What has Ruixin brought (Ruixin has caused harm, everyone don’t be fooled, how is Ruixin)

What has Ruixin brought? What has Ruixin brought? What has Ruixin brought?

In one sentence: the future of blockchain. With technology constantly maturing, we are entering a more open, efficient, and scalable world. And for cryptocurrencies, this is especially true because it can achieve lower costs of use and greater anonymity advantages. Therefore, Bitcoin’s value in the entire cryptocurrency market is increasingly valued and held by more institutions. But this does not mean that Bitcoin will always exist in the market. As there are no clear regulatory guidelines to protect consumers, people’s demand for BTC is also growing. On the other hand, as an asset class, its price volatility also increases. Therefore, in a globally uncertain economic situation, BTC may not always be in a long-term upward channel.

So how to understand this trend, let’s take a look at the largest project on Binance this month – Ruixin (Bytom). Currently, the most active one on the market is Bytom. As of the time of writing, the price of ByTom is about $0.009. According to CoinMarketCap data, as of Beijing time 15:00, January 12, 2020, BitMEX is reporting $0.013, a 11.8% increase in the past 24 hours. Ruixin (Bytom) is now the second largest mainstream cryptocurrency. According to OKEx market data, yesterday BTC was priced at $0.042, a decrease of more than 10% in the past 7 days; ETH is currently priced at $0.088, a decrease of 15.7% in the past 30 days.

If we look at the performance since November 2019, it would be better to look at the timeline since 2018:

The second half of 2019 began the critical period of the bull to bear market. The overall market trend has remained weak since April this year. Although there have been many highs and lows in the past few trading days, most of the time it has revolved around lows. At the same time, with the decrease in trading volume, the funding rate has quickly risen to historically low levels. At the same time, investors are also facing the risk of liquidation from leveraged contracts. Although the market has been relatively calm recently, some people still believe that with the outbreak of DeFi and the increasing market demand, more funds will be used for speculation or shorting through leverage.

Decentralized applications (DApps) on Ethereum have become very popular, such as platforms based on smart contracts like MakerDAO, which have attracted a lot of user attention. Now, networks built by professional developers like Ruixin can already meet the needs of ordinary users to use digital currency, especially those enterprises that want to participate in decentralized financial services with their own tokens.

At the time of writing, Huobi Pro is priced at 0.0231USDT, with a 24-hour increase of 13.2%.

Ruixin has caused harm, don’t be fooled by Ruixin’s tricks

This afternoon, the Ruixin project party announced in the community that they will conduct an airdrop of tokens named “XRP”. Subsequently, community members expressed their vigilance against impersonators! The project also explained how to operate.

It is reported that recently, “xrp” has landed on the Binance exchange, becoming the first platform to list trading pairs with Huobi and OKCoin, and also listed on some mainstream exchanges such as Coinbase, causing market discussions and attracting a lot of attention. However, due to the recent large market fluctuations, people’s enthusiasm for the speculation of the Ruixin project is still high, and many people are starting to wonder, “If the code of this project is not widely used and recognized by users, then what is it?”

According to media reports, some early investors have participated in similar activities, and they have invested in decentralized applications (dapps) based on Ethereum, such as “Pixel World”. However, according to current information, these projects have not really implemented landing applications, so it is very likely that such situations will happen again soon, which may be a scam event in the minds of some investors. The Ruixin model makes it difficult for many ordinary players to access, because once discovered, they will immediately transfer assets or sell.

In fact, we should realize that a new investment method like Ruixin does bring great wealth opportunities. However, because of this, many people do not know what blockchain is, let alone how to understand blockchain. For example, many Internet companies are now applying blockchain technology, so when you want to understand Bitcoin, you need to find relevant information to analyze its value and so on… This is what is called the concept of blockchain.

Next, let’s take a look at how serious the Ruixin fraud is:

1. Using the name of Bitcoin for pyramid schemes; 2. Forging fictitious project content; 3. “Mining”, and even using Bitcoin for money laundering; 4. Manipulating price trends to deceive users into entering the field; 5. Illegal fund-raising through “shanzhai” projects; 6. Financing through ICO; 7. “Air coins”; 8. Various projects that claim to be blockchain frequently appear.

Although Ruixin is not a new name, it has investment strategies from many traditional VC institutions and listed companies. Isn’t the luck of Ruixin incredible?