Unmanned

I hope 57,800 BTC isn’t the bottom of this bear market.
A -55% pullback isn’t deep enough—if there’s another big drop before October, on the one hand it will give the next round more resilience.
On top of that, we can also increase the amount of $BTC we accumulate during the bear market, seizing the 2026 time window.

From Sina and NetEase to Alibaba, the VIE structure of Chinese internet companies has been operating for over 20 years, with hundreds of companies going public overseas.
There are many parties involved in this chain, including regulators, investment banks, exchanges, and law firms, all of whom are well aware of it and deeply familiar with it.
If you think a lawsuit from a former employee of Xiaohongshu can cut off its IPO prospects, then use your brain.

Inbusiness,youmustatleasthavea"minimumgrowthrate"Becauserowingagainstthecurrent,ifyoudon'tadvance,youfallback.Ifgrowthisnotfastenough,employeesandpartnerslosemorale.Eveniftheteamandbusinessappeartoexistonthesurface,theyhaveactuallyenteredastateofchronicdeclineIninvesting,youmustatleastpursuea"minimumescapevelocity"Becauseinflationislikegravity,withaninvisiblehandpullingmediocreinvestmentsdownward.Manyinvestmentsappeartomakemoneyonthesurface,butyourshareofthepie(purchasingpower)isactuallybeingdilutedExcellentinvestmentsarelikeaddinganinvisiblepairofwingstoyourassets,usingagreaterescapevelocityt

I've been driving for 15 years. Two weeks ago, I drove thousands of kilometers in Xinjiang and realized some principles that are also valid for investing and life.
◦ To overtake the car ahead, you need to change lanes; otherwise, you might get into trouble.
◦ Changing lanes is like rebalancing a portfolio — every move has an opportunity cost. Sometimes you change lanes only to find the original lane was faster.
◦ Most of the time, you should look forward; only use the rearview mirror when correcting your route.
◦ Sometimes being slow isn't because of something you did wrong — maybe the

The crypto market is a pool.
If there are multiple outlets and inlets,
in the short term, outlets are definitely greater than inlets—putting the coin price under pressure.
When more capital and attention return to the crypto market,
that is the moment of transition.

I'm baffled.
OpenAI named the three versions of GPT-5.6 Sol, Terra, Luna... It's all too familiar to the crypto community.
OpenAI says GPT-5.6 is "the strongest cybersecurity model to date." However, it is currently only available for trial to a very limited number of customers who have been vetted by the U.S. government, accessible via Codex and API.

Previously laid off, asked friends at big companies for internal referrals.
Laid off again this year, asked friends at big companies for internal referrals, only to find out they were also laid off.

I saw a statement in the US stock group: someone said that after Lei Jun of Xiaomi became the richest person, he heavily shorted Xiaomi, with the logic that entrepreneurs who become the richest usually don't have a good ending.
Using the same logic, after Huang Zheng of Pinduoduo became the richest person (in 2024), shorting also yielded good returns.
In China over the past years, after the richest person in the real estate or consumer goods industry reaches the top, they are often close to the industry cycle peak.