Bitcoin investment story - the counterattack of short-term traders

     I often hang out in some Bitcoin or altcoin Q groups, watching the Bitcoin dealers, traders, mining machine vendors, and speculators arguing, just watching without saying a word. Their chats rarely involve prices, and they only talk about technology and development in a casual manner, wearing the mask of Bitcoin. Behind this mask, they may be university professors, securities traders, workers, students, security guards... These various life roles constitute the complete industrial chain and ups and downs of Bitcoin, and the real trading masters are often hidden here. Dagger, a native of Jiangsu, coincidentally uses the same ghost mastiff avatar, so we will chat privately whenever we are free.

On a non-farm night in 2014, around 9 p.m., I guessed he would show up, so I curiously typed a line of words to ask him: "Dagger, do your family know that you invest in Bitcoin?" I didn't have much hope of him replying, because at this time point, it is often the peak period for global investment product trading.

A few minutes later, the avatar actually flashed.

"I didn't know it before, until recently when my family said money was tight and I suddenly took out hundreds of thousands of dollars... You know I work in northern Jiangsu and my salary is not high." His reply was a little messy.

"Hundreds of thousands of RMB?! Haha, that would scare my family. Is that all your Bitcoin assets?" I typed on the keyboard, full of doubts.

Dagger: "I was shocked. This amount of money is enough to buy a house in our place. It's a big part of our account." The avatar flashed.

Me: "How much capital did you invest? "

Dagger: "Uh... a few thousand... that was all I had left at that time."

Me: "Great guy, can I know the transaction process in detail?" No answer, I guess he was in the process of trading.

10 minutes later, the Dagger's avatar began to flash: "Haha, there is nothing to refer to in my trading. I have experienced too many failures, which few people can bear. When I graduated from high school, my family was poor, so I wanted to change my life, so I tried to speculate in many financial products. I didn't pay attention to Bitcoin in the past few years. I just messed around with my own money. I have played with gold, crude oil, and stocks. I got rich quickly, and then my positions were liquidated. It seems that this cycle will never end. "

Me: "Then how did you get it traded back? "

Dagger: "You know, it's very difficult. After I got in touch with Bitcoin, I still used the previous trading methods, both popular and unpopular ones. I also learned how to write APIs. Because I like to go in and out with full positions, I also lost a lot at the beginning. Fortunately, all trading techniques are interoperable, and I can earn money slowly. Each time the profit is not high, only a few dozen. The wave that made the most money was the round of mindless drop when the FBI sold Bitcoin. "

Me: "Why do you think people lose money when trading gold, crude oil, and other investment products? "

Dagger: "Traditional investment products are centralized products, with many dealers and many joints. My transaction information is public, but I have no idea what happens in the background. So I am destined to lose, no matter how good my skills are. Even if I win 99 times, I will definitely lose in the end."

Me: “What about Bitcoin? How is it different from your previous transactions?”

Dagger: “Bitcoin is a little different. At least it’s not bad. No one will use transaction fees to extract money. As long as I keep an eye on the block, no one can kill me. Although I don’t understand what Bitcoin decentralization is, at least now when I see a positive or negative news, I can bet firmly without worrying about other factors.”

Me: “Are you saying that the same technique has a higher winning rate?”

Dagger: “I think it’s not just the winning rate, but the confidence in Bitcoin. At first you doubt it, then gradually get to know it, and finally you can’t let it go. Thanks to those brick-moving parties, they naturally became the middlemen and maintained the depth of the market.”

Me: "Well, what indicators do you generally use now? I'm quite curious. "

Dagger: "It's the same as the common indicators used in previous operations, but sometimes it's a little slow. After all, there are only a few hundred thousand players now. You can try any indicator on the trading interface. Sorry, I have to go to Huobi.com to process a transaction."

Me: "Oh, OK, can you please tell me your net worth? "

Dagger: "A few hundred coins, let's talk later."

The white ghost mastiff avatar on QQ dimmed again and became quiet.