The four most famous international exchanges:

Binance INTL	OKX INTL	Gate.io INTL	Huobi INTL
China Line　APP DL	China Line　APP DL	China Line　APP DL	China Line　APP DL

Note: The above exchange logo is the official website registration link, and the text is the APP download link.

Speaking of Cai Wensheng, not everyone knows him, and he is not as famous as Jack Ma; but speaking of Meitu, in the era of face-based selfies, it is estimated that it has the same status as Taobao in many people's mobile phones. As a famous angel investor in China, Cai Wensheng, chairman of Meitu Xiuxiu, talked about his experience of missing out on investing in Xiaomi and Meituan in a conversation with Wang Feng, founder of Mars Finance last week, and commented on famous investors such as Xu Xiaoping, as well as the hottest blockchain topic at the moment. The following is an excerpt from the conversation! 

At 22:00 on May 2, Cai Wensheng, founder and chairman of Meitu and founder of Longling Investment, was a guest at the "3 o'clock Mars Finance Founding Learning Group" to answer Wang Feng's ten questions. In the conversation, Cai Wensheng talked about his understanding of blockchain and his investment philosophy in blockchain. 

Cai Wensheng believes that the essence of blockchain is based on P2P technology. This technology itself is not rare. The real revolution is because Satoshi Nakamoto used P2P technology for digital currency, which turned it into value transfer and triggered changes in the entire business logic. Although blockchain is a future, it still needs time to develop. He does not want everyone to be too optimistic and blindly invest in it in the short term. 

Cai Wensheng said that the changes brought by blockchain and Bitcoin are global. He has no idea whether digital currency can become the biggest success in the future, but he thinks that if he does not participate now, it will be the biggest risk and will become his regret.

"In January this year, I only had a single-digit Bitcoin, just for fun. When I determined that blockchain and Bitcoin are the future, I set a goal for myself to own 10,000 Bitcoins. At the peak in December, I personally felt that the price was a bit high, so I did not buy it. Later, I should have gradually built positions and kept buying as the price fell at the end of January 2018. Now this small goal has basically been achieved."

In Cai Wensheng's view, the biggest difference between investment and speculation is that when you buy a certain stock or a certain digital currency, the price keeps falling, and your mentality is that the more it falls, the happier you are, and you can keep covering your position. That is investment; on the contrary, if you regret and complain after buying and the price keeps falling, that is speculation. Of course, if you decide to invest in a certain target, you must study and analyze it carefully to strengthen your belief.

In this process, everyone must distinguish it carefully. You can't think that a project will definitely make money just because it is endorsed by a big boss or invested in a project. Such investment logic must be wrong.

Regarding the relationship between the Internet and blockchain, Cai Wensheng said that the integration between blockchain and the Internet will accelerate, and in the future there may no longer be a distinction between what is a blockchain project or what is an Internet project.

"In the next three years, every Internet company may have technology that combines blockchain. Similarly, a good blockchain project must also combine the existing Internet technology and user resources to truly grow. This is my understanding."

Although blockchain is very hot at this stage, compared with the capital invested in the Internet and artificial intelligence, the capital invested in blockchain is actually very small. Any major technological revolution will not be smooth sailing, and it will take a painful low tide to usher in real development. Blockchain and the Internet will not simply repeat, but the development route can be referenced: start with infrastructure, tool software, game entertainment, communication and social networking, e-commerce, food, clothing, housing and transportation, and finally combine with traditional industries.