On the Correct Flying Posture of Old Birds

Recently, the "blockchain industry" (an elegant name for the cryptocurrency world) has been shrouded in all kinds of confusion. As an old bird who has been "flying" in the industry for many years, I dare not say that I am a senior, but I still have some experience on how to maintain the "correct posture" for safe flying in this industry. I would like to share it with you here, and hope that you can get some useful help.

Posture 1: Firm

Firmly believe that blockchain can change the world

It is not easy to do this. Most newcomers don’t even know what blockchain is. It is really difficult for them to believe that it is something that can change the world. However, since you want to invest in blockchain assets, if you don’t believe in the value of the blockchain industry, then you are just playing around. If you are lucky, you can make a little money and leave. If you are unlucky, your investment will go down the drain and you won’t even be able to find the reason.

Why do we have to believe that blockchain can change the world?

I just want to ask you one question. If you don’t believe that the Internet can change the world, would you invest in Tencent’s stock and hold it for ten years? Whether you can make money from blockchain investment depends on whether you can understand that blockchain will change the world.

Firmly believe that Bitcoin can become the world currency

This question is similar to the previous one. Bitcoin is currently the blockchain asset with the highest market value, but it is still one of the most worthy blockchain assets to invest in. Bitcoin is a global super-sovereign currency with a current market value of only 9 billion US dollars. If you don’t believe that it will connect the world’s economy with a market value of trillions in the future, then give up now. The current price of 3,800+ will be a huge burden for those who don’t believe in its future.

If you have the opportunity to buy at a very low price and now have more than 100 bitcoins, you must be convinced that the price of bitcoin will reach five figures. Although you have made several times the money, you have never considered selling it. This is the power of trust. People who make a few hundred dollars and run away don’t really need to gamble in the unfamiliar field of "bitcoin". There are all kinds of crude oil, silver, stamps and coins, and even more vicious ones, such as pyramid schemes and P2P. What else can you play? At least it seems much easier to understand than bitcoin.

Posture 2: Hold

Stay sensitive

There are many opportunities in the blockchain investment industry, but opportunities are often reserved for those who are prepared. Since you want to enter this industry, it is very important to be sensitive to various changes and opportunities in the industry. When the opportunity comes, you always linger around it. This is the saddest thing.

keep Calm

When an opportunity comes, will you make an impulsive move or make an investment based on the characteristics of the opportunity? This is a test of human nature. Staying calm may make you earn less, but in many cases it will leave you with more opportunities.

Posture 3: Doubt

Be suspicious of most crowdfunding campaigns

The market is full of opportunities, but crowdfunding is always disturbing. Participating in crowdfunding projects of blockchain assets seems high-end, but in fact there are many pitfalls. The logic of crowdfunding is: if you give me money, I will work, if you don’t give me money, I won’t do it. Therefore, you sacrifice the liquidity of your own funds and bet on a project that is uncertain whether it will succeed, and at the same time bet on the skills and character of the main members of the team.

Will the crowdfunding project be completed on time? Will it achieve the expected functions? Will there be a platform to launch it? These are all questions.

Not all crowdfunding can make money. As the desire to make money becomes stronger and stronger, more and more people will be trapped because of crowdfunding in the future.

There are too many opportunities in the market. Even Ethereum has been close to breaking the issue price after it was launched. Why would you lock up several months of time for an opportunity that is uncertain whether it will make huge profits? If you understand this project and think it is worth it, you can try your luck by participating in the crowdfunding. If you feel that there is anything that makes you doubt, take a detour. Believe me, you have nothing to lose!

Special reminder : Before participating in crowdfunding, please study the project and ask yourself the following questions again and again:

1. What real problem does this project solve?

2. Does this project have to be solved using blockchain?

3. Can this project also be done directly with fiat currency?

4. Does this blockchain technology solution greatly improve efficiency and economy?

If any of these questions are uncertain, there is a high probability that the crowdfunded project is problematic.

Be suspicious of most of the coins recommended to you by others

A very strange thing is that the "virtual currencies" that laymen are initially sold are basically scam coins and pyramid scheme coins. The reason is very simple. Only with these types of currencies will people be motivated to recommend you to join because it is a vested interest for them. Therefore, you need to research and analyze the investment products yourself. At the very least, the information of the products you invest in should be available on the platform https://coinmarketcap.com. Otherwise, it is basically unreliable. In addition, even if the information can be found on this website, some may not have investment value.

Doubt the judgment of most analysts

Investment involves the issue of price fluctuations. If you have some basic trading analysis skills, then do it your own way. Make your own decisions with your own investment money. Don't easily trust others to go long or short. If the analyst has everything under control, he can just quietly make money on his own. Why would he take you to get rich together? If you make money, you may have to give the analyst a benefit, but if you lose money, he won't care about you, so you are the one who pays the bill in the end.

Posture 4: Learning

Learn the value logic of Bitcoin

1. Why will Bitcoin become a super-sovereign currency?

2. Why can Bitcoin achieve value storage and transfer?

3. Why are Bitcoin transfers trustworthy?

4. Why is Bitcoin more efficient than fiat currency?

5. Why can't governments really control Bitcoin?

6. Why doesn’t Bitcoin need an institution to be accountable to it?

Only by clarifying these issues can you understand Bitcoin and truly trust Bitcoin from the bottom of your heart.

Learn the basics of blockchain

1. What exactly is blockchain?

2. Why are some blockchain assets valuable?

3. What kind of blockchain assets are worthless?

4. What are the main blockchain assets?

Studying with these questions in mind may be the fastest way to understand this industry.

Understand the core logic behind various blockchain assets

1. Why are some assets valuable and others worthless?

2. What is the operating logic behind a certain blockchain asset?

3. What can this asset do in the future? Does it really have potential?

4. Where does it rank now? Has it been rising or falling recently?

5. Who issued it? How many are there? Is there any pre-mining or shady dealings?

Only by clarifying all these things can you have some understanding of investing in blockchain assets and try to avoid falling into traps.

Learn the reliable way to store coins

Remember this formula and then slowly understand it.

Cold wallet > ONCHAIN ​​wallet > reliable exchange > you know.

If the first two cannot be done due to lack of ability, placing the assets on multiple reliable trading platforms may be one of the ways to prevent the complete loss of assets.

Position 5: Selection

Choose a reliable trading platform

1. Which domestic platforms are reliable?

2. Which domestic platforms have reliable trading products?

3. Which foreign platforms are safe and reliable?

4. Which platforms at home and abroad have experienced scandals of coin theft or splitting?

Choose reliable blockchain assets

What is a reliable blockchain asset? Everyone has their own opinion.

Bitcoin, what else?

Because of the previous sentence, it is probably not wrong to regard Bitcoin as a basic configuration.

What about other varieties?

You can only rely on your own research, but remember to stay away from MLM coins and scam coins.

Choosing the right time to buy and sell

Any blockchain asset has a suitable time to buy and sell. Reliable assets may also cause you to lose money. In addition to the intrinsic factors of the asset itself, there is also the issue of the timing of buying. The general logic is to buy low and sell high. The problem is that most people lose money because they do the opposite. Buying high and selling low is usually a timing error, which leads to repeated mistakes.