ALLEN_LIU

Since its inception, Bitcoin has experienced nearly 80% crashes multiple times, yet it has recovered from the ruins time and again. Extreme volatility does not indicate the quality of the asset, but rather the price paid for a new monetary network to become part of the global monetary system. If Bitcoin ultimately becomes a consensus for value storage, its journey is destined to be like a wild roller coaster, with intense fluctuations.

Warren Buffett's five life wisdoms:
1. Choose the right partner, become a winner in life
2. Do work you love
3. Invest in income-generating assets
4. Surround yourself with excellent people
5. Filter out pain, focus on the good

The best investment is investing in yourself.
To get what you want, the most reliable way is to make yourself worthy of it.
Munger believes that if a person's ability, character, or cognitive level does not match the wealth they possess, then these things will eventually be lost in various ways. This is the so-called "money earned by luck will be lost by strength." Luck is uncontrollable, but "making yourself worthy" is the only variable you can actively control.

Attention is constrained by cognitive frameworks, and the content you focus on, choose, and express, in turn, reinforces this cognition.

There is no such thing as absolute truth in this world, only limited perspectives.
Everyone is the center of their own world. Different cognitive frameworks create different ways of thinking, speech expressions, and behavioral patterns.

Money is a magnifying glass of human nature.
It doesn't change a person, it only amplifies their true self.
Winning the lottery but failing to keep it is not a matter of luck,
but because wealth comes too quickly, and cognition, identity, and ability do not upgrade in sync.
Wealth, in essence, is the realization of cognition, a transition from low cognition to high cognition.
When cognition cannot bear the weight of wealth, the system will trigger mean reversion, and money will flow away in various ways.
True wealth that can be preserved has never been about "sudden riches",
but a long-term pr