Today I chanced upon the thoughts from Vitalik Buterin (Source: https://i.redd.it/lrxed1ibbr251.png) and it prompted me to write this article. By writing this article, perhaps it may help people to make better decisions in their lives.
Decision making done through analysis of results, rather than emotions, tends to have better outcome. If you want to get from point A to point B, and you had several decisions to make, and after a few days of travelling, you measured the distance and realize now you’re actually further away from point B instead of being closer, then it is likely that you had made some bad decisions along the way. It is insanity to keep making bad decisions and expecting to get closer to the destination. Unfortunately, humans are sometimes defensive about their decisions and some of them will justify and find reasons why those bad decisions are good decisions, regardless of the actual outcome, and if they are convincing, you may even want to walk the same steps that brings you further away from the destination.
I studied quantum mechanics for a couple of years and here is one thing which I learnt that is extremely useful here. And that is if the empirical evidence does not match your theory (and therefore your actions), then it does not matter how convincing your theory is, you need to change the theory (and associated actions). Even Albert Einstein made this mistake (relating to quantum entanglement) because he was unable to accept empirical evidence over his theory. If he can make such a mistake, then so could we.
So how can we make better decisions? It requires plenty of self-reflection and analysis. And of course if you find yourself further and further away from the destination, then please stop walking and start analyzing. However, this is easier said than done. I know because I made the same mistakes myself so I know, it is way easier said than done.
There was this study of CEO and psychopaths. And I’m using this example because it challenges our assumptions and norms of how people should behave. Roughly 4% to as high as 12% of CEOs exhibit psychopathic traits, much higher than the 1% rate found in the general population. We can argue all we want about why anyone acting that way should not get to the top, but empirical evidence shows that their decision making process is exactly why they were there. And as a scientist would say, if your theory does not match the empirical evidence, then it is time to change your theory.
Please don’t get me wrong, I am not suggesting you to be a psychopath. My point is that it is important to understand the decision making processes that allow them to get to the top, because learning about these decision making processes can be helpful towards our own decision making processes. We can apply the same methodologies and strategies without being a psychopath ourselves.
In the end, our life is a series of decisions and making good decisions will lead to better outcomes for us. So what does this have to do with Bitcoin Cash? Well, there were decisions that had persisted and justified for the last 4 years, and empirical evidence have shown that we’re no closer to the destination. It is insanity to keep doing it and expecting a different outcome.