Cryptocurrency's Path to Innovation: Cheng Wang's Defeat, Kou Hua Yu Chen
Author: Zhu Weisha
email:zws200712@yahoo.com; briancui2018@gmail.com
Word count:4798
Nakamoto opened Pandora's box and let out hope and the devil. What is hope? What is the devil? Graham had this to say:“Stocks are voting machines in the short term, and weighing machines in the long term.” In the 14 years since Bitcoin was introduced, leading cryptocurrency projects have stood the test of time, and their currency prices can definitely reflect the value of the project. Analyzing the gains and losses of these projects will be enlightening for friends who are still on the way.
No. 8. Cheng Wang's defeat, Kou Hua, Yu Chen
Sun Yuchen is honored as Brother Sun, and people make fun of him“Sun Ze”。2023年9月11day,Wave field币TRXRanked 10th on the currency market capitalization website, market capitalization69Billions of dollars. Brother Sun is only older than Vitalik3Being old is also scary after life. There are three Chinese in the top ten cryptocurrencies. They are first, fourth, and tenth respectively. They are all有Story corner色。Sun YuchenThe fluctuating field coinTRX在2018The total market value for the year has passed130With 100 million US dollars, the ranking was in the top ten, then it went all the way down. At that time, there were many blockchain projects issued by Chinese people.They are all rankedIn front of him，Among them, there is no shortage of cryptocurrency veterans and people full of aura. Time is killing pigs, same environment,Right now there is onlyBrother SunBack to the top ten.
Of these three Chinese, I only know Sun Yuchen.曾At a friend's housetogetherHave eaten meals a few times,I feel that he is polite, which is different from what society describes.2023年3月23日，US Securities and Exchange Commission (SEC) Announces nominations against eight celebritiescryptocurrencygougingcharge，whichrangingSun Yuchenand its crypto asset companiesVolatilecoin(TRX)和BTdownload (BitTorrent) supporters.Writing about Brother Sun is a chore.Say nice things for him and say he's notThe “scammer” will think I took him how much money.Authoritative officials have identified him as existing“fraudulent” acts,To thisI'm a little bit confused. Because Brother Sun doesn't have the basic characteristics of a liar:“A liar can only deceive for a moment, not a lifetime”，If it were to lie to the world, it would be“Love lasts forever.” This too是Graham's principle:“Short-term stocks are voting machines（(Cheating for a while), it has been a weighing machine for a long time（(Don't lie to the world)”. The market is a classic saying:”They all hate Sun Ce, but they all want to be Brother Sun”。According to the article,2018Annual fluctuation market coinsTRXAfter going online, Brother Sun60Cash out in 100 million waves of exchange coins3Billions of dollars.The highest price in history appeared in2018年1月5Day, arrival0.1984dollars,Brother SunThe average price to cash out is0.05dollars. Today, Sun Ge's currency is0.078The dollar, at0.05The dollar took over Brother Sun's chives, far superiorAShares, let alone beat Evergrande's Xu Jiayin. Compared to them, Sun Ge is a little witch seeing a big witch. However, at that time, Grandpa Sun did cut a bunch of chives.“Sun Ze” Hence the name. This name is accurately positioned; it is not a “lie” but a “cut”; Zhou Yu beat Huang Gai one wishes to fight another. Brother Sun's approach may be inappropriate, but if he doesn't “cut”, can he survive the risks for so many years? Brother Sun is also unscrupulous. When the market makes “voting” mistakes in the short term, it shows Sun Ge's ability to seize opportunities. So many projects died today that there wasn't even a scum left, so I bought my grandson'schivesThey still have a chance to unpack. The market is all about losing ground. If the project loses, it is the greatest betrayal and damage to the people who trust you. A responsible entrepreneur and project party should always remember the trust long-term investors place in you and remember the mission to pursue a continuous increase in project value.
The development of cryptocurrencies reminds me of the early days of China's reform and opening up; it can be described as the beginning of chaos. There is a saying in China that the early Chinese entrepreneurs were either in jail or on their way to prison. The power is the same all over the world. It frightened Satoshi Nakamoto to go incognito, and also frightened Zhao Changpeng and Sun Yuchen to hide in Tibet. China's reform and opening uptranspiresa new element——Chinese entrepreneur. While creating their own wealth, they have optimized social resources and brought economic prosperity. They are all ordinary people with flaws, and they are also heroes of the times. Scammers and entrepreneurs all want to tell stories; one is broken; the other one is done. What became was Brother Sun; what did not become was Sun Ze. Sun Yuchen'sTRXOutperforming the general trend seems to have “succeeded” in the long run.
Outperforming Satoshi Nakamoto's Sun Yuchen
Figure 1 shows Bitcoin2017The chart for the past year. Figure 2 is a chart of volatile market coins. Bitcoin slightly outperformed Bitcoin in the short term. In the top ten, there is also Ethereum, which has basically outperformed Bitcoin, and the rest have all lost to Bitcoin. Looking at long-term trends,TRXThe distance from the high point is far less than the gap between Bitcoin's price today and its all-time high. The long-term trend is weighing machines. After considering US regulatory factors, the market still voted for Sun Ge. It seems that the market does not agree with the statement that Sun Ge is a scammer.
Figure 1 Bitcoin chart
Figure 2 Volatility currency chart
From a third-party browser (oklink.com）2023年9月10JapaneseAccording to the data, the number of transactions per second in the wave field chain (TPS) Yes66, Binance Smart Chain is39, while Ethereum is10. The non-zero address of the wave field chain is2100 million, Ethereum is1100 million; wave fieldUSDTCirculation volume420亿USD, while the circulation volume on Ethereum is390亿USD. Why do small countries choose the Wave Field Chain and not the Ethereum Chain? Because the wave field chain is fast, transactions are cheap.Under NambaUSDTandTUSDThey are all stablecoins,USDT占92%。TUSDIt has two meanings,trxUSDT和TrueUSD，presentlyI can't find it on the official website of BochangTrueUSD。
Figure 3 is another stablecoin issued by WavefieldTrueUSD（TUSD). You can see the entry2023After a yearTUSDRapidly jumped to32Billions of dollars. It clearly explains the changes in stablecoins on the wave market.
Figure 3 TrueUSDEcological leap in wave field
The author specially selected the currency market capitalization website ((Coinmarketcap)data. This is a trend, news that some of the top cryptocurrency statistics websites are starting to go live.pursuantreputedCryptographic Data Analysis Service Research InstituteMasari (Messari）Published2023Second quarter of the yearPublic chain (L1）The report shows that2023The wave market continued to maintain strong deflation in the second quarter of this year.half a yearThe deflation rate reached2.8%. In terms of revenue, Ethereum and the wave market account2023Second quarter of the yearPublic chainOf the total revenue generated93%, ranked in the top two blockchain networks.
Brother Sun didn't have a golden spoon, and a poor kid in a ravine finally got mainstreamResearch institutions'Acknowledge.Small countries use wave field chains,Reflect on Brother SunThe countryside surrounds the cityThe strategy. What is the biggest characteristic of Son GeIs “unframed” good or bad? I don't know. For the grassroots, daring to think and dare to break through may bring the only opportunity, what if? Besides, he's not a mortal.
Of an extraordinary person“Black” history
Brother Sun is different from ordinary successful entrepreneurs. He doesn't have the ingenuity of Satoshi Nakamoto born from deep thoughts, nor does he have Vitalik (Vitalik) and Zhao Changpeng's technical advantage in improved innovation made his path even more difficult. By contrast, like Ma Yun, he doesn't understand technology; they are all opportunities to catch up with the times, and they all have the tenacity and perseverance of different mortals.
Like Ma Yun, he can fool around. They are all marketing masters who know the internet. It is worthy of being Ma Yun's graduate from Lakeside University. Bochang's official website lists all his honors7Item. Lakeside University is one of them, and don't forget to add the only sentence90After. This is something he cherishes very much; apparently, it has been deceived by Master Ma. Like Master Ma, he can use people. His core developers were first dug up from Ali, and even “Can Copy” is a true legend of Ali.
In addition to touching porcelain Ma Yun, he also touched porcelain Buffett and fooled the old gentleman three times with a sum of money. The effect of the three reports far exceeds4,567,888The value of the dollar.He did a lot of things that no one else dared to think or do:ResponsiblePermanent Representative of Grenada to the World Trade Organization表；在LondonChristie's20Taken at Century Art Night2000USD 10,000 (1.3100 million yuan) and200USD 10,000 (1300The price (10,000 yuan) was taken separately for Picasso's “Lying Naked Woman Wearing a Necklace” andAndy·Warhol“Three Self-Portraits” by；以1050万The price of the dollar was photographed and numbered3442的Sun Yuchen punk (Justin Sun Tpunks）avatar；Heavy throw250010,000 US dollar purchaseFly toA ticket to a space ship.Seemingly, that isHaoheng. What does being rich mean? Individuals have their own opinions, but in a society that worships money, this must have attracted attention and red eyes. There is no equal suffering from less suffering,soBlack's expectations have gone unabated，It has received numerous reprints. He also became a consumer target.
Wherever there is excitement, there is him，He is good at stealing the limelight。2023年4month,Of distributed fundsXiao Feng in Hong KongHosted the eventOneWeb3The summit, hePull upLady with small ears (onechairpersons) But it was in the limelight. So much more.
Just yesterday,Comparing the news, Sun Yuchen is hereXThe platform says:“Consider rightFTXHeld tokens and assets were offered to reduce the impact of their sell-off on the cryptocurrency community. Let's unite to support our crypto ecosystem”。I don't know if it will happen; I have attention, and I have a public image.
The spread of the Internet hasCharacteristics of ripple propagation of water wavesOr maybe a little more, or maybe a big wave. This is also called event marketing. It's hard to grab attention without an event. How to last地Eye-catching? presentlyCommon waysIt was the project leader who spoke for himself. Sun Ge has Twitter in English346.5万fan, Chinese has6.6Ten thousand, a total353.110,000 followers, ranking third in the coin market, less than Vitalik145ten thousand. There aren't many hot events in the coin industry. If I had to say who had the most headlines, it was none other than Brother Sun. There are good and bad things about following an unusual path. Brother SunFans in the Chinese communityonly6.610,000,Disproportionate to English fans, apparentlyChinese communityblackenedThe impact of the forecast was huge.
Wave field2017Annual coin issuance，2018Launched in the year, as can be seen from Figure 2, until2022The year has been relatively stable, and the number of users continues to grow. Currently, it is the project with the most non-zero addresses on the chain. As an internet project if it hasn't been in three yearsGet it outA place of fame, then there is basically no place of fame. Brother Sun's wave chain has been used for three yearsrenderedThe third-largest cryptocurrency chain, which naturally has some fame. He has an internet mentality and is not bound by the dogma of blockchain.cryptocurrencyIs there any idea that a project will be acquired念。? But Brother Sun has acquired several projects？If Brother Sun were able to earn money, it would cost a lot of money.It's dazzling.There is no full picture of this empire on the official website of Wavefield Chain，Therefore, opacity is a major problem; it reminds me of his dark material.
Son Ge's technical breakthroughs are not significant. Sun Ge said there are waves7It's better than Ethereum; Vitalik added one to him：“There is also copy and paste”. Cryptocurrency technologyIt's open source,Dogecoin and LitecoinbasicsThey copied bitcoins; there is no shame in Brother Sun copying some.Coin circleThe fight is for innovation, product, and market ability. vs于As for products and market capabilities, Sun Ge can teach friends in the coin industry. Now it's time for cryptocurrencies to become a node for commercial applications, ifThe project party did notMarket power doesn't have the good fortune of Bitcoin and Ethereum back then. Satoshi Nakamoto can lie back and win, Ethereum needs to be bigVNo marketing required; Sun Ge is good at marketing creating hot spots and following hot spots.In terms of product and market integration capabilities,Brother Sun's level is a benchmark. Without him,The future is in the coin industryIt's hard to mix up.
How to see the value of volatile market coins
The value of Bitcoin has a reserve price and a market price. The reserve price is determined by the cost of mining, and the market price is determined by the market. Ethereum's floor price在by Ethereum1.0Converting to Ethereum2.0That moment was decided because it arrived2.0No moreThe concept of mining costs, and the floor price is Ethereum1.0所inflictedYes. Ethereum2.0It is a deflationary currency. The value of Ethereum is determined by two aspects: burning transaction fees to generate deflation, forming scarce value; and collateral generates interest income. The value of interest income is与The value of risk-free arbitrage generated by comparing US Treasury bonds. Under interest conditions as high as the US dollar, no funds would choose to buy Ethereum arbitrage. The scarcity of EthereumTake the decisionThe development of the Ethereum ecosystem，Ecological development also depends on the development of users and the development of transaction volume.There is no concept of a reserve price for volatile market coins, and there is no concept of a reserve price for equity.In terms of user data, Wave Field has 200 million accounts, which is about double that of Ethereum, and active users are more than double that of Ethereum。2023年6月2Japan, a well-known blockchain data providerMinamimori (Nansen）The data shows,“The trading volume of the wave market is excessive1147Ten thousand pennies is ten times that of Ethereum”。2023Annual number of accounts, active users, and trading volume上, beating Ethereum.This is an advantage.but在It lost to Ethereum in terms of security, transparency, centralization, and compliance.
Bitcoin, like Ethereum, does not represent the value of each system, so it is not a security. The US Securities Regulatory Commission also did not attack the market from the perspective of securities, but it brought charges from the perspective of fraud, and I cannot comment on this.
Currently, there is no complete evaluation method for cryptocurrencies that are not securities, norapplyMethod of equity evaluation. In the crypto ecosystem, a set was invented based on the total amount of locked positions (TVL) Method of valuation.2023What was the total hedging volume in the first half of the year130Of the billion dollars, Ethereum is84Billions of dollars. The author does not agree based on the total hedging volumeThe one that is valuedLogic, because this indicator is not a linear relationship with trading volume. It can only be described as a relative indicator.
2023年9月11日EthereumMarket capitalization是1868One hundred million dollars, the wave field is69One hundred million dollars, the wave field is just a fraction of Ethereum, isn't itunderestimatedToo exaggerated?What is the reason for this? The author has listed5It's a rule:
Wave Field's Path to the Future
Wave fieldTRXinitialsale1000100 million,tokenThe distribution is as follows：
1.TRONfoundations(34.3%): Used as a foundation and as a team；
2.Open sale(40%): At2017年8月30Japan to1ETH = 205,000 TRXsale400100 million piecesTRX币；
3.Private sale(25.7%): AtTronBefore the foundation was founded,1ETH = 1,025,000TRXPrivate sale25.7%；
4.Issued more every year in accordance with the Community Governance Reward Decision1.8%Used for super delegates and voting node rewards,约18.5
亿/year. to2021年TRXThe total stock is approximately1,019 100 million. As the trading volume expands,2023年TRXThere was already deflation in the first half of the year2.8%。
On the road to the futureGe Sun's views on the market and at the bottom of technology are all very sharp. They are application-oriented and quiet地It has surpassed Ethereum in terms of data.
First of all,They areDare to copyThe style of catching up with Chinese companies, Europe and AmericaIf not, there's nowhere to copy it. Why is it nowIt can't surpass Ethereum,Because there are no new ideas. Cryptocurrency is extremely respectful of innovation, followersMainstream funding concernsNot very interested. How to get mainstream funding to pay attention? As the author says in 7 of this series “The Possibly Underrated Solana” (Chainless.hk)As stated in, in terms of financeNamibayaflawed, if you want to find ways to improveImplement proper financial logic.
The second question is transparency. Take a look at Ethereum's official website and take another lookOf the wave fieldYou can find out on the official website，找到Volatile coin issuance data is really difficult. Ethereum doesn't have any dark history, and transparency is still good; it publishes the foundation's annual report at least every year.For wave fields,Is this difficult to do?
The third problem is excessive marketing. It's right to attract attention early on, but in the second stage, you have to be reasonable, just like Vitalik did. Investors in big financial institutions are not easy to fool; fooling them is useless for big investors.
The fourth problem is that hiding is not a solution. Facing the US Securities Regulatory Commission head-on, admitting the penalty was wrong. It is difficult for a problematic project to have a mainstream funding platform. To solve this problem, the situation is very different for investors with the coins you have.
Fifth, the idea of investment and acquisition is good, but it is necessary to show the overall ecological connection and real goals. The 10-year target is a space cave.
The wave field has gone through the reckless era. If the above problems are solved, there is hope to enter the mainstream.
It's not easy for Sun Yuchen to have such results. He verified a truth: when it comes to applied products, Chinese people don't输In Europe and America,抄It's better than the original. Here, I'm not a moral judge; I use the data I've seen to talk about heroes.
