Virtual money butt

Cryptocurrencies are attracting special attention from the global public and Vietnam is no exception. In fact, the more precise name of this new currency is cryptocurrency, created by complex cryptographic algorithms, based on open source software.
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Cryptocurrencies are traded entirely on the internet environment and are not under the control of any individual, organization or country. The birth of cryptocurrencies was objective on the basis of the world developing digital information technology, especially the 4.0 era.

However, because it is an economic category and also a new kind of currency in a non-flat world with high levels and low differences between countries, virtual currency is a mysterious matrix. Virtual, full of attractions but also extremely dangerous.

There are thousands of virtual currencies in the world, most notably bitcoin, which has caused a fever of hunting, mining, and speculation. Many central bank officials and major commercial banks in the world view bitcoin as a global "multi-level hoax"; Earning virtual money, losing real money, is a bubble that will explode and investors will be empty-handed.
Even the US economist Joseph Stiglitz - the owner of the 2001 Nobel Prize in Economics, said that bitcoin is successful because of its ability to circumvent the law and lack of control, it should not be admitted, it does not obey. service any socially useful function.

But in contrast, central bank governors and many other commercial bankers, financial and monetary experts say that bitcoin in particular and cryptocurrencies in general are the trend of monetary objective development. , is a new invention of humanity. As before, at the dawn of commodity production, humans invented common parallels (like feathers, gems, and seashells) to easily buy and sell different types of products, instead of direct exchange (the ax seller has to find a sheep seller who needs an ax!), then proceed to print paper money instead of real money, which is gold and silver.
Currently, there are many banks, supermarkets, hotels and companies in the world accepting customers to pay for goods and services with bitcoin, meaning that virtual money can buy real goods. Moreover, many newspapers and experts also said that bitcoin has entered a new stage of development that is quite attractive because of its high value, while the worry of inflation and slippage of paper money is increasing due to loosening. quantitative release.

People do not usually buy bitcoins for use in everyday life, but rather the "idiot theory" is expected that someone will buy them back at a higher price. The truth is, a lot of people have become millionaires by investing in bitcoin! This story has a precedent, through the centuries of the stock market, with many millions of investors constantly nervous, depressed and excited when values ​​skyrocket and then plunge again.

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In fact, bitcoin's USD-denominated market cap far exceeds that of US investment bank Morgan Stanley. In 2017 alone, bitcoin has risen about 170 times, mainly due to global investors buying in the expectation that this currency will legally replace gold or traditional currencies.

The first bitcoin transaction by Satoshi Nakamoto sent 10 bitcoins to crypto expert Hal Finey initiated and released on January 12, 2009. As of October 5, 2009, for the first time, the value of bitcoin was fixed on an exchange with a starting price of 1 bitcoin = 0.00076 USD. So far, the price of 1 bitcoin has been equivalent to about 17 thousand to 19 thousand USD (but sometimes dropped to 11 thousand USD and then rose to 15 thousand USD)!
However in Vietnam, the official opinion from the Governor of the State Bank is that virtual money, including bitcoin, is not a legal means of payment; Using bitcoin as a means of payment is not in accordance with the applicable law.
However, the State Bank has not banned, but only warned everyone to be careful with this currency! So, bicoin business in our country (participating in trading floors, installing virtual money miners originating in China, many high-income people) is considered to be smuggling and evading tax Import, with VAT deduction ... or not? Thinking, these will be issues that need research for management.
On this story, I recall the time when I was accompanying the New Steel journalist to welcome the delegation of the Soviet (former) truth newspaper to visit Vietnam, when the Thang Long bridge was just completed in 1985. When the convoy of Volga was black, glossy the powerful speeding up like flying from the path to the most massive bridge at that time, the famous author of "Vietnamese Bamboo" exclaimed, vaguely on his way to socialism! Good thing, what people were surprised and overwhelmed at that time.