区块链的ico是什么意思,区块链市值管理软件

❶ What is the development history of ICO?

On September 2, it was reported that on August 21, the central bank headquarters received a relevant emergency report. The report analyzed the details and clearly stated , from the perspective of penetrating supervision that emphasizes substance over form, ICO is a disguised form of illegal fund-raising.

Quoting people said that relevant people from the central bank studied a large number of ICO white papers and concluded: "90% of ICO projects are suspected of illegal fund-raising and subjective and intentional fraud, and the real funds raised are used for project investment. In fact, less than 1% of the ICOs."

So what is the development history of ICO?

July 2013: Mastercoin (now renamed Mastercoin OMNI) is one of the earliest blockchain projects to conduct an ICO. It successfully raised 5,000 BTC through crowdfunding on the Bitcointalk forum.

Mastercoin is a secondary coin built on the Bitcoin protocol and is designed to help users create and trade cryptocurrencies and other types of smart contracts.

December 2013: NXT (Future Coin) is the first complete POS blockchain. It raised 21 BTC (equivalent to US$6,000 at the time), but its market value reached a maximum of US$100 million, which is very difficult for investment. It is undoubtedly one of the most successful ICO projects for investors.

Between 2013 and 2014: Many crazy blockchain projects successfully launched ICOs, and their token prices have skyrocketed. Unfortunately, these ICO projects eventually died due to hype. In the process or directly become a scam.

However, during this time, there were also very successful ICO projects, such as Ethereum.

July 2014: Ethereum (Ethereum ETH) has high popularity at home and abroad. It is one of the largest ICOs to date, raising more than 18 million US dollars. It is also the cryptocurrency with the highest market value after Bitcoin. Digital currency.

March 2015: Factom (Factom) used the blockchain technology of Bitcoin to innovate the data management and data recording methods of commercial society and government departments through the Koinify platform ICO.

March 2016: Lisk’s decentralized applications (DAPPs) are programmed using Javascript, which is currently the simplest and most popular programming language in the world.

Lisk raised a total of 14,080 BTC and more than 80 million XCR this time. The amount raised from crowdfunding ranked second among blockchain project ICOs, second only to Ethereum.

May 2016: The DAO is the largest crowdfunding project in the history of ICO, with a financing amount of US$160 million.

The full name of DAO is Decentralized AutoNominous anization, or "decentralized autonomous organization," can be understood as a company-like entity whose operations are completely controlled by computer code. This is the first time in human history.

However, as a much-anticipated ICO project, it was eventually attacked by hackers, and then had software and hard forks amid controversy, and finally ended up being disbanded and returned to Ethereum.

September 2016: FirstBlood combined e-sports competition services with blockchain and used smart contracts to solve reward structure problems. It raised US$6 million at the beginning of crowdfunding. A total of 465,312.999 ETH has been raised globally.

❷ Blockchain "tokens" will subvert "capital"

What blockchain brings is an opportunity that comes only once in 500 years. Because what it changes is not productivity, but production relations.

A person works for a company 8 hours a day. Does he have to work for a company in the future? Is it possible to be self-centered rather than company-centered? This is what blockchain technology brings us to think about.

Most people think of blockchain as a new technology, some say it is a new generation of the Internet, and some call it the digitization of currency or assets. The author believes that what blockchain is facing is to subvert the entire social relationship and social organizational form. It is a manifestation of the development of productivity to a certain stage. The Internet has brought about a great development of productivity. The previous production relations are no longer suitable for the development of productivity levels, and have even hindered the development of productivity. The exchange of new productive forces and the birth of new production relations are the token economy brought about by blockchain technology. Its impact is much more profound than the blockchain technology itself.

Previous capitalist reforms all focused on capital, and tokens will subvert the economy and even capital. The original modern company organization method of capital structure with raised funds as the core will be subverted by the future economic organization method of token structure with contribution incentives as the core. The capital economy will be subverted by the token economy, and capitalism may be subverted by tokenism.

Reshaping human organizational forms, business organizations, and corporate systems can be regarded as the greatest invention of capitalist society in the past few hundred years. It can be said that without the company, there would be no history of Britain becoming an empire on which the sun never sets, and there would be no strong rise of the United States. But as the company has developed over the years, problems have also emerged.

Labor creates value, but workers do not enjoy value, that is, those who create value do not enjoy value, and those who enjoy value do not create value. For example, in Taobao, value is created by executives, employees, consumers, distributors, and suppliers, but those who truly enjoy value are those who invest in the capital market.

The author believes that it is time for humankind’s organizational and economic forms to be reshaped. In the past, when running a company, as long as we raised fundsWith capital, we can hire more people, buy more means of production, and expand reproduction. In this era of fragmentation, entrepreneurs no longer need to rely on a lot of capital to start a business. They can also crowdfund to start a business. Even if you don’t invest any money, as long as your people contribute to the company, they can enjoy the value of the company. The organization of resources has changed: funds are no longer the most important, resources are the most important.

This organizational method is fully expressed by the blockchain. Wu Xiaobo mentioned a term called "entrepreneur": entrepreneur and investor. It is unimaginable that investors and entrepreneurs can be separated. All valuable things in a company are reflected on the balance sheet. Equipment, factories, and land are the most valuable assets. Now data and users are the most valuable assets in the future, and they are not reflected in the balance sheet.

What has always been the case is that employees in the company receive salaries, executives receive incentives plus some options, channel dealers earn product price differences, and partners earn service fees. Now this logic has changed, and the source of value has been changed. In the past, the surplus value of labor was expropriated by capital. In the future, everyone should be a contributor and enjoy. A person has a variety of resources: human resources, knowledge resources, and governance resources. Everything is centered on the individual, not around the product or the company.

Blockchain has subverted the company's core value - maximizing shareholders' interests, and also subverted the company itself.

Blockchain’s transformation of traditional companies is reflected in its fragmentation of production processes and data, which is exactly the opposite of many social organizations. In the past, in industrialized societies, business could only be done on a large scale because transaction costs were very high. Blockchain makes granular transactions possible, miniaturized and trustworthy. In the original exchange of capital flows, there must be a process of fund payment when signing a contract. After digital assetization, it can be automatically processed through smart contracts, and the company system faces various challenges.

In the future token economic structure, things that were originally considered valuable may become worthless, such as investors who form the basis of a company’s capital structure. and managers, company equity, assets, claims, capital, funds; the corporate governance structure that constitutes the company's organizational structure - shareholders' meeting, board of directors, management and employees; the accounting statements that constitute the basis of the company's financial system - costs, assets, liabilities , profit, income, depreciation, etc.

What the blockchain changes is not productivity, it changes production relations. The token system is a great invention. It is not a technology or a financing token, but a new organizational form and operation method that integrates all resources and value sharing. It is the next economic era. The "certification circle" will become a more sustainable circle with the influx of more traditional companies after the "Token circle", "chain circle" and "mining circle".

Token system reform: Token reform, chain reform, certificate reform

Chain is the skeleton, and the pass is the soul. It can make a person and a community come alive. Everyone is a creator and value contributor, and everyone is an owner and enjoyer. This is the real meaning. However, the current token reform and chain reform claim to be decentralized and cannot be tampered with, but they still remain at the technical level. Technology will develop very fast in the future. This is not a problem that needs to be worried about. The biggest problem is whether the production relations have been adjusted. Just like as long as the company is established, financing and share reform are not problems.

The upper layer of the pass is Token reform, financing, ICO, and white paper, which has the function of financing and financial attributes; the lower layer is chain reform, blockchain technology, distributed accounting, encryption authorization, and consensus mechanism , smart contracts, etc. have technical attributes. They are interrelated and form a business logic, which is the core of the certificate. But now the upper and lower parts are separated. People who talk about chains call them chains, and people who talk about tokens call them tokens.

Certificate reform is the operating mechanism of a community. It is the sum of investment, production, distribution, exchange, consumption and other relationships, and has social attributes. It is not determined by the value of the chain, nor by how high the currency is speculated, but by the value of its own operation. The scope of tokens is larger than digital currency and blockchain itself. It is an adjustment of production relations when productivity has developed to a certain stage. Therefore, the future society may enter a token community organization, a token economy, or even a tokenism society.

The token economy is very important. It is the most important target tool for the future market. The economy undergoes fission, and the joint-stock economy turns to the token economy. Blockchain gives everyone a distributed account to manage and calculate people's value, thereby realizing the democratization of the economic system. Stocks are a certificate that distributes dividends based on equity. However, in the context of the digital economy, everyone's data has value. When participating in the distribution, a human value certificate - Token - appears, which is a human value certificate. Calculate using blockchain. This transformation changed the human distribution system so that everyone has the right to participate in distribution. Each person's big data is scientifically measured and essentially reflects a person's ability to create value. The token economy will take a big step forward in the civilization of human society, fully discover human value, better manage human value, and create more human value. Under this system, everyone has the right to freedom based on personal value, and there is no more exploitation and inequality.

To create value, tokens need to be issued through the blockchain. Only when the value of Token is stable can the certificate appreciate. Therefore, the transformation of the token system is a precise distribution and transaction model. Investors get certificates, producers get certificates, distributors get certificates, traders get certificates, and consumers get certificates. Balancing these five relationships requires accurate big data analysis to achieve a balanced and stable growth. mechanism. Therefore, certificate reform is not that simple. Chain reform is the participation of technology, Token reform is the preparation of white papers, and certificate reform can create core value. After centralizationIt is based on the company, and decentralization is based on the token. A completely decentralized company has no value. Is the value of a fully centralized token zero? Does issuing Token mean the embodiment of real pass?

Many company forms will change in the future. Public companies, private companies, credit companies, market capitalization companies, and market capitalization management price-to-earnings ratios are actually issues we need to think about during the transformation of the token system. In the past, opportunities were once in 10 years, 30 years, and 100 years. Now they are once in 500 years. The author believes that blockchain is a very big opportunity. Instead of participating in the Token circle and the chain circle, it is better to create it. Enterprises that truly have the value of blockchain tokens.

❸ What will happen when ICO will be included in the supervision?

On August 28, a China Securities Regulatory Commission insider confirmed to reporters that the recent hot ICO has attracted the attention of regulators. At present, Preparing various materials. "Currently, ICOs are very risky. In the long run, they will definitely be included in supervision."

4 Questions about ICOs

1. Should ICOs be included? Supervision?

Tang Ling, CEO of Zhigui Technology and general sponsor of Molian, told reporters that ICO should be included in supervision. Under the demonstration of wealth effect, there are currently too many "MLM coins" and "air coins". Many projects can be financed before they are confirmed. Investors are crazy about speculating in coins and the risks are high.

Xiao Sa, director of the China Science and Technology Finance Law Research Association, believes that the National Financial Work Conference emphasized the need to strengthen the "professionalism, uniformity, and penetration" of financial supervision, and all financial businesses must be included in supervision. ICOs should also be included in regulations. Financial innovation can only be viable if it complies with laws and regulations. Any violation and abuse will be counterproductive.

Li Lin said that since there is currently no supervision on the use of funds after ICO financing, the whereabouts of the funds after financing is a mystery. He suggested that supervision should pay attention to investor suitability.

2. How should ICO be regulated?

Tian Ying, vice president of OKCoin, believes that the supervision of ICO must first clarify the legal basis. Conduct registration management of ICO companies and open and transparent custody management of tokens raised by ICO. Project sponsors, token circulation platforms, and third-party publicity agencies need to strengthen inspections of project authenticity and increase investor risk education. Effectively control risks. These regulatory measures can be implemented after characterization. Many legal experts also suggest referring to the financial technology sandbox regulatory system implemented in the United Kingdom and Singapore to minimize the contradiction between innovation and risk.

As for how to supervise, Tang Ling suggested setting up project review and due diligence. At present, ICO projects are "self-examination and self-examination". Although the agent investment platform will also review, there is no filing. At the same time, fund custody should be established. In the early days, some media revealed that some platforms used precipitated funds to purchase financial products. This was caused by the lack of fund custody, and it was easy for the platform to run away with the money. In addition, standardized management, fund allocation does not requireGive it all at once. Many entrepreneurs have never seen so much money and don’t know how to spend it, which can lead to problems.

Xiao Sa believes that the specific regulatory focus is: product registration, information disclosure, asset custody, project authenticity, and qualified investment.

“Product filing and registration is an effective method for regulatory agencies to understand and monitor high-risk financial businesses; information disclosure is a regular solution, which can make projects more transparent; asset custody prevents cases involving stakeholders; the authenticity of the project is Minimum requirements for ICO issuers; qualified investment, matching risks and investors at different levels, and restricting speculative funds." Xiao Sa said.

3. What are the difficulties in ICO supervision?

Tang Ling said that the difficulty in supervision is that many platforms can now conduct ICO through smart contracts, especially through Ethereum projects. They can raise money by themselves without going through the platform. There are many private placements and high risks. .

Tian Ying believes that determining the nature of ICO is a difficulty in promoting supervision. ICO is somewhat similar to crowdfunding, but it is not exactly the same. The U.S. SEC recently announced the results of its investigation into THE DAO token, believing that the token falls into the category of securities and falls under the supervision of securities regulatory laws. This determination is also the result of US regulators spending a lot of time on research and analysis. Some non-security tokens may be expected to obtain the right to use certain products, which do not fall into the category of securities.

She believes that ICO is a product of the Internet, and some ICO projects are operated globally. In the management process, international coordination needs to be strengthened. There is also the question of how strong the supervision should be.

Xiao Sa said that there are differences in the industry regarding the nature of ICO. If the essence of ICO is characterized as "barter for goods", exchanging one special virtual currency for another special virtual currency, it can still be explained.

If an ICO project directly raises "legal currency", including RMB, US dollars, euros, etc., it can be understood as a "deposit" that illegally absorbs public deposits. Once it meets the requirements for the crime of illegally absorbing public deposits under Article 176 of the Criminal Law , it may constitute a crime.

Xiao Sa believes that if an ICO project has a dividend clause, it will have an equity mark. If the project has a buyback clause, it is suspected of "guaranteing principal and interest", which is similar to financial products. Financial products are issued without a license. This is actually an illegal business operation. In judicial practice, if illegal operations are difficult to define, then the above-mentioned behaviors are likely to be classified as pyramid schemes. During the promotion process of many ICO projects, there are promotion reward behaviors, such as "getting an investor to return tokens".

4. What is the impact of regulation on ICO?

Weiyou Yuanjie CEO Chu Xia Hu told the Beijing News reporter that regulators should regulate the development of ICOs, especially the establishment of a "qualified investor system" because many ordinary investors do not have the ability to bear high risks. , should not participate in such a high-risk project. If there is no qualified investor system, it will easily cause social problems.

As for the impact of supervision, Tian Ying expressedIt is said that in the short term, it will have an impact on the current market, but in the long term, it will be beneficial to the sustained and healthy development of the entire digital asset industry, and truly make the market healthy first, and then efficient. On the other hand, supervision will also enable high-quality projects to demonstrate their value.

A research report from Huachuang Securities believes that the innovation trend of ICO deserves attention. In the long run, as its influence grows, only by accepting supervision can the healthy and orderly development of the industry be promoted. ICO platforms or projects with strong capabilities are expected to take the lead in embracing supervision, balancing innovative attributes and potential risks, and becoming beneficiaries of the future development of ICOs.

❹ What is Blockchain ICO/Private Equity? Where are the risks of ICO and how to make 100-fold returns

ICO: initial coin offering, also called the public offering and sale of tokens, corresponding to the IPO of the stock market . Just like the blockchain technology itself, ICO is a new financing model of the blockchain that allows everyone to become a "shareholder" of the project. Holding tokens is equivalent to holding equity. After the token sale is completed, trading will usually begin on the exchange. ETH is the first successful ICO project using BTC. The general way to participate in ICO is ETH or BTC. In the early days, BTC financing was more common, but now it is basically ETH. ETH is the hard currency of ICO.

Private placement: Blockchain projects that generally do not participate in public offerings, only a small number of institutions or funds have quotas.

Tangtang has been participating in the blockchain ICO since March last year. At that time, it was nicknamed the "Yunbi Entertainment City". The "Jubi Casino" was selling new coins every day, and almost everyone was 5-100 times, and the daily fluctuations are several times or dozens of times. 9.4 The country has concerns about the risks of ICOs. Many ICOs have had their coins withdrawn, major exchanges have been forced to close or even go overseas, and some project developers have even been warned. The price of many ICO coins has almost halved and then halved, reaching the cost price of the ICO.

But facts have proven that many projects that had their coins refunded basically increased 10-20 times during the bull market in December 2017 and January 2018. Many people undoubtedly broke their legs. Generally speaking, investment projects are much more stable than currency speculation. Due to market fluctuations, it is difficult to hold on to currency speculation, such as 94. Many of Tangtang’s friends cut their shares and left the market with losses.

So far, Tangtang and my friends have invested in at least dozens of projects, and have experienced things like Hero Chain Runaway, Mondo Scammer, and Fcoin Hundred-fold Coin. Overall, we have experienced a lot. There have been many pitfalls and many rewards. The overall return in 2017 was about 10 times. Since January 2018, the investment projects have basically achieved zero break-through, and all have achieved good results of at least 3 times.

Tangtang thinks the main risks of blockchain ICO:

1. Team runs away: Many teams haveIt is a small workshop with little visibility or even non-existence. The white paper is patchwork and can even be written on Taobao for a few hundred yuan

2. Agent investors run away: there are many unscrupulous agents. See If the currency on the exchange has increased many times, it will tell you that you have not invested in it. If it breaks down, it will give you the token. Some proxy investors even run away directly with ETH, which has ruined the industry atmosphere.

3. The white paper cannot be fulfilled: The road map in the white paper determines the future development direction of the team. Many project parties have no intention of completing the project at all, and the road map inside is basically written in random order. In addition, those projects that directly specify which exchange to list on are basically scammer projects. Many exchanges have agreements with the projects. They are not allowed to leak the information until the listing is announced, otherwise the qualification for listing will be cancelled.

4. Blockchain technology: Ordinary people do not understand the underlying technology of blockchain, do not understand the necessity of using blockchain in this project, and cannot identify the technical level of the project. For example, GitHub does not will see.

How to make a hundredfold profit:

Tangtang discovered that the primary market (ICO/private placement) and the secondary market (coin speculation) are mutually transformed. When the primary market breaks down seriously, everyone will go to the secondary market to speculate in coins. When the secondary market becomes more and more difficult to play, everyone will return to the primary market to hunt for gold. After September last year, there were basically no projects in ICO. Everyone was speculating on coins. As a result, after the bull market came, most of these very few ICO projects were more than 10-20 times higher. ICO was very popular in December last year. As a result, when it was launched in January, many coins broke and many people went to the secondary market to speculate in coins.

Therefore, in fact, the bear market is a good time to invest in projects. When the project comes online, it will be a bull market, and you can basically make considerable profits.

However, the popular projects are basically reserved by large institutions, and retail investors can only have access to ordinary projects, and the risks of ordinary projects are slightly higher. Therefore, most people can only participate in investments with institutions.

To this end, Tangtang and her friends have opened up the ICO section to identify and screen good blockchain projects for everyone to participate in investment. We have a professional blockchain technology team to analyze the feasibility of the project, and will also conduct on-site inspections of blockchain projects. If there are big names in the blockchain currency circle, we will also seek verification from them. Let the scammer projects have no way to hide. For high-quality and popular blockchain projects, our organization will directly contact the blockchain project parties to get the best ratio and the largest quota.

❺ This opportunity to make money overnight, the aunt has come to kill you...

I heard that there is a mysterious oriental force in the investment market called the Chinese aunt...
< br />Your uncle is still your uncle, but your aunt is no longer the aunt she used to be.

Wherever Auntie goes, from the big gold chainDajin Watch was cut off when it took over the A-share market at a high level. Now, Auntie has once again entered the world of blockchain.

01

One day in the currency world is one year in the world.

Some time ago, Binance just announced its first quarter profit of US$150 million, surpassing 90% of A-share listed companies.

Indeed, there has never been a technological revolution that has created huge wealth effects in a very short period of time like the blockchain.

Many people involved fell into a state of collective carnival and could not extricate themselves. Money and wealth gathered gold diggers from all walks of life.

Now that aunts have entered the blockchain world, will they become the leverage in the currency circle?

The factory director has recently been researching blockchain and made friends with some practitioners in the industry.

At the Macau Blockchain Conference a few days ago, a group of rich and free aunts took the spotlight with their "one-day trip pose" in front of the booth...

The aunts are here China has a very strong presence and is often marked by the times. Macau is just the tip of the iceberg.

02

As far as financial management is concerned, aunts have always been the most loyal participants in the fashionable wealth-making movement.

From gold in 2013, to the stock market and P2P financial management in 2015, to the property market and stamp cards in 2016, to funds in 2017, and today’s virtual currency.

Make money wherever you go.

Blockchain broke into their field of vision with the aura of getting rich overnight. The currency circle created a new round of financial management movement. Virtual currency has naturally become a new and charming thing in the eyes of fashionable aunts. .

The strange thing is that aunts usually eat leftovers for a few days and are reluctant to throw them away, and they are reluctant to replace furniture after a lifetime, but when it comes to investment and financial management, they are actually willing to invest millions in a project.

The factory director is a coward.

For example, in 2015, the aunt who brought millions of cash to open an account for stock trading heard that stock trading was very profitable, so she took out all her savings without telling her family, hoping to make money to buy a house for her son.

The sources of news for aunts are generally recommendations from acquaintances, media reports, and some road shows. There are not many industry resources, and the news is generally lagging behind.

Most aunts choose to form groups to participate in currency conferences in order to inquire about news and participate in token investments. It is best to get a discount.

However, after the ICO investment bubble burst last year, insider trading became rampant. Projects ranged from business plan writing toFund-raising road shows, ICO market value management, investor relations maintenance, etc. have begun to be carefully packaged, and ordinary people often cannot tell the difference between good and bad.

If you can’t even understand the white paper and buy an altcoin that breaks or returns to zero, you will be the only one left dumb.

The factory director has no way of knowing what gains or losses the aunts will gain from entering the currency circle.

However, in the past few months, words such as air currency, breakout, and supervision have appeared frequently, and the currency circle has fallen into a downturn for a while.

From this point of view, there are still very few aunts who have truly realized their dream of getting rich.

03

What’s more, the world of blockchain itself is a new thing, and the threshold for judging value coins and air coins is inherently relatively high.

Many people are still novices wearing expert coats.

Therefore, we should be cautious and cautious when it comes to speculation in altcoins.

This is a 7 times 24-hour market, and there is no limit on the rise or fall. Apart from eating, drinking and sleeping when necessary, you basically just watch the market.

Although tokens are accompanied by returns of hundreds or even thousand times, the risk of returning to zero is too high.

In an impetuous society where a basement can sell for tens of millions, it is easy to believe in miracles.

However, once a general succeeds, a win-win situation rarely occurs in the capital market. The birth of rich people in the currency circle means that a group of investors have been cut off.

To aunties and all irrational investors, the factory director’s advice is hard to hear: don’t invest if you don’t understand. There is never a shortage of leeks in the currency world.

❻ How to be a project owner in the currency circle

A reporter from China Securities News recently obtained a market value management plan for a blockchain project, which is claimed to be used to guide the project within the validity period of the plan. Currency value management, including the release of phased results of project development work, public relations strategies and behaviors, selection of exchanges, market making, price increase or suppression, and project party arbitrage.
Industry insiders pointed out that market value management plans are common in the industry and are just the tip of the iceberg of the chaos in the currency circle. In the blockchain ecological chain, participants such as exchanges, project parties, and institutions all have irregularities to varying degrees, and many investors have basically become "lambs waiting to be slaughtered." Blockchain technology should be a powerful tool to serve economic development, but many people use the banner of blockchain to actually engage in illegal fund-raising activities such as currency issuance. The industry is in chaos and requires regulatory intervention and regulation.
Fooling into the market
According to the above-mentioned market value management plan, the main goal of the first phase is to attract traffic to the project through a series of actions. The plan lists corresponding indicators, including 5 media publications, 2-3 online live broadcasts, and 3-5 offline roadshows.KOL (opinion leaders) speak out 2-3, establish a telegram group of 50,000 people, a WeChat group of 2,000 people, community cooperation without KPI requirements, strategic cooperation with 5-10 companies, and the top 20 token holders in statistics List; Sign a concerted action agreement with the top 20 private equity parties with token holdings for a period of one month.
Blockchain media is the first to be affected in attracting traffic. The mushrooming development of blockchain media at the beginning of this year shows how hot the market is.
“You can get many project tokens for free by posting a soft article. And the cost of media in the currency circle is extremely low. You don’t need too many people, even one or two.” Chen Song, head of a blockchain media in Shenzhen (pseudonym) told a reporter from China Securities Journal that the popularity of the “3 O’clock Blockchain” community during the Spring Festival this year led to the emergence of a large number of blockchain media. During this period, blockchain media raised funds quickly, and several leading media companies obtained high valuations.
According to incomplete statistics from Zhilian Finance, in the first quarter of 2018 alone, 15 blockchain media received financing, including well-known names such as Babbitt, Bishijie, and Shenlian Finance, with a total financing amount of 245 million yuan. Among them, Babbitt received 100 million yuan in Series A financing in March.
A reporter from China Securities Journal noticed that a technology media originally announced its transition to blockchain reporting, and some even hired blockchain content editors with a monthly salary of more than 60,000 yuan. Ordinary blockchain conference exhibition boards can List hundreds of media outlets. "Many people don't understand the media at all, they just think it's a quick way to make money. They don't verify a lot of the information, they just repost it and plagiarize it, causing rumors to fly all over the market." Chen Song said that behind many blockchain media is actually the project party. You can not only promote your own projects, but also make money by posting soft articles.
Zhang Yun (pseudonym), who previously worked for a blockchain media, said that blockchain media mainly attracts investors through content and then directs them to community operators. Analysts conduct "coin diagnosis" and analyze the market conditions of tokens. He won't sing too much explicitly, but will induce it in a subtle way. “Most of the analysts who appear are from the futures and stock trading markets. They are usually new to blockchain and are not professionals.”
Offline road shows and inviting “big V” platforms are indispensable steps. “In the past, when launching a project in the currency circle, we first found two big bosses to stand up for, and then conducted roadshows across the country. There were so-called proxy investors on site, and proxy investing could attract many investors.” Ren Gang, a senior blockchain entrepreneur (pseudonym) introduced that many investors actually do not understand the technology and applications of the project. They mainly depend on who comes to the platform. Usually the project's white paper is "endorsed" by relevant consultants, and these consultants receive benefits from the project side.
The most important result of attracting traffic is the establishment of communities, mainly WeChat groups and Telegram groups based on overseas social software Telegram. A reporter from the China Securities Journal noticed that usually there are five WeChat groups for a currency issuance project, and there are dedicated personnel to maintain them every day, and many of them have automatic replies from robots. “In the group, we mainly inculcate this currency to investors.It will become a hundred-fold coin or a thousand-fold coin, and randomly post some transaction screenshots in the group to build momentum. In order to increase activity, the project team will also give away free tokens to investors. "Ren Gang said that the community not only plays a role in preheating the project in the early stage, but will also help the project side "maintain order" in the later stage. "When the currency price plummets, investors are fooled not to sell, saying that there will be benefits later. ”
“Harvest” investors
Once investors enter the market, what awaits them will be a carefully planned “harvest” plan by the project side.
The above market value management plan shows that the second stage is In the first month of being listed on the exchange, the main goal is to achieve a 3-fold increase in the token price, and the project party sells about 10% of the number of tokens it controls. At this stage, it still needs to attract traffic, maintain the popularity of the previous period, and maintain the KPI of the previous stage. On the first day the project was listed on the exchange, the token price was 1.5 times the private placement price. The private placement price is defined as P, and the price fluctuated between 1.5P and 2P in the first week. It is expected that some private placement parties and airdrops that have not signed the agreement will sell off at this time. The attracted retail investors will digest this band. The quantitative team maintains the price between 1.5P-2P, and the trading volume remains among the top three projects on the exchange; in the second week, the price fluctuates between 1P-2.5P; In the third week, the price fluctuated between 0.75P and 2.5P; in the fourth week, the price fluctuated between 0.75P and 2P; in the fifth week, the price fluctuated between 1.5P and 3P.
The third stage is the second stage of listing on the exchange. Months, the main goal is to be listed on 1 more exchanges, 2 small exchanges, the price fluctuates between 0.5P-2P. At this stage, the contracted private equity parties are allowed to ship, and then the average price is slightly lower than the private equity price to attract goods The fourth stage is the third month after being listed on the exchange. The purchase has been basically completed. A series of good news have been released. In cooperation with public relations, communities, and strategic partners, the price has begun to rise. The price fluctuates between 1P and 5P. Approximately 400 million have been shipped. The average shipping price of tokens is 3P, and approximately 30 million yuan can be obtained from sales.
Ren Gang introduced that the project team will hire a market value management team before the tokens are listed on the exchange. “First, you need to pay 2 million yuan to Equivalent ETH (Ethereum) ranging from 10 million yuan, and promises guaranteed fees, as well as revenue sharing, either 37% or 50%. If a project does not have a market value management team, the currency price will be smashed to nothing. "He said that market value management generally adopts quantitative strategies, and the team makes buying and selling actions based on corresponding indicators on the market.
"At night, retail investors have gone to bed, and then the bankers can pull the market. When retail investors wake up in the morning and see the price rise, if they follow up, the dealers will cut off the momentum when they see it. "Ren Gang said that another way to play is to drop the currency value to two points, and then private equity and institutions continue to throw away the chips in their hands. "Continue to accumulate funds at low levels, and after complete control of the market, start to pull up, and then attract retail investors to come in. Then harvest retail investors at a high position, and repeat this way. ”
A reporter from China Securities News noticed that the trading strategy mentioned by Ren Gang is basically supported by the aforementioned market value management plan.
Because the digital currency market is currently in a bear market, the prices of many tokens continue to fall. Investors left the market in large numbers, industry insiders joked that "leeks" are not enough. At this time, private equity institutions have become the "prey" of the project side.

❼ What does ICO mean?

ICO (abbreviation of Initial Coin Offering), initial coin offering, originated from the concept of initial public offering (IPO) in the stock market, and is a blockchain project The act of issuing tokens for the first time and raising general digital currencies such as Bitcoin and Ethereum.

ICO is a blockchain industry term and a common way to raise funds for cryptocurrency/blockchain projects, in which early participants can receive initially generated cryptocurrency in return.

Because the tokens have market value, they can be exchanged for legal tender, thus supporting the development costs of the project. The tokens issued by ICO can be based on different blockchains. Common ones are issued based on the Ethereum (ETH) and BitShares (BTS) blockchains, with the blockchain providing accounting services and value consensus to achieve global issuance and circulation.

(7) Extended reading on market value management of blockchain ICO:

The connection and difference between ICO and IPO.

IPO (English abbreviation Initial Public Offering) refers to the issuance method of a joint-stock company to the public for the first time. Compared with ICO, they have similarities and differences.

What they have in common

1. All raise funds by selling shares;

2. All potential investors take risks for the potential huge gains.

Differences

1. Most of the supporters of ICO are project enthusiasts or unprofessional investors;

2. ICO does not require a registered operating license ;

3. The ICO platform is a third-party neutral platform, and investors bear their own risks.

The development history of ICO:

July 2013: Mastercoin (now renamed OMNI) is one of the earliest blockchain projects to conduct ICO. It was once discussed on the Bitcointalk forum Crowdfunding successfully raised 5,000 BTC. Mastercoin is a second-generation coin built on the Bitcoin protocol and is designed to help users create and trade cryptocurrencies and other types of smart contracts.

December 2013: NXT (Future Coin) is the first complete POS blockchain. It raised 21 BTC (equivalent to US$6,000 at the time). Its market value was once as high as US$100 million. For investors, It is undoubtedly one of the most successful ICO projects.

Between 2013 and 2014: Many crazy blockchain projects successfully launched ICOs, and their token prices have skyrocketed. Unfortunately, these ICO projects eventually died due to hype. In the process or directly become a scam. However, during this time, there were also very successful ICO projects, such as Ethereum.

July 2014: Ethereum (Ethereum ETH) has high popularity at home and abroad. It is one of the largest ICOs to date, raising more than 18 million US dollars. It is also the cryptocurrency with the highest market value after Bitcoin. Digital currency.

March 2015: Factom (Factom) used the blockchain technology of Bitcoin to innovate the data management and data recording methods of commercial society and government departments through the Koinify platform ICO.

❽ What is market value management

Market Value Management
What is market value management?
The so-called market value management refers to: the company establishes a long-term An effective organizational mechanism is dedicated to maximizing the company's value, creating value for shareholders, and maintaining a relative dynamic balance among related parties by maintaining accurate and timely information exchanges with the capital market. Try to make the company's stock price serve the realization of the company's overall strategic goals within the company's ability.
Market value management is a strategic management in which listed companies consciously and proactively use a variety of scientific and compliant methods and means based on the company's market value signals to maximize the company's value creation, value realization and value management optimization. Behavior. Its main contents include: maximizing value creation; maximizing value realization and maximizing operating value.
The relationship between market value management and value management
Market value management is based on value management and is an extension of value management. Value management is mainly dedicated to value creation, while market value management is not only dedicated to value creation, but also to value realization.
Value management is a management system based on maximizing the value of the company's shareholders and a management system that emphasizes value creation. Corporate focus on shareholder value creation can effectively balance the conflicting interests of different stakeholders. That is to say, shareholder returns are of primary importance, because only by ensuring that shareholders can receive sufficient returns can a company be favored by the capital market and obtain funds to maintain development. Only other stakeholders can benefit from the company's continued development.
Misunderstandings in market capitalization management
Market capitalization is the product of the listed company’s equity multiplied by the stock price (market capitalization = equity × stock price)
The stock price is a variable that changes rapidly. It directly transmits the real fluctuations of the market. In this case, the market value increases or decreases due to the rise and fall of the stock price. Therefore, changes in market value depend on the market's attitude. In mature markets with strong and effective valuation capabilities, market value is a concrete reflection of the investment value of a listed company and is equal to the wealth value of all shareholders of the listed company. However, in a weakly efficient market like China, the product of equity × stock price is only an external manifestation of market value. The intrinsic essence of market value is that it is a concentrated expression of the company's comprehensive quality or value.
The theory of securities investment tells us that there are two major factors that affect the stock price: one is the internal factor, that is, the intrinsic value of the stock; the other is the external factor, that is, the market’s reaction to the intrinsic price of the stock.Value discovery and recognition. The former is the basis, because price is the embodiment of value. Good value, in theory, will lead to a good price; conversely, without good value, it is difficult to have a good price. Even if a good price appears, it will not be sustainable without the support of value. However, the latter is also an important factor affecting stock prices. Due to the invisible hand of the market, which has its own valuation standards, ups and downs cycles, and behavioral preferences, as well as information asymmetry, stocks of the same value can have premiums or discounts in the market.
Market value difference = stock price difference (if the share capital remains unchanged)
Market value is indeed closely related to the rise and fall of the stock price; but what really determines the market value is not the stock price, but the deep value factors behind the stock price and affecting the stock price ( Profitability, growth prospects, industry status, team quality, governance structure, operating standards, strategic ideas, investor relations), we cannot just determine the size of the market value by the level of the stock price, we should also look at the company's underlying factors.
Market value management = stock price management (or even stock price manipulation)
Market value management does require attention to stock prices, but attention does not mean direct management or even manipulation. Because the stock price is formed by the market, it cannot, cannot, and is not allowed to be managed. From this perspective, market value management is value management, focusing on the value that determines the price basis.
Market value management = catering to the market (main market forces)
Market value management needs to consider market factors (cycles, patterns, market sentiment, investment preferences, valuation standards, etc.), but considering market factors does not mean catering to the market. Not catering means ignoring; if you ignore the market value, the market value will ignore you; market value management is a compulsory course; market value management must follow the laws of the market and take advantage of the situation.
Market value management = the pursuit of maximizing stock price
The rise in stock price does have a direct impact on increasing market value, but maximizing stock price is by no means the purpose pursued by market value management; maximizing the value of the company and shareholders does not mean maximizing stock price. . Value management originated from the theory of corporate value maximization in mature capital markets. We can define value management as "the company uses various means to achieve capital gains that are as high as possible above the investment cost of investors." Value management is to increase shareholder returns through scientific and professional methods and tools - this return will be mainly reflected in the market value of the company's stock.
The embodiment of corporate value involves four aspects: corporate strategy, corporate financial management, corporate governance, and investor relations. These four aspects can be refined into a number of management issues involving all aspects of the enterprise. Compared with simply pursuing high stock prices, good value management of listed companies should be reflected in being widely recognized by the capital market. Institutional investors and small and medium-sized investors must recognize the company's philosophy and intrinsic value, and the market must recognize that the company can maintain sustained performance. Growth and maintenance of valuation targets.
The impact of market value management on listed companies
As a fundamental change in China’s capital market, the completion of the share-trading reform marks the arrival of the era of full circulation. In this new institutional environment, all listed companies willFaced with a problem: how to effectively manage market value and how to effectively motivate management.
Market value management is a profound transformation of the company's business philosophy and philosophy. The core content of this transformation is the transition of the business goal from profit maximization to corporate value maximization. In a mature market economy and international practice, maximizing corporate value (i.e. maximizing market value) has become the highest goal of company operations and a comprehensive indicator reflecting operating performance. The traditional "profit maximization" has become a transitional indicator that pursues market value maximization. This transformation of business objectives. It will trigger a series of changes in business thinking, business content, corporate governance, performance appraisal, management incentives, etc.
In the case of equity split, when the price of non-tradable shares cannot be measured by the tradable price. Shareholders of non-tradable shares tend to aim at maximizing net assets rather than maximizing market capitalization. In order to maintain and increase the value of assets, state-owned listed companies generally choose to use net assets as the core factor in the assessment system of state-owned enterprises.
After the share reform is completed, state-owned shares become circulated and reflect the market price. The value orientation of shareholders is gradually becoming consistent, and the assessment methods of corporate value are also being adjusted in a timely manner. Now including market value as an important indicator in the assessment will help guide the management of listed companies to pay attention to changes in the company's market value and strive to maximize the company's value.
Following equity incentives, the National Xian Committee’s proposal of market value assessment is not accidental. It is essentially two aspects of the same thing: a two-wheel drive for management to strive to maximize the company’s value.
The impact of market value management on the capital market
Full circulation enables all stocks to obtain the right to be listed and circulated, realizing "same shares, same price, same rights", and builds a platform for the market value of listed companies to reflect the company's intrinsic value. Good platform. Investors can evaluate the value of listed companies based on their own expectations, obtain a preferred market value, and then decide whether to buy or sell based on the performance of the listed company's market value. The price discovery function of the stock market begins to recover.
In recent years, the scale of institutional investors in my country's stock market has increased rapidly. Its proportion in the capital market has increased to 25% at the end of 2005, which has improved the investor composition in my country's stock market, made investor behavior in the entire securities trading market more rational, and valued listed companies closer to actual value.
With all stocks able to float on the secondary market, the likelihood of a hostile takeover will increase. A hostile takeover refers to an acquisition in which the acquirer acquires a controlling stake in the target company by purchasing a large amount of shares of the target company without the reluctance of the target company. Publicly traded companies that are undervalued are the most likely targets for hostile takeovers. Sometimes acquirers aim to expand their business scope and increase their influence through hostile takeovers. But what is more common is to buy a company at a low price when its market value is undervalued, and then sell it when its market value returns to normal, thereby earning excess returns. This approach will affect the normal operating activities of listed companies and is not conducive to the long-term development of listed companies. Moreover, hostile takeovers ignore the opinions of management and have negative consequences for the company's internalSaid it was unwelcome. therefore. Listed companies have incentives to manage market value. To prevent its market value from being undervalued.
The relationship between market capitalization management and macroeconomics
Under the condition of split share structure, because stock prices cannot accurately reflect the true value of listed companies, the function of the stock market as a macroeconomic barometer is distorted. In recent years. Although my country's GDP has been growing rapidly. However, the performance of the stock market is not satisfactory, and there are strange phenomena that are contrary to the macroeconomic trend. After full circulation, along with the restoration of the price discovery function of the stock market, the market value performance in the stock market will truly become a reflection of the development of the company, industry, and even the entire macro economy.
Market value management will also have a certain impact on the macro economy.
First of all, as investors' confidence in the stock market recovers, some funds will flow from banks into the stock market. The amount of capital in the stock market increases. Financing channels for listed companies have expanded and financing costs have decreased.
Secondly, the capital allocation function of the stock market is gradually improving, and investors invest in different industries according to their own expectations. This enables capital allocation to be completed through market forces. Microeconomic principles show that market allocation is the most efficient. It can ensure that capital is reasonably allocated among different industries to maximize returns, and those industries with the greatest development potential will be able to attract more funds. The changes brought by market capitalization management to the capital market will promote the development and competition among companies, thereby promoting the healthy development of the entire macro economy.
Problems and Solutions in Market Value Management
Full circulation is the most far-reaching change since the establishment of my country's stock market. The basic functions of the stock market began to improve, and investor confidence was restored. However, because the development of my country's stock market is not perfect enough. There are still some problems with market value management. The fundamental problem is that my country's stock market is a weakly efficient market. Changes in the market value of listed companies cannot quickly and accurately reflect changes in their intrinsic value. A perfect stock market requires the participation of abundant funds, large listed companies as targets, a flexible price mechanism, a good information transmission mechanism and a large number of rational investors. Although my country's stock market has improved in these aspects since the share-trading reform, There has been great improvement, but there is still a big gap compared with developed capital markets.
The good news brought by full circulation has attracted a large amount of funds into the stock market, expanding market capacity, and the market pricing mechanism is gradually recovering. At the same time, as the proportion of institutional investors in the stock market has increased, investor behavior in the market has shown a strong rationality. Full circulation has brought great changes to the market, making the market gradually mature, and the basic functions of the stock market have begun to recover. However, it is difficult to solve all problems by relying solely on market means. Relevant national departments must improve legislation, regulate investor behavior, establish a transparent information disclosure mechanism, and establish a good legal regulatory environment for market value management.
Domestic market value management companies are mixed, and only a few can truly provide services to listed companies. The US stock/blockchain market value management company Black Bull Market Value Management has focused on the market value management industry for more than ten years and has a good reputation in the industry.Excellent, comprehensive business, if you have any needs, you can consult directly.