The richest people on the China Rich List mostly come from the real estate and internet industries, which have always been popular choices for getting rich. However, there is another industry that has emerged and rapidly emerged in recent years, bringing huge wealth growth opportunities to people, which is virtual currency
The richest people on the China Rich List mostly come from the real estate and internet industries, which have always been popular choices for getting rich. However, there is another industry that has emerged and rapidly emerged in recent years, bringing huge wealth growth opportunities to people, which is virtual currency.
When the global financial crisis broke out in 2008, a man named Satoshi Nakamoto released a paper entitled Bitcoin: A Peer to Peer Electronic cash System. A few months later, the Genesis block of Bitcoin was born, and anyone can purchase this emerging virtual currency.
Virtual currency is a currency circulating in the online world. Unlike traditional currency, it is not issued by the government or banks, nor does it rely on paper or metal to reflect its value. The generation of virtual currency relies on specific internet companies or network algorithms, and is achieved through the use of internet technology. Although we cannot see or touch virtual currencies, it is precisely this characteristic that makes them valuable.
Although virtual currency has not been issued by the government in China, nor does it have legal payment capacity to circulate and use in the market, and its investments and transactions are not protected by law, this intangible currency is not attractive to many people. However, many people are still attracted by this novel concept and cannot help but invest and seek opportunities for wealth growth.
The value of Bitcoin fluctuates greatly, reaching a peak in history. The value of a Bitcoin once reached as high as $20300, equivalent to 140000 RMB. Even at this stage, the value of Bitcoin is still over ten thousand yuan, which has led many people to develop a strong interest in virtual currency and invest in it.
Li Xiaolai is one of the important figures in China's Bitcoin market. He became interested in Bitcoin as early as its birth, and quickly realized its potential value. It is said that he purchased a large amount of Bitcoin during the low price period, accumulating 100000 Bitcoins within a year. At that time, the value of Bitcoin was far from reaching its current level, where one dollar could be exchanged for 1300 Bitcoins.
As people compare
As the understanding and recognition of coins continue to increase, more and more people are starting to invest in this field, and the value of Bitcoin has correspondingly increased. Li Xiaolai's wealth also increased. He founded the Bitcoin Fund in 2013 and began to invest in Bitcoin. He also established columns and programs, and published many books on investment, gradually becoming a highly regarded figure in the Bitcoin field.
Li Xiaolai's success has made him the subject of reports in the Wall Street Journal, known as "the person who holds the most Bitcoin in China". Although it has not been confirmed whether he truly owns 100000 Bitcoins, his influence in the Bitcoin field is undeniable. His lectures and column programs have attracted a lot of attention, enabling him to accumulate a large amount of wealth.
However, Li Xiaolai is also controversial. He discovered its potential value in the early stages of Bitcoin and successfully accumulated a large amount of Bitcoin, but after Bitcoin reached its historical peak, he chose to cash in on time and achieve maximum profits. Afterwards, he denied the comparison of the special currency and described it as a "scam", which raised doubts among people.
Li Xiaolai himself doesn't care about this. He admits that he is a "popular online player" and believes that "consensus value" is the biggest value of the blockchain. His viewpoint is that when many people firmly believe in something, it generates value, even if these people may be irrational.
Li Xiaolai's views have caused dissatisfaction among many investors, but some people believe that his words are not unreasonable. If a thing can attract a lot of attention, it will naturally generate value. Although virtual currency does not exist in the real world, its value as a derivative of the Internet is determined by people's trust and recognition of it. This is also the reason why Li Xiaolai can succeed in the Bitcoin market. He knows how to use people's attention and belief to create value, which is also the key to his successful exit from this wave.
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