GuShiio.com Bitcoin is time, the first DePIN product, and the first proof of the network effect of cryptocurrency.
Written by: Zuoye crooked neck mountain
With David Sacks ‘push, the White House encryption meeting is on the horizon.
However, Dongda’s encryption industry is not happy. It believes that Trump is purely using the currency circle as a cash machine, which will continue to suck out internal liquidity and lead to further price drops. Against this background, the encryption industry is called for its exclusive beauty. On the surface, voices that exclude external users, but actually call for staying away from the political whirlpool are one after another.
There is no doubt that cryptocurrencies are already part of the real world;
There is no way to avoid that the economic return and purity of blockchain have declined.
Judging from the current situation of cryptocurrency, PVP is an absolute no return, and innovations such as DeFi and NFT in the 2021 cycle are impossible to find. If you don’t participate in PVP, Trump and ETF will pump water, Pump Fun and Four Meme will also take away the USDT in your hand, so why don’t you just join PVP? It seems that you can be happy for a while.
Of course, I am talking about the realm of encryption.
In response to this matter, Western scholars have long recorded through the Wealth of Nations Theory and Prisoner’s Dilemma:
Starting from personal self-interest motives, the paths of both parties are:
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The Wealth of Nations: Individual Profit-Seeking-Market Transactions-Resource Optimization-Economic Growth
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Game Theory: Individual Rationality-Short-term Game-Resource Competition-Set
To translate, all the problems now are that the encryption industry has no products that generate and retain value, resulting in the eventual U-standard, and no one is willing to hold various types of cryptocurrencies.
The only question is who is the KOL Agency that is matchmaking. They have replaced the K Street lobbyists and proved that the lobbying power of the crypto industry can be comparable to that of the traditional military-industrial complex.
Nothing is real; Bitcoin is value.
At a critical moment in the industry, looking back on the history of Bitcoin, you will find that Bitcoin is not an exclusive private product, but a gift to all mankind. It is precisely because of its extreme inclusiveness that it has finally evolved from a money laundering tool and a geek community. Toys have evolved into values synonymous with global competition.
If you believe in the compound interest of time, you will get the rewards of life.
Looking inside and outside the snow line, encryption continues to evolve
High temperature corresponds to no organization, and low temperature corresponds to high organization.
The temperature in the encryption market is now very high, and the entropy corresponding to disorder is also extra high. After the consensus conference in Hong Kong, the short essay that has been popular for several years disappeared together with Meme, which means that insiders cannot find consensus, leaving only KOL Agents look at each other and regard each other as downlines.
In this round of cycle, BTC/ETH/SOL continued to be weak. 100,000 BTC transformed into eight-character goalkeepers. ETH sleepwalked throughout the game. At the beginning of internal reorganization, SOL was the most normal one. It was nothing more than the coin issuing group replacing FTX and the Jump cabal.
The real future obviously lies not in the competition between the public chain and L2, but in the swallowing of cash by stablecoins. The only question is to what extent can the stablecoins +SOL/Tron/EVM public chain replace the small systems of various countries.
Photo caption: Prediction of the disappearance of cash in various countries
Photo source: Voronoi
Cash in China has disappeared, but WeChat and Alipay are the mainstream players. Any U-card such as Infini cannot qualify for domestic UnionPay issuance and must be subject to personal foreign exchange control limits. Even if products such as HyperCard borrow from Laos to launch UnionPay U-card services, they still cannot be regarded as domestic banking products.
Countries with large populations such as India, Brazil and Nigeria are indeed rapidly cash-free, but none of them are occupied by stablecoins. This part of the market is quickly divided by local central banks, banks and Fin-Tech companies, leaving only leftovers for stablecoins.
Fundamentally, stablecoins involve national sovereignty, while today’s stablecoins are essentially variants of the US dollar and external forms of US debt. Any country with certain pursuits will resist the US dollar stablecoins, unless it is El Salvador and Cambodia and other small countries that are de facto or de jure dollarized.
Image caption: Nigeria’s www.gushiio.comzone maps perfectly to USDT activity on Tron
Photo source: Dune/catlover1337
In other words, the market for stablecoins is divided into three types. The first type is China, the United States, India and Brazil. stablecoins are just a marginal financial product. The second type is a small dollarized country. stablecoins are more convenient than the U.S. dollar., but the market has not yet been fully opened, and Visa/MasterCard’s channel curve is still needed to enter. The third bell is medium-sized countries such as Nigeria and Turkey. The currency system is chaotic, inflation is high, but it also has certain national capabilities. As a result, stablecoins have a large application market and real demand, but cannot be completely mainstreamed and compliant.
Just as Trump targets both positive and negative emotions, the greatest benefit of stablecoins is stability. Compared with cryptocurrencies that need to prove their value through currency prices, the demand for stablecoins has truly taken root.
Just as Paypal and others completed a surprise attack on card organizations at the beginning of the century by attracting customers without barriers, guarding the established market, and then completing the trilogy of landing in compliance, today’s cryptocurrency is also going through this process.
Moreover, BTC and ETH have completed the initialization stage of user education. BTC has proved the feasibility of network effects from scratch. ETH has amplified network effects to millions of real users. TRC-20 USDT stablecoins do exist around the world. Daily real users.
Inevitably, before the encryption field was used by hundreds of millions of people around the world, there would be no point in calling Mass Adaption, otherwise there would be no COM bubble at the beginning of the century. Please believe me, Web2 was no less speculative than it is now, and it was not until Google established an advertising system that it found realistic logical support for the value of the entire industry.
Avoid single-point concepts and embrace swarm intelligence
The reason why the stablecoin is that the current public chain and DeFi have developed to a bottleneck period. After the upgrade of Solana’s Firedancer is completed, Solana 2.0 and ETH 2.0 are the two fastest and most stable chains at present, enough to meet most users and developers. Any needs.
Only stablecoins can extend the network effects of cryptocurrencies to the extreme. In fact, blockchain does not need to discuss how to achieve externalities. As long as there are enough people, a group application paradigm will naturally be born, from ant colonies and bee colonies to human tribes and cities. Civilization, all proving the authenticity of group intelligence.
Of course, there is a paradox here. We cannot explore all the possibilities for mainstreaming stablecoins, but if you don’t explore them, you can’t know which possibilities are worth exploring. At present, it can actually be reduced to pure on-chain adoption and off-chain real-world scenarios.
There is no way to discuss and answer this question, but there is a very effective truth: only by treating the product as a service can we achieve the best results. Taking Deepseek as an example, the most accurate comment I have seen is: “Deepseek is a feature, not a product.”
I give a version of blockchain. We don’t need to pay attention to the dynamics and technological progress of public chains, Uniswap, and Binance. We pay attention to their connection with everyone in the world. Why Binance has achieved such huge commercial success? Because it really has more than 100 million encrypted users. They may not be on-chain users, but their existence makes Binance’s network effect extremely close to that of traditional Internet companies.
The only problem is that we have to find feasible promotion and application scenarios for stablecoins in practice while not knowing how to expand them.
For example, in regulatory cracks, stablecoins need to complete original accumulation with anti-fragility, use the disorder of gray areas, and deconstruct the order arrogance of traditional finance. Undercurrents always find penetration paths outside high-pressure barriers. Compliance is not a priority. Breakthroughs and gimmicks to show off.
To restructure the payment ecosystem in the sunshine zone, we need to face the iron wall of vested interests directly. Technical efficiency is only a ticket to enter. What is really competing is the patience of institutional games. When the regulatory cost itself has become a moat, subversive either waits for the metabolic cracks of the old order, or uses capillary-like penetration on the margins to disguise the revolution as improvement, just like Paypal vs. Card organizations, and now it is stablecoins vs. banks.
The stablecoin is standing at this crossroads. The success of black industry is its original sin, and the price of whitewashing may be bowing to the western sun and Trump’s rules.
In every era of thought, there will be a certain style of thinking that tends to become a common yardstick of cultural life. Cryptocurrency, technology, and ways of thinking will surely become the iconic features of this era.
May we find the Strawberry Fields of this era in the world of cryptocurrency.
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