Phases of market obsession

What is obsession? It is defined as a mental illness characterized by extreme excitement, euphoria, delusions and hyperactivity. In investing, this translates into investment decisions driven by fear and greed without diminishing analysis, cause, or equilibrium outcomes of risk and rewards. The obsession usually runs in parallel with the business development of the product, but the timing can sometimes be skewed.

The boom in the late 1990s and the cryptocurrency boom today are two examples of how the real-time craze works. These two events will be highlighted with each stage in this article.

The idea stage

The first stage of obsession begins with a great idea. The idea is not known to many people yet, but the profit potential is enormous. This usually translates as unlimited profit, because “something like this has never been done before.” The Internet was one of these cases. People using paper-based systems at the time were skeptical of “How could the Internet replace such a familiar and well-established system?” The backbone of the idea begins to build. This translated into the modems, servers, software, and websites needed to turn the idea into something tangible. Investments in the idea stage start pale and are made by “knowledgeable” people. In this case, these might be the visionaries and the people working on the project.

In the world of cryptocurrencies, the same question arises: How can a piece of cryptocurrency replace our monetary system, contract system, and payment systems?


The first websites were rudimentary, limited, slow, and annoying. The skeptics were looking at the phrase “information superhighway” that dreamers were shouting and saying, “How can this really be useful? The forgotten element here is that ideas start at their worst and then evolve into something better and better. This happens sometimes because of it.” Better technology, higher volume and cheaper costs, better applications of the product in question, or familiarity with the product along with great marketing. On the investment side, early adopters are starting to enter, but there is no euphoria and astronomical returns yet. In some cases, the investments have yielded good returns, This is similar to the slow internet connections of the 1990s, website crashes or incorrect information in search engines. In the world of cryptocurrencies, this is seen as high costs of coin mining, slow transaction times, and piracy or account theft.


Word begins to reveal that this internet and “.com” is the hot new thing. Products are created and tangible, but due to the sheer volume involved, the cost and time spent would be enormous before everyone else could use it. The investment side of the equation begins to move forward in business development as the markets discount business potential at the investment price. Euphoria is starting to show, but only among early adopters. This is happening in the world of cryptocurrencies with the explosion of new “alternative digital currencies” and the massive media press that space gets.


This stage is dominated by the rewards and rewards that the Internet provides. Little thought has been given to implementation or problems because “the returns are huge and I don’t want to miss them”. The words “irrational exuberance” and “obsessive” are starting to spread because people buy out of sheer greed. Negative and negative risks and great neglect. Obsessive symptoms include: Any company with a name by its name is very red, analysis is thrown out the window in favor of optics, investment knowledge dwindles among newcomers, and you expect 10 or 100 returns from Bagger. Generic and few people already know how the product works or doesn’t work. This was shown in the cryptocurrency world with the stellar returns in late 2017 and company stock incidents that featured hundreds of percentage points using “blockchain” in their names. There are also “reverse takeover offers” wherein the names of fictitious, listed but dormant companies are changed to something that includes the blockchain, and shares are suddenly actively traded.

Collapse and burn

The business landscape is changing for the new product, but not as quickly as the investment landscape. Ultimately, a shift in mindset appears and a massive sell-off begins. The volatility is enormous, and many “weak hands” have disappeared from the market. Suddenly, analysis is used again to justify that these companies have no value or are “overrated”. Fear spreads and prices race down. The companies that are not winning are living on the hype and the future prospects fade away. Increasing fraud and fraud incidents are exposed to take advantage of greed, causing more fear and stock selling. Companies with the money quietly invest in the new product, but the rate of progress slows down because the new product is an “ugly word” unless profits are convincingly demonstrated. This is starting to happen in the cryptocurrency world with cryptocurrency foldable lending schemes and larger coin theft incidents. Some marginal currencies collapse in value due to their speculative nature.


At this stage, the investment scene is filled with stories of losses and bad experiences. Meanwhile, the great idea is getting tangible and for the companies that use it, it’s a breakthrough. It begins to take effect in daily activities. The product begins to become the standard and insights are cited in saying that the “information highway” is real. The average user notices an improvement in the product and starts mass adoption. Companies with a true profit strategy take a beating during the crash and burn phase, but if they have the money to survive, they get to the next wave This hasn’t happened in the cryptocurrency world yet. The expected survivors are those with a tangible business case and corporate support – but it remains to be seen these companies and coins.

Next wave – business picks up hype

At this point, the new product is the standard and profits become evident. The feasibility study is now based on profits and scope rather than idea. A second wave of investment appears, starting with these survivors and extending into another early stage of obsession. The next stage was marked by social media companies, search engines, and online shopping that are all derivatives of the original product – the Internet.


Obsession works in a pattern that plays in a similar fashion over time. Once one gets to know the stages and the thought process of each stage, it becomes easier to understand what is going on and investment decisions become more clear.

Is cryptocurrency the future of money?

What will the future of money look like? Imagine you are entering a restaurant and looking for the digital menu board in your favorite mixed meal. Only, instead of $ 8.99, it shows as.009 BTC.

Could crypto really be the future of money? The answer to this question hinges on the general consensus on several key decisions ranging from ease of use to safety and regulations.

Let’s examine both sides of (digital) currency and compare traditional fiat money and cryptocurrencies.

The first and foremost component is trust.

It is imperative that people trust the currency they are using. What gives the dollar its value? Is it gold No, the dollar has not been supported by gold since the 1970s. Then what gives the value of the dollar (or any other fiat currency)? Some countries’ currencies are more stable than others. In the end, people have confidence that the government issuing that money is firmly behind it and is essentially guaranteeing its “value”.

How does trust work with Bitcoin because it is decentralized in the sense that it is not a governing body that issues coins? Bitcoin is located in the blockchain and is basically an online ledger that allows the whole world to view every transaction. Each of these transactions is verified by miners (the people who operate computers on a peer-to-peer network) to prevent fraud and also ensure that there is no double-spending. In exchange for their services in maintaining the integrity of the blockchain, miners receive a payment for every transaction they verify. With countless miners trying to make money, every one checks each other’s work for errors. This evidence of business process is why the blockchain has never been hacked. Basically, it is this trust that gives Bitcoin the value.

Next, let’s look at the trust’s closest friend, Security.

What if my bank is robbed or there is fraudulent activity on my credit card? My bank deposits are covered by FDIC insurance. It is also possible that my bank will waive any charges on my card that I have never held. This does not mean that criminals will not be able to perform stunts that are at least frustrating and time-consuming. It’s the somewhat peace of mind that comes from knowing that I will most likely be healthy from whatever mistake I am against.

In cryptography, there are a lot of options when it comes to where to store your money. It is imperative to know if transactions are secured to protect you. There are reputable exchanges like Binance and Coinbase that have a proven track record of debugging their clients. Just as there are fewer reputable banks around the world, the same applies to cryptocurrencies.

What happens if you throw a twenty dollar bill into a fire? The same applies to cryptocurrencies. If I lose my login credentials to a specific digital wallet or exchange, I will not be able to access these coins. Again, I cannot emphasize enough the importance of running a business with a reputable company.

The next issue is scaling. Currently, this may be the biggest hurdle preventing people from doing more transactions on the blockchain. When it comes to transaction speed, paper money moves much faster than cryptocurrencies. Visa can handle around 40,000 transactions per second. Under normal circumstances, the blockchain can only handle about 10 per second. However, a new protocol is enacted that will increase speeds of up to 60,000 transactions per second. Known as the Lightning Network, cryptocurrencies could make money the future of money.

No conversation would be complete without talking about comfort. What do people usually like about their traditional banking and spending methods? For those who prefer cash, it is clearly easy to use most of the time. If you are trying to book a hotel room or rent a car, you need a credit card. Personally, I use my credit card everywhere I go because of the convenience, the safety, and the rewards.

Did you know that there are companies that offer all of this in the crypto space as well? Monaco is now issuing Visa cards with the logo that automatically converts your digital currency into the local currency on your behalf.

If you ever try to transfer money to someone you know, this process can be very tedious and expensive. Blockchain transactions allow a user to send encryption to anyone in just a few minutes, regardless of where they live. It is also much cheaper and safer than sending a wire transfer.

There are other modern methods of transferring money that are found in both worlds. Take, for example, apps like Zelle, Venmo, and Messenger Pay. These apps are used by millions of millennials every day. Did you also know that they are starting to incorporate cryptography as well?

The Square Cash app now includes Bitcoin, and CEO Jack Dorsey said, “Bitcoin, for us, doesn’t stop at buying and selling. We believe this is a transformative technology for our industry, and we want to learn as quickly as possible.”

“Bitcoin provides an opportunity to reach more people of the financial system,” he added.

While it is clear that compulsory spending continues to dominate the way most of us move money, the nascent cryptocurrency is fast gaining ground. Evidence is everywhere. Prior to 2017, major media coverage was difficult to find. Now, almost every major business news outlet covers Bitcoin. From Forbes to Fidelity, they all weigh their opinions.

What is my opinion? Perhaps the biggest reason Bitcoin is so successful is that it is fair, inclusive, and gives financial access to more people around the world. Large banks and institutions see this as a threat to their very existence. They are about to be on the losing end of the largest transfer of wealth the world has ever seen.

Still hesitating? Ask yourself this question: “Do people trust governments and banks more or less with each passing day?”

Your answer to this question may be what determines the future of money.

International cryptocurrency regulations will create win-win situations

the background

ICO on blockchain platforms painted the world red for tech startups around the world. The decentralized network that can assign tokens to users who simultaneously support an idea with money is revolutionizing and giving it away.

Profit-taking bitcoin turned out to be the “asset” of early investors offering multiple returns in 2017. Investors and cryptocurrency exchanges around the world took advantage of the opportunity to spell out massive returns for themselves which led to the rise of many online exchanges. Other cryptocurrencies like Ethereum, Ripple, and other ICOs promise better results. (Ethereum grew more than 88 times in 2017!)

While ICOs landed millions of dollars in the hands of startups within days, ruling governments initially chose to monitor the fastest development in fintech ever that had the potential to raise millions of dollars within a very short period of time.

Countries around the world are considering regulating cryptocurrencies

But regulators have become wary because the technology and its underlying effects have gained popularity as ICOs have begun to contemplate billions of dollars in funds – this too on proposed plans written in white papers.

In late 2017, governments around the world seized the opportunity to intervene. While China has banned cryptocurrencies altogether, the US Securities and Exchange Commission has highlighted the risks to vulnerable investors and suggested treating them as securities.

A recent cautionary statement issued by SEC Chairman Jay Clayton in December warned investors that:

“Please also be aware that these markets span across national borders and that significant trading may occur on systems and platforms outside of the United States. Your invested money may rapidly move abroad without your knowledge. As a result, risks can be exaggerated, including market risks that regulators may not be able to do. , Such as the Securities and Exchange Commission, from tracking bad actors or effectively recovering funds. “

India’s concerns followed, with Finance Minister Aaron Gaitley saying in February that India does not recognize cryptocurrencies.

A circular request sent by the Central Bank of India to other banks on April 6, 2018, from banks to sever ties with companies and exchanges involved in trading or dealing in cryptocurrencies.

In Britain, the FCA (Financial Conduct Authority) announced in March that it had formed a cryptocurrency task force and would be receiving assistance from the Bank of England to regulate the cryptocurrency sector.

Different laws, tax structures across countries

Cryptocurrencies are mainly coins or tokens launched on a crypto network and can be traded globally. While cryptocurrencies have roughly the same value around the world, countries with different laws and regulations can offer varying returns to investors who may be citizens of different countries.

Different laws of investors from different countries can make calculating returns cumbersome and cumbersome.

This will include the investment of time, resources and strategies that lead to unnecessary elongation of operations.

The solution

Instead of many countries formulating different laws for global cryptocurrencies, there should be a constitution for a unified global regulatory authority with laws that apply across borders. Such a move would play an important role in boosting legal digital currency trading operations around the world.

Organizations with global goals such as UNO (United Nations Organization), World Trade Organization (WTO), World Economic Forum (WEF) and International Trade Organization (ITO) are already playing an important role in uniting the world on different fronts.

Cryptocurrencies were formed with the basic idea of ​​transferring money around the world. They have a fairly similar value across exchanges, except for the arbitrage that is negligible.

Having a global regulatory authority to regulate cryptocurrencies around the world is the need of the hour and may set global rules to regulate the latest method of financing ideas. Currently, every country is trying to regulate virtual currencies through legislation, which is being drafted.

If economic superpowers, along with other countries, can build consensus on introducing regulatory authority with laws that know no national borders, this would be one of the biggest achievements toward designing a cryptocurrency-friendly world and promoting the use of one of the most transparent financial technologies. Order ever blockchain.

A global regulation consisting of subsections related to cryptocurrency trading, returns, taxes, penalties, KYC procedures, laws on exchange and penalties for illegal breaches can provide us with the following: Advantages.

  1. It can make calculating profits very easy for investors around the world, as there would be no difference in net profits due to standardized tax structures.

  2. Countries around the world may agree to share a certain portion of the profits as taxes. Therefore, countries ’share of taxes collected will be uniform across the world.

  3. It could save time in forming various committees, drafting bills followed by discussions in the legislative arena (such as Parliament in India and the Senate in the United States).

  4. One does not need to be subject to strict tax laws in every country. Especially those who are involved in the multinational trade.

  5. Even companies offering tokens or ICOs will comply with said “international law”. Therefore, calculating income after taxes will be a bun march for companies

  6. The global structure may require more companies coming up with better ideas, and thus more business opportunities around the world.

  7. The law may be assisted by an international watchdog or a global currency regulator, which may have powers to blacklist an ICO offering that does not adhere to the standards.

Not all of the advantages, when it comes to a law governing cryptocurrencies around the world. There are some Negatives As well.

It could take a long time to unite the world’s financial leaders to meet and formulate a law. Discussions and reaching consensus can be difficult

  1. Countries or economies that provide tax-free structures may not agree to accept a law that provides for a comprehensive tax policy

  2. Global regulators or regulatory authority interference in monitoring ICO-related regulatory developments may not go well with some countries

  3. Global law may divide the world into factions. Countries that do not support cryptocurrency like China may not be part of it.

  4. The law may be the brainchild of economically powerful states that may design it to suit their best interests.

  5. This law will be a central law with a global regulatory body unlike cryptocurrencies of a decentralized nature.


The world together was for the better. Whether it’s for building a peaceful world after World War II, or working together for better trade laws and treaties.

The International Trade Organization (ITO), the World Trade Organization, and the World Economic Forum have some of the best minds defining the global economy.

They can come together and be part of a body that defines the economic prosperity of the world. They will help shape global cryptocurrency standards and may be part of the regulatory body that will be the guide and beacon for thousands of ICOs around the world for the better. At first, this might take a long time, but it will make things easy in the coming times.

Crypto Trend – Fifth Edition

As we expected, since Crypto TREND was published, we have received many questions from our readers. In this edition we will answer the most common question.

What kind of upcoming changes could be a game-changer in the cryptocurrency sector?

One of the biggest changes that will affect the world of cryptocurrencies is an alternative method of block validation called Proof of Stake (PoS). We will try to keep this interpretation at a fairly high level, but it is important to have a conceptual understanding of what is the difference and why it is such an important factor.

Remember that the core technology of digital currencies is called blockchain and most of today’s digital currencies use a verification protocol called Proof of Work (PoW).

With traditional payment methods, you need to trust a third party, such as Visa, Interact, a bank or check clearing house, to settle your transaction. These trusted entities are “centralized,” which means they maintain their own ledger that stores the transaction history and balance of each account. They will show the transactions to you, and you must agree that they are correct, or launch a dispute. Only the parties to the deal ever see her.

With Bitcoin and most other digital currencies, ledgers are “decentralized,” which means everyone on the network has a copy, so no one has to trust a third party, such as a bank, because anyone can directly verify the information. This verification process is called “distributed consensus.”

PoW requires that “work” be done in order to validate a new transaction to enter the blockchain. With cryptocurrencies, validation is done by “miners”, who must solve complex algorithm problems. As problems with algorithms become more complex, “miners” need more expensive and more powerful computers to solve problems before anyone else. Often “mining” computers are specialized, usually using ASIC (Application Integrated Circuits) chips, which are more adept and faster at solving these difficult puzzles.

This is the process:

  • Transactions are grouped together into a “block”.
  • Miners verify that transactions within each block are legitimate by solving a hashing algorithm puzzle, known as “Proof of Work Problem”.
  • First miner solving a block’s “proof of business problem” is rewarded with a small amount of cryptocurrency.
  • Once verified, transactions are stored in the public blockchain across the entire network.
  • As the number of transactions and miners increases, so too does the difficulty of solving hash problems.

Although PoW has helped get the blockchain and unreliable decentralized digital currencies onto the ground, it has some real shortcomings, especially with the amount of electricity these miners consume in an effort to solve ‘proof of business problems’ as quickly as possible. According to Digiconomist’s Bitcoin Energy Consumption Index, Bitcoin miners use the energy of 159 countries, including Ireland. As the price of each bitcoin rises, more and more miners are trying to solve problems, consuming more energy.

All this energy consumption just to validate transactions has spurred many in the cryptocurrency space to search for an alternative method of block validation, and the main candidate is a method called ‘Proof of Stake’ (PoS).

PoS is still an algorithm, the purpose of which is the same as in proof of work, but the process for reaching the goal is completely different. With POS, there are no miners, but instead we have “checkers”. PoS is based on trust and knowledge that all the people who verify transactions have a good look in the game.

This way, instead of using energy to answer PoW puzzles, the PoS auditor is limited to validating a percentage of transactions that reflect its ownership stake. For example, a validator with 3% of available ether could theoretically validate only 3% of blocks.

In PoW, your chances of solving a proof of business problem depend on how much computing power you have. With PoS, that depends on how much cryptocurrency you have on the “stake”. The higher your stake, the higher your chances of resolving the block. Instead of winning cryptocurrencies, the winning auditor receives transaction fees.

Auditors enter their stake by “locking” a portion of their fund’s tokens. If they try to do something malicious against the network, such as creating an “invalid block,” their stake or security deposit will be forfeited. If they do their job and don’t violate the grid, but don’t win the right to validate the ban, they’ll get their share back or say goodbye.

If you understand the basic difference between PoW and PoS, this is all you need to know. Only those who plan to be miners or auditors need to understand all the entrances and generalities of the two validation methods. Most of the general public who want to own cryptocurrencies will simply buy them through the exchange, and will not be involved in the actual mining or validation of block transactions.

Most of those in the crypto sector believe that for cryptocurrencies to survive in the long term, digital tokens must transform into the POS model. At the time of writing this post, Ethereum is the second largest digital currency after Bitcoin and their development team has been working on a PoS algorithm called “Casper” for the past few years. We expect to see Casper in 2018, putting Ethereum ahead of all other large cryptocurrencies.

As we have seen previously in this sector, major events like the successful implementation of Casper could drive Ethereum prices up a lot. We will keep you updated on future releases of Crypto TREND.

Stay tuned!

Cryptocurrency: Fintech is disabled

Blockchains, sidechains, mining – the terms accumulate in the secret world of cryptocurrencies in minutes. Although it seems implausible to introduce new financial terms in an already complex financial world, cryptocurrencies offer a much-needed solution to one of the biggest inconveniences in the money market today – transaction security in the digital world. Cryptocurrency is a definite and turbulent innovation in the fast-moving world of advanced technology, and it is a response closely related to the need for a secure medium of exchange in the days of virtual transactions. When trades are just numbers and numbers, cryptocurrency suggests doing just that!

In its most primitive form of the term, cryptocurrency is a proof of concept of an alternative virtual currency that promises secure, anonymous transactions through interconnected peer-to-peer networks over the Internet. Misnomer is more of a property than an actual currency. Unlike everyday money, cryptocurrency models operate without central authority, as a decentralized digital mechanism. In the distributed cryptocurrency mechanism, the funds are issued, managed, and approved by the collective community peer network – its ongoing activity is known as Mining On a peer machine. Successful miners also receive coins in recognition of their time and resources used. Once used, transaction information is broadcast to the blockchain in the network under a public key, preventing each coin from being spent twice by the same user. The blockchain can be thought of as a cashier’s registry. The coins are secured behind a digital wallet that is protected with a password that represents the user.

The supply of currencies in the world of cryptocurrencies is a pre-determined matter, free from manipulation, by any individual, institution, government entities, or financial institutions. The cryptocurrency system is known for its speed, as transaction activities via digital wallets can generate funds within minutes, compared to a traditional banking system. It is also largely irreversible by design, which reinforces the idea of ​​anonymity and removes any other chances of tracing funds to their original owner. Unfortunately, notable features – speed, security, and anonymity – have also made cryptocurrencies the transactional method for many illegal trades.

Just like the real-world money market, currency rates fluctuate in the cryptocurrency ecosystem. Due to the limited quantity of coins, as the demand for the coin increases, the value of the coins inflates. Bitcoin is the largest and most successful cryptocurrency to date, with a market capitalization of $ 15.3 billion, it captures 37.6% of the market and is currently valued at $ 8,997.31. Bitcoin hit the currency market in December 2017 by trading at $ 19,783.21 per coin, before facing the sudden drop in 2018. This drop is partly due to the rise in altcoins such as Ethereum, NPCcoin, Ripple, EOS, Litecoin and MintChip.

Due to cryptocurrencies on their supply, cryptocurrencies are considered to follow the same principles of economics as gold – the price is determined by limited supply and fluctuations in demand. With continuous fluctuations in exchange rates, its sustainability has yet to be seen. Thus, investing in virtual currencies is currently more speculative than the daily money market.

In the wake of the Industrial Revolution, this digital currency is an indispensable part of the technological disruption. From the point of view of an informal observer, this hike may appear exciting, threatening and mysterious all at once. While some economists remain skeptical, others see it as a lightning bolt of the money industry. On the conservative side, digital currencies will replace nearly a quarter of national currencies in developed countries by 2030. This has already created a new asset class alongside the traditional global economy and a new set of investment tools will come from crypto finance in the coming years. Recently, Bitcoin may have stepped back into the spotlight on other cryptocurrencies. But this does not indicate any collapse in the cryptocurrency itself. While some financial advisors focus on the role of governments in clamping down on the secret world of organizing the central governance mechanism, others insist on the continuation of the current free flow. The more popular cryptocurrencies are, the more scrutiny and regulation they attract – a common paradox that corrupts the digital note and weakens the primary purpose of its existence. Either way, the lack of middlemen and oversight made them remarkably attractive to investors and caused the day to day trade to drastically change. Even the International Monetary Fund (IMF) fears that cryptocurrencies will replace central banks and international banking services in the near future. After 2030, the cryptocurrency supply chain will dominate regular trade, which will provide less friction and more economic value between technically skilled buyers and sellers.

If the cryptocurrency aspires to become a fundamental part of the current financial system, it will have to meet widely differing financial, regulatory and societal standards. It needs to be piracy-resistant, consumer-friendly, and deeply protected to deliver its essential benefits to the prevailing monetary system. It should maintain the anonymity of the user without being a conduit for money laundering, tax evasion and online fraud. Since these things are essential to the digital system, it will take another few years to understand whether the cryptocurrency will be able to compete with real-world currency by leaps and bounds. While this is likely to happen, the cryptocurrency’s success (or lack of it) in facing challenges will determine the fortunes of the monetary system in the coming days.

Preparing for the world of Cryptocurrency: China Edition

Over the past year, the cryptocurrency market has taken a series of heavy blows from the Chinese government. The market took a beating like a warrior, but the combinations affected many cryptocurrency investors. The lackluster market performance in 2018 pales in comparison to its stellar 1,000 percent gains in 2017.

what happened?

Since 2013, the Chinese government has taken measures to regulate the cryptocurrency, but nothing compared to what was imposed in 2017. (See this article for a detailed analysis of the official notice issued by the Chinese government)

2017 was a remarkable year for the cryptocurrency market with all the interest and growth it has achieved. Extreme price volatility has forced the central bank to take more extreme measures, including a ban on Initial Currency Offerings (ICOs) and a crackdown on local cryptocurrency exchanges. Soon after, mining factories in China were forced to shut down, citing excessive electricity consumption. Many exchanges and factories moved abroad to avoid the regulations, but they remained within the reach of Chinese investors. However, they still failed to escape from the Chinese dragon’s claws.

In the latest in a series of government-led efforts to monitor and ban the circulation of cryptocurrencies among Chinese investors, China has expanded “Eagle Eye” to monitor foreign exchange operations. Companies and bank accounts suspected of transacting with foreign exchange exchanges and related activities are subject to measures from restricting withdrawal limits to account freezing. There have even been persistent rumors among the Chinese community of more extreme measures being imposed on foreign platforms that allow trading among Chinese investors.

As for whether there will be more regulatory measures, we will have to wait for orders from higher authorities. Excerpts from an interview with a team leader of the Chinese Public Information Network Security Monitoring Agency of the Ministry of Public Security, February 28

Why why why?

Imagine that your child is investing his or her savings investing in a digital product (in this case, the cryptocurrency) that he has no means of verifying its authenticity and value. He could get lucky and get rich, or lose it all when the crypto bubble bursts. Now expand that to millions of Chinese citizens and we are talking about billions of Chinese yuan.

The market is full of scams and pointless ICOs. (I’m sure you’ve heard news of people sending coins to random addresses with a promise to double their investments and simply meaningless ICOs.) Many investors unfamiliar with it for the money and will not care much about the technology and innovation behind it. The value of many cryptocurrencies is derived from speculation in the market. During the cryptocurrency boom in 2017, participate in any ICO with a popular onboard advisor, promising team or decent hype and it will guarantee you at least 3 times your investment.

A lack of understanding of the company and the technology behind it, along with the proliferation of ICOs, is a recipe for disaster. Central bank members report that nearly 90% of ICOs are fraudulent or involve illegal fundraising. In my opinion, the Chinese government wants to ensure that the cryptocurrency remains “controllable” and not too large to fail within Chinese society. China is taking the right steps towards a safer, more regulated, albeit offensive and controversial world of cryptocurrencies. In fact, it may be the best move the country has taken in decades.

Will China issue an alert and make the cryptocurrency illegal? I seriously doubt it because it is pointless to do so. Currently, financial institutions are prohibited from holding any crypto assets while individuals are permitted to undertake any form of trading, but they are prohibited from doing so.

State-run cryptocurrency exchange?

In the annual “two sessions” (named because two major parties – the National People’s Congress (NPC) and the National Committee of the Chinese People’s Political Consultative Conference (CPCC) both participate in the forum held in the first week of March, they come together to discuss the latest issues and make legal amendments. Necessary.

Wang Pingjie, a member of NPCC, has immersed himself in the prospects of a state-run digital asset trading platform as well as initiating educational projects on blockchain and cryptocurrency in China. However, the proposed platform requires a verified account to allow trading.

“ By establishing relevant regulations and cooperation between the People’s Bank of China (PBoC) and the China Securities Regulatory Commission (CSRC), a regulated and efficient cryptocurrency exchange platform will act as an official way for companies to raise funds (through ICOs) and investors to hold their digital assets and achieve an increase in Capital ‘is an excerpt from Wang Pengjie’s two-session presentation.

The march towards the Blockchain Nation

Governments and central banks around the world have struggled to cope with the growing popularity of cryptocurrencies; But one thing is for sure, they have all embraced blockchain.

Despite the crackdown on cryptocurrencies, blockchain is gaining popularity and reliance on various levels. The Chinese government supports blockchain initiatives and technology adoption. In fact, the People’s Bank of China (PBoC) was working on a digital currency and had fictitious transactions with some of the country’s commercial banks. It remains uncertain whether the digital currency will decentralize and offer cryptocurrency features such as anonymity and stability. It wouldn’t be surprising if it turned out to be just a digital RMB given that anonymity is the last thing China wants in their country. However, it has been created as a close alternative to the Chinese yuan, and the digital currency will be subject to current monetary policies and laws.

Governor of the People’s Bank of China, Zhou Xiaochuan. Source: CNBC

“Lots of cryptocurrencies have experienced explosive growth that can have a huge negative impact on consumers and retail investors. We don’t like (cryptocurrency) products that take advantage of the tremendous opportunity for speculation that gives people the illusion of getting rich overnight” excerpts from Zhou Xiaochuan’s interview Friday March.

In a media appearance on Friday, March 9, Governor of the People’s Bank of China, Zhou Xiaochuan, criticized cryptocurrency projects that took advantage of the cryptocurrency boom to capitalize on and fuel speculation in the market. He also noted that the development of digital currency is “technologically inevitable.”

Regionally, several Chinese cities are leading blockchain initiatives to boost growth in their region. Hangzhou, famous for being the headquarters of Alibaba, declared blockchain technology one of the city’s top priorities in 2018. The local government in Chengdu has also proposed to build a nursery center to boost the adoption of blockchain technology in the city’s financial services.

Local conglomerates like Tencent and Alibaba have also partnered with blockchain companies or started ventures on their own. Blockchain companies like VeChain have also secured multiple partnerships with Chinese companies to improve supply chain transparency in China.

All clues point to the fact that China is working for a blockchain nation. China has always had an open mindset on emerging technologies such as mobile payment and artificial intelligence. Going forward, China will undoubtedly be the first country to support blockchain technology. Will we see the Chinese government hold back and let its citizens trade again? Most likely, when the market matures and is less volatile but definitely not in 2018.

3 strong foundations for the world of digital currencies – cryptocurrency

Welcome to the world of “cryptography”!

Blockchain technology

– The cryptocurrency market

– The Bitcoin Payment System Treasury.

So this is the trend or you can describe it as the “world of digital currency” with a great step up in the game.

If you were avoiding bitcoin and cryptocurrencies today, you would fall into a bad hole tomorrow. It is, in fact, the present and the future of the currency that does not know how to stop steps. Since its inception to date, it grows and helps many individuals all over the world.

Be it the Blockchain for transaction logging, the Bitcoin system to handle the entire payment structure, or the Erc20 token wallet to define the rules and policies for Ethereum token – everything goes hand in hand and in the direction of the new currency ray of the world.

Sounds cool, doesn’t it?

Moreover, with the advent of this successful currency mode, many companies like to be a part of this game. In fact, it is all about helping companies or organizations get Blockchain technology or cryptocurrency hassle free with a reliable Blockchain development company. With a lot of knowledge and potential, these companies are developing this currency and playing a vital role in the digital economy.

For just a second, let’s assume the cryptocurrency won’t exist anymore, what happens?

May time be the counter-attack on your thoughts!

Bitcoin was first launched by Satoshi Nakamoto, Bitcoin was colonial and from that beginning, an innovative digital currency developed with a bunch of goodies.

So, the question that arises is – will the cryptocurrency development or the cryptocurrency development company that created it disappear or will it stay until the end?

In fact, it is not possible to predict the future, but we can say that the cryptocurrency, Erc20, Blockchain, or Bitcoin wallet Development Company will be present with the same enthusiasm and passion to lend a helping hand to the business and institutional sectors.

“Digital currency is going to be a very powerful thing,” said John Donahue, former CEO of eBay.

And it proves to be very accurate, with time creeping in.

In fact, she has some valid reasons why this concept is so successful.

Evidence of fraud:

With cryptocurrency, the blockchain is connected. Therefore, every transaction is recorded in this general ledger, to avoid any fraud. And all identities are encrypted to combat identity theft.

Erc20 takes care of all the rules and protocols, so there is no violation of rules and orders. If you’re into, don’t forget to contact developer Erc20 and have it developed to be within the rules.

You are the only owner:

There is no third party or any other assistant or there is no online system to evaluate what you do. Only you and your customer maintain a comprehensive experience. Isn’t that a cool concept?

Third, settlement is immediate and it is all between you and the seller without any further interruption. At the end of the day, it’s your call.

Easily accessible:

The Internet has made everything within easy reach. It plays an indispensable role in the cryptocurrency market or the exchange market. You will have a better option to exchange currencies instead of using the traditional and time-consuming methods. And it’s a great way to get excited about the cryptocurrency industry.

If you are a business owner and expect to welcome cryptocurrencies in your area, always start with a firm shot. Approach a trustworthy seller or discuss the development of a cryptocurrency exchange everything with all cards unlocked and then hit the ball in court.