What controversies and doubts does Ethereum bring?

There is an essential difference between Ethereum and Bitcoin.

1. Many project parties sell and smash the market, in fact, Ethereum.

The previous surge was also based on the outbreak of the waiter belt in HexiEurope last year, where many startups built projects on Ethereum, and the initial coin offering raised a large amount of Ethereum. Recently, there has been news in the market that there is a stable digital currency that is anchored.

The project party has raised a lot of Ethereum, and it is rumored that there are nearly 100,000 Ethereum, and the selling of these Ethereums is bound to have a great impact on the originally fragile market.

2. The demand for Ethereum has decreased sharply, and Marxist political economy believes that the ** of a certain commodity is determined by its own value, and at the same time it is affected by supply and demand. At present, the supply of Ethereum is the project side's selling, resulting in an increase in the number of products in the market, which will inevitably affect it. The demand for Ethereum is also shrinking significantly, so whether it is supply or demand, it is a negative impact on Ethereum.

3. Ethereum does not empower the physical asset layer, and when it comes to this reason, it returns to the category of Marxist political economy, that is, the fundamental reason for determining Ethereum** is its value. Whether a project has value depends on whether it empowers the asset layer and whether it empowers the real economy.

Extended Materials. 1. Ethereum is an open-source public blockchain platform with smart contract functions, through its dedicated cryptocurrency.

Ether provides a decentralized Ether Virtual Machine.

to process peer-to-peer contracts. The concept of Ethereum was first introduced to Bitcoin in 2013-2014 by Stepby programmer Vitalik Buterin.

Inspired by the idea, it is roughly called "the next generation of cryptocurrency and decentralized application platform", which began to develop in 2014 through ICO crowdfunding. As of February 2018, Ether is the second-highest cryptocurrency by market capitalization, after Bitcoin.

2. Bitcoin has created a precedent for decentralized cryptocurrency, and has fully tested blockchain technology for more than five years.

feasibility and safety. Bitcoin's blockchain is in fact a distributed database, and if you add a symbol to it, Bitcoin, and stipulate a protocol that allows this symbol to be securely transferred on the database, and destroy it without trusting a third party, the combination of these features perfectly constructs a currency transmission system - the Bitcoin network.

Legal. Because virtual property is protected by law in our country. However, China's supervision of virtual currencies is still insufficient, which also makes investing in virtual currencies risky, so investors need to be cautious.

In addition, the blockchain service provider in China will be responsible for maintaining six-month records of all content on the platform, which will be regularly checked by the Internet Information Office in the specific area where the blockchain company is located. These governing bodies are under the direct control of China. Any company found to have violated these new rules will be fined or even prosecuted.

Ether is a digital token of Ethereum, regarded as the Bitcoin version, using Ethereum, a different blockchain technology from Bitcoin, developers need to pay Ether to support the operation of the application, and Ether is currently a very hot digital currency, more and more people have joined the ranks of mining, but due to the uncertain rise of digital currency, it has attracted the attention of banks.

The People's Bank of China, the Cyberspace Administration of China, the Supreme People's Court, the Supreme People's Procuratorate, the Ministry of Industry and Information Technology, the Ministry of Public Security, the State Administration of Market Regulation, the China Banking and Insurance Regulatory Commission, the China Securities Regulatory Commission, and the State Administration of Foreign Exchange jointly issued the Notice on Further Preventing and Handling the Risk of Speculation in Virtual Currency Trading.

The notice makes it clear that virtual currency does not have the same legal status as legal clearance currency, and virtual currency-related business activities are illegal financial activities. The Notice points out that virtual currencies such as Bitcoin, Ethereum, and Tether have the main characteristics of non-monetary authority issuance, the use of encryption technology, distributed accounts or similar technologies, and the existence in digital form, which are not legally compensable, and should not and cannot be used as currency in the market. Virtual currency-related business activities are illegal financial activities.

It is strictly forbidden to carry out illegal financial activities such as illegal sale of token coupons and unauthorized public offerings, such as conducting legal tender and virtual currency exchange business negotiations, exchange business between virtual currencies, buying and selling virtual currencies as a counterparty, providing information intermediary and pricing services for virtual currency transactions, token issuance and financing, and virtual currency derivatives trading.

In order to effectively prevent and deal with the risks and hidden dangers caused by the blind and disorderly development of virtual currency "mining" activities, further promote energy conservation and emission reduction, and help achieve the goals of carbon peak and carbon neutrality as scheduled, on September 24, the National Development and Reform Commission and other 11 departments jointly issued the "Notice on Rectifying Virtual Currency "Mining" Activities. The "Notice" contains a clear spine, and comprehensively sorts out and investigates virtual currency "mining" projects. It is necessary to strengthen the dual control constraints on energy consumption of new virtual currency "mining" projects, and list virtual currency "mining" activities as an eliminated industry.

Legal analysis: illegal, *** The Financial Stability and Development Committee mentioned that it will resolutely prevent and control financial risks and crack down on bitcoin mining and trading.

Legal basis: Announcement of the Internet Finance Association of China, the China Banking Association, and the Payment and Clearing Association of China on Preventing the Risk of Speculation in Virtual Currency Transactions

1. Correctly understand the essential attributes of virtual currency and related business activities.

Virtual currency is a specific virtual commodity, which is not issued by the monetary authority, does not have monetary attributes such as legal compensation and compulsion, is not real currency, and should not and cannot be used as currency in the market.

Carry out legal tender and virtual currency exchange and exchange business between virtual currency, buy and sell virtual currency as a counterparty, provide information intermediary and pricing services for virtual currency transactions, token issuance and financing, virtual currency derivatives trading and other related trading activities, violate relevant laws and regulations, and are suspected of illegal fundraising, illegal issuance, illegal sale of token tickets and other criminal activities.

2. Relevant institutions shall not carry out business related to virtual currency.

Financial institutions, payment institutions and other member units shall effectively enhance their social responsibilities, and shall not use virtual currency to price products and services, shall not underwrite insurance business related to virtual currency or include virtual currency in the scope of insurance liability, and shall not directly or indirectly provide customers with other services related to virtual currency, including but not limited to: providing customers with services such as virtual currency registration, trading, clearing, and settlement; accept virtual currency or use virtual currency as a payment and settlement instrument; Carry out virtual currency exchange services with RMB and foreign currencies; Carry out the storage, custody, mortgage and other businesses of virtual currency; Issuance of financial products related to virtual currencies.