Invest more rationally and less emotionally

Overnight, Bitcoin fell to the 30-day line, fluctuating around $40,000. If you just bought at the local high of 43k, and it fell after the purchase, what should you do now? Remember, the operation of the Eight Characters should be turned into a memoryless process - just like Bitcoin mining, the probability of finding the correct solution when calculating the second hash value has nothing to do with how many times you have tried before and how the attempts were. This is called a memoryless process.

This is what is called "buy and forget". Our brain has the ability to remember, but it seems to be better at remembering emotions. The unforgettable things that happened many years ago may have blurred details, and even memory errors may have occurred in what was said and done, but the feeling and emotion still seem so fresh, as if it happened yesterday. First love is unforgettable, but what really intoxicates the brain is just the feeling and emotion stimulated by the specific environment at that time. What is unforgettable is not the object of first love, but the feeling of first love.

The brain's ability to remember emotional experiences is a poor ability when it comes to investment operations. If the price plummets after buying, you regret buying too early; if the price soars after buying, you are glad you sold it in time; if the price plummets after selling, you are glad you sold it in time; if the price soars after selling, you regret selling it too fast. All kinds of behaviors that arise from these emotions, especially violating discipline and taking a gamble after success, and trying to correct mistakes after failure, but making more mistakes, are all manifestations of lack of self-control.

Emotional people are particularly easy to be aroused, encouraged, and excited. Such people are also the most likely to become cannon fodder and leeks. Rational people tend to be calm, silent, and even pessimistic. The optimism of rational people is irrelevant to others, and it is also the most difficult to shake the lasting optimism. Rational people usually just think that emotional people are noisy, and emotional people often think that rational people are cold. But this undisguised indifference is precisely a manifestation of kindness. There is a kind of rational person who is extremely cold in his bones and passionate on the surface. They have superhuman desires in their hearts, but they understand the truth that one general's success is the result of the sacrifice of thousands of people. They have one truth in their hearts and another truth in their mouths. They use dreams and interests to paint pie in the sky for others, arouse and encourage their latent desires or desires in their hearts, show excitement, and are in sync with them, squeeze them dry, harvest them, and sacrifice one batch after another to achieve their great achievements and wealth.

Being more rational and less emotional is never a bad thing in this turbulent world, in this increasingly inward-looking society, and in this ruthless market.

Investing, investing, is dancing with capital. What are the characteristics of capital? Marx wrote very clearly a long time ago: "It ruthlessly cuts off all kinds of feudal fetters that bind people to their natural superiors, and it makes people have no other connection except naked interests and cold-blooded "cash transactions". It drowns the sacred outbursts of religious piety, chivalrous enthusiasm, and petty-bourgeois sentimentality in the icy water of selfish calculations. It turns human dignity into exchange value and replaces countless chartered and self-earned freedoms with a conscienceless freedom of trade. In a word, it replaces exploitation covered by religious and political illusions with open, shameless, direct and blatant exploitation."

Don't misread Marx. This "open, shameless, direct, explicit" and "naked" relationship of money and interests is much more progressive than the feudal relationship of personal dependence. By comparing the culture of enterprises in developed European and American countries with some local enterprises, we can understand why European and American technology companies can achieve work-life balance, pay several times more than local enterprises, and achieve heights that the latter cannot reach in some high-tech fields. In the final analysis, we need to understand a simple truth: a serf who is personally dependent cannot be a warrior who fights in the wild at the same time, and a dog who works overtime for free cannot be a wolf warrior at the same time. This is the huge difference in productivity.

Compared with developed capitalist countries, the production relations of some of our enterprises still have a faint feudal atmosphere. Semi-capitalist and semi-feudal production relations are naturally inferior to purer capitalist production relations. A group of pugs, no matter how hard they try, can never become a pack of wolves. Therefore, some so-called domestic projects in the industry often become packaged marketing, disguising a pack of dogs as a pack of wolves, and then cutting the leeks and leaving. Looking at the industry over the past decade, how many domestic projects can really fight without cutting leeks? I'm afraid there is not even one.

A funny joke has emerged in the industry: "X country people don't cheat X country people". In fact, the so-called domestic project is a false proposition in itself. Since the advent of Marxism, we have been baptized by Internationalism and have taken the liberation of all mankind as our highest vision. Blockchain is beyond the Internet and beyond national boundaries. What country is Satoshi Nakamoto from? Does it matter? It doesn't matter. A truly excellent blockchain project must be international, borderless, and International. When a blockchain project claims to be "domestic", it is simply a super-sized black humor in the eyes of people who truly understand the spirit of Bitcoin. Its intention is undoubtedly to harvest the leeks of Chinese people in a targeted manner.

For most ordinary individual investors who do not yet have the ability to discern, one of the best principles to follow to avoid becoming "leeks" is to plunge into this chaotic and nascent industry and not invest in domestic projects, projects initiated by Chinese, projects recommended, packaged and operated by Chinese, projects actually controlled by Chinese, and projects that Chinese are keen to participate in but are not very popular overseas.