Digital currency trading platform 5 billion annual trade deficit: the risk of embezzlement difficult to control | digital currency

      When we talk about the block chain, what we are talking about?Is a decentralized, distributed peer tamperproof books, coins or underlying technology bit?Is based on a White Paper will be able to misappropriating $ 1 billion of ICO, or people dazzling variety of tokens?One can not ignore the fact that some had been buried technology projects have begun to issue their own tokens in the form of initial token issuance (ICO) of。 Once clear distinction "chain circle" and "circle currency", the distinction is increasingly blurred。
  Currently active in the block chain in the world, not the traditional Internet companies or financial institutions, but many start-up companies。 These companies survive to raise funds in the form of ICO, issued tokens in the on-line trading platform, but also spawned a large and complex digital currency in the secondary market。 Project side, investment funds, trading platform, investors and other interests constitute a complete ecological chain, all kinds of capital market rules everything here, once the chaos is also prevalent here。
After the Securities Times reporter multi-understood, trying some of the details and all points of view, showing a corner of the world。
  5 billion annual trade deficit with the trading platform trading platform is the digital money interests of the chain's most important ring。
It is connected to a secondary market block chain investment, but also connected to the project parties and ordinary investors。
September 2017 after the domestic trading platform is sorted out, digital currency trading was sluggish。
Thereafter, in order to continue trading business, each platform to sea, off-exchange transactions, etc., playing cat and mouse with regulators。   "We are not on the NASDAQ, and NASDAQ we are competing。 "A source close to the fire coins at a party on the block chain such currency quoted by the fire executives words。   This may not fantasy。
In mid-2017, after regulatory pressure of domestic digital currency trading platform, through the "sea", etc., which greatly accelerated the pace of development。
The number of users, transaction size, cost and speed on the currency, were increased more than one level。
At the same time, because the tightening of domestic policy, these trading platforms to explore more in the game kind of development path and supervision in various ways to "walking a fine line", and this continued in the "decentralization" as the slogan of the World the central feature of Exchange。   Not "money circle" who is hard to imagine the profit margins which。   Fee is the main source of profit trading platform, most of the trading platform fee rate of about%, much higher than the brokerage commission rates in the secondary market transactions, profits from it is shocking。   According to figures big data platform of non-monetary data trumpet, January 21, Ann currency turnover ranked third in the world, 24 hours total turnover billion, according to their published% fee, the daily trading commissions that is only income of 17.6 million yuan。
If you keep this level, only the fee income will more than 6.4 billion yuan。
Ranked fourth day of OKEX24 hours total turnover of billion RMB fire pro ranks sixth turnover of one hundred million yuan。   The reality is that the profitability of these platforms will exceed expectation。 An order currency for example, the current currency security of users has exceeded six million, and still high growth。 The number of users and even caused a surge in website operation pressure, January 5, coins An Fagong been suspended new user registration, January 8th from time to time limited registration open。
According to overseas media reports, daily security currency 250,000 new subscribers, Coinbase every day 100,000 registered users, siren every day 50,000 new users registered。
If on the date of 50,000 new users to conservative estimates, the monthly exchange of new user registrations amounted to at least 1.5 million。
  More unimaginable and confidence is now ranked the world's top three trading volume, profitability such huge money safe, established only six months。   Secondly, the project requires a certain cost to the line on the platform, which is a large part of the cost flexible space。 A senior investor told the Securities Times reporters, particularly popular item, the platform will grasp on the basic charge; general project, received 1 million?1% of the five million dollars, or on behalf of the total amount of money?5%; if the ecosystem is home to a collection of some symbolic。
  In addition, some industry insiders told the Securities Times reporter, the high cost of currency Bitcoin requires 100; reporters were told in an interview with the founder of a project, the current token projects in line on a platform to be 10 million yuan。
The above-mentioned investors believe that close to 10 million of the project is absolutely boycott。   Project tokens on-line trading platform, the equivalent of initial public offerings。
However, due to the current lack of regulation of the block chain project, the decision on whether or not to fully grasp the trading platform by the platform, and if the line of well-known exchange projects, obtain endorsement potential, and increase turnover。 Wherein the operating space can be imagined。
  Although each platform have indicated in public statements on-line project went through a rigorous review, an obvious fact is that many poor reputation of items such as wave field, also landed on the currency, including security, fire, including the well-known currency trading platform, and on currency trading platform in speed much faster。   In addition to the conventional way of profit line transaction fees and expenses of the tokens, "currency platform," the new play is the current hot spot, even though the platform "innovative" out of all sorts in the name, but you can not get rid of "disguised ICO" questioned。
  "Fire coins universal integration" (referred to as HT) is the currency of fire introduced points system block chain distribution and management-based, can be used in multi-scene and circulation, the total amount of 500 million, promised never to issuance, not only to send sell, quarterly fire coins Pro will devote 20% of the profits to repurchase。
  HT will fire coins are defined as "private, not the ICO, only send not to sell" in the official announcement and propaganda points, but "only send not to sell" is not a free gift to the user, but through pre-existing purchase fee Package will receive a card。 In addition, the platform will be open HT / USDT, HT / BTC and HT / ETH trading, which means that, HT Like other digital currency can be traded in the trading platform and distribution。   Release similar platforms coins, currency is not the first fire。
  Last July 14, the placement of digital asset trading platform for currency line。 On the front lines, currency security issued the white paper were raised ICO coins。
According to the white paper, currency platform security tokens for the implementation of BNB, the total amount of 200 million, issued by ICO number is 100 million, exchange rules 1ETH exchange 2700BNB, 1BTC exchange 20000BNB, July 15 trading on line。   BNB's ICO start on June 24, according to the prevailing price of ETH and BTC, currently, BNB's price is the price of ICO 100 times。   Some industry analysts believe the platform to launch its own tokens or credits, the main purpose is not to make money, but to attract and retain customers, build their own communities and ecosystems platform。
  And regulatory walking a fine line in the block chain "to the center" of the world, but trading platform acts as a "center" of, there had been thefts trading platform, not only allowing users to suffer serious losses, but also lead digital currency prices plummeted. in addition, the trading platform because the business very opaque, often involved in insider trading, market manipulation and other joint Zuozhuang where the risk can not be ignored。
  January 28, the Japanese digital currency trading platform on Coincheck 5 one hundred million Mei NEM (worth about billion dollars) was stolen by hackers involving 26 million users, following the 2014 event, the largest in the history of virtual currency is one of theft, then Coincheck pause encryption currency withdrawals on platforms other than Bitcoin, money market Pudie。
  Many industry insiders told the Securities Times reporter, a well-known trading platform embezzlement is well known, on the one hand to profit by manipulating the prices in the secondary market, on the other hand by manipulating the levers trading profits, the platform provides up to 10 times leverage, and digital currency fluctuations themselves greatly, up more than 20% decline is very common, when currency price fluctuations, the amplitude of the platform significantly much higher than other platforms, so that users can easily burst positions, the platform can be leveraged transactions get good returns。 On this statement, the reporter in the multi-confirmation have received a positive reply, and all point the finger of blame with a trading platform。   According to September 2017 related to regulatory policy, domestic trading platform is prohibited to provide services lifting charge of legal tender and digital currency, digital currency transactions suffered a brief recession。 To continue related businesses, each platform made in overseas layout and avoid a lot of regulatory design, on the one hand, to provide digital currency trading services through more twists and subtle way OTC, coins currency trading; on the other hand, will be registered to move overseas, to avoid the risk of domestic policy。   In addressing the respective currency exchange transaction method of digital currency, each platform is connected OTC currency and currency trading by USDT tokens。 That is, first by OTC currency exchange as the law USDT, USDT and then through a variety of digital currency exchange。   Only this process will be a lot of hidden risks。 First of all, OTC, the parties to the transaction is usually carried out financial transactions directly through Paypal, micro-letters, bank transfer and other cards, security can not be guaranteed。
  Secondly, with regard USDT, insiders told the Securities Times reporter said it could be a time bomb, once detonated, create a systemic risk money market figures。
  USDT tether issued by the company, announced that it will strictly abide by the 1: 1 dollar reserves guarantee。
At the same time, including the risks identified in the company, the company as a centralized storage of all parties pledged assets, may have escaped bankruptcy or running away, the company opened an account in the bank may go bankrupt or the freezing of funds, the risk of re-centralization of the entire system may be paralyzed。
  In addition, according to Securities Times reporter, in addition to the public risk, the risk of hidden USDT the following areas。
First, the user has no legal way to honor King tether query the adequacy of bank accounts; the second is to ensure that the tether does not promise to honor, in its disclaimer, but also mentioned exempt under any conditions (including when the company went bankrupt liquidation) payment responsibility legal tender; third is the controlling factor USDT circulation not disclosed, whether its destruction mechanism actually run also can not be verified。