Bitconnect and other similar scams take advantage of this. The government can deprive people of their assets on a whim, so why do people exchange their assets for legal tender or paper currency? But they did not chooBitcoin mining is profitablese to take the Bitcoin bus, but turned to Bitconnect. Because it promises a permanent return, it actually uses the newly entered funds to pay for the income of other investors.
Schneier wrote in Wired that the trust issue is the biggest example of the fundamental failure of cryptocurrency. He believes that although the blockchain was created to provide a basis for electronic transactions without relying on trust, a critical examination of the technical architecture of the blockchain will show that without trust, it cannot function. This defeated the entire purpose of having an uncontrolled system from the beginning.
However, as an investment target, both the payer and the receiver have to bear the risk of violent currency price fluctuations, which is very unfriendly to commercial trade. Therefore, stablecoins using blockchain technology have become cross-border payments. The best choice. Cross-border payments and bulk trade have also become the core application scenarios of stablecoins currently mainly referring to USDT.
ETN, that is, exchange-traded bonds or exchange-traded bills, is an unsecured claim. The issuer promises to repay investors a certain amount at the maturity of the bond to the holder. The repayment amount is based on a specific market index, minus necessary Fees, no fixed interest is paid, and principal is not guaranteed.
Bitmex focuses on futures derivatives. In the long bear market, the price of Bitcoin continues to be sluggish and the volatility becomes smaller, but the volatility can be amplified through derivatives. Bitmex's good experience and trading depth attracted traders who were liquidated by "OK", and once concentrated the largest trading volume in the bear market.
Friends of @davidgerard, @JorgeStolfi, and /r/buttcoinBitcoin mining is profitable have provided a very useful service. They can help users understand the bad practices in the cryptocurrency field. The excellent cryptocurrency community should all need their supervision.
Paul and his strategists predicted the Black Monday crash in advance, so they made a lot of money from the crash by holding a large number of short positions, and the amount of funds increased by three times, bringing customers 200% Return. That year, Paul was paid 100 million US dollars, which was almost unheard of at the time.
In the course of these three games, they finally reached a credit system in which all parties abide by the rules of the Bitcoin network. Some people have tried to disrupt this system through forks and the development of other currencies, but in the end it has been proven that in the face of the rigorous, reasonable and stable system of Bitcoin, no conspiracy can succeed. The scale of Bitcoin miners, developers, and users is expanding.