In this, the first installment of Hodlr’s Digest — a series of stories about Nervos and $CKB from our community — we speak with $CKB holder Houmu, an early investor in Nervos and $CKB.
Homu explains to us the reasons he decided to invest in Nervos and how he has held his position even in a major cryptocurrency bull market and with $CKB breaking it’s all time high price on a number of recent occasions.
Background
Houmu’s blockchain journey began in 2013 when he purchased Avalon, the world’s first ASIC Bitcoin mining machine. He started to follow Nervos in 2018 and later became a $CKB holder.
Q1：When did you first become interested in Nervos? What attracted you back then?
Houmu: On March 20, 2018, I left a comment under a Weibo tweet from one of the founders of Nervos: “How can I invest in your project?” At that time, Nervos hadn’t even released the white paper yet, so I may be one of the first investors to pay attention to the Nervos project.
My focus was on public blockchains in 2018 and a few keywords that attracted me to Nervos at that time were: Cryptape, Jan (Xie — the chief architect at Nervos), and CMBI.
Q2: When did you start investing in CKB? What made you take the plunge?
Houmu: As mentioned above, I searched for Nervos public offering news from time to time in 2018. However, due to the bearish market and increasingly strict supervision, the public offering was not confirmed until October 2019. On November 15, I bought $CKB at the public offering price on two exchanges, but I sold when the price went down after the listing.
However, that was not the end for me as I started to take a large position in $CKB after March 12, 2020, when the economic recession caused by the pandemic affected the entire cryptocurrency market. I saw that many blockchain projects with solid fundamentals started to be underestimated. $CKB was the one I valued the most.
Q3: It has been over a year since CKB mainnet launched and we have seen a lot of opinions either way about Nervos and $CKB. What do you think of this phenomenon?
Houmu: It is not strange to see that. Where there is controversy, there is traffic, and where there is dispute, there is opportunity.
For most people, Nervos is difficult to understand. Even within the community, there are often many shallow, half-understood, or even wrong opinions about Nervos. PoW or PoS, inflation, whether to pursue DeFi or not, there is no standard answer to these issues.
Q4: When do you think$ CKB will break out in the future? What are your reasons for betting on this?
Houmu: I guess most people will say that when there are more and more dApps on Layer 2, the utilization of $CKB for state storage will increase the value of $CKB due to scarcity. But I value $CKB more as a PoW coin in the long run.
While all public blockchains are targeting ETH for performance, only Nervos is targeting BTC for upgrades. In my eyes,$ CKB is Bitcoin version 2.0, programmable Bitcoin, and this value will be reflected in a longer cycle.
Q5: The bull market is approaching. After the increase of prices of mainstream cryptocurrencies, we can also expect altcoins to rise. As you are holding a big position in $CKB, aren’t you afraid to miss the bull market If you don’t sell?
Houmu: There is no way we can make all the money. Make sure your knowledge is advanced, find an investment target, take a long position, and wait to get rich. You won’t miss the bull market, because every coin whose development team is working hard will eventually have its own bull market.
Q6: As a veteran in the cryptocurrency market, is there anything you would like to share with friends in the CKB community?
Houmu: Blockchain is about science, don’t make it a religion.
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