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Chapter 492 [Mt.Gox declares bankruptcy]

Chapter 492 [Mt.Gox declares bankruptcy]

Author: Zhaolingsiyu

Chapter 492 [Mt.Gox declares bankruptcy]

Behind Blue Fox International, Qunxing Capital provides strong financial support, which is the fundamental guarantee for the maintenance of security forces.

The average equipment configuration of an ordinary member's individual soldier is about 22,000 US dollars. Of course, different types of soldiers require different equipment configurations and the costs are also different.

Fang Hong’s requirement for Blue Fox International is that it must expand to 1,000 front-line employees within this year and 5,000 in the next three years. These are front-line employees, plus other members in non-front-line positions. The entire Blue Fox International

The number of members should reach about 6,500.

The final number of members of Blue Fox International will be maintained at about 10,000 people. This can be regarded as the size of a reinforced synthetic brigade, which is almost enough.

If the local business is doing well and needs more security, just expand the number of employees.

The scale of Blue Fox International mainly depends on the scale of Qunxing Capital's local business development, and the two are positively correlated.

There is no doubt that once such a security force is built, it will basically have no fear of any threats, not to mention walking sideways in the local area. The only threat can be said to be the end of the North Yue or the United States in person.

Now we are playing in the "agent" mode. It is impossible to end the game personally. At best, Heishui can come forward.

But Heishui is definitely not stupid, and he would not dare to take such an order.

A security force like Blue Fox International, apart from having no title, is almost a standard organizational force and is well-equipped. It will even have airports and air forces in the future.

With a scale of 10,000 people, this is not a security force that ordinary people can afford.

The salary and bonuses paid to these members alone cost 3 billion US dollars a year, and if you want to maintain stable operations, it will be difficult to maintain a stable operation without spending tens of billions of dollars every year.

Especially for equipment, the maintenance cost is often greater than the purchase cost because maintenance is long-term.

However, even an annual expenditure of more than 10 billion is nothing to Star Capital.

All in all, when developing markets and investing in turbulent overseas areas, there is no sufficient security force to guarantee it. After the investment, they will be fat sheep waiting to be slaughtered. These necessary expenditures cannot be saved.

After this security force enters the African region and establishes a firm foothold, Stars Capital can send employees there to develop the market, including opening various financial business services. Even so, Stars Capital does not directly come forward, but still works from behind the scenes.

, holding relevant multinational companies on behalf of them to launch various businesses.

In addition to the establishment of financial businesses, it naturally also includes many mining contracting companies, manufacturing commodity export companies, etc.

The first thing these multinational companies did after they arrived was to seek security entrustment from Blue Fox International, which sells security services, especially those that have to contract mines in the local area, which happens to be very turbulent.

Then pay a fee and ask Blue Fox International to provide security and ensure the smooth operation of the mine. There are large-caliber machine guns at the intersection of the mine and mortars to persuade them to retreat. Not just cats and dogs dare to cause trouble.

As long as the funds are in place, Harold Leo can handle the matter of member expansion and equipment procurement. The minimum budget for the scale of equipment Blue Fox International wants to purchase is US$2 billion, which is definitely a large order.

There are so many arms companies around the world. As long as the money is in place, there is no need to worry about getting equipment.

It can be said that among the many problems of Blue Fox International, after the loyalty issue of its main manager was solved by Fang Hong using a system plug-in, there was no need to worry about it, and all the remaining problems could basically be solved with money.

Things at Blue Fox International are progressing steadily, and any new progress news will be sent to Fang Hong.



But let’s talk about the cryptocurrency market.

After Bitcoin experienced nine consecutive surges and hit an unprecedented price of $302.56, it finally experienced a sharp drop the next day. On July 5, the price of Bitcoin plunged to $171.92 during the session.

The largest intraday drop reached the -39.94% level.

However, after the plunge, when everyone thought it was going to halve in one day and start heading towards collapse, the price of Bitcoin stopped falling and rebounded after falling -39.94%. When it rebounded sharply, someone bought the bottom and went long and made 26

percentage point.

Finally, the price of Bitcoin closed at 216.97 yuan today, down -24.20%.

In the next three days, the trend of Bitcoin directly reversed upward. It rose sharply by +8.54%, 10.73% and +10.35% respectively in three days. It closed at a price of 287.75 US dollars on July 8, and the highest price of the day was once

It surged to $300.49, which is only about $2 short of hitting another all-time high.

As a result, it failed to reach a new high and staged another flash crash on July 9. It plummeted -38.79% during the session, but was pulled back to the price of $237.85, closing down -17.34%.

Players in the currency circle now only worship Bitcoin. They feel that it is going to die every time, but the result is that it will not die.

On July 5th, the high negative line was about to collapse. However, after it closed up, it rebounded for three consecutive times and almost hit a new high. Today's big negative line is almost the same as on July 5th. I thought it was time to do so.

It collapsed, only to rebound again.

Based on the trend on July 5th as a reference, the next step should be to continue to rebound upward. Many participants have formed path dependence and boldly followed the trend after July 5th to go long.

It turned out to be a big deal!

On July 10th, the Mt.Gox trading platform began to show signs of explosion. This is currently the largest cryptocurrency trading platform in the world.

During this period, a large number of users began to report online that they encountered problems such as difficulty in performance and frozen funds on the Mt.Gox trading platform. Although the Mt.Gox management team has repeatedly guaranteed the safety of the funds on the platform, everyone began to panic.

In fact, the Mt.Gox management team is encountering more and more troubles, and users who have lost 750,000 Bitcoins on the platform have begun to "force" the Mt.Gox trading platform on a large scale.

When there were nine consecutive surges in the past, these users were still emotionally stable. After all, the nominal value continued to increase and skyrocket.

But things are different now.

They are getting anxious!

Because the trend of Bitcoin is a bit immutable and may even collapse at any time, the original profit of more than ten times may soon return to zero. Can we not be anxious about this?

As a result, more and more users are demanding that the Mt.Gox trading platform either compensate for losses or compensate for Bitcoin.

Not to mention the price of US$300, even at the current price of US$237.85, if 750,000 Bitcoins are to be compensated, the Mt.Gox trading platform will need to spend US$178 million.

There is no doubt that the Mt.Gox platform cannot afford to pay, not even 20 million US dollars.



On the next day, July 11, a piece of news appeared that shocked the entire currency circle.

Mt. Gox officially submitted a bankruptcy application to the Japanese court, and disclosed for the first time the hacker attack incident and the number of Bitcoins "lost" on the trading platform. Its person in charge claimed that a total of 850,000 Bitcoins were "lost", of which 100,000

One is from the company, and the other 750,000 are from users.

Based on yesterday's price of $237.85, the loss was $190 million.

Mt.Gox was simply unable to compensate users for their losses and declared bankruptcy on the same day. The owners of the 750,000 Bitcoins immediately became petrified when they saw the news that Mt.Gox declared bankruptcy.

At the same time, the price trend of Bitcoin collapsed today, and participants who were long and expected to reverse the increase were also petrified.



(End of chapter)


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