X-Order year-end selection 丨 What did we observe in 2019?

At the end of 2018, someone teased a sentence: "2019 may be the worst year in the past ten years, but it is the best year in the next ten years." At the end of 2019, we again Looking at this sentence, it seems difficult to verify this sentence. But for the currency circle, 2019 will be a year of turbulence and turbulence, but also a year of ups and downs. IEO, platform currency, staking, model currency, Defi … New concepts have generated a lot of heat in the circle, but these are still carnivals in the currency circle. Libra really pushed the concept of blockchain to the world. As a result, sovereign states quickly began to encourage the development of blockchains, while competing to announce the digital currency strategies of various countries. The blockchain industry was suddenly pushed to the world stage, which caught everyone off guard. As a research organization, while responding to changes, we also hope to use our research to output some ideas and discover the truth of the industry. The following 10 articles are selected internally, and we feel that the essence of some things is restored. It's worth sharing again ~

Ponzi Research Series

Analysis of the principle of NO.1 model currency and prevention guide

Author: Wang Runyu click on above the title, read the original text

• Bloomberg: Bitcoin rises 90,000 times in ten years, no other asset can match it
• Five key words of 2019 spread all over China's Internet, blockchain ranks second
• Gavin Wood: Polkadot's 2019 Annual Review (full text)

This is the first in our Ponzi research series. We break away from the traditional definition of MLM and proceed from history to interpret the two most common strategies in MLM-take over and Ponzi. Let everyone have a more thorough understanding of the "model currency", so as not to be fooled.

NO.2 takes you to deduce the development and life cycle of Ponzi scheme

Author: Alan Click above the title, read the original text

We try to abstractly model the "Ponzi scheme" in reality, and deduce its development and life cycle. In the process, we discovered some common-sense laws about Ponzi schemes, such as the ceiling of Ponzi schemes, and when the project ran.

NO.3   New cycle? Four possibilities for Bitcoin's future

Author: Wang Runyu click on above the title, read the original text

As the world's hegemon, the US dollar's hegemony is the key to affecting the global macro economy. It can be said that changes in global macroeconomics are largely based on changes in the US dollar. Bitcoin is mainly priced in US dollars, and of course it is also deeply affected by the US dollar economy. Based on this, we start from the key factors of the US macro economy and predict the future global macro economy, in order to derive the investment preferences of on-site and off-site funds, and see where Bitcoin will go in the future.

NO.4 Market, Economy and Cycle (Up & Down)

Market, economy and cycle (on) ↑

Market, economy and cycle (below) ↓

Author: Feng click on above the title, read the original text

In these two articles, we start with the most basic market interaction, "exchange," to disassemble the essence of a free market economy. We started with the division of labor and the birth of currency, extended to the key role that banks play in the capital cycle, and explained the ways in which economic schools respond to economic problems. Finally, we will combine the debt crisis of Radario to understand the cyclical nature of the economy. These two articles may not be complicated to read, but it is worth thinking about them.

NO.5 thousand years of history of risk aversion

Author: Robin Click above the title, read the original text

At the end of the year, the debate over whether Bitcoin could be considered a safe-haven asset attracted the attention of most insiders. Because if it can be regarded as a safe-haven asset, then Bitcoin may usher in another wave. Is it really like gold, and can it become a widely accepted safe-haven asset? Let's start with the birth of finance, observe the various stages of history, analyze the sources of risk and the hedging tools in the environment at that time, and then see if Bitcoin can be regarded as a hedging asset. You may already know the conclusion, but the end of the year is suitable for reviewing the course of history. Macro perspective

NO.6   Ten years of blockchain, from crypto community to big country game

Author: Tony Tao Click above the title, read the original text

In 2009, the first block of Bitcoin was mined, and the history of the blockchain officially began. In 2019, the United States, China, Germany and other influential governments in the world will promote the blockchain. The changes in this decade are so great, the opportunities they bring are also huge, and may even lead to the rise of a sovereign currency. What has happened to our industry in this decade? This article can give you the answer.

NO.7 Ponzi financing, negative interest rates and Bitcoin

Author: Alan Click above the title, read the original text

As Wework's valuation collapsed, in the context of the global economy shrouded in recession, traditional investment in the market seemed to have some kind of intersection with the blockchain investment market-the "Ponzi" intersection, all need to start to find someone to take the offer Already. Although the blockchain investment started late, it also quickly moved towards the inflection point of the "acquisition" era just like traditional equity investment. High valuation, difficult profit, and lack of cash flow have become a common dilemma for both.   In this context, a rational view of Ponzi can help us further discover the nature of economic operation, which is why X-Order continues to focus on this topic. I hope this article can give readers some inspiration. When we are talking about investing, we know what logic we invest in.

Some thoughts

NO.8 open finance, let Defi out of the niche

Author: Nathan Click above the title, read the original text

How does blockchain achieve large-scale applications? This problem is already the most urgent problem for the booming industry. Many hot spots have arisen around this issue, such as the "public chain" in 2017 and the "DApp" in 2018. Each time the hot spots were raised, it seemed that we saw the hope of the industry moving forward, but the results were always unsatisfactory. Decentralized finance (DeFi), which has high hopes for 2019, describes a moving and promising future, but it is still difficult to move from the niche community to the mass market. We look forward to reviewing the history from free software to open source software, combining the current development difficulties of Defi and finance, and giving a bright light.

NO.9    Cat Claw Cup + Token = Will the world become more orderly?

Author: Frank Click above the title, read the original text

In March, the Starbucks Cat Claw Cup was on fire. So we came up with a big-brained idea: Can we use a building block that everyone is familiar with in the industry to build such a system and record it as a pure utopian thought experiment? So we wrote this article, which can be considered as a small scene that can be applied to the industry ~

NO.10 Brain Hole: Reinterpreting the Future Significance of the "Super Carrier" of the Trinity of Commodity, Securities and Currency from BNB

Author: Robin

Click on the article title above to read the original text

BNB in ​​early 2019 is a well-deserved "head card". Therefore, we take the Binance platform coin BNB as an example to explore the commodities, securities and currency attributes of cryptocurrencies, and provide a new observation framework. Of course, this observation method only looks at it from the perspective of economics, and does not involve the evaluation and discussion of relevant laws and compliance at the level of securities supervision. Thanks for reading ~ Welcome to share your thoughts on 2019 in the message area below ~

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