"/>

3分pk10-(中国)360百科

Feature: Vietnam strives to rein in risks posed by cryptocurrencies
Source: Xinhua   2018-05-14 17:54:58

by Tao Jun, Tai Bao

HANOI, May 14 (Xinhua) -- Pham Cuong works as a professional interpreter who often travels around Vietnam and abroad. The 60 computers in his room in Vietnam's northern Thai Nguyen province run around the clock all year.

His 30-square meter room has nothing but 10 racks of application-specific integrated circuit (ASIC) devices, each of which has six VGA cards. In other words, the 10 racks, or the 10 rigs, are equivalent to 60 computers which are designed for only one purpose, mining cryptocurrency.

"I bought the first 'plowing buffalo' (Vietnamese slang for ASIC device or rig) at a cost of 50 million Vietnamese dong (2,200 U.S. dollars) early last year, and I added nine plowing buffalos' later," Cuong, the 36-year-old chubby interpreter, told Xinhua.

His first "plowing buffalo" was installed with a Bitcoin mining tool, but it and nine others were later installed with Ethereum mining program.

"Mining Bitcoin used to be very lucrative, but more and more people are becoming Bitcoin miners, while there will only ever be 21 million Bitcoins in the world, so I have opted for another cryptocurrency, Ethereum," Cuong explained, noting that the price of Bitcoin in December 2017 surged to nearly 20,000 U.S. dollars, but now stands at around 9,000 U.S. dollars.

According to the Vietnamese man, there are fewer Ethereum miners than Bitcoin ones, so it is easier to mine Ethereum and trade this cryptocurrency.

"One Ethereum is now worth 700-750 U.S. dollars, and my 10 plowing buffalos' generate 5 Ethereum every month. However, I have to pay a monthly electricity bill of 17 million Vietnamese dong (nearly 750 U.S. dollars), excluding electricity bills for industrial fans (to keep the computers from not overheating), and costs for device maintenance and repair," Cuong said.

It seems to be very easy for Cuong to make money, because his computers operate all day and night with little attention and net him a relatively regular amount of cryptocurrency every month.

But in fact, he faces a lot of risks. "More people jumping in on mining the fixed amount of cryptocurrencies means the amount of cryptocurrencies I can mine become smaller and smaller. And when the cryptocurrencies flow to my electronic wallets, it does not necessarily mean that I have the real money. I have to sell them on virtual trading floors like stock markets, and like stock markets, prices of cryptocurrencies often rise or fall unexpectedly," Cuong noted.

He said he often trades cryptocurrencies on Remitano, a peer-to-peer cryptocurrency exchange developed by a firm registered in the Seychelles. "Remitano website has a Vietnamese version, and I see that it also has Chinese, Japanese, Russian versions and some other languages," he noted.

In Vietnam, mining and trading cryptocurrencies are now not as effervescent as it used to be late last year, but it has still caused some headaches for both miners, traders and authorities and even for ordinary computer users.

In March, 139,000 computers in Vietnam were infected by a cryptocurrency-mining virus, according to a Vietnamese leading online security firm BKAV Technology Group. Spread through online platforms, the virus took control of victims' computers to mine cryptocurrencies without their knowledge.

Cryptocurrency mining by spreading malware like Digmine through Facebook accounts, emails, operating systems' security holes, and USB drives, will increase in the coming times, BKAV predicted.

"The enormous profit from cryptocurrencies is the reason for hackers to circulate the coin-miner virus. The situation will worsen in the coming time," said Ngo Tuan Anh, deputy chairman in charge of security at BKAV Technology Group.

More dangerously, all the mining and trading of cryptocurrencies are conducted through programs and platforms based outside, so some foreign firms have colluded with certain Vietnamese entities or individuals to set up large-scale scams relating to cryptocurrency, especially Initial Coin Offering (ICO).

"In April, many Vietnamese people declared to relevant state agencies and newspapers that two ICOs named iFan and Pincoin, which are operated by foreign companies, had cheated some 32,000 Vietnamese investors out of funds to the tune of some 15,000 billion Vietnamese dong (660.8 million U.S. dollars), an official from the State Bank of Vietnam, the country's central bank, told Xinhua.

That was the biggest cryptocurrency-related scam in Vietnam, the official said, adding that it is, however, very hard to pinpoint the culprits outside the country.

ICO is an unregulated means by which funds are raised for a new cryptocurrency venture. In an ICO campaign, a percentage of the cryptocurrency is sold to early backers of the project in exchange for legal tender or other cryptocurrencies.

Regarding the case of iFan, after raising a large amount of money from investors through inflated and deceitful advertisements, the foreign firm said one iFan was worth 5 U.S. dollars, but in fact, the value of one iFan' dropped to 1 U.S. cent.

Eventually, the Vietnamese company which represented the foreign firm locally, closed, so the investors lost not only their hope of earning profits from holding and selling cryptocurrencies, but also their initial investment using real cash.

"Trading cryptocurrencies, and mobilizing funds through ICOs, especially under Ponzi schemes pose big risks to involved organizations and individuals, and may affect the financial market's stability and social order," the state bank's official said, adding that cryptocurrencies can be used for criminal activities such as money laundering, illegal money transfers, tax invasion and swindling, due to their anonymity and decentralization.

For these reasons, last month, Vietnamese Prime Minister Nguyen Xuan Phuc signed a directive calling for stronger measures to rein in cryptocurrencies. Under the directive, credit institutions in Vietnam are not allowed to carry out cryptocurrency-related transactions and must swiftly report any suspicious activities.

Public companies, brokerages, fund management companies and investment funds are banned from any illegal activities related to cryptocurrencies and are required to comply with anti-money laundering rules.

The government leader also urged the authorities concerned to restrict the import of rigs (coin mining hardware) and double down their efforts to prevent fraudulent activities concerning cryptocurrencies.

Meanwhile, the Ministry of Justice has been tasked with perfecting the legal framework on regulating cryptocurrencies and virtual assets.

"Cryptocurrency mining is not banned in Vietnam, but using cryptocurrencies as means of payment is prohibited, so trading them is very risky."

"The riskier cryptocurrency trading is, the less lucrative mining becomes. Therefore, I plan to sell my plowing buffalos' to focus on my professional work," Cuong said, while carrying out his interpretation work at a construction site in Ho Chi Minh City.

Editor: Shi Yinglun
Related News
Xinhuanet

Feature: Vietnam strives to rein in risks posed by cryptocurrencies

Source: Xinhua 2018-05-14 17:54:58
[Editor: huaxia]

by Tao Jun, Tai Bao

HANOI, May 14 (Xinhua) -- Pham Cuong works as a professional interpreter who often travels around Vietnam and abroad. The 60 computers in his room in Vietnam's northern Thai Nguyen province run around the clock all year.

His 30-square meter room has nothing but 10 racks of application-specific integrated circuit (ASIC) devices, each of which has six VGA cards. In other words, the 10 racks, or the 10 rigs, are equivalent to 60 computers which are designed for only one purpose, mining cryptocurrency.

"I bought the first 'plowing buffalo' (Vietnamese slang for ASIC device or rig) at a cost of 50 million Vietnamese dong (2,200 U.S. dollars) early last year, and I added nine plowing buffalos' later," Cuong, the 36-year-old chubby interpreter, told Xinhua.

His first "plowing buffalo" was installed with a Bitcoin mining tool, but it and nine others were later installed with Ethereum mining program.

"Mining Bitcoin used to be very lucrative, but more and more people are becoming Bitcoin miners, while there will only ever be 21 million Bitcoins in the world, so I have opted for another cryptocurrency, Ethereum," Cuong explained, noting that the price of Bitcoin in December 2017 surged to nearly 20,000 U.S. dollars, but now stands at around 9,000 U.S. dollars.

According to the Vietnamese man, there are fewer Ethereum miners than Bitcoin ones, so it is easier to mine Ethereum and trade this cryptocurrency.

"One Ethereum is now worth 700-750 U.S. dollars, and my 10 plowing buffalos' generate 5 Ethereum every month. However, I have to pay a monthly electricity bill of 17 million Vietnamese dong (nearly 750 U.S. dollars), excluding electricity bills for industrial fans (to keep the computers from not overheating), and costs for device maintenance and repair," Cuong said.

It seems to be very easy for Cuong to make money, because his computers operate all day and night with little attention and net him a relatively regular amount of cryptocurrency every month.

But in fact, he faces a lot of risks. "More people jumping in on mining the fixed amount of cryptocurrencies means the amount of cryptocurrencies I can mine become smaller and smaller. And when the cryptocurrencies flow to my electronic wallets, it does not necessarily mean that I have the real money. I have to sell them on virtual trading floors like stock markets, and like stock markets, prices of cryptocurrencies often rise or fall unexpectedly," Cuong noted.

He said he often trades cryptocurrencies on Remitano, a peer-to-peer cryptocurrency exchange developed by a firm registered in the Seychelles. "Remitano website has a Vietnamese version, and I see that it also has Chinese, Japanese, Russian versions and some other languages," he noted.

In Vietnam, mining and trading cryptocurrencies are now not as effervescent as it used to be late last year, but it has still caused some headaches for both miners, traders and authorities and even for ordinary computer users.

In March, 139,000 computers in Vietnam were infected by a cryptocurrency-mining virus, according to a Vietnamese leading online security firm BKAV Technology Group. Spread through online platforms, the virus took control of victims' computers to mine cryptocurrencies without their knowledge.

Cryptocurrency mining by spreading malware like Digmine through Facebook accounts, emails, operating systems' security holes, and USB drives, will increase in the coming times, BKAV predicted.

"The enormous profit from cryptocurrencies is the reason for hackers to circulate the coin-miner virus. The situation will worsen in the coming time," said Ngo Tuan Anh, deputy chairman in charge of security at BKAV Technology Group.

More dangerously, all the mining and trading of cryptocurrencies are conducted through programs and platforms based outside, so some foreign firms have colluded with certain Vietnamese entities or individuals to set up large-scale scams relating to cryptocurrency, especially Initial Coin Offering (ICO).

"In April, many Vietnamese people declared to relevant state agencies and newspapers that two ICOs named iFan and Pincoin, which are operated by foreign companies, had cheated some 32,000 Vietnamese investors out of funds to the tune of some 15,000 billion Vietnamese dong (660.8 million U.S. dollars), an official from the State Bank of Vietnam, the country's central bank, told Xinhua.

That was the biggest cryptocurrency-related scam in Vietnam, the official said, adding that it is, however, very hard to pinpoint the culprits outside the country.

ICO is an unregulated means by which funds are raised for a new cryptocurrency venture. In an ICO campaign, a percentage of the cryptocurrency is sold to early backers of the project in exchange for legal tender or other cryptocurrencies.

Regarding the case of iFan, after raising a large amount of money from investors through inflated and deceitful advertisements, the foreign firm said one iFan was worth 5 U.S. dollars, but in fact, the value of one iFan' dropped to 1 U.S. cent.

Eventually, the Vietnamese company which represented the foreign firm locally, closed, so the investors lost not only their hope of earning profits from holding and selling cryptocurrencies, but also their initial investment using real cash.

"Trading cryptocurrencies, and mobilizing funds through ICOs, especially under Ponzi schemes pose big risks to involved organizations and individuals, and may affect the financial market's stability and social order," the state bank's official said, adding that cryptocurrencies can be used for criminal activities such as money laundering, illegal money transfers, tax invasion and swindling, due to their anonymity and decentralization.

For these reasons, last month, Vietnamese Prime Minister Nguyen Xuan Phuc signed a directive calling for stronger measures to rein in cryptocurrencies. Under the directive, credit institutions in Vietnam are not allowed to carry out cryptocurrency-related transactions and must swiftly report any suspicious activities.

Public companies, brokerages, fund management companies and investment funds are banned from any illegal activities related to cryptocurrencies and are required to comply with anti-money laundering rules.

The government leader also urged the authorities concerned to restrict the import of rigs (coin mining hardware) and double down their efforts to prevent fraudulent activities concerning cryptocurrencies.

Meanwhile, the Ministry of Justice has been tasked with perfecting the legal framework on regulating cryptocurrencies and virtual assets.

"Cryptocurrency mining is not banned in Vietnam, but using cryptocurrencies as means of payment is prohibited, so trading them is very risky."

"The riskier cryptocurrency trading is, the less lucrative mining becomes. Therefore, I plan to sell my plowing buffalos' to focus on my professional work," Cuong said, while carrying out his interpretation work at a construction site in Ho Chi Minh City.

[Editor: huaxia]
010020070750000000000000011100001371781911
快3彩票购彩平台 大发彩票welcome 彩神 5分pk10 乐彩彩票 快三网站 大众购彩 一分11选5 极速快3 五分快乐十分 大发购彩中心 乐发lll 大发welcome 大发系列平台 东方彩票 五五世纪平台 凤凰快3 乐发IV彩票购彩中心 彩88 凤凰彩票官方网站 5分pk10 五五世纪 山西快3 55世纪购彩平台 乐发lx Welcome彩神 乐发3彩票APP 购彩中心 55世纪-购彩大厅 大发云app 星辰阁彩票购彩大厅 彩神v 大发彩票购彩平台 5分快3 快三彩票购彩平台 大發3分快3 快3平台 乐彩彩票 大发彩票快乐8 乐发IV welcome手机购彩 大众购彩 天天中平台 快盈IV500 幸运快三 买大小平台赚钱 1分快3 彩神彩票购彩平台 大发pk10 彩信平台 三分11选5 快3购彩中心 乐发ll下载app 彩神Welcome登录入口 乐发 采彡神争霸 快盈iv 神彩v8 55世纪官网 大发彩票www官方 凤凰彩票 10分快三 快三彩票官方网站 五分飞艇 乐发彩票官方网站 乐发Vll 大发快乐8官网 乐发app 大发彩票welcome 幸运5分彩 百姓快3 百度彩票 彩神网 大发彩票 3分快三 快3彩票 一分11选5 极速快3 五分快乐十分 大发购彩中心 乐发lll 大发welcome 大发系列平台 东方彩票 五五世纪平台 凤凰快3 乐发IV彩票购彩中心 彩88 凤凰彩票官方网站 5分pk10 55世纪 重庆快3 55世纪官方网站 乐发VI 彩神 乐发Ⅲ welcome大发彩票 大发购彩大厅welcome 百姓快三 名发app PK彩票 大发彩票购彩平台 5分快3 快三彩票购彩平台 大發3分快3 快3平台 乐彩彩票 大发彩票快乐8 乐发IV welcome手机购彩 五分快三 10元投资彩票赚钱平台 鼎发彩票 彩神iv争霸 网信快3 一分快3 凤凰彩票app下载 3分pk10 乐彩 湖南快3 快3购彩平台 乐发lv 彩神Welcome入口 乐发1 彩神8 百姓彩票welcome 一分三可空降可约app下载 彩神ix 彩票宝 大发彩票app下载 10分快3 快3彩神官方网站 四川快3 乐发彩票购彩平台 乐发彩票ll 大发快乐8官方网站 乐发app下载 welcome凤凰彩票 万乐彩 在线快3 百度彩票 彩神网 大发彩票 3分快三 快3彩票 一分11选5 极速快3 五分快乐十分 大发购彩中心 乐发lll 彩神welcome 乐发网投平台 网信彩票 优彩彩票 彩神8v 网信快三 乐乐彩 凤凰彩票购彩平台 10分pk10 55世纪 重庆快3 55世纪官方网站 乐发VI 彩神 乐发Ⅲ welcome大发彩票 大发购彩大厅welcome 百姓快三 名发app PK彩票 大发彩票购彩平台 5分快3 快三彩票购彩平台 大發3分快3 快3平台 分分快3 大发快乐8 乐发ll welcome购彩中心 五分快三 10元投资彩票赚钱平台 鼎发彩票 彩神iv争霸 网信快3 一分快3 凤凰彩票app下载 3分pk10 乐彩 湖南快3 55世纪购彩平台 乐发lx Welcome彩神 乐发3彩票APP 购彩中心 55世纪-购彩大厅 大发云app 星辰阁彩票购彩大厅 彩神v 大发彩票官方网站 五分快3 快3彩票购彩平台 三分PK10 乐发彩票 乐发国际 大发快乐8购彩平台 乐发III 手机购彩 一分快3平台 彩神v8 快三网站 天天彩票 快三平台 1分快三 彩神彩票官方网站 大发三分快3 极速快三 三分PC蛋蛋 彩神购彩中心 乐发lll下载 彩神welcome 乐发网投平台 网信彩票 优彩彩票 彩神8v 网信快三 乐乐彩 凤凰彩票购彩平台 10分pk10 快三彩票官方网站 五分飞艇 乐发彩票官方网站 乐发Vll 大发快乐8官网 乐发app 大发彩票welcome 幸运5分彩 百姓快3 vip彩票购彩大厅 直播快三 彩神彩票 3分快3 快三彩票 大發5分快3 极速快3购彩平台 分分快3 大发快乐8 乐发ll welcome购彩中心 五分快三 10元投资彩票赚钱平台 鼎发彩票 彩神iv争霸 网信快3 一分快3 凤凰彩票app下载 3分pk10 乐彩 湖南快3 快3购彩平台 乐发lv 彩神Welcome入口 乐发3彩票APP 购彩中心 55世纪-购彩大厅 大发云app 星辰阁彩票购彩大厅 彩神v 大发彩票购彩平台 5分快3 快三彩票购彩平台 大發3分快3 快3平台 乐彩彩票 大发彩票快乐8 乐发IV welcome手机购彩 大众购彩 天天中平台 快盈IV500 幸运快三 买大小平台赚钱 1分快3 彩神彩票购彩平台 大发pk10 彩信平台 三分11选5 快3购彩中心 乐发ll下载app 彩神Welcome登录入口 乐发 采彡神争霸 快盈iv 神彩v8 55世纪官网 大发彩票www官方 凤凰彩票 10分快三 快三彩票官方网站 五分飞艇 乐发彩票官方网站 乐发Vll 大发快乐8官网 乐发app 大发彩票welcome 幸运5分彩 百姓快3 百度彩票 彩神网 大发彩票 3分快三 快3彩票 一分11选5 极速快3 五分快乐十分 大发购彩中心 乐发lll 大发welcome 大发系列平台 东方彩票 五五世纪平台 凤凰快3 乐发IV彩票购彩中心 彩88 凤凰彩票官方网站 5分pk10 五五世纪 山西快3 55世纪购彩平台 乐发lx Welcome彩神 乐发3彩票APP 购彩中心 55世纪-购彩大厅 大发云app 星辰阁彩票购彩大厅 彩神v 大发彩票官方网站 五分快3 快3彩票购彩平台 三分PK10 乐发彩票 乐发国际 大发快乐8购彩平台 乐发III 手机购彩 一分快3平台 10元投资彩票赚钱平台 鼎发彩票 彩神iv争霸 网信快3 一分快3 凤凰彩票app下载 3分pk10 乐彩 湖南快3 快3购彩平台 乐发lv 彩神Welcome入口 乐发1 彩神8 百姓彩票welcome 一分三可空降可约app下载 彩神ix 彩票宝 大发彩票app下载 10分快3 快3彩神官方网站 四川快3 乐发彩票购彩平台 乐发彩票ll 大发快乐8官方网站 乐发app下载 welcome凤凰彩票 万乐彩 在线快3 百度彩票 彩神网 大发彩票 3分快三 快3彩票 一分11选5 极速快3 五分快乐十分 大发购彩中心 乐发lll 彩神welcome 乐发网投平台 网信彩票 优彩彩票 彩神8v 网信快三 乐乐彩 凤凰彩票购彩平台 10分pk10 55世纪 重庆快3 55世纪官方网站 乐发VI 彩神 乐发Ⅲ welcome大发彩票 大发购彩大厅welcome 百姓快三 名发app PK彩票 大发彩票购彩平台 5分快3 快三彩票购彩平台 大發3分快3 快3平台 乐彩彩票 大发彩票快乐8 乐发IV welcome手机购彩 大众购彩 天天中平台 快盈IV500 幸运快三 买大小平台赚钱 1分快3 彩神彩票购彩平台 大发pk10 彩信平台 三分11选5 快3购彩平台 乐发lv 彩神Welcome入口 乐发1 彩神8 百姓彩票welcome 一分三可空降可约app下载 星辰阁彩票购彩大厅 彩神v 大发彩票官方网站 五分快3 快3彩票购彩平台 三分PK10 乐发彩票 乐发国际 大发快乐8购彩平台 乐发III 手机购彩 一分快3平台 彩神v8 快三网站 天天彩票 快三平台 1分快三 彩神彩票官方网站 大发三分快3 极速快三 三分PC蛋蛋 彩神购彩中心 乐发lll下载 彩神welcome 乐发网投平台 网信彩票