All my assets are cryptocurrencies, and the long-term holding style is not suitable for most people.
Original Title: "MeMe Learning Notes"
Author: He Yi, Co-founder of Binance
I. Subculture: From the Margins to the Center Stage
Expression is a commonality among humans; a good MEME can transcend cultural maps and bring a knowing smile. When the collective self-identity, emotions, and subjective intentions of the public overlap, unique values, semantics, and forms of expression emerge, such as the "Funeral Love Family" from the QQ era, the "Social Shake" from the mobile video era, or the "Sanhe God" from the post-industrial era, all of which create distinct subcultures. I did not grow up in Western culture, but I believe every culture has certain groups with which you can resonate deeply. Therefore, the subcultures I mentioned earlier are very niche and outdated, not good expressions of MEME, but they represent a certain extreme form that has appeared in history, vivid and refreshing.
Essentially, no particular circle is truly superior. A hippie attending a meditation retreat is not necessarily more stylish than someone watching a storytelling session; those who enjoy reincarnation and Star Wars are not necessarily more aesthetic than gangsters. The more niche the aesthetic, the more it lacks commonality. Moreover, our generation spans the agricultural revolution, the industrial revolution, and the information revolution, crashing headlong into AI; chaos is the norm, and all authority has been dissolved, with each idol being just that. MEME is a silent thunder, an extreme expression of the crowd, a shock from subculture to mainstream culture. Thus, being photoshopped or having coins issued is also part of the deconstruction, so I feel I am not yet worthy to be at the center of MEME.
Similarly, chasing trending topics on Twitter, whether in CZ's or my replies, is not the optimal path to discover or create MEMEs; MEMEs reside in your heart.
II. Who Can Surpass Doge?
There is only one Doge. In the first Bitcoin bull market of 2013, among countless projects attempting to clone Bitcoin, they both mocked Bitcoin and self-mocked, with a playful demeanor and passionate hearts. Developers abandoned their projects, but the community had its own vitality, adding an important chapter to the history of crypto culture. The Chinese crypto community sent Dogecoin worldwide, creating a unique crypto track: "Preaching for the industry, rewarding first." Back then, BBS comments were: "I see you are a good person, I reward you with 10,000 Dogecoins," leaving the rewarded person in a state of confusion, unable to calculate how much 10,000 Doge was worth without a calculator. In the development of the crypto industry, every community has its own "Gann." Later on, Elon Musk's fondness for Doge brought subculture into the mainstream. Today, Doge is no longer just a dog.
MEME is attention economy, but it is not just about attention. If everything is like the trending topics on Twitter, then it is destined to be fleeting. Great MEMEs do not come from celebrities making clever remarks; that is not enough to make a MEME. This is worship of the powerful (whether politicians or entrepreneurs), and it is not cool enough.
On the other hand, those who oppose for the sake of opposition often have a face that reflects extreme right-wing views. Those who shout for decentralization are often extremely centralized. Maintain critical thinking and discern the true from the false.
Imagine someone in your group tells you to buy into a trending topic; of course, that topic will cool down the next day. If this attention can become a product, a belief, a religion, then it is possible to see the next Doge. Who says it is impossible? Anything is possible.
III. Is Long-Termism Outdated?
I do not trade but hold long-term because I adhere to the logic of value investing. Similarly, in running a business, I also uphold long-termism, whether building a clock or a garden.
Binance is just an infrastructure, a stage where project parties and investors may win together or lose together. This depends on ability, will, and judgment. Top entrepreneurs are already few and far between; long-termism requires DYOR (Do Your Own Research) and knowing when to take profits. It is not that long-termism is outdated; could it be that you have chosen the wrong object of long-termism?
When the wind blows towards blockchain, investors have plenty of money to invest in projects. A few entrepreneurs can claim their projects are worth 100M, 1B, or even 100B. Everything can issue coins; prices and values may diverge, but over time, they will converge.
The market size in 2017 was not as large as it is now, and the funding scale of the DeFi summer in 2021 was also not as large as it is now. Yet we see more excellent entrepreneurs entering the Web3 industry, the industry scale is growing, but confidence is decreasing. Many users ask why project valuations cannot return to the ICO era. We can never go back to the past, but we are trying to let users vote on which coins to list and which to delist, trying to let Web3 wallets conduct IDOs, allowing project parties to choose low-threshold, low-market-cap issuance, with real users profiting, which is much better than spending money to fabricate data and deceive oneself.
Whether it is MEME or AI, games or DeFi, social or RWA, let a hundred flowers bloom. May we still have beer in our cups after each round of bubbles burst. Fortunately, history always repeats itself; the grand claims of predecessors about technology changing the world will be realized one by one by successors.
I have heard that many serious projects no longer want to persist. Hey! Friends, there will always be new opportunities, but the world belongs to a very few who drive it. Rather than chasing opportunities, it is better to become the opportunity.
IV. Investment Advice Friends Always Ask
All my assets are cryptocurrencies, and the long-term holding style is not suitable for most people, but there is one point to consider: earn money with certainty.
Earn cyclical money; have a judgment on economic cycles and bull/bear markets. Selling in a bull market and buying in a bear market is basic operation.
Any category of assets follows the principle of the head.
It is recommended to allocate at least 20% of your assets to cryptocurrencies. Land is the asset of agricultural civilization, minerals are the hard currency of the industrial age, and the leading assets of the information age are stocks of top internet companies and cryptocurrencies with siphoning effects.
Some friends say that fundamentally sound cryptocurrencies do not fluctuate enough. If you do not use leverage or trade some high-risk tokens, then it is advisable not to exceed 10% of your disposable assets.
Most of these principles are actually understood by everyone; there is no need for me to elaborate. It is just difficult to implement, much like losing weight.
I wish everyone knows and can achieve this.
免责声明：本文章仅代表作者个人观点，不代表本平台的立场和观点。本文章仅供信息分享，不构成对任何人的任何投资建议。用户与作者之间的任何争议，与本平台无关。如网页中刊载的文章或图片涉及侵权，请提供相关的权利证明和身份证明发送邮件到support@aicoin.com，本平台相关工作人员将会进行核查。
