Bitcoin: Exploration and Thinking of Value Storage

Source: Daoshuo Blockchain

A few years ago, a senior in the industry whom I admired said inadvertently (roughly): He thinks the future of Bitcoin is a bit dangerous. Many of the "titles" and "labels" we give Bitcoin are actually worth discussing.

I was quite shocked when I heard this sentence at the time, and I couldn't believe that this senior would say such a thing.

To this day, I don't quite agree with this sentence.

But since then, this sentence has often lingered in my mind, making me think about every bit of Bitcoin from time to time.

An accidental case some time ago suddenly touched me.

When chatting with a friend, he accidentally mentioned that he had formed a habit several years ago, spending a fixed amount of 10,000 yuan every year to buy some small gold bricks or gold beans and throw them in a corner, no matter how much the gold price is, no matter whether it rises or falls, and give them to his next generation several years later.

My friend said that he didn't understand stocks and didn't dare to invest too much money in financial management. His life was not tight, but he didn't have much spare money. He thought about it and didn't know what to do with the extra money occasionally, so he just took out some of it to buy some gold. Anyway, this little money doesn't affect his life at all, and he doesn't expect this little money to change his life.

In his daily life, no one tells him every day how precious, rare, and valuable gold is, and whether it will appreciate in the future.

But his simplest behavior is to regard gold as a true reflection of "value storage".

I guess this may be the precipitation of 5,000 years of history that suddenly awakened his deep impression of gold?

On the other hand, most of us in the crypto ecosystem, although we keep shouting "Bitcoin is a value storage", when it comes to buying Bitcoin and leaving it alone for 10 years, we will see a surprise, but many people still complain "I waited too long" and "It's too long", and they may even be drumming in their hearts "It won't return to zero, right?"

On one hand, some ordinary people who have not been recommended gold buy gold and do not care about it; on the other hand, the vast majority of crypto asset participants who are recommended Bitcoin every day are always watching the price list to see the rise and fall of Bitcoin.

Which of these two behaviors is really treating the investment target as a "value storage"?

I think the message of a reader in the comment area is very insightful:

"Most people dare not buy it (Bitcoin) for value storage" and "They just want to get more legal currency."

Because of these experiences, I shared my recent thoughts on Bitcoin in yesterday's article.

As for the future, I believe that more and more people will enter the crypto ecosystem. So when more people enter this ecosystem, will the attribute of Bitcoin be more like a "collection" or more like a "digital gold for value storage"?

Then let time test it.

My personal preference is that it is more like a "collection". It is an incomparably beautiful technological masterpiece created by human beings for the first time with technology. It has created a decentralized world and opened up an era of on-chain that has never existed in human history.

Since it is a collectible, its value must be closely related to the ecosystem:

When more and more people enter the crypto ecosystem and the crypto ecosystem becomes more and more prosperous, the value/price of this collectible will become higher and higher; but when fewer and fewer people enter the crypto ecosystem and the crypto ecosystem becomes more and more sluggish, the value/price of this collectible will become lower and lower.

This has little to do with concepts such as risk hedging and risk aversion.

If we think along this line of thought, we should focus on how to prosper the crypto ecosystem and how to promote the healthy growth of this ecosystem.

To prosper the crypto ecosystem and promote its healthy growth, we must focus on examining products and services that can truly provide services/value and generate cash flow.

I believe the future of this collection is bright, because I believe that the crypto ecosystem can provide great services and value, and Nvidia and Apple on the chain will definitely appear in the crypto ecosystem.