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The past two weeks have been a celebration for Bitcoin enthusiasts. After breaking through 3,000 yuan on May 26, the price of Bitcoin soared 30% in three days, the largest weekly increase since November 2013, and the highest price of nearly 4,000 yuan was a 23-month high. After the sharp rise and correction, the price of one Bitcoin remained stable at around 3,800 yuan, which is worth 1,100 shares of Bank of China, and once again became a "hotshot" in the eyes of investors.
Regarding this round of Bitcoin's rise, HaoBTC co-founder and COO Wu Guanggeng said that it was an expected return to value: "The approaching halving cycle, the growing demand for Bitcoin and the halving of Bitcoin supply are the important driving forces for Bitcoin to get out of the winter. At the same time, the blockchain craze has popularized a wider range of people, allowing people to re-examine Bitcoin and promote its revival. It is estimated that the daily buying volume of nearly 100 million yuan is the starting power of this rise." Other market insiders pointed out that after 2013 years of crazy speculation, 2014 years of bubble bursting, and 2015 years of keeping a low profile, Bitcoin was deeply affected by the internal and external environment in 2016 and regained market favor. At the same time, it benefited from the healthy ecological chain built by Bitcoin itself in the production, storage, transaction and payment links for 6 years, attracting more and more people in demand to join and become a part of it.
Data shows that as of May this year, the total number of registered users of Bitcoin wallet products worldwide has reached 12 million, while this number was only 6 million at the beginning of 2015. At the same time, the number of registered users of haobtc.com, China's largest Bitcoin online wallet website, has tripled.
HaoBTC was founded in late November 2014 by one of the earliest Bitcoin supporters in China. Its founder, Wu Gang, started to use Bitcoin in 2009 and was one of the earliest Bitcoin miners and believers. In the early stage, HaoBTC used large-scale mining to open up Bitcoin wallet financial management applications, and used fast Bitcoin trading to open up Bitcoin payment links. It steadily laid out the entire industry chain. Due to its reliable team and excellent products, it enjoys the label of "good factory" in the Bitcoin circle. Today, HaoBTC has become a top international Bitcoin wallet provider, and its Bitcoin transfer volume ranks among the top in the domestic industry. It is the most popular Bitcoin online wallet in China. In 2015, the transaction volume exceeded 1 billion yuan. It was launched on the exchange in April 2016, and the daily transaction volume exceeded 3,000 Bitcoins in just one week of operation. In June 2016, the computing power of the self-built mine reached 70P, accounting for 5% of the total network computing power. HaoBTC has a strong R&D level, first-class service attitude and excellent industry reputation, and is one of the most promising Bitcoin companies in China.
Where is Bitcoin headed?
Currently, more than 100,000 merchants around the world accept Bitcoin payments, including Microsoft, Dell, Starbucks, Steam and other large multinational companies in many fields. At the same time, Bitcoin, this "currency experiment", is at a critical stage in terms of technology upgrade. Limited by the 1MB transaction block size of the Bitcoin network, the Bitcoin network can only process three transactions per second. In contrast, VISA's network can process more than 24,000 transactions per second. Expansion is imperative. On February 21, 2016, HaoBTC CEO Wu Gang, as one of the representatives, reached a consensus on expansion with industry and development community representatives at the Hong Kong Bitcoin Roundtable. Based on this expansion, the lightning network to be launched will enable Bitcoin to process 100,000 transactions per second. The technical upgrade of the lightning network is of great significance to Bitcoin, making it no longer "like a toy" in the currency market. The ultimate transaction processing capacity and nearly instantaneous transaction confirmation can make it a real payment network. It is estimated that the lightning network can bring 30 million users to Bitcoin within two years, and the network effect generated by then will have unlimited imagination.
Since the central bank and five other ministries issued the "Notice on Preventing Bitcoin Risks" in December 2013, China's regulation of Bitcoin has been in the observation stage. As the underlying blockchain technology of Bitcoin has gradually gained attention and recognition from governments and financial institutions around the world, it has triggered a change in the attitude of central banks towards Bitcoin, and the policy risks faced by Bitcoin have been reduced. The Chinese government has also re-recognized blockchain technology. On January 20, 2016, the central bank convened experts from Citi and Deloitte to hold a seminar on digital currency. Zhou Xiaochuan, the governor of the central bank, personally attended the meeting and said that it would take about 10 years to launch the digital currency issued by the People's Bank of China. Klaus Schwab, founder of the World Economic Forum, gave a very high evaluation of blockchain technology, praising it as a disruptive technology and the result of the fourth industrial revolution since the invention of steam engines, electricity and computers. As a pioneer of blockchain technology, Bitcoin has a long way to go and has great potential.
In the context of active Bitcoin trading, in order to accelerate the professionalization of Bitcoin trading and further list digital assets as a new asset class, the world's largest futures exchange CME Group announced in May 2016 that it would cooperate with Crypto Facilities Ltd to launch two financial products with Bitcoin as the underlying: CME Group CF Bitcoin Reference Rate (BRR) and CME Group CF Bitcoin Real-Time Index (RTI), which are standardized reference rates and spot price indices with independent supervision. It is reported that BRR and RTI will begin testing in mid-September 2016 and are expected to be officially launched in the fourth quarter of 2016, which will lead to the full formalization of Bitcoin trading.
HaoBTC: Making Bitcoin easier to use
The HaoBTC team is unanimously and firmly optimistic about the future development of Bitcoin. Haobtc.com is currently the only trading website in China that only supports Bitcoin assets. Adhering to the working philosophy of "everything we do is committed to making Bitcoin popular and easy to use", a series of products carefully built around Bitcoin wallets, Bitcoin exchanges, Bitcoin mining, and Bitcoin mining pools have gained wide recognition in the market. Among them, "HaoBTC's redefined Bitcoin wallet" has become the most popular Bitcoin online wallet in China. The vast majority of investors who have just entered the Bitcoin industry and have Bitcoin assets will choose HaoBTC wallet as the first step. The next step is to continue to layout the upstream and downstream of the Bitcoin industry on the basis of improving existing products, and make each product stronger and bigger.
"The most important attribute of Bitcoin is that it is a global asset, and the direction of entrepreneurship is determined around this asset attribute. The pain point of demand is that Bitcoin, as a trendy asset, has a certain threshold for ordinary users to manage this asset. What we need to do is to continuously lower this threshold, even lower than Alipay, so we created haobtc.com, with the goal of becoming the first platform for trading and using Bitcoin." Wu Gang said. Hao Bitcoin does its utmost to protect the rights and interests of investors of financial management users, and under the premise that the situation permits (without affecting user privacy), it publicizes the operation of the website in a fair and transparent manner. The possibility of losing Bitcoin is almost eliminated through the OathKeeper™ defense system in conjunction with hardware encryption devices (HSM). ️Hot and cold wallet isolation effectively reduces the risk of losing hot wallets on online servers. From private key management to multi-signature transactions, security policies are checked layer by layer. From hardware to software, the asset security of website users is fully guaranteed.
“The value of Bitcoin is not only reflected in the demand for storage, speculation, and hedging. As time goes by, the population dividend of Bitcoin in its early stage has faded. What excites me is that more and more audiences are beginning to really use Bitcoin.” Wu Guanggeng said; “Recently, Steam, a PC game distribution platform with 10 million Chinese users, supported Bitcoin recharge. A large number of Steam users flocked to HaoBTC to buy Bitcoin, and then recharged Steam to buy games. This reflects the user's recognition of HaoBTC. I believe that more and more merchants and users will use Bitcoin in the future. As a leading Bitcoin asset management platform in China, HaoBTC has a bright future.” |
