Source: Liu Jiaolian

Overnight, BTC once again pulled back from nearly $90,000 to $84k. BTC 'crashed' again. Over the past decade, BTC has constantly crashed upwards, which is truly a dark humor reminiscent of the US military's 'retrograde offensive' on the Korean Peninsula back then.

Are you afraid of heights? It's normal to be afraid of heights. I was afraid of heights when I saw BTC at 100 yuan back then. But after seeing it so much and getting used to it, I'm no longer afraid of heights. Even when it reaches 1 million dollars in the future, looking back at the current 90,000 dollars will be insignificant, okay?

JiaoChain says, holding coins is cultivation.

BTC is always constantly refreshing our understanding, reshaping our outlook on life. So much so that it makes us rethink the "common sense" we have acquired over the past few decades, and boldly break through old conventions, opening up new wisdom.

In that moment, suddenly enlightened, as if opening the Heavenly Eye.

Super diamond hand, founder of MicroStrategy, Michael Saylor, once shared the '21 Rules of BTC' (Educational Chain article on 2024.7.17). One of them, rule 9, says:

Only buy Bitcoin with the money you can't afford to lose.

Translate it into English:

Only buy BTC with money you can afford to lose.

Many Chinese media in the encryption circle have mistakenly translated it as 'buy BTC with only the money you can afford to lose,' and explained that this is to remind people that investment is risky and market entry should be cautious.

Obviously, the author who has not really succeeded in holding BTC cannot understand Michael Saylor's words. Therefore, he mistakenly rewrote them according to common investment sense.

But what Michael Saylor says is actually a kind of 'counter-intuition', a breakthrough and awakening to common sense.

Common sense is of course correct. This is the principle. But unconventional wisdom is a kind of reverse thinking, breaking free from the constraints of principles and entering the realm of the Tao.

You invest in BTC with the money you can afford to lose, and I invest in BTC with the money I can't afford to lose. This is a mind-blowing revelation in itself. It needs to be looked at from the opposite perspective. Once you understand it, you can't help but be amazed.

Cosmic entropy increases. Nature is dangerous. Life is tough. Risks are everywhere. Living itself is a constant struggle against unpredictable risks. Natural disasters, man-made calamities, wars, pandemics, crimes, diseases, inflation, eyewash... A lifetime of peace is already the greatest blessing.

As the saying goes, wealth does not last beyond three generations. Money, money, is not a specific, tangible currency, but an abstract, intangible value. The dissipation of wealth is natural, and the storage of value is human desire.

Where can money be stored without losing? Putting it in cash will be eroded by inflation, frozen or confiscated. Putting it in physical assets will be divided and robbed. Putting it in equity assets will be diluted by major shareholders. Investing in VC coins depends on the project party and major institutions. Speculating in meme coins is purely like buying lottery tickets. As for leveraging and opening contracts, it is no different from gambling.

In short, there are ten thousand ways to lose money, but no one will tell you how to not lose.

Why? If you don't lose, how can they win?

There is some money that is my living expenses, retirement money, life-saving money, and it is money that I cannot afford to lose. Where can I put this money to ensure safety?

Many people underestimate the weight of the phrase 'value storage'. These four words are as heavy as Mount Tai. Many KOLs boast about how these altcoins and meme tokens can also be considered as 'value storage'. It's like talking nonsense.

Going round and round, I found BTC. I discovered that keeping money in BTC is the safest.

The money is in BTC, and the money becomes BTC. BTC becomes money, the money I can't afford to lose.

BTC is money I can't afford to lose.

So, one eternal principle is to never use BTC to do something that may result in a loss—such as speculating on altcoins with BTC, which is extremely foolish.

Bull run is coming. Some are already thinking about taking profit and escaping the peak. Fren also asked the Chain of Education: Do you consider taking profit in a big bull market?

The teaching chain uniformly answers: no.

To put it in a few more words: there is no stop-loss plan at the moment.

What does take profit mean? take profit has two meanings:

First, no longer holding BTC, but holding Fiat Currency (possibly in the form of a certain Fiat Currency stablecoin). This means that the situation has changed from not losing to potentially losing (due to inflation, etc.). You might say that after escaping the peak, you're not holding Fiat Currency for the long term, but rather waiting for the fall to catch the bottom and buy back more. This is speculation.

Second, speculative take profit. The goal is to sell high and buy low, increasing the holding of BTC. Is there a possibility of losing in speculation? Of course. This means that the certainty of not losing has turned into the possibility of losing. You say I definitely won't lose 100%. Then this can be easily refuted by the fallacy of presumption: by repeated operations, all BTC can be earned. This is obviously impossible. A random success, tasting the sweetness, will inevitably lead to a second time, a third time... until losing everything.

Not taking profit is not about not wanting to earn more BTC, but about not being able to afford the loss.

If you think you can afford to lose, and don't mind losing every bit of BTC you've worked hard to accumulate, then feel free to take bold actions under the premise of taking full responsibility and being willing to accept the consequences of gambling.

But please remember: BTC does not disappoint anyone who does not disappoint it. But if someone disappoints it, it will bury them.

Not making a profit does not mean not reducing holdings. When increasing BTC holdings, I am nurturing BTC; when reducing BTC holdings, BTC is nurturing me. The reduction is definitely for necessary expenses, not for holding Fiat Currency or speculation.

People who do not understand the true meaning of BTC often criticize holding BTC as selling to dumb buying people in the future. It seems to be a very bad and evil thing.

They do not understand that the human society community is constructed through mutual support. When I was young, I worked hard and shouldered the heavy burden of society. When I am old, I become the heavy burden of society and need the younger generation to shoulder it. In times of prosperity, I contribute to society and create value for it. In times of adversity, I consume the value of society and need others to contribute to help.

When I increase the positionBTC today, the value represented by this BTC flows through the BTC network to somewhere or someone in the world. He may be a programmer in need of living expenses, a father in urgent need of funds to treat his daughter, or a logistics person in a country at war...

BTC does not make value judgments. It has a noble internationalist sentiment, accommodating all people's needs. Its only criterion is whether the demand is urgent.

BTC is borderless. It is only responsible for transmitting the value I saved today to another person far away at the speed of light, or even distributing it to many people to meet their current needs.

No matter what motives the people who increase their positions in BTC have, BTC turns them into the happy prince in fairy tales who gives the poor people all his jewels.

When I reduce my BTC holdings in the future, no matter what my needs are, whether I need money to cover living expenses for the next year, pay my child's tuition, urgently need funds for medical treatment, or want to make a donation to the country for national defense, there will be one or more completely unfamiliar strangers, scattered around the world, far away, who do not make any value judgments or evaluations of my needs, unlike insurance companies that rigorously examine my policies, and deliver the value I need to my hands at the speed of light, so that I can immediately satisfy my needs.

At that moment, they all became the generous and happy prince. They are my benefactors.

When I put my money into some kind of asset under the regulation of a certain country, my confidence in not losing comes from believing that this country will not lose.

When I put money in BTC, my confidence in not losing comes from believing that all humanity will not lose.

BTC will not lose, because China will not lose, the United States will not lose, El Salvador will not lose, MicroStrategy will not lose, TSL will not lose, BlackRock will not lose, billions of BTC holders worldwide will not lose, the community of shared future for mankind will not lose...

Money that you can't afford to lose should definitely be placed where you won't lose it.

Above is the interpretation and understanding of Michael Saylor's words by JouleChain.