This weekend is also a kind of knowledge rediscovery, and even a two-day rediscovery for Lu Jinlai's group of fund managers and researchers.

Perhaps the amount of information in society is too large now, and many people choose to avoid unfamiliar information, and since the birth of Bitcoin in 2009, the cryptocurrency market has developed so far, with more than 1,800 cryptocurrencies issued, and hundreds of cryptocurrency exchanges appearing, with a market value of hundreds of billions.

It's just that the flowers are self-explanatory, and people who don't look at the flowers don't notice how delicate the flowers are.

This is also normal.

People only live for a few short decades, and sometimes everyone only sees what is in front of them.

And due to the uncertainty of local government supervision, it is difficult for electronic currency exchanges to obtain the support of banks, and the connection between fiat currency and cryptocurrency has become a major problem, and many people who are busy with reality and survival rarely understand these things.

When the researchers settled down to focus and study this piece, they realized that their brains were open.

"It's really a genius idea!!!"

"Actually, it is true that these ideas of Bitcoin are geniuses, but Tether is the genius of geniuses," Zhang Can also sighed, "Tether (USDT) is a token Tether USD (hereinafter referred to as USDT) based on the stable value currency US dollar (USDT) launched by Tether Company, 1USDT = 1 US dollar, users can use USDT to exchange USD with USD 1:1 at any time." Tether strictly adheres to a 1:1 reserve guarantee, that is, for every 1 USDT token issued, its bank account will be guaranteed with $1 of funds. Users can make fund inquiries on the Tether platform to ensure transparency. ”

"Yes, and this Tether was only launched in 2014," Li Liang also exclaimed, "In late November 2014, Realcoin, a company registered in the Isle of Man and Hong Kong, changed its name to Tether. When it was launched in February 2015, Bitfinex, the largest trading platform for Bitcoin futures trading volume, announced that it would support Tether (USDT). Subsequently, the altcoin trading platform Poloniex exchange also supports USDT. With the strong rise of Ether, P.com has a leading position in the altcoin trading platform, and it has also increased the trading volume of USDT. USDT is issued and traded using the Omni (formerly Mastercoin) protocol, which can be said to be the first 2.0 coin based on the Bitcoin blockchain on the market. Therefore, the transaction confirmation and other parameters of USDT are consistent with those of Bitcoin. According to Craig Sellars, CTO and co-founder of Tether, users can wire USD to a bank account provided by Tether via SWIFT or exchange for USDT through the Bitfinex exchange. When redeeming USD, the reverse is sufficient. Users can also exchange Bitcoin for USDT on both sites. Its website claims to strictly adhere to the 1:1 reserve guarantee, which means that for every 1 USDT token issued, its bank account will be guaranteed by 1 USDT. In terms of compliance, all operations involving fiat currency require users to complete KYC verification. When asked how users verify bank account margins, Craig said that fiat currencies are held by Tether Liminted and are subject to regular audits, but that users can't directly access margins at this time. ”

"Is it really audited?"

"This company is registered in the Isle of Man and Hong Kong, and we are not familiar with the company's regulation and laws?" Another researcher shook his head, feeling unsure.

"In fact, to be honest, the genius of Tether is reflected in the poor supervision, the biggest advantage of USDT is that it can protect investors' assets in the currency circle from rising and falling with the market, it is equivalent to the same amount of US dollars, 1USDT = 1 US dollar, making it a good store of value in the volatile cryptocurrency market. However, the biggest risk of USDT is that the issuance of Tether is completely centralized, that is, the issuance, acceptance, regulatory risks, and operational risks are all concentrated in Tether. So, to put it bluntly, Tether (USDT) is essentially an air coin "Liu Bin knows a lot about it, and the conclusion of the air coin made everyone a little surprised," TEDA USDT is a digital currency issued based on the gold standard, that is, for every 1 USDT issued, the corresponding 1 US dollar will be deposited into the bank reserves of TEDA company, and the practice of locking the US dollar makes it have the right to derive currency from credit and become a copycat Federal Reserve in the currency circle, open short orders in the futures market to earn 10 times to 50 times the income (overseas exchanges can open 50 times the contract), and their unlimited air coins, they can smash as much as they want, smash a bottom or a stage bottom, they may backhand long, and then use USDT to smash the low-priced coins (such as BTC ETH BCH EOS Re-buying, they are in this process, just like the central bank, expressing as if they used money to buy contracts, in essence, they don't have to spend a penny, this back and forth can hoard real money and valuable coins in their own hands, and the cost is zero, you can look at the past, 2017 after 94 crazy long bull market, USDT unlimited boost BTC ETH to hit one jaw-dropping price after another, and then change hands at a high level all exchanged for cash. “

"Doesn't it mean that USDT is issued by it, it doesn't matter how you want to send it, and there is zero cost, isn't this an empty glove white wolf?

"It's a pity that this forest has grown," Zhang Can analyzed, "With extreme monopoly power, there are two ways for TEDA to harvest and monetize USDT in both directions: 1. Issuing USDT → pushing up the price of the currency → exchanging gloves for cash at a high level."

2. Issue USDT in exchange for other currencies→ suppress the currency price→ futures short to make profits→ further lower the price, and absorb chips at the stage floor price

Then repeat the previous step, an infinite loop, which is a process without a solution. ”

"It's scary!"

"And it was a terrible idea realized, which was worse than the plunder of the Second World War. Because TEDA is now equivalent to the Federal Reserve of the currency market, performing the same role as the central bank, he has a market position of unlimited banknotes, and then exchanges these water-injected air coins for the coins bought by real money, in exchange for those coins with real market value, and USDT is issued at zero cost for TEDA, you can play as much as you want, you can let the market rise, and if you want the market to fall, there is no normal logic of supply and demand transactions to generate prices. Tether USDT takes advantage of most people's ignorance of the financial market to harvest all players involved in the currency market in both directions. Because of the number of contracts opened by the player, the liquidation point, the exchange knows better than anyone else, it wants you to hang the order, just hang up, this is the same as God, in his field, omnipotent. ”

"God is omnipotent, but God wants people to perish, it is right to make them crazy, TEDA company through nearly 100 crazy additional issuance, the total amount of USDT has broken the 3 billion mark, according to TEDA company's commitment, every 1USDT issued corresponds to the reserve of 1 US dollar, then according to the current scale of TEDA issuance, it should reserve at least 3 billion US dollars in cash in the bank for derivation of USDT, but the fact is that there is no reserve, and the audit is completely none! TEDA company's report is just a dead letter. There is no real dollar reserve for the target amount, there is no transparent financial audit, the reserve account is opened to a bank in Puerto Rico, and the partner of the law firm responsible for issuing the report is still an interested party of TEDA. ”

"This is too unreasonable, but there is nothing to be done, after all, in this world, some ideas, some concepts, it is impossible to unify, which may be a big disaster for many players in the end, but it shows us a new way of thinking and new methods. We are engaged in traditional finance, to now, we have also seen that the cemetery fund only has five profits, private equity funds in addition to the gold finger shit luck foolish, most of them are also closed, the loss of loss, the survival of the can not survive, our road, the difficulty is still squeezed in the traditional finance, our way out, in fact, in this digital finance, we have also seen in recent days, the people who open the account are very crazy, because they used to understand this thing seriously, but under the leadership of this group of experts in the lecture hall, they are not crazy or crazyLu Jinlai sighed deeply, "We must completely emancipate our minds, let go of our ideological baggage, and break into digital finance and electronic money, which is also a broad road for us to make a lot of money in the future." ”