Today I’m just writing something casually, opening my heart to chat with everyone. First of all, I want to sincerely thank all the supportive fans; without your encouragement, I really wouldn't have made it this far. Every day of creation can't always be the best; there are times when my state isn't great, or when I'm not writing well, or when I'm just going through the motions. However, every time I see comments saying things like 'I read every piece you write,' 'Teacher Zhu's classes are really valuable,' and 'Excellent articles,' it gives me tremendous confidence!
Actually, when the market is bad, I feel really down too. After all, seeing my account shrink and profits retracts is tough on anyone. When the market is good, I feel happy as well; we are all the same.
Looking back three years ago when I decided to do this, it was also to research for my own investment and finance because I had my own needs for distinguishing which projects are good and which projects are valuable. Then I started writing investment research articles, first for convenience in reference and second because when I can write it out, it shows that I truly understand it. This is a learning process. Of course, after publishing, the response was quite good, and I have been writing ever since.
At that time, I remember my promise to myself was to write for 10 years. Because of my great ambition, I have seen many people achieve great success, and I also took inspiration from Luo Zhengyu, who posted 60-second audio on his public account for 10 years. First of all, I know my own shortcomings; in fact, my willpower is still not enough. If I hadn't made a great wish and announced it to the entire internet, I might have given up long ago. Secondly, 10 years is actually not long, but definitely not short. We all know the 100,000-hour theory. Even if you are a novice, if you spend 10 years on something, you can grow into an 'expert'. So, if many early partners who watched my videos and articles can feel it, my early videos were actually very stammering, and my articles were also quite casual. But now, I can almost record videos in one go. After writing nearly hundreds of project research articles, I now have enough confidence to talk to you for days and nights without repeating content. Moreover, this year I recorded over 40 sessions of the (Blockchain Awareness Improvement Class), covering a series of content from blockchain basics to industry analysis to project research, which truly took a lot of effort.
Of course, wherever you put in effort, you will grow there. In the past, I may have known many things, but I could never calmly and systematically explain them to you. Now I can, so I consider it a growth. Sometimes, people need to push themselves a little; otherwise, you won't realize how excellent you are!
In fact, I initially aspired to explain 3,000 projects to everyone, simplifying the important, exciting, and technologically innovative projects in blockchain. Of course, during this process, I encountered excellent projects such as LINK, UNI, which are useful and innovative. However, after discussing hundreds of projects, most current blockchain projects are quite terrible. Because there is no regulation, the exchanges do not have very detailed reviews and punishments when projects go live. Most projects peak at launch, and high-quality projects are few and far between. This has led me to talk less about new projects over the past year, focusing more on macro aspects or market trends. While some projects do have good fundamentals, the coin price may not necessarily align with the fundamentals. There are many complaints from people saying I am advertising. I can responsibly say that I have never received advertising fees from project parties. If a project is good, I will highlight its strengths; if it is bad, I will point out its weaknesses. However, I often feel that most projects are not promising, and those who consistently follow along should know this.
And the philosophy I have always adhered to is 'value investing.' I believe that blockchain has developed for more than a decade and has emerged as an industry. If there is only emotional speculation, meme coins, without underlying technological innovation, it is impossible to have come this far.
Therefore, current social progress must be driven by innovations in underlying technologies. If companies like NVIDIA, Apple, Google, Alibaba, etc., did not have technological innovations, they would not have contributed to society and I believe they would not have grown to today's market value.
Of course, 'innovation' is really difficult. Since the blockchain innovations of 2021 brought about DEFI, chain games, and NFTs, these are all new things with immediate effects. For example, DEFI can be applied immediately; lending and DEX allow users to participate right away. Similarly, chain games and NFTs are also immediate. However, although this cycle has also given birth to many new concepts such as DEPIN, RWA, and AI, these require long-term construction and are not experiences that users can immediately participate in. Therefore, this round of explosion may not be as rapid and immediate as before. Of course, the overall macro cycle this time is also different from before. The approval of ETFs has allowed more institutions to participate. The entry of professional players is often the biggest disadvantage for ordinary players, making this round of the market quite difficult. I don't want to say too much about the market here; I have mentioned it many times before and you can dig into it.
So, is there a future for blockchain? I believe there is great potential because this cycle has seen the U.S. and even very reliable entities clearly acknowledge the legal status of Bitcoin, along with stablecoin legislation and Bitcoin as a strategic reserve, and payment innovations, all of which we can observe. Therefore, I believe that as long as there are projects with technological innovations that can solve certain social problems and needs, they have the potential to grow into industry unicorns. For example, projects that solve energy issues, real-time location technology for short distances, agricultural problems, etc., are all addressing real-life issues. They may not have emerged yet, but it just means that the iteration and upgrade of technology require a cycle. In the short term, they may fail. Many people currently see the AI bubble, but we know that the future will definitely belong to AI. What you need to do, I believe, is quite simple: find that 'unicorn' after the bubble bursts.
Okay, I got sidetracked. I was originally prepared to have a heart-to-heart talk, but it turned into talking about the future. Although it's hard to see in the short term, the market is unpredictable, and it's difficult to select unicorns because that relies on visual observation. However, in the long run, it can be seen very clearly through cognition. I think this reflects the old saying: one cannot earn money beyond their cognition.
If everyone wants to see what type of content in the future, you can consider doing more, and comments are welcome.
