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Golden Trend丨History is repeating itself, where will BTC go next?



Golden Relativity | Founder of dForce: The most fundamental problem of DeFi mining is that it will lead to balance sheet mismatch: News on July 16, in the Golden Theory of Relativity held today, for "Compound, which has been online for a few days, relying on" COMP as a Governance rights and interests are currently rewarded to users who use Compound for lending in a way similar to gifts. As a subsidy, COMP seems to have no value support behind it. How to evaluate this method of borrowing and mining? Will this liquid mining subsidy method collapse like Fcoin? "The problem.

Yang Mindao, founder of dForce, said that for all mining activities, the first major premise is that the product itself is useful, which is the fundamental difference from air and business cold start. Because dForce has made loan products similar to Compound before, and before liquidity mining, the business volume is close to one-third of that of Compound, and we have a better understanding of Compound’s protocol logic. Before mining, their products already have a lot of locked positions, ranking among the top three, so mining, even if the COMP price is 0, has no effect on their own products.

I have participated in both the mining of Compound and the early mining of Fcoin. There is another important difference between them. The mining behavior of DeFi is all on the chain, which is open and transparent. Collateral, loan amount, and distribution are all Transparently, the mechanism of Fcoin is completely a black box.

Therefore, it will not crash like Fcoin. However, the yield will fall to a market average interest rate level.

In the early days, my annualized rate of mining COMP could reach 200%, but now it is basically less than 10%, and the mining income of individual assets such as DAI will be higher. I think the most fundamental problem with DeFi mining is that it will distort the balance sheet, and if it goes on for a long time, it will lead to a mismatch of the balance sheet. [2020/7/16]

The picture above shows the long-term weekly historical trend of BTC and the key time points of the three output halvings. The research found that each cycle includes bull market, bear market, bottom accumulation, pull-up and retracement accumulation stages, and each stage corresponds to a box At present, BTC has completed the third halving of output, and the previous 312 sharp drop did not effectively break through the central fund-raising box section. The overall operation is still intact, and it has entered the same bull market box section as the previous three times, but It belongs to the slow bull trend with slow rise and bottom rise in the early stage, and the fast bull market that will accelerate to the top in the later period. Although history will not be repeated simply, the general trend in the future can be predicted through research. The current overall trend is still in good condition. Without breaking the position, the general direction remains optimistic about the market outlook.

Jinse Finance Market Report|BTC fell and rebounded, and the range platform constituted resistance: According to the Huobi market, BTC started to fall after touching 9256.87USDT yesterday evening, and quickly rebounded after touching the lowest of 8942USDT in the early morning of this morning. The shock hovered around 9100USDT, and some short positions dominated . Looking at the daily chart, yesterday’s falling market formed an anti-envelope, breaking through the 9150USDT range platform, and the local moving averages MA5 and MA10 constituted pressure. In the 4-hour chart, in the continuous rebound process, we can see the resistance caused by the previous finishing platform. The 1-hour chart is finishing and gaining momentum, and the trend of the local upward channel remains unchanged. As of 10:00, the specific performance of the mainstream coins on the Huobi platform is as follows. [2020/7/3]

Jinse Finance live report, Niko: Europeans are slow to accept new things: At the 2018 World Digital Asset Summit (WDAS) and FBG Annual Conference, the conference invited enterprise projects from all over Europe to come and focus on blockchain in Europe to discuss the current situation. Niko from Aeternity said that Europeans tend to be conservative and are slow to accept new things. It will take some time for blockchain technology to develop in it before it can be gradually recognized by the public. [2018/5/3]


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