Bitcoin rides a "roller coaster"! The "grey area" is at high risk!
Some people make tens of millions, and hundreds of thousands of people have gone
In recent days, the Bitcoin market is like a "roller coaster", first soaring all the way, the price of a coin was once higher than a kilogram of gold.
By the evening of February 22, it had dropped from around US$57,000 to US$47,000.
Within 24 hours, 360,000 people broke their positions.
Such a sharp rise and fall has once again aroused people's attention to the "coin circle" investment represented by Bitcoin.
A reporter from the Yangtze Evening News interviewed relevant players and experts and found that Bitcoin is still in a "grey area" and many risks need to be paid attention to.
Planning Shen Chunning, writing intern Cao Yuang
Yangtze Evening News/Ziniu News reporter Xu Jing and Ma Yan
[News background]
Bitcoin market rides on the "roller coaster"
360,000 people burst their positions within 24 hours
In recent times, perhaps the most exciting investment product in the global market is Bitcoin.
On February 22, Bitcoin fell from around $57,000 to $47,000.
Within 24 hours, a total of about 360,000 people liquidated their positions, and about $3.72 billion (approximately RMB 24.055 billion) in funds disappeared.
Allegedly, this may be the fault of Tesla CEO Musk's "talking".
Earlier this month, Tesla revealed that it had purchased $1.5 billion worth of Bitcoin.
Musk even changed his Twitter avatar to a pattern with Bitcoin elements.
This may have stimulated Bitcoin to rise further.
However, Musk also stated last weekend that the prices of Bitcoin and Ethereum "look really high."
This is seen as the reason why Bitcoin continued to fall in the next two days.
Bill Gates stated in the interview that he is not a fan of Bitcoin because the mining of Bitcoin consumes a lot of energy and has an impact on the environment.
He also said that if investors do not have as much money as Musk, they should be careful.
[Reporter visit]
Bitcoin investment may have high returns, but the risks are high and there are many "pits"
A reporter from the Yangtze Evening News interviewed several "coin circle" players or interested parties.
They introduced that the benefits of Bitcoin and other "coin circles" may not be small, but there are also many "pits", reminding everyone to pay attention to risks.
●After 95, Xiao Liu:
If you go back to a few years ago, you may invest now, but you want to invest but you are afraid of high risks
The Nanjing post-95 Xiaoliu is very interested in Bitcoin and has been studying but has not substantively involved.
The reason why he pays attention to Bitcoin is "it is too profitable. In 2013, a Bitcoin was still around 600 yuan, and now it is equivalent to 340,000 yuan. If you go back a few years ago, you may invest."
Xiao Liu introduced that the reason why he didn't intervene was not only the lack of capital, but also the high risk.
"Theoretically, you can play as long as you have a computer, but in practice, coin mining is very'burning' the electricity bill; and in order to improve computing power, you must spend a lot of money on graphics cards to improve computing power." He made a rough estimate. Unless you have 500,000 yuan in spare money, you cannot start "coin mining".
Xiao Liu told a reporter from the Yangtze Evening News that to invest in Bitcoin, one must first understand the term "mining"; and to understand "mining", one must first know the "hash algorithm".
"The essence of mining is calculation. The hash algorithm is a formula. Throw a number into this formula, and a completely random value will be generated. This value is only composed of 0 and 1. "Mining" is to use the computing performance of the computer to pass Exhaustive method, after calculating the random number through the hash algorithm, if a number with the first 76 digits being 0 (256 digits in total) can be calculated, the block is successfully packaged, and the corresponding reward is 12.5 bitcoins. This process is called "mining"." He said that the so-called "mining machine" is a computer with very powerful computing power, which consumes a lot of power.
Xiao Liu introduced that the use of external networks in the process is now a "grey area."
At present, its legality is still a problem, and it is not included in the supervision and protection, and it is easy to cause fraud.
For example, illegal merchants package Trojan horse programs into so-called mining pool programs to obtain personal information.
Another example is the frantic speculation in the secondary market of graphics cards, and investors may be reduced to "receivers."
●Mr. Wang after 70:
I have used leverage to earn 15 million yuan and have seen many people liquidate their positions with leverage
Mr. Wang, born in the 1970s, is a fund manager with more than 20 years of experience. He was introduced by a friend to invest 2 million yuan in Bitcoin 4 years ago.
At that time, the price of Bitcoin was more than two thousand yuan, which he felt was cheaper compared to houses and stocks.
From April 2020 to the beginning of 2021, to catch up with Bitcoin's rise from more than 7,000 U.S. dollars to more than 40,000 U.S. dollars, he earned 15 times the income, about 15 million yuan. "At that time, I felt that the rise was too high and the risk was too great, so I was decisive. Withdraw 15 million yuan of proceeds, leaving only a small amount of funds in it."
Facts have proved that his hunch is correct, and his account has been withdrawn by 30% in the recent crash.
According to Mr. Wang, Bitcoin is a virtual currency. There are two ways to invest: one is to buy spot, then wait for an increase, and then sell; the other is to increase leverage, that is, to speculate in Bitcoin, such as investing 1 coin to buy For the contract, buy more with a share of 0.1. If the market outlook rises, there will be gains; if it falls, you may lose your money.
Of course, you can also be bearish.
The key is to look at the right direction.
For example, if he earns 15 times the income, he adds 20 times the leverage.
"Leveraging is very stimulating, and the return is many times, but the risk is huge. If ordinary investors want to participate in Bitcoin, it is not recommended to increase leverage."
He saw with his own eyes that a friend around him added leverage to liquidate his position, and he himself had all lost his first year.
"I will continue to invest in Bitcoin, but my position is not too high. If you have 1 million yuan in idle funds, you can use up to 30,000 yuan to invest in Bitcoin." As a senior fund manager, he is well versed in liquid investment products. Laws, but I also feel that the risk of Bitcoin is "infinite", which is a high-risk species.
In case of a crash someday, it is not impossible to fall back to $1.
In terms of income, two or three times a year is very satisfying.
"It must be sold in time if the price rises, and the bag is safe."
●Mr. Li after 60:
Coin speculation is much more volatile than stock speculation and it is relatively virtual to see less clearly
Mr. Li came into contact with the "coin circle" with the mentality of learning new things.
He now has 10 mining machines and some Ethereum, and currently has revenue on the books, but has not realized it.
As for the trend of virtual currency, he admitted that he still can't see clearly.
Mr. Li told the reporter of the Yangtze Evening News that because the currency was speculating very hard, some people started speculating on mining machines.
More than a year ago, my friend opened a company related to mining machines.
He supported his friends and bought 10 mining machines.
"The price at that time was 11,800 yuan/unit, and now according to my friends, it has risen to 29,800 yuan/unit. However, these mining machines are not digging bitcoin, but another currency."
Mr. Li said that the mining machine is like a computer, mining through computing power.
If the technology of the mining machine is not enough, it will stop.
Therefore, his mining machine only started mining coins in December 2020, and has mined a total of 60 or 70 coins.
"It can be traded, but I haven't traded yet. My friend told me that the value has not yet been reflected and I have to cover it for a while."
He introduced that Bitcoin is a representative of virtual currency; Ethereum is a representative of second-generation virtual currency.
More than a year ago, when Ethereum was worth 1,800 yuan, he bought it on the suggestion of a friend, and then it fell to about 900 yuan, and then it reached five or six thousand yuan. After the Chinese New Year in 2021, it was already over 10,000 yuan.
Mr. Li is also a shareholder.
He feels that there is a certain similarity between currency speculation and stock speculation.
From the perspective of trading time, currency speculation is available 24 hours or 365 days, which is more convenient than stock trading.
But on the other hand, he believes that stock trading can see the tangible performance of listed companies, which is more vivid and specific; and the rise and fall of virtual currencies are not clear, and how to use it is not clear.
He doesn't understand the regulatory policies very well either.
These may all be concerned.
[Expert reminder]
Bitcoin cannot be compared with gold as a bubble asset with extremely high risk
Ordinary investors cannot bear its volatility
Jiang Han, a senior researcher at Pangu Think Tank, said in an interview with a reporter from the Yangtze Evening News: “Bitcoin can’t be compared with gold at all. This is a very risky asset!”
Jiang Han explained that Bitcoin is actually a risky bubble.
For Bitcoin, the biggest problem currently is that it has been overhyped.
"We are not saying that Bitcoin has no value, but that there is a serious departure between its value and the current price it embodies. Therefore, the current Bitcoin risk is extremely high."
"Now that the price of Bitcoin has fallen sharply, we are actually verifying our judgment. This is that the risk of Bitcoin has accumulated to a very high level for the entire market, so any release of risk may cause its price to rise sharply. Volatility, this kind of volatility is a level that is completely unbearable for ordinary investors." Jiang Han reminded that ordinary investors must pay close attention to the risks of Bitcoin, and do not be stunned by its excessive price increase. mind.
The famous economist Song Qinghui introduced in an interview with a reporter from the Yangtze Evening News that Bitcoin is very different from gold and stocks. Bitcoin is a virtual asset with a very high risk factor compared with the relatively low-risk gold physical object that cannot be manipulated. high.
Compared with stocks, Bitcoin does not rely on a specific institution to issue, but is calculated according to a specific algorithm, so investors have lower confidence in it, and the bubble may burst at any time.
As a kind of marketable securities, stocks can judge their own value through the performance of listed companies' operating conditions, and the risks are relatively controllable.
From an investment perspective, the risk of Bitcoin speculation is high, and its future is full of unknowns, and it is not suitable for retail investment.
Bitcoin has skyrocketed before and is now plummeting. There are many reasons for this, but in the final analysis, it is because of confidence.
Looking back in history, when investors have high confidence in them, the price of Bitcoin will rise sharply, and vice versa.
He believes that Bitcoin is a typical bubble asset, but it is just the latest incarnation of crazy speculation, which may eventually burst, just like the "Tulip Mania" in 1637 and the Internet bubble in 2000.
Bitcoin's extremely high risk is well known, and some people even lose money and lose their families.
At the policy and legal level, bitcoin transactions belong to the "grey area", and are often used for illegal financing, money laundering and other illegal and criminal activities. They are special "equivalents" that wander in the "grey area".
In the future, Bitcoin has yet to be further clarified by law before its value can be used as currency.