Jeffrey Wernick 丨 COINS early investors

Throughout history, almost all currencies are to nationalization, this is hayek on the basic idea of "currency to nationalization", I believe, he will support the currency enthusiasm, let the market to determine currency,

1, the currency is money, and the chain of blocks is books,

I will put the COINS from the separated block chain, when I think of money, think of hayek; When I think of block chain, think of coase, the currency is money, and the chain of blocks is books, coase why existing problems, and puts forward the company and the nature of the company, in other words, why should we be in such a way to organize economic activity,

All activities related to the currency, no organization, no company, no job, only use their computers to dig, some are curious, some is for the sake of technology, some for philosophy, because some people believe that the value of it and is willing to contribute,

I bought COINS, early never sell a currency, also means that I have never used it, as gresham law says - bad money after bad money, bad money is used to spend, and the currency that best stored value method, is used to save,

No other stored value method can rapidly like COINS monetise, its settlement savings is much faster than any other value, you can't quickly selling art like COINS, stocks, bonds, house, car, or any other thing,

COINS since birth, has been the best store of value, it is money the best attributes, rather than money, than the accumulation of wealth, I wish I could be a little more currency holder, a little less currency traders,

2, ETH become garbage currency economic reserve currency

Those who say the currency block chain is 1.0, the etheric fang is 2.0, EOS is 3.0, I think is very "idiot", comparing the currency, the value of the ETH is bad savings and means of payment,

Because ICO, ETH became the garbage currency reserve currency, I once again and again insisted that waste money bubble will burst, and ETH will collapse, but as the new waste money economy, the emergence of the decentralized financial (DeFi), reborn and ETH,

And ETH, the currency evolution is naturally occurring, for latecomers, the challenge is they need to be like this astute in thinking, how in the case of no access to capital markets to expand,

In the beginning, as the prerequisite of the initial design, will be truly without permission for the government, but also put an end to vulnerability, once you start to raise funds from the public, means you need to get permission, so the vulnerability also follow here,

Many people don't pay attention to this point, the technology may be without permission, but the operating technology requires permission, almost everyone is suffering from this design attributes, I think this is a serious defect,

Counterfeit currency is fragile waste money, because of the influence of ICO, practical model through the design in order to raise funds, but this should not have been practical pass card, monetization, it should be a kind of technology, it is good to do it yourself,

Prosperity can lead to depression, ICO is cheap money, it first created the prosperity, the next is the depression -- - so much bad investments to encrypt economic damage,

3, I think the EOS worthless

Remember in 2018, some people post, blow the EOS lip, EOS marketing do very beautiful, the story is very attractive, in a certain period of time, will lead to a reasonable investment, but I think is worthless,

Paid the fine then, EOS, and admitted his almost is a liar, as I expected, BM for another project at the same time, the firm up the case on the failure of the EOS governance structure, in the field of chain blocks, someone want to disruptive change and influence the world, but for the EOS, they pay more attention to how to value assets, and then put his hand to liquidate assets,

For a block chain project, the first is to make effective the underlying protocol, and then put it in an open environment continue to market test, to ensure its safety performance and so on, only when the underlying protocol can smoothly run several years, and there is no significant security vulnerabilities and accident occurs, to determine that there is enough vitality, which is not only a large number of marketing, coaxing for don't know who to sell into the technology,

The current block chain platform development is designed by the programmer, they think they can think of the hacker's attack means, make the platform looks no loophole, but in fact, there are a lot of security vulnerabilities are they imagined, because of the hacker's thinking mode is not the same as the thinking mode of programmers fully,

EOS vulnerability is due to two parts: on the one hand, EOS using the structure of super node, the possibility of the process is full of all kinds of corruption, it is design and development staff at first I didn't think; Its system structure, on the other hand, is not strong enough, can only to a certain extent, meet the designed capacity, so there is no enough ability to deal with security attacks,

4, distributed platforms will be the future development of paradigm

Like reality and Uber, in fact ecological interests of the parties is conflicting, game, successful companies means the ability to squeeze their own staff and service suppliers, reduce their income, in order to gain more returns, in this traditional framework, means that the system is highly centralized, highly monopoly, the owner of the platform can get all the rights and interests,

In this system, block chain can bring what kind of change?

Block chain is to break the deadlock, distributed through the network to play a great role, let people from the previous exploitation type relationship into a Shared ownership relations, let the creator can also share value, sharing value is not simply to share cash flow, but common to create value,

This to create and share value by distributed platform will be the future development of paradigm, can the enterprise system will be odd jobs into economic sector of the economy,

Distributed books can provide individuals with self-organizing ability, and embedded in the consensus and governance through agreement to determine the value distribution, at the same time as the input for pricing in the process of production, as average get more bargaining power, the distribution of the POW will be more valuable, and POS will become less important,

5, Wall Street is the slave of the debt

Distributed platforms is very important for the liquidity, and now some tokens do trading platform is the main task of the ICO to raise money (issued tokens), but its fluidity is very poor, also lack the necessary marketmakers,

The traditional business model, Wall Street will have a market-maker to provide liquidity, if necessary, governments and central Banks will also inject extra liquidity in great quantities, such as the stock market crash, there will be additional liquidity inflows, make the function of the market can keep find value,

But so far, in addition to currency and etheric COINS, tokens, basically all other lack market-maker mechanism, exchange also lack of liquidity, currently trading in the secondary market, the actual is very weak, the volume is very low, and the price is easy to be manipulated,

Wall Street's valuation model is from the discounted cash flow (DCF model into play with concepts to obtain high valuations, tesla is a typical example,

Because Wall Street doesn't like COINS, COINS in on Wall Street, on the contrary, both in philosophy is the opposite, Wall Street's control, control of the so-called "trusted third party", they have false disclosure and books, they want money, let it become a kind of concentrated wealth and power tools, they erected myriad barriers,

Wall Street is the slave of the debt, they are in a dishonest money transactions, but the currency is free, COINS and gold, is real money,

6, people put forward high request to block chain

Centralized and decentralized, and a huge conflict between a lot of chain block is more of in order to achieve more centralized, but I support is decentralized, immutable currency, immutable books, encrypted communication, data sovereignty, and no longer need the credit of the third party or the company's internal economic activities - this is a real trust revolution,

Now common problems are put forward high request to block chain, far beyond the first chain block design,

Chain block provides a distributed books, is the nature of the deal for recording tool that amounts to a transaction database, but now people put forward more requirements for it, to manage the database, to optimize its structure, behind these chain design beyond the blocks, and the confusion of understanding of it,

In my planning of the card in the vision, intelligent contract will play a role in the economy, but the role of the intelligent contract is not very big, everybody's common mistake is to confuse the utility of this project, and linked with the price of access card, its value should be linked to the card, rather than its utility,

So, to fully solve the safety problems associated with block chain, can't block chain itself alone, but walk to the block outside the chain, find the other tools, establish a complete ecological security,

7, Google will not defeat the COINS!

I satisfied with the decentralization of the currency, because of dual consumption and the motives of counterfeit COINS is very low, there are a lot of value and distribution to prevent this problem,

In September 2019, Google announced that they had made a "quantum hegemony", quantum computing opportunity blow to the COINS? Google will not defeat the COINS! COINS represent the world's most powerful supercomputers, and is becoming more and more powerful, more and more security, my money will be in the currency,

I'm glad I know the COINS, but I don't need to know who is in the hearing,

For me, the philosophy of the COINS is - in the hearing it doesn't matter (identity), the currency is self-evident, it's a reminder that the identity of the creator was seriously overrated, its properties are undervalued, attribute is the most important, identity are supposed to be irrelevant,

Due to the currency of the governance structure is the anarchist - there is no better word to describe this sort of attribute, the currency is still the immutable, but I am satisfied that any party is unlikely to make its devaluation or forgery, I hope the purse can increase the number of privacy features can be improved,