A round of decline has washed away so much glitz, and people will realize that getting rich overnight is an illusion, and sticking to long-termism is the right way.
Looking at the past, how many famous people have become history. Only then can we understand the saying:
Investment is not about who makes more money, but who lives longer.
However, long-termism is not simply doing one thing all the time. I happened to read an article by Teacher Liu Run these two days, and I have in-depth thoughts on long-termism. For us, the essence of long-termism is to insist on compound growth, that is, to find the right direction, insist on it and keep improving.
There are three keywords: 1. Right direction; 2. Long-term persistence; 3. Continuous improvement
1 Right direction
In terms of industry selection, generally speaking, it is to exclude those industries or positions that will be eliminated in the future. If the requirements are higher, then those industries with potential in the future. For blockchain practitioners, they naturally believe in the future of this industry.
From a smaller dimension, an industry is also very large, and there are many choices. For example, you can start a business, do projects, play games, invest in the first level, go to work (various positions), play games in the second level, and play MeMe, etc. These directions are all good, and the right choice here is to be good at what you like.
2 Long-term persistence
To achieve compound growth, long-term persistence is necessary. Compound growth requires the accumulation of time. In fact, in the currency circle, this is the most difficult to expand. Those who see that playing games makes money, go to play games, see that someone gets rich by playing MeMe, and see that mining makes money, go to buy mining machines. That is definitely not compound growth. But driven by the effect of getting rich, most people will go with the flow.
3 Continuous improvement
For compound growth, continuous improvement is the most critical point. If you just do one thing over and over again, even if you do it 100 million times, it is still that thing. Therefore, there will be a 35-year-old crisis in society. The simpler and more repetitive the position, the more likely it is to have a 35-year-old crisis, because they are easily taken over by newcomers.
Continuous improvement, a very recommended measure is regular review. Regular review means constantly summarizing the good and bad aspects and improving them.
In this way, persistence still makes sense.
