Nakamoto's curse: There is no mainstream currency, only bitcoin and the altcoin that will disappear in the end?

Once upon a time there was a nouveau riche, and he was shocked by the occasional participation in a famous painting auction. "It's crazy! A picture of Qi Baishi can shoot hundreds of millions of yuan?" He thought, "Now the technology is so developed. If high-tech is used to produce similar paintings, isn't this a huge business opportunity?"

So he immediately started his plan:

Step1, first complete 1:1 complete copy of all Qi Baishi paintings, and then let artificial intelligence learn painting techniques and produce similar style paintings and inlay 999 pure gold edges on the frame;

Step2, heavily hiring a group of experts from the art, financial and scientific circles to come to the platform;

Step3, the market announced that it will issue 1,000 artificial intelligence Qi Baishi paintings, each of which only needs 1 million yuan in the early stage, 40% of public sales, 30% of the foundations, and 30% of the team to unlock for three years;

Step4, and finally declared that his talent is the real Qi Baishi.

Then the question is coming. Will this famous painting project of “real Qi Baishi” with artificial intelligence high technology succeed?

01 strange Nakamoto's curse

When Bitcoin was born, its creator, Nakamoto, gave it a magical spell that seemed to be extremely simple and powerful: the output was halved every four years. The entire cryptocurrency market has been running on this cycle for more than a decade, and no one has yet been able to effectively break this spell.

The mentality of the encryption investor also runs along this cycle and is shrouded in the magic spell. Bitcoin will be halved again in less than a year. Now many people’s mentality in the face of the market has once again become “ except In addition to Bitcoin, all of them are altcoins, and they will all disappear into zero . Therefore, when Bitcoin continues to hit high positions, it is constantly simulating funds in other currencies. This situation is almost the same before and after the last bitcoin halved.

  • "The last thing I regret is that I didn't change my cottage currency for Bitcoin."
  • "When my cottage currency is back, I will buy bitcoin";
  • "Just wait for the cottage to break out, then you can change more bitcoin"…

The above is a true portrayal of many people in the moment. Some of them are newcomers who have not paid or paid for their tuition. In the early days, they only knew that Bitcoin was expensive and the cottage was cheap. Some of them were "old drivers" who had experienced at least one historical period. I know that bitcoin is stable but I want to rely on the cottage to get more opportunities.

Some people ask why the bitcoin suddenly cuts production once in four years, causing the number of excavation in a single block to fluctuate drastically, instead of gradually decreasing the number of excavation in each block, which is more scientific and stable?

The four-year cycle is actually the charm of Nakamoto's curse:

1. Fairness of miner node entry

Because the miners need a certain amount of time to put in the mining equipment, if the output of the early miners is large, and the output obtained by the miners in the later stage, it is difficult to ensure fairness. In the period in which the power is positively correlated with the price, the miners join in at any time. Whether it is the first day in 4 years or the day before the production cut, everyone is relatively fair. After the reduction of production, the miners are free to decide to stay. If the miners withdraw more, the difficulty will be reduced, and the required computing power will also decrease. The input and output ratio of the miners will still be similar.

2. This design stimulates the most fundamental desire of human nature.

With the security and fairness guarantee of the PoW consensus mechanism, the sudden halving every four years has also attracted more miners and investors. The enthusiasm of people has suddenly increased by tens of times before and after halving, and the effect has been halved. The number of times is constantly superimposed, and the desire to join the Bitcoin network army is constantly being stimulated. Some people have proposed a slow linear reduction in production like "warm boiled frogs". In the unconscious, more and more miners and investors may gradually withdraw.

In fact, sometimes too reasonable design is anti-humanity, and what humanity really needs is in the four-year curse of Nakamoto! Every four years can bring dozens of times more passion than the last time, until the Bitcoin network tends to be stable and become the consensus of most people around the world. When it can no longer be challenged, it will not need to be halved. That is to reach its release limit.

02 Why did the first-ever competitors with high voices gradually disappear or even return to zero?

There is a question. I don’t know if you have noticed why many of them have high-profile claims to improve Bitcoin, have added various high-tech technologies, and have 100 times better than BTC’s forked coins and “competitive coins”. Most of them have gradually disappeared and even disappeared. Return to zero?

The "competition" between Bitcoin and the altcoin has a long history. Since 16 years, several long-term stable currencies in the front row have begun to introduce the concept of "mainstream". Some people say that the market value of TOP10 is the mainstream, and some people say that TOP20 or TOP30 is the mainstream.

Some people say that the mainstream is safer and more stable than the average new project, but the growth is better than Bitcoin. In fact, it may not be. I have remembered how many “mainstream” projects in the past few years except Bitcoin fell out of the TOP30 or even disappeared directly on the list?

There is a saying : the bigger the market value, the bigger the plate, the higher the climb, the more pain it falls . Even if many small coins are returned to zero, compared with the collapse of the “mainstream”, the trapped people and the evaporating funds are by no means an order of magnitude. As a result, as more and more people realize this, it reflects the rise of the current bitcoin, while the "mainstream" have begun to collectively silence or even fall.

If you ask what is the most valuable thing in the world, people will answer: diamonds, gold, antiques, future bitcoins… are not right. The most valuable thing in the world is "consensus." The value of all the things people have mentioned above is given by consensus.

The real consensus comes from the long-term expectation that short-term expectations are often called speculation because there is never something in the world that can get the consensus of most people.

E.g:

Just like the recent A-Gong, when the founding team added a lot of halo, the short-term expectations of the short-term people let it airborne in the front row, almost reached the "mainstream" standard, but this short-term "consensus" "Most of them are psychological factors of "boo beat", and the great probability of this kind of action will be a feather. What's next, you can only see the team's creation.

In fact, the reason why most of the competitive coins disappeared in the end is simple: Bitcoin, because the consensus is king . After 10 years of baptism, although many projects have proposed many new things and seemingly better solutions, they are all overshadowed by its strong consensus. Give a simple example:

There is an emperor who has been in the sand for many years but still has a shortage of emperors. One day, a child prodigy appeared. Many aspects of his ability are stronger than the emperor. Then people will directly turn to the prodigy who just gave birth to a few years old. king? Thousands of years of history tell us that even the elders of many emperors who fought together under the squadrons are still unable to escape the fate of being killed by the emperors.

At present, only bitcoin is just the time that has been proved by time. The Ethereum, which is closest to the bitcoin ranking, is still shrouded in the shadow of 2.0 dystocia. Rippo still carries the accusation of the centralized cauldron, not to mention Say those projects that are still experimenting and waiting for the proven phase.

03 does not live up to the "cottage"

The fall of the "cottage" is often not completely attributed to Bitcoin's too strong, and there are still many of their internal factors that make it difficult for funds to touch projects other than Bitcoin. This kind of scam is not necessary to say more. Recently , many people have mentioned many "single-machine currency" and "company currency", which is typical institutional investors and big funds can't touch. Why is this?

A Token, when pre-excavated, pre-excavated pre-excavation, reserved reservations, in fact, most of the quotas are in the hands of the project side and the whales, and the top 10 holdings of the currency hold more than 90% of the Tokens. There are many. The project party has a large number of tokens in hand, and sells Token to the market every once in a while. There are many projects like this, and many people call it the team's own "payroll."

Imagine, which fund will be stupid to pick up this disk?

Simply put, it is the PoS currency holding currency, PoW The currency is small and concentrated, and the flow is passed through the centralization. Very easy to manipulate. Bitcoin is often accused of being controlled by the “banker”, not to mention the “single currency” and “company currency” with very small volume.

Or, we often hear that the Bitcoin network has completed tens of millions of dollars and hundreds of millions of transfers, but this situation will not appear in the "cottage", it is not safe enough, how to expect funds to enter?

04 Postscript The spring of the cottage will never come again?

In the eyes of many elderly people in the industry, many public chains are repeatedly making wheels. Bitcoin can achieve a high-speed payment experience through a chain of lightning-expanded lightning networks; Bitcoin sidechain Liquid can also launch financial instruments and other encryption assets on its platform in addition to faster transfer of funds; Bitcoin side chain RSK begins Run the smart contract, and add a third layer to the second layer.

That is to say, perhaps as some people have said, in the future, only a strong consensus of the bitcoin super-chain will be used as the bottom layer, and other requirements can be satisfied in the second, third and even fourth layers. Then the "cottages" will have no value by then?

"There is no mainstream currency, only bitcoin and altcoin." If anyone dares to jump out of this sentence in 16 and 17 years, he will be drowned by the spit. But the reality is cruel. Just as many people are looking forward to the arrival of the spring of the cottage, the Nakamoto Satoshi once again hugged the necks of the cottages, and the big Vs began to bounce again. "The spring of the cottage is never again. The tune that will come.

Then, the spring of the cottage will never come again? In fact, it may not be necessary that Nakamoto's curse will be broken one day, and the next part will be explained.

No. 301: If there is more to add to the idea that "all but the bitcoin is altcoin, and all will return to zero", or to oppose this view, welcome to the end of the article.

——End——

Original: Mu Mu

Source: vernacular blockchain

『Declaration : This article is the author's independent point of view, does not represent the vernacular blockchain position, and does not constitute any investment advice or advice. You are not allowed to reprint this article by any third party without the authorization of the "Baihua Blockchain" sourced from this article.