There is a saying that the number of Bitcoins a person owns will ultimately correspond to that person's level of wealth, regardless of when they bought them.
If you were a loser when you bought Bitcoin, then the maximum market value of the Bitcoin you can hold is just the loser level plus one, and any excess portion you will sell, to buy a house, a car, or something else; but if you bought Bitcoin when you were already financially stable, then you can keep the remaining Bitcoin unless these values rise significantly higher than your other wealth levels, then you will sell part to realize other ideals at your level or to balance other asset allocations.
Thus, in the crypto world, when someone says they have many coins, I only look at one point: does this person have an industry, do they have a career, and how is their income? That's enough. If you say Zhao Changpeng has many Bitcoins and Sun Yuchen has many Bitcoins, I believe it because their income means they do not need to liquidate Bitcoin to realize any other ideals— even if they have sold Bitcoin in the past, with the increase in income, they no longer need to sell. But if you say some OG, who doesn't even have a job, is wandering around attending various conferences, and claims to have many Bitcoins, although everyone cannot bring out their real cold wallets to show the number of coins, I do not really believe that person— it is not that I do not believe how many Bitcoins they might have owned in the past, but that even if they once owned them, given their current state, they cannot possibly retain them.
It is impossible for a person to possess too many things that they do not deserve for a long time, so wealth must synchronize with cognition/career/social resources. When one leg is limping, money will leak out preferentially from that leg— the longest leg is used to earn money, while the shortest leg is used to lose wealth.
However, there are exceptions. There are three things that can affect whether you have a 'slight' possibility of holding more Bitcoins than your own level: low material desire, clean social relationships, and love for Bitcoin.
Low material desire is easy to understand; it means you do not have much material pursuit, so when Bitcoin rises, even if your net worth skyrockets, it does not matter since you do not know where to spend it, so you keep it; clean social relationships help you filter out noise. Much of our impulsive behavior stems from the various people around us constantly saying low-quality information, leading us to make wrong decisions, so unless necessary, do not engage with too many people, especially in relationships without clear purposes, and cherish your time of solitude.
The love for Bitcoin is reflected in a term often used by the old OGs, called 'currency standard.' It doesn't matter how much wealth you have; I only ask how many coins you have. If you have many coins, you are impressive; if you have few coins, even if you are a big shot outside the circle, you are just ordinary.
Thus, being on a currency standard drives you to aim for 'holding a larger proportion' to gain happiness, just like counting money every night in bed; just counting brings joy; while liquidating, people feel distressed, even if they can exchange it for a lot of cash, they feel bad just because the number of coins decreases— and that makes it hard to sell coins.
A few days ago, someone commented under an article saying cash is the most stable— you defined cash as the measure of everything, so other things relative to cash must have fluctuations, hence cash is indeed the most stable. But that is wrong; you first gave cash the definition of 'most stable' and then said it is the most stable— that is cheating. Cash standard, currency standard, gold standard, who do you think is the most stable? It is not that those with fluctuations are unstable; if cash is in a long-term decline relative to the latter two, then who is unstable? This is merely a matter of the reference point you choose. If you are on a currency standard, you will find that holding cash is the least stable, as purchasing power is rapidly declining.
The characteristic of Bitcoin is that it can never be increased, so as long as you diligently hoard coins, your proportion will increase. Unlike stocks, where you may not act, and one day your share may be diluted through issuance. Bitcoin will not increase, and it absolutely accounts for fifty percent of the entire blockchain market value (regardless of which coin brought you into the crypto world, you will ultimately become a fan of Bitcoin; all market increments of coins will eventually convert into Bitcoin increments), which leads to the currency standard being superior to any stock standard, with stronger certainty.
Of course, it is a bit unreasonable to require everyone to 'understand' Bitcoin now because why should they have to understand it? Have all other investment products died out? But if you do not understand, then you will either never play with it or easily lose money on it— you see a correction, and many people can't wait to hand over their chips, fundamentally because they do not understand.
So the order is as follows: in the matter of Bitcoin, either you are lucky, buy at a good cycle, make a lot of money, and then you are willing to learn about it and understand it, and then you will become part of the crypto community for the long term; or someone pushes you to hold onto Bitcoin and does not allow you to sell, you go through a complete cycle, although the process has ups and downs, you still achieve a good result, and then you are willing to learn about it and understand it, and then you will also become a long-term fan.
If you have neither of the above two, then you may never be able to understand it— it’s not that you really cannot comprehend it, but that you have not encountered the opportunity that allows you to make a lot of money, which leads to your lack of desire to learn about it properly. And if you do not understand it, then you have a greater chance of never being able to make big money from it, and you will miss one of the most exciting parts of this era.
