If you want to make quick money from investment, the basic outcome is to give away money, If you want to earn long-term value from investment, it often may bring surprises instead. If you want others to take over your investment, you will ultimately be swallowed by even darker hands. If you want to learn and share together through investment, it will be easier to accumulate value and merit.
In short, you must be true to your conscience; only then can some invisible forces be activated in the midst of it all. This is also an interesting deep-level philosophy, the way of balance.
Warren Buffett once said 'Bitcoin does not generate value,' just as he feels gold has no value either, but the definition of value varies from person to person, and the same asset can have entirely different values across different time periods and external environments.
Storing value through gold is also a form of value; perhaps it doesn't fit the concept of cash flow growth in value investing.
As the ecosystem of $BTC continues to develop, other cryptocurrencies such as $ETH $BNB are also included. If certain chains or protocols can provide stable income and equity distribution for Tokens in the future, their valuation models may significantly converge with those of traditional companies, or even give rise to entirely new valuation models.
STi克莱小汤
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The Key Value of Munger and Buffett's Long-Term Thinking Model for Web3
Author: STi, Silver Moon, Nahida When the blockchain industry entered the high-speed cycle from 2020 to 2026, its core contradiction remained unchanged: cutting-edge technology follows strong cycles and early-stage speculation; genuine long-term value creation remains rare and difficult to quantify, or the concept of value is understood differently. This closely resembles the early stage of tech stocks in the last century and directly contrasts with the investment framework consistently upheld by Munger and Buffett for decades. Although Buffett and Munger have consistently publicly opposed BTC—or perhaps it's a secret they won't admit—on one hand, it may stem from a long-standing habit of the Old Money model, and on the other hand, they oppose 'high premium expectations under extreme uncertainty' and 'valuation logic without cash flow support.' This perspective holds significant reference value for the long-term healthy development of the blockchain industry, particularly for project ecosystems.
The Key Value of Munger and Buffett's Long-Term Thinking Model for Web3
Author: STi, Silver Moon, Nahida When the blockchain industry entered the high-speed cycle from 2020 to 2026, its core contradiction remained unchanged: cutting-edge technology follows strong cycles and early-stage speculation; genuine long-term value creation remains rare and difficult to quantify, or the concept of value is understood differently. This closely resembles the early stage of tech stocks in the last century and directly contrasts with the investment framework consistently upheld by Munger and Buffett for decades. Although Buffett and Munger have consistently publicly opposed BTC—or perhaps it's a secret they won't admit—on one hand, it may stem from a long-standing habit of the Old Money model, and on the other hand, they oppose 'high premium expectations under extreme uncertainty' and 'valuation logic without cash flow support.' This perspective holds significant reference value for the long-term healthy development of the blockchain industry, particularly for project ecosystems.
Value investors are inevitably not popular. Simply put, would you have paid much attention to those who bought gold in 2022? Only those currently desperately chasing gold will attract traffic. $XAG $XAU #gold $BTC
The core difference between investing and speculation lies in time and intrinsic value.
Speculation is essentially a short-term博弈 🎰, often risking small assets for the chance of large returns. This pattern frequently leads to becoming addicted after a few wins, shifting to betting large amounts for small gains. A single unexpected black swan event can result in Game Over (hedge funds, sports betting, Texas Hold'em, high-frequency quant strategies are essentially all of this type), but the advantage is speed.
The essence of investing lies in identifying long-term growth potential and valuation mispricing. The advantage is objectivity, long-term stability, and dependability, but it requires the ability to accurately judge the true long-term value of an asset. This demands effort, talent, inspiration, and familiarity.
Therefore, although the theory of value investing is widely known, very few people can withstand the test of time and diligently conduct research. This is one of the reasons why speculative and hedge funds are so numerous, while funds focused on long-term value are rare and difficult to sustain.
Carefully observe that the FDV of new listings in the past two months has been low, yet there is still no listing effect whatsoever. This is the biggest side effect of 2025年#Alpha and chaotic Meme coins—fees were earned, but reputation, quality, and branding have declined. $BNB $币安人生 $BREV
This is similar to Yzi Labs, overly focused on hiring individuals with impressive Web2 'prestigious' education and resumes, while overlooking the fact that this is a Web3 investment. Hiring outsiders as leaders results in complete chaos. Even if @CZ is excellent at product management, when it comes to capital leadership, one should seek individuals with genuine early-stage Web3 project design or investment experience.
2026 Happy New Year, I hope everyone can earn and break through their cultivation level together. Bilibili's New Year's Eve party this year has a taste of dreaming back to 2019, with thoughts reaching $BTC $ETH $AVAX
In 2025, we witnessed an absurd phenomenon: "Projects that actually get things done are not as good as CX and garbage coin projects. This has led to a rare serious disconnection between the fundamentals and the price of so-called "high-quality public chains" and "blue chips" (Value Disconnect), which is inextricably related to the listing strategy of exchanges and the excess Alpha generated from chasing transaction fees, as well as the excessive launch of Meme and garbage new coins. Almost all mainstream coins, except BTC and BNB, are in a deep bear market.
As the industry leader, Binance launched around 70 new coins in 2025, with countless numbers in #ALPHA , more than 95% - over 80%. Looking ahead to 2026, I hope the listing team can do some thorough research on whether branding is important or those transaction fees are significant when the compliance window is about to arrive. Gate can play this way because Gate is a second-tier exchange with less reputational burden. But Binance playing like this could easily lead to losses. @CZ
Meta has invested billions of dollars to acquire Manus, which shows how eager Meta is. But to be honest, Meta is more suited for Web2 and non-AI fields; it feels like their investment level in AI is as easy as SoftBank to take over the unsuspecting big shots.
$BTC $ETH $BNB options and futures market is also likely to suffocate all the bullish positions looking at the end of 2025 before making a decision.
This year, a large gold mine was discovered in Heilongjiang, with a maximum of 1,440 tons, valued at 208.8 billion dollars. Jilin Province has just discovered a gold reserve at the 100-ton level, approximately worth 14.5 billion dollars. Currently, the global total is about 348,300 tons (both mined and unmined). #比特币与黄金战争 $BTC and the inflation rate of gold is indeed 55-45, even lower for BTC. It is uncertain whether larger scale gold captures will occur in the future, but BTC has indeed been artificially capped in total supply. #GOLD The total market value is currently about 17.1 times that of BTC's total market value.
I discovered a characteristic: many major Web3 organizations and foundations hire a bunch of very "interview-savvy" talents. Their resumes and experiences look impressive, but none can truly present a tangible Web3 case. However, they excel at this, and the side effects often only become apparent 1-2 years later, by which time the costs have already sunk or they have profited enough. Only those who truly understand know the tricks, but they are often too lazy to speak up. $BTC $ETH $BNB
How is the energy storage going? When someone who has a long-term vision and values is constantly engaged in speculation and memes, if they are institutional partners, please quickly divest. Although one day they may suddenly realize, it might have already caused irreversible losses to the fund. The same logic applies to exchanges, but the slightly different aspect is that even if they overdraw their long-term reputation, short-term meme exchanges can still collect fees. However, it will consume the trust of long-term institutions, especially large ones. Keep it up for the future
Puzzle 🧩 is like turning chaotic clues into order, and it also exercises the mindset of investors who need research clues and the patience to wait ⌛️. $BTC $ETH $BNB cannot be avoided just because finding good projects is difficult; making the right choices is essential. Positioning and luck 🍀 are also very important, and sometimes a key piece 🧩 might be the one that is accidentally put together correctly.
The industry has reached a point where it must help real projects. Real users, no fake memes, no short-term misleading traffic projects. Some projects have over 10 million real users, developed over five years, going through bull and bear markets without getting listed, while a random 2-person meme can get listed on Binance. Isn't that funny? #巨鲸动向 $BTC $ETH $BNB