On October 31, the Chicago Mercantile Exchange announced that it would launch Bitcoin futures contracts in the fourth quarter of 2017, pending relevant regulatory reviews. The announcement stated that the futures contract will be cash settled based on the CMECF Bitcoin reference value.
Dear teachers, classmates, alumni and friends at home and abroad:
The weather, people, events, and the sun are urging each other, and the winter solstice brings the sun and spring comes again. At this wonderful moment of bidding farewell to the old and welcoming the new, on behalf of the party and government leadership of Tianjin University of Finance and Economics, we would like to extend our most sincere blessings and heartfelt thanks to all the hard-working faculty and staff, to the hard-working students, to the retired comrades who have silently contributed to Tiancai, to the alumni who have always cared about their alma mater, and to people from all walks of life who have always cared about and supported the development of Tiancai! I would like to express my highest respect to the comrades who still stick to their posts during the holidays!
Work together to build a great cause, and work hard to continue the glorious chapter. In the past year, we have thoroughly studied and implemented the spirit of the 18th National Congress of the Communist Party of China, all the plenary sessions of the 18th CPC National Congress and the spirit of General Secretary Xi Jinping’s series of important speeches. We have solidly carried out the "Two Studies and One Action" study and education, promoted comprehensive and strict party governance to extend to the grassroots level, uncompromisingly promoted the implementation of inspections and rectifications, established rules and regulations to build a long-term mechanism, strived to create a good atmosphere of positivity, work and entrepreneurship, and steadily promoted the four major strategies. All the work of the school has shown a good trend of healthy development. The “Thirteenth Five-Year Plan” development plan was formulated and implemented, the “double first-class” construction was launched, and the discipline layout was increasingly improved. The "Tianjin University of Finance and Economics Undergraduate Talent Training Refined Strategic Planning Outline and Implementation Plan" was formulated and issued, fully participated in the fourth round of national discipline evaluation, successfully completed the professional degree point evaluation organized by the Degree Office of the State Council, and continued to deepen the education and teaching reform. The national “Hundreds and Thousands of Talents Project”, Tianjin’s “Thousand Talents Plan for Foreign Experts” and the “Thousand Talents Plan for Youth” projects have achieved zero breakthroughs, and the construction of the teaching staff has been further strengthened. The academic environment continues to be optimized, high-level awards and academic achievements at the national, provincial and ministerial levels continue to emerge, the compilation of the third edition of the Encyclopedia of China (Business Administration Volume) is accelerated, and the integration of Beijing-Tianjin-Hebei and other national strategies has achieved effective results, and the ability to serve economic and social development has been continuously improved. The first Sino-foreign cooperative undergraduate education project has achieved a win-win situation in terms of enrollment quantity and quality, breakthroughs have been achieved in the introduction of overseas talents, and international cooperation and exchanges have continued to expand. The construction of Beautiful Tiancai has been fully implemented, the campus environment has been continuously improved, and beautiful pictures of Tiancai have frequently appeared in the "circle of friends". The "little talents" of Tiancai are brave enough to innovate and realize value through hard work. The National English Speech Contest and the Tianjin General College College Students Mathematics Competition achieved excellent results; the orienteering team won the "National Student Orienteering Championship", "National Orienteering Championship" and "National Orienteering Championship" team championships; Tiancai Women's Basketball Team became one of the two seed teams of the National Student Games Women's Basketball Team with a complete victory record. Players Wu Di and Zhao Zhifang were also selected for the Chinese Women's Basketball National Team for the Rio Olympics, creating a new history of college players being selected for the national team. The School Relations Committee was awarded the title of Advanced Collective in Care for the Next Generation in the National Education System. The East China Alumni Chapter was established. Alumni activities are rich and colorful, and they work hand in hand to seek common development.
The year 2017 is an important year for fully implementing the spirit of the National Conference on Ideological and Political Work in Colleges and Universities, welcoming the successful convening of the 19th National Congress of the Communist Party of China and the 11th Tianjin Party Congress. It is also a critical year for the school to accelerate the construction of "double first-class". We must aim at positioning ourselves as an internationally renowned high-level financial and economics university with outstanding characteristics, adhere to the fundamental mission of cultivating people with morality, stay true to our original aspirations, unite and forge ahead, work together with one heart and one mind, walk in the same direction, ignite dreams with passion, demonstrate achievements with hard work, and continue to write a new chapter with confidence!
I wish our great motherland prosperity!
I wish Mei Tiancai a better tomorrow!
I wish you all a happy new year, good health and happiness to your family!
Secretary of the school party committee: Principal:
"The gold fund fell just after I bought it. Do I need to sell it now?"
"I don't want to watch the market anymore. I'm losing a month's profit in one day."
"I thought I had copied it to the end, but I lost five to six thousand yuan, so I wanted to cut my skin and leave the market."
…
Recently, the international gold price has been fluctuating at high levels, performing a "roller coaster" market, and many gold consumers (883434) and investors are also worried. On social platforms, "The first batch of victims of the drop in gold prices have appeared" and "Some people just bought bracelets and want to return them after the price of gold dropped sharply" became hot search topics.
Some gold investors have begun to discuss whether they should seize the opportunity of the correction and decisively increase their positions, or should they take advantage of the current profits and quickly "take it easy"? In this regard, experts suggest that investors should pay close attention to market changes, rationally assess their own risk tolerance, reasonably control positions, and make prudent investment decisions.
Market sentiment diverges
On October 26, the reporter visited a number of gold stores and banks and found that compared with the market sentiment of "buy more as it goes up" some time ago, the market sentiment has diverged against the background of sharp fluctuations in gold prices.
Some gold consumers (883434) who are in urgent need of gold see the gold price correction and hold the idea of "wait and see", expecting the gold price to fall further; some gold investors come to inquire about the price with the mentality of "buying the bottom", hoping to seize the opportunity to "get on the train"; there are also gold investors who hesitate to "leave the market" after seeing the losses in their accounts for many days.
On October 26, the reporter went to a Chow Sang Sang (HK0116) store in Beijing. The store’s pure gold jewelry (884141) was quoted at 1,224 yuan per gram, a drop of more than 60 yuan from five days ago. The store's sales staff told reporters: "Recently, the number of customers asking 'will it continue to fall' has obviously increased. We can only explain that the price of gold changes in real time. No one can say whether it will rise or fall tomorrow. Short-term fluctuations are normal."
Previously, when gold prices rose strongly, account managers from many banks told reporters that the number of customers coming to inquire about accumulated gold and physical gold bars increased significantly, and some bank account managers took advantage of the situation to recommend gold funds and other products to customers. However, as the gold price fluctuates and adjusts, some investors have experienced losses in their savings and gold fund accounts.
"I watched the price of gold rising a while ago, so I followed the trend and jumped in. It fell so much in just a few days." On October 26, Mr. Li, an investor from Shandong, told reporters that he bought bank deposits on October 20. After that, there was only one day when the account had positive profits, and almost all other times it was losing money, so he planned to "cut the flesh and leave the market."
Taking ICBC (601398) accumulated funds as an example, the opening price of active accumulated funds on October 20 was 969.04 yuan/gram, and the opening price of active accumulated funds on October 21 was 996.27 yuan/gram. On October 22, 1 The opening prices of active accumulation gold on October 23, October 24, and October 25 were 940.38 yuan/gram, 932.66 yuan/gram, 947 yuan/gram, and 941.51 yuan/gram respectively, which were all lower than the prices on October 20.
Experts recommend rational control of investment positions
Gold pricing is diverse and complex. Regarding the market outlook, many experts said that the long-term allocation value of gold deserves attention, and the risk of short-term shocks still exists.
According to industry analysts, the core factor driving this rapid decline in gold prices is profit-taking from profit-taking orders. This round of gold price decline is a phased correction rather than a trend peak. In the medium to long term, the market will return to a long-term driving logic after digesting the short-term negative effects.
China Merchants Bank (HK3968) APP issued a statement stating that for long-term investors, gold can be used as part of the long-term allocation of the investment portfolio to diversify risks and provide stability to the overall investment portfolio. For short-term traders, they need to pay attention to market sentiment, economic data releases and policy trends, from which they may find trading opportunities. Taken together, gold, as a safe-haven asset, has certain investment value in the current market environment.
Dong Ximiao, chief researcher of China Merchants Union, said that in the coming period, global politics, military affairs, and economy will be complex and volatile, which will still provide certain support for international gold prices. Investors should pay close attention to market changes, rationally allocate gold and related products in asset allocation based on their own risk preferences and investment needs, rationally control investment positions, and do not blindly chase ups and downs.
Recently, many banks including Ping An Bank (000001), Industrial Bank (601166), Industrial and Commercial Bank of China (601398), and Bank of China (601988) have announced that they will raise the minimum purchase threshold for accumulated gold to adapt to changes in gold market prices. Many banks, including Industrial and Commercial Bank of China (601398), China Construction Bank (601939), and China CITIC Bank (601998), also issued warnings about the investment risks of precious metals (881169) and advised investors to reasonably control their positions.
On October 31, the CME-Chicago Mercantile Exchange announced that it would launch Bitcoin futures contracts in the fourth quarter of 2017, pending relevant regulatory reviews.
The announcement stated that the futures contract will be cash settled based on the CME CF Bitcoin Reference Rate (BRR-Bitcoin Reference Rate), which is the daily reference value for the price of Bitcoin against the US dollar. Bitcoin futures will be listed and governed by CME Group’s rules. Since November 2016, the Chicago Mercantile Exchange has cooperated with Crypto Facilities to calculate and publish the Bitcoin reference value BRR and develop the CME CF Bitcoin Real-Time Index (BRTI), providing price transparency for the spot Bitcoin market.
Terry Duffy, chairman and CEO of CME Group, said: "With increasing customer interest in the changing cryptocurrency market, we have decided to launch a Bitcoin futures contract. As the world's largest regulated foreign exchange market, CME Group will create space for new financial engines to provide investors with transparency, price discovery and risk transfer capabilities."
Founded in 1848, the Chicago Mercantile Exchange is the oldest futures exchange in the world. It is the largest futures exchange in the United States and the world's leading exchange for buying and selling futures and futures options contracts, providing investors with a number of financial and agricultural products transactions. In December 2002, Chicago Mercantile Exchange Holdings Inc. was officially listed on the New York Stock Exchange.
The announcement stated that the market value of encrypted digital currencies has grown to US$172 billion, with Bitcoin accounting for 54% of the total. The Bitcoin spot market is also growing day by day, with a transaction value of approximately $1.5 billion.
According to the CoinDesk Bitcoin Price Index, after the Chicago Mercantile Exchange issued a statement, at 10:00 Beijing time on October 31, the price of Bitcoin broke a new high of US$6,400, reaching US$6,415.28, and the market value of Bitcoin exceeded US$106 billion.
On January 1, 2017, the price of Bitcoin was below $1,000 and has increased by more than 500%. Bitcoin price trend in the past 12 months:
(Blue Whale Internet Finance: Jin Ziqi)
$GALAXYDOGE coin is an innovative cryptocurrency that combines the Dogecoin community culture and the concept of interstellar exploration. It was born on May 15, 2021. It inherits Dogecoin’s iconic Shiba Inu image and relaxed and friendly community atmosphere, while incorporating space-themed narrative elements to create a digital asset that is both entertaining and practical. The founding team of $GALAXYDOGE coin is composed of blockchain developers and community operation experts. They drew inspiration from the successful experience of Dogecoin and tried to solve the common inflation problem of early meme coins by introducing a deflation mechanism (the total amount is limited to 10 million coins) and innovative token economics design. The project was initially launched on a decentralized exchange, and then gradually gained the attention of mainstream trading platforms. Its white paper emphasized the construction of a sustainable crypto-economic model through the metaphor of interstellar exploration.
The development prospects of $GALAXYDOGE coin are closely related to its unique community-driven model. Compared with traditional cryptocurrencies, it focuses more on gathering user consensus through the Storytelling Economy. For example, it regularly holds interstellar mission-themed events, and participants can obtain NFT rewards by holding tokens or completing community tasks. This gameplay has attracted a large number of young investors, and the number of active addresses on its chain will increase by more than 300% in 2024. At the technical level, the project team announced that it will gradually be compatible with the Ethereum Virtual Machine (EVM) to expand smart contract functions, and plans to cooperate with the space-themed Metaverse project to build virtual consumption scenarios. Despite facing regulatory uncertainty, the $GALAXYDOGE coin has demonstrated strong price resilience in the bear market through a deflationary design that automatically injects 30% of transaction fees into black holes for destruction. Some analysts believe that it may replicate Dogecoin's transformation path from a joke coin to a mainstream asset.
$GALAXYDOGE coin cleverly combines the virality of a meme coin with the functionality of a utility token. Its low-threshold participation mechanism (a minimum of 0.01BNB can be minted) has significantly lowered user entry barriers, while the daily automatic release of token destruction mechanism has created continuous deflationary pressure. This unilateral rising model has attracted a large amount of retail capital inflows in 2024. Unlike similar projects that rely solely on community popularity, the $GALAXYDOGE team actively expands payment scenarios and currently has access to 12 application scenarios including the purchase of space-themed game props and rewards for popular science content. The average daily trading volume on its chain is stable at more than 2 million US dollars, and its liquidity depth is better than 90% of similar niche tokens. The share of Genesis Foundry retained by the project party only accounts for 2%, which is far lower than the industry average of 20%. This decentralized distribution method enhances market trust.
The highlight features of $GALAXYDOGE coin are concentrated in its innovative consensus mechanism and cultural integration. The project pioneered the concept of a consensus minting pool, using 70% of user investment for token minting, and 30% automatically transferred to the black hole for destruction. This design not only ensures liquidity supply but also maintains value stability. In terms of community operations, it regularly holds space explorer online summits, and promotes the use of tokens while popularizing blockchain knowledge through live broadcasts, forming a unique educational and entertaining ecosystem. The technical architecture adopts a dual-chain design. The main chain handles basic transactions, and the side chain supports NFT and game DApp development. This modular expansion solution was named the most creative meme currency upgrade case in 2024 by Blockchain Frontier Magazine. The radical decentralization initiative of the project team to completely give up the administrator's key authority has triggered extensive discussions in forums such as Reddit and is considered to be a practical exploration of Buterin's trustworthy and neutral concept.
As a common investment method, gold investment has attracted the participation of many investors. However, many investors suffer losses during gold investment. The common reasons for losses will be analyzed in detail below.
The first is the lack of market analysis capabilities. The gold market is affected by many factors, such as the global economic situation, geopolitics, monetary policy, etc. If investors lack in-depth research and analysis of these factors, it will be difficult to accurately judge the trend of gold prices. For example, when global economic conditions improve, investors' preference for riskier assets increases, which may cause the price of gold to fall. If investors fail to grasp this trend in time and still blindly buy gold, they may face losses.
Secondly, unstable investment mentality is also an important reason for losses. Some investors are prone to panic or greed when faced with gold price fluctuations. When the price of gold falls, they may rush to sell their gold out of panic, thus missing the opportunity for a subsequent price rebound; and when the price of gold rises, they may chase prices too high out of greed, and suffer losses once the price falls back.
Furthermore, unreasonable trading strategies can also lead to losses. Some investors do not have a clear trading plan and are more casual in choosing the timing of buying and selling. For example, if reasonable stop-loss and take-profit points are not set, when the market trend is unfavorable, the losses will continue to expand; and when the profit target is reached, the profits will not be taken in time, and the profits will eventually shrink or even turn into losses.
In addition, untimely and inaccurate information acquisition will also affect investment decisions. Gold market information changes rapidly. If investors cannot obtain relevant information in a timely manner or the information obtained is biased, they may make wrong investment decisions. For example, some false market rumors may mislead investors and cause them to blindly follow the trend.
In order to present these reasons and their effects more clearly, the following table is used for comparison:
The impact of specific reasons for losses on investment
Insufficient market analysis skills
Lack of research on global economic situation, geopolitics, monetary policy and other factors
It is difficult to accurately judge the trend of gold prices, and blind trading leads to losses.
Unstable investment mentality
Panic or greed in the face of price fluctuations
Missed trading opportunities or excessive pursuit of high prices, resulting in losses
Trading strategy is unreasonable
There is no clear trading plan and no reasonable stop-loss and stop-profit points are set.
Expanding losses or shrinking profits
Information is not obtained timely and inaccurately
Unable to obtain information in a timely manner or the information obtained is biased
Making wrong investment decisions
This article is generated by AI algorithm and is for reference only. It does not involve investment advice. Use at your own risk.
Like many bad ideas from men, it all started with a drunken chat between buddies.
In 1994, a group of Irish guys gathered in a pub in Northern Ireland to celebrate the upcoming marriage of Colin Cather. They exchanged cups and cups and hugged each other. As much as I drank, I said as many words as possible: "Brother, I love you!"
The scene is quite "anxious"...
(schematic diagram)
At breakfast the next day, everyone was hungover and suffering from splitting headaches. They sat together, disheveled, reflecting on the madness of the previous night.
Colin, 26, looked around. These were his best friends.
He has a family, and soon they will too. Colin suddenly lamented at the dinner table. He hoped that everyone could see each other more often in the future, but the adult world has many more responsibilities, and everyone has more responsibilities than they can control.
"How about we have a fake bachelor party every year?" 25-year-old Chris Patterson joked.
Everyone at the table also laughed. But the more they talked, the more they felt that this idea was reliable. It only happened once a year anyway, so why not work hard?
Someone proposed an annual trip using the alphabet as a framework - Aberdeen, Brighton, Caen, Düsseldorf, Eastbourne... all the way up to the 'Z'.
is a good idea.
When Chris returned to London, he designed a special set of invitations inspired by the London A-to-Z map guide. Not everyone had email at that time, so he mailed the letters one by one.
A year later, on June 10, 1996, six people gathered in the Scottish city of Aberdeen. Five of them had served in the British Army, three had known each other since primary school, and this group of closest friends founded the "A to Z Club" here.
"A to Z runs through most of our lives," said Graham Dunlop, 54, a civil servant in Belfast. “It remains constant and is a constant for us outside of our families and partners.”
On that distant night in Aberdeen, they drew up the charter on a menu and solemnly signed it in ink:
Club activities run from Friday to Sunday (sometimes extended to Monday in recent years), with a formal dinner on Saturday, where formal attire and black tie are required.
The club implements a closed membership system and does not accept outsiders.
The chairmanship should be rotated, and the gathering location should be neutral, accessible, and affordable.
During the party, everyone stayed in the same hotel (later they would also rent together after Airbnb became available).
(1997, A to Z Club, Caen, France)
This event program (menu) is still hanging on the wall of Chris’s home.
"If you just read this charter, you will definitely feel that we are not the same people at all," said Brian McKenna, 57, who works in the government in Northern Ireland. "We are not actually particularly like-minded partners. But we have a lot of common experiences and understand each other's values, so we can get along."
This club activity lasted for 30 years.
During each event, they would do a relatively "tourist" thing in the local area: such as visiting the Alhambra Palace in Granada, Spain, watching the Yankees game in New York, and visiting the World War I front lines in Ypres, Belgium.
The rest of the time, they wandered from cafes to bars, drinking, bragging, and enjoying their vacation as they pleased.
"This is a very accidental trip," said Chris, 55, who has retired and lives in Manhattan. "We don't specifically go to see attractions. We prefer to wander around and discover something unexpectedly."
For example, in Jerez, Spain, a few of them once wore tuxedos and accidentally broke into a private party in a castle.
(2023, A to Z Club, Xàbia, Spain)
Of course, their journey isn't always smooth.
The epidemic ruined several gatherings, and some people were absent due to some special circumstances. For example, in 2016, a member was sent to South Korea. There are also financial pressures, and sometimes they have no choice but to choose the UK instead of exotic places in Europe. They went to Brighton, Falmouth, and Virginia, a small village in Ireland, which turned out to be pretty boring.
The year he went to Warsaw, Brian suffered an aortic dissection and was unable to participate.
The year he went to Madrid, Mike Murdoch missed out because of meningitis.
"I heard that meningitis is not as fun as in Madrid," he said with a wry smile.
Accidents aside, the relationship has had its ups and downs. Colin, 57, remembers questioning the entire activity when he was about halfway through the alphabet.
At that time he left Northern Ireland and built a new life with his wife and children in Oxford, England.
He formed a band, made new friends, and was busy with work. To him at the time, the A to Z weekend trip was more like a time capsule buried underground that he wasn't sure he wanted to open yet.
"I told my wife at the time, 'I'm not sure I want to continue because it feels a little out of touch with reality,'" he recalled. "I love these guys, but are we just being nostalgic and remembering the past? I'm not one to look back."
The next party was in New York, and this time, everything was different. This group of older boys no longer just teased and undermined each other, but actually started talking about topics that men are not usually encouraged to talk about.
In the past, they were unwilling to expose their vulnerable sides, but now they candidly talk about marital crises, career bottlenecks, parenting problems, mental health, empty nests, parents' illness... The shell of being aggressive has gradually faded away.
“Some of the one-on-one conversations, it’s more real,” Colin said. "There were probably still tears shed. We finally broke that time capsule."
He said: "You can never make new old friends again. It is important to have a background, a common experience, and a long-term companionship. But the experience of today is equally important, not just the stories of the past."
Chris was also surprised by the transformation.
"Before, no one wanted to show weakness because people were always ready to laugh at you. But now if someone says, 'Something happened at work,' or 'I've been having a hard time,' we all empathize, and others open up."
Of course, the mutual damage is still fierce, but now this kind of "abuse" is wrapped in deep feelings.
(2024, A to Z Club, World War I battlefield in Ypres, Belgium)
Today, A to Z Club is something of a legend in some circles. Some people want to join, and some are even willing to fully sponsor everyone to travel together, just to be able to participate. But all six refused.
Four of the six live within half an hour's drive of Belfast, and they meet individually a few times a year. Chris occasionally flies over from New York. But the most important thing is the annual gathering.
"It's like one of those carnivals that happens once a year," said Neil Hughes, 56, who lives outside Belfast. "It's very precious to me."
(Chris on the left, Neil on the right)
Thirty years after they began their journey, last September they finally completed the last stop of the entire alphabet - Zaragoza in northeastern Spain.
They stayed at a B&B, but accidentally happened upon a Star Wars festival, where they sang Irish songs in a local bar until two in the morning. This weekend perfectly echoes that night in 1994: Club A to Z began with Colin's bachelor party and ended with his divorce.
At the end of the party, they had to face a new problem: the alphabet was over, what to do next?
They discussed selecting cities by the last letter instead, or catching up on missed locations, and they also considered selecting by country instead. Chris suggested having some sort of wine or food theme for the future.
Eventually, they decided to start the alphabet all over again. Of course, they knew tacitly that no one would be able to reach Z completely the second time.
But no one cares because it’s not the destination that attracts them, it’s each other.
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