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Bi'An unexpectedly announced its entry into the "trading mining exchange" and the war was imminent

Time : 16/10/2021 Author : 5pqbga Click : + -
        The next night, Bi'An unexpectedly announced that it was involved in "trading and mining". It seems that the "exchange war" broke out suddenly in the currency circle in a short month. In fact, history has long told us the script, but the evolution speed may be ten times or even 100 times. Moreover, the role played by Bi'An this time is by no means as simple as that of a vassal who is eager to encircle the territory and separate the territory. In fact, at the beginning of his birth, Bi'An was ready to "change his life", but before he retired, there were still some things he had to do. However, what is the specific number? The exchanges that had been enjoying the warmth of the newspaper group a few years ago are also destined to enter the scuffle mode this year. Although viewed on a larger scale, this scuffle is only a small wave in the wave of decentralized revolution.
 
        I wonder if you have noticed that in his white paper on the establishment of Bi'An in July 2017, he clearly stated that the ultimate goal of Bi'An is to establish a decentralized exchange (DEX). In the spring of this year, he set the primary strategic goal of Binan as to launch the prototype of DEX by the summer of this year. At the same time, many platforms are still making efforts in leverage trading and legal currency trading to earn more service fees. At the peak of the fortune of Binan, instead of taking advantage of the situation to expand wildly, Binan took the initiative to withdraw from the domestic market and put resources into the development of DEX. It should be noted that the handling fee of DEX can be as low as 0, which is "ruining one's life" by throwing money.
 
        Moreover, since the DEX platform can no longer control the user's assets, the possibility of subsequent asset management business is cut off. For example, domestic futures companies, due to fierce competition, the majority of the income is not the handling fee, but the interest earned by the customer's deposit in the custody bank!. However, the loud noise of "trading mining" mode, and the exchange represented by fcoin expanded to the total trading volume of the world's top seven exchanges overnight, seemed to panic the old platforms. Zhao CHANGPENG, who has always been taboo to comment on his peers, not only sent a series of microblogs, but also criticized such platforms vehemently. The normally cautious Bi'An also launched an exaggerated "transaction mining" partnership mechanism last night.
 
        In such a hurry, even the description of the mechanism completely copied the "open win-win plan" just launched by okex3 three days ago, but changed the dividend ratio and the number of cooperation platforms:. As a result, after we pushed the announcement of Bi'An, some netizens left a message at the first time asking: is it a small mistake to send the OK announcement to the article of Bi'An?. In fact, after reading Zhao CHANGPENG's microblog and He Yi's explanations in many blockchain groups, many people came to their senses. The original purpose of Binan's move was not to enclose land, but to try to quickly squeeze out the foam of the exchange and return the industry to stable development. If you simply want to cut a wave of leeks or circle a wave of "flow bonus", Binan is fully capable of designing a more refined and hidden dividend system, instead of copying okex like yesterday's announcement, even without changing the wording.
 
        However, the actual situation is that "transaction mining" does not really benefit users. Instead, it uses its own air currency to exchange the BTC and eth of "real gold and silver" in the hands of users. For example, the most famous "mining trading" platform, fcoin, actually has a handling fee of 16 per 10000, while the actual handling fee of mature large platforms is 5-3 per 10000, which is equivalent to the handling fee of A-share trading that has been operating for more than 20 years. In fact, fcion is just the vanguard of the "trading mining" army. Recently, two exchanges 86bex and cattleex adopting this mode have successively closed down, and more than 100 exchanges preparing to adopt this mode are pouring in. Knowing that this mode is difficult to sustain, they are all vowing to turn the already fragile market upside down.
 
        However, many people still don't understand the "transaction mining". The core lies in the mechanism of order brushing superimposed invitation rebate (for example, 20%), which allows the order brushing to buy the coins issued by the platform with BTC at a price of 8.3%. At present, these platform coins can receive dividends of real gold and platinum!. However, this mechanism is very obvious. It needs to be supported by a steady flow of new funds. Otherwise, the platform currency you bought with real money and silver in the later period will fall rapidly because of the increase in the cash market, until it can not cover the discount of the initial purchase. At this time, the mining behavior will have no economic value. At the same time, the dividend will also fall due to the decrease in the number of orders, and the market will enter a negative feedback "death vortex".
 
        This is why ft set up a "stabilization fund" to stabilize the currency price in less than a month, because under this mode, market value management is the core of the platform's survival. Of course, this does not mean that people who participate in MMM cannot make money. In fact, people who participate in early and withdraw in time can make money. Therefore, it is not surprising that the "trading mining" platform has won a large number of followers in a short time. Like those who participate in mmm, one day real people think that this is mutual help and mutual benefit, and some people understand it but think they are smarter than others and can go one step ahead. After all, this game of beating drums and passing flowers has lasted for more than 20 years and has been banned repeatedly in various countries. It may have attracted 200 million people worldwide.
 
        Incidentally, mavrodi, the founder of mmm, passed away in March this year. Two years before his death, he was keenly aware that this mode could be combined with bitcoin and created a so-called "MMM coin" to bypass the regulation and cheat users of bitcoin. In July last year, crimerussia, a Russian website specializing in crime news, quoted anonymous sources as saying that mavrodi had accumulated about 200000-300000 bitcoins in his personal account. Crimerussia gave the MLM master another title of "king of cryptocurrency". If mavrodi is still alive and sees today's "trading mining", will he beat his chest and feet: "there are still people smarter than me!".
 
        Although this mode has taken advantage of the regulatory loopholes for a company from a commercial perspective, it is understandable. However, from the perspective of industry and society, it does not produce any real value. In the end, it may end up with a feather on the ground, which will weaken the confidence of retail investors and make the regulatory authorities more forcefully control the blockchain industry at the babbling stage. For a decentralized revolution that has just started, we can refer to Sun Yat Sen's 1912 takeover of the Republic of China, which wanted money but no money and no army. It not only had to show weakness to foreign powers everywhere, but also could not offend major warlords at home. Didi kuaidi did not directly say to challenge the taxi company at the beginning of its establishment, including up to now. We are here to solve the problem of "taxi is difficult and expensive". In fact, the two are now living in harmony, increasing employment, improving taxi operation efficiency, and ultimately greatly improving the travel quality of citizens.
 
        Most of the decentralized believers do not seek to subvert anyone, but try to explore a fairer and more efficient mechanism. This is essentially different from the fact that the majority of peasant revolutionaries subverted the old regime only in order to establish a new feudal regime. Although he is an early investor of Uber and airbnb, he does not think that the model of these two companies is really a "sharing economy". Although the taxi driver receives the fare and the user sits in the car, which seems fair, the driver and the passenger share less than one cent of Uber's market value of more than $60 billion, and the money goes into the pockets of the founders and Wall Street tycoons. In fact, we can use blockchain technology and decentralized governance to try to make the relationship between producers and capitalists more balanced.
 
        There were also a series of chaotic battles, such as the eight kings' rebellion and the an Shi rebellion, until the demise of the feudal system more than 100 years ago and the separation of the Northern Warlords. It can be clearly seen that almost every critical social turn is accompanied by a period of chaos. During this period, everything was out of order. Everyone fought for resources and rights by all means. Father and son could still fight each other, and the way of monarch and minister was often gone. The fundamental reason is that when the production system does not match the productive forces, and when the centralized exploitation exceeds the bottom line of the people's tolerance, changes will occur. Based on currency devaluation and dissatisfaction with traditional capitalists seizing excess workers' surplus value, the concept of cryptocurrency and decentralization began to sweep the world and become more and more intense, marked by the birth of bitcoin in 2009. This is actually a "revolution" initiated by a group of geeks against monopoly groups.
 
        We do not predict whether this revolution will eventually lead to a new financial and community governance model that can be widely used. However, it must be admitted that this revolution has already taken place with the participation of 40 million people. For example, although Chen Sheng and Wu Guang believe that "it is better for princes and generals to have seed", ordinary people who go to war may only "have a bite to eat". Therefore, the revolution of "cryptopunks" has just begun, but the vast majority of people are not so dissatisfied with the government and the central bank. They have jobs and families, and they can live a decent life. How can we attract these people to create momentum for the decentralized revolution?. Just like the first big guys preaching bitcoin in China, even if they are strong believers in blockchain and cryptocurrency, they have to repeatedly emphasize "this thing can make money!" when preaching.
 
        This is a very famous screenshot in the coin Circle & mdash& mdash; Chang Jia, the founder of China's largest digital currency forum, a former science fiction writer, a firm believer in blockchain, and an idealist who never cares about the market value of BTM he developed, has been running around in Zhihu around 2011, calling on everyone to invest in bitcoin. This can also be confirmed from the 1911 Revolution at the end of the Qing Dynasty. For example, the famous Jiangsu governor Cheng Dequan's "tile picking revolution" & mdash& mdash; In 1911, he pretended to lament that he was "helpless" in the face of the revolutionary army that "forced him to oppose" him, so he agreed with the revolution! So he changed his mind and declared independence. He was appointed as the "governor of the Jiangsu governor's office of the military government of the Republic of China". But the revolution had to be destroyed. So he let people poke off several tiles on the governor's Yamen with a bamboo pole to show that "the revolution must be destroyed".
 
        To return to the coin circle and attract profit seeking capital and unknown retail investors to join, it is also a necessary work for blockchain technology supporters or believers in decentralized governance mechanism, which can be described as "bringing leeks to make trust". According to the surveys of national regulators and the public data of some exchanges, there are at least 40 million people in the world who have participated in the trading of digital currencies, not counting the number of pure "chain" developers. This is not true. The above statistics from google trends show that even Friedrich middot, the once unpopular preacher of the theory of "currency denationalization"; Hayek's search popularity also soared with the price of bitcoin at the beginning of this year.
 
        In fact, whether it is Xu Mingxing of okex, Li Lin of Huobi, or Zhang Jian of fcoin, they have publicly expressed their belief that blockchain can improve efficiency and improve human welfare. Zhang Jian of fcoin is also an old man in the coin circle. It is estimated that he has long anticipated the limitations of the "transaction mining" model. However, in the face of many exchanges, it is not surprising that the breakthrough mode he thought of from the commercial perspective is to attract traffic first, and then the strategic probability will be gradually adjusted. Just like the subsidy war of didi Kuai in those years, it is difficult to sustain: it is difficult for traders to continuously reap more than the commission fees they paid. However, what we can't resist is the test of MMM mode on human nature. If all kinds of unscrupulous speculators enter the currency circle one after another and harvest leeks one after another, the confidence of the whole industry will collapse, and even the platforms that "landed" first will be cool.
 
        This is a typical "prisoner's dilemma" game. When there is no mutual information, the rational choice of the prisoners must be betrayal, and they cannot hand over the power of life and death to the other side, resulting in an infinite approach to the worst solution. (those interested can search for relevant explanations by themselves and will not be described again). Because in the tide of blockchain or decentralized production relations reform, the speculative content brought by the trading platform is only the initial battlefield, and there are still many problems to be overcome in a mild environment. In the spring and Autumn period and the Warring States period, hundreds of vassal states were born successively, but such a turbulent time was the peak of the Chinese nation's thinking. The Chinese civilization in the following 2000 years, including Confucius, Mencius, Laozi, Zhuangzi, Confucianism, Taoism, and Mohism, can be said to be the interpretation and extension of various schools of thought.
 
        Another example is the period of the Northern Warlords in the late Qing Dynasty, or around the first World War, which gave birth to a generation of masters. Marx, Hugo, Picasso, Edison, Tesla, Liang Qichao, Tagore... If you can write it all the time, I believe the name alone can support a Book.
 
        
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