Fire coin seven years of seven stories

Apparently bitcoin began its third cut in size on May 12, apparently exceeding the $2.3 trillion Fed Plan Far 2008 Rescue - With the words "NYTimes 09/Apr/2020& NBSP;With $2.3T Injection, the Fed's Plan Far Exceeds what was reported in 2008." The coVID-19 outbreak has left central Banks doing what they did a decade ago, which is precisely why Bitcoin emerged. The headline in The bitcoin block is a nod to The Times article that Satoshi Nakamoto recorded in The bitcoin creation block 11 years ago, titled "The Times 03/Jan/2009 Chancellor on brink of Second bailout for Banks."

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With such a tribute, everyone's mind will be drawn back to the beginning of bitcoin and the years of its existence in the industry.

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Now in the public leverage market, everyone's topic is no more than in several times the leverage, several times the needle, how much the odds, how much the burst to wander back and forth, the new entry of investors may not know what bitcoin is, also follow the K line, bask in the yield. But in fact, the earliest players were faith-based value investments.

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BlockBeats tracked down seven old Leeks who have been involved in the cryptocurrency industry at different times to talk about their own cryptocurrency investment history.

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Old leek optimal strategy: fixed investment, low leverage

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In 2011, When he was still in college, Jiao Nan saw an article "Hanging up the phone can Make money? Teach you to mine with graphics card and earn dollars" on The Website Of Huobao.com, from which he saw Bitcoin for the first time. As a digital hardware fan who doesn't have to pay electricity bills at school, Jiao Nan decided to try mining with his computer to earn some pocket money. Jiao Nan recalled that he dug for more than half a month, and the total amount was less than one Bitcoin. At that time, the price of one bitcoin was only 90 yuan. Later, the bitcoin was lost because the private key was improperly saved.

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For more than a year afterward, He was busy graduating and looking for a job. In 2013, the price of Bitcoin increased by more than 10 times in just a few months, which was reported by domestic and foreign media, and the bitcoin appeared in Jiao Nan's vision again. Jiao nan found that the GPU could no longer dig up bitcoin. However, compared with the previous one that could only be bought and sold through Taobao, there are now specialized platforms for bitcoin trading, among which the domestic mainstream platform is Bitcoin China and the foreign mainstream platform is Mt.Gox.

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After trying to trade in BTC China for a while, He found that BTC China always went down when big markets came up, so he soon transferred his money to Huobi.

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In 2013, several major exchanges burst the market interface (photo source: Weibo user's kid Di)

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In mid-2013, rumors circulated online that stolen money had been stolen from Mt.Gox, the world's largest trading platform. The market ignored the news and continued to rise after some adjustments. After Mt.Gox began suspending trading in early 2014, officials confirmed that hackers had stolen some 740,000 bitcoins. Bitcoin prices began to plummet. In 2014, bitcoin fell 56.15 percent for the year, taking its price from $732 to $321.

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He's glad he's not trading at Mt.Gox, and he's lost a lot of money in the downturn. Therefore, Jiao Nan repeatedly said, the choice of trading platform is very important, the price fall may have a chance to carry back, but the trading platform may be stolen will not get a penny. The security of the trading platform has also become one of the criteria for Jiao Nan to choose a trading platform.

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Han Xu bought bitcoin for the first time after paying 999 yuan to participate in the Bitcoin World Survival Guide by Li Xiaolai. Trusting Li, Han bought thousands of bitcoins from Huobi. As he learned more about Bitcoin, he invested more and more. 15 years of volatility in the market, Han Xu did not get the expected benefits.

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Subsequently, In addition to the Huobi net trading, also began to trade futures contracts. According to Han Xu, since 2015, the futures contracts of Bitcoin have suffered losses in general, and most of the profits are made on spot.

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When talking about the Suggestions for the next decade, Both Jiao Nan and Han Xu believe that they should choose a trading platform with convenient access to gold and no occurrence of stolen COINS, such as Huobi, to buy Bitcoin. Low or fixed investment is a better choice than high leverage; While buying cryptocurrency, you need to ensure that you have a steady source of income.

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It is important to choose the target

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Xiao ran has been in the cryptocurrency industry since 2013 and has been involved in any speculation. In his view, as long as before 2017 to buy mainstream currency, 2017 to participate in IC0, early 2019 to buy Taiwan dollar to participate in IEO, can make the first barrel of gold in life.

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At the end of 2013, Xiao ran watched the price of Bitcoin rise from more than $100 to more than $1,000. Out of the fear of stepping out of the air and plunge, Xiao Ran has not bought. Until March 19, 2014, Huobi announced the launch of LTC (Litecoin).

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Huobi micro blog

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LTC was created by Mr. Lee by modifying the bitcoin core code and parameters. Unlike many of the counterfeits that try to subvert Bitcoin, LTC is focused on making up for what Bitcoin lacks: bitcoin is used for large payments, and LTC is used for everyday small payments. And Li's brother, Li Qiyuan, was the chief executive of Bitcoin China, the world's second-largest exchange at the time. As a result, LTC has received a lot of praise.

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"At the time of very contradictory psychology, just fire currency launched LTC, ready to buy before the BTC money for buying a LTC. And now many have just into the circle of Chinese chives, feel LTC is cheap to buy a few more, BTC is too expensive, was a BTC can buy nearly 40 LTC. And everybody is said" bits of gold and silver ", to rise together will certainly rise. "said about me with a little teasing tone," then drops to buy more more, The cost was around $7, and the whole thing was sold at the same time that Mr. Lee announced his departure from Coinbase, which was either a profit transfer or insider trading a month after LTC launched Coinbase."

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By a rough calculation, Xiao Ran's profit on the LTC was close to four times, or 53 times if it sold at a high of $370. Asked whether he regretted selling early LTC, said about me, "don't regret is false, but it also shows that I can make a quotation to the front of the profits, the market has been more than my own logic behind The Times. The encryption currency speculation industry, following the trend is the most important, choose what mark, when to buy, when to sell, is one of the most difficult problem to determine the industry."

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What is the nt dollar value?

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2018 has been a tumultuous year for cryptocurrency trading platforms, with the Taiwan dollar as the most speculative value attribute. The emergence of Taiwan dollar for a time triggered whether Taiwan dollar can replace equity this topic, big big treasure for the topic of non-comment.

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Dabao, a trader who specialises in brick arbitrage, talks of Taiwan dollars and thinks it is a coincidence that he made his money from HT.

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In the early years, almost all domestic trading platforms did not require fees to trade Bitcoin, but they all waived the fees soon after the central bank interviewed a number of them in February 2017. The fees increase the cost of Dabao's brick-moving business. Because there is still a lot of arbitrage space, Dabao has not left this industry.

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At the beginning of 2018, after hearing that Huobi was about to launch a point card, Dabao decided to buy a one-month transaction fee equivalent point card after communicating with several peers. Dabao explained the reason of buying. Transaction fee is fixed cost. Buying in advance in the form of point card only loses time cost, but it gains COST-free HT. To Dabao's surprise, HT turned out to be his most profitable trade of the year, and he still keeps half of the HT given away from the original card purchase. In his view, as long as the development of huo currency better and better, whether it is Taiwan dollar or equity, will rise, not to mention most people can not buy equity can only buy Taiwan dollar.

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The emergence of FCoin has caught all trading platforms by surprise. Alex believes that all exchanges except FCoin will fail or even go bankrupt. As a result, Alex bought almost all the NT dollars involved in "trade mining". But in less than a month, the Taiwan dollar price involved in the mining deal halved again and again. After losing so much money, Alex once had the idea of leaving his own life.

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FT trend

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Where is the value of the Taiwan dollar reflected and how to value the Taiwan dollar? It became the question that Alex thought about every day during that period.

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The value of THE Taiwan dollar depends on the development of the platform. Initially, the value of the Taiwan dollar is reflected in the amount of destruction and dividends. With the vertical development of the trading platform in the industry, such as wallet, mining pool, capital, public chain, research institute, etc., the added value of the Taiwan dollar will no longer be limited to the amount of destruction and dividends. Alex briefly explains why he bought HT. After several rounds of bulls and bears, HT's average holding cost has become quite high and it is almost impossible for HT to return to zero like other NT dollars. The whole industrial chain layout of huocoin makes HT still have enough imagination space, now lack is tuyere.

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"Flat t have endorsed in platform, want to do exchange certainly won't let it return to zero, pull the new trading platform will use level t price to attract users. Head position limits its trading platform would not abandon Taiwan, like the fire COINS given Japan's financial services agency issued the kanto finance bureau licence no. 00007, after HT became Japan's 26th compliance digital assets. The role of the trading platform, flat head t is not only money, but a part of the strategic industry layout. Trading dig mining worthless shitcoin in walk hand of COINS, "At the moment, the liquidity of the fire is not so different from the trading of the mine," Alex says at the end, pointing to the popular DEX website.

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Stock players enter

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Now the secondary market is impossible to get rid of leverage, after the great bull market, derivatives became a necessary product of the trading platform. Tony, a long-time amateur player in U.S. stock derivatives, started his career in bitcoin derivatives trading after learning about Zhu Rong's 796 futures trading platform by chance.

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"Play encryption is betting on currency, and the role of leverage is to bet with a more reasonable allocation. Of course, I also don't advise you on leverage." Tony had several contracts, encryption monetary secondary market volatility to let him very excited. He did not choose the old contract trading platform BitMEX, also have no choice OKEx, he still used in fire money order.

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Tony believes that the futures contracts of Huocoin and Deribit options in the industry are the best fit for his semi-professional players. In terms of futures, other platforms are not as comfortable as Huocoin in terms of mobile APP operability and trading depth.

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October 2019 - May 2020 Bitcoin contract Trading volume (CryptoCompare)

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"Of course, huocoin is not without room for progress, as right portfolio, portfolio margin has not yet disappeared." "I haven't made a lot of money on futures contracts these years," Tony says. "Using futures more makes money flow faster. Suggest just into the circle of retail investors do not play the contract, low absorption do band is the best strategy.

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Is IEO good or good?

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Not everyone, like Xiao Ran, is buying Taiwan dollars for the platform's growth.

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No hot market, trading platform will create its own hot, IEO is born in such an environment. By default in the minds of all IEO users, IEO projects will only go up and down.

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In early 2019, Xiao Ran sniffed a different scent from the BNB's extraordinary rise. Years of experience and intuition told him that the market was bustling again. After seeing less than two days of K line, Xiao Ran heavy storehouse BNB and HT. Asked why he didn't buy OKB, one of the three big trades in Taiwan dollars, Xiao laughed and said, "Everyone in the industry was saying, 'You bought OKB, your whole family bought OKB,' because I didn't want to buy it."

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After the heavy stock HT, it became Xiao Ran's daily work to read announcements, projects and white papers. Then he bought three mobile phones, registered three Huobi accounts, and went to the Internet cafe one hour before IEO started snapping up goods. In my impression, Xiao ran said that he only grabbed the IEO project once, and earned about 5,000 HT that time. Then, in July 2019, Xiao ran sold all his NT dollars.

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"Openings, IEO project is too little, involved in too many users. Robbery to IEO project, not to buy tickets for HT. Huobi Prime is to give the nt user disguised benefits, the more people want to participate in IEO, HT is the more tight, is bound to cause prices to rise. But by in June 2019, the t value is very high, I feel should not far from the top, even if again rise, amplitude estimation is not high also. IEO launched more than six months, many users said be IEO got tired, proving that its life is almost over, Selling now is to buy more later and buying HT is definitely the time for the trading platform to launch new gameplay." When asked when to sell and will not buy, Xiao Ran explained his logic. The subsequent HT price trend also confirmed Xiao's expectation, HT rose 156.73% in the whole year of 2019, with the highest increase reaching 508.02%.

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HT trend

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Xiao Jun and Xiao Ran idea is completely different, in the small army view IEO can only promote the Taiwan dollar short-term price, in the long term, IEO has no impact on the fundamentals of the Taiwan dollar.

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Xiaojun was one of the first users to buy huobi and OKB CARDS. Before the launch of IEO on major trading platforms, xiaojun had not sold any of his Nt dollars. After several unsuccessful attempts, xiaojun sold all OKB and half of HT.

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"Clearly, the emergence of IEO is positive for the Taiwan dollar, the more users who participate in IEO, the more users who buy Taiwan dollar, just in favor of platform shipments. After IEO, the Taiwan Dollar can tell fewer stories, it is almost impossible to have excess growth." Xiao Jun thinks the emergence of IEO is the end of a phased Taiwan Dollar. Mr Jun admits that buying will continue only if HT prices fall to psychological expectations again.

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The next decade

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Every year, there are new wealth myths, new KOls, new hot spots in this industry. Besides projects, the only thing that can keep up with Bitcoin is probably the trading platform.

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"I have been trading in Huobi for many years, and I have seen that there has never been any interaction between people in this industry until now." Jiao nan said that from the web page to APP, his Huobi account has recorded the story of the coin circle for seven years, and he has also witnessed the development of Huobi from the simple exchange of several cryptocurrencies to the huge ecological system of derivatives, nodes, mining pools and other products.

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No one can judge the future shape of trading platforms. How much can public chain enable trading platform? Can decentralised trading platforms replace centralised ones? Are cloud services just needed? None of them knew.

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But the only certainty is that in the next boom, mainstream platforms like Huobi will not be absent. "There will be new wealth stories," he says. Small army said.

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In order to protect the privacy of the interviewees, the above Jiaonan, Han Xu, Xiao Ran, Da Bao, Alex, Tony, xiaojun are pseudonyms.

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