The Magician’s Memorial - Chapter 451



Only Krnovel

451. Variable Creation (1)

The most famous Bitcoin exchange, of course, was the fintech bank.

It was the first to start trading Bitcoin, and unlike other exchanges, it managed transactions directly through large banks, so many users used fintech banks.

However, exchanges that offer cheaper fees began to emerge.

In particular, it was losing market share to exchanges that allowed trading of altcoins that were sprouting up like mushrooms.

That’s why Diamond was so interested in altcoins.

My eyes lit up when I heard that the next project was an altcoin.

“Fintech banks have also tried to list several altcoins, but there are only a few that are highly trustworthy.”

“If altcoin trading is possible, it will definitely be a big help to the sales of fintech banks.”

“But the risk is too high. There are too many cases where they just register altcoins on exchanges and then run away with the money or try to scam customers. If that happens, fintech banks will also have to take some responsibility, so we are conducting strict screening.”

How many coins can you trust?

While the desire to increase sales is understandable, fintech banks had no choice but to distance themselves from altcoins, also known as ‘junk coins’.

“Don’t list on exchanges unless you have a highly trusted Bitcoin. If fintech banks firmly hold the center, customers will come back on their own.”

“Still, I can’t help but feel regretful. By the way, which altcoins are you planning to invest in?”

“I’m thinking of investing in Ethereum. It’s the most trusted altcoin outside of Bitcoin.”

There aren’t many Bitcoins that I remember.

Among them, the most memorable coin was Ethereum.

Nowadays, all coins except Bitcoin are called altcoins, but before the regression, Ethereum had such high reliability that it was excluded from the altcoin category.

“If it’s Ethereum, there was a major hacking issue last year.”

“There was a similar problem in June last year.”

“It was hit so hard that it could have been delisted if it were a stock. Its value, which used to be over $20, has now been cut in half and is now being traded at around $8.”

“It’s the same with stocks and coins. If you buy them at a low price, you can make a big profit.”

“Do you think now is the lowest point?”

The price of Bitcoin has soared above 20 million won.

In contrast, Ethereum is priced at just $8, but it will surpass $1,000 in just one year.

If you calculate it simply by arithmetic.

You could see a profit of 125 times.

Of course, if financial tower financial companies buy at the same time, the price will rise significantly, so profits are bound to decrease.

“It’s the lowest point. If you buy now, you’ll make at least 10 times the profit. Even if the financial towers buy at the same time.”

“If you add up the entire market capitalization of Ethereum, it’s only about $10 billion at best. Isn’t that too small a pie for the financial towers to divide up?”

“So we should leave it up to the financial institutions to decide. We will divide the financial institutions that will invest in oil prices into those that will invest in Bitcoin and altcoins.”

Wall Street’s financial firms have a secretly conservative nature.

They were also reluctant to invest in Bitcoin, a new financial asset.

But, it goes without saying that altcoins are less reliable than Bitcoin.

“It will be largely divided depending on the financial institution’s tendencies. Conservative financial institutions will choose oil prices, moderates will invest in Bitcoin, and only progressive financial institutions will invest in altcoins.”

“High risk, high return applies here too. If everything goes according to plan, the financial companies that invest in altcoins will make the most money.”

“Hmm, then our Quantum Fund will try to move progressively just this once.”

Representative George, who had been quietly listening to the story, spoke up.

Quantum Fund was the most conservative financial company among the financial companies in the financial tower.

Because I was focusing my investments on currencies that had a longer history than stocks.

“You don’t have to do that. It’s just a place to temporarily invest until the hegemony struggle between the U.S. and China becomes full-blown.”

“No. There’s something I’ve realized while working with you so far. If you listen to what you say and follow it, you’ll definitely make a lot of money. How could I just sit still when you promised me at least ten times the profit?”

This was unexpected.

Representative George is a representative of conservative tendencies.

If he were to invest in altcoins, there is a possibility that many financial institutions would follow suit.

“Then go ahead and do that.”

“But how should financial institutions that are involved in Bitcoin trading invest?”

“I’m thinking about starting a Bitcoin lending business.”

“When you say rental, do you mean a loan?”

Bitcoin was a cryptocurrency.

Banks made profits by lending money and receiving interest.

There was no law against lending in cryptocurrency. To be exact, it was a business outside the law.

“Who would want to lend out cryptocurrency like cash and collect interest? You can only make a profit of less than 10% at best. And if the price of Bitcoin falls significantly, you will suffer a huge loss.”

“What is the current bank interest rate?”

“It varies from state to state, but is up to 12%.”

“Bitcoin can set its interest rate at will. Even if it receives an interest rate of 60% or more, the financial authorities cannot do anything about it.”

It wasn’t for nothing that loan sharks made a lot of money.

It was possible to create a system where money made money, since you could earn much more interest than the legal interest rate.

“Is that okay?”

“Of course there will be problems. Regulations will come into effect over time. So I will only run the rental business for one year.”

“Is there a reason why it’s only for one year?”

“I heard that Bitcoin will be officially listed on the futures exchange this December. What happens when it is listed on the futures exchange?”

Diamond thought for a moment.

And soon after, I found the answer.

“The powers that be will make large purchases or sales.”

“By that time, the powers that be will be in full control. So it is important to get out before then.”

“What are your plans after you get out?”

“Of course you have to rob the powers. If you rob them of every penny in your pocket, you’ll make a decent profit.”

Bitcoin and altcoins were just a temporary stopgap measure.

If you look at just the market capitalization, it was a very large slab of over 500 trillion.

The scale was too small for all the financial companies to rush in and divide it up.

It was a financial tower that would be satisfactory for a project of at least national scale.

***

I returned to Korea after finishing my business trip to the United States.

While I was away, a vice president took care of Taewoo Group, and quite a few things happened in the meantime.

“Why do you have so many reports? Most things can be handled by one vice president.”

“I have twice as many reports as this one. All the reports I have now require the Chairman’s decision.”

“You’re not doing this because you’re upset, are you?”

Vice Chairman Han also seemed to want to accompany him on his business trip to the United States.

However, since the chairman and vice chairman could not go on a business trip at the same time, he was left behind in Korea.

“Absolutely not. How much work do you have to do in Korea that you would go all the way to the US?”

“Let’s take our time checking the report. Is there anything you absolutely must hear?”

“There is a report on autonomous driving. All related regulations have been abolished, and laws favorable to autonomous driving have been passed.”

Autonomous driving is no longer a field that only Taewoo Group is challenging.

Not only Tesla, but many automobile companies have been introducing their autonomous driving technology strategies at various exhibitions.

But there was a clear difference from the Taewoo Group.

If they had announced plans and vision for autonomous driving, Taewoo Group could have implemented it right away.

“It is certainly true that autonomous driving regulations can be quickly abolished thanks to the well-established remote control of rental cars.”

“This is because the accident rate of remote-controlled rental cars is significantly lower than that of regular cars. For now, autonomous driving is only permitted on roads with little traffic. It is expected that the permitted areas will be expanded sequentially.”

“That’s not a bad start. When can we expect to see autonomous vehicles on the road?”

“We will begin test driving immediately at the end of this month.”

It was impossible to achieve everything at once.

Only after proving stability step by step from the test drive could the prepared plan be realized.

“If the test drive is successful, it could be applied to cargo vehicles and taxis.”

“We are currently working on applying autonomous driving systems to rocket-owned cargo vehicles. We are preparing to operate them as soon as the permit is issued.”

“Is the taxi service going well?”

“Captain Kang’s side has secured over 100 individual taxi licenses. But the problem is the union. The cargo union and taxi union are already showing opposition.”

It was autonomous driving that hadn’t even started yet.

However, since the union is already showing signs of taking issue with it, it is obvious what kind of problems will arise once it starts in earnest.

“We need to offer various carrots to avoid problems. It doesn’t matter if trucks or taxis don’t make any money. It’s just a step to secure data, so let’s try our best to work things out with the union.”

“Let’s move in various directions.”

“Autonomous driving will be fully implemented in the United States as well, so please prepare for that issue as well.”

“I will make sure to convey this well to the automobile affiliates.”

Only by targeting the American market could we succeed.

Especially in the case of trucks, monopolizing only the US market would not only generate huge profits, but would also allow for the acquisition of more diverse data.

“The Trump administration will soon eliminate all regulations related to autonomous driving, so we just need to move in step with it.”

“It is true that the Trump administration is moving more aggressively than the previous administration. It is also pushing forward with the shipping industry and even autonomous driving like a bulldozer.”

It was a direction that was beneficial to us.

The Trump administration is taking care of being the butt of the insults, so all we have to do is run hard on the ground that has been leveled by the bulldozer.

“Is the financial tower running well?”

“It is operated by dividing into three organizations. Large financial institutions invest in oil futures, while relatively small financial institutions invest in Bitcoin and altcoins.”

“It’s not easy to go on adventures when you’re big.”

“Although I am buying slowly, the price of Ethereum, which was $8, is already close to $10.”

Financial companies that are called small and medium-sized in the financial tower.

Although it was small in scale here, it was by no means small in scale when looking at the financial world as a whole.

Compared to hedge funds on Wall Street, the funds they managed were often larger.

That’s why the moment they invested in altcoins at the same time, the price was bound to rise quickly.

“Tell them to buy steadily while controlling the speed well.”

“As professional stock traders, they know how to secure volume at a low price. They create waves and shake off the forces, and secure volume smoothly.”

The most important thing in short selling was securing volume.

The financial companies in the financial tower had extraordinary know-how in securing quantity.

They possessed capital and know-how that was on a different level from that of ants and other powers that eat up money.

“Where does Taewoo Securities invest?”

“I’m investing in all three sectors. I can afford to do oil, bitcoin lending, and altcoin investing at the same time.”

Under the leadership of Vice Chairman Han, the financial tower was running smoothly.

At least this year there were no more complaints coming from the financial tower, so it was time to look after other affiliates.

“Please call a meeting of Taewoo Semiconductor’s executives.”

The first place to take care of was Taewoo Semiconductor.

As we are investing 700 trillion won to build a semiconductor city, it was a time when a new vision and strategy were needed.