin largest leek”, because many investors in Japan and South Korea to bitcoin madness. For example, in South Korea, whether students or “Korean aunt”, obsessed with bitcoin investors too many to count.

Images from BBC

For example, a South Korean official called Youbit bitcoin exchange 12 last year November 19 officially declared bankrupt, Youbit said, this time by the attack, the exchange of assets losses 17%. And this is the exchange of two degrees is illegal”. After a nearly 4000 bitcoins stolen, then the value of 55 billion won exchange assets therefore evaporated nearly 40%. For any sovereign and entity endorsement of bitcoin, once lost, the loss of investors will never get back. It has also become another evidence of bitcoin Ponzi finance. (end)

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