Golden Morning Post | The preliminary comment period for VanEck ETF application has ended, whether it is approved or will be decided next month.

Headline

▌Federal Reserve Kaplan: Bitcoin is a store of value

Fed Kaplan says Bitcoin is a store of value but fails the money test.

▌Lakala: Currently has the ability to fully accept digital RMB transactions

Lakala officially stated that it has completed the construction of the digital renminbi acceptance system, and has connected with digital renminbi operating agencies and started business cooperation. It currently has the ability to fully accept digital renminbi transactions and ensure a good user experience.

Market

As of press time, according to Huobi global data:

BTC's recent transaction price was US$58,147, with an intraday increase or decrease of -0.21%;

The latest transaction price of ETH is 2068.55 US dollars, with an intraday increase and decrease of +0.36%;

Golden Noon News | A list of important developments at noon on August 25: 7:00-12:00 Keywords: digital renminbi, Filecoin, Columbia, Aave

1. Director of the Monetary Policy Department of the Central Bank: There is currently no specific launch timetable for the digital renminbi.

2. Filecoin official: The first bug has been found.

3. Diancun Technology: Nodes suffered a large number of DDOS attacks after qualifying.

4. Columbia University professors will conduct research on the Ethereum EIP-1559 proposal.

5. Bitmain and its two holding companies established a new company in Tianjin Free Trade Zone.

6. Unofficial nodes: t01101 and t01102 appeared for the first time on the Filecoin big miner test list.

7. After the adjustment of the difficulty of the Bitcoin network, BTC.com returned to the number one position in the Bitcoin mining pool.

8. The DeFi protocol Aave has been granted an Electronic Money Institution License by the UK FCA.

9. YfvFinance: Users need to stop staking YFV in the current stakingpool and withdraw funds. [2020/8/25]

BCH's recent transaction price was US$631.50, with an intraday increase or decrease of -1.06%;

Analysis | Golden disk: KNC/BTC prices continue to fall: Golden disk comprehensive analysis: KNC/BTC From the daily K-line, it is a long way to go. Amount transfers may explain the reason for the continued sharp drop in prices. At present, although there is a rebound, the trend has not yet turned more, and caution is required. [2018/8/18]

The latest transaction price of BSV is 258.47 US dollars, with an intraday increase and decrease of -2.53%;

EOS recently traded at $6.207, with an intraday change of -0.10%;

The latest transaction price of LTC is 220.91 US dollars, with an intraday increase and decrease of -1.39%;

DOT's recent transaction price was $40.73, with an intraday change of +0.41%.

Golden Relativity丨Lin Yunzhu, co-founder of Xstar Exchange: The incentive mechanism should take into account the sense of participation: In this issue of Golden Relativity, when talking about "incentives are part of community governance, what should be considered for good incentives?", Xstar Exchange jointly Founder Lin Yunzhu said that when it comes to incentives, I think the sense of participation should be taken into account, not just monetary benefits. In fact, many people in the Decentralization community do not expect to increase their income by participating in community activities, mainly because they can make their voices heard. [2018/7/1]

The recent transaction price of FIL was 172.21 US dollars, with an intraday increase and decrease of +0.54%.

Policies

▌The US SEC began to review the WisdomTree Bitcoin ETF

The U.S. Securities and Exchange Commission (SEC) announced on Friday that it has begun a review of WisdomTree’s bitcoin ETF trust fund. WisdomTree first applied for such an ETF last month. WisdomTree previously tried to launch a regulated cryptocurrency financial product.

Jinse Finance’s exclusive analysis that blockchain is not a panacea: Today, the chairman of the CoinDesk Advisory Committee said that blockchain cannot solve Facebook’s problems. This is because the current blockchain technology cannot meet the needs of high-frequency data circulation. To meet the needs of high-frequency data circulation, blockchain technology is not able to perfectly solve the data leakage incidents faced by Facebook, because in the case of decentralization, each distributed node plays a role in data storage and The total power consumption of processing is higher. It can be seen that blockchain is not applicable to any industry and field. [2018/4/12]

▌VanEck ETF application preliminary comment period has ended, whether it is approved or not will be decided next month

The VanEck Digital Asset ETF application has been under review for several weeks, with its initial comment period closing on Friday. As of press time, there are only 5 reviews. Regulators are expected to make a preliminary decision next month on whether to approve VanEck's application. It is reported that if VanEck's ETF application is approved by the US SEC, this ETF will become the first open bitcoin exchange trading product in the United States.

Cryptocurrency

▌HSBC online trading platform has banned the purchase of MicroStrategy shares

HSBC customers can no longer buy MicroStrategy shares (MSTR) on its online trading platforms HSBC InvestDirect or HIDC, while HSBC has instructed users who already own MicroStrategy shares not to buy additional shares. The blacklisting of MSTR is just the latest in HSBC’s recent anti-crypto campaign, but other companies with significant Bitcoin investments such as Tesla, Hut 8 Mining, and Square are still listed on the HIDC transaction directory.

▌The annual order batch of Antminer S19j Pro will open next week

Bitmain will start selling a batch of annual orders for the Antminer S19j Pro next week: ordering customers will receive a batch of S19j Pro every month from August 2021 for a period of one year. The computing power of S19j Pro is as high as 100 TH/s, the energy efficiency ratio is as low as 29.5 J/TH, and the expected life cycle will exceed 5 years.

▌Ripple CTO: NFT strategy is being formulated NFT and other functions should run on the side chain

Ripple’s chief technology officer, David Schwartz, said the company is currently working on an NFT strategy. He added that based on observations, people care very little about the underlying technology and only care about the NFT itself and the user experience. Schwartz said the priority for the XRP Ledger is to preserve its strength as a payment mechanism. With this in mind, other functions (be it CBDC, NFT, DeFi, etc.) should run on sidechains separate from the main chain. In this way, the payment function of XRP will remain unchanged and unaffected. Additionally, Schwartz warned that NFTs may be a fad, but it’s too early to tell.

Key Economic Developments

ING Bank: The dollar is still in a bear market overall

The dollar's rise this year is just a rebound in a bear market, providing a good trading opportunity for dollar bears. Most major currencies, including the euro and sterling, were boosted by the prospect of a recovery in the global economy as the global vaccination effort rolls out, evidenced by a broad sell-off in bonds. The future economic recovery superimposed on the modest rise in commodities is expected to benefit the Australian and New Zealand dollars. In addition, stocks and commodities are expected to benefit from a weaker dollar.

Golden Encyclopedia

Grid trading method: from Shannon, the father of information theory. One day in the 1940s, Shannon demonstrated on the blackboard: buy 50% of the funds at any price, that is to say, the amount of funds: stock market value = 50%: 50%. If the stock price rises by a certain amount, sell some of the stocks and keep the remaining funds: remaining stock market value = 50%: 50%; otherwise, if the stock price falls by a certain amount, use the remaining funds to buy part of the stocks, and always maintain the remaining funds: remaining Stock market value = 50%: 50%. Using this method to deal with the random movement of stock prices, long-term trading is profitable.

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