Recently, many people have added me; they are all people who have lost a lot in the cryptocurrency circle. Some are even heavily in debt, their marriages broken. Hearing some of their situations makes me sigh, and I am inspired to write this article. I hope that after reading this article, you will gain some insights for your future survival in the cryptocurrency circle.
Those who lose big money are no exception; they all want to get rich quickly, turning the tide in their favor. Their strategy is usually like this: gather enough capital, buy small coins, and then expect those coins to increase by 100 times or 1000 times.
Their methodologies are very complex and numerous. I’ve seen all kinds of them; some use wave theory, some use technical indicators, some look at news, some look at position flow, and some look at trends. Their methodologies are filled with a sense of esoteric secret; if nothing unexpected happens, with enough people doing it, there will always be a few who get rich.
In one sentence, the reason they lose money: the root of their losses is a problematic worldview.
Because they have no pragmatic thoughts and do not respect the fundamental laws of development.
In their eyes, the laws of development are like this: making money should be quick; only in this way can one become rich quickly. Aren't those rich people all seizing opportunities to rise? Life must seize a few opportunities to get rich quickly. You must make a lot of money in a short period.
The laws of development of things in my eyes are like this: everything relies on slow accumulation. Accumulating to a certain amount suddenly brings about a qualitative change, then quickly making money and then falling back down, returning to a stable period, even a loss period.
If you don’t believe it, you can carefully observe that any enterprise is like this; it grows through long-term accumulation, slowly occupying the market, and then its product accumulates to a certain amount, leading to a qualitative change, or seizing a trend and then suddenly exploding.
Think about whether BYD is like this, and whether those small factories making masks are like this. Also, some large enterprises, the best companies in the world, are they not all gone through this process?
Life is like this, through continuous accumulation, hitting a certain point, suddenly exploding, and making a lot of money.
So it gives the illusion to those who do not think deeply that, look, they just suddenly made money, but they forget that those who made a lot of money did so through what kind of accumulation and sedimentation to achieve their current status.
I myself come from e-commerce; cultivating a hot product also takes 10-30 days of nurturing, then it explodes and returns to calm.
Even love between men and women relies on accumulation, then bursts at a point, and then returns to calm.
Life is not always at a peak.
And those who attempt to get rich quickly, such as trading, buying low and selling high, buying and selling repeatedly, trying to earn every market fluctuation. They will have an illusion in their minds that as long as they grasp dozens of such opportunities, they will be financially free. This may be enough in just one year, or even a few months.
But they are not good friends with the market makers; they themselves do not have the ability to be market makers, nor do they have enough judgment criteria. If they rush in like this and are not cut, that would be strange. Market makers who can make money did not become market makers immediately; they also accumulated their abilities through several cycles. Going back to one point, everything relies on accumulation; without accumulation, attempting to succeed is breaking the laws of development. That is just playing tricks.
If you want to get rich quickly and change your life, I just want to ask one question, what right do you have? Do you deserve it? So I always say the worldview comes first, and the methodology comes later.
A problematic worldview renders methodology useless.
Don't be fooled by some people who post on social media every time they make a profit, showing how much they earned. You may have never seen them post about their losses; why don’t they post? Because they feel embarrassed to admit they failed. Isn't that disrespecting reality? It gives the impression that they are always winning, never losing. But how is that possible? For the sake of respect and admiration from others, they start to convince themselves, posting it anyway since it costs nothing, and no one will know. However, after deceiving others for a long time, they end up deceiving themselves and fade into the crowd.
There is also a group of people in the market doing this, I refer to them as the 10U warriors. They open both short and long positions, and whichever makes money, they post the yield. But they never dare to show absolute returns; they only dare to show yields, earning 100U from 10U is a 1000% yield, how impressive. However, many people lack the ability to think deeply, so they also lack the ability to discern fraudsters. They even defend the fraudsters because the fraudsters, through a series of hints, have become gods in their minds. Don’t you think their worldview is problematic?
If you use 10U to do it, I believe you can also succeed. But does this kind of success matter? Can it change your life? Let me make a simple analogy. If you walk a path two feet wide on flat ground, you will do it with ease. But if it’s suspended 20 meters high, can you walk that two feet wide path as easily? You should think carefully. To walk across at 20 meters high, wouldn’t you need training, accumulation, and overcoming various obstacles to do it? Some people may never be able to do it because they have a fear of heights. If you can’t do it, then you can’t. What does it matter? I want to get from this building to that building; I’ll take the stairs, climb down my building, and then climb the stairs to the opposite side. It’s just spending a bit more time and effort. Why do you have to take such a difficult, dead-end path thinking it’s a shortcut?
The so-called shortcuts must be the right path. A bright and upright road must respect the laws of development. For example, the method of holding coins, holding mainstream coins. Especially in the current bear market, making money off-market and then holding mainstream coins. First, take the basic returns from the next bull market, like earning 10 times, then explore some activities from exchanges, participate more to earn an additional 50%. For example, if you currently have 100,000. If you buy in now, the bull market turns into 1 million, then you arbitrage, and 1 million might become 150%. Even 2 million. Isn’t this path very fast? Not at all, but it conforms to the laws of development. This is the right path and the shortcut. The so-called speculation and short-term trading are useless. This is opportunism; first, you need to have the ability to take advantage of opportunities. If not, then it’s just futile work.
Additionally, do not look down on making 10 times less; it must be 100 times, 1000 times. Everything comes at a cost; if you want to grasp the 100 times or 1000 times coins, of course, you can.
But you must meet several conditions. You need to understand some English. You should be able to read white papers, don’t tell me about translations. You must understand the designs of blockchain, such as witch attacks, Byzantine issues, layer two networks, and lightning payments. Also, the backgrounds of those founders and the investment institutions, as well as their financing amounts in each round.
You need to understand a lot of things in order to slightly improve your probability of choosing coins. So you should ask yourself, do you have the confidence and ability to understand these things? Are you willing to put in this effort to earn those 100 times or 1000 times? Study that much information? If you don’t have this idea, or if you simply don’t have this ability, relying on the market and listening to what others say, depending on your feelings, then what right do you have to earn 100 times or 1000 times? Isn’t that too disrespectful to the laws of development?
Remember one thing: feeling is the most unreliable thing in the financial market. There are a lot of cognitive biases and framework thinking in human psychology. Relying on feelings can lead to disaster.
Isn’t it like I said earlier, making money relies on accumulation, slowly accumulating skills, accumulating capital, and quantitative changes leading to qualitative changes. Then find opportunities to explode and then return to a period of calm.
The bull and bear cycles in the cryptocurrency circle conform to the laws of development; in the bear market, continuous investment is like sowing seeds, while the bull market time may only be 5%. It suddenly comes, briefly and quickly, and then you begin to reap. Many people see you suddenly getting rich. In fact, you have reaped this benefit after several years of sowing. But how could they understand the effort you put in? You succeeded, and they would only say you have good vision and good luck.
Isn’t it unbelievable? So for those still losing money, wake up, quickly return to reality. Work hard to earn money off-market, then buy, buy, buy, and accumulate; that is your only path to making money in a bull market.
There is no god in this world, but many people have a worldview that includes the existence of gods, attempting to find a god to lead themselves. This is a reflection of disrespecting facts, a behavior that disrespects the laws of development. How can one succeed?
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