A few updates/additions. 1/ Currency devaluation is inevitable in modern economic development, and this trend is global. Regardless of how one views its cyclicality, this broader trend is unidirectional and irreversible. 2/ Any listed company should at least approach its crypto asset allocation with a hedging mindset. Similarly, any company, even startups, including today's so-called one-person companies, should treat cryptocurrency with at least the same level of attention as they approach the challenges of artificial intelligence technology. 3/ Both opportunities and risks must be addressed. Therefore, managing crypto assets effectively is a professional endeavor. Today's cryptocurrency stocks represent a more extreme subset of this broader asset allocation model. Of course, they also face greater challenges.

Update: Everyone can only perceive others within their own cognitive capabilities. Really, I am no exception.

Update/The essence of the difference between experts and amateurs, the so-called knowing and not knowing, is actually the difference between doing and not doing. The former take things for granted, principles or methods that are incredibly simple, even tried and tested by others. But you, on the other hand, face a vast chasm. Practice is the only way to go from amateur to expert. Once you try something, you'll instantly realize it.

Tonight, at 1:00 AM Beijing time on September 4th, a defining moment will arrive at the intersection of crypto and traditional finance. A full year after the RWA narrative has been heating up, Ondo Finance, the highly anticipated leader in the sector, will launch its "Ondo Global Markets" on Ethereum. This is more than just a product launch; it raises a crucial question about the future of the entire RWA sector, formally catapulting the long-standing divergence in the tokenized equity space into the arena of the "three paradigms war." Countdown to Ondo's Launch: Beyond the Trillion-Dollar Market, You Must Understand the Three RWA Paradigms War https://t.co/8hy6rh2E4f

Update: People should focus on the long term and seek compound interest through small steps. The whole world is new, like a Roguelike. Accumulate level experience and start a new game at any time.

Update/Bridgewater founder Ray Dalio further stated his bullish stance on cryptocurrencies on three points. Key points include: 1. While he does not believe that deregulation of cryptocurrencies will threaten the US dollar's reserve currency status, the distressed debt situation of the US dollar and other reserve currency governments does affect their attractiveness as reserve currencies and storeholds of wealth, which has been a factor driving the prices of gold and cryptocurrencies. 2. He does not believe that stablecoins' exposure to Treasury bonds poses a systemic risk. The real risk lies in the decline in the actual purchasing power of Treasury bonds, which should not pose any systemic risk if stablecoins are well regulated. 3. Cryptocurrencies are currently an alternative currency with a limited supply. Therefore, all things being equal, an increase in the US dollar money supply and/or a decline in demand for it could make cryptocurrencies an attractive alternative.

Update/Recently, I have received a series of calls from bosses who are looking to list their overseas businesses to discuss the technical aspects of issuing RWAs. Many of these calls are driven by our common investors, and it seems that the more traditional the companies, the more proactive they are.

See Information Operations and Unmanned Operations.

Update/coin shares are the product of historical limitations and a tactical step back for Crypto before it moves towards RWA because RWA is not yet ready.

Update: It is not worth arbitrage using BTC.