You only know that Li Xiaolai was the 'former Bitcoin billionaire', but you may not know: in 2011, he bought 2100 BTC at an average price of $6, and then the price fell below $1, leading to a 97% reduction in his assets.
You only know that Zhao Changpeng made it to the 'Forbes Rich List', but you may not know: in 2014, he sold his house in Shanghai and went all-in on BTC, and then regretted and felt helpless when the price plummeted.
You only know that Zhao Dong is a big shot in over-the-counter trading, but you may not know: in 2013, he bought 2000 BTC with 1 million, and after amassing over 100 million in assets, he collapsed in 2014 due to three futures liquidations, with total losses of 1.5 billion and debts of 60 million. Only by enduring can there be a spring.
Now, you only focus on immediate benefits, but cannot see the future value. The truth of this industry is:
1. When it falls, it can go down indefinitely.
2. There is no upper limit to the rise.
3. If you can’t handle the panic of turning 1 million into 100,000, you don’t deserve the fortune of turning 1 million into 1 billion.
