According to Michael Nielsen (@michael_nielsen), Lakatos's 'Proofs and Refutations' highlights the dangers of premature definitions in mathematical reasoning, emphasizing that robust definitions should result from iterative refinement through argument and counterexample (source: Twitter). For crypto traders, this analytical approach underlines the importance of flexible strategy development and adapting trading algorithms based on real-market performance, rather than rigidly adhering to initial trading models. Applying this iterative mindset can help traders avoid conceptual pitfalls and improve risk management in fast-evolving cryptocurrency markets.