Thinking about the first three rules of Bitcoin Uncensored:
1. You are an idiot
2. I am an idiot
3. Markets are efficient
Pure wisdom. And the three hang together well -- better together than any one or two rules in isolation.
Discussion
Rules one and two are Socratic. We do best when we know our limits.
Rule three reminds us: despite rules one and two, prices encode real information (this does not mean markets are perfect).
The rules are practical, too. For example:
Will I subscribe to your market signals newsletter? No; see rule one.
Will I start a market signals newsletter of my own? No; see rule two.
Will I invest in your pamping ponzi and stake/lock my tokens for years on end? No; see rule three.
