Source: Daoshuo Blockchain
Over the weekend, many self-media spread a video of Wang Xing and Wang Xiaochuan talking about Bitcoin.
This video was recorded in 2014 (see the reference link after the article). At that time, I am afraid that most of us had not heard of Bitcoin, or even if we heard of it, we were full of disdain or even misunderstanding and hostility towards it.
The more such a conversation is in the context of time and space, the more it can reflect the difference in thinking. I suggest that everyone watch this video and compare it with our past selves to see what we can understand, reflect on and learn from this conversation.
In this conversation, there are several points that left a deep impression on me:
- When discussing why Bitcoin is so great, Wang Xiaochuan subconsciously mentioned technology; while Wang Xing talked about it using many other things. After this hint, Wang Xiaochuan mentioned that sociology was used.
This reminds me of an issue that I often think about in investment:
What is the role of the understanding of technology in investment?
I think technology is undoubtedly important, but at a higher level is our imagination of the use and significance of technology-------what will this technology change? How will it affect us?
If we don't think about this level, we will subconsciously focus on the technology itself, thereby comparing the pros and cons of technology and even have a short-sighted view: this technology still has many defects, so this application is nothing, this thing is useless, this thing is worthless.
If we can think of the significance of technology, we will think about the changes that technology may cause, and see the brilliant tomorrow presented to us by imagination.
In my limited cognition, all the predecessors who have achieved outstanding results in the field of venture capital think in this way.
- Wang Xing mentioned that when he and other companions talked about Bitcoin, they compared a series of Internet giant applications such as Facebook. He believed that if they were given similar environments and similar opportunities, they could also develop similar applications; however, Bitcoin, they could not develop it anyway. Bitcoin is a completely unrealistic invention.
I think this cognition is profound.
When I look at the experiences of some investment masters and predecessors, I often have this feeling: if some people do something, I may be able to do it if I am given similar conditions and opportunities, but if others do something, I will never be able to do it in my lifetime if I am given better conditions.
This is a key to distinguishing between excellence and top-level.
- When talking about buying Bitcoin, Wang Xing directly said that he bought three of them just to show respect, while Wang Xiaochuan did not express his opinion on this.
I often use Wang Xing's approach in my own operations. From time to time, some of the projects I buy are not for making money at all, but for a dream I once had, or to express a kind of respect.
I think sometimes this kind of romance and purity can bring unexpected surprises to myself during the investment process.
- When talking about the significance of Bitcoin, Wang Xiaochuan believes that the role of Bitcoin is to subvert the government, and he believes that the government cannot be subverted, so the significance of Bitcoin is limited.
To be frank, I think this cognition can well reflect a person's ideological background, the boundaries of a person's imagination, and even whether he has the ability to break through the framework of thinking.
First of all, I don't think that the role of Bitcoin is to subvert the government, but I tend to think that it subverts centralized transfers and banks.
Secondly, it is not important what he thinks the role of Bitcoin is. What is important is that he thinks that what Bitcoin can subvert cannot be subverted.
This is the deep core reflected in his point of view.
This idea reflects that in the depths of his mind, he believes that there are some things that cannot be broken through and challenged. More specifically, he believes that there is a sacred and inviolable authority in the world, and it is absolutely impossible to break through that authority.
In my opinion, one of the greatest qualities of human beings is boundless imagination. What is boundless?
Boundlessness means being unrestrained, daring to release imagination, and daring to let it soar.
If imagination still has boundaries, how can technologies such as Starlink, immigration to Mars, and reusable rockets be realized? Which of these technologies is not an application that breaks through the boundaries of thinking? I do not deny that these applications are technically great, but I think that if there is no penetration in thinking, no matter how great the technology is, it is impossible to talk about it.
His thinking is locked within a set boundary, so his imagination is destined to be limited to a limited range.
There are many collisions of thoughts in this conversation that are worth chewing over and over again.
After reading this conversation, I feel deeply that:
When we encounter epic investment opportunities, what we compare is not the cognition at the technical level, but the cognition at the value level (or ideology).
For Bitcoin, the reason why many people have completely missed this epic train from beginning to end is that they have values, just like Wang Xiaochuan's cognition: How can this thing be XXX? So Bitcoin is just XXX.
Even when Bitcoin has broken through $100,000, many people still hold on to the old cognition that I can say with my eyes closed.
The express train of history whizzes by, leaving behind those who are behind in cognition without even saying hello.
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