Liu Jiaolian
Overnight, BTC surged to 71k, which is less than $3000 away from the new high of 73.8k reached by inertia in mid-March 2021 after breaking through the previous high. Some readers who are not very familiar with BTC may refer to the new high of 73.8k as the “previous high”, but this is incorrect. Unlike the stock market, BTC has a default reference system here – the Satoshi cycle. That is, the production halving cycle that occurs approximately every 4 years. Only the 69k at the end of 2021 will be called the “previous high”, while the partial new high in mid-March 2024 will not be called that.
Today is June 6, 2024. Five days ago on June 1, Jiaolian reported the closing of the first year of the “Ten-Year Covenant”, specifically written in the article on June 1 titled “Ten-Year Covenant #24: The First Battle was Successful, Successfully Withdrew! First-Year Return Rate 64%”, for readers who missed it, you can click to review.
On June 6 last year, Jiaolian decided to start the “Ten-Year Covenant” live demonstration plan. A picture is worth a thousand words, sometimes more convincing than mere words. This is the reason why “the weapon of criticism cannot replace the criticism of weapons”. Jiaolian’s articles are the “weapons of criticism”, while Jiaolian’s position is the “criticism of weapons”.
Today, it is June 6 again. BTC has weathered the storm and once again reached 70,000 dollars. The “Ten-Year Covenant” has also started the starting point of a new year’s journey. Today, as agreed, 194,426 satoshis were added, the holding increased to 8.23 million satoshis, with a post-investment ROI of 69% (see table below). This is the 17th additional investment and the 25th report of this plan.
Some friends like to speak with pictures. Jiaolian found a software that can draw charts and roughly drew it (as shown below). The green curve presented is the growth chart of the value of the “Ten-Year Covenant” position. Do not mind the slight error, but this is the problem with third-party software, so Jiaolian insists on using the most basic electronic spreadsheets for manual bookkeeping.
Some friends are more straightforward, they place their positions directly on the trading platform, and then look at the platform’s numbers. This is not serious investment behavior. Platforms usually delete historical records in a few months, or a year or more, making it impossible to trace back and accurately track the situation after withdrawing.
To succeed in investing, start by doing the basic work of keeping accounts. Keeping accounts, this boring work, is like Shaolin monks fetching water and sweeping the floor every day, or soldiers in the Liberation Army folding the bedding into neat “tofu blocks” every day. Seemingly inconspicuous little things are the fundamental basis for mastering extraordinary skills and achieving outstanding achievements.
There are still readers who often ask, looking at this data, it seems that only 0.08 bitcoins have been saved in a year, and considering that the price will rise in the future, it is estimated that not even one bitcoin will be saved in ten years. This kind of thinking is called “absolute value thinking”. The moment you speak it out, you reveal that you are still a pure novice standing outside the investment door. The term “novice” is not pejorative or critical, it is just an objective description of a state. When you abandon absolute value thinking and establish “relative proportion thinking”, or “percentage thinking”, that is when you truly step into the investment door.
What is “relative proportion thinking”? It means that for the “Ten-Year Covenant” live model, you can proportionally scale down the numbers, for example, increasing by 10 times or reducing to 1/10, and the results of this model will remain unchanged. The post-investment ROI of the 17th additional investment should be 69% or 69%. The growth pattern of the green curve in the above picture will not change at all. More money, just increase it by a few times. Less money, just reduce it a bit. The rate of return and growth curve all remain unchanged. Of course, you cannot increase it too much, for example, if you have to buy 100 million BTC in one additional investment, that is not feasible.
Your thinking determines what the world looks like in your eyes. Therefore, it is important to establish the correct thinking and view the world with the right perspective. As for why Jiaolian chose this number initially? It is said that there are still 600 million people in our country whose monthly income is less than 1000 yuan. BTC should also be a financial tool for the poor, even a “talisman” for the poor to resist exploitation. The “Ten-Year Covenant” aims to stand on the side of the most ordinary people, stand on the side of the “leeks”. Jiaolian has repeatedly argued before that the lower the value of BTC in the hands of fewer rich people, the higher its value; the more BTC in the hands of more poor people, the higher its value. The value of decentralization must be achieved through the most widespread distribution of holdings.
Another common question is, if the price is expected to rise in the next ten years, why not take advantage of the low price at the beginning, go all-in at once, and then hold for the long term? The answer to this question is actually very simple: because for the vast majority of people, wages are received monthly, and money from business is earned bit by bit. So, step by step, to reach a long distance. Getting rich overnight is certainly exciting, but what is most suitable for the vast majority of ordinary people is to walk with time and gradually become wealthy.
(Official Account: Liu Jiaolian. Knowledge Planet: reply “Planet” to the official account)
(Disclaimer: The content of this article does not constitute any investment advice. Cryptocurrencies are highly risky assets, with the risk of going to zero at any time. Please participate cautiously and take responsibility for yourself.)