⚡ I have carefully read @ heyibintance's learning essay and gained a deep understanding. I am a typical long termist, playing Meme less, and even now I am just a first-class corporal. A few points mentioned by Sister One, let me share my own understanding—— one ⃣ About Meme's Subculture and Vitality The subculture in Meme is essentially the resonance of group emotions and self-expression of values. To make P more meaningful, one must find symbols that can evoke genuine resonance. Doge's success proves the power of "anti mainstream narrative", and its true persistence comes from three points: 1) Cultural parasitism: attached to lower level needs (such as the self mockery and ironic spirit of grassroots revelry); 2) Value Accumulation: Evolution from Entertainment Symbols to Payment Scenarios (Tesla Supports Doge Payment); 3) Elon Musk's celebrity IP persistently calls for endorsement. If you play Meme and cannot find this symbol, the buying consensus is dispersed and deconstructed, and there is no way to find points that can be co built from various aspects such as future development and community beliefs, and you forcefully "ride" to FOMO, then you are likely to become the exit liquidity of the previous players. Meme is an attention economy, and its true value lies in its ability to transform short-term attention into long-term cultural consensus. You can use the Meme three factor test method and ask three questions first: 1) Can it carry real group emotions? 2) Is there an evolutionary scenario? 3) Does it have "resistance to deconstruction"? (Like Doge's dog totem cultural genes) Of course, my suggestion is to play less, because if P loses, you get free money, and if P wins, you will keep playing. two ⃣ The essence of long termism is value calibration The "choosing the right long-term oriented object" proposed by Sister Yi points out the core of most people's failure: misunderstanding "persistence" as "immutability" rather than dynamically verifying value anchors. The act of buying coins for investment emphasizes the integration of knowledge and action, and practice leads to true knowledge. It is important to follow key logical chains, such as—— ▶️ Web3's cycle law: technology shows a maturity curve (e.g. DeFi from foam to real income agreement) ▶️ Value Regression Path: Short term Perspective on Narrative (such as AI), Long term Perspective on Infrastructure (such as L2 Scaling, Chain Abstraction) There are many logical chains of this kind, and the focus is on your research. It is recommended to verify once every quarter whether the investment logic has been disrupted, rather than holding mechanically. Long termism without these supports, which is called a diamond hand, is actually just a form of gambling. three ⃣ The danger of a bull market lies in 'excessive FOMO', while the opportunity lies in 'poor non consensus cognition'. The "second level thinking" proposed by Howard Marks in "The Most Important Thing in Investment" is worth examining, which refers to a way of thinking that goes beyond market consensus and surface phenomena, deeply analyzes the essence of problems, the psychology of market participants, and potential risks. The core lies in—— First level thinking: Simple and intuitive conclusions (such as "The project team has good news and should buy") Second level thinking: complex and counterintuitive deductions (such as "Although there are positive factors, have market expectations been fully reflected? Are there any overlooked risks?") The essence of second level thinking is systematic thinking about "what the market is pricing" and "whether the pricing is correct", which is an advanced reverse thinking; It should be noted that it cannot be simplified as "for the sake of the opposite", and a "non consensus cognitive gap" must be constructed through second level thinking. We must recognize that the market cannot return to the golden age of ICOs, where every hot bubble is punctured, and the value accumulation may not be enough to withstand the bull and bear market. Try to learn how to use "anti consensus thinking" to avoid overheated tracks and find valuable pitfalls. Once you find them, make sure to rush forward. This is the opportunity for you to make heavy bets and make a comeback. The true value often arises from the overlooked edges of the mainstream, and the ultimate law of encryption is not "getting rich overnight", but through participating in cutting-edge changes and gaining the dividends of cognitive iteration. This is also the first step in creating value for everyone on the path of wealth and freedom! Encouragement with you!