"Creators Talk" is a dialogue column with creators launched by Foresight News . We will ask outstanding creators selected every month questions about hot market topics and compile the collected results into articles to collect opinions and discover Think more deeply.
Written by: Foresight News Outstanding Content Creator of the Month for October
Organized by: Foresight News
October 31st is the fifteenth anniversary of the release of the Bitcoin white paper "Bitcoin: A Peer-to-Peer Electronic Cash System" by Satoshi Nakamoto on the P2P foundation website. It’s been a long road. How many memories and changes have these fifteen years carried?
The theme of this issue of "Creator Talks" is "Memory and Change: My Prosperous Years with Bitcoin". We have invited Haotian , JZ Invest , Folius Ventures , and Spinach Spinach who were listed on the Foresight News outstanding creator list in October. , Uncle Jian , Modular101 and inpower Wang Jun joined the discussion in this issue.
Focusing on the topic of "Bitcoin", we asked "When did you start getting involved with Bitcoin?", "What is the most profound change?", "Which one do you prefer compared to other cryptocurrencies?" and "What else may happen?" New gameplay?" These four questions. Here are the answers we collected:
1. It is the 15th anniversary of the publication of the Bitcoin white paper. As the earliest and most valuable cryptocurrency, Bitcoin is the guide for many people to enter the encryption industry. Please talk about some of your earliest experiences with Bitcoin, such as understanding, purchasing and joining this industry.
Haotian : It’s not too early to be exposed to Bitcoin, but fortunately, I never doubted its value at the beginning. Instead, I studied and studied according to the diagram, and I was deeply attracted by Bitcoin and the wars it brought about among public chains such as Ethereum. . This is the case in the Crypto industry. What you put in front of people is actually a mirror. What you see in your doubts is chaos, and what you believe in is progress. I'm glad I never had any doubts from beginning to end. Although I am not an aggressive investor, out of my love for the industry, I have enjoyed the uniqueness of this industry for so many years, and I am grateful for the new starting point brought by Bitcoin.
JZ Invest : I first started to notice Bitcoin in 2017 when I was a student and saw that the price of Bitcoin surpassed the price of gold. So I was curious about why Bitcoin, which had no "table" application scenarios at the time, could have such a high price, and then started to research and think about how to trade. Make money with Bitcoin.
At the beginning of 2017, I purchased BTC through OTC, but I didn’t fully understand what BTC was. I just used it for speculation. As a result, it continued to fall after reaching a high point at the end of the year, and eventually fell below the cost of 7,000 U.S. dollars. However, it has always been hodl, I simply think this thing has its critical hit rate.
It was not until the end of 2020 that I entered a cryptocurrency trading institution and truly understood the application and development of Bitcoin and other cryptocurrencies. At this time, the BTC in my hands continued to double and double again.
Folius Ventures : A friend introduced me to Folius Ventures in 2017, and then I did some in-depth research and found it interesting. I really got into the industry during the ETH-dominated period in 19/20. I started my own business after meeting many friends online.
Spinach Spinach : As the earliest and most valuable cryptocurrency, Bitcoin is also the one who led me into the industry. When I first heard about Bitcoin, it was probably around 2017. There was a very influential event at that time. It was the "Bitcoin virus" incident. At that time, most of the computers in the world were infected by this virus and demanded Bitcoin. At that time, I became very interested in Bitcoin. Later, when I read the Bitcoin white paper for the first time, I realized that Bitcoin technology would change the world, so I joined this industry under such an opportunity and continued to learn and invest.
Uncle Jian : Around 2012, when I was having dinner with a few friends, I learned about the novel concepts of Bitcoin and blockchain through casual chat. I thought it was quite interesting at the time. After I came back, I started tinkering with the computer to mine it. Mine, I actually mined some Bitcoins, but unfortunately, I had a serious lack of knowledge at the time. I just briefly experienced it as a new technology and briefly understood its operating mechanism. If I spend more time to continue researching and mining, I can’t even find the wallet private key, and the Bitcoins mined at that time will always lie in the wallet. Later, it was only in 2017 that I started to get in touch with this circle again and began to study investment-related content. I remember that a certain chain’s private placement raised more than 1,100 Bitcoins, which really shocked me. Later, I started to study their codes more deeply, and found that these projects actually copied a lot of Bitcoin and Ethereum codes. I I felt that this kind of project would not go far, and as expected, after a wave of cuts, it never started again. So, since then, I have returned to the essence and started to study blockchain investment and technology in a more systematic way. I also opened a self-media account called Uncle Jian to export some of my research results and help others while constantly improving my own knowledge. I know, because I always firmly believe that altruism is the best self-interest.
Modular101 : We joined this industry in 2017. We first cooperated with Huobi on a blockchain course, so at that time we began to understand the blockchain, study the Bitcoin white paper, and learn what is a hash, block header, etc. I remember that the price of Bitcoin at that time was 8,000 US dollars. I thought the price was very high at the time, and I never dared to make a move. I finally got on board when it reached US$1.20,000, and then the price shot up to nearly 20,000 US dollars and entered a bear market. Very exciting!
inpower Wang Jun : I learned about it in 2017. I was studying the code with my good friend from university at that time, and I bought it by recharging money in the early days.
2. Although Bitcoin’s technological progress has been criticized, over the past 15 years, it itself, the industry and the world in which it operates have been constantly changing. What's the most noticeable change you've felt? What does this change mean for Bitcoin and us?
Haotian : The most obvious change is actually the same. The more you immerse yourself in other non-Bitcoin chains, the more you will understand why Bitcoin has such a strong consensus. Ethereum is booming in DeFi in the financial direction, and other public chains are making innovative breakthroughs in applications, but no matter how attractive the narrative is, the market will still look at the big picture. The breakthrough of the pie under the influence of the Federal Reserve's interest rate hike during the epidemic has enabled many DeFi games to build bottoms one after another. Because it accumulates mainstream institutional funds and is also a key asset allocation for many ordinary people. If you lose your firmness in Bitcoin, the waves of narratives in this industry may make people feel bored. However, Bitcoin has no narrative and no changes. Always carry that firmness.
JZ Invest : After experiencing several bulls and bears, the most obvious thing I feel is that Bitcoin has gradually become a type of financial product due to the consensus of speculators and related industry development, especially the BTC ETF that may be passed in the past six months.
For Bitcoin, it is normal development, it is just a matter of speed. For us, Bitcoin is still in a state of gold everywhere, and it is an opportunity to get rich. However, opportunities are accompanied by risks, and it depends on personal ability.
Folius Ventures : Time makes consensus stronger. The long-term security issues surrounding it will gradually be raised - but the world is expected to collapse faster than that.
Spinach Spinach : I think the most obvious change in the crypto industry has been from the very beginning, when it grew wildly and was full of speculation and fraud, FOMO, and emphasized the ideology of decentralization, to now it is gradually integrating with the real world and starting to regulate, and for Bitcoin and us, blockchain Technology is constantly affecting every aspect of our world, and the value of Bitcoin is constantly being discovered and recognized.
Uncle Jian : I think one of the more obvious changes is that the functions of Bitcoin are constantly expanding. Satoshi Nakamoto’s original vision for creating Bitcoin was to use it as a trustless digital currency for payment and settlement. Later, with changes in the economic environment and the entry of investors, Bitcoin also had the function of storing value. It has become "digital gold"; and the vigorous development of the Bitcoin ecosystem this year proves that Bitcoin will add more functions at the application layer.
The significance of this change to Bitcoin is that it is constantly integrating into the world, such as the financial field, the digital world, etc., and the world will pay more and more attention to it in the future; for us, the significance is that every change of Bitcoin is not only Changing the world also gives us ordinary people opportunities to innovate, start businesses and achieve wealth growth. We should all seize it.
Modular101 : The biggest change is that the community spirit of Bitcoin is changing. In the past, it was thought that the Bitcoin community was a group of very Crypto fundamentalist idealists who did not care about changes in other communities or changes in the entire crypto market. However, with the explosion of the Bitcoin ecosystem in the past two years, we have seen more and more innovation and inclusiveness, and we have also seen the possibility of prosperity and development swallowing up all ecosystems.
inpower Wang Jun : This is a bit pretentious. The main reason why Bitcoin is popular is that the issuance of currency in the world today mainly relies on government credit, which is equivalent to unlimited money printing. If the U.S. dollar was still pegged to gold, Bitcoin would have little chance, but it would be impossible for the U.S. dollar to go back. It would be a limitation. For details, please refer to Hayek's "Denationalization of Currency."
3. Which cryptocurrency do you prefer, Bitcoin or other cryptocurrencies? What is the proportion of Bitcoin holdings?
Haotian : Mainly Bitcoin, Ethereum and some trend coins that lead the industry, such as Solana, Blur, Sand, etc. The reason why we are still optimistic about some coins that seem to have expired is because we do not think thatNFT , the Metaverse, etc. are purely products of speculation. The values and concepts promoted by the virtual world and virtual currency have always been there. It just depends on when they can be combined with Reality sets in. For more than 60% of the asset allocation, I am not an adventurous investor, although I occasionally try new things.
JZ Invest : I like Bitcoin in the long term, other cryptocurrencies, and even other applications and business models in the short term, because they have higher short-term expected returns. My current BTC holdings are less than 5%.
Folius Ventures : Others. We still look more at the Web2+ ecosystem surrounding smart contracts. Bitcoin has it but not much.
Spinach Spinach : I prefer other cryptocurrencies. From an investment point of view, the room for Bitcoin to rise is more limited than other cryptocurrencies, and I prefer to invest in those targets with greater potential and prospects. Bitcoin The holding proportion of coins may be 40%.
Uncle Jian : I think there are very few people in this circle who don’t like Bitcoin, haha. Of course, for me, just understanding Bitcoin is not enough. I think the rapid changes and constant innovation in this industry are very attractive to me, so I will be very willing to spend a lot of time and energy studying it. I will not invest large amounts of real money in various cryptocurrencies, new technologies, new applications, and many other currencies, but I will definitely keep an open mind to continue to research and learn, because I really don’t want to be like this again We missed the new opportunities this industry brought us back then. My Bitcoin holdings are probably around 70%.
Modular101 : As the first cryptocurrency, it should be the No. 1 in the minds of all Web3 practitioners. The position proportion accounts for 20%.
inpower Wang Jun : I prefer Ethereum, and I hold more positions in Ethereum.
4. This year, many new things have emerged in the Bitcoin ecosystem, such as Ordinals, which was in full swing some time ago. Please open your mind, what new things might appear on Bitcoin?
Haotian : Ordinals is just an appetizer of the Bitcoin ecosystem. Fair launch and FOMO gameplay can easily spread in the community and easily get people involved. But I think that the future derivative gameplay of Bitcoin will eventually explode in the direction of Taproot Assets. On the one hand, it is based on the Lightning Network and has a vertical landing scenario that is consistent with long-term value. On the other hand, it is similar to the multi-asset gameplay of ICO, and it gives too much With so much flexibility and freedom, you can basically find a foothold for all interesting innovations based on Taproot Assets. For example: issuing stable coins based on Taproot Assets to allow stable coins to circulate in real consumption scenarios, or issuing consumable coins in the game's dual-currency model so that they can be consumed in actual scenarios. With the popularity of Bitcoin Lightning Network wallets and the increase in the number of users, it has brought a lot of fresh blood to the industry. It is possible that the one who really leads the blockchain Mass Adoption is not AA on Ethereum, but the Bitcoin Lightning Network.
JZ Invest : I have a different opinion on this issue. I think the most important thing about the Bitcoin ecosystem is stability and security. Any new attempt will cause a certain degree of risk, and the current ecosystem on Bitcoin has already appeared in ETH or other ecosystems in the past.
In terms of flexibility, Bitcoin is definitely not suitable for developing the most innovative applications. I hope that Bitcoin can continue to play the role of gold in the currency circle and stabilize the entire cryptocurrency industry ecosystem, but of course I am also happy to see the safe and stable development of the Bitcoin ecosystem, but that is not what I expect.
Folius Ventures : I don’t know, there is relatively little attention. If you can use the security of Bitcoin as a Security Layer (like Eigenlayer but for BTC).
Spinach Spinach : Although the Ordinals developed by the Bitcoin ecosystem are an innovation, I think Bitcoin should just position itself as a "digital gold". Too much innovation may bring some unexpected things to Bitcoin. Impact.
Uncle Jian : This year’s Bitcoin ecology gives people a feeling of “Eight Immortals crossing the sea, each showing his magical powers”. Various protocols and projects emerge in an endless stream, and many new gadgets have emerged, such as Bitcoin NFT, BRC-20 and ARC-20 and other new bits Currency digital assets, domain name projects such as .sats and Realm, and virtual land projects such as Bitmap and Atommap.
As for what new things may come in the future, I think the swap of new Bitcoin-based digital assets and the asset interoperability with EVM chains such as Ethereum are worth imagining. Of course, the full-chain games on Bitcoin are also worth looking forward to. stuff.
Modular101 : What I am looking forward to is the future issuance of stablecoins such as USDT and USDC based on the Taproot Assets protocol, which can be directly integrated into the payment scenario of the Lightning Network, the vitality brought by more multi-assets based on the BTC ecological issuance and operation, and As more and more smart developers join, it will further lower the threshold for ecological participants.
inpower Wang Jun : Ordinals has not reached the issue price yet. Bitcoin is very cheap at the beginning, and the acquisition rules are open and transparent. Nowadays, all projects that release initial coins are in their own hands, which is far different from the realm of Bitcoin. If you want to innovate, go to the ether.
