Ordinary people are different from big players.
Big players dominate ordinary people in terms of money, connections, knowledge, and experience as long as they compete within their area of expertise. No matter how talented you are, being fully exploited and losing everything is a high probability event. Because this competition is inherently an unfair game.
Buffett and many economic leaders say Bitcoin is a bubble because Bitcoin is a new phenomenon. It's difficult for these leaders to leverage their accumulated experience, knowledge, and influence to control and reap profits; they have to start learning anew, running the marathon from the same starting point as ordinary people. In fact, if ordinary people enter the market earlier and lay out their strategies first, they could even turn the tables on the big players.
There have been many such occurrences in history. When Vanderbilt was born, the textile industry was thriving, and cotton profits were at their highest. If he compared cotton planting with the South, he would have a hard time winning. But he invested in shipping and railroads, catching the wave of the Gilded Age, and thus became the richest.
Rockefeller came from a poor background. When he was young, railroads were the most profitable. If he engaged in the railroad business, it would have been difficult to compete with Vanderbilt. He chose oil and coincided with the Second Industrial Revolution, leading to a surge in oil demand, thus Rockefeller became the new richest through effort and luck.
Murdoch is in a similar situation. When he was born, the oil industry was the most profitable. If he had gone into oil instead of media, do you think he could compete with Exxon? Could he be as successful as he is today?
Realizing this, when you look back at the analysis of economists, much of it is official rhetoric, clichés, and echoing others. 'Governments will not recognize Bitcoin,' but you should know that some black markets, which cannot be exposed, happen to need Bitcoin for transactions and money laundering, so the demand for Bitcoin is hard to suppress to zero.
"Bitcoin has deflationary properties, so it is difficult to replace fiat currency," this is also a cliché. If a small country has poor economic fundamentals and hyperinflation, with low trust in fiat currency, Bitcoin could actually hold its value better. Recognizing Bitcoin as fiat currency could also create a financial free port to attract investment.
It is certain that Bitcoin has a bubble because it carries the unrealistic expectations of ordinary people. There were bubbles in the internet before Bitcoin, and there will be bubbles in large models and new energy after Bitcoin, but emerging phenomena are always the best opportunities for ordinary people because everyone has to relearn, the weight of the advantages that the rich have accumulated decreases, and the chances for ordinary people to succeed through effort and luck increase.
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