The inflection point of public awareness of Bitcoin is coming

Inflection point is a mathematical term. It refers to the point that changes the upward or downward direction of the curve. Intuitively speaking, after passing this point, the direction of a curve will turn sharply and accelerate development.

In daily life, we often use this word to describe the development trend of a thing, once it passes a certain critical point, it will accelerate towards a certain trend.

Now, I strongly feel that the world's cognitive inflection point for Bitcoin is coming.

A person with a considerable background in the e-commerce industry (formerly the assistant to the president of JD.com) and a very controversial person recently published a testimonial on the Internet. I have extracted the key parts of it:

"One hour ago, the market value of Bitcoin exceeded 1 trillion yuan. Yesterday, I bought BTC for the first time. As a person who denied BTC in various public places ten years ago, let me talk about my psychological change stage:

In the first stage, since BTC is not directly linked to actual productivity, I do not recognize BTC as a legal currency/token, and think it is a tulip scam;

In the second stage, just three years ago, I suddenly realized that even if it was a tulip scam, many people made money before it collapsed;

In the third stage, that is, at the beginning of this year, I suddenly discovered that BTC may not represent productivity, but it represents new production relations.

As the epidemic hits the economy hard, the world is releasing water, and inflation will continue this year. Inflation means that wealth will be transferred to an absolute limited number of BTC to preserve the value of wealth. Consensus is forced to align, and new species become mainstream, not necessarily from necessity, but more likely from accident. "

Seeing this investor's psychological transformation process, I also thought of my own psychological transformation process.

When I first forced myself to get serious about Bitcoin, I did it technically.

I first read its white paper, then read its source code, and then learned about the operating principle of Bitcoin in further studies, and then started to learn Ethereum and smart contracts. In the end, I think blockchain technology technically It will have a subversive impact on the world, and it is considered that Bitcoin is the most secure and most attack-resistant system among all existing information systems in terms of technical architecture. That alone makes Bitcoin extremely valuable, and it strengthens my determination to buy.

So instead of the second stage of the investor's description, my psychological transformation process jumped directly to the third stage.

The investor’s description did not mention any technical points about Bitcoin, such as Bitcoin’s decentralization, peer-to-peer network, distribution mechanism and other points that friends in the technical circle often talk about, but mainly from the emotional point of view. Cognitive and economic aspects are on the table. It can be seen from this that he does not seem to have the significance of mining Bitcoin from a technical perspective, so the change in his cognition seems to come from the "pressure" and "facts" generated by the external environment to some extent.

The external financial environment is extremely loose, and large European and American institutions and traditional financial investors are pouring into Bitcoin in a steady stream, which seems to make him feel that the recognition of Bitcoin is to some extent caused by such extremely loose conditions. This made him have to accept the "iron" fact that Bitcoin is "a done deal" and "cooking raw rice into cooked rice".

Regardless of whether his change of mentality is rational or not, I think this kind of change is probably experienced by the vast majority of people with certain socioeconomic status, but not necessarily many people with technical backgrounds. Such people do not think about the possible impact of the technology behind Bitcoin on the future of this society from a technical perspective, but think more intuitively about the prospects of Bitcoin in terms of economic benefits and investment effects.

And it just so happens that the current loose environment makes the investment income of Bitcoin stand out, so they are "forced" to accept it.

Therefore, I believe that the cognitive change process of this investor is quite typical in the middle and upper classes of society.

Dan Bin, the domestic private equity tycoon I wrote about in my article yesterday, is also a typical investment in Bitcoin.

When these people who have the right to speak in society and act as the vane of the public begin to undergo such a change of mentality, it will inevitably affect the broader general public.

This trend has already occurred in the United States from last year to this year, and now it is becoming stronger and stronger in our country, and it is an irreversible trend.

The inflection point of the world's understanding of Bitcoin has arrived, and after the inflection point, there must be a sea of ​​stars.