The crypto world has an overlooked advantage for retail investors: it’s the closest to the essence of speculation. Some people always think that if those folks from A-shares or U.S. stocks come to the crypto world, they’d dominate. But playing in the crypto world isn’t that simple—quite the opposite. With the speed of these crypto cycles, even Buffett would be scratching his head. Big cycles last a few years, small cycles just a few months, and there are countless scams and tricks. Retail investors who can survive and adapt through these iterations are already masters of speculation—they wouldn’t do badly in U.S. stocks either.