From Virtual NPC to Intelligent Agent: How does the AI-driven game world subvert reality?
I. From Tic - Tac - Toe to El Dorado: The Evolutionary Path of AI in Games1952: "OXO Tic - Tac - Toe" Opens the Door to AI - based Games The earliest intersection of AI and video games can be traced back to 1952. "OXO Tic - Tac - Toe" developed by A.S. Douglas was the first game driven by AI rules. Although this AI could only respond to preset rules, it laid the foundation for the future development of AI in games. Its static nature revealed that early AI could only passively respond, lacking...
Hyperliquid Ecosystem Mining Guide
This guide delves into the evolving mining strategies within the HyperEVM ecosystem, including their development trajectory, who is most likely to earn rewards, and how to position yourself during this early phase. The following content has been reorganized for clarity: Unless you've been completely disconnected from the crypto sphere, you've likely noticed: Hyperliquid is everywhere. It's one of the few projects that executed its TGE strategy flawlessly, not only generating substantial wealt...
Market Plummets, But the 'Ice' of Regulation Is Melting
In the current market environment fraught with anxiety, recent actions by U.S. financial regulators suggest a softening of the formerly hardline stance on cryptocurrencies, with the 'ice' of hostile regulation from the previous administration beginning to melt. Unlike the gradually warming temperatures, the cryptocurrency market has been on a downward spiral since Bitcoin fell below $90,000 on February 25th. Around 10:50 AM today, Bitcoin even broke through the $80,000 mark, reaching a new lo...
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A Century Leap: How 401(k)s Are About to Redefine Crypto Investing
From Virtual NPC to Intelligent Agent: How does the AI-driven game world subvert reality?
I. From Tic - Tac - Toe to El Dorado: The Evolutionary Path of AI in Games1952: "OXO Tic - Tac - Toe" Opens the Door to AI - based Games The earliest intersection of AI and video games can be traced back to 1952. "OXO Tic - Tac - Toe" developed by A.S. Douglas was the first game driven by AI rules. Although this AI could only respond to preset rules, it laid the foundation for the future development of AI in games. Its static nature revealed that early AI could only passively respond, lacking...
Hyperliquid Ecosystem Mining Guide
This guide delves into the evolving mining strategies within the HyperEVM ecosystem, including their development trajectory, who is most likely to earn rewards, and how to position yourself during this early phase. The following content has been reorganized for clarity: Unless you've been completely disconnected from the crypto sphere, you've likely noticed: Hyperliquid is everywhere. It's one of the few projects that executed its TGE strategy flawlessly, not only generating substantial wealt...
Market Plummets, But the 'Ice' of Regulation Is Melting
In the current market environment fraught with anxiety, recent actions by U.S. financial regulators suggest a softening of the formerly hardline stance on cryptocurrencies, with the 'ice' of hostile regulation from the previous administration beginning to melt. Unlike the gradually warming temperatures, the cryptocurrency market has been on a downward spiral since Bitcoin fell below $90,000 on February 25th. Around 10:50 AM today, Bitcoin even broke through the $80,000 mark, reaching a new lo...
Executive Order August 7: The Day Crypto Went Mainstream
On August 7, 2025, President Donald Trump signed an executive order that will allow 401(k) retirement plans to allocate to a broader menu of assets—private equity, real estate, and, for the first time, crypto.
National-level endorsement: Washington is effectively stamping crypto as a legitimate long-term holding.
Yield diversification for savers, volatility import for markets.
Historic precedent: the last time 401(k)s expanded their universe this dramatically was when they were allowed to buy stocks during the Great Depression recovery.
1/6 · Pre-Depression Pensions: Safety First, Returns Last
From the early 1900s through the Roaring ’20s, America relied on defined-benefit plans: employers promised a fixed monthly pension.
Investment mindset: capital preservation over growth.
Legal List statutes restricted holdings to Treasuries, high-grade corporates, and munis.
Upshot: portfolios survived recessions, but missed the equity boom.
2/6 · The Great Depression: When “Safe” Became Risky
October 1929: Dow falls ~90 %.
Collateral damage: companies folded, pension promises evaporated.
Public backlash forced federal action.
1935 Social Security Act created a national floor, but private pensions remained locally run and still barred from “speculative” stocks.
3/6 · Post-War Yield Squeeze & The First Stock Allocation
Bond famine: post-war muni yields plunged to ~1.2 %.
“Prudent Man Rule” reinterpreted: fiduciaries could diversify if the overall portfolio was prudent.
1950: New York State legalizes up to 35 % equity exposure.
Pushback: unions and actuaries called it “gambling with workers’ savings.”
Reality check: the ensuing bull market silenced critics and lowered taxpayer burdens.
4/6 · Institutionalization & ERISA (1974)
By 1960, >40 % of public-pension assets were already outside government paper.
ERISA codified the “prudent investor” standard nationwide, normalizing equities.
2008 reminder: heavy equity weights hurt retirees during the GFC, reopening the risk debate.
5/6 · Crypto Allocation: Echoes of 1950
Allowing 401(k)s into crypto is the next leap—higher octane, earlier stage. Signals flashing:
Regulatory turbo-charge: guidance, custody rules, and investor education will all accelerate.
Market maturation imperative: just as stocks needed a secular bull, crypto needs a sustained uptrend to justify allocation.
De-facto national HODL: 401(k) money is locked for decades—a new strategic-reserve sink for digital assets.
6/6 · 401(k) 101 for the Curious
Origin: Section 401(k) of the Internal Revenue Code, added 1978.
Structure: defined-contribution plan—employee + employer chip in, individual bears market risk.
Contributions: pre-tax (or Roth after-tax) salary deferrals; employers may match up to a set %.
Investment menu: participant picks from employer-curated list—index funds, bond funds, target-date funds.
2025 expansion: menu can now include PE, real estate, and crypto.
Ownership: gains belong 100 % to the employee.
No safety net: losses are not guaranteed by employer or government.
Bottom line: the 401(k) is morphing from bond bunker to multi-asset rocket ship, and crypto just got a first-class seat.
Executive Order August 7: The Day Crypto Went Mainstream
On August 7, 2025, President Donald Trump signed an executive order that will allow 401(k) retirement plans to allocate to a broader menu of assets—private equity, real estate, and, for the first time, crypto.
National-level endorsement: Washington is effectively stamping crypto as a legitimate long-term holding.
Yield diversification for savers, volatility import for markets.
Historic precedent: the last time 401(k)s expanded their universe this dramatically was when they were allowed to buy stocks during the Great Depression recovery.
1/6 · Pre-Depression Pensions: Safety First, Returns Last
From the early 1900s through the Roaring ’20s, America relied on defined-benefit plans: employers promised a fixed monthly pension.
Investment mindset: capital preservation over growth.
Legal List statutes restricted holdings to Treasuries, high-grade corporates, and munis.
Upshot: portfolios survived recessions, but missed the equity boom.
2/6 · The Great Depression: When “Safe” Became Risky
October 1929: Dow falls ~90 %.
Collateral damage: companies folded, pension promises evaporated.
Public backlash forced federal action.
1935 Social Security Act created a national floor, but private pensions remained locally run and still barred from “speculative” stocks.
3/6 · Post-War Yield Squeeze & The First Stock Allocation
Bond famine: post-war muni yields plunged to ~1.2 %.
“Prudent Man Rule” reinterpreted: fiduciaries could diversify if the overall portfolio was prudent.
1950: New York State legalizes up to 35 % equity exposure.
Pushback: unions and actuaries called it “gambling with workers’ savings.”
Reality check: the ensuing bull market silenced critics and lowered taxpayer burdens.
4/6 · Institutionalization & ERISA (1974)
By 1960, >40 % of public-pension assets were already outside government paper.
ERISA codified the “prudent investor” standard nationwide, normalizing equities.
2008 reminder: heavy equity weights hurt retirees during the GFC, reopening the risk debate.
5/6 · Crypto Allocation: Echoes of 1950
Allowing 401(k)s into crypto is the next leap—higher octane, earlier stage. Signals flashing:
Regulatory turbo-charge: guidance, custody rules, and investor education will all accelerate.
Market maturation imperative: just as stocks needed a secular bull, crypto needs a sustained uptrend to justify allocation.
De-facto national HODL: 401(k) money is locked for decades—a new strategic-reserve sink for digital assets.
6/6 · 401(k) 101 for the Curious
Origin: Section 401(k) of the Internal Revenue Code, added 1978.
Structure: defined-contribution plan—employee + employer chip in, individual bears market risk.
Contributions: pre-tax (or Roth after-tax) salary deferrals; employers may match up to a set %.
Investment menu: participant picks from employer-curated list—index funds, bond funds, target-date funds.
2025 expansion: menu can now include PE, real estate, and crypto.
Ownership: gains belong 100 % to the employee.
No safety net: losses are not guaranteed by employer or government.
Bottom line: the 401(k) is morphing from bond bunker to multi-asset rocket ship, and crypto just got a first-class seat.
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