The Biggest FUD and FOMO Moments in Crypto 2019

The crypto industry, Bitcoin, blockchain, and any of its varieties is driven primarily by hype and speculation as the emerging technologies underlying each asset are often too new or unproven to yet provide a realistic valuation.

Due to this, the constant ebb and flow of FUD and FOMO often dictate market movements and turn major losers into top market gainers almost overnight. Here’s a look at the past year’s biggest FUD and FOMO-driving moments.

Crypto and Bitcoin’s Biggest FUD and FOMO Moments of 2019

FUD is an acronym for fear, uncertainty, and doubt. FOMO is an acronym for the fear of missing out. The two factors regularly provide the push or pull pressure on the market that causes crypto asset prices to fluctuate.

Some events, cause a widespread occurrence of panic-buying, where investors stack up on an asset without any regard for risk or potential loss, much like was seen at the height of the crypto hype bubble.  Others, cause panic-selling, where investors dump their crypto fearing a devastating crash where as much as 99% of an asset’s value is wiped out.

Both are common occurrences that take place often throughout crypto, and here are some of the year’s most impactful of those moments.

China Endorses Blockchain

Just as Bitcoin had fallen to new local lows, confirming that Bitcoin’s uptrend was kaput, Chinese President Xi Jinping spoke out in support of blockchain technology, telling his citizens his country needed to remain on the forefront of developing the future of the budding technology. Crypto whales saw this as an opportunity to cause a splash in Bitcoin and cause a short squeeze of epic proportions. However, the resulting FOMO from China’s support of “crypto” caused Bitcoin to set a record for its third-largest single-day gain in the asset’s young history. No other moment in 2019 caused more extreme and abrupt FOMO.

Facebook Libra Launch

Facebook Libra is a story of FOMO turned FUD. The year kicked off to rumors swirling that Facebook was hard at work developing a cryptocurrency of its own, under Mark Zuckerberg’s order. However, once the social media giant made the big reveal, the entire political world turned on the corporation and feared the complete monopoly over privacy it could one day have if it gains access to user’s transaction data, in addition to all of the behavioral patterns the company already secretly captures.

Trump Tweets About Bitcoin

Following the controversy that Facebook Libra kicked up, United States President Donald Trump tweeted about Bitcoin, Facebook Libra, and crypto as a whole, suggesting that they were used for illicit crimes. And while there’s no denying the leader of the free world talking about crypto is important, it’s not wise to ignore that it was said in a negative tone. In fact, Trump’s tweet almost perfectly coincided with Bitcoin’s recent rally top.

Binance Blocks US Users From Flagship

When Binance announced it would be blocking US-based investors from trading using its flagship platform, fear, uncertainty, and doubt took over the altcoin market, causing a massive selloff and widespread capitulation. With crypto regulation suddenly a hot topic, and with industry leaders shutting out their biggest customer base without much explanation, things indeed got scary. Everything turned out okay, with the company launching its own US platform that is growing each day, but for a while there, the crypto market was certainly spooked and asset prices reflected this.

Bakkt Launch Hype and Failure

No story was more hyped in 2019 but resulted in more of a dud, then Bakkt. The Bitcoin futures trading platform from the parent company of NASDAQ was a hot button issue dating back to 2018 when it was first announced, and most of the crypto market expected the sudden influx of institutional investors it would create would be enough to cause Bitcoin to immediately embark on a new bull run. However, Bakkt launched to abysmal trading volume, and the day it launched Bitcoin fell by nearly $2,000 in a single day, showing that even the biggest FOMO moments can quickly turn into FUD.

Is your favorite moment missing from the list? Comment below!

Why is Bitcoin Price Growing Slower and Slower?

The potential short-term and long-term growth prospects of bitcoin can be gauged from the ongoing price activity. BTC price is facing increasing resistance on its way up. Volatility is decreasing with time. What does this mean for bitcoin’s overall outlook? 

In his latest article, entrepreneur, engineer, and bitcoin optimist Harold Christopher Burger deeply analyzed the supposed reason behind BTC’s stunted market growth. As per his inference, two things become clear regarding bitcoin’s recent price evolution:

  • The case for bitcoin’s diminishing yearly returns is growing stronger
  • Bitcoin price fluctuations are becoming less extreme in the short term

A plausible explanation for the observations is investment capital. It takes more and more fiat currency to move BTC’s price higher. Apparently, it is becoming increasingly difficult to find the requisite capital to do so.

In HC Burger’s words:

Moving the price of bitcoin from $0.1 to $1 was possible with relatively few dollars. Moving the price of bitcoin from $1000 to $10000 required much more capital. This effect slows the potential growth of bitcoin in both the long- and short-term.

Future bull markets are expected to be much slower and long term bitcoin returns will be less as per the published study.

Capital to Move Bitcoin Price Not Easily Available

Gone are the days, when it was relatively easier to bring significant changes in the bitcoin price action. BTC trading was not physically possible until July 17, 2010. Then when bitcoin’s price was around $0.1, increasing BTC’s valuation by 100 percent required less capital. The situation wasn’t the same when the benchmark crypto’s price rose from $10,000 to $20,000 in late 2017 – early 2018, and earlier this year.

Although the rallies were mostly fuelled by retail interest and the ICO boom, the inflow of capital was sumptuous, resulting in a terrific surge of the total cryptocurrency market cap to around $800 billion.

capital for btc growth difficult

This would be highly improbable now, as ‘attracting more and more people to invest in bitcoin, or finding exceptionally wealthy investors will become more and more difficult. Although institutional investment in bitcoin and the crypto market is expected to rise manifold according to noted global fintech leaders.

Just not long-term price growth even short-term explosive rallies will become increasingly less as volatility will reduce and bull markets will take longer timeframes to develop.

short term price growth

There’s Still Light at the End of the Tunnel

Mr. Burger’s analysis is heavily drawn from the bitcoin price model that considers growth with diminishing returns. That also puts all outrageous BTC predictions to rest, as they (over the top predictions) consider that bitcoin’s price will never slow down and always keep growing.

However, all hope is not lost. Even though the non-diminishing price model does not guarantee humongous returns, bitcoin will still continue to grow from strength to strength and outperform most traditional assets.

Bitcoin’s astounding growth over the last decade was covered today by Bloomberg. This is reminiscent of the fact over a considerable period of time, in spite of numerous bull and bear market cycles, Bitcoin’s long-term promise remains strong.

How do you think will bitcoin’s price grow over the next decade? Share with us your thoughts in the comments below! 

Images via Shutterstock, Medium: Harold Christopher Burger

In Race for 2030 Currency Supremacy, the Dollar Is Its Own Worst Enemy

The U.S. dollar’s century-long reign of the world economy faces a threat over the coming decade – as China’s renminbi strives to become its successor, as some prominent central bankers call for a more sustainable global monetary regime and as cryptocurrencies pose a radically alternative model. 

But as the 2020s begin, the dollar looks as strong as ever in global capital markets.

As of Dec. 30, an index of the U.S. dollar’s value is up 24 percent over the past decade, even as the Federal Reserve pumped more than $2 trillion of freshly printed money into the financial system and U.S. national debt more than doubled to about $23 trillion.

The greenback’s share of central bank foreign exchange reserves stands at about 62 percent, unchanged since Jan. 1, 2010, according to the International Monetary Fund. The second-place euro, touted by some leading economists in the late 2000s as a potential rival to the dollar, saw its share of central bank reserves decline over the past decade to about 20 percent from 26 percent.

The Japanese yen, seen as a threat to the dollar in the 1980s, now accounts for just 5.4 percent of central bank reserves. The British pound, which dominated global markets for a century until World War I, has a modest share of 4.4 percent, with its future uncertain as the U.K. moves toward an exit from the European Union. And China, despite decades of rapid economic growth and a push by authorities there to expand the renminbi’s use in international trade and payments, has never seen its currency account for more than 2 percent of central banks’ reserves.

As for digital assets, frequently touted as the future of money, they barely register as an asset class compared with government-issued currencies. Bitcoin’s entire market value stands at about $133 billion, well below central banks’ de minimis $218 billion allocation to the renminbi. 

Signs of decline?

The dollar’s dominance is under attack, though, as a growing number of economists and world leaders say the international monetary and financial system looks unsustainable or simply unfair.

U.S. consumers benefit disproportionately from the dollar’s strength, since foreigners are essentially subsidizing Americans’ habit of importing more than they export. 

And global demand for dollar-denominated assets helps keep interest rates low on things like Treasury bonds despite a U.S. federal budget deficit of more than $1 trillion a year. That dynamic encourages governments, businesses and households to take on ever-growing amounts of debt, which might be difficult to pay back if borrowing costs suddenly jumped.

Thus far the dollar has defied decades of predictions that its demise might be at hand.   

“It’s like the shepherd crying wolf,” said Martin Baily, a senior fellow in economic studies at Brookings Institution who served during the late 1990s as chairman of President Bill Clinton’s Council of Economic Advisers. “Unfortunately, sometimes the wolf does come.” 

The U.S. dollar’s share of central bank foreign reserves.

Few events of the past year encapsulated the glaring contrast between the dollar’s solidifying position and the ever-louder calls for change than a speech in August by Bank of England Governor Mark Carney. An Oxford University-trained economist, Carney is widely followed among top monetary experts because he previously served both as head of Canada’s central bank and as a former executive of the Wall Street firm Goldman Sachs.

Invited as a guest speaker to an annual Federal Reserve retreat in Wyoming, Carney told the U.S. central bankers that the dollar’s dominant status contributes not just to instability in emerging-market countries but also to a “global savings glut” that has helped push interest rates artificially low. The speech piled onto the worries for Fed Chair Jerome Powell, already facing caustic criticism from President Donald Trump for setting interest rates too high. 

“Past instances of very low rates have tended to coincide with high-risk events such as wars, financial crises and breaks in the monetary regime,” Carney said. “Left unattended, these vulnerabilities are only likely to intensify.”

The solution? According to Carney, the international monetary system might benefit from an alternative to the dollar such as a “synthetic hegemonic currency,” potentially provided “through a network of central bank digital currencies.” 

“The concept is intriguing,” Carney said. “Technology has the potential to disrupt the network externalities that prevent the incumbent global reserve currency from being displaced.” 

Jens Nordviq, a former co-head of currency strategy for Goldman Sachs and now CEO of the data provider Exante, says the fact that “very prominent people” like Carney are seriously discussing the concept “shows that it’s not a farfetched idea.”

A century of domination

The dollar emerged as the world’s dominant currency during the early 20th century when it took over from debt-strapped Britain’s pound; a century before that, Holland’s guilder was undone by the French Emperor Napoleon’s invasion.

Today, the dollar is ubiquitous as ever. Banks around the world stockpile dollars so they can meet demand from local businesses and residents for the currency to use in commerce and payments. Central banks stockpile dollars and dollar-denominated assets like U.S. Treasury bonds so they can meet the needs of local banks for, well, dollars.

Cross-border bank loans denominated in dollars garnered a world-leading 14 percent share of the total in 2018, from 9.5 percent a decade earlier, according to the Bank of International Settlements. U.S. Treasury bonds comprise the world’s biggest government bond market by far, valued at about $17 trillion and growing. Major global commodities like oil and gold are priced in dollars. 

“There is no other asset market as deep or liquid as the dollar asset market,” said Eric Winograd, senior economist at AllianceBernstein, a $592 billion U.S. money manager. 

Bitcoin too is generally quoted in dollars, along with a growing roster of digital “stablecoins” whose value is linked to the U.S. currency. Facebook’s proposed digital asset, Libra, would reportedly be 50 percent backed by dollars

Even China’s planned digital renminbi – reportedly part of an effort to unseat the dollar’s dominance – might just trade like a dollar proxy. That’s because, at least for now, authorities peg the renminbi’s value to an index of major currencies dominated by the U.S. dollar. 

“The renminbi is at this point not really in the running,” said Edwin Truman, a senior fellow at the Peterson Institute for International Economics who oversaw the Federal Reserve’s division of international finance from the late 1970s through the late 1990s. “The Chinese seem to be pushing it as a denomination for trade, but that’s largely a push rather than a pull of the market.”

After U.S. economic output caught up with Britain’s in the early 20th century, it still took two-and-a-half more decades for the dollar to definitively replace the pound as the reserve currency of choice. Harvard University economist Jeffrey Frankel has attributed the lag to “inertia” – essentially the cost and bother of changing routine payment methods and rewriting legal contracts. 

“There’s a lot of discussion of substitutes for the dollar as the global reserve currency,” said Bill Adams, senior international economist for the U.S. bank PNC. “But the lesson of the last 10 years is that, at least to me, it’s easier said than done.”

Disclosure Read More

The leader in blockchain news, CoinDesk is a media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. CoinDesk is an independent operating subsidiary of Digital Currency Group, which invests in cryptocurrencies and blockchain startups.

Inside the Osaka Conference Where Crypto Got Serious About FATF’s ‘Travel Rule’

This post is part of CoinDesk’s 2019 Year in Review, a collection of 100 op-eds, interviews and takes on the state of blockchain and the world. Leah Callon-Butler is the director of Emfarsis, a consulting firm focused on the role of technology in advancing economic development in Asia.

There he was, belting out Fats Waller jazz vibes like it was nobody’s business: Roger Wilkins, the former president of the Financial Action Task Force (FATF). 

We’d just completed a practice run for the next day’s V20 Summit, and while the rest of us were exhausted and ravenous, sniffing out dinner options, Wilkins relished the opportunity to jump behind the keys of a lonely baby grand at the farthest end of the Grand Ballroom at the Hilton Osaka. Leaving my run-sheet behind, I sidled up to catch an impromptu performance from the man who once steered international standards in the fight against money laundering, terrorist financing and the proliferation of weapons of mass destruction.

“I usually play Bach or Chopin,” Wilkins said, wrapping up his medley.

The next morning, more than 100 of the world’s most formidable figures in crypto compliance assembled to unpack one of the most pivotal regulatory developments in the history of our fledgling industry. Held June 28-29, 2019 in parallel to the G20 Leaders’ Summit in Osaka, Japan, the V20 Summit was a chance for the industry to respond to a highly controversial new set of recommendations handed down by the FATF.

Some saw it as an opportunity to legitimize crypto and bring virtual assets into the mainstream financial system; others feared an assault against our community’s most fundamental values of privacy and decentralization. CoinDesk’s Marc Hochstein told me via Twitter DM he thought it might be a bigger story than Facebook’s recently announced Libra. Another journalist suggested it might be crypto’s Bretton Woods moment.

Recommendation 16 was the one causing all the ruckus. As per the FATF’s new guidance, Virtual Asset Service Providers (VASPs) would be required to identify the sender and recipient on either side of a crypto transaction. Known as the “Travel Rule” due to the fact that data that must “travel” along with a traditional wire transfer, international banks and financial institutions had been forced to comply with these standards since the mid-1990s, giving law enforcement greater transparency and traceability to combat financial crime. And while the vast majority of major crypto exchanges already have Know Your Customer (KYC) policies in place for remitters, including beneficiaries opened up a Pandora’s Box of complexity. In any case, the FATF delivered their directives in Osaka, giving G20 member countries a tight 12 months to implement the guidelines, with a review set for June 2020.


“It would have been nice for these FATF recommendations to be more accommodating to the sector but time constraints effectively ruled that out,” said Siân Jones, co-founder of xReg Consulting. “The major nations of the world got together to set that timetable and the FATF policy group had very little time to develop something more tailored to virtual assets.”

Jones, a self-described poacher-turned-gamekeeper-turned-poacher, has worked both sides of the regulatory fence and has watched the whole thing unfold over the past few years. She said the resulting guidelines were not as draconian as they might have been, were it not for the technical experts in that policy group – herself included – that were able to provide some balance. 

During her technical overview on the implications of the FATF guidance, Jones congratulated VASPs at the V20 on being included in the global financial system. She said this might come with some benefits, such as making it easier for VASPs to get bank accounts, but it would also come with responsibilities. The critical piece now was to find the most appropriate strategies to help the industry develop and innovate in ways that still meet public-policy objectives to thwart money-launderers and terrorists.

“This is a rapidly evolving landscape where regulators and industry just have to catch up with the new reality,” said Jones, who was also instrumental in enacting blockchain-friendly legislation in Gibraltar. Her presentation to the V20 opened with a warning slide: 

Wake up! Smell the coffee!

“The V20 was a great effort to bring the world of crypto together in one room with FATF on the sidelines of the G20,” said Bénédicte Nolens, advisor to Circle, who said that even though crypto-assets have presented a great challenge to traditional finance, they have also opened up opportunities that will continue to evolve in the years ahead.

“We have to keep in mind that the goal of Anti-Money Laundering (AML) regulation is not to impose unnecessary process, but rather to demand process, so that the most nefarious activity in the world is starved for funding,” Nolens said. Examples of this could be slavery and the drug trade as well as terrorist activity.

A month prior, Nolens was at the FATF Private Sector Consultative Forum in Vienna, invited to present on Recommendation 16. There, she reiterated the importance of a globally-coordinated and consistent approach to implementing the new regulations in G20 member countries, to avoid a situation where firms might try to sidestep the new rules via regulatory arbitrage or through moving jurisdiction, known as “island hopping.”

She also explained how there was currently no crypto equivalent to the International Bank Account Number (IBAN) system, which is what banks use to achieve compliance with the Travel Rule, so VASPs would be forced to come up with something new. Further, Nolens observed that coordination would be tricky, given the still very nascent, albeit global nature, of the crypto industry. 

“It’s true the cryptocurrency sector isn’t very used to talking to regulators, and it can be very hard and very time consuming to build a constructive relationship between companies and their regulators,” said FATF Senior Policy Analyst Tom Neylan, who showed up alongside Wilkins, ready for a grilling from top VASP execs from Circle, Coinbase, Coincheck, bitFlyer, Kraken, BitMEX, Huobi, OKCoin, Bitfinex, Bithumb,, BITPoint, Liquid and more. “But it’s a critical step we have to go through if cryptocurrencies are going to become a real part of peoples’ daily lives.”

At the V20, Neylan told attendees that regulation can be a good thing for industry; it’s not something we should fear. 

“The fear was that these new rules would force VASPs out of business,” said Ronald M. Tucker, convener of the V20 and founder of the Australian crypto exchange Bit Trade. “This risked driving the industry back underground and into dark markets, which, ironically, would make it even more difficult for law enforcers and regulators to do their job.”

Tucker was quick to realize the true gravity of the FATF intervention, as he dealt with a similarly existential threat back in 2014, when Australia was grappling with the issue of double taxation. The rules meant consumers were taxed at the time of buying crypto, and again later, when they used it to purchase items subject to local goods and services tax.

Many exchanges thought that the new rules wouldn’t apply to them.

To tackle the problem, the blockchain community needed clear direction and leadership, and at the time, there was no such vehicle. This moved Tucker to form the Australian Digital Currency Association (ADCA), with the goal of coordinating key stakeholders to develop a robust governance framework to organize all sectors. ADCA was to become a unified voice for the burgeoning industry, ensuring commercial operators were aligned, media were informed and government was educated.

Recently rebranded to Blockchain Australia, today the organization is recognized globally as a leader in regulatory engagement and best practice. And so, with the FATF rules pending implementation, and a lack of global coordination taking place, a sense of déjà vu gave Tucker the impetus to elevate ADCA’s proven formula to a global stage.

A community effort

It was just after CoinDesk’s Consensus 2019 in New York City when Tucker mobilized the core V20 organizing team – including myself, Anson Zeall of ACCESS Singapore, Philippe Le Saux of GMI Post, Nathan Smale of Emfarsis Consulting and the futurist Mark Pesce, well-known for his podcast, The Next Billion Seconds, who championed the role of Summit Chair.

We had less than seven weeks to pull the whole thing together, and at the beginning, our outreach efforts were met with some skepticism. For the VASPs that had actually heard about the FATF issue (most hadn’t, so that required a considerable education effort on our part), many thought that the new rules wouldn’t apply to them. Or, they thought their time and money would be better spent lobbying against the FATF.

“We spent a lot of time rallying the community to stop petitioning against the Travel Rule and start collaborating toward a compliance solution of the industry’s own design,” said Teana Baker-Taylor, executive director of Global Digital Finance (GDF), an industry membership body that sets out standards and best practices for blockchain and digital assets.

GDF members knew the FATF’s hasty timeline and global coordination requirements posed a significant risk to the industry, especially given the additional operational and commercial costs of compliance. But it was also the perfect imperative to finally get the crypto compliance clique working together on a globally interoperable solution. As such, GDF was one of the first to lend its support to Blockchain Australia and ACCESS Singapore to help get the V20 off the ground.

“As a community, we talk about mainstreaming and mass-scale adoption, but it’s often inside our own echo chamber,” said Baker-Taylor, who was named Blockchain Leader of the Year at the 2019 Women in Tech Awards. “If we want the future to reflect our ideals, we’ve got to take some responsibility and step up to educate policymakers, as opposed to resisting them.”

When a trio of policymakers pledged their support to the V20 – namely ex-FATF President Wilkins, Japanese Congressman Naokazu Takemoto and Taiwanese Congressman Jason Hsu – we observed a ripple effect throughout the industry, with huge momentum building among the VASPs. Behind the scenes, we were working like mad to rejig the agenda for Day 2 to accommodate Hsu’s schedule. Hellbent on speaking at the V20, he’d have to fly straight to Osaka from Washington, D.C., where he’d been participating in the U.S. Department of State’s International Visitor Leadership Program and other key think-tanks discussing major industry developments, such as Libra. 

“I felt I needed to be there to support industry and act as a bridge between them and the policymakers and regulators,” said Hsu, who was nicknamed “The Crypto Congressman” by Vitalik Buterin in 2018. Coming from a background in entrepreneurship, Hsu is a rare breed of politician, uninhibited by the usual glacier-pace of government innovation.

“If we want to go long on this industry, we need to regulate, but the current government are still scratching their heads on how best to do it,” said Hsu. He believes FATF will ultimately shed a positive light on the crypto industry, which still struggles to shake its associations with the darknet.

In the absence of clear guidance, Hsu said it’s critical for industry players to lay down the guardrails.

“This industry is prone to security infringement and the crypto operators have to look that truth square in the eyes,” said Hsu, with a nod to the hacks, data leaks and other security hazards making headlines every other day. “If we set the bar high and pave the way for the industry to be formalised, we will see less and less misunderstandings about the true qualities of crypto from the public as well as governments. The VASPs must bring their determination to the table to fix this.”

The site for the V20 Summit was apt. After all, Japan is home to the two biggest crypto exchange hacks in history: Mt Gox and Coincheck. These hefty security breaches ultimately led to Japan’s proactive stance on VASP regulation, becoming the only nation in the world to grant legislative status to its self-regulatory body, the Japan Virtual Currency Exchange Association (JVCEA). The Financial Services Agency (FSA) was the regulatory body behind the establishment of JVCEA in October 2018. Both JVCEA and Japan’s Ministry of Finance were on the speaker lineup for the V20, together with representatives from public sectors including FSA and the Australian Government agency, AUSTRAC. 

“The impact of hacking tends to be bigger than that of ordinary crypto-related money laundering transactions in terms of amount,” said Katsuya Toshihiko, who was the president of Coincheck when he attended the V20. The target of a major hack in January 2018, Coincheck had 500 million NEM tokens stolen by hackers, worth an eye-watering USD $530 million at the time. He says that “painful” experience is what triggered Coincheck’s deep sense of social responsibility and seriousness about responding appropriately to the FATF’s new guidance.

Yuzo Kano, representative director of the Japan Blockchain Association and co-founder of bitFlyer, an exchange, says it was Japan’s troubled history that motivated it to put its security protection and compliance standards under the microscope.

“Today, Japan is two to three years ahead of the rest of the world when it comes to self-regulation,” Kano said, demonstrating how painful circumstances can lead to innovation, provided we embrace the discomfort and look for growth opportunities. Kano spoke at the V20 about the contributions JBA has made, including its strong backing for the establishment of JVCEA as well as a Cryptoassets Governance Task Force aimed at developing safety standards for consumer protection. 

Drawing insights from Japan’s story, V20 participants broke into groups to workshop a blueprint for the requirements of a technical solution that could satisfy the FATF (rather than prescribing any specific product, brand or service provider). A key outcome of these discussions was that the industry needed a governing body to represent its interests at an international level. As such, the International Digital Asset Exchange Association (IDAXA) was established as a vehicle to continue proactive engagement with the FATF.

Since the V20, more organizations have joined the initiative, and now, IDAXA represents the national blockchain associations of Australia, Singapore, Taiwan, Hong Kong, Korea, Switzerland and JBA and JVCEA from Japan.

Work to do

To arrive at something that satisfies the FATF Recommendations while still being workable for business, a sustained industry-led effort is necessary to ensure the blockchain community’s ethos of decentralization is upheld and consumer privacy is protected above all.

The V20 was an early catalyst but the work is far from done. Most VASPs are still coming to grips with how to comply and how much it’s going to cost, especially all those smaller firms that are struggling to navigate a jumble of regulatory regimes and requirements with less staff and less resources. Meanwhile, a slew of exchanges have already delisted privacy coins such as Monero and Zcash due to regulatory pressure. 

Despite the near-term hurdles, it’s widely believed that the crypto sector’s strong tech focus can actually help achieve FATF’s goals to stymie financial fugitives. Further, industry frontrunners in the race to compliance believe that FATF compliance and data privacy needn’t be mutually exclusive.

In any case, with the big review due in June 2020, there is a very real need to demonstrate progress and a number of groups around the world are working tirelessly to ensure we have the necessary languages, protocols and products to make sense of this new chapter. So by the time the V20 convenes again, at the G20 Leaders’ Summit in Riyadh, November 2020, we could be another step closer to seeing crypto go mainstream.

Disclosure Read More

The leader in blockchain news, CoinDesk is a media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. CoinDesk is an independent operating subsidiary of Digital Currency Group, which invests in cryptocurrencies and blockchain startups.

Some Parity Ethereum Nodes Not Syncing, Parity Suspects an Attack


Some Parity Ethereum Nodes Not Syncing, Parity Suspects an Attack


Various users have been reporting Ethereum nodes running on Parity Technologies’ ETH Client have been “randomly falling out of sync.” After investigation the issue, Parity issued an emergency fix warning an attack may be underway.

According to blockchain services firm Bitfly, multiple reports pointed out nodes using Parity seemingly simply stopped synchronizing with the Ethereum mainnet. Responding to Bitfly’s tweet one user confirmed his nodes stopped syncing, but restarting Parity seemed to be a temporary fix.

The issue seems to have first been spotted on mainnet block 11355 after GitHub user Peter Prascher revealed on the platform his client would stop syncing and only resumed after a restart, showing errors when it wasn’t keeping up with the Ethereum blockchain.

Parity Technologies reacted to the reports revealing that after investigating them, it found “there may be an attack underway.” In response it issued a new release.

The organization has urged all of its users to update to the newest version as soon as possible, whether or not they’re experiencing issues with their Ethereum nodes. Shortly after ETC Cooperative asked Ethereum Classic Parity node operators to upgrade as well, adding the vulnerability also affected the cryptocurrency.

ETC Cooperative later explained how the attack worked:

The attack used a cache poisoning vulnerability, where a carefully crafted invalid block could stall the Parity-Ethereum client. MultiGeth and Hyperledger Besu are not vulnerable.

The attack came shortly before the Ethereum network is set to undergo a scheduled hard fork, dubbed “Muir Glacier.” The update has been scheduled for block number 9,200,000, which is expected to occur on January 1, 2020.

The hard fork will delay the planned increase of Ethereum’s mining difficulty, dubbed the “Ice Age” by an estimated 611 days. The goal is to prepare for the cryptocurrency’s transition from a Proof-of-Work (PoW) consensus algorithm to a Proof-of-Stake (PoS) consensus algorithm.

Featured Image Credit: Photo via

Bitcoin 2020 — Blockchain’s New Year Resolutions

What can I do to prevent this in the future?

If you are on a personal connection, like at home, you can run an anti-virus scan on your device to make sure it is not infected with malware.

If you are at an office or shared network, you can ask the network administrator to run a scan across the network looking for misconfigured or infected devices.

Bitcoin Price Yearly Candle Shows Failed Rally, Longest Wick on Record

Today’s mid-week daily close in Bitcoin price charts carries significantly more weight than usual, as New Year’s Eve marks the last day of the calendar year, and the crypto asset’s yearly candle close.

If the leading crypto asset by market cap closes today at current prices around $7,250, the yearly candle will close with the largest wick on record, clearly showing the failed parabolic rally that occurred around mid-year 2019.

Bitcoin Price Chart: Yearly Candle Closes Tonight

Bitcoin price charts can be viewed across multiple timeframes, with the most significant being given to the largest and longest timeframes.

Crypto traders and analysts often pay particularly close attention to daily, weekly, or monthly price charts in order to get a better grasp on the market and the trend underway.

Related Reading | Past Performance Shows Bitcoin Historic High Could Serve As True Bear Market Bottom

And while yearly price charts aren’t as oft used as the other, longer timeframes, they can be helpful in looking at the bigger overall picture.

One crypto analyst has shared a yearly Bitcoin price chart on Twitter and invited others from the community to do what they do best and speculate on what the yearly candle close means for the crypto asset, and what is expected for the following year’s close.

The candle itself while green does show a failed rally in the form of a massive wick that stopped at prior yearly resistance. The wick is also the largest ever recorded in Bitcoin price on yearly candles, as even 2017’s peak has a $6,000 range from wick peak to candle body close, whereas this year’s reaches from the current price of $7,250 all the way to $14,000 – representing a $6,750 long wick.

What Does This Year’s Candle Close Tell Crypto Analysts?

Analysts responding to the thread suggest that because this year’s candle is closing at under 50% of 2017’s candle, 2020’s yearly close is expected to be red.

For 2020 to close red, Bitcoin price would need to end next year lower than whatever the price closes at when the clock strikes 7PM ET tonight. Another year of sideways or downtrend would likely be too much for many crypto investors who have been holding through two full years of a bear market already.

Others, however, say that the next year’s candle will close green, filling out the wick of 2019 with continued price action until Bitcoin eventually sets a new high.

Related Reading | Here’s What $100 in Bitcoin Would Have Made Next To The Decade’s Best Investments 

While many crypto investors are already thinking about 2020, Bitcoin price still needs to close the daily candle tonight to put 2019 in the history books for good, and set its sights on a new year or trading.

Featured image from Shutterstock

Regulatory Roundup: China Blockchain ETF, France New Crypto Rules, Tokens Like Money in Russia

Regulatory Roundup: China Blockchain ETF, France New Crypto Rules, Tokens Like Money in Russia

Regulatory Roundup: China Blockchain ETF, France New Crypto Rules, Tokens Like Money in Russia

In this roundup, we cover Russia’s supreme court recognizing tokens as assets like money and property, France’s new crypto regulatory framework, and several industry developments in China, including a blockchain ETF filing. We also cover Japan’s world conference for decentralized financial governance, Uzbekistan’s crypto ban, and four countries’ central bank digital currency updates.

Also read: Regulatory Roundup – New US Crypto Bill, France’s 1st Approved ICO, Muslim Crypto

China’s Blockchain ETF and Crypto Warnings

The China Securities Regulatory Commission revealed on Dec. 24 that it had received an application for a blockchain exchange-traded fund (ETF) from Shenzhen-based asset manager Penghua Fund. According to Chinese media, if successfully launched, this fund will be China’s first blockchain ETF. It will track the performance of the blockchain index recently launched by the Shenzhen Stock Exchange, one of the two key stock exchanges in mainland China. The index comprises stocks of the largest 50 companies listed on the exchange with blockchain ventures, ranked by market capitalization.

On the same day, Reuters reported that China will expand the scope of its blockchain cross-border financing pilot platform. The government will also “push forward a prospective study on foreign exchange reforms to deal with cryptocurrency and explore the construction of the foreign exchange regulation and technology system under the new situation,” explained Lu Lei, deputy head of the State Administration of Foreign Exchange.

While blockchain friendly after President Xi Jinping openly advocated for the technology, the authorities in China continue to scrutinize crypto businesses. On Dec. 27, four regulators in Beijing jointly issued a warning regarding cryptocurrency trading and related activities in their jurisdictions. It reiterates the September 2017 announcement made by seven Chinese ministries, including the People’s Bank of China (PBOC), which led to the closing of crypto and initial coin offering (ICO) trading platforms in the country. Recently, the PBOC’s Shanghai Head Office also issued a similar notice reminding people that the seven ministries’ order is still effective.

The crypto mining industry is also under scrutiny by Chinese regulators. In Sichuan, the authorities went after crypto miners to save electricity in the dry season. In the city of Tangshan, Hebei province, the police recently seized 6,890 bitcoin mining rigs and arrested a group of scammers.

Russian Supreme Court Recognizes Tokens as Assets Like Money or Property

The Russian supreme court has clarified that “digital rights,” the term currently used to describe cryptocurrencies and tokens in Russian law, can be a subject of bribes similar to fiat money, property, and other assets. While Russia currently does not have a regulatory framework for cryptocurrencies, various institutions in the country, including the courts, have previously characterized them as “money surrogates” which are banned by Russian law.

Meanwhile, Russia’s central bank has reportedly begun testing stablecoins in its regulatory sandbox. Bank of Russia Governor Elvira Nabiullina explained to local publication Interfax on Dec. 25 that the bank looks at companies wanting to issue tokens secured by some real assets, “but we do not assume that they will function as a means of payment and become money surrogate,” she emphasized.

Regarding central bank digital currencies (CBDCs) which many countries are discussing, “we are also at the stage of studying this topic,” the governor revealed. However, she noted that “First of all, we need to understand what will be the advantages for our citizens, for businesses,” compared to other options.

France Publishes New Crypto Rules

France’s financial markets regulator, the Autorité des Marchés Financiers (AMF), published its new rules for digital asset service providers (DASPs) on Dec. 20. They define the types of services that are considered DASPs under the new regulatory framework adopted in April and clarify which specific rules apply to crypto or ICO services. The regulator detailed that registration is mandatory for two types of crypto activities, elaborating:

If you provide services of digital asset custody and/or buying or selling digital assets for legal tender in France, you must register with the AMF.

Registrants must be established in France. They will be checked for compliance with the regulations on anti-money laundering and combating the financing of terrorism (AML/CFT). The AMF also recently approved the first public ICO in France.

Japan Hosting World DeFi Conference

Japan’s top financial regulator, the Financial Services Agency (FSA), announced on Dec. 23 that it is organizing the Blockchain Global Governance Conference in collaboration with Nikkei Inc. The event is in response to the consensus reached by the international regulatory community “on the importance of engaging with various stakeholders in the decentralized financial ecosystem to ensure public policy objectives,” as stated in the G20 Osaka Leaders’ Declaration under Japan’s presidency in June, the agency detailed.

The conference welcomes stakeholders from all around the world, including “those who are active in open-source software communities, such as Bitcoin, Ethereum, and Hyperledger.” University researchers, relevant organizations, businesses in the space, civil society and financial regulators are also invited. According to the FSA, the event aims to “discuss the better governance for decentralized financial ecosystem.”

Uzbekistan’s Crypto Ban

Uzbekistan has banned crypto buying. The country’s National Agency for Project Management has recently adopted amendments to the regulatory regime that place significant restrictions on local private individuals using cryptocurrency. The agency issued an order on Dec. 6 stating that Uzbekistan citizens will only be allowed to sell crypto assets on registered exchanges. Using decentralized cryptocurrencies as a means of payment is now also prohibited in the country.

Furthermore, any transactions involving coins acquired through anonymous means are banned. However, the regulator has not clarified how it plans to determine whether someone’s digital money has been involved in such transfers. Further, crypto trading platforms should only serve verified users of 18 years or older whose names are not on the government’s list of those suspected of money laundering and terrorist financing.

CBDCs in Korea, Japan, and the Bahamas

Besides Russia, three more countries made some announcements regarding their CBDC progress last week. The Central Bank of the Bahamas started a pilot program of a digital version of the Bahamian dollar on Dec. 27 in Exuma, which will be extended to Abaco in the first half of 2020. The bank described:

As the pilot progresses in Exuma, the central bank will simultaneously promote the development of new regulations for the digital currency, and strengthen consumer protection, especially around data protection standards.

The central bank added that it “will also advance reforms to permit direct participation of non-banks in the domestic payments system. Early passage of the new Central Bank of the Bahamas Bill will support the creation of some regulations, while additional reforms will be possible under the existing Payment Systems Act.”

Another country that has been studying the benefits of issuing a CBDC is South Korea. While repeatedly declaring that it is not currently considering issuing one, the Bank of Korea (BOK) is reportedly organizing a task force dedicated to CBDC research, local media reported on Friday. In its “Monetary Policy for 2020” report, the BOK revealed that it will continue to build on research into innovations, including distributed ledger technology, crypto assets, and CBDC. “We will actively engage in discussions with the Bank for International Settlements (BIS) and other international organizations, keeping an eye on CBDC development at other central banks,” the BOK wrote. The central bank also said it will recruit additional CBDC experts and proceeded to post a job opening for digital currency experts on Dec. 10.

Similarly, Japan is another Asian country actively researching the impact of a CBDC on the current system without committing to issuing one. The Bank of Japan (BOJ) published a summary report on Dec. 24 outlining the legal implications of a CBDC in the country. The report highlights a wide range of issues which need be addressed, including whether a CBDC can be regarded as legal tender, ways to combat its counterfeit or duplication, whether its issuance is consistent with the Bank of Japan Act, and whether the central bank can restrict its use by certain individuals. Other issues concern AML/CFT regulations, protecting personal information, and the penalties for counterfeiting or duplicating CBDC under current criminal law. “By clarifying these potential legal issues spanning various legal fields, the report intends to stimulate further discussion regarding CBDC,” the BOJ concluded.

Catch up on other regulatory roundups you may have missed:

Dec. 23: New US Crypto Bill, France’s 1st Approved ICO, Muslim Crypto
Dec. 16: Crypto ‘Inevitable’ in India, China Rankings, NY Streamlines Policy
Dec. 9: Bitcoin Futures Fund Approved, India’s RBI-Backed Digital Currency
Dec. 2: Germany to Let Banks Sell and Store Crypto, Laws Changing in Asia
Nov. 25: China Rekindles Cleanup, US Widens Oversight, India Defers Decisions

What do you think of the regulatory developments covered in this roundup? Let us know in the comments section below.

Disclaimer: This article is for informational purposes only. It is not an offer or solicitation of an offer to buy or sell, or a recommendation, endorsement, or sponsorship of any products, services, or companies. does not provide investment, tax, legal, or accounting advice. Neither the company nor the author is responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in this article.

Images courtesy of Shutterstock.

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Kevin Helms

A student of Austrian Economics, Kevin found Bitcoin in 2011 and has been an evangelist ever since. His interests lie in Bitcoin security, open-source systems, network effects and the intersection between economics and cryptography.

XRP Price Lost 66% Against BTC in 2019 — Will the Pain End in 2020?

What can I do to prevent this in the future?

If you are on a personal connection, like at home, you can run an anti-virus scan on your device to make sure it is not infected with malware.

If you are at an office or shared network, you can ask the network administrator to run a scan across the network looking for misconfigured or infected devices.






诺干年后回过头来看这篇文章,作为2019年的一个句点,中国 Crypto 圈某个重要时段的截影,一定会非常有趣。以这种去中心化的形式作为橙皮书2019年的结尾,一切也刚刚好。以下为正文,Enjoy~




邓超 Hashkey Capital 合伙人


Jan Nervos 联合创始人

50/50 的概率。

潘志彪 币印创始人


Tony X-Order创始人






Ben imToken 创始人

行情不预测,减半一定成功发生 🙂



熊越 币信研究院院长


楼霁月 TokenMania创始人


王一石 财经内容工作者


Suji Maskbook 创始人



潘超 MakerDAO中国区负责人

BTC 的牛市和减半关系不大,主要是市场预期。

民道 dForce 创始人




郭宇 安比实验室创始人


Kenny CoinCare Founder & CEO

BTC 也许会有行情,但是跟「减半」无关。


当前市场体量下,BTC 产量减半并不对市场交易产生决定性的影响,而更可能是一种群体暗示。

在国际形势复杂多变的环境下,加密货币又是波动性如此大的一种资产,放在一年的周期里,我宁可相信 BTC 是不可测的,随机漫步的。



b)市场无非三种走势:上涨、下跌、横盘,每一种都有 1/3 赌对的可能性。所以如果你看到有人跟你鼓吹明年有「减半行情」,不妨看看这个人是否「skin in the game」,毕竟屁股不但决定脑袋,也决定嘴巴;


祝小翰 Meter 创始人


Lin 分布共识 区块链投资人


Rui LongHash



龙凡 Conflux创始人


刘毅 Cdot Network创始人;王超 比特派联合创始人;小岛 创始人





邓超 Hashkey Capital 合伙人


Ben imToken创始人

不会。还有点早,最多会有一些 POC 试点实验。

Tony X-Order创始人


Leo 荷月科技合伙人






王冠 前星云链联合创始人


Suji Maskbook 创始人



包括「主导」这个词也充满陷阱。Facebook的Libra肯定不是政府主导的。那难道JP Morgan的美联储是当时的联邦政府主导的么?


Victor AlphaWallet CEO


潘超 MakerDAO中国区负责人


民道 dForce 创始人


祝小翰 Meter 创始人


Lin 分布共识 区块链投资人


龙凡 Conflux创始人


Jan Nervos 联合创始人;王一石 财经内容工作者;


刘毅 Cdot Network创始人;匿名投资人;楼霁月 TokenMania创始人;小岛 创始人;郭宇 安比实验室创始人






少平 星火矿池创始人


Tony X-Order创始人


潘志彪 币印创始人


王一石 财经内容工作者


Suji Maskbook 创始人


王渊命 Westar实验室首席架构师

我认为是 Facebook 推出 Libra 。可以先放下 Libra 最后是否能真上线,以及 Libra 这个链本身的模式的争论。单是这一个行为,逼迫以法币为代表的传统金融不得不正面面对以密码货币为代表的去中心化金融。我打过一个比喻,密码货币世界相当于海运,法币世界相当于陆运。在 Libra 之前,两个世界的物资交换主要还是靠搬运工和小码头,有许多摩擦,使得海运的优势无法体现出来。而 Libra 则试图宣布要创建大型港口,将两种运输方式对接起来。所以无论最后 Libra 是否成功,它的意义都是重大的。

潘超 MakerDAO中国区负责人

DeFi 被业界熟知,也证明金融是公链最适合也可能是唯一的应用场景。

Jan Nervos 联合创始人

Ckb launch。

Retric 橙皮书联合创始人

2019年最重要的事是 DeFi 得以幸存,成为了以太坊社区的新故事,也把之前积累的那批开发者的热情承接了过去,让他们能继续 Build 一些东西,而不至于散掉。下半年 BTC 行情的回暖也是很重要,为行业续命。




咕噜 币乎&Mykey 创始人


邓超 Hashkey Capital 合伙人

投资领域内,一是专业化,真正具备挖掘、投资和帮助优秀项目成长的专业能力和资源网络的投资机构会被市场更加青睐;二是合规化,区块链投资机构向传统优秀投资机构看齐,构建规范的业务流程,按照属地监管框架规范运营,并得到相关监管机构的资质准许;三是,投资侧重方向转变,由“纯技术故事” 向 “商业故事”转变,区块链技术已诞生超过10个年头,在关注技术突破的同时,投资者会越来越看中基于区块链技术的商业机会。

高素质蓝领 分布式资本合伙人


Jan Nervos 联合创始人


龙凡 Conflux创始人


孙立林 PlatOn CEO


潘志彪 币印创始人


Tony X-Order创始人



Leo 荷月科技合伙人


刘毅 Cdot Network创始人


王超 比特派联合创始人


Vincent DappReview创始人


楼霁月 TokenMania创始人


王一石 财经内容工作者


因此除了很多人期待LND会缓解这种现象外,基础层 base layer 的迭代也是必需的。会有更多的钱包和交易所支持BIP84原生隔离验证地址,基本上能降低60%多的手续费。更多onChain钱包商会内置界面化的 CPCF(child-pays-for-parent)、RBF取消链上交易之类的功能,来增加产品的竞争能力。

余弦 慢雾创始人

慢雾科技处于区块链生态里的安全领域,2020 年,我们认为是合规之年,不仅中国在加大力度监管加密货币,世界主要国家也会继续他们的监管策略。留给野战派的时间越来越少,但在全球范围内还有不少空间。无论如何,2020 的合规会对区块链相关项目及安全企业有更高的要求,相关安全服务及安全产品会更加规范化、标准化。来自加密货币世界的收入大概率是会受到很大的影响,但在非加密货币的区块链世界,安全也将迎来更多的挑战,其中最关键的是:

  1. 联盟链场景的安全问题,还未经历公链场景的激烈考验;
  2. 合规框架下的加密货币场景,安全同样是最直接的刚需,不仅是安全防御还有直接贴合合规框架下的反洗钱策略等。


郭宇 安比实验室创始人


Suji Maskbook 创始人


Victor AlphaWallet CEO


潘超 MakerDAO中国区负责人

MakerDAO 所在的赛道是 DeFi,2020年对以太坊上的去中心化金融来说会有很大的机遇和挑战,以太坊转 2.0,在 POW 共识的基础上转向 POS,从金融角度来看很重要的一点是 ETH 会带息,将有年化 8%的 staking 收益。我们一定会看到,不同的 POS 矿池作为托管商,发行带息的 ETH 债券(Ether Bond),出现不同利息和风险的ETH 债券,同时,这些债券本身又会作为抵押品,发行和生成新的衍生资产。

民道 dForce 创始人




小岛 创始人


祝小翰 Meter 创始人







邓超 Hashkey Capital 合伙人

1) 全球区块链真实用户过亿

2) 全球区块链资产市值过万亿美元

3) 中美两国(or中文社区和英文社区)在区块链领域的“G2”格局更加明显

Jan Nervos 联合创始人


少平 星火矿池创始人

staking + defi合成体会形成。



潘志彪 币印创始人


刘毅 Cdot Network创始人


王超 比特派联合创始人


Ben imToken创始人


公链孤岛问题,单条链的扩展性问题,监管政策的靴子不落地问题,依然是 2020 区块链面临的掣肘。

不过我相信 DeFi 还会继续高速发展,特别是 DEX 和 Lending 普及率将会大幅提升。伴随着更多的稳健性固收产品的推出,将会吸引更多早期拥抱者。

Leo 荷月科技合伙人




龙凡 Conflux创始人


楼霁月 TokenMania创始人


余弦 慢雾创始人

合规化是全球各国家的大势所趋,但肯定还会有不少空间容得下野战派及加密自由派。2020 年,我们觉得公链世界与联盟链世界会继续割裂着发展,公链承载加密货币,联盟链承载权力,或者简单粗暴地说:公链是价值网络,联盟链是权力网络。2020 年,坐看百花齐放。

Suji Maskbook 创始人


Victor AlphaWallet CEO

更多人能理解区块链的主要用途,Blockchain serves the role of the trusted third parties. 1、一个无摩擦的金融市场;作为互联网的集成点。

王渊命 Westar实验室首席架构师

预测不好说,我说一个期望吧。我希望能在 2020 年密码货币能通过闪电网络等二层网络方案,在线上数字内容支付领域出现典型案例,发挥出真正的优势。我认为区块链技术在数字内容支付领域有真正的技术和效率优势,但需要寻找合适的场景和模式。就如同 Bezos 最早在互联网上创建 amazon 卖书,就是因为互联网更能发挥出书的长尾效应,区块链密码货币领域需要找到自己的『书』。

潘超 MakerDAO中国区负责人


民道 dForce 创始人


小岛 创始人

ETH 2.0 继续 delay,但新生公链开始陆续上线,一部分技术落后的公链将被淘汰。IEO 热潮衰退,并将会被另一种形式的物种取代。

熊越 币信研究院院长


Lin 分布共识 区块链投资人




4) USDC实质运营将由Coinbase负责,Circle淡出舞台;





Kenny CoinCare Founder & CEO


b)大型互联网公司将在区块链技术的应用落地和商业化上发挥更大的作用,除了现有的使用区块链技术打通产业场景的 BAAS 服务,也许会有一些让人眼前一亮的 C 端产品冒出来;

c)Defi 生态将会继续保持高速增长,更多复杂的传统金融工具被带入 Defi 领域,用户体验也会得到极大改善,资产方面尤其看好 Defi 上的合成资产;

Mable Multicoin执行董事 & “禅与宇宙维修艺术”公众号贡献者



HBO拍摄的关于Elizabeth Holmes的纪录片里提到了硅谷流传的创业公司“Fake it until you make it”的理念,而由于一些主流机构的认可,这句话对于一些过去看来价值与价格并不匹配的去中心化协议同样适用,至少在短期可能改变了它们的基本面,但同样不排除只是延长了泡沫的寿命,就像媒体们对Theranos的一再期待。经过了两年的起起伏伏,行业里的人已经没那么醉心于等待泡沫褪去再重新进场,因为因为泡沫从不可能完全洗干净,而新的进步往往也建立在从过往泡沫的成功吸取的经验。

郭宇 安比实验室创始人



Tony X-Order创始人




Rui LongHash







现在的分布式商业的创新还是在理解和酝酿的过程中,20年如果有人很好的把分布式商业的概念用落地实例解释了,那么 区块链和分布式商业的春天才能真的到来。

中国政府对区块链技术的站台,总体对区块链利好的力量有限。但中国的数字货币看上去 2020年底落地的可能性变大。不知道这个会对 libra 有什么影响。而且我觉得中国数字货币的形式需要我们更有想象力。中国新的数字货币与人民币的关系,是个很有想象里空间的事情。


李阳 橙皮书创始人