Li Lin talks about “industry anxiety”: How do we face uncertainty?

From September 19th to 21st, the Fire Coin Group held the "Fire with the Peers and Asked Wudang" activities in Wudang Mountain.

On the afternoon of September 21st, the "Fire Coin Industry Fire Contest: The Industry's Deep Way", Li Lin, Chairman and CEO of the Fire Coin Group, delivered a keynote speech "Wudang asked."


Li Lin, Chairman and CEO of the Fire Coin Group

In his speech, Li Lin used three sentences to describe his thoughts on the blockchain industry. First , "the avenue is invisible, fertility world; the road is ruthless, running the sun and the moon; the avenue is unknown, and all the things are raised" , hoping to discover the law of the development of the blockchain industry; Second, "profit and not harm, not to fight." To say that to create new value is actually a kind of "profit and not harm". "Being not fighting" is to do your own thing, and the market share will naturally come up. Third, "for the loss of the road, damage and damage, and even inaction" , everyone must constantly think, enhance their own cognition of change, and constantly break the previous cognition, can there be new The cognition is either more comprehensive, more correct, and more in line with the perception of the avenue.

In his speech, Li Lin also summarized the rules of the bull and bear in the history of the blockchain industry and even predicted when the next big bull market was. He said that it was very simple, or that the new concept was recognized, and that it did have great expectations and was willing to vote. Money comes over; or the current use creates value.

In 2013, Bitcoin's expectation was to be a global currency, so there were dozens of gains, but it was later expected to burst into a bear market. In 2017, the blockchain distributed ledger technology solved the pain points of many industries such as finance, especially the big bull market caused by the expectation that the credit intermediary would not reduce the transaction cost. Later, it was expected to burst into the bear market again.

Li Lin believes that bitcoin is not a speculative product, and its value in reality is more like gold. Li Lin uses data to prove the actual value of Bitcoin. At present, there are 18 million bitcoins in the world, but about 4,500,000 pieces have not been dug up in the early years. In the remaining 10 million bitcoins, the bitcoin held by the world's major exchanges is not more than 3 million optimistic, and the pessimistic estimate is about 2 million, and there are more than 10 million. Li Lin asked, if Bitcoin is just a speculative product, this data is not valid.

The following is the full text of Li Lin’s speech:

Good friends from all of you, my colleagues, good afternoon!

Just now, the host also gave me a long speech topic. After climbing the mountain these two days, my theme changed. I changed the theme of a high-powered theme, "Wudang asked," and also asked us as a question. Dao Wudang" throws bricks into the agenda of the entire meeting.

Why did you take this name? Not only because we climbed Wudang Mountain for a day and a half, but also because we suddenly enjoyed the scent of Wudang, and then the Emmanuel. Last night, everyone remembered that we had a link to communicate with our friends. I sneaked out and met a secretary of the Chinese Taoist Association. I was very inspired. I may have suddenly opened up what I have accumulated for many years. I have never thought about doing this topic today. I talked with him for several hours yesterday and listened to several of his enlightenment with us for several hours.

So we changed the title to "Wudang asked." Before entering this topic, I must first say a paragraph, or it will be too sudden. Yesterday evening, it was said that it was actually going to listen to it. When we came back, we thought about a problem. We asked, what is the "Tao"? Everyone understands differently. Why is it asking, not asking something else? What is the "dao"? Before I used to practice a hard work in the morning, there was a particularly profound sentence, that is, "the avenue is invisible, the world is born; the road is ruthless, running the sun and the moon; the avenue is unknown, and all things are raised."

Why did you take this out? Tao, my personal understanding is the law of the operation of the universe. Everything has a regularity. Not only are we not aware of it, we know it. People, the world we are in, the business activities we do, etc. It has the rules of its inner operation. I don't know how to describe this thing.

In fact, we think that it is still a small law, just a personal understanding, so these words look very bullish, I feel that the Tao has all things, the law of the world.

So what are we looking for this time?

What we are looking for is the hope that we can discover the laws of the development of our industry. In 2009, Satoshi Nakamoto proposed the official launch of Bitcoin, and it has been more than 10 years now. This industry seems to be disorderly in the past 10 years. Change, the hot spots of each period are different, what is the difference under the same? What is the law that is the same? Therefore, we must explore this law. Only when you discover the law, can you manage it and make our business and life more smooth.

I know that many of my friends here, including our colleagues, are very successful. This kind of success is multi-level. It is possible that everyone has made a lot of money. This is a kind of success. Maybe we have a company now, this company is doing Very good, the market share is quite high, and the market is quite recognized. Why do we want to mention this one? Because only after we have mastered the law, we can understand the truth, because most people's success is intimate. I did a successful job, but I don't really know how it was made. A lot of success is like this.

I remember that there is a very classic word in the currency circle. "The money earned by luck is lost by trying to lose it." I would like to explain it in a general way. It is called a secret, because the potential energy of Bitcoin comes, the potential of the blockchain comes, and the potential of the sharing economy comes. We seized the point, and it may be that you caught it. It may be that you have run into it. You have made money, and you have succeeded. You think that you are very good. The so-called arrogance is just good luck, it is coincidence. What can't you say that it is good luck? If you can be predictive, you can discover the law, and if you find the law, you can foresee it.

For example, what is the blockchain after 3-5 years? What do you like in the layout of the layout, what I did, or what other better industry will produce in the future? I can foresee, I did, that is, the combination, that is to say not by luck, because we have discovered its laws after thinking.

What is it? There are a few words in the Tao Te Ching that have a profound impact on me. I will combine the industry later. There is a saying in our mountaineering that is "too virtual", so the first few words are very imaginary, and will be elaborated in detail later in conjunction with the understanding of the industry and company management.

There is a saying that has a particularly profound impact on me personally. I don’t want to be harmless. I am not controversial. This is very concise. I don’t read much of the Tao Te Ching. The teacher came back and forth to say these words. This sentence is three times five. What do you mean by all over? Some people say that they have to read it twice, and I will share my personal understanding with you.

Few people are like me, speaking morality when they are not very old, but I just share my personal understanding. Although I have lived for 36 years, I have some experience of myself. "Prosperity does not harm, but does not fight." God has the law of his operation, what kind of things are in line with the avenue? If one thing is good for society and for this thing, how do we do "I have something to do", of course not reluctant.

In fact, many of the ideas that guide the operation of the fire currency, "profit and not harm", we always say that to create new value, in fact, is a kind of "profit and not harm", reflected in the company culture.

"Do not fight for" is to do your own thing, my market share will naturally come up, it is not to say that every day by blowing bragging out, forced to pull out the seedlings to encourage. This sentence is very impressive to me. It has guided me a lot of thinking about the industry and thinking about the company's management, so I will briefly mention it to you.

In fact, this problem was discovered in 2014. We believe that Bitcoin can become a global currency, but when it is used, it will find that when it is paid less efficiently and at a higher cost than the current method, this expectation will be lost. Then there is no new value found, which is a very important reason, except for a big situation in 2013.

This is the first stage. At that time, there was no blockchain. The concept of the blockchain came out later. It was originally in 2012. Later, Dr. Xiao Feng was brought to Shanghai, China in 2015, and it is also very popular in China.

The blockchain was expected to be very high at the time. Like the discovery of the New World, the technology of using this new distributed ledger not only solves the financial problem, but also solves the pain points of many industries, especially the credit intermediary to reduce transaction costs.

After seeing it for two years, everyone still expects to fail. So the wave in 2017 is also based on the expectation, the concept of technology, it is possible to logically analyze, it seems that it is possible to do such a thing, this expectation basically caused a big bull market in 2017.

So many people ask, when is the next big bull market in our industry, it is very simple, or the new concept is recognized, it feels that it really has great expectations, is willing to invest money; or the current use creates value.

Give everyone a piece of data, the data can prove this. In fact, there are 18 million bitcoins in the world. There may be many people who have counted it. There are millions of pieces that have not been moved for a long time. There are about 4,500,000 pieces, which is in the early years. I didn’t move it when I dug it out. Among the more than 10 million bitcoins, the world's major exchanges hold no more than 3 million bitcoins. This is a relatively optimistic estimate. If you pessimistically estimate about 2 million, then the other 10 million will go. What?

If it is just a speculative product, this data is not valid. Give everyone such a data. This is the basic price of Bitcoin. Because the industry has been changing, the hot spots are different every day. No matter how hot you are, it is two. Question, you either talk about a so-called story, everyone believes in its future and is willing to invest in it. Either you create value, like bitcoin, someone is actually using it. If you say which product is worth investing, only this. Other things, zero-sum games, are tossing back and forth.

So let's go back. I personally analyze that the blockchain industry in the future has come to this day. I personally give some thoughts. What are the points and space in the future?

"For the loss of the road, the damage is damaged, so that it is inaction", this sentence I have no way to understand what it means. This morning, I briefly communicated with the Taoist, and I mentioned my thoughts. I often come to take this sentence to be self-motivated. Everyone has a lot of cognition. Each of us thinks that our cognition is correct. We all think that we know the world and this universe. We have found the so-called The law or the judgment of value, it is truth, is correct, does not conform to our view, we think it is wrong, unwilling to accept, this is the ego.

The so-called "day loss", when one day we gradually let go of our own cognition, more open and more tolerant, we are willing to accept something different from us, we can slowly see more real things, so " For the road damage, it is to give up the little one.

One day a teacher said a word to me, is it "inaction", we will not do it now, it is easy to understand. Of course, it has several explanations. The first explanation is that the individual is the one who can do it. We often do things based on self-biased prejudice and cognition. When can we do it, the real thing can be very rational, and let go of our own personal obsession, the kind of "being" is the road of avenue Then everyone will go down.

In these years, the trend-setting practices have all come up. For example, when you are in a bear market, you must do more. When you are in a bull market, you are going to go short. When the industry is going to change, you will change careers. You have not found the general trend. That is to say, this is a small person. Your cognition is biased. Maybe because you have been hurt some time, you think this is judgment.

This sentence has a profound impact on my personal cultivation. I would like to share with you some of these sentences. Of course, there are still many. Because there is not much time, I can only throw bricks and jade, why do I bring this thing inexplicably? I hope that we will come to Wudang. Our discussion is different from that of a five-star hotel. I hope that everyone can raise such a field and think about it from the philosophical level to conduct a more in-depth discussion. Here is the brick throwing.

Then let's talk about the blockchain, what is the rule of the blockchain industry? What social problems have the blockchain solved? What social value has been created? This is the core issue. Over the years, in fact, it has never changed.

If it is by the length of the year, I am not long enough. I have been in business for 6 years since 2013. In the beginning, in fact, there is no concept of blockchain. Only bitcoin. At that time, bitcoin was doing very well. I was lucky. I came across a bull market. What is the logic of the bull market?

The logic of the bull market, one is because everyone saw the expectation that Bitcoin can solve a social problem. At that time, everyone was discussing. We all experienced the older generation. Everyone actually discussed a lot of questions. Will Bitcoin replace it? Dollar? Will Bitcoin become a global currency? A lot of companies are paying, this is what happened in 2013 and 2014.

In an interview in 2014, I said that Bitcoin will not become a global currency, it is more like gold, this interview in May 2014 is now available.

What does it mean? At that time, because there were many small countries whose national currency depreciated very quickly, after this incident came out, the society had a very strong expectation for Bitcoin. Can new technologies create a better currency? So everyone's expectations are very high. In 2013, it was a dozen times increase. This increase actually represents an expectation. Bitcoin can solve a social problem and have such a new thing to do global currency. Although it has just sprouted, this expectation is too high until the end of 2013.

Why did you enter the bear market again? In fact, the reason and the law are very simple, that is, the expectation is shattered.

When I was in April 2015, when the industry was a bear, the bear could no longer bear, and I was very happy to go to the United States and go to Bitpay. They reflected a very cruel data, which is the reuse rate of bitcoin payments. Very low, most users will not use it for the second time. Less than 10% of all merchants that support Bitcoin payments are willing to keep Bitcoin, and most of them are converted into French currency. In this scenario, Bitcoin is just a financial instrument. Unlike a currency, it has slowly transformed. .

The same is true for business, and what social value is created. This is also a question for us to think about. For example, if I am a company of fire coins, why should it exist? What is the value of its existence? Why are some companies dead and some companies alive? Some companies are alive, but they are dead. This is a regular problem.

The existence of a thing brings value, because your presence is more efficient in the industry, and this is your value. If you are not efficient in the industry, you are definitely valuable. This is the reason for your continued existence. If I am doing things earlier, in fact, my operational efficiency is the lowest, and you will be eliminated sooner or later. .

I often give our team a word, no matter what mode you use, can provide better scenarios and services to the market and users. This is your lowest level, no matter how you say it. What do you send today, and get a new model tomorrow, if users can't get better products and services, they are always inanimate, and may be a way of marketing in the process.

If my company is very competitive, competitive, and finally falls into this place, this is the characteristic of a free market. We do not discuss monopoly or planned markets. The free market is this logic. What value did you create? This is our very core point.

Most of us here are executives of companies or companies. I have to ask this question. Because our existence makes the experience of the whole industry or users better, promotes the progress and competition of the industry, and the continuous development of the whole industry proves that I am valuable. If our company operates very inefficiently, because our existence also hinders the development of the industry, one day it will be eliminated.

On the last page, everyone is different. Why should I mention this again, because this place must be distinguished from a five-star hotel. From the perspective of the industry, the way of business management and the final way of self-cultivation, we should in fact reverse the fact that according to the "University", it should be "cultivating the family and ruling the country" and putting the self-cultivation at the end.

Everyone knows that this industry is more anxious. Anxiety is because of fear. It is a fear of uncertainty. Because this industry is too complicated, too uncertain, I don’t know what will happen tomorrow, I can’t control it in the future, I am very afraid, so I Anxiety is essentially "little."

First, is it uncertainty?

Second, how do we deal with uncertainty?

The operation of this matter is the uncertainty under certainty, the law is certain, but the performance is uncertain. It exists objectively. There is a lot of uncertainty in each of us. Are you confronting him or embracing it directly? Accept it? This is a core issue. I have spent a lot of time thinking about it. Of course, I don't think I understand it now. I just share my current income here.

If one day you go to accept all the uncertainties, you accept whether you are personal, the company, your industry, the country, etc. its imperfect side, or the previously unacceptable side, we I found that you will be very open-minded and I am very happy every day. Diet, sleep, exercise, "3+1", plus mood.

Therefore, I suggest that we all come to this place in Wudang Mountain. We will think about this question well. Our state will be very good. Our current state of mind and body is not very good. If it is not in such a dojo, will it be there? The income, the income of each person is different, this is a very shallow embodiment, I believe that there will be different experiences in five years.

I have talked so much, and I conclude by summing up that everyone is constantly thinking and raising their own perceptions of change. A lot of time is to constantly break the previous cognition, can have new cognition or more comprehensive, more correct, more in line with the understanding of the avenue.

The important thing is not that I shared these points today. What is important is that I have been thinking about it. I have been raising my awareness. I have been thinking about an industry problem from a lower level and a more philosophical level. The problems of company operations and personal and physical problems. This is what I think is fundamental. I also hope that with the help of today's Wudang venue, we can guide everyone to the direction of thinking about the problem, rather than solving the problem on the surface.

If you are not interested in the above, at least I think the last point is still valuable. I hope that all of us will not be in the wrong place. Thank you.

Article source: Golden Finance

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