The market can always inspire irrationality in people's hearts. Especially the currency market. Sometimes stormy waves, sometimes stagnant water. No matter what kind of performance or direction, it will touch people's heart and make people unable to control themselves. It will stimulate your FOMO (Fear Of Missing Out) with the rise, and make you chase the rise. But often as soon as you chase in with your front foot, the back foot market begins to fall, and you are perfectly standing on a high hill. It will arouse your anxiety sideways and make you lose patience (Impatience). Unable to solve the pain, or just watching the coins in your hand continue to rise and the other coins double every day, your heart can no longer remain calm, so you are angry and cut your flesh and find another love. But often when you just cut the meat, this compartment starts to exert force, without looking back, riding Juechen, and when you react, you rush back, and find that you can't get in the car at a leaps and bounds. It will also use the fall to mobilize your fear, make you cut meat in a hurry, jump into a car and escape. But what you can't predict is that the squat before the jump is to wash away the lever, wash away the baggage, wash away the leeks that have not firm beliefs, including, wash you away.
In either case, as long as people are in the market, their hearts are in the market, and the funds are in the market, everyone will encounter it. Moreover, everyone is the same. me too. The first recognition of realists is to admit that he is a mortal Tang Sanzang, not the Sun Wukong with fiery eyes. When you feel that you are awesome, different from others, your mentality is drifting, and the time when a disaster is imminent is also coming. In front of the market, we must always remain in awe.
Holding coins means practicing. Each of us has a heart. The market is always fiddle with your heartstrings, and what you want to cultivate is just a "indifference." The market teases your desires and makes you "tempted", and you have to hold back your temper and endure a "not tempted". So tempted to endure, gain what it can't. Wang Yangming said, this heart does not move, but moves with "opportunities." Your operation, whether it is buying or selling, must not act because of "heartbeat", you must take the "opportunity" to act. Before the time has come, even if the tricks conjured by the demons and monsters on the market become sultry, close your eyes and meditate on the Heart Sutra to maintain concentration. When the time comes, even if the market shows a high degree of uncertainty that makes you look forward and backward, you must attack decisively and kill invisible. All the execution tactics are simple eight-character (eight-character tactics), and the rest is inner practice. The magic of use is one-minded. Rising, the time has not come, no FOMO; sideways, the time has not come, do not sell; down, the time has not come, reverse increase. When the time comes, regardless of rising, sideways or falling, you should buy and sell, ignore the market, and only execute according to your own plan.
Today we continue to review the "Bitcoin Principle" audio class (the directory and listening entrance can be found in the "Liu Jiao Lian" public account menu) Chapter 10 "Hidden Fame and Go to the Legend of Cryptocurrency" Chapter 3 "Bitcoin Is Self-fulfilling prophecy" (Review Note 10-3). This is the last section of this series of courses. So far we have finished reviewing all 30 lessons. I hope that these 30 lessons were born at the lowest point of the previous bear market and will be able to accompany you through the next bull market better.
Nobel laureate Hayek said that a thing with attributes suitable as currency is only because it is scarce, and people believe that it is scarce, people will be willing to hold it as a currency that preserves and increases its value.
Hayek used pure symbolic currency in recent decades to illustrate that people don't care whether money can be redeemed or not, but what they care about is scarcity. And every time a currency fails, the issuer fails to effectively control its quantity. The use of gold as currency is not because of the usefulness of gold, but just a technical means to control the quantity.
From the perspective of technical means, gold obviously still has some inadequate aspects. For example, gold that cannot be divided is very small, because it is too small to be seen by human eyes. How can it be used? Gold is also prone to wear and tear, and every time it is cut, some may be lost. There is also the fact that gold is in physical form, and costs are required for use and transportation. Especially for large-scale transportation, the security cost is very high. Finally, gold is easy to be confiscated. In modern times, whether it is the forced confiscation of gold in exchange for gold coupons at the end of the Republic of China, or the US Roosevelt’s decree 6102 confiscation of gold for US dollars, and then a substantial depreciation of paper money, this highlights the weakness of gold, that is, it cannot be resisted. The barrel of a gun that lifted the table.
Gold was forced to withdraw from the stage of history. Fiat currency is on the stage. But in theory, the legal currency that can be issued indefinitely gives the issuer unconstrained and monetary dictatorship. The entire human society has fallen into an unprecedented monetary totalitarian era. Hayek’s teacher Mises said that the only definition of freedom is the right of private property. In this era when everyone's savings in the world can be easily plundered by the money printing institutions (Federal Reserve) that are thousands of miles away across the ocean, the entire human world is a new slave society that is prosperous on the surface and everyone is enslaved.
In 2008, a person published a paper under a pseudonym, proposing the design idea of decentralized currency. A few months later, in 2009, he put a working system online. Since then, mankind has possessed a technology that is better than gold, and can technically control the amount of currency. While ensuring everyone's absolute ownership of the currency he owns, it deprives anyone and any institution of control without restriction. The power of over-issued currency.
He launched the product independently, retired, and passed it to the community. The product continued to evolve. Thousands of people around the world organized themselves and volunteered to join this business; he set the top-level design ten years ago, and the computing power is guarded. Change; He does not seek fame and wealth, and has no dream of achieving himself, but he has the feeling of achieving all mankind. He asked others to call him "Satoshi Nakamoto."
On January 16, 2009, Satoshi Nakamoto wrote in the cryptography group mailing list: “It’s wise to own some Bitcoin, in case it becomes popular. If enough people think so, then it Will become a self-fulfilling prophecy."