1. Does Ethereum have any safe financial management channels?
In the current crypto ecosystem, I think if you want to talk about safe financial channels, you can either lend ETH to lending applications (such as AAVE, Compound), or send it to participate in Ethereum staking. However, the returns of both are not very high.
I think in the current crypto ecosystem, we mainly earn from the price difference of assets. In comparison, this income is not that important.
Therefore, most of my ETH is still stored in cold wallets.
2. About Bitcoin Fraction
If my understanding is not too far off, I think that Forked Bitcoin is somewhat similar to a sidechain, and is not particularly different from other Bitcoin second-layer extensions in terms of security.
It solves the same old problem: scaling Bitcoin performance.
But I think that although the many existing Bitcoin expansion solutions each have their own problems that can be criticized, their performance expansion can already meet the current applications.
To make an inappropriate analogy: using the dumbest method to develop an Ethereum virtual machine hooked to the Bitcoin mainnet (in fact, many existing popular solutions do this). This architecture is sufficient to meet the current application requirements for Bitcoin performance.
But what can we do about it?
It still does not solve the most important contradiction in the Bitcoin ecosystem today: the lack of applications.
It’s like what we lack now is not highways but cars to run on them, but the current ecosystem is still trying to build more advanced and safer highways.
3. ZK Coin project team’s cooperation capabilities
If the ZK coin here refers to zkSync, then I think the reputation of this project seems to be very average at the moment.
Its last airdrop caused a lot of negative feedback in the community. And after the airdrop, its TVL almost plummeted. From this, it seems that the project's cooperation ability is relatively average.
At present, it seems that the best performing projects among Ethereum’s second-layer expansion projects are only Arb, OP and Base.
4. If the performance of Ethereum and its second-layer extensions continues to improve and reaches a certain critical value, some of the original application scenarios may have a qualitative leap.
I think it's possible to some extent. It's happened on the Internet.
When I was reading the history of the development of the Internet, I read that in the United States around 2000, some entrepreneurial teams proposed various online stores and online marketing, but those practices failed at the time.
It was not until several years later when Taobao became popular that we saw the once imagined models in the United States being realized by countless small and medium-sized businesses in China's e-commerce field.
Looking back at the current sluggishness of the Ethereum application ecosystem, I think perhaps the best way is to wait and observe. Perhaps some of the most insignificant small applications and inventions that we see today are the seeds of future big disruptions and innovations.
5. On August 19, the Supreme People's Court and the Supreme People's Procuratorate jointly held a press conference to release the "Explanation on Handling Money Laundering...", which listed "virtual asset" transactions as one of the methods of money laundering.
In fact, using virtual assets to launder money is definitely illegal, whether now, in the past or in the future, and this is no exception in any country in the world.
However, the interpretation and enforcement of laws vary greatly in different countries, which can cause some unnecessary trouble.
Specifically for our country, I have always said that we must abide by domestic laws when we are in the country, and if we are in Hong Kong, we must abide by Hong Kong laws.
In the last Twitter exchange, I specifically responded to a reader who asked whether it was necessary to open a bank card in Hong Kong. My purpose is to hope that we can handle crypto assets in a legal way.
