JamesZhao @jameszhao2022

The difference between assets and commodities: The value of assets lies in risk returns, not use value, and the pricing of assets is general equilibrium. Commodities mainly based on the use value, and the pricing is also partial equilibrium.

Those who lack encryption belief and lack risk management awareness are not suitable for long-term survival in the encryption industry. The problem with SBF is that the long-term positive feedback has made him lose his awe of risk. Of course, he has never been a crypto believer.

Binance realized the oracle problem and made one which would end Link's leadership. However, like link, it is not decentralized or completely open. At this time, you will find the importance of NEST Oracles: completely decentralized, open, and any project and anyone can quote.

The welcome of a new generation of investors to digital currency reflects the long-term development trend of a large category of assets, which will gradually reach the scale of trillions of dollars. Among them, I am optimistic about BTC, ETH, and NEST. They have inheritance.

The competition of public chains has actually ended in 2019, and all the remaining public chains are just the spillover effect of the bull market bubble. In the future, ETH will occupy more than 80% of the space, which is difficult to change.

ETH2.0 provides two important parameters for the chain: the on-chain interest rate of ETH, and the minimum participation scale to obtain this interest. These two parameters will be the starting point for a large class of applications.

ETH 2.0 is laying the groundwork for the next bull run, and many people haven’t fully realized the change and haven’t really realized its value. If the price of ETH falls below 1000U, it will be the beginning of a new cycle.

Stochastic asset: An asset generated based on stochastic information flow, corresponding to an uncertain future income flow. Almost all financial products are stochastic assets. Blind boxes, lottery tickets, and game synthetic props are all stochastic assets.

There should be a kind of NFT that can be looked back, and its value continues to increase over time. Once recovered, the system will pay interest according to time. Such NFT has a basic intrinsic value.

The bottom of the bear market is not the most tormenting, the most tormenting is that it has not yet reached the bottom. Many people still expect a good performance, or they cannot judge whether they need to exit. The bottom is followed by a long wait and slowly emerging hope.

We must understand the history of blockchain which contains the laws of each cycle, especially the characteristics of the end of the bull market, the concepts that are promoted in the bear market, and the intergenerational innovation that truly leads the next bull market.

Most developer communities of public chains or layer2 are isomorphic to Ethereum, they are not special and will come to Ethereum one day. To build a unique technical community, you can't just make performance improvements on Ethereum, you have to do things that Ethereum can't do.

Next 20 years, digital currency (BTC), public chain (ETH), stable currency, and exchanges have entered the core product circle of blockchain. For the rest that can enter the core product circle, I am optimistic about random assets/PVM, of course NEST.

Defi still copy cefi, this is the wrong direction. Several projects that are close to the future paradigm: Maker, Synthetix, LUNA, these are all people only interact with contracts to generate new assets , while NEST unifies them and abstracts them into PVM.

Real innovation always starts at the edge, bottom-up, like blockchain, which is a technical module of Bitcoin. The current web3 is top-down, a grand narrative promoted by investment institutions. I don’t think the next generational outbreak has much to do with web3.

What if on-chain assets are completely isolated from off-chain assets? In fact, in that case, we will be able to recognize the truth of the blockchain world better. The introduction of fiat currency has added a lot of noise to us.

We like Vitalik is not only because he founded Ethereum, but also because of his insistence on decentralization, inheritance of Satoshi Nakamoto's architecture, and disregard for wealth and honor. He is the most important KOL in the blockchain field after Satoshi Nakamoto.

I once pointed out that every time something like NFT or a game is hot, it is the end of a bull market, because these contents are too simple that you can get started without any learning, which is what a bubble means. The starting of the bull market is a new paradigm.

If you imagine the blockchain as an independent world, it is still desolate, and it makes a living by selling a few monkeys to the traditional world. Or make a few Pond's funds to attract participants, which is not what we should support.

Personally, if I have 1000WU, I will buy ETH and NEST when ETH is lower than 1000U, and the allocation ratio is 2:8. I believe that the scale of the blockchain world will definitely reach more than 20% of the total wealth of mankind, and BTC, ETH, and NEST are on the right path.