Earning 10 million does not require any extraordinary abilities, just a clear understanding of the principles of making money.
First, you need a catalyst, which is the cash flow from your off-market income. For example, 50,000 to 100,000 a year. This ensures that you do not miss opportunities by having to sell assets.
Second, when facing good opportunities, such as a bull market in cryptocurrency or a bear market, do not invest excessively. This excess does not mean you can't go in heavily; rather, it means you must not let this joy cloud your judgment and cause you to make unnecessary moves, and absolutely do not add various leverage or debt.
Once you have achieved these two points, the third point is that you need a bubble opportunity. A bubble opportunity refers to when everyone’s assets surge, and when playing the same target, everyone is wealthy. Note that at this time, you must sell, turning the bubble into art; the market can allow everyone to have floating profits, but it is impossible for everyone to make money. When everyone has floating profits, it is the bubble opportunity, so sell decisively.
Moreover, you need to experience 1-3 bubble opportunities, master the methodology of deflating bubbles, and hold onto the money without any use until there are no more bubbles to buy in.
If you purely hold on, you probably won't keep it; you must actively use methodologies. It’s not just holding on; if you have a lot of money, you can hold on, but if you have less, you need to give up a bit of security to take risks during bear markets.
When everyone advises you not to buy, and everyone says it cannot be bought, there is a huge cognitive gap inside.
They are the source of your proximity to the bubble. If they all say it's good, then you will definitely be swept away, and there will be no opportunity.
Asset types that are bubble-explosive must not be counterfeit coins or scam coins; if you perceive a possibility of collapse, do not choose them.
You must pass through two cycles and still be able to rise; the only certainty is BTC.
Another point is the mindset aspect.
I have a question that I've always been particularly conflicted about: if I don't get married or have children in this lifetime and save money to become rich, then when I'm old, I will have developed a frugal consumption habit and have no heirs to inherit my wealth. Isn't that quite sad? But if I don't do this, I will also end up poor and sad when I'm old.
Rest assured, even if you save money frugally, you will not become rich. If the process of making money does not excite you to the point of sleeplessness, and there is no intrinsic motivation beyond making money itself, you will not be rich, nor will there be anything for others to inherit.
You must spend when necessary and live a normal life. I once walked the path of frugality; this path is the behavior of a madman. I now understand that it is actually wrong. Most people cannot handle it and will ultimately face mental breakdown.
After earning 10 million, how to keep the 10 million.
1. Some targets are opportunities of the era; the next one will have to wait; after BTC, there will be such assets, but you have to wait.
Targets will change, but human hearts will not.
2. Can you maintain the same consumption level after having a net asset of 10 million; it’s not about saving, it’s about maintaining the same level as before, which is key.
3. You cannot avoid inflation and reckless spending; once you have money, starting to spend wildly is a sign of decline.
4. Get rid of the cognitive pressure caused by social relationships at all levels, such as when others ask you to lend money, seek investments, or emotionally blackmail you.
Some people will be taken away by women, and some by friends. Once you have money, there will definitely be people trying to figure out how to get money from you.
You are the client of everyone around you; you need to be vigilant. Most people cannot get past this hurdle.
Those who break through will lose a lot and gain loneliness.
I’m done writing. Keep going! I am a cryptocurrency massage therapist, an old player mainly focused on arbitrage and holding currency.