Wei Wuism: A New Business Guide "The problem in the currency circle is that everyone wants to cut leeks," Wei Wuism said to a student from the Black Horse Camp who knew thousands of Bitcoins.

He has already penetrated upstream and is unwilling to participate in ICO issuance or open a currency exchange. He directly went to Iceland and Canada to buy tens of thousands of mining machines to mine Bitcoin.

He feels that from ICO to currency exchanges, it is now extremely chaotic, with all kinds of bullshit and snake gods sharpening their knives.

The tipping point for this wave of craze was when Xu Xiaoping called on the founders he invested in the WeChat group to participate in the blockchain and "not to spread the word."

With Xue Manzi, Cai Wensheng, Chen Weixing and other big names participating in the "3 O'clock Blockchain" WeChat group as the climax of the ban, "blockchain" began to impact hundreds of millions of people.

1. Blockchain Harvest Field The myth that blockchain digital currency can create wealth a hundred times a thousand times has caused many people to suffer from "blockchain disease."

However, most people who rushed in after listening to the lies of big bosses and the media eventually found that they did not make any money and instead became leeks.

Wei Wushi has a friend who is a headhunter. He started investing in virtual currencies in August last year. As a result, he lost 80% of his principal on various counterfeit ICO coins he bought at the end of the year. Wei Wushi lurks in various currency trading groups, basically

Either I am talking about holding on to my faith, or I am waiting for a rebound... From the end of 2017 to the present, ICO currency issuance + exchanges have formed a crazy harvesting market.

The cruel food chain is like this: Large exchanges harvest money from ICO projects. Now if you want to get on a big exchange like Huobi or Binance, the cost of getting on the exchange is at least 20 million yuan, and as much as 50 million yuan.

With so much money, there are still many projects rushing to invest, because the increase in wealth it brings may be more than a hundred times.

Most successful ICO projects have paid a high cost and have to harvest a wave of money from ordinary users who participated in the investment.

Wei Wuism here explains the process and stakeholders of an ICO project: First, go to the Cayman Islands or Singapore to establish a fund as the capital operation platform and main body for issuing coins.

Find a technical team to make the coins.

(The coins issued by most projects are Tokens based on ETH smart contracts. They have no technical content and can be operated by almost everyone.) Then, write a white paper to promote how awesome and valuable your currency is.

Find cornerstone investors and private equity investors to invest, obtain initial funds, and establish a preliminary valuation.

Then find endorsements from big names and influential organizations, find media to promote, and organize communities to build momentum.

Finally, go to an exchange to conduct the ICO.

Those who engage in speculation (more than 95%) join forces with bookmakers to raise the value of the currency, and then cash out and leave.

If you want to do something (less than 5%), you should manage currency value, maintain currency upgrades, and establish investor relationships.

For example, the TRON currency TRX, Sun Yuchen, a post-90s generation who is good at marketing, used this "air currency" with no value support, used methods such as hype marketing and celebrity endorsements to increase the hype by 100 times, and then cashed out 300 million U.S. dollars at a high level, harvesting leeks.

, ran directly to the United States.

In the traditional "ICO + exchange" system, the entire system allows ordinary users to become veritable leeks.

Just like the article "Bookmaker Du Jun" that hit the screen a while ago, it exposed the market loopholes in virtual currency investment: Du Jun is the co-founder of the large exchange Huobi.com, and is also the founder of the blockchain media Golden Finance, Blockchain

Controller of investment fund node capital.

In other words, in the ICO industry chain, they control the entire chain, use cornerstones and private equity investment to incubate projects, then use media to package the projects, and finally push them to exchanges for investors to pay.

They serve as both referees and players.

In such an "ICO + exchange" system, a few people made huge amounts of money, but it also hurt the entire currency circle and dealt a fatal blow to the blockchain industry.

The recent ICO projects that have frequently failed are the best accusations of "leeks". Even the star project IOST, which was incubated by Huobi.com, plummeted by 30% directly after the ICO... 2. How to break the situation, the trading market needs to start from

Upgrading from 1.0 to 2.0 In an emerging market, some players took advantage of market bugs to harvest tens of billions of new funds in a short period of time, causing all new entrants to suffer heavy losses. Can this market continue to play?

This is tantamount to killing chickens to keep warm.

How to break the current currency circle?

Weiwuism believes that the interests of ordinary investors must be protected instead of treating them as leeks.

A healthy market is not dominated by zero-sum games, but should be dominated by the dividends from the growth of the utility industry.