▊Last night, Litecoin veteran and Litecoin Chinese community leader PZ participated in the 500 million club internal sharing meeting. He talked a lot about Litecoin’s past and his views on future market trends. Coincidentally, after the sharing, Bitcoin's positive line returned to $10,000, Litecoin also rebounded, and the group was excited.
Today, BiZong excerpted some of PZ’s Q&A content and compiled 3,000 words of useful information. Friends outside the club and readers of the public account can watch carefully and collect it! You will definitely benefit a lot.
/1/
Mr. Bi: As the person in charge of the Lite Chinese community, PZ can tell you how you met and decided to join Lite?
PZ: Because I entered the Bitcoin industry relatively early, I was exposed to early projects like LTC very early. Around 2010, I came into contact with BTC and made my first pot of gold. However, the first big pitfall is LTC.
When I first came into contact with BTC, I was fascinated by it after reading the BTC white paper. I know that a new world has begun, the whole world will be rebuilt, and a new era of human society has arrived, so I am fascinated by the Internet. I am looking for various BTC related information online. There was very little information at the time, but luckily I found BTCT, the most important BTC forum in the world. At that time, it was still a world of geek technicians, and everyone was seriously studying and discussing BTC. Related technologies, put forward various development ideas, and conduct various meaningful or meaningless explorations. During this process, I discovered the LTC project.
LTC is the second project. Although the first project failed, LTC was undoubtedly successful as the second project. LTC was announced on BTCT about a month before official mining. At that time, no one had so many financial skills. Most things like pre-mining and protecting Europe are purely technical endeavors. Of course, as time goes by, many projects that use tricks to defraud money gradually appear, and there are more and more projects. At that time, the BTC industry chain gradually entered a new state, and Pumpkin and Roasted Cat took the lead in launching the world's first ASIC Bitcoin mining machine.
I remember when we crowdfunded the BTC mining machine, the price of one was 8,000 yuan. I also bought it at the time, and not long after, the price of BTC started to rise. At that time, a mining machine could recover its investment in about 5 days. Many friends who have bought mining machines still have a geek mentality and use hens that lay golden eggs to study how to squeeze the performance of mining machines and increase profit margins. This inevitably requires downtime studies. At this time, I remember that the president stood up and said that everyone should not study the issue of performance improvement at this time. The most important thing is to keep the mining machine online and maintain stable currency output. Looking back now, from this point on, the business process of the currency circle began to appear.
The mining machine quickly became very popular, and someone came to me asking for 300,000 yuan to buy the second batch of futures. I told him frankly that it would be difficult to recover 300,000 yuan because there are constantly new ASIC mining machines on the market. It is being continuously deployed and launched online. More and more people are getting mining machines, and the difficulty is getting higher and higher. At that time, it was better to spend 300,000 to buy a mining machine than to just spend money to buy coins. But the friend still wanted it, but I didn’t sell it to him in the end because I knew it was a big trap. Many years later, I think about this from time to time. I don’t know if he bought a mining machine worth 300,000 yuan from someone else. But according to the current currency price, the coins he mined should have been repaid in legal currency. .
Because professional ASIC mining machines have begun to appear on BTC, the original graphics card miners who mined BTC must find the next project that can support them. I judge that LTC, which has anti-ASIC characteristics and has begun to be listed on exchanges at that time, is likely to be favored by graphics card miners. Based on this judgment, I began to pay more attention to and participate in LTC’s marketing activities.
/2/
Mr. Bi: What difficulties have you encountered since the establishment of the Wright China Community?
PZ: Before the establishment of the Wright China Community, there were some small stories. The first time I mined LTC was in a foreign mining pool, and the output at that time was still very good. Later, some of our Chinese compatriots posted (my memory may be wrong, it may be a bit biased) saying that they had built a Lite mining pool and hoped that the Chinese people would support it. I was very excited at the time, so I migrated all the machines in the GPU mining pool at the time to domestic mining pools to support us Chinese. The output at that time was still very good, and a lot could be dug in a day (I forgot the specific amount, but it was a lot anyway). However, this killer waited for us to mine in his mining pool for a long time, then closed the mining pool, escaped, and took away all the LTC I mined at that time. This is the first time I have experienced the evil of human nature in the world of blockchain.
The Great Bear Market of 2013-2017 was also a difficult period. For some old coins, after the big bear market occurred, basically no one was maintaining the community. For example, PPC, which was once very successful, is not only not accepted by new exchanges, but is also constantly removed from the shelves by old exchanges. This is a very sad thing. Projects without a community are not easy to develop.
In the big bear market that year, not only PPC but also LTC faced the risk of being delisted in large numbers. At that time, Teacher Li Xiaolai’s famous Yunbi.com delisted LTC. When Yunbi launched LTC, it was actively promoted by me and the community. Yes, but when it was taken off the shelves, it became even more helpless.
In order to prevent the domino effect, I went to many people, including the largest LTC mining farm and mining machine manufacturer at the time, as well as well-known exchanges such as OK and Huobi, and spent a lot of resources and energy to coordinate multiple relationships to ensure that LTC would not Delisted from these exchanges during bear markets. My Leyte Chinese community and I did make a very hard and strenuous effort at that time. Fortunately, Mr. Xu from OK is very supportive of me and promises to maintain LTC’s status in OK. He even hoped that I could make an appointment to meet to discuss the future development of LTC.
Here, I am very grateful to Teacher Xu for lending a helping hand and providing strong support during the most difficult period of LTC. At that time, the number of followers of the Wright Community QQ group dropped sharply from more than a thousand people to less than 400 people (roughly this number). Most people lose faith and believe they will never make it back to the top of 380, but well, I didn't give up on the promise I made back then. At that time, most people lost confidence and thought that they would never return to the peak of 380. A fan also posted a picture.
Without the strong support of the entire industry chain such as exchanges, mining machine vendors, and mining pools, LTC may not have the industry status it has today, and may even have died long ago. In order to support the development of LTC, I also coordinated with various LTC chip manufacturers and mining machine manufacturers, such as Innosilicon, Zeus Mining, Jingtong Mining, etc., all support the purchase of mining machines with LTC, and can obtain considerable profits . the discount of.
For LTC, the most difficult moment has passed. After eight years of growth, LTC has become a configurable asset recognized by the traditional financial world. Many coins of the same generation as LTC have either perished or are on the verge of extinction. However, LTC has begun to get rid of the name of a copycat and become an officially recognized blockchain system in the world. I have to say that this road is actually a narrow escape. However, today, I no longer have to worry about the survival of LTC.
/3/
Mr. Bi: How are the earliest members of Wright China doing now?
PZ: Most people have achieved financial freedom. I think this is the best reward for them to follow me and maintain the Leyte community for free during the most difficult time in Leyte. The Wright community has also produced many talents, and many people are currently working on their own projects, such as Ma Haobo's AELF, which is doing relatively well. We also wish his project success.
But there are some early members who are still rising and falling. At the beginning of the year, one of my early friends told me that I bought a house and a car through currency speculation, but by the middle of the year, he sadly told me that I had lost all my money. Here, I want to remind everyone that everyone actually has their own boundaries. Whether it is cognitive boundaries or ability boundaries, you must clearly know where your boundaries are. Our ancestors said: "He who knows others is wise, and he who knows himself is wise." This is a fact. Making money within your cognitive abilities is both possible and satisfying. Blockchain actually provides a good platform for ordinary people to make money. The easiest and stupidest way is to get three coins. One is Bitcoin, plus a mainstream currency, and the other is a fledgling, unknown low-risk, high-reward “altcoin.”
At that time, he suggested on Weibo that fans hold three coins, which means holding a few truly trustworthy coins and looking back in a few years. For ordinary people, speculating in currencies is indeed a nerve-wracking thing.
/4/
Mr. Bi: What impressed me most about the 2017 Wright Conference was that because you were in Wuhan, the Wright Conference was held in Wuhan, and Li also flew to Wuhan. Can you tell me what you know about Lee and what happened between you? story?
PZ: At the beginning, the real core team only had a few people, and now there is no fixed working group. I mostly communicate with each other via email. I will also contact you via email when it comes to technical development work. For a long time, the development work of LTC has been led by LTC. He is also a very talented man who became famous at a young age.
For the better development of Lite, while running the Chinese community that accounts for 90% of the global transaction volume and users, I often send them emails to talk about some of my development ideas and thoughts on Lite. When cooperation with mining pools was needed, I also maintained close contact with important domestic mining pools such as Yuchi.
We have worked hard to promote the implementation of quarantine verification in Leyte Island. We agreed that after the quarantine verification is successful, we will personally come to China to host the Leyte Island Summit. Now everyone knows that the last Leyte Island Summit and the Leyte Island Summit on June 1 were both held in Wuhan. When we held the first Wright Summit, many Wright fans asked why the summit was not held in Beijing, Shanghai, Guangzhou and Shenzhen, but in Wuhan. We told them: "Because PZ is in Wuhan." Now that he has become a world celebrity, and now that he is bankrupt, he can participate in the development of Wright full-time and no longer needs to work for a living. This is a very good thing for Wright.
/5/
Mr. Bi: Lee is very optimistic about the direction of anonymity, including Bitcoin, Zcash, etc. He has also said it before. Recently, Lite also launched a privacy agreement. What do you think of this direction?
PZ: Privacy protocols are very important to human society and determine whether people can retain their ultimate dignity in the future digital world. If there is no technology that can ensure that people's privacy rights are not violated, then the future will only usher in a miserable world without human dignity and freedom.
Through big data, we can understand your personal living habits, personality traits, strengths and weaknesses, personal likes and dislikes. In this way, no matter whether I obey the wishes of others or maliciously suppress me, every individual will appear extremely weak and helpless at this time.
Blockchain can carry everyone's "trusted" data, so in order to prevent personal data from being abused, privacy attributes are something that practitioners in our industry must attach great importance to.
/6/
Mr. Bi: As a witness of Lite’s history, how do you view Lite’s development in 2019-2020?
PZ: 2019 marks Wright’s eighth year on the job. These eight years of ups and downs have taught us the simplest truth: survival is the most important thing. There were many coins more popular than LTC at the time. It just so happens that many of them are "innovation coins" that everyone loves very much. Where are they today? Compared with these disappearing "innovative coins", why is Litecoin, an "altcoin" despised at home and abroad, ushering in the precious eighth year of its life? Therefore, to see whether a coin is worth investing in, you should not just look at the technical features, but also whether the community is healthy and whether someone is still insisting on leading everyone forward.
Because of the halving, LTC will inevitably see a big market trend in 2019. Similarly, BTC will also be halved in 2020, bringing about a more spectacular market trend. But what I want to share with you is that in the blockchain era, it is really not difficult to pick up gold everywhere. We encounter money-giving markets from time to time, but as the most important historical event in the history of human development over thousands of years, we can and should think and think from the perspective of human development. Fulfill the historical responsibilities that our generation should bear and become a promoter in the historical wave, rather than a Grandet who only has money in his eyes.
标签： #lite #bits #blocks #privacy #boundaries
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