Oct 28, 2020
Tokenomy represented by IPFS may be a good cure to save the infant-like market of the entire crypto circle
The day of October 15, 2020, may be an epoch-making time for the development of the blockchain industry in China and even to the entire world. Because on this day, the three-year-old distributed storage network IPFS was officially launched. What is more widely concerned is that Filecoin which is based on the bottom layer of IPFS, has also been simultaneously launched on major exchanges.
The crypto circle has been silent for a long time is also very enthusiastic and excited to give it a try. Huobi and Binance have specially given out tens of thousands of USDT rewards to attract Filecoin holders to trade on their respective exchanges. That night Filecoin finally ushered in the launch, the price soared to 220USDT in an instant, the entire crypto circle was carnival, and some people showed that he has bought it at 50USDT, and sold it at 200USDT that appeared in an instant claiming to make 180,000 USDT. A screenshot showing proudly that the crypto circle can really get rich .
As of the early morning of October 16, someone discovered that a large number of Filecoin was transferred to Huobi. Then the price of Filecoin plummeted and the entire crypto circle was wailing. In an instant, all kinds of bad-mouthing voices are endless, IPFS is one of the tools for the United States to cut the leeks from the miners in China, IPFS does not have any ecological applications, etc. Some people even summoned the investors from Huobi to defend their rights and said that Huobi is the one who cutting the leeks. The coins inside are counterfeit and cannot be withdrawn. Some WeChat group even sent out a 30-year-old man with glasses crying that his hard-earned money had been cut from the leeks… Regardless of its authenticity, I’ve always been the most uncomfortable with this kind of self-defeating after earning money, and crying about the hard-earned money being cheated when losing money. The secondary market is unpredictable, and every adult has to take responsibility for the actions.
The blockchain has been in development for ten years, and there are still a crowd of people who just use the crypto circle as a tool of speculation. If they win, they will praise and applaud, and there are no lack of praise. Investors who are losing money were crying and screaming that they will never invest in it anymore and request the exchange to return the money.
On September 4, 2017, the state issued the “Nine-fourth Supervision”. The general content is to prohibit any domestic project party from issuing coins and prohibit any exchange fiat currency transactions. This supervision has caused great shocks in the crypto circle and also lead the current situation that all the exchanges are registered overseas. The reason is that the domestic project party messing around and the immaturity of the investors.
The P2P Internet financial lending that emerged in 2008, on one hand, P2P did solve the financing problems for most of the people, and on another hand, the problems that broke out also caused the regulators to be troubled. “Naked loans”, platform embezzlement of funds, false bidding projects, rights protection and petitions are all happened in the same place.
The meaning of the “Nine-Four Regulations” is to transmit information to investors. You can invest on crypto currencies, but only USDT, which is also a crypto stable currency, through OTC over-the-counter transactions. You cannot give fiat currencies to exchanges, and domestic transactions are prohibited. All investment behaviours are your personal behaviour, if you have disputes with the transaction, then you will have to go to the country where the exchange is located to file a complaint…
Our country has been poor and weak for more than 100 years since 1840. Even after the founding of the People’s Republic of China, it was repeatedly harassed by famines until 1980. The real life of ordinary people has improved significantly in the past two to three decades. The young generation after the millennium won’t be able to understand the experience of eating meat and wearing new clothes in special occasions when they were young. This also creates a sense of insecurity in our mindset. We are anxious to do everything, for fear that it is not our turn. Many developed countries laugh at the low class of the mainland people in China, and we also accepted it. If any country has lived in poverty for more than 100 years like China, I am afraid it is far inferior to the Chinese nation.
The most direct manifestation of investment is that we can’t wait to get rich overnight, and we blindly worship people who makes money, no matter how the other party’s money is collected, so there are experts in the crypto circle who are good at rubbing hot spots even if they will spend huge amounts of money to bid for a steak lunch with Buffett, and event someone in entertainment industry pay their own costs just to perform at the Golden Hall in Vienna.
In addition to the golden pillow durian and the ladyboys, Thailand is also an extremely polarized country. After each general election, half of the people feel that it has nothing to do with them. Every time they “do not recognize the election results -> go to the streets to make trouble. -> Re-election -> The other group did not recognize the results of the election -> Continue to take to the streets” until the military government jumped out and took the power. Western countries called this “baby democracy”, and the current status of the domestic crypto circle is roughly the same. Infants are babies. They will make trouble, if they are unhappy or not making money.
After Filecoin was launched, in accordance with the usual rules of the crypto circle, It will be embarrassed to announce if the price without increasing dozens of times as an evolutional project. However, I did not expect that the price plummeted when it was launched. Investors who invested in IPFS mining machines were also confused, because it’s said that the project is invested by the eight largest venture capitals from Wall Street. It has been blew up and fell like this as soon as it went online. Isn’t our return on investment a long way off?
In fact, for the IPFS project, the mainnet launch only represents the beginning of a real entry into data storage. Unlike traditional computing encryption tokens such as BTC and ETH, miners can turn off their machines and leave at any time. Filecoin miners not only need to undertake the storage The service is mortgaged, and long-term participation is necessary to get the linearly released block reward. If Satoshi Nakamoto is the founder of the blockchain and Vitalik Buterin is hailed as the father of smart contracts, then Juan Benet has further combined blockchain technology with industrial applications and made a trans-epochal significance.
As Juan Benet said, the IPFS mainnet launch is not to let miners get rich quickly, but to truly shift the data storage industry from centralized storage to more secure and efficient distributed storage, which also represents the future development of Web3.0 Direction, in another word, the value of the Filecoin token really lies in the incremental speed of data storage.
The blockchain industry has undergone 10 years of development. Although more and more people are paying attention to the value of this industry, there is no lack of speculative mentality. “One day in the crypto circle equal to ten years in the world” has become a mantra of some people. No matter how good a project is, as long as it does not allow participants to make huge profits in the short term, it does not seem to be enough to attract the attention of the crypto circle.
Taking the recent soaring big “uncle” series of coins — — YFI, the rise of thousands of times at every turn has really made people in the traditionals and even the executives of listed companies who have received a few original shares were surprised and discriminate against it. In the crypto circle, there are even people who consider Bitcoin as a pyramid scheme.
Fortunately, there are also some projects that use the tokenomy to reform the integral chain, which is combined with the traditional economy and the incubation economy, instead of relying on model control. The token economy MLT and JDT created by the 1B1R Commercial Club are great explorations in the tokenomy field.
Why are there so many people in the crypto circle, and even friends who entered in 2017 or earlier did not make money? The fundamental reason is that they do not have self-judgement, do not want to learn or read white papers, and even not to mention about reading sharing codes from Github. After all, people has invested real money, they just need to spend some time on it and it was not a difficult thing to study on. A lot of people enter the market with a little good news, and stop losses with a tiny bad news, because they don’t understand the project they are participate in, not even to mention about their beliefs of self-judgement, they became a qualified leek by buying and selling without understanding the market.
The underlying discipline of investment is also psychology. Just like the recent launch of IPFS, due to the issue of staking coins and various rumors, investors in various WeChat groups have lost information about the project, felt that their investment were arbitraged away by the Americans, and felt that the mining machine they’v invested from dealers have not been nominated and the mobile application has not been able to come out for quite a bit of time. Many investors who invested in mining machines do not have enough critical thinking mindset. As long as someone in the group stirs up troubles, their emotions will immediately rise and follow.
Investment is divided into two types, one is long-term value investments and the other is short-term arbitrage speculation. But no matter which kind you are, you should try to understanding and get more information about the project at first and to have the ability to judge various information. Especially for those sought-after projects, the information is mixed, and some people will spread rumors of all parties. Many Vlogger or self-media will also guide the emotions of newbie investors in order to attract their attention, and people who are optimistic about their value will follow the trend and increase his bargaining chips when the market is down at this time.
According to Yu Jianing, vice chairman of the Blockchain Committee of the China Communications Industry Association and president of Huobi University, to a great extent, the wealth opportunities knocking in the blockchain industry come from the realization of cognitive surplus. We can no longer draw a conclusion of blockchain on the basis of partial understanding, like a blind man to feel an elephant. Instead, we need to deeply understand the underlying logic, so as to be equipped with “Blockchain Thinking”.
As a technology of the underlying data storage in the blockchain field, IPFS has the potential to achieve the real landing of the blockchain industry. The Filecoin document token based on IPFS should be classified as a token, because it contents the value of the three elements of the tokenomy “Falsifiable, transactional and valuable”. Filecoin should not become a tool for speculation in crypto circle. It can exert real value when the data storage industry is truly promoted from centralization to decentralization.
Just as Mr. Li Jiacheng, the founder of the World Internet Ecosystem Fund, pointed out in the book “Tokenomy Reconstructing the New Ecology of Digital Real Economy”: The Tokenomy is defined as the “Blockchain New Economy”, which may change people’s pattern of consumption and entrepreneurship, even the entire business world. Even so, its power depends on the consensus of the community.
We also sincerely hope that the tokenomy represented by IPFS/Filecoin will allow everyone who is optimistic about its value, and to make their own efforts for the ecology, and jointly promote the real landing of distributed storage technology, and no longer become a tool for speculations.We hope that every investor who holds the Filecoin can truly understand its value and no longer be an infant in the crypto investment market.
Original article link in Chinese.：http://epaper.nhaidu.com/life/xinwen/2020/1027/66412.html
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