In March and after, the performance of bitcoin, I think it was even "manipulated" . This "manipulation" was brought into the ditch by various wrong financial understandings. This is not a problem for Satoshi Nakamoto, but like many cottages. Like the air coin, a beautiful wish was used for speculation . I understand that Buffett is right, because the old man's understanding of finance is very deep. In fact, bitcoin's performance since 2017 now looks very similar to Aircoin's "control", but bitcoin's story is the biggest . Then this year's financial changes like the perfect storm, I look forward to the new "Bitcoin".
The second feeling is the understanding of the token economy . In fact, this issue has been discussed by Dr. Long and I for the past two years. I still remember that after meeting at the Wuzhen Conference in 18 years, he showed me his manuscript about stablecoins and token economy. Predecessor. Later, I published 3 white papers of "Token Economic Models and Practices" in a year and a half. The first white paper came out. I asked Dr. Long for the first time. He also invited me to consult with seniors in Hong Kong and the financial industry. It wasn't until the third edition not long ago that I realized the problem of the token economy itself. Because I have been doing blockchain applications on the front line, I really realized that the practice of the token economy has almost no successful cases . This I mentioned in the interpretation of the white paper. In fact, the deep reason inside was not realized until I finished Dr. Long ’s new book. . In fact, this book is not only about the principle of digital currency, but also has great significance for the practice of blockchain .
I think for the application of blockchain , an important thing is the attitude towards DeFi. My attitude is that decentralized finance does not do this . Even if DeFi is used as a shadow financial service, it may not fully reach the scale of borrowing in a wealthy village in China. Because we may need a completely different digital currency infrastructure to solve the problem. It is not that the demand for decentralized finance itself does not exist, but that the current models and technologies are very immature. We also saw DeFi's poor performance after Bitcoin's halving of the market turned into a bubble.
The third feeling is that if humanity needs digital currency in the digital age, what should it look like. I think we cannot ignore the participation of governments and organizations of various countries. This will be the mainstream in the next 10 years, because we start to practice digital currency on the desktop, and digital currency will bid farewell to the era of cryptopunk toys . In fact, the Internet developed like this after the 1990s. This is very beneficial to the healthy development of the industry. This feeling is my feeling after reading Dr. Long's book. Many explorations in this area have come to a lot of conclusions. The Internet is also, after agitation in adolescence, we have reached maturity.
I think Dr. Long ’s new book is worth reading several times for practitioners. In just two months, my reading experience has received clear feedback in reality. It can be said that this book is very suitable. However, for the future, the reason I want to read it a few times is because it is difficult for many people in the early days of the Internet to understand its media attributes, whether it is traditional media practitioners or IT practitioners. The same is true now, we have to understand the new financial attributes of digital currency or blockchain. IT practitioners are always ignorant and fearless. We are fortunate enough to read Dr. Long's book, which is very helpful for guiding my next work.
New book recommendation:
The new book "Digital Currency: Inheritance and Innovation from Slate Economy to Digital Economy" by Dr. Long Baitao, Executive Deputy Director of the Academic and Technical Committee of the Digital Asset Research Institute, is the first domestic academic monograph to establish a theoretical framework of digital currency finance . Zhu Jiaming, Director of the Academic and Technical Committee of the Digital Asset Research Institute (click on the preamble), Yi Xiqun, former chairman of the Beijing Holding Group (click on the preamble), and Wang Wei, chairman of the China Financial Museum (click on the preamble), jointly recommended. The electronic version of the new book has been fully launched on major domestic e-book platforms (such as the Chinese version of Kindle, palm reading, etc.). The WeChat public account of the " Digital Economic Commune " provides online sales of paper books, and is now fully shipped. Please read it.