The Cook Up 008: Bitcoin Won’t Make You a Millionaire
Feb 03, 2021 9:32 pm
Bitcoin Won’t Make You a Millionaire
Welcome to the Cook Up, a weekly newsletter full of interesting reads for curious, intelligent people who want to sharpen their minds
Greetings from Brooklyn!
I've started doing something new. I'm writing 100, 100-word blog posts for the next 100 days. I've already started. I'm a couple of days in. Out of the few I have written so far, I'd like to share two with you today: Bitcoin Won’t Make You a Millionaire and Why You Accept Conventional Wisdom.
With that out the way, let's move to this week's ideas. We're talking about the last decade of crypto, practicing failure, infinite leverage, and how to master the art of making continuous improvement.
Feel free to hit reply and share what you liked, or disliked.
Let's get cooking!
“The industry went through a period of five bubbles, followed each time by a crash (settling at a higher point than the previous low). In other words, the industry kept growing in an upward channel, but it was a very bumpy ride.
This meant that a lot of the discussion and media attention was on the price of crypto, and the day trading attracted short term thinking that bordered at times on gambling.”
“We learn valuable lessons when we experience failure and setbacks. Most of us wait for those failures to happen to us, however, instead of seeking them out. But deliberately making mistakes can give us the knowledge we need to more easily overcome obstacles in the future.”
“Leverage allows you to accomplish 100x what others can – it is a force multiplier for your effort, skill, and judgment.
Today, we live in an age of infinite leverage where our work can be replicated at no cost, and we don’t need permission to get started.”
“Continuous improvement is a dedication to making small changes and improvements every day, with the expectation that those small improvements will add up to something significant.”
“Make it time-based, apply metacognition & active recall, and learn what you’re curious about.”
“The best self-improvement resources”
“The difference between deep learning and neural networks is often confusing for beginners. What does it mean for an algorithm to be “deep”? What types of neural networks exist out there?”
You’ll learn that in this guide.
Tools and Resources
“YC's library of startup advice: essays and videos that teach you how to start a company.”
“Combine “very” with a simple adjective and get a more concise adjective”
“Shortcuts for Google Docs”
“Find incredible movies and shows to watch.”
“Compare the weather at your location with the weather at the exact opposite point on Earth.”
“Find out what's happened in your lifetime.”
Quote of the Week
Three rules for a career:
Don't sell anything you wouldn't buy yourself.
Don't work for anyone you don't respect and admire.
Work only with people you enjoy.
— Charlie Munger
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