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What is a non-fungible token (NFT)? What are the most well-known projects?

Before the advent of Bitcoin, digital information was easily copied at almost zero cost. From now on, the phenomenon of human scarcity has been renewed into the digital age. =)

 

Non Fungible Token, CryptoKitties

One of the first NFT projects to gain significant attention was CryptoKitties, an Ethereum-based game that allows players to collect, breed, and trade virtual cats.

 

Unlike criptomonedas $btc or $eth, they both create the same non-consumable tokens (NFT), which are also commonly referred to as cryptocurrency collectibles, and each non-consumable token is unique and limited in number.

 

Multiple projects are experimenting with NFTs for different use cases (such as games, digital identities, licenses, certificates, and plastic arts).

 

In addition, they can even allow some high-value items to be owned.

 

What is interchangeability in non-fungible token (NFT)?

The interchangeability means that each unit of activity is interchangeable, and there is basically no difference from each other. For example, a 10 dollar bill can be perfectly exchanged for another 10 dollar bill.

 

In the case of "irreplaceable tokens," they are cryptocurrencies with unique identifiers for each unit. This makes each unit different from the rest (ie non-consumable). It's basically NFT.

 

How does NFT token work?

There are different types of NFT tokens, the most famous being ERC-721 that works on the Ethereum network. 

There is currently an improved token called ERC-1155, which allows the same contract to have two types of tokens: irreplaceable and replaceable.

 

Where can I buy NFT tokens?

On the website of the developer of this type of token. Or in the online market, the most famous one is called Opensea (https://opensea.io/)

 

Where are my NFT tokens stored?

In wallets that contain such tokens. For example, such as Binance Trust Wallet (https://trustwallet.com/)

 

What projects are currently known to have potential?

Decentraland- is a decentralized virtual reality world where players can own and trade virtual land and other NFTs in the game.

Gods Unchained- is a digital trading card game in which cards are issued on the blockchain as NFT. 

Since each digital card is unique, players can own and trade ownership just like using a physical card.

Encrypted currency stamps-issued by the Austrian Post Office, linking the digital world with the real world. 

These stamps are used to transport mail, just like other stamps. But they are also stored on the Ethereum blockchain in the form of digital images, making them tradable digital collectibles.

Several projects of the company are tokenizing real estate companies and different scarce resources (such as water, land, etc.).

For more information, you can enter the ranking of NFT tokens on the Opensea website: https://opensea .io/rankings

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Scientist: In short, Dolphins for mating they are abnormal, they have evolved human characteristics

Dolphins should be the most friendly marine animals with humans. Those who accidentally fall into the sea, if you encounter sharks, it is probably more bad luck, but if dolphins are nearby, they may come in groups to save you, and why do dolphins? Will save people, even scientists can't explain it!

However, according to a recent study, the evolution of dolphins seems to be beyond the expectations of scientists. According to scientists, dolphins already possess some of the characteristics of humans!

 

In the ocean, dolphins have evolved human characteristics?

Dolphin is a collective term for some toothed whales, so dolphins are a kind of whale, and there are dozens of species under the dolphin family. 

For example, the baiji in our country is also a kind of dolphins. Their body length ranges from about 1 meter to 30 kilograms of dwarf dolphins. 

At 9.5 meters and weighing 14 tons, the killer whale uses echolocation and has a high IQ, complex brain sulcus, good memory, and is very friendly with humans.

 

Personality Characteristics of Dolphins

Psychologists at the University of Hull have studied 134 bottlenose dolphins in eight countries for nearly a decade. 

It turns out that their curiosity, sociality, and "personality characteristics" are completely mosaic with the "extroversion and favorability" of primates, which means that they also have their own unique personality characteristics.

They found that, just like primates, these aquatic mammals such as dolphins show curiosity, sociality and personality traits, which are a combination of "extroversion and affection." 

Generally, these professional words used to describe monkeys and apes. Previous studies believed that they have "personality characteristics" similar to those of humans.

 

Are Dolphines social primates?

According to Dr. Blake Morton, a psychologist at the University of Hull, animals like dolphins are as social as primates. Living in groups and socializing contributes to the development of dolphins’ intelligence. 

The "group living" of chimpanzees and bottlenose dolphins is called a "fission and fusion" society. Their group size and organization members often change during their life cycle: split or merge.

 

Thesis of Dr. Blake Morton's team on Dolphins

The psychological characteristics of human beings include "Openness to experience", "Conscientiousness", "Extroversion", "Agreeableness" and "Neuroticism" , The last one is also called neuroticism.

 

The results of the study of 134 dolphins (56 males and 78 females) by the researchers are that the characteristics of bottlenose dolphins are almost consistent with this model. 

The openness, sociality and emotional instability are the same as those of humans, but the fourth Directionality, which is a mixture of high earnestness and low neuroticism, is unique to dolphins. 

Despite this, Dr. Morton still said that dolphins are very similar to humans, and that dolphins, like other primates, have a much greater need for the brain than to complete the basic functions of the body!

Dr. Morton said that studying the smartest animal in the ocean helps to understand ourselves.

 

Dolphins with human characteristics, how do they mate?

Dolphins are the cutest marine animals, but scientists define them as one of the most "perverted" animals, especially male dolphins, which are not much different from "beasts". Sorry, dolphins are actually beasts!

The bottlenose dolphins mentioned above have always adopted violent behavior in the matter of reproduction. 

A group of adult male dolphins often surround the female dolphins in groups, and then flap the female dolphins with their fins, or even directly Crash them until the female dolphins cooperate to reproduce. 

Although the male dolphins are very violent, the time is very short. It only takes 10-20 seconds to end the battle.

It is said that this is due to the special structure of the dolphin’s genitals. 

For example, the male dolphin’s genital muscles are very strong and can even hold things, while the female dolphin’s nine bends and eighteen bends, the internal muscles can move on their own. 

This male dolphin can move by itself in just a few seconds. Surrendered.

 

 

In addition to violence, male dolphins are sometimes homosexual. They may even find a same-sex to live, or they can use the carcasses of other animals to solve problems on their own. 

Of course, it is normal to have unethical behavior towards their offspring or previous generations, so Zoologists say that dolphins are one of the most chaotic species of animals, even more chaotic than bonobos!

 

 How do humans treat cute dolphins?

In addition to being a little messy in the relationship between the sexes, the dolphin, a highly intelligent animal, is not harmful to humans. It can save your life in case of danger, so it is a good friend! But how do humans treat them?

 

The world’s large-scale hunting of dolphins is the Faroe Islands and Japan, especially the latter, where more than tens of thousands have been killed. 

For example, there were 13,080 whales and dolphins hunted across Japan in 2007, of which the number of dolphins hunted in Taiji Town was 1569, the documentary "Dolphin Bay" was shot in Taiji Town, of course, using the form of sneak shots, thus showing the bloody process of Japan's bloody hunting of dolphins before the eyes of global audiences.

However, even after it was made public, Japan did its own thing, and the so-called "scientific whaling" in the South Pacific continued madly. 

After all, this kind of international conventions are honestly followed. For countries with no lower limit, there is no restriction. Forceful.

Killer whales are also called killer whales, but they have no real record of killing people in the ocean. However, in the summer of 2020, there was a frantic attack on sailboats by killer whales near the Strait of Gibraltar. 

There were more than 40 incidents throughout the summer, but they only attacked the rudder. Swear not to stop without tearing the rudder to pieces!

According to the biologist Dr. Renault de Stephenis, the companions of this group of killer whales frantically attacking the rudder of the ship were injured by the rudder of the sailing ship, so they are revenge for their companions. This may lead to a result, this kind of high IQ Once animals think that humans are enemies, then our activities in the ocean will be greatly hindered in the future, after all, killer whales can easily tear people to pieces.

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Without viruses, there would be no human beings today

Reference News Network reported on March 1 that the US "National Geographic" magazine published an article in the February issue of "How Viruses Shape Our World". The full text is as follows:

 

Imagine what a virus-free earth would be like for Humans

The result is not as clear as you think. In fact, we live in a world of viruses. There are so many types of viruses that are countless. 

In addition to the huge number, the virus also has a significant impact. 

For life on earth, including humans, many viruses are not only harmless, but also bring evolutionary advantages.

 

Structure of Coronavirus

Without the virus, it is difficult for us to survive; without the virus, we cannot get out of the primitive mud. 

For example, there are two segments of deoxyribonucleic acid (DNA) derived from viruses, and they are now found in the genomes of humans and other primates. 

Surprisingly, without these two pieces of DNA, there would be no pregnancy. Even more surprising is that another type of viral DNA helps to pack and store memories. 

There are other genes from viruses that promote embryonic development, regulate the immune system, or fight cancer. Their significance is only just now known.

 

Facts have proved that viruses have also played a key role in triggering major evolution. If all viruses are eliminated, the biodiversity of the earth will collapse suddenly, as if all the nails of the beautiful wooden house were suddenly removed.

 

"What is a virus" is difficult to define

To recognize the ever-changing viruses, we must first solve the most basic problem: what is a virus and what it is not. 

It is relatively easy to figure out what viruses are not. They are not living cells. Cells contain multiple sophisticated mechanisms, including the synthesis of proteins and the execution of specific functions according to the cell type. 

Bacteria are also cells, with similar characteristics, but their structure is much simpler. Viruses are different from them.

 

Viruses are easy to describe, but difficult to define. Each virus particle contains a piece of genetic instructions. 

The instruction is either DNA or another information-carrying molecule ribonucleic acid (RNA), which is wrapped in a protein shell called a "capsid." Some viruses have an envelope outside the capsid, which protects the virus and helps it attach to cells. 

After the virus enters the cell, it will occupy the cell's "three-dimensional printing" mechanism that converts genetic information into protein. Only in this way can it replicate itself.

 

If the host cell is unlucky, many new virus particles will be produced. New viruses spewed out and the cells were reduced to wreckage. 

It is this kind of damage caused by the new coronavirus to human respiratory epithelial cells, which also explains to a certain extent how the virus becomes a pathogen.

 

But if the host cell is lucky, the virus may just stay in this stable residence, or go dormant, or reverse engineer its tiny genome into the host's genome, and then wait for the opportunity. 

The latter possibility has multiple effects on genome mixing, evolution, and even our sense of identity as human beings.

 

Cells and viruses love and kill each other

Viruses bring innovation, but cells are responding with innovations in their own defenses, so this is an "arms race" that is moving toward an increasingly complex. 

Many scientists assume that viruses have achieved major evolution through "virus pickpocketing", that is to say, the virus in the organic matter it infects, fishes a DNA here and a DNA there, and then applies the stolen gene fragments to itself Genome.

 

But Patrick Fortel of the Pasteur Institute in Paris suggested that perhaps more common is reverse theft, in which cells obtain genes from viruses. Scientists such as Fortel also hold a more thorough view: viruses are the pacesetters that contribute to genetic diversity.

 

Horizontal gene transfer

This view holds that in the past billions of years, viruses have stored new genetic material into the genome of cell organisms, thus enriching the evolutionary options of cell organisms. 

This peculiar process is a phenomenon called "horizontal gene transfer". Horizontal gene transfer refers to the lateral flow of genes between different gene sequences, while vertical gene transfer is a more common way of inheritance from parent to offspring.

 

Fortel et al. proposed that viral genes have been "overwhelmingly" flowing to the cell genome, which may help explain some major evolutions, such as the origin of DNA, the origin of cell nuclei in complex organisms, the origin of cell walls, and perhaps even the tree of life The differentiation and so on.

 

There is a retrovirus among viruses whose RNA genome works in the opposite way to the conventional one. 

The conventional method is to use DNA to generate RNA, which then acts as a messenger to instruct the "stereoprinter" to synthesize proteins. 

But retroviruses use their own RNA to generate DNA and then integrate the DNA into the genome of the infected cell.

 

Some retroviruses infect germ cells, thereby embedding their DNA in the host's heritable genome-which brings about a major evolution. These embedded gene fragments are called "endogenous" retroviruses. If they are combined with the human genome, they become "human endogenous retroviruses" (HERV).

 

8% of human genes come from viruses

 

8% of the human genome is the DNA of this virus. In the process of evolution, retroviruses inserted them into our genetic sequence. Each of us carries 1/12 of HERV, and one of the genes with a relatively profound impact is syncytin-2.

 

A certain gene initially helped the virus to fuse with the host cell, and later entered the genome of ancient animals. This gene is then transformed to produce a similar protein, which helps cells to fuse, form a special structure, and eventually evolve into a placenta, opening up a new possibility for some animals: pregnancy in the body. This innovation has a profound impact in the history of evolution, allowing females to conceive offspring wherever they go, instead of leaving the developing offspring vulnerable and helpless as insects and birds leave their eggs in their nests.

 

This gene was first derived from an endogenous retrovirus, and was eventually replaced by other similar genes that are more suitable for this role. Over time, the new reproduction model continues to improve, and the placenta also evolves. Among such genes obtained from viruses, there is syncytin-2. There are two types of syncytin that help human cells fuse and form the placental layer near the uterus. This unique structure is responsible for connecting the mother and fetus, absorbing nutrients and oxygen, expelling waste and carbon dioxide, and possibly protecting the fetus from the mother’s immune system. Evolution to implant viral elements into humans is an effective design that is almost miraculous.

 

Studies have also found that there is evidence that the viral fragments produced by another human endogenous retrovirus, HERV-K, exist in the initial human embryos, or play an active role in protecting the embryos from viral infection, or Is it helpful to control fetal development, or both.

 

If 8% of your and my genome are retroviral DNA, then the notion that humans are unique (not to mention supremacy) may not be as conclusive as we believe.

 

Is the virus a blessing or a curse?

 

Of course, this evolutionary flexibility also has a downside: Sometimes viruses may change their hosts, jump from one organism to another, and become pathogens for new and unfamiliar hosts. This process is called "spillover." The transmission of viruses from animal hosts to humans is the source of most human infectious diseases.

 

In the original host, the virus may wait quietly for thousands of years, and the number and impact are very limited. The virus may reach an evolutionary compromise with its natural host, in exchange for its own safety by not causing trouble. But in new hosts, such as humans, the virus does not necessarily comply with the original agreement. If the virus not only replicates, but also spreads between people and groups of dozens of people, it constitutes an outbreak; if it sweeps across a certain community or country, it will form an epidemic; if it rages around the world, it will cause a major plague . This is the case with the new coronavirus.

 

Therefore, the virus has to ask and pay. It is difficult for viruses to return to their place on the tree of life. Perhaps the reason is that their life course is not completely tree-like. The tree diagram is just our traditional way of interpreting evolution, because Darwin has become the golden rule. But even as great as Darwin, he knew nothing about horizontal gene transfer. In fact, he knew nothing about genes or viruses.

 

Now we realize that everything in the world is quite complicated. Even a virus that is so simple at first glance is so complicated. If we see that the complex performance of viruses makes us humans understand the intricacies of nature more clearly, and if we think that the virus genes in our bodies can partly dispel our sense of indifference, then I ask you to judge whether viruses are a blessing or a curse.

 

 

Cover of the February issue of National Geographic magazine

WHO expert: Nearly 10% of the world's population has antibodies to the new coronavirus

According to a report from the Russian Satellite Network on March 1, the chief scientist of the World Health Organization Sumia Swaminatan said that nearly 10% of the world’s population already has antibodies to the new coronavirus, and continued vaccination is the only way to achieve "collective immunization" .

 

10% world's population has antibodies to novel coronavirus: WHO

In Palermo, Italy, people are vaccinated against the new crown in an orderly manner in the hospital. 

According to reports, Swaminatan pointed out in a live interview on WHO's social media accounts that the organization is tracking research on the source of infection in several cities around the world.

 

WHO tracking seroepidemiological studies

Swaminatan said: "WHO is tracking these seroepidemiological studies. According to the latest statistics, there are about 500 items. If you put them all together, you will find that only nearly 10% of the world's population has antibodies to the new coronavirus. ."

 

Swaminathan of WHO pointed out: 

“Of course there are places where 50% to 60% of the population has been infected by the virus and have antibodies, such as densely populated urban areas. But it cannot be considered that the whole city, province, state or country has achieved this. Collective immunization.” 

She explained that residents of such settlements who do not have antibodies are still at risk of infection when they go out.

Swaminatan emphasized that vaccination is the only way to achieve collective immunization on a global scale.

Update on Brazil Germany China and USA Coronavirus

Brazil discovers a new variant of the new coronavirus

According to Brazilian media reports on the 14th, Brazilian and British researchers discovered a new type of P.1 when analyzing samples of the new crown virus collected from Brazil's Amazon. Mutated new coronavirus.

 

This research has been published in a "virology" online forum dedicated to discussing virus evolution and other related content. According to the researchers, of the 31 new coronavirus-positive samples collected in Manaus, the capital of the Amazonian state, from December 15 to 23, 2020, 13 tested the mutant new coronavirus P.1. 

This mutant virus carries multiple mutations such as E484K, K417T, and N501Y, and has some similarities with the mutant new coronaviruses found in the United Kingdom and South Africa.

 

Japan recently discovered that four passengers entering the country from Brazil were infected with a mutated new coronavirus, which is not exactly the same as the mutated new coronavirus found in the United Kingdom and South Africa. 

Researchers in Brazil and the United Kingdom speculated that these four people may be infected with the P.1 mutant new coronavirus.

 

Researchers are currently analyzing the characteristics of this mutated new coronavirus, such as whether it is more infectious and whether it will affect the effectiveness of the existing new coronavirus vaccine.

 

The new crown epidemic data released by the Ministry of Health of Brazil at 18:25 on the 14th showed that there were 67,758 newly confirmed cases in the country within 24 hours, and a total of 8,324,294 confirmed cases, 1,131 new deaths and a total of 2,070,09 deaths, a total of 7,329,703 cured cases.

 

Important finding! German bioinformatics scientists discover new weaknesses in the new coronavirus

Recently, German bioinformatics scientists have used computer models to identify an enzyme in the human body that is essential for the reproduction of the new coronavirus. 

If this enzyme is inhibited, the virus will stop reproducing without affecting the host cell. The research helps to find new ways to fight the new coronavirus infection.

 

In addition to vaccines, finding effective drugs for the treatment of new coronavirus infections is also one of the important means to overcome the epidemic. 

Now, Dr. Dräger and his team from the German Infection Research Center and the University of Tübingen have discovered a weakness of the new coronavirus through a novel method that can be used to develop targeted drugs. 

Bioinformatics scientists used computer models to identify a human enzyme that is essential to viruses. 

Dr. Dräger said: "If we turn off this enzyme, guanylate kinase 1 (GK1), the virus will stop reproducing without affecting the host cell."

 

 

The research team led by Dräger has been conducting research on the new coronavirus since January 2020. He is also a young professor at the University of Tübingen, responsible for computer-based systems biology research, focusing on optimizing biotechnology processes and molecular levels. The development and progression of the disease. They successfully developed an integrated computer model with the new coronavirus and human alveolar macrophages. 

Macrophages are mainly responsible for the defense against foreign bodies in the alveoli, Dräger said: "(Previously) there is already a complex computer model of these macrophages, and we have further developed it in order to study the new coronavirus."

 

The starting point of the model is that the virus has penetrated into the host (ie, the human alveolar macrophages in the model) and has been reprogrammed. 

If the virus wants to produce new viral particles and spread, then it must use materials from the host and force the host cell to produce new viral components. 

Dräger said: "The biochemical reactions used by the virus in the host have been integrated into the model. 

We first analyze the components of the virus, then calculate the materials needed to produce the virus particles, and look at the biochemical reactions in the host cells during the virus infection. Changes."

 

In the so-called flow balance analysis, scientists systematically tested which biochemical reactions occur differently in infected cells and uninfected cells. Through these reactions, they can start further experiments. 

By specifically shutting down selected reactions, they tracked processes that are particularly important to the virus. 

For example, when guanylate kinase 1 is turned off, virus reproduction can be completely prevented. 

In alveolar macrophages, this enzyme plays an important role in the metabolism of ribonucleic acid (RNA) components, so it also plays a decisive role in the composition of new coronavirus RNA.

 

Dräger explained: "Without the GK1 virus, it cannot replicate, but human cells can switch to other biochemical and metabolic pathways." 

If you want to use active ingredients to inhibit enzymes without causing adverse side effects to the human body, this is an important prerequisite. Currently, the Dräger team is collaborating with Dr. Berhard Eilinger of the Fraunhofer Institute of Molecular Biology and Applied Ecology to test the effectiveness of inhibitors against the new coronavirus. 

Some enzyme inhibitors are known. Fraunhofer Research in Hamburg has a complete library containing more than 5600 active substances. 

The most important thing is that all these substances have been approved for safe use in humans.

 

Even so, after scientists find suitable active ingredients in the laboratory, they must conduct rigorous tests. First in animals, then in humans. 

Because only in this way, people can fully grasp the interaction between the active ingredients and the immune system. 

Experts predict that if all goes well, this drug against the new coronavirus may be approved as early as the end of 2021 after clinical trials. Ehringer explained: "Maybe we can't fight this virus 100%, but only prevent 90% or 85% of the virus from reproducing. 

But as long as we buy enough time for the immune system, the result will be obvious. In addition, it is worth looking forward to. In addition, this basic method for the virus can be applied to all mutations of the new coronavirus."

China COVID Official: timely, adequate and accurate protection of the new crown virus vaccine and vaccination costs

According to the WeChat message of the National Medical Insurance Administration, on February 25, the National Medical Insurance Administration organized a national video conference on the protection of new coronavirus vaccines and vaccination costs to ensure the protection of new coronavirus vaccines and vaccination costs. 

Work is scheduled and deployed. Require timely, full, and accurate protection of vaccines and vaccination costs as the goal, and be brave to explore new paths, create new methods, take new measures, use full embroidery skills, and do good things well.

Source: WeChat ID of the National Medical Insurance Administration

 

Li Tao, member of the Party Leadership Group and Deputy Director of the National Medical Insurance Administration, attended the meeting and delivered a speech. 

Responsible comrades from relevant departments of the National Medical Insurance Bureau, Ministry of Finance, and National Health Commission attended the meeting. 

Responsible comrades from various medical insurance, finance, health and health departments attended the conference.

 

Li Tao pointed out that the implementation of free vaccination against the new coronavirus is a major decision and deployment made by the Party Central Committee and the State Council. 

Doing a good job in the protection of new coronavirus vaccine and vaccination costs is the primary political task of the current medical insurance department.

 It is necessary to have a high sense of political responsibility and work enthusiasm, and to ensure timely, full and accurate protection of vaccines and vaccination costs, and be brave to explore new paths. 

Create new methods, adopt new measures, use full embroidery skills, and do good things well.

 

The meeting called for the establishment of a joint work mechanism for medical insurance, finance, and health departments, clarify the division of responsibilities, refine the work plan for cost protection, and unblock information transmission channels. 

Strengthen the dynamic monitoring of the progress of vaccination and the use of funds, and effectively ensure that the vaccination and vaccination costs are settled in time and in full. (China-Singapore Jingwei APP)

Jeremy Lin was criticized as "new crown virus", systemic racial discrimination is everywhere in the United States

On February 27, local time, Jeremy Lin, an Asian-American basketball player, posted on foreign social media that he was called the "new crown virus" by another player in a recent game, and asked about this: racial discrimination in the United States "someone is listening "?

 

The tracing of the source of the new crown virus is a scientific issue, and many studies have shown that the new crown virus has appeared in many countries around the world long before the outbreak in Wuhan. 

However, "theory of origin" has long been used by some people as a weapon to attack and slander China. Jeremy Lin was also scolded for an Asian face, which really made people angry.

 

In fact, since the outbreak of the epidemic, Asian groups have suffered discrimination and even hate attacks for wearing masks, and have also been regarded as "scapegoats" for the virus. 

Statistics show that from February to December last year, there were at least 3,000 hate crimes against Asians in the United States.

 

At the end of January this year, an 84-year-old Asian man died after being attacked by a young man while walking in a community in San Francisco. 

On February 6, a 26-year-old Yale University Chinese graduate student Kevin Jiang was shot and killed in New Haven. 

On February 25, an Asian man was assassinated in Manhattan. The victim was in critical condition after being sent to a doctor.

It is hard to imagine that in a civilized society of the 21st century, in a country that claims to be the number one in the world, violence is so frequent and ethnic. Discrimination is so deep-rooted.

 

Some commentators believe that Asian Americans are currently facing two viruses: the new crown virus and the racist virus, and the latter is more "difficult to cure". In the United States, discrimination against Asians has a long history. 

As early as 1882, the United States signed the infamous Chinese Exclusion Act, which was not abolished until 1943. 

The real apology waited until 2011. The two houses of the U.S. Senate passed an apology case separately, but in the bill passed by the Senate, the word apology was not used, but a lesser degree of regret.

 

Even an apology is unwilling, and actual equality is even more distant indefinitely. An American equal rights person bluntly said: For a long time, Asian communities have been systematically excluded from structural power. In recent years, minorities such as Asians have all suffered undue unfair treatment in terms of education, medical treatment, and work. 

During the epidemic, ethnic minority small business operators were often excluded from the government's rescue plan. 

According to the Fed report, affected by the epidemic, about 54% of white-owned companies are currently financially "fair" or "poor." But this proportion is 79% of Asian-owned companies, 77% of African-owned companies, and 66% of Latino-owned companies.

 

The United States has always been known as the national melting pot, and many Americans were proud of the diversity of society. But history and reality have proved that as a country of immigrants, the race relations in the United States are actually quite fragile. 

Racial discrimination and xenophobia are everywhere, severely tearing American society. 

Even after experiencing violent incidents and protests, "political correctness" can hardly be reflected in reality. Even as a minority Obama came to power, he failed to escape the fate of poverty, unemployment, discrimination, social neglect, and violence among African Americans. 

Even he himself had no choice but to admit that the "dream of racial equality" had not yet been completed.

 

"All men are created equal", embedded in the first paragraph of the second paragraph of the US "Declaration of Independence". 

However, this equality must always be guaranteed and maintained by the powerful forces of the government and society. 

However, in the Western world, capital controls the economic and social cycle of a country, and the objective existence of exploitation makes resources inevitably gathered in a few people. 

The "mountain" class enjoys "positive bonuses" that are conducive to wealth appreciation, such as technology, finance, and tax avoidance. 

The "Matthew effect" of class solidification is increasing. The "golden master politics" in the United States has also intensified class antagonism. 

The seemingly democratic "one person, one vote" is actually "one dollar, one vote." Political parties that perform on stage will only serve large consortia. Minorities and the lower-level people do not. "Spoken person". 

The deep ills of the system are almost determined, and neither the government nor the people have the motivation to continuously improve the racial ills.

 

After the new administration of the United States came to power, President Biden issued multiple executive orders aimed at promoting racial equality in American society. 

However, the US Department of Justice took the initiative to withdraw the lawsuit against Yale University for discriminatory behavior in the admissions process. 

Some commentators pointed out that the "equality" practiced by the Biden administration does not give equal treatment to all ethnic groups, but allows "racial differences." When the government has implemented "racial preferences", can society get better?

 

 

The opponent has gone ashore to watch, and Xiaomi is still in the same place to "kill monsters and upgrade"

"Monkey-playing" in the mobile phone circle is getting worse. Let's talk about this charging head. On the eve of Xiaomi's release of Mi 11, Lei Jun accidentally revealed that he might not send the charger, and it was fry for a while. However, in order to calm the "public anger", the globally popular company Xiaomi is very clever to provide a package version option, an additional independent charging head, but from the packaging design, Xiaomi Mi 11 has long planned not to send a charging head. 

Otherwise, how could the charging head of the set version be independent?

Of course Xiaomi can dump Apple and make Apple a bad guy, but it still can't hide the desertedness of the entire mobile phone circle. 

Except for Xiaomi's active promotion of Xiaolong 888, other mobile phone manufacturers seem to be absent-minded. 

Usually at this time, Xiaomi's opponents will ridicule them, and Xiaomi will also respond to them. This script has been repeated many times. But this year is obviously different. 

Even if Lu Weibing emphasized that “the first release of Mi 11 is very different from the first release”, in order to stimulate the opponents, Xiaomi's opponents seem to be "intellectual" and silent.

 

For example, vivo focuses on the X60 using Samsung Exynos 1080; Honor, which often interacts with Xiaomi, is undergoing a brand change and is also busy with the release of V40 recently. 

At the same time, OPPO has gained a lot in the European market. Data in the third quarter of this year showed that it had the fastest growth among the top five mobile phone brands, with a year-on-year growth of 396%. 

There was news that OPPO was actively increasing orders and had no time to take care of it. As a result, the usual excitement did not reappear.

 

Is the mobile phone industry going to change? 

Let's first look at what industry leaders are doing recently. On the one hand, Huawei has been suppressed and began to exert efforts to operate the operating system under the condition of limited hardware expansion. 

At the Huawei Developer Conference on December 16, Hongmeng OS2.0 Beta was announced, officially announcing that its own operating system will be stationed in mobile phones, and it is also compatible with Android apps. The most important thing is the extended connectivity of the IoT, which can be seamlessly connected with a "touch", which is a demonstration to Google's Fuchsia in advance.

 

Just about a week before Huawei announced the Hongmeng OS2.0 Beta, Google also open sourced Fuchsia. According to Google’s plan, Fuchsia is not used to replace Android, but it can cover Android. 

It is an operating system that attempts to open up various smart devices. . At this level, it is similar to Huawei's Hongmeng.

 

On the other hand, Google's first open source Fuchsia also has deep meaning. It has long been reported that the number of IoT devices and the amount of data in the future will greatly exceed the scale of current mobile phones. 

In the future, mobile phones will be used as a super terminal to take on the important task of connecting and controlling various IoT devices. 

To this end, Google has been preparing for 5 years, but contacting Google is currently facing antitrust investigations and factors such as the unsuccessful development of AI and smart driving business. 

At this moment, raising Fuchsia's popularity again is more like frustrating other new businesses rather than keeping Fuchsia always released. In the right place.

 

Apple, which has earned most of the profits of its smartphones, is also beginning to think that the car it is going to do will finally land, and it may be released as early as September next year, which is two years earlier than Guo Mingqi's expectation. 

The three companies that can change the world in the field of mobile phones have coincidentally looked beyond mobile phones and began to ride a donkey to find horses, weaken the status of mobile phones, and extend their tentacles into other industries. 

What has happened in the mobile phone industry has polarized the top manufacturers. 

Some of them seem to be wandering, and some of them continue to fight the defense of mobile phones. 

Does this mean that the turning point of the industry has come ahead of schedule, has Xiaomi's ongoing "fighting with monsters and upgrades" changed?

Others are hoarding technology, Xiaomi is hoarding money

 

Google and Huawei are making technical reserves (Huawei is also hoarding goods), Apple is doing cross-border exploration, Xiaomi is hoarding money, and the prelude to the rising smoke is indeed a bit nervous.

 

Shortly after the release of the strong 2020 Q3 earnings report, Xiaomi quickly carried out a financing operation. This was the first refinancing of Xiaomi after its listing. 

It is reported that Xiaomi was seeking to raise up to US$4 billion through the allotment of shares and the sale of convertible bonds. 

Part of the plan is to place 1 billion shares of stocks on a first-to-new basis, with a price range of 23.7 to 24.5 Hong Kong dollars per share. 

The other part is the signing of a convertible bond subscription agreement after the market on December 1, and the issuance of a seven-year zero-coupon convertible bond of US$855 million. This financing action also lowered Xiaomi's share price by 7%.

 

Despite causing dissatisfaction in the secondary market, Xiaomi still pushes forward strongly. 

According to Xiaomi's introduction, this financing is mainly used for: increasing operating capital to expand business; investing to increase market share in major markets. 

As for the strategic ecosystem and other general purposes of the company, it is a cover. The first two are the key. Then, Xiaomi conducted a series of quick operations.

 

On the afternoon of December 2nd, based on this financing, Xiaomi issued an organizational adjustment document, involving key elements such as the group's general office and the upgrading of the mobile phone manufacturing engineering department to the intelligent manufacturing department. 

Among them, the general office of the group established by Xiaomi is considered to enhance the status of public relations (this is easy to associate with the negative comments of a certain Xiaomi executive). 

And once again to enhance the status of the manufacturing department, there are intentions to deal with new challenges. 

However, Xiaomi's slightly impatient action is not at all like a happy face after financing. Instead, it writes anxiety on his face.

 

The situation may be more severe than imagined. For example, two days before the release of Mi 11, Lei Jun revealed that the included charging head was cancelled. But this is more like an early decision, not a temporary intention, because the upstream supply chain is really cold. 

Even if Lei Jun is kind and wants to send the charger, I am afraid that he has more than one heart and is not enough-the upstream components are starting to be out of stock.

Large factories are operating ahead of schedule. Huawei stockpiled large-scale stocks in advance, borrowing the banner of the US ban, and also caught up with the rising cycle of components. 

According to Huawei's own information, in the first half of 2020, Huawei's stockpile quota reached more than 180 billion yuan, which also led to a substantial increase in global sales of flash memory by 9%. 

Xiaomi also followed the trend and hoarded its goods. On the surface, it meant that Huawei had withdrawn its market share, but it also accidentally hit the bullseye of this price hike. 

So before the release of Xiaomi Mi 11, Xiaomi showed a rare generosity, saying that it could buy the machine soon, instead of "playing a monkey."

 

It is said that this time Xiaomi's stock of up to 240 million units is not like simply following Huawei. When it comes to Xiaomi’s precise financing of US$4 billion this time, it has the purpose of expanding its market share. 

From this point of view, it is sufficient for Xiaomi to stock up in advance. This premeditated plan can also be confirmed by its 2019 Q4 financial report. The quarterly financial report showed that its inventory increased by 6.344 billion yuan in the fourth quarter from 26.241 billion yuan in the third quarter to 32.585 billion yuan. 

Considering that Xiaomi has already cleared the inventory of 4G mobile phones and other stocks, and 2019 is a period of low component prices, "monkeys" such as Xiaomi have also been quietly hoarding stocks.

 

Xiaomi has to refine the supply chain

Without the experience of the sharp drop in 2016, Xiaomi may not be so calm in dealing with this year's supply chain tension. 

It is no coincidence that Lei Jun repeatedly mentioned the supply chain in public. For example, at the Xiaomi Core Supplier Conference on October 18, 2020, Lei Jun mentioned the supply chain again, but used the new wording "three years of supplementary lessons" and used a reborn to describe the current Xiaomi supply chain. But it is not a reborn, will be verified soon.

 

Because the current supply chain environment is extremely embarrassing for Xiaomi in 2016-components have risen in price and are out of stock. Upstream suppliers generally announced the implementation of new prices on January 1, 2021, and even ST has joined the price increase army. 

As for the MLCC (Multilayer Ceramic Capacitors) and LTCC (Low Temperature Co-fired Ceramic Substrates) that can be used on various platforms, they are starting to be out of stock. 

The lead time of LTCC is as high as 20 weeks, and there will be more than 1 billion out of stock next year.

 

At the same time, affected by the continued tight production capacity of 8-inch wafers, MOSFETs, driver ICs, power management ICs and other components have heard news of price increases. 

After the iPhone 12 went on the market, it was delayed in November due to the shortage of power supply chips. Then, the shortage of chips spread widely in the consumer power supply field. 

Power Semiconductor’s Chairman Huang Chongren said that the current wafer production capacity has become unbelievably tight, and customers’ demand for production capacity has reached a level of panic. 

It is estimated that from the second half of next year to the second half of 2022, the logic and DRAM markets will be out of stock to an unimaginable level. 

"International Electronic Business Information" also published an article showing that global foundry production capacity is in short supply, including TSMC, UMC, World Advanced, Power Semiconductor Manufacturing and other foundries with full orders in the fourth quarter. 

Prior to this, Huawei defensively stockpiled and some small and medium-sized manufacturers followed suit, which also pushed up component prices and tension.

A price increase war is inevitable.

Source: Essence Securities Research Institute

 

"Intelligent Relativity" sees that the production capacity of 5G mobile phones and new energy vehicles has climbed, contributing most of the price increase momentum. 

5G mobile phones generally use 30% to 40% more components than 4G. For example, LTCC will even increase by 3-5 times year-on-year. 

On the other hand, the rapid growth of new energy vehicles has stimulated the penetration of components in the automotive field. For example, for MLCC components, the demand for new energy vehicles is more than 30% higher than that of traditional fuel vehicles, while the consumption of MLCC and LTCC in automobiles and 5G mobile phones is increasing simultaneously, leading to a shortage. 

The automotive and mobile phone industries have begun to compete head-to-head on the supply chain side.

Source: Prospective Industry Research Institute

 

In early December, North and South Volkswagen was preparing to suspend production for a period of time because it did not have ESP accessories, which visualized the situation in which the auto industry and the mobile phone industry compete for chip production capacity. 

Contacting Apple's recent news that it will build a car is also a clear proof of the competition between the two major industries on the supply chain side. However, no one would have imagined that the mobile phone industry is threatened by the auto industry. Apple's car building is like a "righteous act" to save the mobile phone industry.

 

But Apple's "righteous act", Xiaomi will be a little worried. The same is the price increase, which has a far greater impact on Xiaomi than Apple. 

Because the unit price of Xiaomi is very low, its average selling price is less than half of the average price of domestic mobile phones, and there are a large number of mobile phones less than 1,000 yuan.

On the other hand, to reduce the overall cost, low-priced mobile phones can also make a profit. Xiaomi cannot Get rid of low-priced mobile phones. 

Once the price of components increases on a large scale, it will be lethal to Xiaomi. With its overall net profit of no more than 5%, it is easy to be wiped out by a price increase. At that time, whether to respond to the price increase or to retreat will test Xiaomi's marketing wisdom.

Source: Tianfeng Securities Research Institute

 

Moreover, its entry into the industry is just to watch the slump of the electronics industry and obtain industry dividends, which is somewhat of a fluke. For example, in 2010, when it intervened in the industry, it was the card that allowed the price reduction cycle of components. 

Subsequently, Xiaomi kept up with the rapid development period from 2012 to 2014, and in 2014, Xiaomi rushed to the third place in the world. Among them, 2012 to 2014 is also the cycle of component price increase, but Xiaomi seems to have stepped on the drum point of development, and the journey has been smooth. Until 2016, Xiaomi plummeted and there were problems in the supply chain. However, Xiaomi did not announce the specific reasons. 

The outside interpretation is that Xiaomi is "floating". The more likely reason is that Xiaomi's supply chain is quite insufficiently prepared to deal with price increases.

Source: Gartner

 

We can ignore what happened in 2016. Xiaomi's actions after 2016 seem to be more illustrative. 

After Lei Jun regained control of the supply chain, Xiaomi spent much more generous. 

Then in 2017, Xiaomi became the 18th largest semiconductor purchaser in the world, and rapidly rose to the 10th place in 2018, with an annual growth rate of 62.8%, making it the fastest-growing top 10 semiconductor purchaser. 

In 2019, it became the only growth among the top ten buyers, and the ranking continued to rise to 8th. In recent years, Xiaomi's supply chain supplementary lessons have become more vigorous, which means that Xiaomi has been hurt more deeply in 2016. 

It is precisely because of the tingling in 2016 that Lei Jun now seems less worried about the outside world's evaluation of not sending charging heads.

 

Mobile phone industry getting more and more difficult

The mobile phone industry is indeed getting more and more difficult. In the past, it was basically competition within the circle. Now new energy vehicles have unexpectedly joined the battle, gradually replacing those mobile phone manufacturers that failed in the competition. 

According to various data, global mobile phone sales continue to shrink by 11% this year, and the total amount is only about 1.2 billion. 

These squeezed out supply chain capacity may also be acquired by other electronic equipment manufacturers. For example, Huawei will work hard in the field of automotive electronics and launch smart screens for vehicles. 

At the same time, Huawei will introduce HMS into automobiles and cooperate with Changan and other automobile companies to produce high-end electric vehicles. 

Huawei also released a 96-line medium and long-distance Lidar, with an annual output of 100,000 sets (yes, Huawei has a decisive and powerful march). 

SAIC, Pudong New Area, and Alibaba's Zhiji Auto are all entering the game, and the efforts of upstream manufacturers are gradually eroding the inherent boundaries of the previous industry.

 

In fact, Xiaomi and Honor's ODM Wingtech also acquired Nexperia with a large amount of money, taking the opportunity to enter the field of automotive electronics. 

The supply chain is very clear that the mobile phone circle will be broken by new directions. 

Of course, Xiaomi does not define itself as a mobile phone hardware manufacturer.

 

The capital market is very clear that Xiaomi's adherence to a cost-effective strategy can still be profitable. 

It is by no means as simple as a hardware company, but it has also been uncertain about its future. For example, Xiaomi’s stock price has been falling since its listing, and on August 25, 2019 and November 17, 2019, it recorded extremely low stock prices of 8.53 Hong Kong dollars and 8.39 Hong Kong dollars, respectively. 

After a long period of low stock prices, Xiaomi began to trade. Slowly climb up (now has broken through 32.5 Hong Kong dollars). The two sides of capital have always been the life and death of a company.

 

This is a sign that neither recognizes its hardware, nor does it feel cold about its hardware-based Internet gameplay. 

Also, he doubts that it is walking on the boundary between the Internet and hardware, because if the benefits of the two cannot be fully accounted for, the disadvantages of the two may be magnified. 

And the foundation of cost-effectiveness is not solid. It is difficult for users who pursue cost-effectiveness to have brand loyalty. 

Moreover, with fierce competition, the definition of cost-effectiveness will be updated repeatedly. 

Can Xiaomi continue to play?

Especially last year, under Huawei's fierce offensive, Xiaomi was weak online and weak offline, and then superimposed on OV also began to play cost-effective, the biggest loss. 

Online and offline attacks, in the third quarter of last year, Xiaomi's domestic market dropped as much as 35%. Xiaomi's cost-effective strategy has been questioned.

 

Xiaomi in 2019 has never had an easy time. Xiaomi’s 2020 Q3 financial report also proved that 2019 is not easy. 

This financial report shows that Xiaomi’s mobile phone has increased by 45.3% year-on-year, and the average selling price of Xiaomi’s mobile phone has also increased by 14.7% in China, including IoT, Internet services and even games. There is a substantial increase. 

To put it bluntly, the foreshadowing of 2019 may be one of the reasons why Xiaomi's growth in 2020 is dazzling.

 

"Intelligent Relativity" has to be said, another reason is that Xiaomi benefited from the ban of Huawei chips and grabbed the share of Honor phones with a price of less than 1,000. A year ago, Huawei did a similar thing. 

Through aggressive marketing, it almost ended Xiaomi's price-performance ratio. So after Huawei was affected, Xiaomi began to make some ideas for offline dealers.