Coin speculators seek new ways to make money: dumping USDT, router mining, virtual coin gambling

The regulation can’t wake up the coin speculators who dream of getting rich.

Coin speculators seek new ways to make money: dumping USDT, router mining, virtual coin gambling

Virtual currency regulation is getting stricter and stricter. According to the official website of the Central Bank on June 21, the relevant departments of the People’s Bank recently interviewed some banks and payment institutions such as ICBC, Agricultural Bank, Construction Bank, Post and Reserve Bank, Industrial Bank and Alipay on the issue of banks and payment institutions providing services for speculation in virtual currency transactions.

With the fading of the cryptocurrency boom in April, the bank accounts of some speculators were frozen.

Under heavy pressure, many disillusioned people began to explore other ways to make money in the cryptocurrency circle.

Wang Yong, who lost tens of thousands of dollars he had previously earned on the dog coin contract trading, is trying to sell USDT (Teda coin) at home and abroad. From May 25, Wang Yong was able to make a profit of 10,000 yuan a day at the highest. Seeing the opportunity, Wang Yong invested 100,000 yuan and decided to take a chance.

Chen Feng is in the speculation of coins on the road “continuous water reverse”: long dog coin, dog coin plummeted; May 1 short dog coin, and encountered the fire coin network unplugged ten minutes, the dog coin rose sharply after the direct explosion.

The money Chen Feng earned before was all lost. The continuous reversals also made Chen Feng slowly lose his enthusiasm for coin speculation. On the advice of friends who speculate in coins together, Chen Feng turned to router mining.

Right now, Chen Feng is carrying a monthly mortgage of several thousand and has to pay off ten credit cards at the end of the month. Compared to the excitement of the ups and downs of coin speculation, in Chen Feng’s vision, router mining to make money is smoother.

But in reality, every day the points earned from router mining are less than expected, and Chen Feng’s goal has changed from making money at the beginning to being able to return the capital.

Last month even buy several shi coins have stepped on the mines of speculators Zhang Li, now began to virtual currency as worthless, “what faith, are because they bought (so have faith), can give me money is faith.”

Just in time for the European Cup, Zhang Li, who failed to speculate in coins, pinned his new hope of making money on virtual coin betting. He chose a software platform called Abbott, Hungary vs Portugal match, bet two hundred with wave gallons, similar multiple operations, and won two thousand in one night. The same is true for the coin speculation to gambling, Hou Ming’s tired investment of several hundred dollars were lost, he mocked himself “gambling and speculation coins, and is to send heads”.

In May, under the national policy crackdown, many bitcoin trading platforms announced service shutdown, each virtual coin prices have dived.

On the night of May 25, when the outside world was wailing and leeks were dumping coins and cutting meat, Wang Yong noticed that the price of USDT had fallen significantly, and that there was a stable spread in the trading of USDT on Firecoin and Hitbtc, and that the coins were smoothly charged, so he and his foreign friends moved an all-nighter that night.

After the first taste, Wang Yong and his friend continued to cooperate: Wang Yong was responsible for buying USDT domestically, and his friend was responsible for selling it to foreign third-party platforms. For several days, Wang Yong ran back and forth with a capital of 100,000 yuan, buying at a domestic price of 6.1 yuan and selling at a price of 6.6 to 6.7 yuan abroad, buying 20,000-40,000 USDTs every day and selling them back and forth repeatedly.

Relying on the high demand abroad, Wang Yong, who can complete a move every 20 minutes, makes a profit of about 10,000 yuan every day.

USDT is chosen because it is a virtual currency that pegs cryptocurrencies to the legal tender, the U.S. dollar. USDT coins are equivalent to the same amount of U.S. dollars, i.e. 1 USDT = 1 U.S. dollar, which makes it a good value-keeping token in the highly volatile cryptocurrency market.

Because speculators need to buy USDT with RMB before exchanging it for other virtual coins, USDT has become the first choice for Wang Yong.

This kind of operation is commonly known as “bricking” in the cryptocurrency world, and what you earn is the difference between buying low and selling high.

On June 1, after a number of failed dog coin contracts, Chen Feng felt that the days of coin speculation could not be expected, plus he had a mortgage on his body, the need to make money was even more urgent.

The first thing you need to do is to get a good idea of what you are getting into.

The router mining is not really a mine, but the use of the router’s idle bandwidth resources, in exchange for the corresponding manufacturer’s earnings. This income is similar to “electronic money”, such as the Jingdong cloud router mining is points, points can be exchanged for Jingdong E card, can be directly realized when shopping.

So far, the router has become a “mining machine”, and the owner of the router has become a “miner”.

The premise of the router “mining” is that the first electricity is not expensive, the second idle broadband, these two conditions are met by Chen Feng.

Friends to Chen Feng calculate an account: a single router a month with about 8 yuan electricity, every day each router can dig about 300 points, equal to three yuan, a month can earn about 90 yuan.

According to this calculation, fast if more than six months to pay back, and then later, the longer the time, the more machines to earn more, a year more than 100,000 points are possible.

In addition, you can also pull the wool of Jingdong. Chen Feng found out that the Jingdong out of a policy, as long as (purchase router) in a year did not return capital, the platform will subsidize until 0 yuan to buy back capital, “the worst benefit is also free to earn a router”, have the same energy, speculation coin is better to go mining.

Chen Feng and a friend two people together, decided to invest tens of thousands of funds into.

The Dragon Boat Festival holiday, Chen Feng spent 20,000 yuan in the e-commerce platform to buy nearly a dozen Jingdong cloud router, prices range from a few hundred dollars to thousands of dollars, and so the router back home, ready to sit and wait to get rich. “The sooner you enter, the sooner you get rich.”

The same as the speculative coin disillusioned, Zhang Li’s speculative coin road is also bumpy, last month bought several consecutive shi coin stepped on mines, he changed his group nickname to “loss of only the bottom”, more than twenty days did not touch the virtual coin.

Recently, when Euro 2020 was held, Zhang Li saw someone in the group keep sharing a screenshot of a platform called Abbott, saying that he was gambling with virtual coins in Abbott. At first, Zhang Li had doubts about it, but later, after his own search and verification, he found out that AWE is the sponsor of several teams, “should not run away”.

The company’s main goal is to provide a good service to its customers. Last year’s World Cup betting, his single all in, but finally by the platform banker ran away.

This year, Zhang Li decided to try it with virtual coins. In the App provides the payment method, choose the virtual coin top-up can get the official additional 0.6%. From June 12 to the present, Zhang Li will soak in the above several hours every day, gambling a single three or four every day, a single bet tens to hundreds.

But these new financial routes are not new.

Selling USDT, as early as 2018, has been tried.

The alphabet list found that some netizens who have sold USDT claimed on virtual coin forums that the risk of moving bricks is very high, receiving black money when selling USDT, and having their bank cards and accounts frozen happens from time to time. Moreover, even if this kind of bricking can make 10% profit each time, it consumes a lot of time and energy of the speculator, and if the difference is not large, the input-output ratio will seem uneconomical.

And the bigger risk of USDT is that the issuance is completely centralized, that is, the issuance, acceptance, supervision and operation are all centralized in a company called Tether. Once Tether is shut down, USDT on the market will be exposed to the risk of acceptance and will immediately depreciate in value.

This is not without precedent.

USDT first went on the blink in October 2018. At that time, it was exposed in the media that the market value of USDT in circulation was greater than the actual asset reserves, which directly led to a sharp drop in USDT prices by 11%. Before the panic, a large number of USDT was sold off and cashed in for BTC, causing the BTC price to be pulled up quickly.

In April 2019, USDT was mined for a second time. tether officially admitted that only 74% of USDT was backed by cash and equivalents, causing the market to fall into panic again.

Router mining is also not new, having taken off back in 2018.

Compared to miner mining, router mining is cheaper and cheaper. At that time, Fei Xun, Shimeji, Lenovo and Xunlei were all avid participants, having launched router mining-related projects one after another.

Xunlei Playcloud was the first manufacturer to take the lead in making mining routers. These companies need bandwidth resources and storage space, and the router owners get paid accordingly for paying for broadband and storage space, which is not so much mining as it is renting in disguise.

Over the past few years, there have been a handful of router manufacturers that have gone on the blink.

The P2P platform i wealth of the extreme route cooperation because of illegal absorption of public deposits was seized by the public security; FeiXun because 0 yuan to buy old users to pull new users, the new user’s money back to the old users, resulting in a broken capital chain by the police investigation; Xunlei, Lenovo, Jingdong investment in the new road by 3 was also exposed to the media “fraudulent” behavior.

Virtual currency gambling is always wandering in the regulatory red line.

During the 2018 World Cup, the dark online gambling website was opened, claiming to be the “world’s first”, supporting the world’s common network virtual currency Bitcoin, Litecoin and other withdrawals, 20 days betting amounted to more than ten billion yuan, attracting a large number of fans to bet on football, part of the gambling participants who were deeply involved in it, and finally lost their fortune.

In 2018, the police in Maoming, Guangdong Province, successfully cracked down on more than 20 gangs involved in the case, destroyed more than 70 gambling apps and websites, shut down more than 250 chat groups on online social networking platforms, and froze more than 260 million yuan in the amount involved.

Zhang Li, who is addicted to virtual coin gambling, currently has a spring in his step, winning 11 consecutive games and more than 20 singles, and often shares his gambling experience tips in the speculative coin group. However, since gambling on football, his cell phone often receives several fraudulent calls from Hong Kong in a day, which makes Zhang Li annoyed.

The actual fact is that you can find a lot of people who are not able to get a lot of money from the internet. The company’s main business is to provide a wide range of products and services to the market.

England 1-0, Belgium 3-0 and other single continuous go short, although the bet is not large, only a few dozen to a few hundred, but each time lost, watching hundreds of dollars down the drain, Hou Ming stopped gambling in time.

The company’s main goal is to provide the best possible service to its customers.

And Chen Feng apparently thought of router mining too simply.

In Chen Feng’s vision, as long as you buy a router and keep it on every day, the router itself can work to mine for him to earn points for money.

Although the router does save more energy than dumping Usdt, but the actual buy home, Chen Feng home network speed has become significantly slower, not to mention that the daily points gained is not as much as expected.

For example, if the family turns on the TV, the points of the day only 20 more. Several routers add up to less than ideal results, Chen Feng is very frustrated, “now just begging to get back to the capital.”

Wang Yong side, although the peak can earn 10,000 a day, but such a brick moving days will not last long. Recently the price of domestic USDT began to rise to 6.4 yuan, Wang Yong found that the profit of bricking USDT is shrinking, and then counting the cost of processing fees and energy paid, basically not profitable.

The road of making money by bricking USDT is no longer viable, and do not want to speculate on coins, Wang Yong recently moved to mining, spent nearly 40,000 to buy six graphics cards, began to prepare for mining.

On June 16, the fourth-ranked question on Zhihu’s hot list was, “How do you see the behavior of a large number of video cards being photographed but not paid for in Jingdong on June 14?”

The answer that got the highest praise was, “The heat of the mining wave has faded, miners have basically stopped collecting cards, and the total computing power has fallen by more than a tenth, so why are graphics cards still high priced and why do they just mean down, because they still want to make big money and are still gambling, gambling on another wave of mining wave soon, and can happily harvest leeks again.”

(In the article Wang Yong, Chen Feng, Zhang Li is a pseudonym)

Posted by:CoinYuppie,Reprinted with attribution to:
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