比特奇点

What is a smart contract?

1. The term "smart contract" was first proposed by the famous cryptographer Nick Szabo in 1994. It uses programming to accurately and efficiently execute preset contract terms.

2. A detailed explanation is: A smart contract is actually a computer protocol that uses a computer instruction to achieve self-verification, automatic execution, and generate verifiable evidence to prove the validity of the contract operation.

3. When both parties to a smart contract generate an asset transaction on the blockchain, a piece of code will be automatically triggered to automatically complete the specific transaction process. This string of computer code is the smart contract.

4. To put it simply, a smart contract is a contract that is executed on the public chain. The project party and the user write out the contract (agreement) in advance. After completing the coding and deployment of the contract, the contract will be executed on the public chain.

What is the correct posture for tossing in the currency circle?

1. If you want to play altcoin air coins, you should issue coins instead of accepting coins issued by others to help others achieve financial freedom.

2. If you want to play leveraged futures, you should open an exchange and cut leeks on your own exchange instead of going to someone else's exchange. Being cut off by others is a trivial matter. The key is to be called a fool by others.

3. If you want to engage in mining, you should build a mining machine, or build a mining pool, or have a power plant, instead of buying a mining machine or cloud mining. When the market is good, you can earn a little hard-earned money, and when the market is bad, you can earn money by yourself. All risks were assumed.

4. All in all, to mix in the industry, you need to find ways to get other people's coins into your own pocket and strive to achieve financial freedom as soon as possible. If you don’t have these abilities, then maybe you should be like me, hoard coins and wait patiently.

How far are you from financial freedom?

1. The threshold for wealth freedom in first-tier cities is 290 million (please use Baidu). Here, we relax the requirements a little and lower the threshold to 160 million yuan, which is the value of 160 Ethereums in 20 years.

2. The vast majority of people have no possibility of achieving financial freedom in this life, and only a handful of people can achieve financial freedom. Hoarding 150 Ethereum and waiting for 20 years. There is no need to do anything else. It is already the shortest among shortcuts.

3. Crazyly improve your ability to make money outside the circle, earn more legal currency and hoard more currency, which can shorten the time to achieve financial freedom. However, in order to shorten the cycle, the currency volume will increase approximately 3-4 times, which is very difficult for everyone. This is the path I chose, at least it's very stable.

4. I sincerely wish that every one of my readers can finally achieve financial freedom.

Ethereum still has room to grow a thousand times

1. Ethereum still has room for growth by a thousand times. EIP 1559 goes online, the supply gradually decreases, and Ethereum officially enters the era of deflation.

2. Sometimes, I pass by the most prosperous areas in the city, shuttle among the crowds, and watch people coming and going. I would think, what do these people do? How is their family? What are they pursuing all day long? How many of them know about Ethereum? How many people can understand the future of Ethereum?

3. If Ethereum is compared to a child, then this child has not been born yet and is still just a fetus in the belly. Although the growth from a fertilized egg to a fetus has grown tens of millions of times, there is still endless room for growth in the future from fetus to infant to child to adulthood.

What does raising interest rates and reducing balance sheet mean?

1. "Raising interest rates and shrinking the balance sheet" refers to raising loan interest rates and shrinking the money supply in monetary policy.

2. When a country's economy grows rapidly, the central bank will raise interest rates to reduce inflationary pressure. This also prevents speculation from unduly inflating stock and real estate prices. Raising interest rates will also increase borrowing costs and reduce demand for consumption and investment.

3. At the same time, the central bank will further control inflation by reducing the money supply, making the funds in the market insufficient to support excessive investment activities.

4. Raising interest rates and shrinking the balance sheet are usually adopted when the economy is overheating to avoid inflation and financial crises. In general, the purpose of raising interest rates and shrinking the balance sheet is to maintain healthy economic growth by adjusting monetary policy.

Getting off the bus too early is because the vision is too small

The vast majority of early players in Ethereum have already gotten off the bus, and there are still many people who have watched Ethereum skyrocket but have not gotten on the bus. This is good news for us, because if they are all in the car now, can the currency price still be tens of thousands?

The reasons for hesitating to get on the bus and being impatient to get off may be due to many reasons, but the main reason is that the vision in my heart is not big enough.

Vision determines vision, and vision determines action.

When Ethereum was priced at 10 yuan, they said it was too expensive.

When Ethereum was priced at 100 yuan, they said it was too expensive.

When the price of Ethereum was 1,000 yuan, they said it was too expensive.

When the price of Ethereum was 10,000 yuan, they said it was too expensive.

Without a vision in mind, you may be able to survive a bear market, but you will definitely not be able to survive a bull market.

Little-known facts about the currency circle

1. 95% of participants in the currency circle have never read the project’s white paper.

2. 90% of participants in the currency circle cannot explain how blockchain works, and most participants only care about money (and decentralization, I guess).

3. Bitcoin maximalists and Ethereum maximalists alike feel narrow-minded and short-sighted.

I believe mass adoption of blockchain and cryptocurrencies will occur in ways we cannot predict, with network effects exploding out of thin air.

4. Most DeFi (decentralized finance) projects are an unsustainable Ponzi scheme, and those who are best at it just treat it as a money-making game. That's just the way it is.

5. A completely decentralized future is impossible to achieve.

Ethereum and idealism (3)

In the world of investing and finance, idealists don't survive. For example: There is a classic saying in teacher Li Xiaolai’s classic recording:

"I cao, NM talks about value investing all day long, so damn, I'll just give you an example. I scold Chinese medicine every day, and Chinese medicine is SB, but I really bought the stocks of listed Chinese medicine companies. The reason why is very simple. I know the trust of SB, and there are many SBs. Then I know that if I don’t buy it, others will buy it. Why don’t I make money? It’s business. In the end, there is no world more successful than the world of finance. of."

Ethereum and idealism (6)

The more chaotic the circle is, the more it shows that the Ethereum system is highly resistant to impact.

Some people spare no effort to hack Ethereum and suppress Ethereum;

Some people go to great lengths to deceive people, cutting leeks to make the circle a mess;

Some people are trying their best to control Ethereum, but evildoers will have their own way.

However, Ethereum only cares about its own development, rapid development, and accelerated development, and will not be affected at all.

Ethereum and idealism (5)

Those who are able to persist until now may be because they can distinguish the people who are disappointed. Who are the people in the disappointed currency circle? Or are you disappointed with Ethereum itself?

Ethereum is the amplifier of human nature. Scams you can imagine and scams you can’t imagine will all happen here, and they emerge in endlessly. What's even more annoying is that after a scammer has deceived someone once, he can do it a second time. Sometimes I feel helpless just thinking about it.

But no matter what, I still stick to my original ideal. And the longer I hold Ethereum, the more optimistic I become, and I am convinced that Ethereum can succeed. I hope everyone can stick with it too.

Ethereum and idealism (4)

Although the words are rough, how can an idealist succeed in the investment and financial fields?

You see, I am not optimistic about traditional Chinese medicine, and I will never buy TCM stocks; I hate the child abuse incident in a kindergarten, and I will never buy its stocks; I hate the forked currency Aircoin, even if I know that the probability of making money is high, I I will definitely not fry it. Sometimes I wonder, why am I so stupid and stubborn? I don't know either.

If you think that idealists can be very nourishing, you are wrong again. The truth is, many idealists didn’t make it this far. After they stayed for a while, they couldn't see any ideals in other people in the circle. Everything they looked around was greedy and their eyes were full of green light. They were extremely sad and disappointed and chose to quit. What a pity.

Ethereum and idealism (2)

I am almost crazy about hoarding Ethereum. Is this because of ideals or greed? I can't tell the difference anymore.

On the one hand, I still adhere to my ideals. Maybe the experiment will eventually fail, but I have no regrets;

On the other hand, I was so convinced that it would be successful that the more I hoarded, the faster I would gain financial freedom. I couldn’t control my urge to hoard coins at all.

In the end, I had to set a dead rule for myself - no selling coins. Not selling coins means that I cannot earn legal currency, which means that my investment will depend on this experiment.

However, I still can't control my urge to hoard coins. I can only comfort myself in this way. In fact, I am the father of Ethereum, and Ethereum is my child. I need to continue to invest to help it grow.

Ethereum and idealism (1)

The moment I really understood the Ethereum white paper, my feeling cannot be described in words. Full of wonder, excitement and regret. I am amazed at the ingenious design of Ethereum, excited about the great social changes that Ethereum will cause, and regret that I did not read the white paper when I first heard the word.

I am an idealist, and my original intention was actually to participate in this unprecedented social experiment. But it is undeniable that the skyrocketing price of Ethereum was the main motivation that drove me to read the white paper.

Unexpectedly, participating in this social experiment also changed my perception, and my humanity was also severely tested. Human nature is fragile and often cannot withstand the test. There was a time when I doubted myself because I was caught in a huge contradiction.

The difference between hard fork and soft fork

A hard fork means that when the Bitcoin consensus mechanism changes, it is incompatible with the native protocol. Some nodes that have not been upgraded cannot verify the blocks generated by the upgraded nodes. Then everyone continues the chain that they think is correct, so it is divided into two chain.

In addition to hard forks, there is also a kind of fork called soft fork, which refers to the blockchain network system version or protocol that is compatible with the native protocol after the version or protocol is upgraded. The old nodes continue to accept the blocks created by the new nodes, and the new and old nodes We still work on the same chain and no new chain is created.

The biggest difference between a soft fork and a hard fork is whether a new chain is generated. A hard fork generates a new chain, while a soft fork does not generate a new chain.

10X Project for the Next Bull Market (4)

Treasure DAO

1. Treasure DAO successfully maintained a strong community and ecosystem throughout the bear market

2. Although the price of Magic has retraced 95%, the community and ecology are very strong, and they have maintained stable funds of 25 million.

3. Treasure DAO has a vibrant ecosystem, such as high-quality projects such as the upgradeable NFT project Smolverse and the chain game The Beacon.

4. Although TreasureDAO still faces many challenges in becoming the mainstay of GameFi, I think Treasure has the resources, culture, passion and talent to achieve this goal

10X Project for the Next Bull Market (4)

Curve Finance and Convex Finance

1. Curve Finance has always been the monopoly of Stable swaps. It has the community, resources and attention for long-term survival.

2. Although there is healthy competition in protocols such as Balancer, these protocols are not as innovative as Curve and cannot attract so many TVLs.

3. The upcoming CrvUSD will also attract users’ attention and bring more TVL, which will increase the demand for $CRV and $CVX

4. It is difficult to imagine what the DeFi world would be like without Curve. At least this situation will not change in the short term.

10X Project for the Next Bull Market (3)

Frax Finance

1. The Frax team is one of the strongest teams in web3

2. The Frax team has been maintaining an active working attitude, and they have established FraxSwap, Fraxlend, FPI and frxETH in the ecosystem

3. These products will increase the demand for FRAX, thereby supporting the price of FXS

4. Frax is one of the largest holders of CRV and CVX, and uses this to incentivize FraxBP, whose goal is to take over the 3CRV mining pool

5. A major advantage of Frax is that they can incentivize other stablecoins (crvUSD?), pair the Curve pool with Frax, and increase the utility and liquidity of stablecoins.

The next bull market 10x project (2)

Chainlink

The importance of infrastructure is self-evident, not to mention that I have yet to see a project that can compete with Chainlink.

While many view Chainlink as an oracle provider, this ignores the many other products powered by Link.

Products such as oracles, cross-chain messages, and random numbers are all indispensable services for blockchain applications. Therefore, I think it is more appropriate to think of Chainlink as an infrastructure service.

At the same time, the launch of Chainlink 2.0 will provide more empowerment for LINK, while establishing connections and cooperation with some Web2 companies, which will enable Chainlink to better realize the commercialization of Web3.

The next bull market 10x project (1)

ETH

I am bullish on ETH long-term for a few reasons. In the sluggish bear market, the issuance rate of ETH has reached -0.009% since the merger, while the issuance rate of ETH before the merger was 3.5%. By comparison, Bitcoin’s issuance rate is 1.716%.

A significant reduction in the issuance rate means that ETH can deflate with use.

In addition, due to the launch of L2 and Zk networks such as Optimism and Arbitrum, Ethereum has become one of the main competitors for other blockchains to build consensus layers.

Ethereum also has the strongest network effects of any blockchain, and its developer community dwarfs other L1s. Taking all of this into account, I believe Ethereum is still the king compared to other layer 1 networks.

How is the fork implemented?

To understand the fork, we can break Bitcoin into two big chunks: the Bitcoin protocol (software) and the blockchain, which stores all transaction data.

The Bitcoin protocol (software) is completely open source. If you want to create your own branch blockchain (fork), you must first copy the Bitcoin protocol (software code), and then make appropriate modifications according to your needs.

Finally, Bitcoin forks can be made effective by specifying a block number. For example, it can be announced that the fork will take effect when the block number reaches 500000. When the block number is transmitted to the community, it will be divided into two parts, and some people decide to support the original protocol, and some people support forking the protocol, and then each group starts adding new blocks to the one blockchain they want to support.