The Cost of Cognitive Deficiencies:

Time is a wonderful thing; when you look back over a long enough period, Bitcoin's meteoric rise is intoxicating. But how many people can hold on from the beginning to the end? I can find relatively complete records of Bitcoin exchanges, with the historical lowest price at $2 in late 2011 and the highest record at $108,000 by the end of 2024! A 50,000-fold increase over 13 years!

Personal Cognitive Deficiencies: I entered the crypto space in November 2019, and at that time, I had the opportunity to meet a top Chinese IT expert in the crypto world who had his own team in Silicon Valley developing a public blockchain. I remember he impressed me deeply when he said, "If you have money, just hold onto some Bitcoin! In the future, Bitcoin will rise to $1 million," even though it was only around $6,000 at that time. He also mentioned that aside from money for food, all their surplus was used to buy and hold Bitcoin, whether it was during the peak at over $10,000 or the trough at over $3,000; he only bought more. He was very firm that Bitcoin would reach $1 million each! But for a newcomer like me, it felt like a far-fetched fantasy, and of course, I didn't act on it. I also knew that today, the amount of Bitcoin in his account is considerable. Over the years, I treated it like a story and never seriously planned it, instead continuously trading the Bitcoin and Ethereum I had for altcoins, which ultimately turned into air. Today, it's like one in the sky and one underground; this is the cost of the deficiencies in cognition.

I often wonder, if time could rewind to 2019, and I had seriously listened to his words and acted on them, what would the result have been?