Review: Why did we choose to heavily position ckb at 0.0041?

Let’s talk about the mental journey first, and then the conclusion. Friends who are familiar with us all know that the Bitcoin ecosystem has always been the ecosystem that Brother Xiao is most proud of. Because we may be the first community on Twitter to make dao members pay attention to ordi. At the same time, we were also the first to mention the view that "the first person to benefit from the rise of Bitcoin is the Bitcoin ecology". ordi allows dao members to earn a lot. From 5u, 10u and even 40u, we have allowed dao members to keep adding positions. When ordi was first listed on Binance and the price was 9.6u, Brother Xiao even posted a post on Twitter to prove that there is at least 3-5 times the space behind it. , you can review Brother Xiao’s tweets and look back at the highlighted tweets.

After the rational return of the Inscription track, our second focus is on the Bitcoin layer 2 track. We have determined that the btc l2 track will be very popular in the future and there will be very good opportunities. However, due to the slow development of Bitcoin L2 technology, the targets of speculation are all based on the narrative of Ethereum L2, and most of them are castles in the air.

Currently, several BTC L2 projects that are popular in the market due to the issuance of inscriptions have investment valuations of US$4 to 5 billion in the primary market. We are very troubled when choosing targets in the secondary market. So much so that we searched for a full month and still couldn't find the ideal target.

Until I saw the ckb option. The first time we paid attention to ckb was around ckb0.003, and we saw the ama of the founder of ckb, which talked about his understanding of Bitcoin and ckb's utxo model. We found that the ckb team is completely different from other teams. Because the ckb team's understanding of the BTC ecology and persistence in POW UTXO are something that other current BTC L2s do not have. At the same time, the market value of ckb at that time was only about 200 million. But we didn't rush into action. Because I looked back at ckb's K-line, it really was lying on the ground for 5 years. If you rush in rashly, you are likely to stay on the ground without moving for a long time.

It wasn't until we discovered the changes in the ckbk line on January 30, and another article about ckb considering the transition to btc l2 and doing btckb and other things, that we concluded that ckb would be completely different this time. Because ckb’s technology and understanding of Bitcoin are fault-level and crush others. More than 200 million fdv is really underestimated for such a target.

During this period, many people advised us not to buy ckb. For example, the team focused too much on technology and ignored price factors. But we resolutely bought ckb. As a result, after about 13 days, it started to explode on the day when China welcomed the God of Wealth, and it tripled in 2 days.

The above is our journey of buying ckb.

So how do we judge that ckb is definitely worth buying?

The essence is 2 points:

1. Our judgment on the Bitcoin ecology is the engine of this bull market. A track of this level cannot be sustained by mere hype without technology implementation, so the development of Bitcoin L2 must be accompanied by technology implementation. At the same time, the Bitcoin ecosystem’s requirements for legitimacy are unmatched by other ecologies. The narrative of pow+utxo is at least more orthodox in narrative than more than 99% of projects on the market. The advantages of technological fault level + orthodox narrative are the core of our optimism about its fundamentals.

2. Initiate judgment on the K-line level of the secondary market. Here comes Brother Xiao’s best technique, which is to buy low on the pullback of strong hot projects.

In the end, combined with accurate judgments at the fundamental and K-line levels, we were right to choose ckb. In the btc ecosystem, we currently only have two major positions: ordi and ckb. We will continue to be optimistic about the Bitcoin ecosystem in the future and will continue to explore the next Ordi.