Three Rags-to-Riches Stories in the Cryptocurrency World: There are always some lucky ones who can become rich overnight, here are three stories from the cryptocurrency world.
1. 'Brother 480,000'
This is an unavoidable name in the cryptocurrency world. The name 'Brother 480,000' originated because he used his savings of 480,000 from buying a house to buy 100 Bitcoins and started a live thread in the Baidu Bitcoin forum on January 28, 2014.
However, he was unfortunate; this live broadcast was ill-timed, and subsequent negative policies and plummeting currency prices caused his assets to quickly shrink to only 90,000.
The cold mockery in the forum and the lack of understanding from his family made Brother 480,000's situation even worse. 'Fighting with my mother-in-law, threats of divorce from my wife,' gradually became the theme of his live broadcasts.
In early 2016, when Bitcoin warmed up to 3,000 yuan, Brother 480,000 replied to readers, 'I sold the coins and bought a house.' This man, who once hoped to buy a house with cash from Bitcoin and get a new car, lost 180,000 and exited the market, ultimately missing out on the madness a year later.
2. 'Walking North Latitude'
Walking North Latitude claimed to have learned about Bitcoin in 2012, and then boarded when the price of Bitcoin fell from 8,000 to over 4,000. This price point was very similar to when Brother 480,000 bought in, but their trajectories diverged from that point.
Walking North Latitude gave all his salary to his wife and used all his pocket money to buy Bitcoin. He had nothing in his wallet except for money for cigarettes and fuel, and later even considered quitting smoking to buy more.
With the 'pocket money buying coins method,' Walking North Latitude hoarded and held onto over 300 Bitcoins by the end of 2015.
3. 'Turning 100,000 into 1.5 million in six months'
This is a story about someone I know. In 2016, this friend started investing in Bitcoin when the price was around 5,000 yuan. He initially traded short-term, like most newcomers, often waking up at 2 or 3 AM to check the market. Later, he realized that this approach was not worthwhile, feeling that his quality of life was deteriorating and that his emotions were being kidnapped by the irregular market.
Of course, the real world is never smooth sailing. When the major bear market hit in 2018, this friend also faced losses. However, there are always a few who can beat the market, likely understanding the rules of investment cycles. This is why we must continuously learn to enhance our understanding.
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As an ordinary retail investor, this friend has already outperformed the vast majority in the market. The secret is a good mindset. The reason for this good mindset is that he doesn't care, and not caring is because this is money that, even if lost entirely, will not affect his life.
The three stories have been shared. I hope you found them insightful. In the future, I will share more stories with everyone, listen to others' stories, and reflect on my own life.
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