Interesting blockchain experiment: Why is the gold coin depreciated 6.6 times?

The blockchain boom that has been set up in the past two years has made this word mysterious.

In fact, there are already many experimenters in the mainstream concepts and gameplay of blockchain. For example, the fascinating headline of the essence of the direct sales model has been adopted, and the fission promotion has been used to the extreme.

There is also the "Orange Light Game" that was established in 2012, which has brought the community to a new level.

In these models, the “coin” is no longer mysterious, and there is no over-packaging of the blockchain outerwear. What everyone sees is the true value of the currency.

The "gold coin" of the interesting headline once depreciated 6.6 times; while the "flowers" of orange light have been anchored to the renminbi.

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The forerunners of these true blockchain thinking have not yet made a clear statement.

Blockchain thinking is really far from the ground, I am afraid there is still a long distance…

01 fun headline counterattack

What are the popular blockchain games at the moment?

The most common now is nothing more than fission promotion, currency differentiation, and community autonomy.

An interesting example is the Froin, the hottest black horse exchange last year.

The “transaction is mining” mode once stirred the currency circle.

The most fascinating part of this model is to make the user a profitable one.

In the Internet age, the most core asset is the "user."

For example, what makes Baidu generate value is to search for users; what makes Alipay generate value is to pay users.

However, these users contributed their own data and traffic, bringing huge benefits to the platform, but did not enjoy these benefits.

The logic of FCoin at the time was to make users become beneficiaries and share their profits.

Let's take a look at the blockchain project Steemit, which was very hot in the last two years.

This is a social media platform. All people can post on it, and the more reading and praise you get, the more tokens you can get: Steem.

The charm of this model is also to allow content producers to directly obtain the profits from traffic.

In the end, these blockchain models, which used to be smash hit, changed the original production relationship: the user became a benefit sharer.

In fact, these business models that attempt to change the relationship of production have long appeared in many areas – only they never wear the outer layer of the blockchain.

The most famous try is the funny headline.

"On the new, retained, and promoted, the entire chain is more than an interesting headline." Blockchain practitioners pointed out.

In 2016, the content information platform was born.

At that time, the headline that started with the recommendation algorithm has already completed a small-scale victory for the traditional portal news client. No one thought that this battlefield would kill a dark horse.

How is the fun headline played?

In the fun headline platform, users invite friends to register to get a cash red envelope.

At the same time, the user can sign in the daily gold medal, complete the designated reading time, create high-quality comments, and even participate in the daily opening of the treasure box activities.

10,000 gold coins can be exchanged for 1 yuan, and can be withdrawn at 1 yuan.

This gold coin system is a typical “currency dividend” model. These reading users bring advertising value and thus get a certain advertising revenue.

In addition, the friends invited by the user will automatically become their "apprentices" through the "apprentice system".

The "apprentice" gets the gold coins on the platform, and the "master" can also get a part of the cash back. This also allows the "Master" to patiently guide the "apprentice" to register, use and promote fun headlines.

This apprenticeship system also uses the essence of the direct sales model to the extreme.

“Whether it’s the trading of the currency circle, it’s mining,” or the “flip change” of the interesting headline, the essence of the enterprise is to benefit the user, to achieve the benefit of the user, and to complete the customer with the help of the user. Liu Jing, product manager of the bank's financial technology department, said to a blockchain.

Therefore, the industry has always believed that the fun headline is the first project to truly apply blockchain thinking to the extreme.

After the success of this mode of funny headlines, many fields began to imitate.

For example, there are a lot of reading platforms, which will give users cents according to the length of reading; even the input method will also be based on the user's frequency of use and duration.

02 earlier tryers

In addition to the most famous fun headlines, there is actually an earlier experimenter, the interactive reading community "Orange Light Game".

The Orange Light game was founded in 2012. At the end of 2017, this game platform was launched with an investment system.

How does this system work?

On the orange platform, there is a coin-like product called "flowers."

Some authors in the orange light will write novels, and then according to the content of the novel, insert pictures, backgrounds, and even give the protagonist a voice, it becomes a situational game.

Similar to "Love and Producer" which was very hot some time ago.

On this platform, there is also a special group, which is a large number of experienced readers who read the book. If they feel that this work is very good, they can also become “investors” by rewarding flowers.

The more flowers you get, the higher the level of the work, and the higher the recommended level and exposure.

The works will only provide the first few chapters for free, and the readers will have to pay for the "flowers". In the end, all the flowers, platforms, authors and investors that the work gets can be divided.

This is a very interesting business model.

There are three roles on this platform:

One is the author who writes and makes a novel; one is an investment darling; the other is an ordinary reader.

The author produces the work; the investor screens the work to help the platform identify the pros and cons; and the reader generates profits.

"This is similar to the logic of the currency circle," said block-time practitioner Zhang Jiming.

He said that if the orange platform is analogized to Ethereum, this is equivalent to an ERC20 Token for every orange game.

“Players can purchase Token to become a shareholder of the work, enjoy the proceeds, or quit at any time, replace Token with ETH and invest in the next work.”

“In addition, Orange Light has made a strong bond between the author and the investor through the form of investment dividends, allowing the author to replace the professional editors to promote the user’s sense of belonging and community activity, and to solve the troubled industry. The long-standing 'e-supervisor' (author breaks more) problems." Zhang Jiming pointed out.

At present, the gameplay of the orange light game is really the essence of the blockchain: the user is bound by the incentive mechanism, the user's ecology is formed into the self-operating community, and the product is promoted and spread by the community user.

In May last year, Orange Light announced that it had received 100 million yuan in financing.

According to the data released by Orange, as of the first quarter of 2018, the number of users of Orange Light Platform has exceeded 48 million, and the monthly active users exceeded 3.5 million.

Therefore, the "epoch-making" gameplay of these blockchains is no longer new, nor mysterious. There have been many successful attempts in many fields.

03 long road ahead

In the first two years, the entire blockchain market was extremely unsettled.

As long as you put on the "blockchain" coat, all digital currencies will usher in a round of skyrocketing.

However, if all business models fail to land, it is a castle in the air.

In economics, we call it "idle."

Any idling project is, in the final analysis, a Ponzi scheme, a tool for harvesting retail investors.

Since the beginning of this year, the entire market has begun to calm down, and the industry has begun to demystify the concept of “blockchain”.

“The blockchain is not mysterious at all. I think it is a concept of over-packaging. Many projects just take the essence of direct sales or pyramid schemes and then put the label on the blockchain.” A senior practitioner of blockchain Li Gehua said that everyone around him has calmed down a lot.

After tearing off the outer layer of the blockchain, everyone is paying attention to whether the business model behind it can land and whether the currency behind it is valuable.

Let’s take a look at the two models that have gained the essence of the blockchain, and how are they going now?

After the listing last year, the stock market is not satisfactory.

The issue price of 7 US dollars has now fallen to 3.7 dollars, directly squatting.

 

Why is the pattern of interesting headlines not working late?

This is because many of the early users came to the gold coin “薅毛”.

The existence of a large number of wool users means that the platform's advertising conversion rate is not high.

Advertisers can't see the effect, it will reduce the investment of advertising, which will lead to the continuous depreciation of gold coins.

Nowadays, the exchange rate of interesting head gold coins has been changed from 1,500 yuan to 1 yuan, and 10,000 yuan has been exchanged for 1 yuan. In half a year, it has depreciated 6.6 times.

The depreciation of gold coins will also lead to a decrease in the enthusiasm of the wool party, which will lead to a vicious circle.

Let's take a look at the orange light.

At present, the design of orange light is that flowers can only be consumed or invested by users and cannot be realized.

As a result, many Orange users see the investment system as a tool to support authors and even “small gambling,” rather than professional investment.

The active authors and users of the Orange Light Platform have shown a trend of becoming younger and more feminine, and many users have limited investment capabilities.

"Ten gambling and nine loses." There are orange light players to evaluate their investment system.

In this way, the orange light attempt is more like a gameplay, which is difficult for users to make profit.

All in all, the price of the so-called "coin" is directly linked to its value.

"In the field of blockchain, it is ridiculous to speculate on a currency that has not yet landed and has a promising future, and it is ridiculous to expect them to skyrocket 10 times and 100 times." Li Gehua said.

Let's take a look at FCoin. The transaction, mining, brought a huge amount of users and transactions to FCoin in the early days.

At the peak, FCoin's platform currency FT gained 128 times, but now, the price of the currency has plummeted.

After a round of carnival, when any project faces the reality of landing, it will be returned to its original shape, and the price of the currency will be attributed to the true value.

Li Gehua believes that any project should tear off the outer layer of the blockchain and look at the kernel and the actual business model. In fact, the so-called blockchain thinking is just to apply the essence of direct sales to the extreme, and to distribute more benefits to users.

The only way this model can work is that the ecology is getting bigger and bigger, and the interests of users are getting more and more.

Can do it, it is a positive cycle, can not be done, is a vicious circle.

It's that simple, no mystery.

The blockchain myth has broken.

* Some of the respondents in the text are pseudonyms.

Text: Ratchet

Source: a blockchain

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