Fortune telling is forbidden on Wall Street _ Trading is forbidden on Wall Street.

Fortune telling is forbidden on Wall Street.

Wall Street embraced digital currency. Digital currency is very different from ordinary currency, and there are great differences in nature, issuers and so on. With the development of private digital currency such as Bitcoin and the application of blockchain technology, encrypting digital currency has become a worldwide research hotspot.

Physical currency is produced under the guidance of economic factors, and technical factors do not play a leading role in these factors. The regulatory factors are mainly reflected in the social system, not the national sovereignty system. Physical currency lacks regulatory elements and belongs to the transitional currency stage. Both monetary and credit factors belong to the stage of economic development. Electronic money reflects the economic demand and the introduction of new technologies, but does not reflect the changes in regulatory elements, so electronic money is a transitional stage.

Judging from the purpose of issuing digital currency by the central bank, it is different from the speculative behavior shown in the private digital currency market. The ultimate goal of the central bank's choice of digital currency is to provide a safer and more effective currency form. Realize the inflation of the whole society, realize the transparency, fairness and truth of economic transactions, eliminate the black economy to the greatest extent, and improve the efficiency of economic operation. Compared with electronic money, assuming that there is no difference in user experience between digital currency and electronic money, the advantage of digital currency lies in its higher security, and its willingness to accept digital currency in the market will be higher than that of electronic money. -Money. Even if the nominal value of digital currency and electronic money are equal, the real value of digital currency recognized by the public will be higher.

Take bitcoin as an example. At present, the price of bitcoin is formed through exchange transactions and bidding. If all exchanges stop trading bitcoin and prohibit the legal tender of any country from being associated with bitcoin, then the so-called bitcoin value from social trust will no longer exist. Therefore, the price formation mechanism of folk digital currency embodies strong commodity attributes and speculation, and further embodies the non-monetary nature of folk digital currency.