Last Friday, bitcoin broke down again. In three days, BTC started to break through several important barriers from $6,700, falling to a minimum of $5,667, and currently rebounded to a shock near $6,000. In the face of the plunge, the voice of doubt began to clamor again, and various conspiracy theories and negative controversies have repeatedly impacted the beliefs of the small scattered.
So far, the number of bitcoin "deaths" has far exceeded 300. According to statistics, the price of bitcoin at the 300th "death" was $7312.87, compared with the bitcoin's 200th "death" in December last year. The price is $11,000. As of June 5, Bitcoin has "dead" 62 times in 2018. Bitcoin died in 2017, 2016, 2015, 2014, 2013, 2012, 2011 and 2010 respectively 118 times, 28 times, 39 times, 29 times, 16 times, 1 time, 6 times and 1 time.
Since the birth of Bitcoin, the voice about its decay has not been broken, and it was even worse last year and this year.
"Bitcoin is already a good rat poison, and the cryptocurrency will have a bad ending"-Buffett
"I think that even stopping to think about bitcoin is a very stupid act; bitcoin is a crazy bubble, a bad idea, they use the concept of getting rich easily without too much insight or work to attract others. "-Charlie Munger (Buffett's golden partner)
"As an asset, it cannot produce anything, so people who buy it should not expect it to rise. This is purely a "Bosi" investment. If I can, I will short Bitcoin." - Bill Gates
Bitfinex spam USDT. Was the $20,000 a fake bull market?
In 2014, Bitfinex's chief strategy officer Philip Potter and chief financial officer Giancarlo Devasini established the Tether company in the British Virgin Islands and issued a stable digital currency USDT with a 1:1 anchored dollar. By reading the white paper, you can find that Tether's issuance process can be summarized as:
The user deposits fiat currency into a prescribed bank account;Tether officially generates a new token and records its registration in the user's USDT account, the amount of USD deposited by the user
Equal to the amount of USDT obtained;
The token enters circulation and users can use it freely for transactions;
Token recovery, users request to exchange Tethertoken to fiat currency
Tether destroys the token and sends the fiat currency to the user's bank account.
Most cryptocurrencies have a limited supply of tokens, but Tether does not. It is driven by user demand. Whenever a user purchases USDT in fiat currency, new coins will be issued. However, by querying the transfer records between Tether and Bitfinex, it can be found that every time Tether issues a new token, it is almost always sent to Bitfinex's wallet in the form of large integers, which makes it not look like an investor. Our direct purchase behavior.
The biggest problem with Tether is that it should be like a US dollar digital currency (that is, every 1 USDTtoken is issued, its bank account will have a fund guarantee of 1 US dollar), but it is not the case, Tether can always be issued, and used to support Bitcoin The price is already issued by Tether worth hundreds of millions of dollars.
Since the end of last year, Tether has been under suspicion. Every time more Tether is issued, it will return to the market again. The problem is that this injection is not real money.
Dilemma
"I don't want to talk anymore. It's cool to blow on the top of the mountain! What are you doing here on such a hot day, come to the top of the mountain, it's cool."
"My cloud production is about to go back to zero. It's too miserable. There are 40,000 and 18,000 left. I pretend to be dead, and I don't know what to buy now."
"It's all cut, and mainstream coins are cut."
"The stock also fell miserably, and the currency market also fell miserably. The World Cup TM's football is also a mixed ball. It's a sad day!"
"Coolness, rebound shipment, no longer playing."
"There will be more bargains, dead bear!"
"Radical Fixed Investment"
The above ideas are currently representative retail psychology. There are self-deprecating people. This kind of mentality is not bad, which shows that although the assets have shrunk severely, they are still calm and optimistic; there are dazed people who don’t know where to go; some are desperate and ready to leave the market;
Facing the rapid rise of digital currency and blockchain, what is Wall Street doingJP Morgan's bitch Dimon. When the bull market started last year, JP Morgan's Dimon sent the company to bargain-hunting while lowering the bitcoin price. He also did four other disgusting things. The first thing was that when the financial crisis broke out in 2008 and Lehman Brothers went bankrupt, he privately spread rumors that his rival Goldman Sachs was running out of funds and encouraged investors to run against Goldman Sachs. If Goldman Sachs collapsed at that time, the entire US economy might collapse. This is called self-interest ruining the overall situation. The second thing was that during the occupation of the Wall Street movement, a donation of US$5 million was made to the New York Police Fund. As a result, when the New York police came out to maintain order, they were extremely "spirit" and stick to the meat. The third thing is that he indulged his own mess, leading to the infamous "London Whale" incident, and then successfully dumped the pot to the staff. The fourth thing, while hacking Bitcoin and copying the bottom, spared no effort to report the patent 175 times, and wanted to own the Bitcoin technology, which was rejected by the US Patent Office every time.
Goldman Sachs, Morgan Stanley, JP Morgan, and Barclays Bank have all started to dip in bitcoin last year. With their capital volume, it was impossible to fully lay out in a fast bull market last year. To get enough time and space to complete the layout, the current large-scale shocks, forcing retail investors to hand over chips, is a very common method.
"Blockchain Finance" and "Financial Blockchain", the domination of finance and blockchainHere can be compared with the previous "Internet Finance". The previous Internet finance was to bypass the "two big wolf dogs" and solve the situation that the financial industry would only suck blood and strangle the physical industry. When the Internet financial system is dominated by Internet companies, the result is the rise of Alipay and WeChat. Ma Yun said that he did it at the risk of jail. Traditional finance accuses the IoT financial system of impacting financial stability. Of course, it is not known whether this system has impacted financial stability, but it certainly has impacted the stability of the bank’s income statement. Dominated by the financial industry.
And if it is dominated by the financial industry, it will definitely castrate new technologies and new ideas, such as blockchain, it is best to clean up the revolutionary changes of blockchain technology to the social ecology, and try to transform blockchain technology into one. A simple tool to reduce costs and improve efficiency, to facilitate the financial industry to better suck blood. So when the financial industry dominated the blockchain, there was R3's chainless and currencyless, and IBM's chainless and currencyless.
What is the blockchain with coins? An airplane with its own fuel, like a solar airplane, can recharge itself without the support of an external power source. The terrible thing about the blockchain is that once bitcoin is used as a basic financing tool, all kinds of physical enterprises can be financed and developed through bitcoin-priced financial instruments, and according to the development situation, the market passes To evaluate the price of your own token, to reward and punish the achievements of the enterprise. In the middle of this process, the financial industry is irrelevant and becomes insignificant, huh, huh. This is the key to Assi's "impact" on financial stability. Then if the financial industry dominates and the built-in financial engine is strangled by regulation, then the financial industry can be optimized in terms of cost reduction and efficiency improvement while maintaining the current strong position of sucking blood. Sounds good. The problem is that if other people's countries are dominated by technology and generate new technology finance models, it's like driving a train with an internal combustion engine and bumping into your optimized carriage. At that time, your sword and spear were beautifully painted. Flower shelf.
Under the impact of blockchain technology and philosophy, Goldman Sachs and Morgan Stanley have been actively transforming from financial companies to high-tech companies. Many senior and core technical personnel of JP Morgan chose to leave JP Morgan and join the blockchain enterprise. It’s already clear how the propeller of the warm river blowing the duck is.
Wall Street's entry and trillions of leverageWall Street's entry into the digital currency has actually already begun. Last year's bitcoin futures contract can be regarded as an iconic event, and this year there will be more signs and actions. Supervision can be seen as clearing the way.
According to coinmarketcap data, after a few months of decline, the current market size of the digital currency market is only 0.25 trillion US dollars. Compared with the foreign exchange market, gold market, global stock market, the size of the digital currency market is almost negligible. If the funds in the traditional financial market are tilted slightly and the allocation of digital currency assets will detonate the entire digital currency market.
At present, the digital currency market scale is 250 billion US dollars, and the volume of BTC is 105 billion US dollars. To double the volume of the digital currency market to 500 billion US dollars, you only need to double the lead big brother BTC to achieve it, because the younger brothers will follow rise. With Wall Street's trading methods and influence, if you want to double the market value of BTC, you may only need 1/10 of the funds, which is $10.5 billion. If Wall Street brings 1 trillion or 10 trillion dollars into the market, how much will the volume of digital currency expand and how much will BTC rise?
But Wall Street and traditional financial institutions have entered the market in a big way, which does not mean that the bull market of digital currency will come soon. On the contrary, there may be a wave of bear markets. When they enter the currency market, it will be a slow penetration process, because there must be enough time to plunder, concentrate chips, compete for the right to speak, and wash out the "disruptors" by the way. Fortunately, the cycle and rhythm of the digital currency market are much faster than that of the stock market. Compared with the stock market's frequent bull cycle of seven or eight years, the currency market can be completed in one or two years.
As the bottom of the food circle of the currency circle, retail investors are the easiest to be harvested. In the current grim situation, what we have to do is not to blindly chase up and down, but to design a set of effective investment strategies and logic for ourselves, without arming our brains and strategies, how to arm with teeth Of investment institutions compete on the same stage.
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