All is about to obtain the insight and competency to create certain forms of business, bringing value to others, and as a return, gain profit, garnering in the form of dividend income or capital gain.

This is the essence of Investment. To realize this goal, one can either creating the business himself or put in money to be part of shareholders of business entities. Extraordinary people like Peter Thiel usually do both because the ability to do former or latter one is interchangable.

For latter one, people mostly emphasize tools or tactics such as quant strategies, options, leverages, fed signal so on and so forth. These are not umpimportant, but if the resources and time is limited, it’s worthy to know the essence and be laser-focusing on one thing.

To do better on this one thing – bring value to others. We should have futuristic and macro-level perspectives.

AI tech, Pinduoduo model, Wechat ecosystem, seamless transportation, digital payment …

And from the same essence based logic, bitcoin or any other cryptocurrency is a just a fad. Why?

It can be thought as if a rare piece of art, hard to produce, hard to copy, like a famous Italian artist put his fresh poop in a sealed jar and sold it for tens of thousands of dollars. Because everyone recognize and agree it is rare, hence “ideal” to serve as currency, so people all rush in bidding the price to an astronomical high level. If it only accounts for a trivial fraction of the whole economy, it’s fine, but imagine the whole economy is take up by this jar of shit? I can’t imagine mass people just want to give away their hard-earned dollars, vis a vi, their brain and/or physical labor in exchange for a fractional piece of that artist’s feces. What on earth are they thinking to make this happen? Willingly slave themselves to that artist and middle men/brokers around that artist? It’s ridiculous, right? But isn’t bitcoin exactly the same logic here?

It’s essentially sucking out the money from hard-working people to a few con artists:

Why on earth will all people willingly slave themselves to work for original bitcoin creators/miners/brokers/speculators?

I even leave out the role of government, which by nature, go against any cyrptocurrency. Even it’s a viable currency, will any government allow it legit?

Some may argue that the government who issues dollars are also a con-artist, if not the biggest, yes, I agree. I am not denying that. Hence I also agree that holding on large position of cash/dollars is not a good idea. The biggest con-artist is always trying to inflate and rob value from you. But the best way is to convert that to “essence of investment” – business vehicle or certificate to be shareholders of business vehicle, which constantly and actually produce value.