The Bitcoin Asia Conference has concluded, a busy three days. In addition to the two panels at the main venue, there were also events for New Fire, Nostr, and our own coin-stock forum where we shared insights and participated in interviews with several media outlets. Here are a few simple thoughts, just like writing a little essay:

1. Exhibitors feel that there are fewer this year compared to last year, with fewer Bitcoin ecosystem projects and more traditional projects. The number of attendees is slightly less. However, the guests are impressive enough, and the venue setup is beautiful enough. The position of the Bitcoin conference as the industry's top event is unshakable.

2. Compared to other conferences like 2049, the enthusiasm of the audience for the speeches is noticeably higher, with basically every session and venue filled to capacity, indicating that the proportion of non-industry attendees among the audience is not low. It is completely different from the awkward situation in other conferences where the audience consists entirely of peers.

3. There are fewer chaotic projects in the Bitcoin ecosystem, or we could say that many are nearly dead, while those that survive are quite excellent, such as unisat, uxuy, river, goat network, etc., which can afford to buy a booth. In this year, the criteria for a good project have become having revenue and profit, rather than just a narrative.

4. There are more discussions about stocks than about altcoins. Many people claim to have shell companies, and next year, industry practitioners will have an average of listed company executives, which is indeed different from the average underground workers or the average wandering Jews from previous years.

5. People outside the circle want to finance through RWA to enter the circle, while those inside the circle want to finance outside the circle by issuing stocks. Everyone has a bright future.

6. The industry has changed, traditional big players have entered, the old retail investors have also become more savvy, and there are now more choices, as one can trade both coins and stocks. If entrepreneurs have not found their position in the industry, it might be better to work for a big company. The days of starting a makeshift team to launch coins and exploit retail investors are basically over.

7. Saving BTC slowly is always the truth; doing anything else is actually just to find some emotional value for oneself.