author: Lanna evening, thematic map from: Vision China
On October 25th, one of the most luxurious cruise ships on the Huangpu River, the Blue Princess, welcomed a group of special guests.
On this cruise ship known as “one of the most beautiful waterscapes under the bustling night of Shanghai Bund”, more than 100 representatives from many blockchain entrepreneurial projects gathered to attract them. It is the scenery on both sides of the Huangpu River, but an award ceremony called “Global Blockchain Fashion Night”.
In the words of the organizer, “This is the first gown luxury fashion feast in the blockchain industry. Technology, fashion, and art have sparked a dazzling spark.” After nearly a year of cold, the currency circle finally We have ushered in a long-lost carnival.
On the day before the awards ceremony, the blockchain was announced by the state as an important breakthrough for independent innovation of core technologies. At the same time, it focused on the main direction, increased investment, focused on a number of key core technologies, and accelerated the promotion of blockchain technology. And industrial innovation and development.
The theme of this collective study is “the status and trends of blockchain technology development.” The news immediately went to the headlines of the “News Network” report and the next day’s People’s Daily. It is believed that the central government has adjusted the future development and significance of the blockchain from the policy level.
As usual, the capital market once again moved, and more than 100 stocks in the entire A-share blockchain sector ushered in a wave of ups and downs.
But the difference is that listed companies are not the only participants in this carnival. After the good news of the blockchain was released, the players of the coin circle rushed to tell each other, as if they got the name, which brought the later award ceremony.
After the award ceremony, Sun Yuchen sent Weibo to say 20In the 13 years since the beginning of the promotion of blockchain technology, it was the earliest practitioners in China, and even later he was promoted as “the currency circle Ren Zhengfei.” In addition, Xu Xing is hard to hide in the circle of friends. “Who will dare to say that the blockchain is a scam afterwards.”
There is not a long time. Three days later, the People’s Daily once again wrote that “blockchain technology innovation is not equal to speculating virtual currency. It should prevent the use of blockchain to issue virtual currency and speculate on air currency.” /strong>
A pot of cold water splashing down, in addition to clear blockchain and virtual currency is not the same thing, through the past two years of changes in the currency circle, we see more of a naked, Magnified human exposure field.
“Rounds of Ren Zhengfei”, “Banker Du Jun” and God-making Movement
If you want to choose a protagonist for the currency, then the best option is undoubtedly the ones who have taken the opportunity to go to the altar. In just a few short years, they have made a name for themselves in the currency circle. It seems that they have broken the heart of the rich road of many domestic speculators, and they have once become the investment gods of the latter. /p>
The beginning of the story also needs to start from the blockchain. There are many definitions of blockchains. The recognized advantages are that the stored information data is safe, real and non-tamperable. There are also huge storage space, huge energy consumption and extremely low data recording rate. Pain points.
The first product of the application of blockchain technology was Bitcoin, which was born in 2008. In November 2013, the US government held a hearing to recognize the legal status of Bitcoin for the first time. Bitcoin began to break the niche circle and stepped into the broader perspective of investors.
In 2017, Bitcoin ushered in a big rise, rising from $997 at the beginning of the year toAt the peak of over 20,000 US dollars, by the end of the year, bitcoin prices still reached as high as 13,810 US dollars, an increase of nearly 1400%.
The reason for this surge in Bitcoin is still unclear. The taste of bubbles and money has attracted a large number of speculators, ambitions and scammers. They are grouped under the banner of the blockchain, and the currency circle is on the scene. Pull it apart.
The air coin has appeared.
The first-in-class players created the ICO(first token release) gameplay, which mimicked the IPO of the IPO of the company’s initial public offering. Raise activities to attract social funds to spur the virtual currency they publish.
ICO’s financing body is usually a piecemeal team, making a website, and then publishing a so-called “white paper” to start financing.
Nearly all of the virtual coins are no different from air coins.
According to the survey data of Coinmarketcap, before 2017, domestic ICO projects only had a total of5, only 8 new ones were added in the first four months of 2017. In the first three months of 2018, there were 187 new virtual currencies for ICO. At the time, not only 90% of the bitcoin transactions took place in China, but the top 2, 3 and 4 platforms of the global cryptocurrency exchange were all Chinese platforms.
With the emergence of a variety of virtual currency, many previously unknown people have turned into a so-called coin circle and began a vigorous god-making movement.
At the time of the madness, some projects don’t even need to be written in white papers. Through various channels to promote and find people’s platforms, as long as the money-making effect of the soaring new currency is formed, it can attract retail investors to follow suit. Gloves white wolf.
The PressOne project initiated by Bitcoin’s richest man, Li Xiaolai, has no white papers and has raised hundreds of millions of dollars in just 20 minutes.
Li Xiaolai smashed the first pot of gold by teaching and selling books in his early years. In 2013, The Wall Street Journal published a report on the Chinese bitcoin market, which pointed out that Li Xiaolai is one of the most holders of bitcoin in China.
In the same year, Li Xiaolai founded the Bit Fund. After several years, he won the support of more than 100,000 audiences by getting the “Way of Wealth and Freedom” in the column. From publishing, starting classes, making investments to frequently participating in ICO projects, Li Xiaolai became a Spread the godfather and forerunner of the freedom of wealth.
Compared with Li Xiaolai’s high profile and well-known, Du Jin, the founder of Golden Finance, the founding partner of Node Capital, and the co-founder of Firecoin.com, did not match their position in the currency circle.
Du’s experience in his early years was even more confusing. There were few reports about him in the media. One thing that can be confirmed is that he relied on the reselling domain name to make a home, and he was exposed to the Internet and Bitcoin, thus becoming an early entry point for the virtual currency. One.
It is also different from Li Xiaolai’s fight in the first-line speculation. Du Jun’s road to the top is even more concealed. The node capital invests and promotes the project ICO. The Golden Finance participates in advocacy, and the hot money online is sold at a high price or short-selling— – Under such a complete chain of speculative coins, Du Jun does not even need to personally act, and can enjoy the huge profits of the entire chain as a shareholder.
Sun Yuchen is perhaps the youngest “coin circle”. In 2013, Sun Yuchen contacted Ripple, the publisher of Ripple, and became the chief representative of Ripple Greater China. After some twists and turns, he won a number of honorary titles, and then “touch porcelain” Ma Yun and other business gangs for their own hype propaganda, no matter how bad name, the popularity in the circle is finally started.
In 2017, Sun Yuchen released the wave currency. From mid-December 2017, it took about half a month to raise the price from 1, 2 cents to 2 yuan. The price of the currency soared 100 times, and the overall market value exceeded 14 billion. The US dollar ranks among the top ten in the world in terms of blockchain market value. Sun Yuchen immediately sold 6 billion wavefield coins, and a wave of cash was $300 million.
Li Xiaolai made such a comment in private. “Let’s go and see Sun Yuchen. The market value of the trough is up to 14 billion US dollars. Who knows who is going to squat? To what extent? Know that he is a liar, youI am embarrassed to marry him, afraid that others will be foolish. After Sun Yuchen learned of the incident, not only did he not have a smashed shackle, but he tweeted that “I heard that I was lying in the middle of the gun.”
In the end, driven by these great gods, the speculators are crazy about whatever white papers, no matter what the currency, as long as they see the money, they will save money and the website of the exchange will be caught. Those who have speculative coins invest 5,000 to earn more than a million, and then suddenly lose their positions back to zero overnight.
On September 4, 2017, seven ministries including the three-member conference, the Internet Information Office, the Ministry of Industry and Information Technology, and the State Administration for Industry and Commerce have jointly issued the “Announcement on Preventing the Risk of Subsidy Issuance Financing”, calling for ICO financing. .
But it doesn’t help, the road is one foot high, and Mogao is one foot. Once the players have set up the server to the outside world, the wave of interest in the air currency circle has not stopped, and the darkness still remains.
Tulip bubble, dying after madness
In the early 17th century, tulips flowed into the Netherlands as an ornamental flower, and speculators began to hoard a lot of tulip bulbs for the price to rise. Under the advocacy of public opinion, people quickly showed a pathological admiration and enthusiasm for tulips, and began to compete for tulip bulbs.
In one year, tulip prices have risen 59 times, and the sellers have begun to sell in large quantities. The price of tulips has plummeted, and tens of thousands of people have gone bankrupt because of investment in tulips. In the end, the Dutch government came forward to terminate all contracts prohibiting related transactions before it completely solved the economic bubble.
The earliest financial speculation recorded in human history has also become an economic term to show all speculation in human society since then.
The frenzy of the currency circle is not the reproduction of the tulip bubble?
The facts quickly prove that there are no physical projects to support, no authoritative organization endorsement, no real technology support, and only a little “value” can constitute a new financial fraud routine:
The banker borrows the name of the blockchain to carry out the air currency. Through the celebrity platform, hotspot hype, marketing touting, etc., the early currency price rises, and then the shipping money runs in one go, leaving the cut amaranth. The retail investors are messy in the wind.
Before the introduction of the regulatory policy, Li Xiaolai had a lot of ICO projects directly involved, and there are countless ICO projects with his endorsement relationship in the Mingli dark platform. Of course, most of the projects are after the skyrocketing and plunge. Li Xiaolai denied that there is a direct connection.
In July last year, a recording of a private conversation by Li Xiaolai was exposed. In this recording, Li Xiaolai not only admits that his investment is to do the network red, speculation concept, will fool and engage in the community, but also commented on several currency circles and their projects:
“All said privately, I can’t go out and say, I was the first to give him (Shuaichu, Qtum founder) selling air coins People, we sold him six months of air coins. Otherwise he has today.
Why does the Litecoin rise? The final explanation is very simple. It is too much silly. The consensus value, the consensus of Silly X is also a consensus.
After the ICO project was suspended by the seven ministries in September 2017, the ICO project issued by the domestic exchange broke the rate of more than 95%, and the price of some air coins fell even more than 99%. The price of crowdfunding on the day of the listing pushed up, and the phenomenon of selling the road on the next day was not uncommon.
August 24, 2018, China Banking Regulatory CommissionThe five ministries and commissions, including the Central Network Information Office, the Ministry of Public Security, the People’s Bank of China, and the General Administration of Market Supervision, jointly issued the “Risk Tips on Preventing Illegal Fund Raising in the Name of “Virtual Currency” and “Blockchain”.
This announcement directly defines the virtual currency as “not really based on blockchain technology, but rather speculative blockchain concept illegal fundraising, pyramid schemes, fraud.”
The plustoken that was exposed in June this year is a typical example. The virtual currency wallet, which was established in April last year, involves more than 20 billion cryptocurrencies and more than 1 million users.
It not only sets a large difference in the handling fee for the 28-day time threshold, but also realizes the fund mode of “You want my interest, I want your principal”, and the development of the downline. The reward gameplay, through the founding, great god, big coffee, big family four, users can get a huge reward of up to 1.5 million US dollars.
This method of asking users to pay the fees to obtain the qualifications, and calculating and paying the online rewards based on the development of multi-level offline, based on the performance of each level of offline, has undoubtedly constituted a pyramid scheme.
There are also a large number of virtual coins that are listed and broken, which have been investigated by the public security organs for suspected fraud. For example, on January 15 last year, it was claimed to be the world’s first heroic chain of gaming game platforms supporting digital cryptocurrency. The online line broke, from the issue price of 0.6 yuan directly to 0.05 yuan, a drop of more than 90%, and soon was public security. The agency investigated the case for suspected fraud.
Although the five ministries issued new instructions, the Golden WeChat, the fire currency information, the cannon rating, the currency world news service, the deep chain finance and so on, a large number of the WeChat public number of the head currency media were blocked. The surviving blockchain media has transformed financial media and sought to survive in a low-key manner.
The cryptocurrency exchanges that did not set up the server rack overseas were almost completely annihilated and closed. With the high pressure of supervision