As an ordinary investor, my view on this article is as follows:

The concepts of black swans and gray rhinos are indeed quite interesting. A black swan is like a meteor that suddenly falls from the sky, something no one expected to happen; a gray rhino, on the other hand, is like a large elephant right in front of us, yet it is selectively ignored by everyone.

To be honest, both situations are not uncommon in the crypto market. Take the Luna crash last year as an example. Although post-analysis indicates that there were signs, who could have predicted how devastating it would be at that time? Another example is Ethereum's transition from PoW to PoS. Everyone knew it would eventually happen, yet a bunch of miners still got caught off guard.

I think it's right for retail investors to stay alert to these so-called "black swans" and "gray rhinos," but there's no need to be overly anxious. After all, we are not big players and don’t have that much capital in it. The key is still to control our positions, avoid going all in, and maintain a good mindset. There are always risks in the market, and what we can do is try to be as prepared as possible.

That said, this article is quite interesting. Although the content is not exactly new, the examples provided are quite relevant to reality. At least it gave me a more intuitive understanding of these two concepts. I just hope the author can write more practical investment advice in the future; just discussing these concepts feels a bit lacking.

In short, in this rapidly changing market, we must remain vigilant at all times, but we should not be so scared that we don't dare to move. Opportunities and risks coexist; the key depends on how we grasp them.