Golden Morning Post | Musk: I firmly believe in cryptocurrency

Headline

▌Musk: I firmly believe in cryptocurrency

Golden Finance reported that Tesla CEO Elon Musk tweeted: "To be clear, I firmly believe in cryptocurrencies, but Bitcoin cannot drive a substantial increase in the use of fossil fuels, especially coal."

Market

As of press time, according to Huobi global data:

The latest transaction price of BTC is 49212.86 US dollars, with an intraday increase and decrease of -0.87%;

The latest transaction price of ETH is 3660.39 US dollars, with an intraday increase and decrease of -2.32%;

The latest transaction price of BCH is 1208.78 US dollars, with an intraday increase and decrease of -1.67%;

BSV's recent transaction price was $309.40, with an intraday increase or decrease of -1.61%;

The latest transaction price of EOS is 10.28 US dollars, with an intraday increase and decrease of -1.59%;

Golden Morning | Overview of important developments overnight on August 5: 21:00-7:00 Keywords: Sberbank, US SEC, Lebanon

1. Sberbank of the Russian Federation is considering issuing stablecoins.

2. The US SEC is seeking smart contract tracking tools that can discover security vulnerabilities.

3. A huge explosion occurred in the capital of Lebanon, and the cause is currently unknown.

4. The price of spot gold broke through $2,000 for the first time in history.

5. The total number of tokens anchored to BTC on the Ethereum chain reached 20,422.

6. Sichuan will promote the construction of new information infrastructure focusing on blockchain.

7. Grayscale’s total assets under management reached USD 5.4 billion.

8. The three major stock indexes in the U.S. stocks all closed up, and the blockchain concept stocks in the U.S. stocks generally closed down.

9. The participation rate of Medalla, the Ethereum 2.0 multi-client test network, has exceeded 80%. [2020/8/5]

The latest transaction price of LTC is 308.16 US dollars, with an intraday increase or decrease of -0.49%;

The latest transaction price of DOT is 39.68 yuan, with an intraday increase and decrease of +0.65%.

Golden Noon News | List of important developments at noon on December 30: 7:00-12:00 Keywords: People's Daily, USDT, taxation, filing, criminal risk

1. People's Daily published an article "Digital Currency, How Much Do You Know" today.

2. The OTC price of USDT fell to 6.92 yuan, a new low recently, with a premium rate of about -1%.

3. South Korea’s Ministry of Planning and Finance: plans to tax cryptocurrencies by amending the tax law.

4. The Ethereum Muir Glacier hard fork is expected to take place on January 2.

5. Former staff of the Procuratorate: People in the currency circle are most likely to be involved in the five major criminal risks such as theft.

6. US SEC Commissioner: The SEC alone cannot solve the issue of cryptocurrency regulation and may need the support of Congress.

7. Ripple CTO: Ripple has never relied on selling XRP to run the company.

8. There are more than 33,000 blockchain companies nationwide with industrial and commercial filings.

9. Hainan Daily: Blockchain has become one of the top ten theoretical buzzwords in Hainan. [2019/12/30]

Policies

▌U.S. Congressman Urges Clearer Accounting Standards for Digital Assets

Golden Morning News | South Korea: No plan to issue central bank digital currency Half-monthly talk: Be wary of the comeback of "leek harvesters": 1. People's Daily: China is pushing for independent innovation of blockchain technology, but still faces many challenges.

2. Bank of Korea: There are currently no plans to issue a central bank digital currency (CBDC).

3. Bitcoin’s segregated witness usage rate reached 58.27%, an increase of nearly three times compared to the end of August.

4. Half-month talk: While the blockchain is favored, we must be wary of the comeback of the "leek harvester".

5. Shenzhen Business Daily: Virtual currency speculation will be included in Shenzhen's local financial key supervision.

6. People's Court News: Beware of "Blockchain" becoming "Blockchain Fraud", using the name of "Blockchain" to defraud people of money is not only despised by people, but also prohibited by the law.

7. Xinhuanet: Don’t misrepresent the sutra of the blockchain. The blockchain cannot become a “gimmick” for hype or a “signboard” for deception. The development of the blockchain should not be caught up in eagerness for quick success and quick money. wrong way.

8. Shen Danyang, Vice Governor of Hainan: Targeted development safeguard measures will be formulated for blockchain and so on.

9. V God: The stateless model of Ethereum 2.0 can enhance security. [2019/11/25]

On May 12, seven members of the U.S. Congress wrote a letter urging the Financial Accounting Standards Board to establish clearer guidelines for digital assets.

News | Golden Finance survey confirms that "SEC approves bitcoin ETF news" as April Fool's Day news: After Jinse Finance investigation, the Financemagnates website, which first released the news of "SEC suddenly approved the issuance of Bitcoin ETF", has changed the headline of the news to confirm that "Bitcoin ETF Coin ETF passed" this news is April Fool's Day news. (The picture below is a comparison screenshot of the news before and after the Bitcoin surge)[2019/4/2]

Blockchain Application

▌Federal Reserve Governor: The Federal Reserve is spending time on central bank digital currency

Fed Governor Waller said: "The Fed is spending time on the central bank's digital currency, and it is not clear that we have identified the problems it will solve."

▌BoE Governor: Digital currency will have an impact on interest rate setting

Bank of England Governor Bailey said that if there is a reason to use a digital currency, we will act. Digital currencies will have an impact on interest rate setting. Digital currencies are still a few years away, and privacy is a big issue with digital currencies.

Jin Yan, Chief Economist of the World Blockchain Organization live report Jin Yan: Any cryptocurrency separated from the real economy will become a scam: Golden Finance live report, at the 2018 World Blockchain Technology Expo, Chief Economist of the World Blockchain Organization Scientist Jin Yan gave a live speech. He pointed out: Although we have all heard stories about the blockchain, few people really understand the blockchain. The blockchain has data layers, network layers, consensus layers, incentive layers, contract layers, and application layers. within the structure. Blockchain technology is a brand new market. As of October last year, more than 70% of bitcoin mining was in China, and more than 70% of cryptocurrency transactions were also in China, creating a new industry for the Chinese. Any virtual currency will become a scam if it is separated from the real economy. The current industry is divided into: currency circle, chain circle, mining circle, leek circle, and Mongolian circle. Scams and wealth are the same. [2018/4/22]

▌Naver, the largest search-zce engine and portal in South Korea, will participate in the Bank of Korea’s digital currency project

Market news: South Korea's largest search-zce engine and portal site Naver will participate in the Bank of Korea's digital currency project.

Cryptocurrency

▌Musk: Working with Dogecoin developers to improve transaction efficiency

Golden Finance reported that Tesla CEO Elon Musk tweeted: "Working with Dogecoin developers to improve system transaction efficiency. Potential hope."

▌Ethereum Market Cap Ratio to Bitcoin Market Cap Doubled Over the Past Year

Jinse Finance reported that Pantera Capital, a cryptocurrency investment company, stated that in the past year, the ratio of the market value of Ethereum to the market value of Bitcoin has doubled. Ethereum now accounts for 19.2% of the total cryptocurrency market cap, while Bitcoin’s dominance has dropped to 40.7%.

▌Coinbase’s first-quarter net income reached $771.5 million

Jinse Finance reported that Coinbase released its first quarterly earnings report as a listed company, which is basically in line with the initial announcement released early last month. Among them, the net income was 771.5 million US dollars, and the previous preliminary estimate was 730 million to 800 million US dollars. Adjusted EBITDA (earnings before interest, taxes, depreciation, and amortization) was $1.12 billion, compared with a preliminary estimate of $1.1 billion. Earnings were $1.8 billion, including $1.54 billion in trading revenue. Trading revenue from institutions grew from $10 million in Q1 2020 to $85 million in Q1 2021. Additionally, Coinbase raised its annual MTU (monthly transacting users) forecast range to a range of 5.5 million to 9 million, up from a previous range of 4 million to 7 million. After the financial report was announced, the cryptocurrency exchange Coinbase fell more than 2% after hours.

▌Coinbase plans to list Dogecoin in the next 6-8 weeks

Golden Finance reported that Coinbase CEO Brian Armstrong said in the company's first-quarter earnings conference call that Coinbase plans to provide Dogecoin transactions in the next 6-8 weeks. Armstrong said Coinbase is changing its process for listing tokens to include newly minted digital assets. In the future, the company will start listing so-called “initial offerings” of cryptocurrencies that have just been minted, and will see their first-day trading volumes.

▌Renaissance Technologies held $140 million in crypto mining stocks as of the first quarter

Jinse Finance reported that quantitative fund manager Renaissance Technologies increased its investment in the cryptocurrency ecosystem in the first quarter, accumulating the largest crypto mining stock position ever. As of the end of March, its holdings of mining stocks were worth more than $140 million. These included 1.16 million Riot Blockchain shares ($61.8 million), 1.56 million Marathon shares ($75 million), and 203,672 Canaan shares ($4.2 million).

▌Coinbase CEO: Meeting with policymakers in Washington this week

The CEO of cryptocurrency exchange Coinbase said it will meet with policymakers in Washington this week.

▌Bloomberg strategist: Although Tesla suspends bitcoin payments, bitcoin is still worth buying

Golden Finance reported that Mike McGlone, a commodity strategist at Bloomberg, said that Musk's concern that Bitcoin may be detrimental to the environment is not enough to destroy the potential for further price rises of the cryptocurrency. Tesla’s moratorium on Bitcoin payments doesn’t shake our argument that cryptocurrencies are in an early age of price discovery and becoming a global digital reserve asset in a world of accelerating digitization and electrification. He thinks Bitcoin is still worth buying.

▌Binance is under investigation by the US Department of Justice and the Internal Revenue Service

Trading platform Binance is under investigation by the U.S. Department of Justice and Internal Revenue Service. Officials investigating money laundering and tax violations have sought information from individuals with deep knowledge of Binance’s business as part of the probe, the people said. The person spoke on condition of anonymity because the investigation is confidential.

Key Economic Developments

▌Fed Governor: Will not raise interest rates until inflation is above target for a long time

Fed Governor John Waller said that the GDP growth rate in the second quarter is expected to be as high as 8%. The Fed needs to see inflation overshoot its target for some time before reacting. Inflation is expected to exceed 2% this year and next, before returning to target. If you see 4% inflation every month, you will be very worried. The Fed will not raise rates until inflation is above target for a prolonged period.

▌Fed Barkin: Don't think inflation will continue to repeat

The Fed's Barkin said that he does not think inflation will continue to fluctuate.

Golden Encyclopedia

▌What is a multi-signature private key?

Multi Signature (Multi Signature) refers to the need for multiple keys to authorize a Bitcoin transaction, which is usually used to define the ownership of Bitcoin. In a traditional Bitcoin account, each address in your Bitcoin address has a corresponding private key, which can be called a "single-signature transaction" because only one signature is required for the transfer - from the private key associated with the Bitcoin address the owner.

Therefore, if an address can only be signed and paid by one private key, the form of expression is 1/1; while the form of multi-signature is m/n, that is to say, a total of n private keys can sign an account, and when m When an address signs, a transaction can be paid for. Therefore, m must be less than or equal to n.

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