Vol.07. [“Encrypted” Call] China-US Bitcoin hegemony game, ushering in a new era of cryptocurrency? Let’s talk about getting started with cryptocurrency

"Hemisphere Observation" finally has a listening group! You can add philgroup or Peter-Banqiu through WeChat search to join our WeChat listening group, or search "Hemisphere Observation" on Xiaohongshu to follow us and join our Xiaohongshu listening group. Ah P and P are looking forward to listening to your opinions. , feedback and communication ~ October 31, 2008, an ordinary day, the Bitcoin white paper was released. No one realized at the time that this white paper would create a new industry worth trillions of dollars: cryptocurrency (Crypto). In the 2024 U.S. presidential election, the competition with China for Bitcoin hegemony and the regulatory attitude towards Bitcoin have become the focus of the debate between presidential candidate Trump and Harris. Unconsciously, the competition for the right to speak about cryptocurrency has quietly become the focus of the game between major powers. When we talk about cryptocurrency, people in the industry will be surprisingly enthusiastic. Whether it is about the myth of his overnight wealth or the extremely beautiful ideal vision of decentralization, "crazy" seems to have always been synonymous with it. For most ordinary people, cryptocurrency will be understood as another kind of "crazy": crazy behavior, crazy crime, and crazy fraud. It seems that there has never been such a thing in human history. Like cryptocurrency, it has "beautiful technological vision", "crazy gold mining" and "shady criminal fraud" at the same time. These three extremes are almost complete. Mutually exclusive characteristics, but they are growing wildly, from a barren market with almost no value to a capital force that cannot be ignored in the world. Starting from this issue, we will create a new series: ["Encrypted" Call], chat with you about this crazy "cryptocurrency" that is increasingly occupying the field of vision of more and more of us, and tell you about this barbaric The capital story of growth will also explore with you what kind of future the end of this story will lead people to. This is the first issue. Let’s share with you our views on cryptocurrency, as well as some of the problems and misunderstandings we have encountered when getting started with cryptocurrency. Are cryptocurrencies a Ponzi scheme? Is its technical implementation principle reliable? What kind of new credit system has it created for people? What is our current credit system like? Are all the projects on the cryptocurrency chain just cutting leeks? Can the decentralized vision they describe really be realized? What impact does the fairness and equality emphasized by cryptocurrency have on ordinary people? See you in this issue of "Hemisphere Observation". Disclosure Statement: The views expressed by Ah P and P Te in the program represent only their personal views and do not constitute investment advice. This podcast is for informational purposes only and is not intended as an investment reference. A and P may hold positions in tokens or projects discussed on this show. ----------------------------------------------- Welcome to pass Email us to exchange views on the program, topic selection and your own opinions. E-Mail: banqiu@fastmail.com Our website is: banqiu.xyz (http://banqiu.xyz/) (under construction) You can also sync on NetEase, Himalaya, Little Universe, Apple Podcast, Spotify and YouTube Music Listen and Subscribe. --------------------------------------------------【This issue You will hear] PART 1: Popular Science on Cryptocurrency (Crypto) • 01:52 Will Trump’s victory lead to a craze for cryptocurrency? • 04:09 What is Crypto? How is it different from traditional trading? What is the difference between a centralized exchange (under the blockchain) and a decentralized exchange (on the blockchain)? • 10:26 Summary of the differences between the ecology on the blockchain and off the blockchain (Friends with a certain basic understanding of exchanges can jump here directly) • 12:21 Bitcoin/cryptocurrency blockchain network and technology What is the principle? 13:12 What is our current centralized credit system like? Currency is actually just a serial number that facilitates accounting? ! 20:45 What is the decentralized credit system proposed by cryptocurrency? How to clearly remember the big pot account? ! • 28:35 What is a decentralized exchange on the blockchain? Is it our primary market in reality? What are the pros and cons compared to centralized exchanges? PART 2: The threshold and concerns for ordinary people to enter the game • 37:13 How do ordinary people obtain cryptocurrency? Where to trade? What are deposits and withdrawals and government supervision? Are there any legal risks? • 44:23 What are some of the gray assets of cryptocurrency? How should we pay attention? • 45:00 There are so many cryptocurrencies out there, how should I choose a cryptocurrency to invest in? • 49:53 Token issuance (ICO) is actually similar to stock IPO fundraising in traditional markets, so how is it recognized legally? • 52:05 How is Ethereum’s ICO recognized legally? Is it a securities issuance? Why is it exempt from the supervision of the Securities Regulatory Commission? • 55:11 Is the transaction of tokens on the blockchain actually bartering? Why are cryptocurrencies considered digital entities? What are the fascinating features of decentralized exchanges (DEX)? • 1:29:40 Is there any behavior in the cryptocurrency market that cuts leeks to ordinary people? How can ordinary people avoid being cut off? PART 3: The charm of cryptocurrency trading compared to other transactions • 59:11 Compared with the high cost of automated trading on centralized exchanges, the free automated trading API of cryptocurrency centralized exchanges is a way for retail trading Equal rights? Are there pitfalls in automated trading on centralized exchanges? • 1:07:01 Decentralized exchanges on the blockchain will have many restrictions, so that the resource gap between institutional investors and retail investors will not be so obvious. Is this a reflection of fairness in the ideal of decentralization? • 1:07:55 Judging from the DEXX theft incident, what are the pitfalls that ordinary people need to pay attention to in decentralized exchanges? • 1:09:35 What are the options for ordinary people to get involved? What are the thresholds for ordinary people to trade? What basic knowledge is required? • 1:12:13 Which type of people is most suitable for cryptocurrency (Crypto)? • 1:13:23 Decentralized exchanges (DEX) can achieve equal trading rights for HFT. Compared with centralized exchanges, what are their charms for ordinary people? Let’s look at the huge advantages of institutions in centralized exchanges from the example of Jump Trading arbitrage. PART 4: Does cryptocurrency have any technical content? What are the domestic government policies? Answers to questions collected in advance from the audience • 1:22:07 If the government confiscates cryptocurrencies, will cryptocurrencies disappear? Starting from the Yancheng incident • 1:24:51 Why is Bitcoin called digital gold? Are there really many countries that issue currencies anchored by Bitcoin? Let’s talk about why China and the United States are competing for Bitcoin hegemony, and the tragedy of small countries under the encryption trend. • 1:31:11 Are cryptocurrencies technical? What is its significance to mankind? • 1:35:12 Why is the domestic government vigorously supporting the development of the blockchain industry? What is the policy? • 1:38:02 Summary and conclusion of the program