Come! Let's cultivate immortality together!

Author: He Yi

I generally don't like to be a father to others, unless they come to be my father.

Looking back, Bitcoin was born against the backdrop of the 2008 financial crisis. At that time, no one would have thought that a white paper and open-source code would become the best asset of the past 17 years, bar none. Times are changing, the concept of money is changing, the concept of assets is changing, and policies are changing. On a path that no one has walked before, we practitioners have gone from being accused of "pyramid schemes" by others to calling ourselves "noble Wall Street traders." On this road, our community has grown larger and larger, facing one fork after another. Every choice is a process of selection; some will draw closer, while others will drift away.

As an entrepreneur who advocates "value investing" and "long-termism," I believe that only by solving users' problems and having a business that people are willing to pay for can it be called entrepreneurship and construction. The underlying logic of holding Bitcoin and BNB for many years is that I am optimistic about the entire industry, and in this industry, BTC is the most prominent decentralized asset, while Binance is the project with the most users and the strongest team. If this team is not the world's top team, then I will make the team the top team in the industry.

Binance has never been a high-end, perfect team. We have stumbled along the way, flying the plane while fixing it. We have paid a huge price, so now we prioritize compliance. Binance has invested enormous resources in compliance, and even third-party audits have rated us as the industry's compliance ceiling. Compliance resources are more than five times that of products, heavier than traditional finance. Many of Binance's businesses are not the first to do so because when you are the first, following is a better strategy. In a sailing race, if you are in the lead position, you just turn when the others turn, and that's that. I am not the first to create a trading platform, we are not the first to do contracts, we are not the first to do C2C, we are not the first to integrate on-chain wallets into products, but we are the first to require KYC even for on-chain wallets 😂. Our products all started from "not even a dog would use them." We grew up at the village entrance in Africa, walked with users through the Darién Gap in Latin America, enjoyed the cozy coffee in Australian small shops, and experienced typical East Asian competition. We do not have the grand feast of F1; we are with nearly 300 million users, moving forward in small steps based on community and user feedback. In other industries, when the times abandon you, they won't even give you a heads-up. Fortunately, in this industry, if you don't keep up, the community will teach us how to behave, and we will "know shame and then be brave."

I once believed that leveraging contracts would amplify human weaknesses and vowed not to engage in contracts until the bear market in 2019, when all coins were plummeting, and all users were in despair. I quickly learned financial knowledge, understanding what hedging and risk management are, and later forced two contract teams to compete against each other. However, we also did not forget to let contract users test before trading and set a cooling-off period for users who continuously gamble. My moments of being proven wrong were also forged by myself.

I once thought MEME was a conspiracy disguised as subculture, believing that only serious projects that take responsibility for their holders are on the right path. Until I saw those bright-eyed, well-connected people publicly talking about dreams and sentiments, only to realize that they were treating Binance as the last stop for liquidity exit, pouring it directly. Facing professional players, retail investors are defenseless; they either get burned in spot trading or face contract explosions. I understand their anger, but I feel powerless regarding the structural changes in the industry. I once choked up during a six-hour AMA because I didn't know how to ensure that both retail and professional players could benefit. If we hope our users are the first stop, this is the starting point of Alpha. Until I reconciled with myself, I realized that most users do not expect to earn forever; what users always want is fairness, fairness, and more fairness. Users are not trading "Binance life," nor "Customer Service Xiao He," but rather the little bits of fairness, opportunity, and consensus that accumulate beneath these CAs. At this point, I would also like to remind everyone: MEME has no one responsible for the project, lacks long-term value support, and is not without conspiracy groups. Please be aware of investment risks; the self-proclaimed statements and tweets from Binance and me do not equate to endorsement from Binance or me. For MEME players, Binance, me, dogs, pigs, frogs, and memes are in the same quadrant, with no distinction. Opposing MEME, understanding MEME, and ultimately becoming MEME, the clown is myself.

Compared to the entire financial market, the crypto circle is still a drop in the bucket. The market is large enough to accommodate many giants, so we do not attack competitors. We learn from other entrepreneurs and projects; if we can't understand, we can still invest and buy because the ultimate goal of plain and simple business competition is to meet user needs, not to pull hair or spit. YZi Labs plans to invest 1 billion USD to support the ecosystem and developers, aiming to incubate a batch of top projects. This is true commercial competition. Over the years, we have been thrown countless challenges, and we have used them to grow beautiful flowers. If our wallet is not good, we will improve it until it is. We have gone from not understanding the significance of MEME to seeing a CA associated with Binance and starting to spread rumors, guarding against it, and distancing ourselves from MEME, returning to what we should do, not without having broken our principles a few times.

As a new era entrepreneur and cultivator, I thank everyone for taking the time to read this lengthy piece with little information. After much thought, I can only force some value onto it, which aligns with our consistent altruistic thinking.

Entrepreneurship, trading, making money, and cultivation are essentially the same thing, emphasizing the Dao, Fa, Shu, and Qi; if you earn money in a muddled way before understanding it clearly, you will also lose it in a muddled way because one can only earn money within their understanding.

Dao is the operating rule of this world; only those who comply with the operational laws can walk far and long. Just like our industry thrives because it aligns with the laws of world development, not because of any one person's brilliance.

Fa is the principle, the cultural values of each company and organization, the user-centric approach of Binance, freedom, collaboration, hardcore, and humility.

Shu: People are easily enamored with tricks, power plays, and marketing, which is actually a minor path.

Qi: Products and tools; in mobile internet products, the most easily replaceable are tool-type products.

Everyone, every company, and organization has its strengths. As long as one excels in a certain area, they can achieve significant results. Everyone can find their own place. Ultimately, Binance still lacks talent, so this remains a recruitment post. Come join us in our cultivation journey.

PS: All the information above is not investment advice. I apologize that English players can only see AI-translated content; I will make time to learn English.