After reading The King of Cryptocurrencies

As soon as I got the hot book, I rushed in to read it. The overall chapter arrangement of the book is very smooth. It is probably to the extent that it can be solved by reading it carefully for two or three hours, but the ending point of the book is very strange. In the current cryptocurrency craze , all the stories are still going on.

Armstrong, the head of Coinbase, started the entire company with a simple idea, "everyone wants to get bitcoin easily". He was first established in the well-known incubator Y Combinator, and experienced the earliest disagreement with his partners. , and then gradually grew, and the internal disputes continued to gradually grow into what it is now. The whole story is very exciting, but often every chapter is read without thinking. These people in the cryptocurrency industry are fighting against ideas every day. From who to keep the private key, whether to accept supervision, handing over the customer list to the stock listing cabinet, each choice is making a different trend and model for the entire industry.

"Running Through Brick Walls" is the company's motto, but there are always many difficulties in the establishment of the company. At the beginning of the business, it is necessary to find money and people, and to maintain and modify tens of thousands of itineraries. The breakthrough at the beginning was As long as they race against physical strength and time, but with the expansion of this company in an emerging industry, they have to face not only time and money, but more problems in regulations and national supervision. Lobbying and legal battles have become the biggest The imprisoned, unregulated, proactive regulation of cryptocurrencies can sometimes seem like a daily routine for them to keep ramming the country and Wall Street to boycott this impregnable wall.

Because the time to join the currency circle was too short, I didn’t have time to go through the ICO frenzy, but many problems of Coinbase mentioned in the book gradually emerged during that frenzy. Many transaction deficiencies and various difficulties in customer service appeared one by one. The overload of Coinbase has also become their biggest problem. The busyness in the frenzy makes them have no energy and no way to rescue in time. However, after the bear market, Coinbase has made the greatest maintenance and improved more infrastructure to maintain it in the next wave of bull market. Living in your own state, the hard work and repair of the infrastructure in the cold winter are the assets that can be used in the madness of the bull market.

Coinbase's interactions with Binance, Kraken, and Mt. Gox during its growth provide some context for his current growth, allowing us to know more about these achievements in the past. But time flies too fast, the rising star FTX is rising, the emergence of various exchanges, large and small, and more and more DEX competition, the future era of cryptocurrency warring states may only become more and more intense.

Regarding the characters in the book, I still feel that it is difficult for many women to have too high a dominant position in the currency circle, and most of the positions they can do are stereotyped. I hope this industry can provide more space for female executives, maintain gender equality, and perhaps provide more diverse perspectives and perspectives in the competition of these platforms, and serve more diverse people.

Has Coinbase Really Betrayed Bitcoin? Is it an irony that cryptocurrency proponents are billionaires? I think these questions keep circling in these books and discourses. In the end, human nature is the end, these currencies are just a vehicle after all, and human nature is the crux of his controversy. At the same time, looking at the NFT boom like 2021, I found that the history seems to be surprisingly similar.