On January 28, 2021, Hao Tian, ​​former partner of the blockchain security company PeckShield, the founder of Qingge, and the manager of Chain View, gave a speech to the new Ali students who joined the community in the password geek live broadcast room. The theme is "More than just coins, re-understand Bitcoin and blockchain".

secondary title

my circle story

Hello everyone, my name is Hao Tian. As an old friend of crypto geeks, I am very glad to have the opportunity to share with you the adventures of the currency circle in the past few years and give some reference suggestions to friends who are new to the circle.

This year is my third year in the blockchain industry. I am not an old leek in the currency circle, but I am very fortunate to have experienced a complete bull-bear conversion, and I can gain a more comprehensive insight into the fundamentals of this industry. Because of this, It is my honor to be able to systematically talk to you here about what the blockchain industry looks like in my eyes.

In the past two years, I worked as a brand partner of PeckShield, a leading blockchain security company in the industry. The company's main business is security auditing. The main clients served include MakerDAO, AAVE, imToken, SushiSwap, Harmoney and other industry leading districts. Blockchain public chain and DeFi projects. These projects are currently the top projects in the industry, and the market value has also risen very rapidly in the past six months.

I have been working as a security company for more than two years, and the biggest gain is: I have a thorough knowledge and understanding of the entire industry.

Because we often joke that being a security company is from the perspective of God, and we can see the things behind many projects through the code. For example, what is the technical level of the team, how innovative is the code itself, is there a hidden backdoor behind the code, is the team working hard, and so on.

Because of this, many investors regard whether a project has been audited by a professional security company as their participation threshold.

It is precisely because of the security company's "eyes in the sky" background - not long ago, I established the Qingge brand. A paid knowledge community dedicated to the new trends of the digital economy. Including artificial intelligence, blockchain, Internet of Things and other technology science popularization and cognitive discussion of several frontier fields.

Our platform will provide various interactive tools such as knowledge quizzes, paid classrooms, and online live broadcasts to help ordinary users enter the blockchain industry "smoothly" and understand the opportunities and pitfalls of the blockchain industry. Armed with knowledge and a mature investment mentality to participate in blockchain industry investment or start a business. At present, the product is still in the early stage of preparation, and it will be launched in the next year, so stay tuned.

I personally wrote a WeChat public account called Chain View (WeChat ID: liansg01) in my spare time. I will do some cognitive evangelism and some hot interpretations on the development trend and market situation of the blockchain industry. The cognitive surplus of the blockchain industry for many years.

I am also a person who likes to make friends through literature. Interested friends can watch and pay attention on the WeChat public platform search chain.

After talking about these official introductions, everyone is definitely not happy. Presumably everyone must want to know whether I have made money or been cut off in the past few years in the currency circle.

In fact, most people who think this way must be newcomers in the new circle, because most old leeks would not ask such questions.

secondary title

How long is this bull market going to last?

In fact, it is difficult to find a reasonable standard when talking about bull and bear markets. Whether it is a bull or a bear, it often takes a long time span and cycle to make an evaluation.

As early as 2018, when the bulls turned into bears, every time they bottomed out and rebounded, there would always be voices saying that the bulls hadn’t left yet;

And now that we are in the critical period of turning bears into bulls, every time there is a pullback, there are always voices saying that the bulls have run away.

You see, if you look at bulls and bears purely based on market prices, you will be slapped in the face when you look back.

What should a real bull market look like?

Take the super bull market driven by ICO in 2017 as an example. In that round of bull market, Bitcoin rose to 20,000 dollars, and Ethereum also rushed to 1,400 dollars. It is the turbulent market sentiment, such as the sleepless group at three o'clock, the madness of the currency circle in one day and one year in the world, the stories of grassroots counterattacks happening all the time, and the stories of starting a business with a white paper and so on.

When talent, capital, traffic, and resources all pour into this industry, it is a real bull market.

Judging by this standard, although both Bitcoin and Ethereum have broken their previous highs, the truly magnificent and magnificent bull market is still on the way. We are still in the early days of this super bull market.

Because the market sentiment in this round of bull market has not yet reached its peak.

The factors driving this round of bull market, I think there are two main points:

1. The global political and economic situation is unstable, the currency is over-issued, the institutional allocation of capital inflows, and the huge purchasing power generated in the short term. Drive the bull market like a big brother;

2. Driven by the Ethereum DeFi ecology, DeFi is copying a series of infrastructure in the field of traditional financial institutions, such as banking, securities, insurance, derivatives and other fields, into the blockchain industry, giving the blockchain industry an imagination space Great landing scene.

But the promotion of these two points is not enough. On the one hand, the main purchasing power of Grayscale is not enough to continue to resist the selling pressure of the market for short-term profits;

On the other hand, DeFi technology is still immature and still needs a long time to develop.

So this is doomed, this bull market must be a super slow bull, and there may be many panic-stricken bulls turning around in the middle. Because market sentiment still needs to ferment slowly, it is necessary to pave the way for institutional incremental funds to enter the market, and to leave room for the DeFi ecosystem to develop for a long time.

When is the real sign of the arrival of the bull market? I think there are three key indicators:

1. The market capitalization of Ethereum exceeds that of Bitcoin.

Because the function of Bitcoin value storage is fundamentally different from the function of Ethereum's global supercomputer, believing that Bitcoin will create brilliance may be a belief in the decentralized world, but believing that Ethereum can change the world is our generation's participation Greater significance for the blockchain industry;

2. Mainstream Ethereum mainstream DeFi tokens such as AAVE, UNI, SNX occupy the top ten positions in market value, and there will be DeFi tokens in the Polkadot ecosystem rising to occupy this rank in the future;

3. With the start of a wave of blockchain industrialization and entrepreneurship, under the leadership of the national team, talents, resources, capital, and large Internet companies in the mainstream market will all enter the blockchain track, and use alliance chains or public chains in the field of people's livelihood Find valuable landing application scenarios one by one.

All in all, I think this bull market will last at least 2 years.

secondary title

Beginner's Guide

There are many legendary stories about novice users entering the currency circle. I will list a few examples here: Some users may have caught up with the big bull market when they first came in, and soon made several times or even dozens of times of money, and then felt that they Floating away, I thought I was very capable, but was fooled into investing in a certain altcoin, and soon lost all the money I made, and even lost the principal;

Some users may be unlucky and caught up with the bear market just after they came in, and made a bold investment, but soon realized the dangers of the currency market;

There are also aunts and aunts who are CXed by people around them to invest in blockchain financial management. Looking at their relatives and friends, they have a large amount of income withdrawn from their investments every day. Passbook, ready to break through the traditional and conservative thinking habits, but don’t want to find out that the server is closed and the exchange suspends cash withdrawal after investing in it.

Some friends also heard that DeFi makes money, so they participated in liquidity mining, but they didn’t know that when others made money, it was the beginning of the project’s decline. After entering it, they found that they were losing money every day. There are countless such tragic examples in the currency circle.

All in all, there may be thousands of postures that Xiaobai enters the currency circle, but one thing remains unchanged, the money earned by luck will one day be lost by "strength".

So what should Xiaobai pay attention to when entering the blockchain industry?

1. Improvement of knowledge and cognition.

This is the most basic threshold for Xiaobai to enter the blockchain. At least understand what the concept of blockchain is, what is Bitcoin, what is the difference between Bitcoin and Ethereum, what is asymmetric encryption, what are the consensus mechanisms of POW and POS, what is the private key, and the principle of mining is What. What is the longest chain consensus of Satoshi Nakamoto? Only by being familiar with the most basic basic knowledge can one have a basic understanding of the blockchain industry. In this way, no matter whether you are involved in entrepreneurship or investment, you must at least have basic common sense, so that you won't hit a wall miserably.

2. Basic security awareness.

For example, how to protect the private key, how to choose a safe wallet to store digital assets, what kind of exchanges are reliable, and what kind of projects cannot participate. For example, someone tells you that he uses a smart brick-moving robot to move bricks between different exchanges, and the daily rate of return can reach 100%. He shelters you from the wind and rain. Another example is that someone in a certain group posted that today is Satoshi Nakamoto’s birthday, transfer 0.1 bitcoins to a certain address, and after awakening Satoshi Nakamoto, Satoshi Nakamoto will return you 10 bitcoins; How is basic common sense possible? Although these are jokes, they reflect the current situation. The security awareness and cognitive common sense of ordinary users are really weak.

3. Investment should not be rushed.

In my opinion, novice users should enter the currency circle with the same posture as devils entering the village. They should be the first to sweep mines, machine guns, tanks and other heavy weapons behind them, always observe the situation around them, and be ready to attack at any time.

To put it simply, it is necessary to invest conservatively, such as investing in Bitcoin and Ethereum at the initial stage of investment, and invest in DeFi if you don’t just listen to others saying that DeFi makes money;

For another example, when choosing an exchange in the early stage, we choose mainstream exchanges such as Huobi, OK, Binance, Coinbase, etc. These exchanges are reliable in terms of security and brand reputation. On this basis, go slowly to get in touch with the DeFi industry, and find some suitable projects on Uniswap to do DeFi liquidity mining;

Novice users must not invest in copycats and play contracts when they come up, otherwise there is a high probability that they will be eliminated by zero.

4. Trust common sense.

secondary title

Besides speculating on coins, what are the entrepreneurial opportunities in the blockchain industry?

Many people's understanding of the blockchain industry is speculation, which is actually a ridiculous thing. In my opinion, there are still many opportunities in the blockchain industry besides currency speculation. I have also written several articles in the public account of Chain View, one is why the blockchain industry will usher in a wave of entrepreneurship, and the other is why young people can choose the blockchain industry.

There are some points mentioned in it, I can roughly summarize:

1. The blockchain industry is a brand-new track, and the track is very broad. Many industries in the traditional financial field may be replicated in the blockchain industry, such as banking, securities, insurance, etc.

You can’t say that you start a business and start a China Life Insurance company, but if you know a little bit of code, you can be an insurance company in the DeFi field.

There are many new opportunities in this industry, which means that the content in various fields of the traditional track can be copied again. This is an advantage that we can't imagine in the traditional field.

2. The blockchain industry market is globalized and has no national boundaries. Traditional industries will encounter great national barriers when they go global, and a good solution can be found through the blockchain. Moreover, the global market is supported by global talents, capital, communities, products, etc., which will inject huge resources into product development.

3. Blockchain finance, that is, DeFi, is a composable track. We all call it Lego blocks, which means that the threshold for entrepreneurship in the DeFi field is extremely low, and the threshold for a DeFi protocol to be compatible with other products is also extremely low. We mortgage some ETH in the MakerDAO bank, and exchange DAI to another Compound bank to earn interest. Users in the entire DeFi market are basically shared. Those who are skilled in technology don't even need to consider market and operational issues, they can borrow other people's chickens to lay their own eggs.

secondary title

Where is the blockchain industry headed?

This is a topic that seems boring but actually very meaningful. If you only care about currency speculation, then you must feel that I am just bragging after hearing my next speech;

On the contrary, if you understand, then whether you want to speculate in coins in the future, or join this industry to start a business, you will be very firm and down-to-earth.

1. The blockchain industry is still in the initial stage of development. Although Bitcoin has been born for 10 years, the market positioning of Bitcoin is only a safe-haven asset, which makes its overall imagination space relatively weak.

In the near future, if Bitcoin becomes a fixed asset equipped by global capital and institutions to cope with currency oversupply, and truly becomes digital gold, then the market value of Bitcoin will be far beyond imagination.

2. The development of the blockchain industry is cautious, and it is not time to throw off your arms and get the results. Because of the ambiguous attitude of government departments.

At present, mainstream capital, mainstream large companies, and mainstream talents are still in a wait-and-see attitude towards the blockchain industry. Once the gate is opened, these backbone forces will inject great development possibilities into the industry.

Fortunately, last year, my country upgraded the blockchain to a national strategic breakthrough after 1024, and the layout of the central bank's DCEP is the beginning of the government's change of attitude. With the further support of regulatory agencies in the future, the blockchain industry will usher in There is more room for development.

3. Time will prove that we will all become the ones who can get the crabs in this industry.

Whether it is the current shortcomings of public chain technology or the industry's breakthroughs in DeFi, they all confirm the fact that blockchain, an unbeatable little strong, will one day enter the mainstream vision and become the mainstream.

With the further implementation of the blockchain industry ecology, public chain and alliance chain applications find suitable application scenarios, and one day those who stick to it will usher in the dawn.