Join the "currency circle"? Please be cautious.

Since the birth of Bitcoin, the popularity of the "currency circle" has continued unabated. Recently, as virtual coins blessed by celebrities such as "Dogecoin" and "Shiba Inucoin" have become popular all over the world, the voice of "speculating coins" has spread all over the streets and alleys. In the eyes of many people, it seems that it is not difficult to obtain huge wealth through "speculating coins" .

However, is this really the case? Is "coin speculation" really a recipe for getting rich? The answer is obviously no.

Recently, the China Internet Finance Association, the China Banking Association, and the China Payment and Clearing Association jointly issued an announcement to prevent the risk of speculation in virtual currency transactions, clearly stating that member institutions are not allowed to carry out virtual currency transaction exchanges and other financial services; resolutely resist illegal transactions related to virtual currency Financial activities, do not provide accounts and payment settlement, publicity and display services for virtual currency transactions.

Musk: Continue to support Dogecoin "as much as possible": Golden Finance News, Musk said on Twitter that he will continue to "support Doge as much as possible" in response to the news that the Boring Company now accepts Dogecoin as payment for rides. [2022/7/7 1:57:51]

At the same time, the announcement reminded the public of the risks of participating in virtual currency investment speculation, and clarified that virtual currencies such as Bitcoin are not issued by monetary authorities, do not have currency attributes such as legal compensation and mandatory, are not real currencies, and cannot and should not be used as The basic characteristics of currency circulation and use in the market.

It can be seen from the above authoritative information that virtual currency-related business activities are illegal in our country. For ordinary people, joining the "currency circle" and speculating on virtual currencies without a solid foundation in reality is a huge risk, and it is very likely that they will lose their money.

Today's panic and greed index is 28, and the level is still panic: April 17 news, today's panic and greed index is 28 (28 yesterday), the degree of panic is unchanged from yesterday, and the level is still panic.

Note: The threshold of the panic index is 0-100, including indicators: volatility (25%) + market trading volume (25%) + social media popularity (15%) + market research (15%) + bitcoin in the entire market Proportion (10%) + Google hot word analysis (10%). [2022/4/17 14:29:22]

Therefore, even though it is difficult for people to remain completely rational in the face of huge interests, we still have to remind: there are huge risks in joining the "currency circle", and we must be cautious.

In our country, virtual currency investment is not protected by law, which is very clear.

Zanthoxylum Live and Tencent Cloud "Zhixin Chain" released 4 digital art gifts: On February 2, Zanthoxylum Live and Tencent Cloud "Zhixin Chain" released four on-chain digital art gifts. Particles" appeared. The four Renyin Year digital art gifts released this time are closely related to the theme of the Year of the Tiger, and they are respectively named "Fu Hu Lin Men", "Like a Tiger Adding Millions", "Yin Tiger Makes Money", and "Tiger Moves the Audience". The four digital art gifts are limited to a total of 2,856 pieces, of which "Fu Hu Lin Men" is worth 888 beans, "like a tiger adds billions" is worth 2,888 beans, "tiger makes money" is worth 4,888 beans, and "Tiger Moves the Audience" is worth 28,888 beans. From January 30th to February 1st, 388, 288, 188 and 88 pieces will be sold in limited quantities respectively. Four Renyin Year digital art gifts are issued based on Tencent Cloud's "Zhixin Chain". After the player collects, each digital art gift has a unique identification and ownership information on the "Zhixin Chain", which cannot be edited and is permanently preserved. (Financial News Network) [2022/2/2 9:27:34]

Our country currently prohibits any virtual currency-related business activities, and any behavior involving token issuance and financing is illegal, and any trading platform is not allowed to engage in the exchange business between legal tender, tokens, and "virtual currency"; Central counterparties buy and sell tokens or “virtual currencies”; they are not allowed to provide pricing, information intermediary and other services for tokens or “virtual currencies”. All financial institutions and non-bank payment institutions shall not directly or indirectly provide account opening, registration, transaction, clearing, settlement and other products or services for token issuance financing and "virtual currency"; insurance business or include tokens and "virtual currency" in the scope of insurance coverage.

These clear laws and regulations clearly tell us that the hype of virtual currency is not protected by law, and if losses are suffered, it is difficult to obtain legal support for relevant claims.

In addition to laws and regulations, the endless scams and examples of being "cut leeks" can more intuitively show people the risks and unreliability of hyping virtual currencies.

The "currency circle" is full of chaos and full of routines. According to the police's inventory, the common routines for hyping virtual currencies include false trading platforms, fund promotion, Ponzi schemes, proxy investment scams, etc. Their outer packaging is different, but in essence, They all take advantage of investors' mentality of getting rich overnight, and of newcomers who are eager to invest and have no way to invest, so as to deceive investors with poor information.

Take the most common Ponzi scheme as an example. It is characterized by the promise of high returns in the short term. Its operation method is to use the money of later investors as returns to early investors, playing the game of "drumming and passing flowers", and the final outcome can be imagined Know.

According to media surveys, digital asset trading platforms are full of chaos. Some platforms specialize in harvesting elderly people who lack information and are weak in vigilance, and use pyramid schemes to trick people into the game; Set up to attract investors to "take the bait", first give small profits, and finally run away. News of investors of different ages in different regions being defrauded occurs from time to time, ranging from a few thousand yuan to tens of millions of yuan.

The country's clear laws and regulations, as well as various real cases, are always reminding ordinary investors: the "currency circle" is deep and risky, and "entering the circle" must be cautious.

Since 2013, my country's financial management department has issued several announcements, reminding the risks of speculating on virtual currencies and strengthening the supervision of the "currency circle". Stricter supervision is bound to better protect the safety of investors' funds and prevent related financial risks.

In the face of people's increasing enthusiasm for investment and the temptation of "one day in the currency circle, ten years in the world", we still have a way to strengthen investor education, establish a down-to-earth investment atmosphere, and abandon the dream of "getting rich overnight". long way to go.

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