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What are Shanzhai Coins (Are Shanzhai Coins valuable)?

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What are Shanzhai Coins? What are the characteristics of Shanzhai Coins? Firstl

What are Shanzhai Coins (Are Shanzhai Coins valuable)?

What are Shanzhai Coins? What are the characteristics of Shanzhai Coins? Firstly, what are Shanzhai Coins? Many people believe that Shanzhai Coins mainly have the following characteristics: (1) Decentralization; (2) Anonymity; (3) Security. Shanzhai Coins, like Bitcoin, are cryptocurrencies based on the Bitcoin blockchain network, but they are not real Bitcoins; (4) They may not have actual value in certain places (such as exchanges), and there are also some things called scams. (Image source: internet)

Are Shanzhai Coins valuable?

In the article “Bitcoin: A Peer-to-Peer Electronic Cash System” a few days ago, I mentioned the term “Shanzhai Coins”. In my opinion, it is a cryptocurrency that, like traditional stocks, has certain investment value and trading attributes. But this does not mean its price is reasonable — at least from the current price, it is not an undervalued investment asset, right?

My answer is: “Shanzhai Coins are valuable.”

Why are there so many valuable Shanzhai Coins? Let’s first look at BTC, ETH, and other cryptocurrencies that were once famous because they are not true cryptocurrencies (e.g. Bitcoin). The reason these cryptocurrencies are favored is that they have a unique feature — decentralization — which allows investors to trade or purchase goods and services for themselves. However, because these cryptocurrencies are not completely controlled by users or operated as intermediaries, most people have no way to use their wallet addresses or private keys. But if you want to transfer your money elsewhere or use them in other ways, you need to consider whether there are any issues or security vulnerabilities and minimize risks. “Are Shanzhai Coins also valuable?”

In fact, most of the cryptographic assets are not real cryptographic assets, but a new financial instrument created on the blockchain that allows each participant to obtain the same things, rather than exchanging a pile of things randomly, as it used to be.” This is an interesting idea, but I think this statement is incorrect, especially in the current market environment. If there really is new technology applied to our economy, what impact would it have?

Of course, for many investors, they also want to know which projects have developed fast enough and are still growing rapidly.

For example, Ethereum founder V God once publicly stated that he wants to add ETH to his development team, “I do think Ethereum is now more suitable for beginners to read, and Ethereum is far below the current market value ranking 20th token”, pointing out that the Ethereum network still has a long way to go. “Ethereum 2.0 is in the testing phase,” he said.

But many people have opposing views on this, and some even question whether the Ethereum community needs to continue promoting the EIP1559 proposal, believing that it could prevent EIP-1559 from being approved since the proposal aims to change the current discussion about Bitcoin. Therefore, I doubt if these critics’ points are wrong.

In fact, many experts and researchers in the cryptocurrency field have been emphasizing that “Bitcoin is a great experiment that brings about massive transformative changes. As time goes by,” people are beginning to realize that this process will happen.

I believe many economists would ponder on whether Ethereum could become a core part of the future world, and its potential is self-evident. But to some extent,

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