Golden Morning Post | V God: If Bitcoin technology remains unchanged, there will be a huge risk of being eliminated.

Headline

▌V God: If Bitcoin technology remains unchanged, there will be a huge risk of being eliminated

V God, the co-founder of Ethereum, said that if Bitcoin's technology remains unchanged, then it has a huge risk of being eliminated. He also fueled the narrative by predicting that Ethereum’s market capitalization will likely surpass that of Bitcoin’s. In addition, V God said: "PoW resource consumption is undoubtedly huge. It will not destroy the world by itself, but it is definitely a significant disadvantage."

Market

As of press time, according to Huobi global data:

The latest transaction price of BTC is 40,747.11 US dollars, with an intraday increase and decrease of -1.71%;

The latest transaction price of ETH is 2770.85 US dollars, with an intraday increase and decrease of -4.73%;

The latest transaction price of BCH is 822.48 US dollars, with an intraday increase or decrease of -0.54%;

The latest transaction price of BSV is 197.72 US dollars, with an intraday increase and decrease of +1.32%;

The most recent transaction price of EOS is US$6.69, with an intraday increase and decrease of +0.26%;

The latest transaction price of LTC is 211.94 US dollars, with an intraday increase and decrease of -1.49%;

The latest transaction price of DOT is 29.05 yuan, with an intraday increase and decrease of -2.66%.

Golden hot search-zce list: XLM tops the list: According to the data of Jinse Finance and Economics rankings, in the past 24 hours, XLM topped the list. The specific top five list is as follows: XLM, BHD, MANA, HC, REN. [2020/10/18]

Policies

▌Biden plans to crack down on wealthy Americans hiding income

The U.S. Treasury Department estimates that the entire taxpayer class of the wealthy hides more than half of their income outside of salary. This conclusion will further support the administration's push for Congressional approval of the IRS' expanded reporting requirements for financings and a broad range of new financial transactions. In a report Thursday, the Treasury Department detailed the administration's planned measures to boost revenue by $700 billion over the next decade through the Internal Revenue Service. Republican lawmakers and tax analysts criticized the estimate as wildly high. The above-mentioned enforcement plan is one of the core financing sources of Biden's $4 trillion long-term economic stimulus plan. The U.S. Department of the Treasury requires that cryptocurrency transfers involving an amount of $10,000 or more be reported to the Internal Revenue Service.

▌SEC Chairman: Regulators should be ready to prosecute bad actors in fields such as encryption

According to CoinDesk on May 21, Gary Gensler, chairman of the US Securities and Exchange Commission (SEC), said on Thursday that federal financial regulators should be "prepared to prosecute" bad actors in the field of encryption and other emerging technologies. In previous news, Gary Gensler said earlier today that encrypted exchanges need more regulation, and the public will benefit from more protection provided to investors by the SEC on encrypted exchanges.

Golden Relativity | Niu Fengxuan, CEO of DappReview: Blockchain can transform the collaborative relationship between developers and players: In this issue of Golden Relativity's "Dapp Game", for Tong Yang, the content-zce partner of Golden Finance, "in addition to the gameplay, are other levels There are reasons for the outbreak”, DappReview CEO Niu Fengxuan said that the blockchain is just an additional technology and tool that we can use for games, and it does not mean that the games in the past are about to die or be subverted. Console games were born in the 1960s, and today they are still highly competitive and popular. Steam, as a distribution giant for end games, does not need listing and external financial support at all. Niche games have long been a tens of billions market and are still growing.

The term "blockchain game" is even a pseudo-concept. It was only used to refer to all games that use blockchain technology in the early days of the industry. In the end, these games still have to land on different platforms.

So, can the blockchain subvert the entire gaming industry? I don't believe it. The blockchain can transform the collaborative relationship between developers and players. It can increase the economic attributes and incentive mechanisms of the game by introducing token economy and asset tokenization. It allows players to now own a physical entity in the real world. The virtual assets in the game are owned like items. These are innovations and optimizations, not holding a banner to deny all traditional games. In the final state, for most players, the experience of blockchain implanted in the game should be indifferent, as long as the game is fun, it does not matter whether the blockchain is used or not. [2018/12/3]

▌SEC Chairman Gensler: The public will benefit from (SEC) more protection for investors on encrypted exchanges

Analysis | Golden disk: BTC/USD will test the upper track of the Bollinger Band again: comprehensive analysis of the golden disk: BTC/USD rose rapidly after the retracement, and is currently in the process of retesting the position of the upper track of the Bollinger Band. It is recommended to pay attention to the breakout situation. Only by breaking the position can the shock situation be ended. [2018/8/26]

Gensler, Chairman of the US Securities and Exchange Commission: The public will benefit from (the Securities and Exchange Commission) more protection for investors on encrypted exchanges.

▌Powell: Cryptocurrency, stable currency, etc. may bring risks to the financial system

According to Reuters news on May 21, Federal Reserve Chairman Powell said while emphasizing the rapid development of financial technology and the potential benefits involved, cryptocurrencies, stable coins and other innovations "may bring potential risks to users and the entire financial system. Powell said that as technology advances, attention must be paid to an appropriate regulatory framework, which includes a focus on private sector payments innovators who are currently outside the traditional regulatory arrangements that apply to banks, investment firms and other financial intermediaries. , Powell said that the Fed wants to ensure that central bank digital currencies can bring benefits to consumers and businesses, and pointed out: "So far, taking into account other factors, the fluctuation of the value of cryptocurrencies has not made it a convenient payment method. . "

Blockchain Application

▌Federal Reserve Chairman Powell: The Fed will release a report on US digital currency this summer

Analysis | Golden disk: qun bottomed out before the market: Golden disk analysts said: qun-btc bottomed out yesterday and rebounded today, maintaining high volatility today, and the short-term trend is stronger than btc. [2018/8/3]

Federal Reserve Chairman Powell: The Federal Reserve will release a report on U.S. digital currency this summer, and the Fed report will focus on the possibility of issuing a U.S. central bank digital currency (CBDC). Powell also said: Central bank digital currency (CBDC) can be used as a supplement, not a replacement for the cash digital dollar.

Cryptocurrency

▌Goldman Sachs CEO: Bitcoin market value will eventually be higher than gold

According to the 21st Century Business Herald on May 21, Goldman Sachs CEO David Solomon predicted that there will be "significant changes" in the field of digital currency in the next few years. As for some of the challenges facing the cryptocurrency space, he added: "We have significant regulatory constraints around us, and we play a principled role around cryptocurrencies like Bitcoin." Furthermore, Solomon believes that Bitcoin's market capitalization will inevitably match that of gold. Flat, then eventually above gold. He believes that Bitcoin is "more like gold than a digital asset for payment networks, so its value will continue to rise in the coming years.

▌Futu Holdings plans to launch cryptocurrency trading services in the United States, Singapore and Hong Kong, China

According to news from CoinDesk on May 21, Robin Li Xu, vice president of Futu Holdings (FUTU.US), said in the first-quarter earnings conference call that the company has begun to apply for "digital currency-related licenses" in the United States, Singapore and Hong Kong, China. , plans to launch cryptocurrency trading services in the second half of 2021. In addition, Robin Li Xu stated that it will not provide digital currency transaction services for users in mainland China.

Jinse Finance live report, Elaine Shi: The combination of traditional consensus and blockchain will bring about brand new changes: At the 2018 World Digital Asset Summit (WDAS) and FBG Annual Conference, Elaine Shi from Thunder said that the traditional consensus The speed of the mechanism is high. If the traditional consensus mechanism is combined with the blockchain to allow the two parties to complement each other, this will bring new changes to the traditional consensus and make the consensus more credible. [2018/5/2]

▌US SEC accuses Ripple of "misstatement" of fairness principles

According to news from AMBCrypto on May 21, the US Securities and Exchange Commission (SEC) once again asked the court to force Ripple to produce all relevant documents of the legal advice the company has sought in the past. Adding to previous arguments, the SEC has now responded to Ripple’s May 14 letter, furthering the motion to compel Ripple to hand over legal advisory papers. The SEC believes that Ripple "misrepresented" the principle of fairness by claiming that "the factual claims in its 'fairness notice' can only be assessed before reviewing privileged communications." Prior to the news on May 8, the SEC also accused Ripple of selectively refusing to disclose certain documents in order to prevent the SEC from having relevant evidence.

▌China Securities Journal: The strong supervision signal of virtual currency cannot be ignored

The China Securities Journal published an article today, "The Strong Supervision Signal of Virtual Currency Cannot Be Ignored". Previously, my country's regulatory authorities have repeatedly emphasized that any individual or exchange that provides virtual currency trading services to Chinese residents is suspected of carrying out illegal financial activities. In recent times, the regulation of virtual currencies has become more stringent. After the "Regulations on Prevention and Handling of Illegal Fund-raising" was promulgated last year, some acts of participating in virtual currency transactions may also be suspected of breaking the law. Therefore, investors should pay attention to the regulatory signals released by the regulatory authorities this time, abandon the fluke mentality, keep a clear mind, take a correct view of virtual currency, and maintain their own property safety.

▌Nexo co-founder: This cryptocurrency crash has cleaned up excessive leverage

According to CoinDesk on May 21, Antoni Trenchev, co-founder of cryptocurrency lending company Nexo, said that the recent decline was not as severe as in March 2020, but it did clear "excessive leverage." In addition, Trenchev said: "We are currently There is no such excess leverage in the system. That's why we're seeing a recovery now."

▌Musk: Auditing the renewable energy used by large miners may solve the impact of Bitcoin on the environment

Today, Ark Investment Research Director Brett Winton tweeted that Bitcoin mining has the potential to promote the widespread application of solar and battery systems on the grid. To this, Tesla CEO Elon Musk replied that the recent extreme energy use growth of (Bitcoin) mining cannot be achieved so fast in terms of renewable energy. This problem could easily be fixed if the top 10 computing power agencies simply published audited renewable energy numbers. Even Dogecoin has some room for improvement, Musk hinted in response to another Twitter user asking about ideal energy usage in crypto mining.

▌Suncrest Bank of California plans to provide Bitcoin services to its customers

According to The Daily Hodl on May 21, a community bank in California called Suncrest is negotiating with regulators and NYDIG Trust Co. The ability to hold bitcoins in a bank account. Suncrest may offer bitcoin to its customers this year or in 2022, and it is not considering other cryptocurrencies at this time. It is reported that Suncrest manages $1.3 billion in assets and has seven branches in central California.

▌"The Nobel Prize winner said Bitcoin is a cult that will never die" ranked 19th on Weibo's hot search-zce list

Hot searches on Weibo show that "Nobel Prize winner says Bitcoin is a cult that will never die" ranks 19th on Weibo's hot search-zce list.

Key Economic Developments

▌The U.S. Treasury Department requires crypto transfers up to $10,000 to be reported to the IRS

The U.S. Treasury Department said the Biden administration's proposal to strengthen tax compliance includes requiring reporting to the IRS of cryptocurrency transfers worth more than $10,000. “As with cash transactions, businesses that acquire crypto assets with a fair market value of more than $10,000 will also need to report,” the U.S. Treasury Department said in a report on the tax enforcement proposal released Thursday. Comprehensive reporting is necessary to minimize incentives and opportunities to divert revenue away from the new information reporting regime, even though cryptocurrencies account for only a small fraction of current business transactions, the U.S. Treasury Department said. In 2020, the IRS added a line on cryptocurrencies to individual 1040 tax returns for more information on virtual currency transactions.

▌Fed Kaplan: Hope to discuss tapering bond purchases as soon as possible

Fed's Kaplan: Inflation will rise in 2021 and hopes to discuss tapering bond purchases as soon as possible. Renewed call for early discussion on tapering quantitative easing

Golden Encyclopedia

▌What other oracle projects are there besides Chainlink?

In the blockchain system, in addition to recording data on the chain, some operations can also be completed through smart contracts. For example, decentralized finance (DeFi) relies on blockchain systems for cryptocurrency transactions and lending, and oracles, as an important mechanism for obtaining data from the outside, are an essential part of maintaining the normal operation of DeFi. For example, when the price of cryptocurrency plummeted on "3.12" this year, various DeFi contracts experienced reduced liquidity and forced liquidation activities, because the oracle machine detected a sharp drop in the price of external cryptocurrency and took actions to maintain the stability of DeFi contracts .

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