Huobi has started organizing some public lectures, and for this particular one they interviewed Jihan Wu. Not sure if anyone else is interested but I enjoyed the article and decided to translate it - questions are roughly translated, and his answers are written in full! This is about 30% because the article is really long - if anyone's interested I will sit down and do the rest. Original article Q: How did you get into the bitcoin industry? A: When I was studying, I was very interested in the origins of currency for a while. Apart from textbooks, borrow and read other books to learn. I'm more familiar with some of the interesting history about currency, such as how we used various types of currency before gold (as a precious metal) and fiat became widely adopted. When I first came into contact with Bitcoin, it still had a very small market cap. In 2010, I read an analysis about Bitcoin's security written by a famous hacker. He thought Bitcoin's structure was very simple and the technology had no problems. Coming back to the principles about currency that I'm familiar with - I think that since the Internet is a unique community type, it's obvious that many hope that Bitcoin can be circulated as a universal equivalent within a certain niche community. Hence, I was determined and invested a lot of money to purchase Bitcoin. Within a short period of time, Bitcoin's value rose from 10USD to 30 USD, then fell to 2USD, so I lost 80% of my investment. This was my exciting, somewhat discouraging introduction into the bitcoin industry. After purchasing Bitcoin, I translated Satoshi's white paper to gain a deeper understanding of the technology behind it. In the process of analyzing it, I developed an interest in and understanding of mining, leading me to stay in this industry to this day. Q: What do you think about people saying you hold the most bitcoins? A: I don't think so, because the process of forming Bitcoin's history is such that those who enter early gain huge benefits. Initially Satoshi held the most bitcoin; later on some famous investors such as Facebook's Winklevoss and Li Xiaolai surely hold a lot of bitcoin. After the bitcoin community suffered a series of profoundly impactful misfortunes, there was even less chance of me holding the most bitcoins since I gradually began selling my holdings from when bitcoin was about 24000 yuan (edited, thanks BitcoinPrepper!) and bought other digital currencies that seemed more promising. One of those is BCC. Q: When did you find out about and join bitcoin's discussion about increasing block size? A: I found out about it and joined the discussion at about the same time but I was pretty late to the discussion. The dispute about increasing block size can be traced back to 2010, when Satoshi was still around. A recent large dispute started in 2013, but by the time I began to follow it, it was already late 2015. At that point, the entire developer community had reached a stage where no one was willing to back down. Before we began to follow the discussion in earnest, we really believed in the moral character of the developers and thought this was just a technology issue. We believed they would come to a compromise and work out a better solution to the issue of increasing block size on their own. Towards the end of 2015, both sides began to lose patience and some developers had begun to liaise with Chinese miners. October 2015 is a milestone in Bitcoin's history, because they began to coordinate working with mining pools to implement a hard fork to increase block size. In January 2016, splits appeared in the developer community that produced Bitcoin Unlimited (BU), Classic and other small groups. Among them, Classic flew to china and met many mining pools to begin promoting a hard fork upgrade. At that time our company also met Classic's team, and we were the first in the world to signal our support for Classic. Afterwards, platforms began to show their support one by one - this was the backdrop to our consensus negotiations in Hong Kong. After we signaled support for classic, an overwhelming majority of people wished that Core would compromise so that there wouldn't be a need to change the lead developer team. Hence, we held meetings in HK, holding the Hong Kong Consensus Negotiations (??). Core developers promised to work towards a hard fork and miners would no longer use clients not compatible with Core. However, the Hong Kong Consensus was later on executed very poorly. Being a compromise, both sides understood the agreement very differently. Miners and exchanges held negotiations with Core developers, supporters and fans. We kept a hopeful attitude that bitcoin could follow the blueprint originally delimited by Satoshi and promptly upgrade, or else the issue of increasing block size would affect the growth of Bitcoin. Q: Till May this year Bitcoin's fork was widely discussed, and Litecoin also gave it a go. At that time there were the proposals put forth by BU and Classic that you just mentioned - can you discuss the relationship between BU's proposal and BCC? A: Former core developers have played a large part in forming the multiple developer teams such as BU, ABC, Classic, XT which are all now compatible with the BCC/BCH chain, and these teams are independent from the core team that are still in charge of the BTC chain (edited, thanks alfonumeric!). Some of BCC's main developers were leading BU developers and some of BCC's main anonymous developers previously made significant contributions to BU. These developers had their own ideals and ideas regarding how the quality of software development should be managed and how to coordinate the circulation of open-source software. Hence, BCC eventually broke off and formed a development team separate from BU. Q: What value do you think BCC brings to the Bitcoin ecosystem? A: Before discussing that, we need to be clear about what on-chain assets are. We feel that on-chain assets are essentially a type of willingly formed social contract dependent on technology to be realized. Firstly, it is a social thing because it has achieved huge scale - there are many participants, about 20-30 million worldwide. These communities can be divided into Bitcoin, Litecoin, Dash etc. Within each asset, the communities' participants have an initial consensus and have drafted a set of rules for the asset. At the same time consensus is reached willingly. This is the essence of on-chain assets: they can be realized through technology, based on the foundations of an agreement that was willingly entered into. What happened during Bitcoin's block size upgrade? Firstly, Satoshi made clear since he first began writing the software that blocks would have to grow eventually and that hard forks were an important method to increase block size. This was already apparent in Satoshi's white paper and emails, and his discussions on Bitcoin forums expressed similar views. Before Blockstream and their allies strangled opinions on certain important channels and media platforms, the entire Bitcoin community was largely aligned on the plan for and route towards Bitcoin's block size upgrade. Actually, this is a part of Bitcoin's entire community protocol, but after Blockstream gained control of important community and developer forums they began shutting down opinions starting in 2016, brainwashing newcomers to the bitcoin community. In my opinion, this is a violation of the community's social contract and the tradition of liberalism. The Bitcoin community stresses freedom of speech, developing ideas and not controlling opinions or thinking. When these things appear, the community begins to violate its early promises. BCC appeared under these circumstances and helped the Bitcoin community to return to its earlier roots of liberalism. Previously, Bitcoin's community was open and everyone was free to voice opinions regarding what its future should look like. We formed an agreement based on resources, so we could freely organize ourselves (not sure what he means). This proved that any party who attempted to prohibit or exercise autocratic supervision over blockchain assets was doomed to fail, since the community was free to think and people could group up through communities to form consensus. With this consensus, we could produce the relevant software and guarantee the consensus on the blockchain. With regards to Bitcoin's ecosystem, I feel that BCC's greatest value lies in how it welcomes back the old tradition of liberalism. Q: What left a deep impression on you during BCC's development? A: Firstly the rise and fall of BCC's price is very interesting. After BCC commenced trading it hit a high of 0.5 BTC, then fell sharply. In the following days BCC's price fluctuated violently and would triple in a few days then fall, because everyone was in the process of getting to know and accept it. This left the deepest impression on me. Next its difficulty adjustment mechanism is also interesting. Being a fork with less computing power, BCC could release blocks at a steady rate and the adjustment mechanism played an invaluable role. When BCC's block creation rate is slow, the difficulty decreases so that at some points of time BCC mining is more profitable than mining Bitcoin, attracting large amounts of computing power to mine BCC. After this critical point has passed, BTC transactions will be very congested. When the difficulty adjusts upwards again, computing power will shift back to BTC and alleviate the congestion. These events are fascinating and have never occurred before in Bitcoin's history. When we first saw this phenomenon with our own eyes we felt it was really fascinating - it has many implications for the switching over of computing power and how the value of assets are determined, and is worth researching.
Bottos chain CEO Li Xiang: The future of data securitization, everyone is Xiaolai Li
A few days ago, the IFIC International Financial Technology Innovation Summit, hosted by People’s Daily People’s Digital, Sanya City Bureau of Commerce, FINWEX, and Guoyin Jinkong, was held in Sanya. At the meeting, Bottos Chain CEO Li Xiang made the theme “The Hope of Machine Civilization”. The speech shows the basic positioning of the Bottos chain “the infrastructure that focuses on artificial intelligence, the application platform that serves data, algorithms and computing power”, and outlines the evolutionary framework of machine civilization to replace industrial civilization. During the meeting, Golden Finance interviewed the Bottos chain CEO Li Xiang. Bottos CEO Li Xiang
Golden Finance: Please introduce the development track of the Bottos chain?
Li Xiang: According to different development periods, we divide the Bottos chain into 1.0, 2.0 and 3.0. From 2017 to 2019, Bottos Chain 1.0 — positioned as an artificial intelligence infrastructure. Our entire team spent a year and a half developing BottosChain from 0 to 1, and open source at the end of May 2018, and officially handed over the community to decentralization in December of the same year. As a self-originating public chain, the Bottos chain BottosChain has its own independent property rights in many key technologies. At present, we have applied for 3 key technology patents, which are very flexible in the whole architecture design. We reserve the interface for the AI empowering blockchain, and at the same time have great advantages in commercial performance, and do everything possible to lower the threshold. From 2019 to 2021, it will be Bottos Chain 2.0 — positioned in the artificial intelligence industry. Our goal is to help 10,000 smart DApps to land, securing massive amounts of user data assets, and letting data, computing power, algorithms and other production materials Fast exchange, spiraling out higher AI wisdom, allowing the industry to achieve a higher premium. From 2022 to 2025, the Bottos chain 3.0 is positioned as a revolution in the AI back-feeding blockchain. Based on the accumulated industrial data and machine intelligence of the Bottos chain 2.0, the Bottos chain will pass the underlying code to the robot to optimize and rewrite. The ultimate goal of the first public chain of artificial intelligence. I believe that by 2025, humans no longer need to work. The machine is not only fully qualified for labor, but also the underlying code of the blockchain. In the future, the Bottos chain platform will be used to divide the value of machines and people. At that time, human intelligence will be You can explore the stars and explore the bigger unknowns.
Golden Finance: What do you think is the biggest value of the blockchain?
Li Xiang: Rather than saying that the blockchain creates new value, it is better to say that the blockchain will not be released from the statistical stock value. For example, each of us is generating massive amounts of data every day. When these data are securitized by the blockchain, everyone is Xiaolai Li. The digital economics of Bottos chain cognition is the use of blockchain technology to redistribute the productivity of the digital economy through data, algorithms, and computational power. The Bottos chain is positioned to carry the evolution of artificial intelligence using blockchain technology, and we must share Data asset securitization will bring huge value dividends. In the era of the Internet, data is centralized, and data obtained from users at no cost has created giant companies such as BAT. In the blockchain era, personal data will truly belong to individuals. Due to the popularity of 5G-promoted ubiquitous Internet of Things, the silent data of tera-sensors will be activated to generate new artificial intelligence, between individuals and individuals outside the BAT client. Obtaining the possibility of peer-to-peer direct sharing of data, we do not need to snatch data from Internet packets, but exchange data directly from the bottom of the sensor through the Internet of Everything. The exchange and superposition of data and data has spawned the spiral evolution of algorithms and computational forces, and then returns the generated value to the individuals of the data source. We can see that the platform built by the Bottos chain carries the closed-loop value of data, algorithms and computing power in the machine civilization. Artificial intelligence is one of the few blockchain fields that can construct an all-digital closed loop. Artificial intelligence is also the only way to bypass Taobao WeChat. This is the value chain of the centralized application, which is the original intention of the Bottos chain to locate artificial intelligence. In the field of artificial intelligence, the main source of value of Keda Xunfei and Shangtang Technology is the free data source provided by millions of users. We can imagine that the market value of the two companies will be divided into millions of users, and the per capita capital will be renewed. Assigning the scene, this is the mission of the Bottos chain.
Golden Finance: How do you see the relationship between artificial intelligence and blockchain now?
Li Xiang: Artificial intelligence is productivity, blockchain is production relations, productivity is that I can destroy you, production relationship is that I can’t directly destroy you, but I can offer the best person to destroy. Productivity creates value, and production relations drive productivity, so they are complementary and can be understood as the poles of Tai Chi. So how many blockchains in the future will have a lot of blockchains to help him achieve value, otherwise he can’t live alone because he didn’t make money. Suppose a developer researches an algorithm, including Bitcoin, which is an algorithm that requires a set of value chains to collaborate and a set of cross-organizational value exchange systems to support. Without a value chain and value mitigation, this algorithm cannot be separated. survive. We have restored this form of bitcoin to countless entrepreneurs, technology workers, man-machine warriors, and data providers, so that they can make new money. Intelligent hardware far exceeds the commercial value of traditional hardware. It comes from its semi-soft and semi-hard features. The soft part can not only capture hard information, perform edge calculation, but also self-purify to rewrite the working mode of hardware. We can simply Understood as a line upgrade on Apple phones. But traditional hardware, it is only hard and not soft, his data is wasted, and he can’t self-evolve. So, the combination of soft and hard is a new life state of the new life, which is the basic unit of machine civilization. Everything in the future is soft and hard, it generates data, and the hardware becomes a living body. This kind of living body will evolve from industrial civilization to machine civilization if it evolves from industrial civilization to machine civilization if it evolves into machines that build machines and machines that write programs (we are writing artificial contracts directly with artificial intelligence).
Golden Finance: What difficulties and challenges did Bottos encounter from its inception to the present, and which pits have been crossed?
Li Xiang: From 2017 to 2019, we have experienced some minor storms. In general, it is a challenge all the way, but in the end, it will turn into a growing nectar. The first is the cognitive challenge. We are a revolutionary platform. Therefore, we advocate the spirit of geeks. Only by breaking through the cognition can we change the world. We believe that the artificial intelligence + blockchain can rewrite human civilization. The future is the age of machine civilization. Everyone is worth the money. It can support countless robots. At the same time, everyone is very profitable because he participates in and shares the feast of machine civilization. This is a huge bonus that the Bottos chain hopes to excavate. Secondly, the technical challenge, blockchain + AI is extremely brain-burning, when black technology encounters black technology, if there is no deep understanding of the two industries, there is no great courage and determination, this double track It is very difficult to do it. Finally, there are challenges in the quality of the team. In the process of project development, there will always be a low point. When there are pressures from all sides, there are new people joining the old people on the road, how the core team keeps the initial heart and the front, I think it is the project. The core factor that can ultimately achieve the goal.
Golden Finance: What is the possible type or industry of DAPP in the future Bottos chain?
Li Xiang: Focusing on data and sensor algorithms, there are many application scenarios, such as travel scenarios, smart home scenarios, car networking scenarios, and then there are a large number of scenarios on the mobile side, or reversed according to value, as long as it can correspond to a billion-dollar The centralized enterprise, we all have the possibility to create a mechanism to take back. At present, artificial intelligence has begun to erupt from visual hearing, such as Keda Xunfei and Shangtang Technology, which have begun to gain a lot of application value. The reason is that the standard of the Turing test is to let the machine have the ability to talk with people. This ability comes first from simulating human perception. The meaning of the sensor is to digitally simulate the five senses of people and generate massive data. So now we see that artificial intelligence breaks through from hearing and vision first, because human sensors and radios are the crystallization of human sensors that are close to a hundred years of development, and the sensors of touch, smell and taste need to evolve gradually. . With five senses, we also need to think about thinking. Google’s man-machine war is the application of thinking. With thinking and driving feedback, Google’s Boston Power Robot is the application that drives feedback. Google is a monument to artificial intelligence, its valuation is more than 800 billion US dollars, and countless Keda Xunfei in the world are catching up with speed. It is conceivable that the Bottos chain stands at a dawn moment when a great era is about to open. We not only hope to remind the birth of countless Google, but also hope that these “new Google” will repay the millions of wealth of Xiaolai Li. If you aren’t already in our group, please join now! https://t.me/bottosofficial Bottos Website | Twitter |Facebook | Telegram
As the challenge of Blockchain scalability continues to handicap cryptocurrencies ascension to mainstream adoption, an industry wide arms race has been launched to produce a distributed ledger capable of achieving faster transaction speeds without compromising security or decentralization. Although solutions like the Lightening Network, Raiden and Plasma currently lead the way, they still haven’t been proven to be the definitive solution for achieving true scalability. In response to this, the Mixin Network brings to market a multilayered platform built to enhance the speed, privacy and security of transactions between digital assets across multiple distributed ledgers. Mixin provides a messenger app — ‘Mixin Messenger’, where users can store cryptocurrencies in their wallet, and perform lightening fast peer-to-peer transactions between contacts. Developers can also build new Dapps on top of the Mixin Networks infrastructure. With bold claims of over a billion transactions per second, 0% transaction fees, and an infrastructure for cross chain Dapp development; Mixin is positioning itself to be the dominant solution to the blockchain scalability problem. How it works The Mixin Network is composed of different high performance distributed ledgers, with the core ledger called the ‘Kernel’, and the supporting ledgers called ‘domains’ and ‘domain extensions’. Domains are gateways that feed assets from Bitcoin, Ethereum, other Blockchains, and even central banks into the kernel. The kernel is responsible for verifying and governing the assets and their transactions. Domain extensions are the distributed ledgers that store Ethereum, EOS and other blockchain smart contracts and trusted applications. Mixin Kernel The Kernel is a core component of the Mixin network. It uses a directed acyclic graph design to scale digital asset transactions. A directed acyclic graph (or DAG) is a structure consisting of nodes that are connected to each other in a non-linear pattern. With DAG’s, information is dispersed using a ‘gossip protocol’ across multiple nodes simultaneously, allowing consensus on transactions to be achieved faster. Consensus Protocol The Mixin Kernel distributed ledger uses a proof of stake consensus protocol. Kernel Nodes stake at least 10,000 XIN as collateral in exchange for the ability to validate transactions on the Kernel distributed ledger. Each Mixin Kernel Node represents 10,000 XIN, which is approximate 2% of the network stake. The Kernel can only operate with at least 7 nodes joined, which is about 15% of the whole networks stake. Privacy For privacy, Mixin kernel uses a 1-time key generation algorithm, which allows the system to generate a ‘ghost address’ that can be discarded after each transaction a user makes. Mixin Domain The Mixin domain communicates with the kernel via system calls. In order for an external asset (from the Bitcoin blockchain for example) to become associated with the Mixin kernel, a Mixin public key is first produced to connect with the domain, and then an asset specific public key (i.e a Bitcoin public key) is produced to connect the asset to the Mixin Kernel. If someone wants to send funds from their Bitcoin wallet to the Mixin network, the domain will create a transaction to the Mixin public key, and the Mixin kernel will verify the transaction. Mixin Domain Extension The Mixin domain extensions enable users to setup ‘smart contracts’ from a single computational unit (i.e your laptop or iPhone). These smart contracts are higher performing and more robust than those currently offered on the Ethereum blockchain. XIN Token XIN tokens are the main token used in the network. Like Bitcoin and Ethereum, the token is paid to those who support the network by validating transactions. XIN tokens are also staked in the proof of stake consensus protocol (at least 10,000 XIN tokens must be staked to join the network as a full node). The Mixin Network also connects to different Dapps using API calls. These Dapps pay the network in XIN tokens based on the amount of resources the Dapp consumes. Total Supply: 1,000,000 Circulating Supply: 438,154 Token Sale Date: Nov 25 ~ Dec 25 2017 Market Cap: $231million (rank #45) Current price: $529 Mixin Messenger Mixin provides a messaging application called ‘Mixin Messenger, which allows users to take advantage of the secure and efficient distributed ledger infrastructure they’ve built. The app is available on the Google or Apple store, and can be used to transfer cryptocurrencies to anyone with their phone number, even if they are not a Mixin user. The app also features a digital wallet, and is capable of performing lightening fast peer-to-peer transactions between Mixin contacts. Mixin Messenger also provides a series of Bots created by a community of developers to automate certain functionally for users: For Transactions: · Red Envelop (Red Pocket): Gamification bot for winning tokens in a group chat. · Assistant (Group Chat Admin): A group owner can invite this bot to join their group chat, and decide the conditions for all members. For example; the group member should have 20 XIN on their account. · Exin (OTC, Exchange): Users buy cryptocurrencies OTC (over the counter) and the bot provides several trading pairs, for example: BTC/USDT, ETH/USDT, XIN/BTC, etc. · Coin Exchange: Comes in 2 parts: paid question and coin exchange. Paid question section shows several valued questions, and people have to pay to check the answers. The exchange section is a small and simple crypto exchange on the Mixin network. For News and Information: · Mixin Log: This is the official channel to post development log or news about Mixin, etc. · Hacker News: Hacker News is a news channel belongs to Y-Combinator. Delivers interesting news automatically. · IMEOS (fresh updates): The bot connects IMEOS, the first media portal about EOS, and it also reports worldwide blockchain news, EOS marketing data, etc. · Bot (Bishijie News Fresh Update): The bot links a famous blockchain media named Bi Shi Jie. It sends the news from the official site to Mixin. Gaming: · Virtual American Roulette: Decides what kind of token, how much you bet and which color or number you choose. Players send these orders to the bot, pay the bot, and then you receive the results immediately. AI/Chat Bot: · MX (Virtual Friend): A virtual girl named Xiaobing who you can communicate with users like a real human. Team The Mixin Network team consists of experienced developers who have worked in the blockchain and tech space for many years and produced a variety of unique multimedia apps. Overall the team has 20 members who are based in China and Japan. Cedric Fung — CEO — Blockchain Architect of Asia’s top emerging exchange BigONE, Co-Founder of Yixia.com, China’s video ecosystem leader with products including Miaopai short video app, Xiaokaxiu dubsmash app and Yizhibo live stream app Danna Li — COO — Earliest blockchain adopter, former 8BTC Columnist, Bitmain Investment Lead, INBlockchain core team member and BigONE Operation Lead Crossle Song — CTO — Former Yixia.com Technology Lead, Vitamio SDK Architecture Lead, seasoned Android and iOS developer Oven Tang — Product Lead — Developer of Miaopai, China’s leading video app with 300M users Investors Xiaolai (IN Blockchain Partner) Lao Mao (IN Blockchain Partner) Yonghao Lou (CEO of Smartisan) Roadmap 2018 mid July — Debut of Mixin Exchange 2018 September — Mainnet beta launch 2019 February — Mainnet launch Community Development Plan 2018 early July — Mixin Developer Hackathon 2018 July 7–9 Hack Summit Pros: Byzantine fault tolerant security Trusted Execution Environment (TEE) is used to reenforce security and boost transaction times by eliminating network latency Ghost address generation enhances user privacy when transferring funds Messenger application enables lightening fast peer-to-peer transactions between contacts Provides an infrastructure for cross chain Dapp development. Strong technical team 40,000 daily active users who store assets valued at over $100 million Challenges Mixin faces stiff competition from other blockchain protocols like EOS, ICON, NEO, etc. These protocols are all trying to achieve the most scalable solution. However, Mixin has the advantage of offering a network that enhances the transaction speed, security and privacy of all digital assets belonging to these Blockchains. Conclusion In a highly competitive space where hundreds of protocols are fighting for market dominance, Mixin stands out by providing a multilayered infrastructure that enhances scalability, security, privacy, and cross chain functionality. At the base layer, Mixin aims to solve blockchain scalability by creating a network of distributed ledgers that function under a highly secure directed acyclic graph design. On top of this high functioning network sits a simple mobile messaging application, which enables users to seamlessly store and transfer a variety of cryptocurrencies between contacts. Lastly, Mixin is aspiring to become a platform for cross-chain Dapp development. Overall, Mixin still has a ways to go before it becomes a household name like EOS or Ethereum. However, their unique value proposition, current user adoption and highly advanced technical infrastructure make it a very promising project to keep watching. for more details; https://mixin.one/
A September report released by the Cyber Threat Alliance indicates that cryptojacking still has room to increase 500% this year after already increasing 8,500% in 2018. The report cites increased amateur involvement in cryptojacking and a vulnerability discovered in Apple Macs as main reasons for cryptojacking still having so much room to grow in 2018. The report also highlights that a massive 84.8% of malware attacks since July 2018 have targeted =Monero (XMR), the popular privacy coin ranked 10th overall by market capitalization. The Monero community announced last week an initiative to launch a new website aimed at educating users to clean-up cryptojacking malware and ransomware.
After the Economic Times released an article citing two anonymous sources that claimed the Reserve Bank of India (RBI) had created a blockchain unit, the RBI has denied the “formal creation” of any unit to research AI and blockchain technology. To investigate the Economic Times’ claims, Naimish Sanghvi, founder of Coin Crunch India, submitted a formal Right to Information (RTI) request to the RBI regarding the creation of a Blockchain unit. The RBI clarified in a response to the RTI that, while the RBI has formed a unit to “study and provide guidance on the desirability and feasibility to introduce a central bank digital currency”, there has been no unit formed to research AI and blockchain technology in India.
Chinese cryptocurrency and blockchain tycoon and investor, Li Xiaolai, announced in a social media post Sunday that he will be taking a hands-off approach to future blockchain projects. Xiaolai will personally no longer invest in blockchain and crypto related projects as he appears to be dissatisfied with fraudulent actors in the blockchain industry who claimed Xiaolai was part of their undertakings. Since the uprising of initial coin offerings in 2017, a number of notable crypto and blockchain investors have been frustrated with their names appearing as advisors for blockchain projects, when in fact they have no connection.
Japan’s self-regulatory cryptocurrency industry group, the Japan Virtual Currency Exchange Association (JVCEA), announced that it plans to limit the amount of digital currencies that can be managed online by any Japanese crypto exchange. The measure will limit exchanges to a range of roughly 10% to 20% of customer’s deposits that can be held in “hot wallets”, while requiring exchanges hold the rest of customer deposits in offline “cold wallets”.
Popular web browser, Opera, announced in a press release that it is partnering with blockchain advisory and financial services firm, Leger Capital, to pursue potential applications in blockchain technology. The partnership will see the two firms specifically search for application and use cases for blockchain technology while identifying growth opportunities blockchain technology can offer. Opera is also currently developing a cryptocurrency wallet to be built into its Android browser.
Ripple (XRP) completed the month of September with a massive +79% return while setting a record for the highest 24-hour volume in a cryptocurrency on popular cryptocurrency exchange, Bitfinex. During September, Ripple also briefly overtook Ethereum as the market’s second largest cryptocurrency by market capitalization but has since returned to the number three position. It is important to note that Ripple’s September rally was largely driven by investor speculation.
StellarX, the Stellar-based zero-fee decentralized crypto exchange, has left its beta stage and fully launched as of Friday, September 28th. StellarX is a crypto exchange that utilizes Stellar’s open-source protocol to enable cryptocurrency-to-fiat transfers while offering pairings for the US Dollar, Euro, Chinese Yuan, Hong Kong Dollar, British Pound, and others. In its announcement Friday, StellarX also revealed plans to offer digitized versions of other assets, including stocks, real estate, bonds, and commodities.
The London Block Exchange announced plans to release a new stablecoin pegged to the British Pound Sterling. Dubbed LBXPeg, the stablecoin will be backed one-to-one by the British Pound Sterling by reserves of the fiat currency. The London Block Exchange calls themselves the “only London-based cryptocurrency exchange offering safeguarded UK Banking”, while offering over-the-counter trading services alongside their “College of Crypto” that teaches individuals about the cryptocurrency industry.
The world’s largest cryptocurrency exchange by daily volume, Binance, will launch a beta version of its decentralized exchange by early 2019. Binance CEO, Changpeng Zhao, believes decentralized exchanges are the future of crypto, and has detailed that Binance’s decentralized exchange will feature non-custodial wallets to enable peer-to-peer cryptocurrency trading where users have full control over their funds.
Chinese Crypto Tycoon Li Xiaolai Joins Grandshores Technology to Develop New Stablecoin
Chinese crypto mogul Li Xiaolai will lead a new stablecoin project within Grandshores Technology. The Hong Kong-listed company, which recently switched from real estate to blockchain investment, announced on Monday that it had appointed Li as executive director and co-CEO of the company. At his new position, the billionaire investor will head the development of the planned “stable digital currency system,” which will be focused on global mainstream currencies. Grandshores Technologies’ chairman and executive director, Yongjie Yao, revealed plans in September to raise the equivalent of about $12.7 million through a digital token fund and use the proceeds for three fiat-pegged stablecoins, with the first to be based on the Japanese yen and expected by the end of 2018 or the first quarter of 2019. The company is also working on two other stablecoins pegged to the Hong Kong and Australian dollars. Within his new role at Grandshores Technologies, Li will also lead a number of initiatives including the establishment of a Directed Acyclic Graph (DAG)-based public database, development of Trusted Execution Environment (TEE) technologies, and other blockchain-related projects. Grandshores Technology changed its name from SHIS and shifted its focus to blockchain following its acquisition in May by a company run by Yongjie. The latter is also a founding partner of the Hangzhou Grandshores Fund, which has backing from the government of China’s Hangzhou city. The 10 billion yuan ($1.45 billion) fund is also backed by Li. Li is one of the best-known names in the cryptosphere after he founded BitFund, a Beijing-based venture capital investment fund with a focus on cryptocurrency and blockchain projects. In early October, he announced his departure from the crypto world, citing increased fraudulent activity.
Bitcoin Tycoon Li Xiaolai: Investment, Please Start from Learning!
Li Xiaolai, former Chinese crypto investor For Li Xiaolai, I believe that everyone is no stranger, and recently he is back! If you are concerned, you will find this controversial figure, some people regard him as a life mentor, and some people regard him as a swindler. In today’s era of information, it is difficult to judge a person impartially and objectively. Regarding Li Xiaolai, I spent a lot of time researching this person. From the beginning, he taught us a lot of things, The first pot of gold that Li Xiaolai earned was a few test books he wrote during his teaching in New Oriental, and the famous “Take Time as a Friend”, which brought him nearly a million years of income as early as ten years ago. . In 2011, Li Xiaolai first learned about Bitcoin from the Internet. I thought I found the right way to know a person and his knowledge. https://preview.redd.it/vncobv28xp031.jpg?width=800&format=pjpg&auto=webp&s=d53ec04ebb36934fda5cd190edb7386cc4d55b0a Li Xiaolai and his book “The Self- Cultivation of Chives” give the greatest revelation: no matter what you are doing, whether it is investing, attention, time, learning, growth, is always the most important thing. In life, it doesn’t matter what you do, as long as you do it well you will succeed. It is cultivating that skillset that where ever you do, you will succeed. While learning and growing are important for investment, he gave advice in “ The Self- Cultivation of Chives “,In his opinion, it is difficult to have a place in the world that needs more learning ability than the trading market. The success of the trade can ultimately be traced back to learning ability. Almost all-powerful traders are masters of learning and research. Regarding the criteria for distinguishing between investors and speculators, he believes that “speculators refuse to learn, investors are good at learning. Before placing the trade, study carefully and study in depth; after the transaction, whether you win or lose, you must summarize your ideas and thoughts in order to improve your next decision-making. The person who does this is investing in his knowledge. Even if they are “fast forward and fast out.” What is the “ Chives”? They don’t study, they are blind, they blame everyone… Such people, in his eyes, whether they have money or not, regardless of IQ, are “failed speculators”. In Li Xiaolai’s view, the wrong timing and blind “buy and buy” led the novice to become a professional. To get out of the long-term trade, it is necessary to continue to learn to improve investment literacy, rather than waiting for lady luck. Of course, choosing the right time to enter is not easy, because even the Wall Street traders admit that “it is more difficult to get into the market accurately in the market than to catch a dropping knife.” Not to mention ordinary investors and novices. However, blind investment can be avoided by everyone, on the grounds that learning and summing up experience can be done before and after the investment. https://preview.redd.it/8pir7khaxp031.jpg?width=690&format=pjpg&auto=webp&s=b46510f341ba2fa6cc543f74545e0ad6f6a41538 It is worth noting that the difference in the direction and order of investment learning will also make a difference in results, such as value investing, “determining whether to buy or sell after the value of the value is available,” and “discovering it after three or seventy-one. There is a world of difference in not being able to study value again. Therefore, the importance of learning direction and order also requires deep thinking. Regardless of traditional investment methods or digital currency investments, learning can discover value, as conveyed in the self-cultivation of amaranth: whether you are on or off the field, if you want to invest, start with learning. https://preview.redd.it/r6kyw5gfxp031.jpg?width=640&format=pjpg&auto=webp&s=43319e1e6b2984cb791203814be4244777e93540 About Mars Wallet： Mars Wallet, a secure and professional digital asset wallet, regularly shares digital currency investment and financial management skills for you. We focus on digital currency management, and we have carefully polished and formed Mars’ own brand advantage: the four-fold security protection system protects your digital assets in an all-round way; enjoys the benefits of digital financial management with a high annualized rate; and the excellent customer service system eliminates financial worries. With Mars, it’s very worry-free! For more information on Mars Wallet, keep up with its following social media: Medium: https://medium.com/@support_34903 Telegram: https://t.me/marswallet Reddit: https://www.reddit.com/use1-SG/ Twitter: https://twitter.com/1SG_2018 Instagram: https://www.instagram.com/marswallet_1sg/
I am sure most people were like "Wtf is this shit" when they first saw the MassGrid partnership was announced. So I am going to try my best to create a tunnel between these East and West information silos for you guys. First, most people probably managed to find the one and only English article on MLGBI (Massive Linked Grid Based Infrastructure) that is about to be re-branded into MassGrid and launched with a LoMo partnership. As the article mentioned, MGLBI was very famous in China for its meme name at the beginning. What made this story extra interesting is that it turned out to be a very legit project and backed by a well-known Chinese angel investor Charles Xue (who has his own wiki page) Essentially MassGrid is a currency that uses the PoW algorithm to provide computational power to "meaningful" tasks such as AI, data mining, etc. Similar to Golem but MassGrid is its own blockchain. The other massive backers include Li Xiaolai, one of the biggest and earliest BTC miner from China, reportedly owning over 100k BTC at one point. He is now a well-known angel investor. Frank Lee is also a core member of MassGrid. Frank Lee was a big miner for LTC and at one point was responsible for over 50% of all LTC mining power in the entire world. Frank Lee was the one who announced the new name MassGrid to the Chinese community. MassGrid coin has reportedly been trading in peer to peer market @ 50x of ICO already in the Chinese community. ICO price was 0.2 RMB (0.03USD) Finally, CEO of LoMoStar, Fei Xiong is also a backer in the MassGrid project. As some of you might know already, Li Xiaoli is a close associate with FeiXiong and Frank Lee as they co-founded a mining company before. It is only logical for miners to be backing a project like this. Their core competency is generating computational power after all. Why not put it to a more "meaningful" use case? What this means for LoMo? My opinion is that this will obviously bring a lot of attention to the LoMo community in China. In my opinion we have barely seen the tip of the ice-berg of how influential FeiXiong is in the Chinese blockchain community. So yeah, go participate in the airdrop, these tokens might actually worth a lot in the future. Source: https://mp.weixin.qq.com/s/4eXpYI1rO6rdwFmHi560ZQ
Dear friends! We are proud to announce the start of the 2018 World Blockchain Conference in Singapore with ROMAD participation on it! On June 9th our successful project - ROMAD Endpoint Defense ICO will be presented by our adviser to the professional audience of the forum. This year’s forum will gather global blockchain regulators, blockchain industry professionals, currency celebrities, geeks, miners, technology giants, media and blockchain investors, and blockchain lovers to discuss the future trend of the blockchain wave, the investment opportunities and challenges. At the same stage with ROMAD and among the important speakers and guests of World Blockchain Conference you can find: Renu Bhatia (Co-founder Sonikure); Valentin P. (LAToken founder); Zhao Changpeng (Binance founder); Zhu Jiawei (HuoBi COO);Li Xiaolai (China's Richet bitcoin); Lianjin Huang (HUAWEI Blockchain Expert); Xiahong Lin (PUTI CEO);Daniel Araya (CG Blockchain Company Executive); Ayesha Kiani (Republic Crypto Managing Director); Michelle Munson (Eluv.io CEO and Founder); Kendrick Nguyen (Republic Crypto's CEO); Alex Tapscott (CEO and Founder of NextBlock Global). ROMAD is one of the leader companies in the blockchain technologies field nowadays and we want the entire world to witness its power and huge perspectives. Stay with us for more interesting news! #ether#ico#romad#preico#antivirus#soonico#bitcoin#blockchain
General info and list of exchanges for Decentralized Accessible Content Chain
Decentralized Accessible Content Chain 한국어HomeNewsTechnologyDAPP'sTeamAdvisorsPartnersCommunity The Future Of Digital Content Is Here. DACC is the world’s first content-based blockchain that features identity and access management (IAM) at the infrastructure level. Join Telegram Community Join Token Sale Whitepaper Rating of DACC DACC In The News The #1 blockchain startup to watch in Q2 2018David Wither, Influencive (March 2018) “With a community this massive and a heavily experienced team,I am most excited to see this project go to market in Q2.”“DACC provide[s] platforms … for those that are interested in the global, decentralized incentivizations for doing things they love”“DACC could help small media companies and creators better and more efficiently distribute and profit from their content.”“DACC Blockchain Is Bigger Than the Beatles And Better For Music Streaming”“DACC Blockchain Will Bring You Closer to the Music Artists You Love”“Meet DACC: The Blockchain Solution That Could Solve Music Piracy” DACC Will Revolutionize The Digital Content Industry. Centralized content platforms like Facebook and Youtube have failed us. IP Piracy Personal Data Theft Monopolization of Monetization The First IAM Based Distributed File System. DACC users will have full control and protections with respect to: Content Creation Copyright information is time-stamped into DACC blockchain. Algorithms are used to detect copyright theft. Content Access IAM permission maps let users decide who gets to access and monetize their data/content/IP. Content Storage Decentralized storage with partitions and permission maps to prevent piracy and data theft. Block Structure Designed With IAM. Permissions As A Transaction Access to creative IP and personal social data is treated as a transaction. Immutably stored and monetized by rightful owners. Merkle Roots Allows for faster transaction verification and scalability. Smart(er) Contracts Full flexibility to define rules for token exchanges in relation to any permission transaction. Use DACC To Develop Any Content-Based Platform. All content platforms need strong IAM. DACC is the ideal blockchain technology for developing content-based DAPP’s. Standard Libraries Further define IAM services and transactions for your DAPP. DACC Wallet Full stack solutions for token payments, transfers, and storage. DACC Chain Services Modular design to integrate with third party platforms, API’s, and Layer 2 protocols. DACC x Vinci Smart Headphones Audio Content DAPP DACC will partner with Vinci Smart Headphones to develop the first DAPP on DACC - a decentralized audio content platform. Proof of Recommendations DAPP token economy consensus algorithm built using DACC developer tools. Get Paid To Create & Curate Creators earn rewards for positive ratings on high quality content. Consumers earn rewards for providing ratings and reviews. Copyright Protections All content ownership information time-stamped immutably into the DACC blockchain. Team Members Vincent Nguyen Team LeaderBS Eng（Columbia），MBA（MIT）10 yrs finance，AI/loT industries Vincent Nguyen Team Leader Harold Li Technical LeaderBS Comp Sci(BUPT), MS IT(CMU), MS Applied Math(Peking Uni) Tech lead at Meituan, Vinci, Flipboard Harold Li Technical Leader Jim Ai Audio Tech LeadPhD Physics（MIT） Prev.at BBN，SRI intl，Apple 12 yrs of audio，sound systems experience Jim Ai Audio Tech Lead Jun Zhang AI Tech LeadHarvard Research Fellow，PhD Math（Rice） Microsoft Principal Machine Leaming Researcher 10 yrs deep learning experience Jun Zhang AI Tech Lead Gina Hughes Media and PR LeadBS（Maryland） Prev.Head of PR at Monster Headphones Founder of TechieDiva.com Gina Hughes Media and PR Lead Cathy Cao Media and PR LeadBS MIT 3 years of AI company experience Cathy Cao Media and PR Lead Advisors Jeffrey Wernick Entrepreneur, Private Investor.40 years of investment experience including Uber and Airbnb In addition to DACC, also on QTUM advisory board Began career trading options/ futures while at the University of Chicago. Later worked at Salomon Brothers As investor, his focus expanded to the sharing economy, biomedical, and blockchain technologies Advisor Jeffrey Wernick Entrepreneur, Private Investor. Walter Komarek Co-founder INK, Angel Investor, President and Managing Partner at ForbesfoneBeing a respected figure in the European telecom market, Walter Komarek is CEO at Angel Investment and a President and Managing Partner at Forbesfone (the largest Maltese telecom company). Walter Komarek is engaged in telecom, new technologies and blockchain startups. Having graduated from the University of Salzburg, Walter Komarek has proficient expertise in business strategy and business development. Advisor Walter Komarek Co-founder INK, Angel Investor, President and Managing Partner at Forbesfone Andy Tian CEO and Co-FounderCo-Founded AIG, whose flagship product Uplive is the highest monetizing mobile live video platform across APAC and Middle East Previously GM of Zynga China and also led Google’s mobile business in China Head of the Gifto project and successfully launched the Gifto ICO Investor Andy Tian CEO and Co-Founder Philippe Bouaziz Founder of Prodware GroupPhilippe is known as one of the leading tech personas in Europe and Israel, sitting on numerous advisory boards for engineering and business schools Founded Prodware Group in 1989. Global IT solutions company (EPA: ALPRO) which has served 17,500 customers in 75 countries Advisor Philippe Bouaziz Founder of Prodware Group Jared Polite Head of Marketing at Crypto Media GroupAs an Investor in full service ICO campaigns. He has been involved with over 40 projects to date These Projects has raised north of $300MUSD Advisor Jared Polite Head of Marketing at Crypto Media Group Zhao Dong General Partner & Co-Founder of DCM ChinaOne of the top VC investors in Asia, and has raised over $30 billion of financing for tech and telecom companies Sourced and led DCM’s investment in VanceInfo (NYSE: VIT), BitAuto (NYSE: BITA), and Dangdang (NYSE: DANG), and remains as a board member Former Vice President at Goldman Sachs covering Tech, Media and Telecom Investor Zhao Dong General Partner & Co-Founder of DCM China Oliver Li Partner of Draper Dragon FundOver 10 years of VC experience with companies such as Sino-Century, Withub VC, and South River Capital Placed successful investments in software, semiconductor, gaming sectors, such as Jiaoda Withub (HK 8205), Hyron Software (Shenzhen 002195), Actions Semiconductor (Nasdaq ACTS), and Wind (financial data service company) Advisor Oliver Li Partner of Draper Dragon Fund Luca Nichetto Founder and CEO of Nichetto StudioWorld renown art and industrial designer who has won international prizes, including the Gran Design Award, the Good Design Award, the IF Product Design Award, and the Elle Designer of the Year Award Art director for numerous design brands, exhibitions and competitions in Europe, the US, and Japan Advisor Luca Nichetto Founder and CEO of Nichetto Studio Matthew Cheng Founder and Managing PartnerVC expert and founder of Cherubic Ventures, whose portfolio includes Coinbase, Flexport, Virgin Hyperloop One, Wish, Ring, TianGe Interactive, LiuliShuo, and Pinkoi Founding member at Tian Ge Interactive (1980:HK), China's largest live social video platform Selected to China's "Top 40 under 40" list from 2013-2016 by Cyzone Anchor Investor Matthew Cheng Founder and Managing Partner Justin Sun Founder of TRONFounded and successfully launched the TRON (TRX) platform and ICO Founder and CEO of PEIWO, an app aspiring to become China's Snapchat and has recorded more than 4 billion chats to date Was named a Davos Global Shaper in 2014 and was also formerly the representative of Ripple in China Investor Justin Sun Founder of TRON Omer Ozden Legal Counsel at ZhenFund and DFundInternational securities lawyer with 20 years experience VCPE, IPO's M&A, fund formation, and securities regulation Has worked with NetEase, Alibaba, Baidu, New Oriental, Suntech, E-Long and their investors, including SoftBank, Goldman Sachs, DragonTech, Warburg Pincus and Merrill Lynch Previously a Partner at Baker & McKenzie LLP and led the China securities transactional team on PE financings, IPOs and securities compliance Advisor Omer Ozden Legal Counsel at ZhenFund and DFund Yu Hong Former of 3am commuity&Kfund &QYGAME Investor Yu Hong Former of 3am commuity&Kfund &QYGAME SKY Cofounder of 3am Block Community & Foundation PartnerSerial Entrepreneur in the Social Media and Social Networks space Pioneer in the China mobile messaging space and founder of companies such as Tongxue.com Founder of Vinci Smart Headphones, world’s first standalone headphones with built-in AI Founding Partner of Roark Fund which has invested in over 20 blockchain projects Advisor SKY Cofounder of 3am Block Community & Foundation Partner Jia Tian Chief ScientistAI industry veteran and former Senior Developer at Baidu and Alibaba Currently serves as the Chief Scientist at BitFund.PE, a bitcoin fund which was founded by Xiaolai Li and has been dedicated to supporting the bitcoin community since 2013 Mr. Tian is also an advisor to multiple blockchain tech startups such as IOST, DATA, Hydro, and more Advisor Jia Tian Chief Scientist Haobo Ma AELF CEO & FounderCEO & Founder of AELF, a decentralized cloud computing blockchain network. AELF currently has a market cap of over USD 250M CEO & Founder of Hoopox which develops blockchain as a service solutions CTO & Co-Founder of GemPay, China's first Bitcoin payment company Member of Blockchain Expert Committee of China Electronic Association, and a member of Blockchain Professional Committee of China Computer Society Investor Haobo Ma AELF CEO & Founder Roy Li Ruff CEO /Ruff Chain Investor Roy Li Ruff CEO /Ruff Chain Li Quan D- fund Partnerfocuses on investment in the digital currency sector and provides end-to-end investment banking services for the project. Major investment projects: TNB, QASH, aelf, Cybermiles, LLT, MobileCoin, Beechat, etc. Investor & Advisor Li Quan D- fund Partner Kelvin Hsu Founder of BlockVC Advisor Kelvin Hsu Founder of BlockVC Huang He Co-Founder and CEO of MailTimeSerial entrepreneur and founder of 2 mobile communication companies - TalkBox and MailTime, which recently came out of Y Combinator (W16) Creator of the top podcaster in China with over 2 million views daily Co-founded and launched successful ICO for MDT (Measurable Data Token) Advisor Huang He Co-Founder and CEO of MailTime Ge Wenxing Dfund Partner Investor & Advisor Ge Wenxing Dfund Partner Grace Fan Brink Asset CEOGraduated from the department of Business Management, University of British Columbia BD Director of RuffChain Internet serial entrepreneur with years of experience of sales and marketing IoT enthusiast, in charge of several IoT operations projects Advisor Grace Fan Brink Asset CEO Ray Wu Managing Partner at Skychee VenturesFormer and partner at Cybernaut Capital Management Former Managing Director of HP’s new business ventures. Veteran at Cisco Systems, and held several senior positions leading investment, M&A, and internal incubation Dual M.B.A. degree from Berkeley and Columbia Investor Ray Wu Managing Partner at Skychee Ventures Kathy Chen Former CEO of Twitter Greater ChinaCurrently works as Area Vice President at IT and cloud company Citrix Previously General Manager of the SMS&P Greater China Team and General Manager of Cloud and Enterprise Product Group at Microsoft Previously General Manager of Eastern China Region at Cisco Advisor Kathy Chen Former CEO of Twitter Greater China Dou Wang Founder of JIC capitalBlockchain Robot inventor. Global Community operations expert. Invested more than 100 blockchain projects all over the world with high Returns. Investor Dou Wang Founder of JIC capital Jianguo-Wei Former CEO of Twitter Greater China Advisor Jianguo-Wei Former CEO of Twitter Greater China Partners Pre-Sale Bonus Available Now! 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China Round-Up: Permissive Regulations Advocated, 3 Million Chinese HODLers, Xiaolai Recording Leaks
In recent Chinese cryptocurrency news: a prominent scholar has advocated that China adopt a permissive regulatory apparatus, drawing influence from Japanese and U.S. legislation. Research conducted by the International Monetary Institute at Renmin University of China has estimated that the number of Chinese bitcoin investors exceeds 3 million, and an audio recording of famed bitcoin millionaire, Li Xiaolai, giving a scathing appraisal of several leading altcoins has been leaked. https://preview.redd.it/831fk6oivm811.jpg?width=557&format=pjpg&auto=webp&s=c70028fabb2c34fb891e6e5e8f5820ce7184a8ea
[uncensored-r/Bitcoin] Li Xiaolai: Yunbi Is Winding Down In 3 Months
The following post by 8btccom is being replicated because some comments within the post(but not the post itself) have been silently removed. The original post can be found(in censored form) at this link: reddit.com/ Bitcoin/comments/6zegt4 The original post's content was as follows:
http://news.8btc.com/li-xiaolai-yunbi-is-winding-down-in-3-months A Shenzhen-based exchange has delisted BTC and ETH trading pairs against CNY. The exchange is the second one. The latest report of Caixin Weekly this afternoon also revealed that “Yunbi is winding down in 3 months” according to Li Xiaolai, the Bitcoin tycoon in China. Zhgtrade, a Shenzhen-based altcoin exchange, announced that the exchange would delist BTC/CNY and ETH/CNY trade pairs on 10 September. In addition, the statement said:
“As per the regulatory requirement, Zhgtrade will stop most trading pairs gradually. Please withdraw your CNY and digital assets.”
Prior to the statement, the exchange, which was founded in 2015, has also suspended new user registration and CNY deposit on 9 September . This is the 2nd exchange that basically shut down operation. The first one is guojiaowang, one of the six Beijing-based exchanges. These two exchanges are more or less involved in the “ICO” frenzy in China. In fact, most exchanges and ICO platform announced refunding procedures for “ICO” coins after delisting of ICO-ed coins. So far, Huobi, OKCoin, Btc38 and Viabtc are the exchanges that are not connected with “ICO” coins. But that doesn’t provide them shelter from regulatory storm. In response to a report from Caixin, Huobi, OKCoin and BTCChina release almost identical reponses. Take BTCC’s reply for example:
1. So far, we haven’t received order from regulatory authorities and not in a position to confirm the authenticity of the news. 2. As a company based in China, BTCC’s basic principle is to comply with local regulatory policy. If the report is true, we will firmly support the policy and protect the customer’s asset security. 3. The report mentions that Bitcoin is not considered as illegal by the authority and p2p trading between users are not banned. If the report is true, BTCC will stop current BTC/CNY trading and transform into a p2p trading platform for digital assets.
The response leaves a opening for transforming into an OTC exchange, which is specifically mentioned as “not restricted” by regulatory report. But the danger of total shutdown is looming until later this afternoon. According to the latest report by Caixin, Li Xiaolai, who owns 25% share of Yunbi, told Caixin reporter that:
“Yunbi is winding down in 3 months”
With the ride of ICO, Yunbi once took the first place in terms of trading volume in the world. If Yunbi and other exchanges are to shut down, CNY liquidity supply is bound to shrink. Although BTC trading might still be conducted via localbitcoins, OTC exchange for ERC-20 tokens is still absent in the market.
Yunbi Is Winding Down In 3 Months (Some said 3 days)
http://news.8btc.com/li-xiaolai-yunbi-is-winding-down-in-3-months A Shenzhen-based exchange has delisted BTC and ETH trading pairs against CNY. The exchange is the second one. The latest report of Caixin Weekly this afternoon also revealed that “Yunbi is winding down in 3 months” according to Li Xiaolai, the Bitcoin tycoon in China. Zhgtrade, a Shenzhen-based altcoin exchange, announced that the exchange would delist BTC/CNY and ETH/CNY trade pairs on 10 September. In addition, the statement said: “As per the regulatory requirement, Zhgtrade will stop most trading pairs gradually. Please withdraw your CNY and digital assets.” Prior to the statement, the exchange, which was founded in 2015, has also suspended new user registration and CNY deposit on 9 September . This is the 2nd exchange that basically shut down operation. The first one is guojiaowang, one of the six Beijing-based exchanges. These two exchanges are more or less involved in the “ICO” frenzy in China. In fact, most exchanges and ICO platform announced refunding procedures for “ICO” coins after delisting of ICO-ed coins. So far, Huobi, OKCoin, Btc38 and Viabtc are the exchanges that are not connected with “ICO” coins. But that doesn’t provide them shelter from regulatory storm. In response to a report from Caixin, Huobi, OKCoin and BTCChina release almost identical reponses. Take BTCC’s reply for example:
So far, we haven’t received order from regulatory authorities and not in a position to confirm the authenticity of the news.
As a company based in China, BTCC’s basic principle is to comply with local regulatory policy. If the report is true, we will firmly support the policy and protect the customer’s asset security.
The report mentions that Bitcoin is not considered as illegal by the authority and p2p trading between users are not banned. If the report is true, BTCC will stop current BTC/CNY trading and transform into a p2p trading platform for digital assets.
The response leaves a opening for transforming into an OTC exchange, which is specifically mentioned as “not restricted” by regulatory report. But the danger of total shutdown is looming until later this afternoon. According to the latest report by Caixin, Li Xiaolai, who owns 25% share of Yunbi, told Caixin reporter that: “Yunbi is winding down in 3 months” With the ride of ICO, Yunbi once took the first place in terms of trading volume in the world. If Yunbi and other exchanges are to shut down, CNY liquidity supply is bound to shrink. Although BTC trading might still be conducted via localbitcoins, OTC exchange for ERC-20 tokens is still absent in the market.
I doubt Huobi.com is a legitimate / lasting Bitcoin Exchange
I am willing to put it out there that Huobi.com (Now the world's leading Bitcoin exchange by volume as of the last 2 weeks?!) is at best inflating it's numbers, at worst a scam designed to lure speculators into depositing their money before ultimately closing shop and blaming the government on user's inability to withdraw their RMB. Here is why: 1.) Bitcoin trading numbers were abysmal in China as recently as 2 weeks ago. The bid/ask ratio on BTCChina (the previous leader) had dropped to an extremely depressed ratio following the central bank policy statement and ensuing panic. When suddenly out of no-where one of the otherwise relatively unknown exchanges skyrockets to the lead of the pack (and the world) using what they describe as a "loophole" in the Chinese banking system. How does that volume of business shift from one venue to another in such a short amount of time? Days or even weeks? It strikes me in a country with such a controlled banking system that it would take some time for even a rabid group of adopters to transition venues - and even than performing the kind of KYC/AML required by law would take even longer (look at the delays all other major exchanges are having with performing these tasks with rapid adoption) Which leads me to my 2nd point: 2.) Okcoin has recently been accused of, and basically been exposed (http://www.coindesk.com/chinese-bitcoin-exchange-okcoin-accused-faking-trading-data/) as having inflated the volume of their daily trade in order to entice depositors. I had suspected this as far back as October, 2013? And I was disappointed that they were able to operate with such impunity for so long as the market continued to skyrocket. "You only see who's swimming naked when the tide goes out..." a famous investor once said... I suspect that Huobi.com is using the same tactic to lure new speculators into depositing their money by inflating their daily trading volume. 3.) The Li Lin, the CEO of Huobi.com (http://www.danwei.com/li-xiaolai-bitcoin-millionaire/) maybe a hardworking member of the Bitcoin community within China, however, it's reasonable to assume that he holds less sway with regulators than some Chinese billionaires whom are afraid to tweet about smog problems in Beijing for fear of government repercussions. If everyone suspects he is exploiting a loophole for anything less than the astronomical profits that could only come from a "scam" of sorts - why would he do it so publicly? Does he not fear the repercussions the way the other major Chinese exchange owners do? This post was inspired by reading: http://www.ofnumbers.com/2013/12/23/why-huobi-purportedly-has-higher-volume-than-btcchina-and-okcoin/
Bitcoin Daily: Ripple price sees a seven percent surge, Chinese billionaire dumps blockchain and the U.S. government spent big money to monitor crypto. ... In other news, billionaire Li Xiaolai ... Today, CCTV reported that cryptocurrency swiped the circle of friends. CCTV2's "Tianxia Finance" column quoted Bloomberg's data that since the beginning A secret recording of the biggest Chinese Bitcoin Tycoon Li Xiaolai has emerged yesterday on Chinese social media. In this recording, he calls out many big names in the crypto space as “cheaters” and scammers.Has caused a huge uproar in the Chinese Crypto scene. Billionaire Li Xiaolai is the founder of BitFund, a crypto venture capital firm that has fostered a slew of Bitcoin-related startups. Li’s announcement of his decision to withdraw from cryptospace—and investing otherwise—came unexpectedly via his page on Chinese social media site Weibo. News Billionaire Li Xiaolai Is Developing New Stablecoin Project- 2019 Li Xiaolai, one of the Chinese Cryptocurrency Billionaire is all set to head up with a new Stablecoin Project rolling out in the year- 2019
Play next; Play now; The Bitcoin News Show #74 - More Segwit Txs than BCH Txs, NSA Tracking Bitcoiners, Halong Ships! #Bitcoin looks to be setting up for a massive move. 2017 vs 2019 crypto price action, fund managers’ dirty little secret, lightning network update, $VET hack... A LOT OF GOOD NEWS TODAY! Bitcoin's Energy Value just hit an ALL TIME HIGH! This is "Super Bullish" according to Charles Edwards of Capriole Investments. Lik... BITCOIN TODAY: Bitcoin is getting an ETP by a German company. In this video, I'll go through the Bitcoin news today & I'll make a Bitcoin price analysis. The... LAST TIME BITCOIN FLASHED THIS SIGNAL WE WENT UP 800% (btc crypto live price news analysis today ta - Duration: 52:40. Crypto Crew University 39,793 views 52:40