On September 4, the central bank, the China Banking Regulatory Commission and other seven departments issued a notice announcing that no organization or individual may illegally engage in the issuance of financing activities, and all kinds of token financing activities should be stopped immediately.

In the name of blockchain technology, this method of capitalization has gradually evolved into a mixed fund-raising method. It took only half a year to get a blowout in a month. With the supervision of the order, ICO financing was stopped and the token market fell sharply. ICO's bubble quickly experienced a cycle from expansion to rupture.

From the expansion of the ICO to the rupture, investors experienced experiences from heaven to earth. The Beijing News today portrays a group of ICO investor groups: 80,000 in the bubble earned a house to buy a BMW; after the bubble burst, it lost a few hundred thousand in a few minutes.

Investors are mainly young after 85 and 90

The ICO roadshows in Beijing are concentrated in the Zhongguancun to Suzhou Bridge area of ​​Haidian District. According to the activity data, most of the roadshows are within 100 people, and the roadshow venues are mainly venture capital cafes.

The more high-quality roadshow project will invite famous people in the currency circle to “stand the platform”. The content is mainly based on the prospect of rising currency value. The project leader will introduce the product content and future planning of the ICO project. The “secondary” roadshow is more like “sales promotion”, and the project leader will focus on the benefits and blur the project itself.

Investors are most concerned about the token sales plan. According to industry insiders, this type of token sale usually adopts an “incentive mechanism”, that is, the crowdfunding plan will be started before ICO, and then the token will be given in time. 20% will be given and 15% will be given in the second stage, which will be decremented in turn.

At the end of the ICO, after logging in to the exchange, the token investors usually need to fulfill the “lock-in plan”. This is the project team to prevent the investors from collectively cashing in the value of the currency. The lock-up plan usually lasts for one month.

In early August, the two roadshows visited by the reporter found that ICO investment is still limited to the small circle of digital currency. The participating groups are mainly young people after 85s and 90s, and some middle-aged investors participate.

The speculator Lin Hua (a pseudonym) told reporters: "The profit-making effect of the market makes people ignore the risk. If you buy it, you can earn more than 3 times. Do you participate in this market or not?" Lin Hua said: Take me as an example. I know that they are making money, but they are still willing to vote. The position is small, and the loss is not much impact. Earning is a high return. What's more, the market is a bull market. If you buy a majority, you can earn."

However, with the arrival of supervision in early September, ICO was suspended and the token market plummeted. Within 15 days, ICO coins fell from 10 yuan/piece to 1.7 yuan/piece. As of press time, ICO coins closed at 1.78 yuan/piece. Based on this calculation, the total amount of ICO coins fell by 82.2%. Similar to the "voting chain" token, the token was once the highest at 0.0999 yuan per day 15 days ago. As of press time, the voting chain token was 0.01822 yuan per piece, and the total number of coins dropped by 81.76% in 15 days. In addition, titanium coins fell from 14.3 yuan to 3.64 yuan; UGTOKEN fell from 7.9 yuan to 2.55 yuan.

Bookmaker and winner

The coin circle sits on the plate: control tray, wash tray, pull high shipment

A coin investor believes that the token market has always had the habit of “freshing new”. When a new currency is listed, 90% of the probability will be 3 to 5 times. Among them, basically no player cares about the project to which this token is attached, whether it is feasible or prospective. If this "project" is relatively reliable, or if there is a "big bang" platform, then there is much room for speculation to rise. For example, Achain, which was traded on the online exchange on August 17, increased the value of the token from the opening of 1.5 yuan to 4.49 yuan in two days.

In contrast to the skyrocketing, the banker’s plunge after shipment, the price of the currency has shrunk dozens of times overnight, and the chicken feathers. A "miner" said: "After the listing of the new currency, it is necessary to speculate on high-selling, attracting the pick-up of the leek, and when the bookmaker pulls back the book, it will unscrupulously sell it." Achain, which is twice as large, August 19 After the skyrocketing, it began to fall all the way. The speculative people described the value of the currency as “waist after the waist.” As of press time, Achain each 0.54 yuan, with a maximum point of 4.49 yuan, a cumulative drop of 88%. It took only 11 days from the release to the break.

However, due to the influence of regulatory information, the situation of the new currency on the line broke out. Take the mysterious chain on the line on August 21 as an example. The opening price of the coin was 2.5 yuan. It broke on the opening day and once fell to 0.918 yuan. The first day closed at 1.27. Yuan, the value of the currency has shrunk by 50%. In the following trading days, the price of the Xuan chain has gone straight down and there has been no rebound. As of press time, the price of the Xuan chain is 0.3361 yuan, which has fallen by 87% in 15 days.

The speculators said that the currency circle is the same as that of the stock market. They all use the capital advantage to control and wash the discs, and increase the shipments to attract investors to catch up. The 14 kinds of tokens in the “Innovative Experimental Zone” of the Coin Network have an average turnover of 20 million in 24 hours, and the 24-hour turnover of Xuan Chain, Medical Chain and Quantum Chain are 15.9724 million, 19,778,100 and 25,902,200 respectively. The above-mentioned person said that millions of dollars can make the price of the currency fluctuate by dozens of points.

The fiery token market has spawned a company that specializes in "sitting in Zhuang". Lin Hua told reporters that "Zhuangzhuang Company is committed to the bottom of the company, the income and the investor share, the use of the relationship with the issuer of the token, the release of good news through the token issuer, the partnership to speculate on the high currency price."

After the 95,000 yuan, earned back the house and BMW

Lin Hua is an old player in the currency circle. At the beginning of the year, he earned more than 2 million yuan in a month's time through speculation of tokens. From May to June, he purchased a property in the second-tier city and added a 5 Series BMW to himself.

This year, he has not graduated from his senior year, and he is still a 95-year-old.

This is just a common case in the rich market in the past six months. In fact, the madness of the token market far exceeds the imagination of outsiders. Take the “leading” small ant stock of the current token as an example. The price of this coin was about 3 yuan in March this year. Lin Hua invested in the “small ant stock”. "Two or three days, I earned 40% and withdrew. I still felt that I earned a lot, but I didn't expect it to be so crazy." At present, the unit price of the small ant is 230 yuan, and at the beginning of the listing, the unit price of the coin is still Less than 1 yuan. In the three-month period, the small ant stocks rose from single digits to hundreds of digits. Asset appreciation has exceeded 100 times.

Lin Hua told reporters: "Repent, if I can hold it all the time, now I am already a multi-millionaire."

But in the token market, no one can "take" for so long. During the conversation, Lin Hua will always take out his mobile phone and open the “Potocoin” app to see the real-time market. 7 times 24 hours trading, no price limit, Saturday and Sunday non-stop, every second, the price of hundreds of tokens are changing, up 3% in the previous second, the next second may fall 10%.

Lin Hua said that there is no logic in the rise and fall of tokens. Often the founder of a coin comes out to public activities. The currency may have a wave of gains, and the fall is unreasonable. Recently, the miners of “BCC” (a token) dug up the 8M block, and this news directly increased the price of the coin by 80%.

"Saturday is a dangerous time. This time generally falls. In addition, in the middle of the night, the price of the currency is most likely to rise and fall." In this game, external funds continue to flood in, and the volume of the token market continues to increase. Lin Hua said: "Market participants are recognized as a bull market. As long as they are lucky, they don't step on the thunder. The big probability is to earn."

Lin Hua told reporters that in the case of a sudden drop in the token market in late August, "there was a few tens of thousands of dollars lost, but I wanted to fight back, and then bought it after the fall." He said: "There is a certain experience of the speculators. They will operate according to the idea of ​​selling and selling sharply. We have entered the market in the past few crashes.” When talking about risks, Lin Hua said: “After the big fall, they are all white money. Why not?"

Speculators and exiters

Dairy shop owner: If you make money, you can run it.

Mr. Yang, 40, runs a dairy retail store. He told reporters that a month ago, he earned hundreds of thousands of dollars with 50,000 yuan. Lao Yang said: "It is sure to be happy to make money, which is more than just selling milk."

Talking about the blockchain, Mr. Yang said: "I am a college graduate and don't understand the blockchain. However, this market (the token market) has risen so badly that I can only make money if I run the money and I don't think about investing."

Regarding the regulatory issue, Mr. Yang believes: "The supervision of the landing, the token market will definitely fall, we certainly do not want to see the money in hand to lose money, and now I have gradually withdrawn the money."

Members of the group "pull up the group": cheating the dish

"I will pull up immediately at 11:00", "Register will send 1 million magic coins + 10 coins to raise shares, and the group will raise QQ group × × × ×"...

At the time of the various currency plunges, the reporter noticed that various "pull up groups" began to increase.

"The purpose is to lie to pick up the leek," one investor said bluntly.

The reporter joined a QQ group called "The Cottage Currency Control Corps". After a long time, some people shouted in the group: "Don't be jealous, full of warehouses." But the respondents are embarrassed.

"Everyone is not stupid. When people are in good market, there are people listening. Who can dare to enter now?" An investor named "Abu" told reporters, "Nothing, the currency circle has skyrocketed, no technology, just to cut Amaranth."

Investors shouted to withdraw coins ICO coins to transfer abroad

After the news of the regulatory layer came out, I just met the ICO's “Super Skynet” project on several platforms and encountered many investors' refund requirements.

“After all, policy risk.” An investor claims in the group – which also represents the thinking of a considerable number of investors. Since then he has been asked to register and go through the relevant formalities.

"Playing with the coins, I still want to make money, I don't want to take risks." Some people also spit in the group.

“The application has naturally risen, and the appreciation of the trading platform is the reason for speculation, not worth mentioning,” another investor said.

Not long ago, the ICO coins of Bitcoin China co-founder Yang Linke were also offline on their own platforms. According to its announcement, ICOCOIN officially landed on the European trading platform C-CEX (C-CEX.COM) at 13:00 on September 1, 2017, and said that C-CEX is headquartered in Germany, and its main users are from EU countries. The United States and China also have certain users.

The token market plunged 40% of investors: a few ten thousand 10,000

On the 4th of September, due to regulatory news, the token market fell sharply. As of 16:30 yesterday, the 14 types of tokens in the “Innovation Experimental Zone” of the Junet Network all fell, and 8 tokens fell more than 40%. Among them, Achain fell 54%, and titanium coins fell 50%. In addition, Ethereum and Bitcoin fell by 11.46% and 6.77% respectively. In late August, affected by the regulatory rumors, the token market fell all the way. For example, the 14 kinds of tokens in the “Innovation Experimental Zone” of the MG trading platform, since August 15, Achain, voting chain, mysterious chain, medical chain, ICO coin, titanium coin, intellectual coin, and basic currency Fell more than 90%.

The medical chain was 1.49 yuan at the highest on August 15 and the price was 0.13 yuan at the time of publication. The coin "leading" NEO (formerly known as "small ant stock") reached a high of 339.51 yuan on August 16th, as of the time of publication

It is 120 yuan. Under the market plunging, the token speculators suffered heavy losses. A speculator said, "I have not escaped the fall, and there are no more than ten thousand in a few minutes."

However, after the market plummeted, there was a slight rebound. The speculator said: "This is the money for admission to the bottom of the market. If the eye is fast, you can still get a certain amount of income." The token market is 7×24 hours, and there is no increase.

The limit of the decline, T + 0 trading, the speculators can buy at any time to sell.

On September 4th, the founder of the V-Babbit, the leader of the currency circle, appeased investors in the group. Now the market is somewhat irrational and supervision is a good thing. Big waves and sand, the survival of the fittest, believe in the laws of nature.

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