When He first heard about Bitcoin in 2012, he thought it must be a bubble for a virtual currency to be so expensive. It was not until 2017 that he entered the coin circle and began to invest and study bitcoin and the blockchain technology behind it. I paid a huge price for this, missed a once-in-a-lifetime opportunity, and regretted it.
Come to think of it, the biggest problem is cognition itself. When you hear something new, you use old thinking and jump to conclusions without really studying it. Falling into the trap of pride and prejudice. The older you get, the more likely you are to make empirical mistakes, and past experience becomes a barrier to new knowledge. I recall a friend who visited the former Israeli Prime Minister Shimon Peres a few years ago. The 80-something old man talked with him excitedly about all kinds of new things, just like a 20-year-old. It is not age that makes a man young or old, but curiosity about new things.
While many people think it’s too late to get into the market, I think it’s way too early. Blockchain in 2018 is the Internet in 2001. In 2001, portal sites were divided into three parts of the world, and BAT and other giants had established moats, so it seemed that the opportunity had been carved up. But looking back now, there were so many opportunities!
If I had a message for my little brother 10 years ago, I would have said to ya: Buy a house in Shanghai as soon as possible, don’t be too expensive! Don’t be too expensive! Don’t be too expensive!