徐冲浪搬运号

Looking back, the reason I insisted on not revealing my face was mainly due to concerns about the practices of domestic companies. I predicted at that time that personal data could very likely be used to train models without permission, leading to arbitrary use by the outside world. After all, I have seen similar chaos many times in the field of voice data. As for the model Dream, its demonstrated strong capabilities are indeed worthy of full recognition. However, given that its data collection process was carried out without authorization, this means there are still many legal compliance issues that need to be addressed.

To be fair, we need to have a fair attitude towards Binance. Although FTX has indeed performed better than Binance in terms of investment returns and vision, this is beyond doubt. But the crux of the problem is that FTX improperly diverted users' assets, which is the root cause of its collapse.

In terms of severity, letting users' principal go to zero is clearly much more serious than the platform itself having excellent profit-making capabilities. After all, no matter how much profit FTX makes, it ultimately ends up in SBF's personal pocket, with no direct benefit to ordinary users. Of course, if you are an investor holding FTT and hoping to boost the coin price by doing so, that is a different situation.

Looking back at the end of January, the market had not yet fully exploded, and Bitget had already set a record of over 4 billion U in daily trading volume.

In terms of fees, its advantages are particularly prominent. If trading gold on other exchanges, one often has to follow contract rates; for a volume of 100,000 U, the minimum fee is 20 U. However, using Bitget's tradfi section to trade gold under the same conditions requires only 1.5 U.

Compared to the cumbersome KYC verification and uncertain stability of traditional CFD platforms, Bitget only requires the use of USDT to complete the purchase, making it extremely convenient.

Clearly, the boundaries of asset allocation are becoming increasingly blurred, and as traders, the tools we possess should be more diversified.

Finally, I would like to express my gratitude to Bitget for the thoughtful gift: a horse's head.

The high-quality assets hidden in the U.S. stock market are indeed vast, with an astonishing number. For investors, faced with such a rich array of choices, it is obviously an impossible task to capture all excellent targets.

In the middle of the course, you will proceed most safely.

Today I specifically conducted a review of FISV once again. I have great confidence in it and personally believe its superiority even surpasses that of CRCL. From a developmental logic perspective, CRCL is likely to need FISV's channel in the future.

Regarding what exactly constitutes the cognitive gap, your current understanding is very accurate and completely correct.

Arm has finally returned to the breakeven point. I almost thought that my judgment logic was flawed. Now that we have returned to the cost line, let's get ready and continue moving forward.

If BTC truly possesses sufficient decentralization characteristics, then maintaining a relatively low price, allowing everyone to hold it, isn't that an ideal situation?

As the liquidity in the market tightens due to the cap reduction of Meme coins, cryptocurrency holders are actively seeking more solid value support in the US stock market. Under this trend, tools represented by stablecoins are being adopted by formal brokers as supplementary payment channels, and the boundary between traditional finance and the crypto world is becoming increasingly blurred, moving towards deep integration.

Against this backdrop, the integration of cryptocurrency trading platforms into the US stock market has become an inevitable trend. Matrixport has recently launched a new feature that allows users to directly deposit into US stock accounts using USDC and USDT, thus conveniently starting stock trading.

It is particularly noteworthy that, unlike some exchanges that only offer CFD contracts for difference, synthetic assets, or tokenized US stocks, the platform provides actual ownership of stocks. Users are not trading shadow assets but can obtain complete shareholder rights.

The platform achieves this service by directly connecting to licensed US brokers, ensuring complete rights without involving CRS reporting. The entry threshold is very user-friendly; users do not need to hold overseas bank cards, and during KYC identity verification and address proof, they only need to upload a mainland ID card to pass smoothly.

To help users achieve diversified asset allocation and long-term investments, the platform covers main board stocks and various ETFs from major US exchanges. In terms of fund circulation, deposits of USDT into US stock accounts are exempt from quick credit fees, and during limited-time promotional events, withdrawals from securities accounts as USDT also enjoy a 0 fee rate, realizing seamless integration with the US stock market.

Currently, the platform account @Matrixport_CN is holding a special event. The event is scheduled from February 3, 2026, 00:00 to February 28, 2026, 23:59 Beijing time. During this period, users who open an account will receive a complimentary 30-day L1 Nasdaq Basic real-time market service, and if they complete a deposit, they will also receive an additional 90 days of usage rights.

Registration link:

Regarding whether it is currently possible to enter the market for BTC long positions, it seems that the daily chart has adjusted quite a bit. However, it is regrettable that the actual bottom position is 300 points higher than I expected, and unfortunately, it did not trigger my order.

Having read the stories from the media, it is not surprising that XXX has come this far, as its initial success was based on leveraging. This has given me a deeper understanding of that famous saying: a person's essence determines the life path they choose.

You really shouldn't underestimate yourself and your influence. Look, as soon as you placed an order to buy, the tight supply situation in the storage chip market was immediately alleviated, and the price of lithium mines subsequently stopped rising. The chemical industry seems to have instantly lost its cyclicality, and coal resources seemingly burned out in an instant, even the power supply in the United States is no longer tight. The photovoltaic sector no longer mentions the topic of anti-involution, and the expansion pace of solid-state batteries has also come to a halt. Shortly after, Nvidia's artificial intelligence bubble announced its burst, the crypto market is no longer safe and stable, and the Web3 sector has lost its former vitality. It can be said that with just a buy button, you successfully caused the collapse of the entire global market.

Many so-called teachers from the outside world usually just quickly withdraw to reap a wave of benefits, or they have long been ambushed in advance, just to entice everyone in high positions to enter and lock in profits for them. In contrast, Chongzi sincerely hopes that everyone can calm down and carefully analyze the fundamentals. After all, the essence of stock market games boils down to the relationship between supply and demand.

https://xiaoyinsi.com/blog/recommend-books-on-finance

In the face of the current dull and lack of volatility in the market, it might be a good idea to take a break early.

A few years ago, there was a prevalent view in the industry regarding Pinduoduo, which was theoretically based on Huang Zheng's article "Turning Capitalism Upside Down."

At that time, many media interpretations suggested that merchants on the Pinduoduo platform provided discounts to consumers in a manner similar to selling insurance, selling surplus production capacity to users at low prices through a supply chain reservation model. This logic seemingly solved the problem of merchants' inventory backlog and assumed that consumer demand was infinite, but this perspective actually has obvious flaws.

To delve into the biggest difference between Pinduoduo and Alibaba's Taobao and Tmall, it actually lies in the fact that Pinduoduo views merchants as consumables, while Alibaba sees consumers as consumables.

In the Taobao and Tmall system, white-label merchants often imply low added value. Combined with the traffic added value logic led by Alibaba Mama, and Alibaba's long-standing reliance on large-scale external procurement without producing traffic itself—this has given it a massive budget, making it appear as China's number one public relations company. Based on this background, Alibaba views consumers as consumables, while merchants are the source of its cash flow. In such an environment, merchants who do not invest in traffic find it difficult to maintain a competitive advantage in the long term. Understanding this, you can comprehend the conditions under which Alibaba's motto, "Let there be no difficult business in the world," was born.

Therefore, Alibaba has a strong motivation to clear low added value white-label production capacity from the platform, otherwise it would face the risk of counterfeit goods, which is also the reason why market regulators have repeatedly rectified it. This logic is quite similar to the capital's decongestion of non-core functions. Once this part of the production capacity is expelled, Pinduoduo takes the opportunity to establish its operational logic of viewing merchants as consumables.

A more reasonable explanation for Pinduoduo's rise is their assumption that consumers are limited. As a company that highly pursues efficiency, constrained by daily active user numbers (DAU) and customer lifetime value (LTV), Pinduoduo has a gap in user volume and purchasing power compared to the Taobao and Tmall systems. Naturally, to compete for Alibaba's users, it can only rely on low-priced product strategies, forcing merchants to provide discounts. They adopted a strategy of surrounding the cities from the countryside, continuously absorbing white-label production capacity eliminated by the market, and transferring benefits to consumers, after all, the final payers are the consumers, just as the saying goes, "wool comes from the sheep."

This is not only the fundamental logic that enables Pinduoduo to grow and thrive but also explains why, despite continuous alliances of small merchants to resist, they ultimately still have to submit to Pinduoduo's traffic allocation mechanism.

As for the often-criticized negative evaluations regarding cut-throat marketing, employee exploitation, long working hours, and the debate over whether Pinduoduo is a proper company, these do not affect its essence. Pinduoduo is still a proper company because its core focus is solely on one thing: how to extract more benefits from merchants and transfer them to ordinary consumers, even if this means that the quality of the products may not meet the highest standards.

Each individual must ultimately bear the corresponding costs for the leverage they employ.

Frankly speaking, I have always lacked enthusiasm for getting involved in commodity trading. After all, researching regular commercial companies is relatively straightforward; the core logic is nothing more than studying financial statements and understanding market demand.

However, the commodity sector is much more complex. It requires you to pay attention to macro-level fluctuations, as often a sudden economic data release can trigger significant changes, involving the interplay of interests between different countries. The most critical risk is that, in this market, the main buyers are often state powers. This means your trading counterpart has absolute dominance; if they decide to sell off, it can lead to significant price drops at any time.

Moreover, such state-level operations often occur quietly, with no announcements made before purchases. This is why many investors find themselves trapped at high points in commodities like silver, with no hope of getting out anytime soon.

Speaking of the uniqueness of relevant institutions, my good friend, who grew up with me, has been completely out of touch since starting work at the central bank. No replies on WeChat, no phone calls going through; it feels as though they have evaporated from the world, and this sense of losing contact is incredibly frustrating and helpless.

Frankly speaking, I really have no enthusiasm for getting involved in commodity trading. In contrast, analyzing conventional businesses is much simpler; the focus is simply on studying financial statements and assessing market demand. However, the commodity market is completely different; it not only requires investors to pay constant attention to macro-level fluctuations—often a sudden economic data release can lead to a drastic change in direction—but also involves complex games between countries. What is most daunting is that the core participants in this market are usually state entities. Imagine your opponent having the power to dramatically drop prices in an instant, and they will never leak any hints before taking action. This is also the fundamental reason why those who were trapped at high silver prices often waited for many years. In other words, if the national level decides to operate on a certain asset, the outside world cannot predict it in advance at all. This reminds me of a very close childhood friend; ever since he started working at the central bank, I haven't been able to contact him via WeChat or phone, and he seems to have evaporated from the world, which is truly helpless.