There is no luck in surviving in the cryptocurrency world

Many people disdainfully say that those who have experienced several cycles in the cryptocurrency circle and made a lot of money are gamblers and are lucky. Let me tell you the truth, don't be jealous, those who can get a lot of wealth in the cryptocurrency circle and keep it are not lucky, don't be unconvinced.

I won’t talk about how many pitfalls there were in ancient times, which were 100% much more thrilling than today. Now, those who have made a lot of money and held on to it, when they treat their large positions, they must have perfectly avoided all of the following things:

1. Open a contract

2. Bought a lot of non-Bitcoins

3. Put all your coins in the exchange

4. High-frequency trading, trying to buy low and sell high

Don’t underestimate these four things. If you don’t pay close attention to the cryptocurrency circle, you won’t understand. Those who can make big money in the cryptocurrency circle must have paid close attention to it and have traded continuously in it. These people can stick to the above four principles after making big money, which means they must have suffered big losses in the above things. After completing their cognitive training, they can still accumulate big funds in the cryptocurrency circle without gambling in the above ways. Do you think it’s a fluke?

Most people only "have made money" in the cryptocurrency world, because they only have the above ways to make money, and they will naturally lose money because of the above ways. After a person understands that the above ways cannot really make him rich, he can't find other ways to make money in the cryptocurrency world. This is the problem.

Let me tell you, those who really make money in the cryptocurrency world and keep it for a long time, in addition to not stepping into the above pitfalls, must also meet at least one of the following conditions:

1. Have a flagship product in the cryptocurrency industry

No matter how knowledgeable you are, you will step into the above traps and lose the coins you should lose. But the point is, you have a product that can continuously make money in the cryptocurrency circle. The function of this product is that no matter how many traps you step into in the cryptocurrency circle, since it collects coins, you will always make up for the lost coins. As you gradually become smarter, you will no longer step into those traps, so your coins will increase. Representative figures such as cz and Sun Ge have all stepped into these traps of novices, but the point is that they have products to help them continuously earn back their coins, but you don’t, this is the key.

2. Ability to make continuous investments

If you don't have the ability to make products, then the easiest one for you to match is this one. Stop saying "Bitcoin won't rise any more times", this is not a reason for you to take a large position to gamble - when has Bitcoin ever run faster? Bitcoin was low in the past, but that was compared to now. Compared with the cottage industry back then, Bitcoin back then also rose more slowly. As a result, where are those cottage industries now? Give yourself 10 years, and continue to slowly put in the money you earn in the next 10 years, so that the money you earn in these 10 years can be multiplied by 5 and 10. This is the best way for ordinary people to enter the cryptocurrency circle.

The premise here is to have a good lock-up mechanism, which allows only entry but not exit; a good fixed investment environment does not mean that you can invest if you have money today, and not invest if you don’t have money, or you can invest heavily if you think it is too low, and not invest if you think it is too high ; you also need to have an excellent off-site deposit ability - the stronger your ability to make money, the more the above rules will add to you.

All of the above prerequisites are indispensable. A person who has the ability to turn the tide outside the field and can be honest, humble and do as he is told inside the field is a very remarkable person, and the money is what you deserve.

3. The coin is locked

I participated in an old fund, and the coins were locked for 5 years. During this period, the cryptocurrency circle experienced too many ups and downs, but the money was locked and could not be moved. Have you ever needed the money in real life? Of course, I bought a house during this period. When the investment funds were not returned and I had to invest in other projects, I also briefly turned to the bank for turnover. Later, the coins I had in my hands became less and less in the ups and downs of investing and starting a business, but when the fund distributed the money, I found that several shares added up to hundreds of bitcoins - although the fund still did not outperform the money used to hoard coins directly at that time, but the problem is that it really cannot be hoarded. The percentage of loss of coins by this fund is far less than the part I hold myself.

Such things are common in the cryptocurrency circle. A loser bought some coins and went to jail for beating someone. After he came out, he was worth over 100 million yuan. This is not a story, but reality. If he had not gone to jail, he would have spent all the coins long ago.

Since then, I have actively locked up the largest share of Bitcoin, and have kept it locked up until now. If you believe in Bitcoin, now you can exchange everything you have for Bitcoin, actively lock it up for 10 years, and then start from scratch. After 10 years, the result is likely to exceed what you did in these 10 years if you did all other seemingly more useful things.

I'll say it again, I've never seen any big shot become a big shot by speculating in cryptocurrencies, not even one - speculating in cryptocurrencies won't make you a big shot, leverage won't make you a big shot, there's no such thing as luck in the crypto world. You must first have a good understanding of it before it can become your best tool for getting rich, otherwise you will become its slave in turn.

There was a comment under last month's article, saying that when Ethereum was at 3600, he bet on the upgrade in March and April, so he sold his house and went all in to open a 2x leverage long order. I asked him why he opened a leverage order when I told him not to do so? He said he was optimistic about the market outlook, and he thought that 2x would not explode. Could Ethereum fall by half again?

Yes. I am also optimistic about the market outlook, but I am in awe of the market. I will never open leverage here. This is not because I am cautious, but because I understand it and he does not.