Looking back on 2009

Chapter 51
Chen Zhihe did not expect that it was only a few months after Satoshi Nakamoto released the open source code of the first generation blockchain, and someone had already dug so many mines.

Just now, someone bought a pizza for 10000 BTC.

Chen Zhihe in his previous life didn't know about this. When he first learned about BTC, the price was already very high.Based on the simple views of ordinary people, he thought it was just a new type of Ponzi scheme and just laughed it off.

Now he certainly doesn't think so.

But it was beyond his expectation that it was so easy to dig.

Hurry up to find the open source website on the Internet, and Chen Zhihe read it carefully.

Because of the bad knowledge of programming in the past half a year, it took Chen Zhihe some time to understand the principle.

After downloading the e-wallet from the website, Chen Zhihe didn't think about mining by himself, all he needed was an address.

Because BTC is not worth much at this moment, and it is easy to dig out, he can take this opportunity to grab a handful of capitalism's wool.

So he sent an email to Li Baozhi.

In the email, Chen Zhihe said that he is very interested in BTC and thinks it is an interesting application of blockchain technology. He hopes that Li Baozhi can contact his friends in the United States to help him buy some, and attach his address so that the other party can send BTC is transferred to this address, money is not a problem.

Unexpectedly, Li Baozhi replied to his email very soon. He said that this is a new game, and only a small number of people in the United States are playing it. If Chen Zhihe needs it, he can help, and he also asked Chen Zhihe How much do you need.

Chen Zhihe replied, the more the better.

After a pause, Chen Zhihe thought of Lin Qingxuan who was studying in the United States, should I ask her for a favor?
After thinking about it for a while, Chen Zhihe decided to forget it. He didn't intend to expose his purchase of BTC. He contacted Li Baozhi. I don't know anything, I just think that Chen Zhiyu may be a blockchain enthusiast with a legal background.

Chen Zhihe's being so cautious is only due to his previous career, and he must do a good job of risk isolation when doing anything.

……

on Monday.

The three or four classes in the morning are about international currency and finance. The professor was talking, but the conversation got off track, and he suddenly mentioned blockchain technology.

The teacher who teaches this course is very young, named Liu Yan, in his early 30s, a Ph.D. in finance from the United States, and a top student at Stanford. It is said that he returned to China because of love.

At this moment, the country is not as introverted as it will be ten years later. Jiang University is eager for talent, so he directly gave it to an associate professor.

Of course, he also deserves the treatment. He did a good job academically, and the boring international finance class was even more interesting.

When talking about the global monetary system, he suddenly talked about blockchain technology, and he admired this kind of decentralized financial system. Chen Zhihe immediately knew that the other party was a fan of the Hayek school.

Then the professor talked about his Stanford classmate who recently talked to him about the application of blockchain technology - Bitcion.

Speaking of this, he described the principle in detail to everyone, and asked everyone's opinion whether he is a currency or not.

Generally speaking, after entering university, there are very few students who can raise their hands to answer questions, but Professor Liu's class is just the opposite, everyone likes to speak.

He gave everyone 5 minutes to think.

Soon, someone raised their hand.

A tall boy with glasses stood up.

"Teacher, in my opinion, the so-called Bitcoin is not a currency at all."

As soon as the boy came up, he gave his point of view directly.

"There are three reasons:
First of all, it is not supported by real objects like precious metal currency, unlike gold, which itself has practical value and certain scarcity;
Secondly, since it is said to be decentralized, it cannot be supported and endorsed by the country like a legal currency;

Finally, based on its convergence, its issuance is completely disordered, uncontrollable and limited, so that the macro-control monetary policy is out of the question, and we cannot control the activity of the economy through the amount of banknotes issued.

So, for the above reasons, it neither is nor should be a currency. "

Someone started the class, and the class immediately became active.

Almost everyone agrees with the boy’s point of view. One girl even thinks it is worthless, not even Q coins. At least Q coins are supported by recharged RMB, which can be used for specific consumption.

Professor Liu watched the students speak enthusiastically with a smile, but did not speak, and nodded from time to time to express encouragement to the students who spoke.

At this time, Chen Zhihe stood up.

Professor Liu has a little impression of Chen Zhihe, because Chen Zhihe has good grades, but he basically doesn't speak in class.

Nodding to Chen Zhihe, Classroom Liu indicated that Chen Zhihe could speak.

"My opinion may be different from everyone else's. I think it will definitely and will become a currency."

There was a commotion in the classroom, and many people even wanted to stand up and refute.

After hearing this, Professor Liu showed a surprised expression.Pressing it with his hands, he motioned for everyone to be quiet, and encouraged Chen Zhihe to continue talking.

"My reason is very simple. Two words, demand." Chen Zhihe said.

"It should be said that the current monetary system in the world has reached its bottleneck. The continuous oversupply of currency has caused economic overheating, which has led to financial risks and economic crises. The financial turmoil in Southeast Asia at the beginning of the century and the subprime mortgage crisis in the past two years are typical examples. "

"The downside of a national monetary system is that it inevitably creates inflation, shifting the risk onto individuals and small countries with fragile financial systems."

"So, in order to deal with this situation, personally, people will choose it as a means of resisting inflation. And, its transaction convenience is very suitable for the needs of certain special groups of people.

As far as the country is concerned, normal countries will definitely not give up the right to issue currency, but for some small countries, I even think that when they are unable to reverse inflation.Might choose to make it their own fiat currency.

It is precisely because of these needs that it will inevitably become a currency.As an excellent "challenger currency", it will appear sooner or later. "

After finishing speaking, Chen Zhihe sat down.

"Clap clap clap."

Professor Liu watched with a smile as he walked off the podium, came near Chen Zhihe, and clapped his hands.

"That's very good, have you read Hayek's "Denationalization of Currency"?" Professor Liu asked Chen Zhihe curiously when he heard "Challenger Currency".

Chen Zhihe nodded. He had indeed read this book in the library. At that time, he was still surprised. Was Hayek's thinking so advanced?

Seeing Chen Zhihe nodding his head, Professor Liu showed a hint of relief on his face, thinking that it is really rare for students nowadays to calm down and read the tome.

Looking at the time, get out of class was about to end, and Professor Liu returned to the podium.

"Everyone's speeches today were very exciting, and I learned a lot. You can think about this issue after class."

Dismissal.

However, no one came to argue with Chen Zhihe, and everyone dispersed after class.

When going out, Professor Liu called Chen Zhihe to stop and said that he would invite Chen Zhihe to have lunch together.

Chen Zhihe was a little surprised, and didn't quite understand the other party's intentions.

But he didn't show it and nodded.

……

(Unexpected disaster, a lot of content was blocked)

　A lot of content has been swallowed, and the outline is being reorganized, so the update may be a bit slow these days, everyone forgive me~
　　
　
(End of this chapter)