ALLEN_LIU

The biggest difference between the poor and the rich is: the poor are only addicted to temporary entertainment; while the rich mostly spend their time enhancing their knowledge and perspective.

I find that it's very hard to explain Bitcoin in the US. It's probably the hardest country. Argentina is one of the easiest.
And it makes sense because when you talk about money to an American, it is a little bit like talking about water to a fish. A fish doesn't even know that water exists. It is invisible to them. They won't know what you're talking about.
Money has always worked for Americans.
It has worked for them and for their parents and their grandparents.
They have always used the same form of money.
In Argentina, each generation has discarded some form of currency, at least once, pro

The Bitcoin market has never been a place of "fair wealth creation" since its inception; it is more like an extremely brutal faith screening + wealth redistribution ceremony.

Finance is the process of efficiently allocating capital across time, risk, and space in uncertain environments, directing funds to where they can create more value.

Investing is simple, but not easy.

We foresee a real possibility that all currencies will become digital, and competition will eliminate government control over money. The power of frictionless transactions on the internet will unleash a unique cohesion and globalization force, leaving only 6 digital currencies in the world: USD, EUR, JPY, GBP, CNY, and Bitcoin. — "Digital Gold"

Not to change the world, but to participate in the change of this world.

True wealth begins the moment you no longer constantly feel the need to become richer.

If you don't understand something, you can't truly control it.

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