6. Is the Bitcoin standard fair to those who do not have Bitcoin?

——Answers to the concepts in the article “Invite Satoshi Nakamoto to Welcome the New World”

1. Venture capitalists don’t see it that way

2. Investors in the stock market don’t see it that way either

3. People who buy gold don’t see it that way either

4. Your cognition and understanding determine your wealth

5. The lucky ones are always a minority

6. A free market is fairly

written in the back

1. Full-text links

2. Supplementary video explanation (need to over the wall in China)

Is the Bitcoin standard fair to those who don’t have Bitcoin? It is also a frequently asked question. People who don’t hold bitcoin feel it’s unfair. If the Bitcoin standard is adopted, wouldn’t those who had it earlier take cheap advantage of it?

1. Venture capitalists don’t see it that way

Venture capital investment is divided into seed, angel, A, B, and  C rounds; some have D rounds and then go public. As a seed round, the increase is also very high, thousands or tens of thousands of times. How much did Google and Microsoft rise? The market value of Bitcoin is smaller than that today, so is it unfair to buy their stocks now?

From the seed round to the listing company, the benefits of each round are getting smaller and smaller, but the risks are also getting smaller and smaller. The probability of the seed round and the angel round returning to zero exceeds 95%, and the probability of the stock returning to zero after listing is minimal. Investors set a stop loss line, and the loss can be controlled. Investors in the A or B rounds will not invest just because the previous investors’ price is lower than theirs. People in the stock market also hold the same view.

2. People in the stock market don’t think so

When stocks are listed, people who buy stocks look at the prospects and future valuation and don’t care how much the previous investors earn. What they care about is how much more it can go up. So, how much can I make? The bitcoin dollar standard scheme we designed is a stable investment scheme. It is lower than the investment risk of the stock market and higher than the return of bonds. Therefore, it is a perfect investment target. Interested readers need to read Chapters 12-13 of the original text and the previous articles in this Q&A series to understand my explanation of the low-risk and high-yield bitcoin dollar standard.

3. People who buy gold don’t see it that way either

Gold Thousands of years ago, it was possible to find a large piece of gold casually, but now it is not easy to find a gram. Whose hands did the gold end up in? Big banks have the most. Why? Determined by their cognition.

4. Your cognition and understanding determine your wealth

For those who bought Bitcoin in the early years, Wh can hold it for a long time is determined by his cognition and understanding. How many people can resist the temptation and not sell? For example, the early bitcoins were calculated according to the end of 2010; except for the coins that Satoshi Nakamoto held and lost from the private key, most of them have changed hands. Because most of the early technicians did not develop enough cognition about Bitcoin, they sold it as soon as the currency price rose. For example, Laszlo, nicknamed Big Pie brother, bought two pizzas for 10,000 bitcoins. People thought he was rich, but he posted a post asking people to donate to him. According to Sandra of the Blocktempo website, only 1.86 million bitcoins had not been moved in 10 years in December 2020. Others hold very few coins except Satoshi Nakamoto’s more than 1.14 million bitcoins and coins with lost private keys. A change of hands is completed in a cycle of 4 years. Those who are truly aware will stay put. The vast majority of people changed hands during the rapid rise. Therefore, the moving average line reflects the average market price. The turnover rate of Bitcoin is much higher than that of gold. About half of the gold jewelry is in private hands, and the turnover rate is extremely low, which means that there are a lot of “low-priced chips” in the market. Would this so-called unfair question be raised if the gold standard came? When the Bretton Woods agreement pegged the U.S. dollar to gold, no one raised this so-called unfair issue.

5. The lucky ones are always a minority

Any luck? Have. Speculators are not so lucky because they look at too short. Luck is a certainty in chance. If the Bitcoin standard succeeds, you must be lucky if you are in it. Satoshi Nakamoto has long advised us to save some bitcoins; what if it goes up? But judging from the data held, how many people understand this sentence? Most people think they are smarter than the market. Who knows whether the Bitcoin standard can be realized? If there’s a bit of a possible achieve bitcoin standard, the market will rise, and the chips you grab at that time are risks. Because the value of this story is already implied in the market price, if the Bitcoin standard does not succeed, you will lose money. If you think this story is credible, buying bitcoin today must be the lowest price because bitcoin does not yet contain the value of the story of bitcoin standard. Big money will definitely not participate in such uncertain things and will wait for the boots to hit the ground. At that time, the price was very high, and they bought a high price. Would they think it was unfair?

6. A free market is fair

Bitcoin is now more or less known to most people. Unable to count the number of people, it is guessed that billions of people should know. But how many people have bought it? To overestimate less than 100 million people. How many long-term holders are there? There are less than 10 million accounts on the chain. A stock market is a voting machine in the short term and a weighing machine in the long term. From the long-term trend, as long as free trade (except for individual countries, with no restrictions on trade) is fair. The so-called unfairness lies in personal psychological factors. The alleged injustice does not constitute an argument against the Bitcoin standard.

written in the back

Here is a brief answer to the user’s questions. To understand this article, you must read chapters 10-13 of “Invite Satoshi Nakamoto to welcome the new world” and the Q&A articles in the previous sections 1-4.

1. Full-text links

This article was published in Bitui Serial.

Chinese link:

https://www.bitpush.news/articles/tag/%E8%AF%B7%E5%87%BA%E4%B8%AD%E6%9C%AC%E8%81%AA

English link: https://en.bitpush.news/?s=Weisha+Zhu

2. Supplementary video explanation (over the wall in China)

This series of articles will be explained on Sun TV, and the papers and TV explanations are complementary. 10 episodes of the program have been made. The following is the program catalog:

Episode 1 Starting from the Bitcoin White Paper

Episode 2: Does Bitcoin Have Value?

Episode 3 The Reason for Satoshi Nakamoto’s Anonymity

Episode 4 The Root of All Evils in Fiat Currency

Episode 5: Past, Present, and Future of Bitcoin

Episode 6 Blockchain Opens Pandora’s Box; Satoshi Nakamoto Comes Out

Episode 7 Four conditions for the rapid growth of Bitcoin

Episode 8 Satoshi Nakamoto’s Age, Gender, and Nationality

Episode 9 Cypherpunk – the birthplace of Satoshi Nakamoto’s thought

Episode 10 None of the dead pioneers is Satoshi Nakamoto; he is still alive

TV corresponds to the 6 episodes of our article; that is, the program explains the article’s focus. Broadcast schedule: The broadcast schedule is as follows:

Episode 1 January 22 at 12:00 noon

Episode 2 January 25 at 12:00 noon

Episode 3 January 27 at 12:00 noon

Sun TV’s link is as follows:

https://www.youtube.com/@isuntv_hk/featur

The whole program is divided into two parts. The first part proves who Satoshi Nakamoto is, and the second part is about the Bitcoin standard. The program will continue, followed by discussions and Q&A, hoping to form a Bitcoin-based theoretical system. Users are welcome to leave messages in the TV comment area, and viewers will be selected to participate in the conversation.

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