Tricks should not be played for long. "Formula News" wanted to capture the announcement of the new security coin as soon as possible like last time, but ended up being buried on the spot.
New Coin People's Daily First Issue: The State of the World and MicroStrategy
November 22, 2024, The First Issue of New Coin People's Daily.
Previously I wrote several hundred issues of Coin People's Daily, and now I am starting a new Coin People's Daily, planning to write 100 issues to completely stop, to commemorate this bull market.
Today I saw a piece written by Mindao on Twitter about MicroStrategy, which I think is a great popular science article, so I decided to move it here for everyone to see.
Part One: The State of the World, What Is the Current Situation — Nangong Yuan
1. Trump came to power, openly supporting Bitcoin and other cryptocurrencies; the richest man, Musk, allied with Trump, bringing Dogecoin in a strong assault.
2. Bitcoin mining and production of Bitcoin mining machines, once controlled by China, have decentralized globally under government crackdowns.
How to understand that much is less, and less is much. I have a friend who spent 400,000 yuan when Bitcoin was 400 yuan each, buying 1,000 of them. In 2013, when Bitcoin rose to 8,000 yuan each, he didn't sell because he felt that 8 million yuan wouldn't solve the problem. In 2017, when Bitcoin was 20,000 yuan each, he sold all of it and enjoyed life, believing that the problems in life had been finally solved. And you, with only one Bitcoin, many years later, when Bitcoin rose to 20 million yuan each, sold it.
I played meme for a few days, but I didn't make any money. I spent time and gained experience. First, you have to buy the leader, otherwise you will become a pig head; Second, when ordinary people know a coin, they have actually missed the best time to enter the market; Third, the bull market is a carnival for shippers. Fourth, luck is very important. I was very lucky. I encountered good coins as soon as I entered the market, rif and scihub. rif is the well-deserved leader of technology meme and is very stable. I didn't enter scihub early, but at that time everyone was scared by the 20% of big players and dared not enter the market, so the price I entered was okay. So, the main reason why I didn't lose money was good luck. Those who were unlucky were cut on the spot. Fifth, it is not a good thing to make a lot of money when you enter the casino. Because I was lucky, I encountered a big rise as soon as I entered the market, which once caused my Tao heart to be unstable, and I was ready to charge money to do a big job. It was the lesson of 519 that calmed me down. Otherwise, I might have all-in at the high point later, and then my mentality collapsed and I lost a lot of money. Sixth, it is important to know yourself. I am not suitable for short-term trading, which affects my sleep and mental state. I am suitable for long-term trading, which makes me sleep well.
$Scihub is definitely the most story-telling and controversial meme. I have been following it for a long time and have been watching the fun in the group. The 200 million holdings are a flaw, but also a source of controversy; the donation is not handled properly, it is better to donate half and burn the other half. The remaining 100 million donated over 9 months will either be buried or ascend to heaven. This may be a more imaginative story than PEOPLE.
Sometimes being late to the party can help you avoid disaster. FCOIN was so popular back then, I was busy writing the daily news for coin traders, and before I had a chance to experience it, it went bankrupt. This time DEXX was also very popular, but I just found out about it not long ago, and before I had a chance to recharge, something went wrong again.
How much money was stolen from DEXX this time? I saw someone say $100 million was stolen, it doesn't seem like that much, a few million dollars at best. Are meme players that rich?
Possible positives in the future: The United States reserves BTC; The United States issues RWA assets on ETH; ETF's ETH is used as collateral; Other currencies launch ETFs; US consortium acquires large exchanges; ICO-like functions receive government support. ——Oh my god, we have to look at the Americans' faces anyway.
Let's sort out the current logic. Bitcoin has risen, whether it is the halving surge, the benefits brought by Trump, or the injection of funds from over-the-counter ETFs, it has risen anyway. Dogecoin has risen, Musk has won, it is said that he holds 30% of Dogecoin, and now he has established a government efficiency department (doge), so it has to rise. These two products have risen, driving memes to rise. Because memes are most like these two products, or these two products are most like memes. Others are queuing up slowly, they haven't had fun yet. Recently, Xiao V has been scolded, OK and BN are also being scolded, and other project parties are also being scolded. There is no way, the wind hasn't blown yet, you can't force it. Once you force it, you will change your position to BTC, what the hell.
How do students who hold Bitcoin and other currencies adjust their mentality? Seeing other currencies depreciate relatively, and the amount of Bitcoin that can be exchanged is getting less and less, won’t your mentality explode? Are you sleeping well?
Many times, people can only make the right choice when they are extremely sad. I have a friend who was in great pain after his loan was liquidated, so he liquidated all the currencies and exchanged them for BTC, ETH and BNB. BTC and ETH were directly stored in cold wallets, and BNB was stored in exchanges. Looking back now, I was not sad enough at the time. If I was sad enough to only exchange it for BTC and store it in a cold wallet, I would sleep better and earn more.
I haven't been sleeping well lately, and my temper hasn't been great either. The main reason is that I've seen many people making money, and the secondary reason is that the overall cryptocurrency prices have risen quite a bit.
Why should we hold exchange tokens like BNB? It seems that the significance of holding them is not very great at the moment. BNB occasionally offers new token dividends, but when the bull market comes, it's just a drop in the bucket. Fee burns? I calculated before that for BNB to completely burn the portion held by the team, it would take until 2026, by which time the bull market might be gone. So, why should we hold them?