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The development history of digital currency has changed from "blockchain revolution" to "Ponzi scheme" for several times

Time : 15/07/2021 Author : scrnzk Click : + -
        In 2013, bitcoin ushered in the moment of steep price rise from the beginning of the year to the end of the year. The upsurge of currency speculation brought a pattern of all-round rise, and capital from all parties swarmed in. No matter what industry they were engaged in, they all wanted to take a share in this booming field. In addition to the above-mentioned actions of Wu Jihan and Zhan ketuan to establish bitcoin mining company in mainland China and the Huobi and okcoin of Li Lin and Xu Mingxing in the trading market, the well-known people like Li Xiaolai, Bao Erye, Lao Mao, Zhao Dong and Prince Gong of tyranny have established a base in a small place by learning American style entrepreneurship, which is called "garage coffee", Angel investors involved in the blockchain revolution related to the coin circle in the later stage are also inseparable from this place. It can be said that it is the original base of the Chinese coin circle tycoons.
        Sequoia Capital, which is active in the investment market and always rushes to the forefront, has a special preference for giant land. At the same time, it also places bets on the latter, and Zhenge fund has won an angel round of investment in the hot currency in the trading market. Xu Mingxing also reaped a lot from investors' matchmaking. At the same time, he was favored by Cai Wensheng and Lin Jun, the founder of, as well as angel round capital injection by leading-edge venture capital institutions, which was no less than bitcoin and Huobi. But Buffett's famous theory that people are greedy and I fear that this investment feast has drawn a bad or even opposite result. The rush of many venture capital institutions and the high enthusiasm of a large number of speculators to break the threshold often indicate that the tide of wealth creation will come to an end.
        Sure enough, bitcoin began to leak all the way after hitting the peak in November. The initial correction curve made most people console themselves by saying that they were ready to consolidate. However, after that, the process of the waterfall falling and the shaking of the washing plate eroded everyone's fighting spirit. This was the first bear market since many people on the tuyere entered the circle, and the severity was no less than the landslide after the end of 2017. However, with the ups and downs of the market, these people at the upper level of the food chain gradually adapted to the ups and downs brought by the price fluctuations, summarized a set of market cycles through each bull bear conversion, and finally became one of the few IP in the currency circle. What they said and did in social media in the later period affected the market nerves.
        At the same time, the operation organization established as the pioneer of the industry has also cultivated top talents for the future digital currency industry, such as Zhao CHANGPENG, founder of the international head exchange coin an, and Yang Zuoxing, Shenma mining machinery. When people only pay attention to the price trend of bitcoin and the ancillary industry chain, vitalik buterin, a Russian teenager in the programming field, put forward the academic argument of adding virtual machines at the bottom of bitcoin, which is commonly referred to as the smart contract spread by the community. With the birth of this unique research direction, the R & D achievement is Ethereum. This talented young man who seems to be comparable to Nakamoto Cong, the originator of the crypto market, is affectionately called "V God" by Chinese people.
        Born in 1994, he is also a digital currency supporter. However, he disagrees with ordinary investors that bitcoin should not be limited to the field of digital cash payment, and the programming architecture should be a universal application platform. As the proposal to add an exclusive and innovative smart contract for bitcoin failed to get the recognition of the bitcoin consensus community, vitalik decided to set up a new portal, and Ethereum came into being, and the prestige of V God came. This set of independent programming design is obviously a successful example in the industry. Therefore, at the age of 19, he was surrounded by a group of admirers and set an identity definition for this group of people as "Ethereum co-founder".
        In January 2014, the team launched the Ethereum public chain at the North American bitcoin conference. In the following two years, V God knew the passion of Chinese people to participate in cryptocurrency and a series of investment industrial chains in China, so he went to China repeatedly to visit investment institutions in the field, in order to obtain financial support for technology deepening and market expansion. However, Chinese entrepreneurs have always been extremely wary of innovative "eating crabs and throwing money". It is not difficult to understand why the vast majority of excellent enterprises that are now popular in China and sweeping the world are favored by foreign investors in the initial embryonic stage. It is not until the development is mature and feasible that the state-owned forces catch up.
        Such values have encountered numerous setbacks in the financing journey of Bank of China of V God. Investors who still live in the circle and have achieved the head series have all missed the stage of participating in the growth of Ethereum. Looking back at the end of history, although there were regrets and tears in the past, the believers in the circle who worshipped bitcoin as the king at that time felt that Ethereum was a Ponzi scheme to fish in troubled waters. However, as an opportunity for all living beings to get on the bus again, the ICO boom of erc20 development system opened by Ethereum in the later period was firmly grasped by Chinese capitalists, and the heat wave was raised to the level of universal love by the regulatory authorities.
        After V God failed to raise funds in the capital occupied by the North exchange, he also went to the representative city of Shanghai in the south to seek funding from Shen Bo, the founder of bitshares. He was wise to know the talent. The latter expressed his passion for the vision of Ethereum described by V God. He not only took V God to the four sides to preach with his credit endorsement established in his circle, but also generously gave us $500000 in financial support when Ethereum encountered the survival crisis in 2015, This is also the most successful investment case of distributed capital founded by Shen Bo, with a return rate of 1500 times before and after. V God led the success of Ethereum and also played a prominent role for Wanxiang capital behind it.
        The threshold of domestic blockchain entrepreneurship has been lowered to an inclusive attitude that ordinary institutions can participate in. What ignites the wave of entrepreneurship in the digital currency field and the passion for participation of the whole people. The great era opened later will be presented to you in the next article. Please pay attention!.
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