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Golden Hardcore | Another Wall Street tycoon takes aim at Bitcoin, this is his reason



Jine Finance recently launched the Hardcore column to provide readers with introductions or in-depth interpretations of popular projects.

Press: There are only 3 days before the halving of Bitcoin, and on the morning of May 8, Bitcoin broke through the $10,000 mark. The cryptosphere has been expecting institutional investors to get into Bitcoin, and now they are queuing up to get in. It was reported on May 7 that two companies, Grayscale Investment and CashApp, had bought 50% of the Bitcoin mined in the first quarter of 2020 in 2020. On May 8, another institutional investor took aim at Bitcoin.

Billionaire and hedge fund tycoon Paul Tudor Jones wrote in a letter to investors "The Great Monetary Inflation" on May 8 that he is buying Bitcoin to hedge against inflation due to central bank money printing. caused inflation. Paul Tudor Jones said that he will allocate low single-digit (<5%) assets to Bitcoin. At present, Tudor BVI manages nearly 22 billion U.S. dollars in assets, and low-single-digit investments mean that hundreds of millions or even billions of dollars of new funds will flow into Bitcoin. And this news is bound to prompt investment teams from other institutions to do more serious research on Bitcoin. At present, the original text of "The Great Monetary Inflation" cannot be found on the Internet. Hardcore compiled its main content-ethexc based on multiple reports to see the logic of the big guys buying Bitcoin. enjoy it.

Golden Noon News | List of important developments at noon on December 13: 7:00-12:00 Keywords: Central Bank, Lightning Network, ETC Hard Fork, Justin Sun, Tezos

1. Haibei Prefecture Sub-branch of the Central Bank: Investors need to guard against virtual currency fraud.

2. Vice Governor of Shandong Province: To upgrade the traditional manufacturing industry with technologies such as blockchain.

3. The Basel Banking Regulatory Commission solicits opinions on the prudential regulation of encrypted assets.

4. The lightning network has completed the multi-path payment interoperability test and supports larger bitcoin transactions.

5. ETC Core held a developer meeting to determine the height of the Agharta hard fork.

6. Shenzhen Qianhai Taxation Bureau: will continue to promote blockchain electronic invoices.

7. Sun Yuchen’s new Weibo account “Mr. Sun Yuchen” was banned.

8. People familiar with the matter: Ping An OneConnect’s IPO price is at the high end of the guidance range, raising US$312 million.

9. The market value of Tezos is 1.125 billion US dollars, returning to the tenth place, and it is currently reported at 1.7 US dollars. [2019/12/13]

Billionaire hedge fund tycoon Paul Tudor Jones wrote in his latest letter to investors that he is buying bitcoin and that his Tudor BVI fund may hold a "low single-digit percentage." -digit percentage) Bitcoin futures. Paul Tudor Jones believes that Bitcoin will play an increasingly important role in an economic environment of unprecedented monetary expansion and inflation.

Analysis | Golden disk: BTC is facing technical divergence after the surge: Comprehensive analysis of the golden disk: BTC continued to rise in the night market, and the BITMEX perpetual contract XBT-USD hit a rebound high of $7,298, and then began to fall. The current 4-hour K-line chart shows , The MACD indicator diverges. If the bulls cannot continue to maintain the price above $7,200, they will face the adjustment pressure brought by the technical deviation. In the short term, investors are advised to pay attention to risk control. [2018/9/2]

Which store-of-value assets will be winners in 10 years? Paul Tudor Jones said: "At the end of the day, the best strategy for maximizing profits is to own the fastest horse, own the best assets, and not get caught up in the intellectual side thinking you're smarter than the market, which can be Puts you in a bind in terms of yield. If I had to make a prediction, I would bet that the best performing asset of the next decade would be Bitcoin.”

Inflation concerns

Jinse Finance’s exclusive analysis still needs to work hard to represent blockchain 3.0 EOS: EOS prices are now at the leading stage, and discussions about EOS are gradually increasing. EOS is even considered to be the representative of blockchain 3.0, but in fact the current EOS It is far from meeting the requirements of blockchain 3.0, and EOS still needs to work hard. In terms of the transmission rate that EOS is proud of, in the EOS2.0 white paper, it is said that EOS can reach a transmission speed of 50,000 TPS per second, but in fact, the transmission speed of 50,000 TPS per second can be said to be blockchain The final transmission speed, this speed should be the speed at which the blockchain develops into a "full body" form. During the testing process, using a single machine with a gigabit network for a single-process test, the highest transmission speed can reach 200,000 TPS per second, which is in the case of no interference, while the transmission rate of EOS is 50,000 TPS per second. , is to calculate the participating nodes on the network, and use the algorithm of A=B+C to calculate that EOS has a transmission rate of 50,000 TPS per second, which cannot meet the needs of blockchain 3.0. To represent blockchain 3.0, EOS still needs to work hard[2018/4/12]

Paul Tudor Jones does not see inflation in the short term, as the severe contraction in demand during the current COVID-19 pandemic will prevent the price of goods and services from rising in the short term. However, there is great uncertainty in the long run. He believes the central bank will give it a "hands-on" as it is financing an increasingly leveraged economy. He highlighted that the U.S. M2 money supply is growing at its fastest pace since World War II, far outstripping real GDP growth, which has historically been sure to lead to inflation.

Jinse Finance live report Yuan Dao, chairman of the Zhongguancun Blockchain Industry Alliance: The new generation of public chains can consider strengthening the issuance of tokens on the basis of Bitcoin: Jinse Finance live report, at the 2018 Blockchain Technology and Application Summit, Zhongguancun District When talking about the token economy, Yuan Dao, chairman of the Blockchain Industry Alliance, said that Bitcoin only provides its own currency and does not support tokens. Ethereum uses Turing completeness to support tokens with ERC, but there are huge security risks. The new generation of public chains can Consider strengthening the functions of token issuance, distribution, transaction, and management on the basis of Bitcoin, so that it can be separated from Turing's complete virtual machine to increase security, reliability, and ease of use. Realize "certification for everyone", plug and play (Plug & Play). [2018/3/30]

Moreover, unlike the 2008 financial crisis, banks are now well capitalized, and current policies are aimed at putting liquidity in the hands of households and businesses rather than propping up bank balance sheets, which would reduce the bank's money multiplier. decline in numbers. The fall in the money multiplier occurred after the 2008 crisis.

Finally, he said that supply chain restructuring could reverse the "two decades of deflation brought about by globalization," raising concerns about inflation.

Store of Value Asset Evaluation

To pick store-of-value assets, Paul Tudor Jones evaluated financial assets, fiat currencies, gold, and bitcoin in terms of purchasing power, trustworthiness, liquidity, and portability. Although Bitcoin scored the lowest of the four assets, he emphasized key attributes of Bitcoin such as a "set maximum supply" and 24/7 liquidity. Paul Tudor Jones believes that compared to other assets, Bitcoin has superior transferability, emphasizing that Bitcoin can be easily transferred through the Internet in extremely unfavorable situations such as war.

"So, here are some discussions to have in evaluating the suitability of each asset as a store of value. Let What surprises me is not that bitcoin is last, but that bitcoin has a high score. Bitcoin has an overall score close to 60% of financial assets, yet has a market cap that is only 1/1200th that of financial assets. Its score is 66% of gold , but its market value is only 1/60 of gold. It seems that something is wrong, my guess is the price of bitcoin (undervalued).”

Bitcoin Bull Market

Paul Tudor Jones believes that the most convincing argument for holding Bitcoin is the imminent digitization of money. "The bull market is built on an expanding pool of buyers." Projects like Facebook's Libra and China's DCEP will make digital currency wallets commonplace, making bitcoin easier to own, use and understand than it is today.

He went on to compare Bitcoin to gold in the mid to late 1970s. Gold was used as a futures product in the 1970s, and Bitcoin had a futures product in 2017. Gold prices tripled during the 1973-1975 bull market, then retraced more than 50% over the next two years, similar to Bitcoin’s 80% retracement in 28 months.

After that, the price of gold continued to rise to four times the previous high, and Paul Tudor Jones believes that Bitcoin's performance is likely to be similar to that of gold.


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Jine Finance recently launched the Hardcore column to provide readers with introductions or in-depth interpretations of popular projects.Press: There are only 3 days before the halving of Bitcoin.

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