My Fintech Empire

The current depreciation pressure on the offshore RMB in the foreign exchange market appears to be due to the continued strength of the U.S. dollar index and the flight of foreign capital. In fact, it is the flight of domestic capital, and people who are rich, colonists, and those who are afraid of being liquidated are operating huge amounts of wealth. Transferred overseas.

In particular, the rise of Fang Hong and Qunxing Capital has caused a surge in the number of these people fleeing with their money.

However, the continued reduction of foreign exchange reserves is obviously what the external international short forces want to see most, because the continuous reduction of foreign exchange reserves means that the state's ability to intervene in the foreign exchange market will continue to weaken.

As far as the current situation is concerned, in Fang Hong's eyes, it is inevitable that the offshore RMB will reverse and strengthen in the future, and he is not worried about how big a wave the international short sellers' counterattack at the end of the year will cause.

No matter how much interest rates are raised next year, the U.S. dollar index will reverse and weaken, because if America is new, it will be no surprise that everyone will "withdraw" from the group. He will set off a wave of anti-globalization and engage in America. Card priority was given, which instead impacted the U.S. dollar index, so it began to weaken. As the U.S. dollar index continues to decline, the offshore RMB exchange rate price will strengthen even if it maintains its current position.

What Fang Hong is really focused on now is to intercept the large-scale loss of wealth from the mainland, which is a huge amount that can easily start in the trillions. Especially those who keep their debts in the mainland and transfer their assets overseas, including insiders, insiders, and opportunists who take advantage of the chaos.

At the end, Fang Hong glanced at Tian Jiayi: "In view of the large-scale transfer of domestic capital overseas, we severely cut off this group in the foreign exchange market at the beginning of the year. Most people will not take risks now. They cannot be so quick. Forgot what happened at the beginning of the year..."

After thinking for a moment, Fang Hong immediately ordered: "Drive these domestic investors who are trying to flee to the cryptocurrency market and let them use this channel."

Tian Jiayi heard his words and wondered: "Isn't it possible? The world's largest encrypted digital currency trading platform Mt. Gox is now operated by Qunxing. Although the equity structure of the platform has been given to Merrill Lynch, do they have the guts to use this channel? Aren't you afraid that we will ambush them?"

Fang Hong smiled and said: "Don't worry too much about this. Just launch an unprecedented super bull market for the encrypted digital currency represented by Bitcoin. The current legal vacuum in this area can be exploited, and the country is in other levels. It’s either blocked or strictly cracking down on large-scale capital outflows. Only encrypted digital currency is a new thing and can accommodate large capital flows.”

"Next year Matrix Quantum will follow up on the technical level. Chen Yu over there will open source the second-generation AI large model, tell a good story with it, and hype up the concepts of blockchain, artificial intelligence, virtual world, and virtual world." Digital property rights, virtual currency trading systems, etc., have given a boost to Bitcoin’s bull market and given it unlimited space for phenomena.”

With Fang Hong's current ability, or the control of various resources currently held by Star Capital, it is easy to artificially launch a super market for digital currencies represented by Bitcoin.

Choosing to push the cryptocurrency market out of the bull market at this time is also the right time and place. This year is called the "Year of the Blockchain" because the value of the blockchain is truly recognized by the world this year. The UK, Sweden, Denmark, Canada Many countries, including China and India, have successively announced that they are stepping up the research and development of national digital currencies based on blockchain technology.

What Fang Hong has to do is to add fuel to the fire and make this craze even hotter. It will be much easier to push encrypted digital currencies out of the bull market at this time of 2017, because there are more people playing, and big names are entering. There are too many places.

Even in the previous life, Bitcoin was on the rise throughout 2017, with the price once soaring to US$20,000. Now it is not difficult for Fang Hong to add another fire to push the price to US$35,000.

After a while, Tian Jiayi continued: "The current market price of Bitcoin is about US$733 per coin. Since you plan to launch a bull market here, how high do you plan to push the price?"

The current market price of Bitcoin is in a state of being cut in half and then cut in half compared to its historical high.

Fang Hong thought for a while and then said the target price: "Push it to the range of US$30,000 to US$35,000 in the next year. This bull market will last for at least one year, that is, by December next year." The month peaked.”

Hearing him say this number, the beautiful assistant couldn't help but widen her beautiful eyes and looked at him in astonishment: "Oh my god, push the price to 35,000 US dollars?"

The current price of Bitcoin is US$733 per coin. If it rises to US$35,000 within a year, it will surge 46 times, and its market value will be pushed to US$735 billion, converted into RMB That’s an astronomical number of over 5 trillion.

Fang Hong paid little attention to the astonished beautiful assistant. He then ordered: "In addition to Bitcoin, Ethereum has also been raised to a height of 3,000 US dollars. The main types of encrypted digital currencies are these two types. Other categories can be developed. Do it, but you don’t have to work hard to make it work.”

Ethereum was launched in 2015, but at that time the cryptocurrency market was at the bottom of the bear market, and almost no one knew Ethereum. Even in January this year, the total market value of Ethereum, a little-known blockchain variety, was Only $70 million.

But in just two months, its market value soared to a maximum of US$1.15 billion, a 16-fold increase, because the blockchain concept became very popular.

On April 30 this year, the Ethereum-based project application "The-DAO" began crowdfunding, raising 11.5 million ethers in just 28 days, with a total value of more than 150 million US dollars, becoming the largest crowdfunding project in the world history at that time.

Ethereum also rose rapidly and became a popular currency, second only to Bitcoin among many encrypted digital currencies.

However, the price of Ethereum has fallen below $7, which has been halved compared to the historical high in the first half of the year. The reason is that there is a problem with The-DAO. On June 18 this year, multiple vulnerabilities in The-DAO's smart contract were hacked. 3.6 million ethers worth more than $60 million were invested in a DAO sub-organization, which has the same structure as The-DAO.

At that time, the price of ether fell directly from more than $20 to below $13. Many people tried to detach from The-DAO to prevent the ether from being stolen, but they could not get the required number of votes in the short term because the designers never thought that the amount would be so large, and all ethers were stored in a single address.

In fact, there have been many disturbances in the encrypted digital currency market this year, with the main theme of "life never stops, and trouble never stops". Going back a month, on May 14 this year, the HK digital currency exchange Gatecoin was attacked, and more than 2 million US dollars worth of Ethereum was stolen.

More than two months later, on August 4, the digital currency exchange Bitfinex was also hacked, and 119,756 bitcoins were stolen, which was worth more than 72 million US dollars at the time. Many currency circle players couldn't even afford instant noodles because of this.

On the contrary, the Mt.Gox trading platform also suffered hacker attacks and bitcoin thefts in previous years, and went bankrupt and was taken over by Qunxing Capital. However, it was after Qunxing took over that this trading platform has never experienced similar hacker attacks again.

In addition, this platform is backed by top financial giants from the East and the West, such as Merrill Lynch and Qunxing. It has a leading user experience, rich tools, and professional APP applications. The key is that there is no barrier to monetization. Over the years, it has built up its reputation and credit, making Mt.Gox the world's largest encrypted digital currency trading platform.

More than 70% of global currency players trade on the Mt.Gox trading platform. For those in China who want to transfer wealth through encrypted digital currency channels, they can't avoid it even if they have concerns.

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