Editor's note: Continue Capital Ma is a well-known technical veteran in the circle. He has traveled through many crypto bulls and bears. This article is his "Book to the Army" written by him, which has been widely praised. Today, PANews has compiled and republished it. I hope it will be helpful to you, or at least make you think. Please read the full text:
Boss Jun is sensitive and eager to learn, diligent and selfless, which is enviable. I feel that you have been addicted to massive information and can't extricate yourself. I will make a little note, but it is only a family comment.
I won’t go into details about the importance of information, but don’t mistakenly think that daily summarization and capturing key information are so important. The so-called fleeting opportunities are all superficial. Indulging in the different opinions makes you feel like you are choking on food. All you see are opportunities at the tactical level, and you lose more strategic mechanisms. What you need to do is to have some fun. By deducing the essentials from successful cases, through systematic theoretical study, and guiding investment instead of blindly following colorful information, it is better to retreat and build a net.
The above are all somewhat abstract, so let me give a few examples to illustrate. In 2016, United Square Venture Capital USV published an article on the debate between fat and thin protocols, which laid the foundation for many people’s investment philosophy for three years. This outline document was not gradually known until the public chain debate at the beginning of this year. In fact, As soon as it was born, it has become an important article in many well-known funds. Now these funds are very popular, such as USV, Pantera Capital...
Opportunities to participate in the secondary market, although there are still many imperfections in the crypto, and there are many people who can make a fortune without looking at the K-line, but more importantly, you need to seriously study the investment philosophy and systematically learn some financial/computer knowledge. The power of holding, the importance of mentality, slow is fast, the valuation methods of the traditional Internet industry (Metcalfe’s Law, Zipf’s Law). These are some important theoretical knowledge. In 2000, no one knew what PE was. After several rounds of bull and bear transitions, people realized the importance of PE. If you had understood the PE valuation theory in 2000, you would still be able to buy Do you want to buy PetroChina for 48 yuan? If you don’t study these theories, and I don’t study them, there must be a few people who study them, and it is probably these few people who survive;
Side chain, side chain is essentially a cross-chain. We believe that at the current stage of development, side chain has many problems in terms of security, stability, complexity and convenience. You can go and learn more about BTCRelay, Lisk, Ashe, Loom, and POA Network. None of them are masterpieces. What is the guiding significance of my example? As for whether similar projects can be invested in, we definitely can. Whether it is the right thing to soar into the clouds and transform into dragons, at this stage we are taking a wait-and-see attitude. Perhaps with the iteration of technology, masters in this field will emerge, let's explore further.
Some people have been looking for the code to get rich, and others have told you, do you dare to buy, do you dare to take a heavy position after buying it, can your mentality remain unchanged when the heavy position goes down... So you can only feel confident if you understand the logic behind it. Not disturbed by the outside world.
Finally, the power of the system and probability investment theory are what you really need. The way of resonance, the return of all methods, and the hope of success.
2018.07.06 Cowherding class community
