The concept of Bitcoin was first proposed by Satoshi Nakamoto on November 1, 2008, and was officially born on January 3, 2009. Bitcoin is a P2P form of digital currency. Bitcoin’s transaction records are open and transparent. Peer-to-peer transmission means a decentralized payment system. Unlike most currencies, Bitcoin does not rely on the issuance of a specific monetary institution. It is generated through a large number of calculations based on a specific algorithm. The Bitcoin economy uses a distributed database composed of many nodes in the entire P2P network to confirm and record all transaction behaviors. And use cryptographic design to ensure the security of all aspects of currency circulation. (ii) Bitcoin crashes again, what's going on? On April 18, 2021, the global virtual currency market plummeted across the board, and the cryptocurrency market experienced the most serious plunge in history. On a 24-hour basis, Bitcoin plunged more than 16%, Ethereum plunged nearly 20% at one point, Binance Coin plunged 17%, and Ripple fell 26%. Within one day, more than 620,000 people liquidated, and the amount liquidated exceeded US$5.579 billion. Brian Armstrong, CEO of virtual currency exchange Coinbase, sold $290 million of company stock, giving insiders a total market value of more than $4.6 billion. Separately, Coinbase Chief Financial Officer Alessia Haas cashed out approximately $99.32 million at a price of $388.73. The ability of cloud computing is reportedly to split mining machines into independent units. The mine provides mining machine computing power supply rental services. Investors only need to purchase a computing contract to perform "cloud mining" and obtain the corresponding virtual currency. It was found on multiple cloud computing platforms that the return rate declared by each platform is not low, and some annualized return rates even exceed 100%. At the same time, cloud computing capabilities also face huge risks. In the absence of third-party guarantees and supervision, cloud computing capabilities sometimes face huge risks. (iii) What are the copycats of virtual currencies that will collapse in 2022? On January 22, 2022, all mainstream copycats were plummeting. Long contracts were liquidated, resulting in tens of millions of dollars in losses, and hundreds of thousands of people liquidated their positions. The pie fell directly from 4.3 to 3.5 today, a drop of more than 10 points for two consecutive days. The cottage was even more bloodbathed. Led by the two virtual currencies of Shanzhai and Big Pie, they will usher in another Waterloo rent tremor, with a total collapse in 2022.What happened to the sharp drop in currency prices? On the one hand, it was because of unsupportive policies, and on the other hand, it was because of the emergence of Bitcoin Cash. The two currencies were technically incompatible, causing the price of Bitcoin to plummet severely. [Extended Information] 1. Many novice investors are often attracted by the high profits of Bitcoin and cannot control the invested funds well. It is recommended that you measure your funds more comprehensively before investing, including education, medical care, etc. After important investments have flowed out, the remaining idle funds can be considered to be included in the field of Bitcoin investment, and you can choose to seize the entry opportunity based on the market conditions. This can effectively avoid the all-or-nothing gambling mentality, control the cost of investment, and avoid losses caused by risky investments. 2. Skill 2. Stay firm and don’t be half-hearted. Investing in Bitcoin is a protracted battle. Because of its unique characteristics, Bitcoin’s long-term bullishness only requires time. Therefore, when the market trend chart and technical operating system show that the market has short-term market fluctuations, investors need to remain rational and patient. They do not have to follow the majority of people to buy or sell. Instead, they should choose to stick to it and believe in the long-term value of Bitcoin. 3. Tip 3. Choose a suitable trading platform. When buying Bitcoin, choosing a suitable trading platform is crucial to success. As a veteran who has been in the currency circle for a long time, the following points are my personal experience in choosing a Bitcoin trading platform for many years, for reference only: Platform Reputation and technical strength; how much registered capital the platform has; how professional the platform’s team is; the current transaction volume and number of people on the platform; and how quickly the platform’s funds arrive. 4. In order to avoid risks to the greatest extent, the first thing to do when trading Bitcoin is the Ouyi trading platform. 5. Bitcoin is based on decentralization, using peer-to-peer network and consensus initiative, open source code, and using blocks. Chain, as a virtual cryptocurrency with underlying technology, was proposed by Satoshi Nakamoto in 2008 and was born in 2009. The biggest difference from other virtual currencies is that its total quantity is very limited and it has scarcity. 6. Unlike all currencies, Bitcoin does not rely on the issuance of a specific currency institution. It is generated through a large number of calculations based on a specific algorithm. The Bitcoin economy uses a distributed database composed of many nodes in the entire P2P network to confirm and record all transactions. behavior, and uses cryptographic design to ensure the security of all aspects of currency circulation.7. The global financial crisis broke out in 2008. On November 1, 2008, a person calling himself Satoshi Nakamoto released the Bitcoin white paper "Bitcoin: A Peer-to-Peer Electronic Cash System" on the P2P Foundation website. Stated his new vision for electronic currency-Bitcoin was born. On January 3, 2009, the Bitcoin genesis block was born. On January 5, 2009, Bitcoin, which was not controlled by the central bank or any financial institution, was born. Bitcoin is a digital currency that consists of a series of complex codes generated by a computer. New Bitcoins are created through a preset program. As the total number of Bitcoins increases, the rate of new currency creation slows down until 2140. Reaching the total cap of 21 million. (5) When a comprehensive ban on virtual currency transactions was carried out, companies in the virtual currency industry chain were cancelled, and currency prices plummeted. The "clarion call for action" for a comprehensive ban on virtual currency transactions was sounded by Beijing! According to news released by the Business Management Department of the People's Bank of China on July 6, recently, the Beijing Local Financial Supervision and Administration Department, together with the Business Management Department of the People's Bank of China and relevant departments of the Huairou District Government, took action against a Beijing-based company suspected of providing software services for virtual currency transactions. Cultural Development Co., Ltd. (hereinafter referred to as "Tao Dao Culture") has been cleaned up and rectified, and the company has been ordered to cancel its official website. This is the first time that local financial regulatory authorities have shut down a company suspected of providing software services for virtual currency transactions. It is also considered to be the implementation stage of a comprehensive domestic ban on virtual currency transactions. Not long ago, the relevant departments of the People's Bank of China interviewed some banks and payment institutions and clarified that banks and payment institutions are not allowed to provide products or services such as account opening, registration, trading, clearing, and settlement for related activities. The 51st meeting of the Financial Affairs Commission of the State Council pointed out that it is necessary to crack down on Bitcoin mining and trading activities and resolutely prevent individual risks from being transmitted to the social sector. Experts interviewed said that domestic virtual currency has entered a stage of comprehensive supervision from the production link to the circulation link. The disorderly speculation and brutal development of virtual currencies have eroded national monetary sovereignty, disrupted economic and financial order, and seriously endangered national financial security. Virtual currency has the characteristics of decentralization and anonymity. If there is no strong supervision, it will provide convenient conditions for cross-border money laundering and terrorist crimes.The sharp rise and fall in prices have intensified the turbulence of the financial market and may induce systemic financial risks. Virtual currency rectification is increasing. Recently, the Beijing Municipal Local Financial Supervision Bureau, in conjunction with the Business Management Department of the People's Bank of China and relevant departments of the Huairou District Government, have cleaned up and rectified the Daodao culture suspected of providing software services for virtual currency transactions, and solemnly warned: Relevant institutions within the jurisdiction are not allowed to provide software services for virtual currencies. Related business activities provide services such as business premises, commercial displays, marketing publicity, and paid traffic diversion. Financial institutions and payment institutions within the jurisdiction shall not directly or indirectly provide customers with virtual currency-related services. Industrial and commercial information shows that Waydao Culture was established on April 13, 2016, and was briefly deregistered on June 18, 2021. It was registered in Huairou District, Beijing, with a registered capital of 3 million yuan, and was 100% owned by the legal representative Gong Wei. Holding shares, its subsidiaries include Maoli.com, Maoli Cloud, Maoli Gaogao, Xiaoxiao Entertainment, Ziwu Qingran and other websites, which are suspected of providing software services for the virtual currency "Maoli Coin" transactions. Beijing's financial regulatory authorities are cleaning up and rectifying companies suspected of providing software services for virtual currency transactions, which is a true reflection of the country's comprehensive ban on virtual currency transactions. Not long ago, the relevant departments of the People's Bank of China interviewed some banks and payment institutions such as Industrial and Commercial Bank of China, Agricultural Bank of China, China Construction Bank, Postal Savings Bank of China, Industrial Bank and Alipay on the issue of services provided by banks and payment institutions for virtual currency transaction speculation. Before banning financial institutions and payment institutions from providing virtual currency-related services, the blockade of virtual currency exchanges and "mines" has also been launched. Following the ban on Weibo accounts, keywords such as the virtual currency exchange "Huobi", "Binance" and "okex" were banned from the Internet and Weibo in early June. Previously, in mid-May 2021, three industry associations issued announcements, reaffirming that activities such as the exchange of legal currency and virtual currency and the exchange between virtual currencies, the provision of information intermediaries and pricing services for virtual currency transactions, violated relevant laws and regulations, and Suspected of illegal fund-raising, illegal issuance of securities, illegal sale of tokens and other criminal activities. The 51st meeting of the Financial Affairs Commission of the State Council pointed out that it is necessary to crack down on Bitcoin mining and trading activities and resolutely prevent individual risks from being transmitted to the social sector.Subsequently, Xinjiang, Yunnan, Sichuan and other places successively closed down virtual currency “mining” projects. According to the experts interviewed, the comprehensive ban on virtual currency transactions in China is mainly to block the transmission of virtual currency risks. One is market risk. The scale of virtual currencies such as Bitcoin entering the trading market is limited, which can easily create an illusion for investors that there is a "rare commodity to live in" and can easily be influenced and controlled by a small number of institutional investors or individuals. In particular, the rise of group “mining” can easily lead to large institutions or organizations acquiring Bitcoin, thereby manipulating the Bitcoin market and price. The second is transaction risk. Many investors often have the mentality of getting rich overnight. The trading leverage is usually enlarged to 5 times or even higher, and the trading risks are huge. Amid the huge market turmoil, a large number of highly leveraged investors were “liquidated” instantly. In addition, the problem of "difficulty in withdrawing cash" of virtual currencies has become increasingly apparent in 2019. The third is technical risk. Whether the anti-risk ability of the virtual currency trading platform can match the rapid increase in transaction volume, whether the blockchain and other technologies it relies on can withstand the test of security, etc. are all practical issues faced by the virtual currency trading market. There have been incidents where security vulnerabilities were exploited by hackers on multinational Bitcoin trading platforms, resulting in the loss of Bitcoins hosted on the platform. The fourth is compliance risk. Due to the characteristics of virtual currency such as high anonymity and decentralized issuance, it is not only completely separated from the real economy, but also more likely to become a tool for illegal and criminal activities such as money laundering, drug trafficking, smuggling, and illegal fund-raising. Not only is the transaction not protected by law, it also touches the legal bottom line. and red lines. Bitcoin derivatives and "air coins" are full of Ponzi schemes and various lies. Zeng Zheng pointed out that in the past few years, virtual currency has been used as an alternative investment. Its anonymity has made it a tool for telecommunications fraud, casino opening and other crimes or cross-border money laundering crimes by illegal persons, which has seriously undermined the stability of my country's market economic order. In essence, virtual currencies may also impact sovereign currencies. In order to protect the sovereignty of digital currencies and enhance the competitiveness of the RMB in the global monetary system, the existing virtual currency system must be strengthened to prevent financial risks. Pan Helin pointed out that in the past few years, virtual currency has generated a wave of bubble speculation around the world, and many overseas financial institutions have participated in it. However, virtual currency does not have guaranteed properties and prices are highly volatile, which may eventually lead to virtual currency The bubble bursts.Once the virtual currency bubble bursts, risks will be transmitted to financial institutions. Our country has taken action to ban virtual currency transactions precisely to block the transmission of virtual currency risks, prevent problems before they occur, and practice the principle of financial prudence. Affected by the comprehensive domestic ban, the price of Bitcoin has recently hovered around US$35,000, which is close to halving from the price of more than US$60,000 in April this year. Along with the sharp decline in the price of Bitcoin, virtual currencies such as Ethereum, Binance Coin, Ripple, Dogecoin, and Litecoin have also fallen. In fact, virtual currency plummets have become the norm. On May 19, Bitcoin once fell below $40,000 per coin, and the price reached the low of the previous three months. As Bitcoin plummets, the cryptocurrency market as a whole is experiencing a sharp decline. As of 14:05 on May 19, 2021, Ethereum has fallen by 15.98% in 24 hours, Litecoin has fallen by 11.76% in 24 hours, and Dogecoin has fallen by 11.76% in 24 hours. The drop reached 16.31%... Previously, around 6:00 on May 13, the price of Bitcoin experienced a rapid decline, hitting a low of $45,500, a drop of more than $10,000 from the day's high, and a 24-hour drop of nearly 15.29%. Ethereum fell by more than 10%, and Ripple fell by more than 17%. The recently popular Shanshiba Inucoin once fell by more than 40% in 24 hours, and Dogecoin (DOGE) fell by 17%. Earlier on the morning of April 23, Bitcoin fell below $50,000 for the first time since March 8. Then at 15:59 that day, Bitcoin fell below $48,000. On the morning of April 18, Bitcoin plummeted by nearly $8,000 within an hour, an intraday drop of more than 15%. Every Bitcoin flash crash also drives a collective plunge in virtual currencies. When Bitcoin fell below the $50,000 mark, Ripple fell more than 15%, and Ethereum fell more than 9% to around $2,253. While Bitcoin plummeted 15% on the day, Ethereum plummeted 20%, Binance Coin plummeted 17%, Ripple plummeted 26%, Dogecoin plummeted 19%, and Litecoin plummeted 28%. Dong Ximiao pointed out that compared with general investment products, virtual currencies such as Bitcoin are speculative, speculative, and volatile. Due to the immature trading market and imperfect regulatory rules, virtual currency trading risks are extremely high. Especially in an emerging economy like China, where there is a lot of room for improvement in the financial market and investor literacy, it is not only necessary but also urgent to strengthen virtual currency supervision with strict measures. Dong Ximiao suggested that in the next step, our country should improve laws and regulations, take targeted measures, and carry out centralized rectification activities for virtual currency mining and trading activities. At the same time, investor education should be further strengthened and improved, the pertinence and effectiveness of education should be enhanced, and ordinary investors' ability to identify and prevent risks of virtual currencies should be improved. The public should fully understand the nature and risks of virtual currencies such as Bitcoin, withstand the temptation, protect their wallets, and not participate in any form of trading or speculation activities. In addition, our country should strengthen international regulatory cooperation, share regulatory information, and solve many problems in cross-border supervision of virtual currencies. ㈥ What’s going on with Bitcoin’s plunge? A few days ago, the price of Bitcoin just broke through the $3,000 mark, setting a new all-time high. However, it subsequently plummeted by more than 30%. As of the 16th this week, Bitcoin's market value has evaporated by US$10 billion, almost equal to the US$12 billion market value of social software Twitter (Twitter). Other reasons for the plunge include a plunge in U.S. technology stocks and investment banks' bearish view on Bitcoin. Morgan Stanley said that "virtual currencies are like currencies in the Wild West" and need to be controlled before they can continue to rise. Previous price surges may have been caused by speculation and the difficulty of selling. ㈦ How many times has Bitcoin experienced a plunge so far? Bitcoin has experienced at least 11 plunges since it attracted public attention. The most recent time was in November last year, when Bitcoin was panic-sold by the public in one trading day. At one time, the price plummeted 14% during the session, which was the largest decline in the past year. plummet

Internet technology has led the transformation of every industry in the world. At present, the Internet has had a profound impact on people's communications, commerce, finance and other aspects. People can buy clothes without going to the mall, and online shopping has become the norm. There is no need to transmit information face to face, and a phone call can handle it all. Even the meals that are necessary for life do not need to be cooked or bought out. With the catering APP, delicious food can be delivered directly to your home with just a click.
The progress of Internet technology has indeed brought more and more convenience to human society, but at the same time, there are also many disadvantages. For example, WeChat, which is well known to everyone, is a chat tool that can also be used for payment. You only need to bind a bank card. Now many people have some habits in their lives, putting the red envelopes or transfers they receive in the change instead of withdrawing them to the bank card. So is it really safe to put them here? What if the account is blocked one day? WeChat goes bankrupt? Or the funds are lost? And a series of problems arise.