Han Feng: BTCD can play an important role in future listed companies in dealing with debt crises

(This article was rearranged based on Han Feng's speech at the DBS Bank Tower RWA Forum in Lujiazui, Shanghai) 1. Introduction: Starting from personal experience, focusing on the debt crisis and the value of BTCD, I'd like to talk to you about some practical topics today. Everything is based on my personal experience. Over the past many years, I have always been concerned about the relationship between Bitcoin and the debt crisis. From initially being questioned by the traditional financial community, to today's changes in global attitudes towards cryptocurrencies, to exploring BTCD solutions in actual combat, I hope to bring you new thoughts on dealing with the debt crisis of listed companies. 2. A shift in perception: From “questioning Bitcoin” to increasing global recognition (1) Clash of ideas in the early years: Traditional finance's exclusion of cryptocurrencies in the early days of cryptocurrency development, I was directly opposed by traditional financiers for recommending the allocation of Bitcoin. They insisted that “money can only be issued by the central bank” — this is the core creed in college finance textbooks, and it seems irrefutable. At a financial forum in Shanghai in 2016, a leader of the Financial Services Administration also strongly persuaded me: “The central bank must have exclusive rights to issue currency before implementing monetary policy.” At the time, these views sounded logical and rigorous, but subsequent global financial practices gradually overturned this “single perception.” (2) 180-degree shift in attitude: US and Harvard's approval 1. US policy shift: Now the US has clearly confirmed that Bitcoin can be used as a national reserve asset, and sees stablecoins as an important means to resolve the US debt crisis. This transformation proves that excluding the financial role of Bitcoin and cryptocurrencies will drastically reduce the country's monetary policy choice space, and even fall into a “stuck neck” passive situation in trade wars. 2. Harvard resonance: In 2024, in order to clearly explain the value of Bitcoin, I made a special trip to Harvard University to talk with Yale directors and Harvard alumni about “solving the global debt crisis.” After I proposed the core logic of Bitcoin, not only was it approved by them, but I also encouraged the NBW (New Bretton Woods) team to successfully obtain incubation approval from the Harvard Innovation Center under the advice of Professor Harvard Xue (for example, going to the Cuiyuan Hotel in Boston). 3. High level concern: Even President Trump has begun to focus on Bitcoin and stablecoins — essentially, traditional “central bank money” methods are no longer sufficient to resolve the current debt crisis, and cryptocurrencies provide a new path. 3. The nature of the global debt crisis: the 100-year cycle and the failure of traditional solutions (1) Radalio's core judgment: the once-in-a-century crisis Ridalio, founder of the Bridgewater Fund, concluded through massive data in “Debt Crisis” that the world is currently facing a global, deep, large-scale debt crisis once in a century. Unlike a “minor crisis” every 10 years (such as the 2008 financial crisis), the scale and depth of impact of this crisis far exceeds that of the past, and is an “overall crisis level cycle.” (2) Limitations of traditional solutions: “printing more money” cannot cure the root causes of debt crises. Traditional methods are essentially “injecting liquidity through printing money”, such as: · The world's mainstream “quantitative easing” policy; · China's 4 trillion bailout plan launched in 2008. However, these methods are largely ineffective for the “once-in-a-century crisis” — the last crisis of a similar level was the Great Depression of 1929, which ultimately required World War II to break the cycle, which is enough to explain the limitations of the traditional path. 4. The key to breaking the game: The core value of hard currency (gold, Bitcoin) (1) The essential advantages of hard currency: increasing liquidity without increasing debt, Ridalio clearly stated in “Debt Crisis” that to resolve a century-level debt crisis, it is necessary to rely on hard currency (such as gold and Bitcoin). The core reason is: · Hard currency can provide capital liquidity to the market and will not increase the debt of any party; · The opposite of the logic of traditional banking systems: capital injection and “borrowing” will inevitably lead to an increase in debt accumulation, which ultimately results in high and difficult debt accumulation. (2) Historical references: Implications of the Bretton Woods system The 1944 Bretton Woods system essentially “anchored hard currency gold to issue dollars” — according to today's blockchain logic, it is equivalent to “anchoring gold to issue stablecoins”. It relied on this model to resolve the global debt crisis at the time. This historical experience proves that the crisis cannot be solved by “the central bank's exclusive issuance of currency”; it is necessary to combine “hard currency” with market consensus to find a way to bail out the market. (Note: Bretton Woods is small...

Bitcoin DeFi Project Elastos Launches BTCD, a BTC-Backed Stablecoin

According to CoinDesk, Bitcoin DeFi protocol BeL2 developer Elastos announced the launch of BTCD, a stablecoin backed by BTC. Ahmed IJ, head of marketing at Elastos, said that BTCD is backed by Bitcoin, and the collateral amount is equivalent to 160%-200% of BTCD's value. When the price of BTCD is above $1, holders will destroy tokens to redeem BTC, causing supply to decrease and the price to decline; if it falls below $1, users deposit new BTC to mint BTCD and sell it off, increasing supply and recovering prices.

Greeks.live: Most traders are concerned about BTC or fall to the $7.8-8.1 million area

Comparing news, Greeks.Live macro researcher Adam posted a Chinese community briefing, which stated that market sentiment is bearish, and most traders are concerned that Bitcoin may fall to the $78,000 to $81,000 area. Some members believe Bitcoin will rebound, but most traders are wary of short-term trends, especially after experiencing large-scale ETF outflows. Many traders have observed that the current chip gap lacks effective support. At the same time, there are indicators showing a net outflow of US$757 million from the US spot Bitcoin ETF. The crypto market showed an unusual trend. The Bitcoin Dominant Index (BTCD) did not rise during the decline, and the performance of altcoins was relatively strong, indicating that the market structure was different from the past.

HashKey Capital Investment Manager: Small-cap altcoins may be expected to usher in new rotation opportunities

In comparison, HashKey Capital investment manager Rui tweeted that as Bitcoin fell from $29,000 to $25,000, the market had finally broken out of the volatile range. Assuming that $25,000 is the median of this round (20,000 to 30,000 US dollars), the key points that may affect the market are as follows: ETF approval is still the biggest variable in the short term, and the results are likely to be released in September-October. If the ETF does not pass, it will further dampen market sentiment. If the ETF passes, rising back to 30K will also trigger the Fomo effect. It will continue to fluctuate in the short term, waiting for the trend to respond to the news in advance. On the regulatory side, the June statement suggests that Binance has reached an initial settlement with the SEC, and it is unlikely that there will be sudden penalties in the short term. At the ETH level, a large number of Layer 2 projects were launched in the second half of the year, and abstract accounts, etc. were added. At the ecological level, if no new developments occur, many narratives will be falsified, so the activity on the chain should increase. After BTC falls, as long as BTC does not continue to fall, BTCD should theoretically increase, and some altcoins will experience price recovery (continued sluggish+good liquidity). At this stage, it is quite clear how exchange altcoins can be traded by a sharp rise and fall, and the small Alts market may continue to rotate rapidly. However, the market value of the previously popular on-chain altcoins is already relatively high, and the probability that it will continue to soar as Dazhuang withdraws is questionable.

[Press Release] Soteria Theme Sharing | Min Wu: Expanding Blockchain to Block Charts

Claire: On August 8, we shared a topic entitled “DAG's Past and Present Life (1)”, which received enthusiastic attention and discussion from many friends, and many of our peers joined the “Magic Piper Community” as a result. Today, the keynote speaker, Mr. Wu Min, will continue to share the theme of “DAG's Past and Present Life (2)” and further explain more technical details, difficulties, solutions and tools of BlockDAG, so that everyone can have a deeper understanding of BlockDAG. We welcome everyone to ask questions and discuss them in depth in the Q&A section later. Now I would like to ask Mr. Wu Min... min: Hello everyone, I'm Min Wu. Today's topic is to explain how to expand from blockchain to block diagram. The link on Github is: https://github.com/soteria-dag/soterd Today's sharing is mainly aimed at developers; there are only a few programmers who understand slang (black language). I try to share it in a way that is easy to understand so that everyone can benefit. In the previous issue, Ming Guo talked about “DAG's Past and Present Life (1)”. The link is here, https://news.huoxing24.com/20190812204900103888.html，我们快速的回顾一下. 1: Soteria is an infrastructure technology for an “endogenous decentralized economy” (SSDE - Self Sustainable Decentralized Economy). 2: Soteria is developing an overall solution to address some of the pressing problems of the current generation of blockchains while providing an adequate feature set for its anticipated decentralized economy — such as scalable throughput based on block graphs (BlockDAG). 3: DAG is called a directed acyclic map. 4: BlockDAG is called a block chart. There is a huge difference between BlockDAG and TransactionDAG. For details, see the section on transaction DAG in the previous sharing. 5: Soteria DAG is actually an extension of Bitcoin's Satoshi Nakamoto consensus algorithm, making it inclusive and providing flexible, elastic and expandable features on the basis of guaranteed security. The block chart looks like this: in this example. At the bottom is the GENESIS (GENESIS) block, and the arrow points from one block to its parent block (parent). If a block is not a parent of any other block, it (s) are called tips for the current block chart. For example, the tips in the image above are M, J, and L. Genesis, parent block (parent), and tips are all very important concepts, and we'll mention them over and over again later. Under the premise of inclusiveness, how can safety be guaranteed? For example, what about malicious mining? Here we'll talk about Phantom and Greedy Phantom. What is Phantom? Phantom is a staining/sorting protocol invented by Yonatan Sompolinsky and Aviv Zohar. It is implemented in the following three main steps: 1: Identifying a set of well-connected (well-connected) blocks. This is called the blue set (set). Other blocks, such as those that only reference older blocks, or blocks that have been kept private for a while, will most likely be excluded from the blue set. 2: The block chart is topologically ordered, giving priority to blocks in the blue collection, and lagging behind blocks not in the blue set. 3: When sorting and checking transactions, the order of the block chart will be used. Legal transactions will be adopted and malicious transactions will be discarded. Let's look at using Phantom or Gree...

According to public data, up to 12:00, the top 100 cryptocurrencies by market capitalization generally showed a downward trend. The prices of only ten cryptocurrencies were rising. The rising currencies were STEEM, SYS, BTCD, GAME, VTC, TV, PPC, CEO, XPM, and BAY; among them, SYS had the highest increase, reaching 48.58%.