Bitcoin was born in 2009, and algorithmic stablecoins were born 11 years later. Who is Satoshi Nakamoto's vision?
Today is December 31st, the seventeenth day of the lunar calendar, Thursday.
|Today's Quote
Follow the wave, little brother, and forward the wave by the way?
|Today's Quote
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--- Not Satoshi Somoto himself
Algorithmic stable currency seems to be the "currency" that most conforms to the logic of "inflation"?
I once forgot whether I talked about it on the current official account or the previous official account. USDT is the ideal image of "Bitcoin" in Satoshi's mind. More importantly, it is relatively "stable" and will not be the same as the current Bitcoin. Then "pump and plummet".
And if there is something that does not conform to Saoshi’s image, it is decentralization. After all, everyone knows that Tether prints money every day, and it also prints money without anything. This is the legendary air money printing method. After all In fact, other Tethers are also available. After all, even the Omni chain is available. How dare you say that it is not available?
Decentralization, plus stable currency, and in line with the "bitcoin vision" in Satoshi Nakamoto's heart, it must be an "algorithmic stable currency". After all, there is no need for "full mortgage" to follow the "consensus", right? Brainwashed?
Coupled with the "Bitcoin Vision", isn't it just for payment and against "XXXXX", the payment time on the Bitcoin chain is too long in my heart, so? ? ?
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The Evolution of Stablecoins
The well-known stable currency can actually be divided into three stages.
1. The first stage is led by USDT, BUSD, PAX, HUSD, USDC, etc., and the stablecoins are fully mortgaged by fiat currency reserves. At least that is what the white paper says. According to the policy of issuing 1 token for 1 US dollar, centralized and stable currency;
2. The second stage is Mkr’s Dai, AAVE’s Adai, etc., a series of semi-centralized and semi-decentralized stablecoins that are mortgaged by a package of digital currencies such as ETH, WBTC, USDT, and USDC;
3. The third stage is the elastic stablecoins led by Forks headed by Ban’s Basis Cash in 2018, such as AMPL, YAM, etc. These stablecoins no longer require collateral, and rely entirely on “elasticity” and "Mechanism" to regulate, completely follow the "market logic", a completely decentralized stable currency; (elasticity means deflation)
4. The fourth stage is Frax, Esd, Dsd, Bac, etc. It is completely completed through Lp liquidity + elastic stable currency (inflation), plus its own "algorithm". Only inflation and no deflation, deflation depends on use its own mechanism to eliminate;
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The Progress of the Fourth Generation Algorithmic Stablecoin
Now the stablecoin market is actually quite interesting, that is, stablecoins are no longer 1:1 USD, especially some Bas imitations, and even many people who boast that they are only Bas2.0 or even 3.0, their stablecoins are hundreds of thousands , Their bubbles are actually big or not, guess what?
The market actually needs so many "stable coins". Leaving aside those imitations, Professor Basis Cash Shuo actually thinks that the bubble may be a bit big. After all, too many people pay tens of thousands a day, hundreds of thousands or even hundreds of thousands. There are not a few million people.
According to one Bas, 64 Bacs are distributed today, and one Bac=1.2U, that is, a dividend of 78U per day. If you hold 1,000 Bas, you will get a dividend of 78,000U. In fact, the price of buying 1,000 Bas does not need to be very high. After all, the cost of many large households They are all lower than 300U. According to the price of 300U, only 300,000U can buy 1000 Bas, not to mention the price of many people is much lower than 200U.
In fact, the genius idea of Basis is to get two tokens, one Bac and one Bas, and the selling pressure is completely dispersed.
However, in fact, the application scenarios of Bac, or the application scenarios of all algorithmic stablecoins + elastic stablecoins on the market are not used to "make money", do you really think of someone because these "stablecoins" are very "stable" "Just bought it? ? ?
There is a complete "currency" adjustment mechanism inside the algorithmic stablecoin, and this adjustment mechanism is essentially determined by market supply and demand. The US dollar price is more of a reference price in the algorithmic stablecoin system, so the algorithmic stablecoin does not have to be anchored Priced in USD.
At present, the stable scale of the algorithm is still small, and the volatility is relatively large;
However, according to observations, as the volume of algorithmic stablecoins expands, the volatility of algorithmic stablecoins is also decreasing.
After the algorithmic stability is more widely adopted, a more accurate anchor point will also appear. At this time, the volatility of the algorithmic stablecoin will also be greatly reduced, so that it is generally contacted by the encryption market. A complete set of "currency" "The system will also mature.
Next, maybe the algorithmic stable currency is not anchored to USD, but a package of "fiat currencies". After all, only anchoring to one risk factor is still relatively large. Although it is the most stable, it is still easy to be manipulated by the "Fed".
At present, I still want to remind everyone to pay attention to the risks. Because of the success of Basis Cash, many scythes who have been out of the air have begun to gear up and start to imitate the market. In the end, only one YFI was survived by sexual mining, and the rest are cool, and there are not many left, so pay attention to yourself, especially the domestic dogs.
So the professor grabbed Bas anyway, and it was as stable as Mount Tai. Everything was good for Bas and Bac.
Currency market analysis
Currency market analysis
The price of Bitcoin has risen steadily, but everyone's attention has shifted, and they have begun to focus on the algorithm stability ratio. After all, one is less than 10% a day, and the other may increase by 100% in addition to 10% dividends every day. Who pays attention to whom? Woolen cloth?
Bitcoin is still excellent as always. It broke through 29,000 in the middle of the night and then quickly stepped back to 27,600, and then continued to rise suddenly. However, other mainstream currencies gave Bitcoin out of space and plummeted together. This is the time that belongs to Bitcoin alone. On the last day of 2020, is Bitcoin going to break through 30,000, and then welcome a more interesting 2021?
The 24-hour net inflow is actually not too much. However, judging from the 1H and even 4-hour K-lines, they have stepped out of an upward slope of almost 90°. Is this a wave that is in place to start the waterfall or will it be pulled out on the last day of the end of the year? Imagination makes everyone happy to take over, it depends on how you understand it.
At present, Bitcoin is still going 29000-27300-25300-23300 according to yesterday's method. If it goes like this, it means that the trend has changed. Anyway, my personal suggestion is still the same. The contract can be hedged but not naked, the risk is extremely high, The short sellers have seen too much recently, and they walked away peacefully.
The day after tomorrow it's time for regular investment again, and I still need to make a steady plunge so that I can buy some cheap goods.
Altcoin
Altcoin
There is nothing to say about altcoins. Now the heat in the market is only a few yuan:
1. Algorithmic stablecoins are good for DeFi;
2. Polkadot ecology;
risk warning
risk warning
I heard that the profit account of the 58XX exchange was hacked, and the cash was withdrawn only after recharging. If you have money, please pay attention. It seems that many people have been hacked. Anyway, no matter whether there is or not, it will not be groundless. Anyway, Professor Suo doesn’t play, so feel free.
All articles of Professor Suo cannot be used as investment advice and recommendations. Investment is risky, and the risk in the currency circle is even worse. It is recommended to evaluate personal risk tolerance and prepare psychologically before entering the market.
risk warning
All articles of Professor Suo cannot be used as investment advice and recommendations. Investment is risky, and the risk in the currency circle is even worse. It is recommended to evaluate personal risk tolerance and prepare psychologically before entering the market.
