Technology is indeed important, but in this circle, technology is more of a threshold rather than a moat. You can write contracts, others can too; you can analyze on-chain data, and now AI can help you do that. What really makes the difference is cognition and execution.

I think it should be: 10% technology, 40% cognition, 30% execution, 20% luck.

Cognition determines what opportunities you can see, and execution determines how many you can seize. Many people have the right cognition, but just can't take action, or their position management is a complete mess. There are also people who are technically skilled, researching various DeFi protocols every day, but end up missing the entire bull market during the meme season.

As for the luck part, I agree to leave it to fate. But the premise is that you first have to do your homework and set up the right strategies. Luck only favors those who are prepared, and this saying is especially applicable in the crypto circle. $BTC