Do I count? I've been in the cryptocurrency circle for 8 years, and I currently have accumulated 28 Bitcoins.

In 2017, I bought a house, had a baby, and was heavily in debt. The company's operations were not smooth. In 2018, I entered the cryptocurrency circle intending to earn some money for baby formula but ended up getting taught a lesson, repeatedly falling for three scam coins...

Later, I changed my mindset: I don't take any risks, only seeking stability.

So I began to short; at that time, both domestic and international cryptocurrency circles were flourishing, with various airdrops coming out.

I persisted for a year, and in the second half of 2019, I earned my first 1 million in the cryptocurrency circle.

In 2020, I faced more difficulties: the pandemic, then company layoffs, leading to my resignation. After a month of reflection, I decided to go full-time in the cryptocurrency circle.

In 2020, I started changing my strategy; shorting continues, but it has become increasingly difficult. I switched to hedging the interest rate spread.

I spent 10 hours a day in the cryptocurrency circle, persisting until the end of 2022, and finally entered A8. I am still working hard today.

To confirm, I currently have about 28 Bitcoins from these years of accumulation.

The cryptocurrency circle is an opportunity-filled melting pot. Many people jump in without fully thinking it through, and their self-assessment is completely inaccurate.

It's like when I first entered the cryptocurrency world in 2017-2018. What I heard was that someone bought a coin, and in three days it multiplied by 1,000 times, and they walked away, launching their life. This is a typical cognitive bias and a self-constructed information bubble.

My strategy is to hedge the interest rate spread.

The principle is very simple but involves a lot of economics and finance knowledge, as well as common sense about the international cryptocurrency world. When I first entered the cryptocurrency circle, I didn't understand any of this; I couldn't imagine that the cryptocurrency world could be played like this.

I'll share my self-assessment.

As shown in the picture below.

This is a screenshot of the current Bitcoin price.

Figure 1 shows the largest exchange in South Korea; the current price of Bitcoin is 151 million KRW.

Figure 2 shows the familiar price of Bitcoin in a certain domestic platform, currently at 798,000.

Then I checked with South Korea's largest settlement center, WISE. Here, be sure to choose the selling exchange rate for settlement; otherwise, the calculation will be problematic. As for what buying exchange rate, selling exchange rate, and offshore exchange rate mean, you can learn about it online; I won't elaborate.

Calculating, the price of Bitcoin in South Korea is 151 million KRW, which is 826,000, while domestically it's 798,000.

The difference on both sides is about 30,000, which is the interest rate spread.

Why does the interest rate spread arise?

This is what I just mentioned about economic knowledge and some common sense in the international cryptocurrency world.

1. The price of Bitcoin is pegged to USD globally, but South Korea does not use USD to buy Bitcoin; instead, it purchases directly with KRW. This leads to a phenomenon where there is an unequal exchange rate difference between USD to us, USD to KRW, and the three parties involved, meaning it is not 1:1:1. Therefore, this unequal exchange rate difference leads to the emergence of the interest rate spread.

2. South Korea, as well as the vast majority of blockchain compliant countries, do not use USD to purchase coins, nor do they have coin-to-coin exchanges. The reason domestic users buy coins with USD is known to those familiar with the cryptocurrency circle. This is an information bubble; many who only mix in the domestic cryptocurrency circle instinctively believe that the whole world buys coins with USD, but that's not the case at all.

Here, I need to introduce an economic principle called triangular exchange rate difference.

More content can be learned and understood online, and you can also recommend reading the book 'Introduction to Economics'.

Back to the point, hedging the interest rate spread is a strategy that accumulates over time. For example, in the past few days, I invested several hours daily, with a maximum of around $3,000 and a minimum of just over $1,000. In a month, there are 8 public holidays in South Korea with no market activity. Many people around me in the domestic cryptocurrency circle look down on HY, but for me, it's sufficient. Year after year of accumulation is crucial for me; stability is more important than anything else. I have a family and children, and I have a mortgage; I can't afford to lose. I can't bear any risks.

As the topic starter said, how many people in the cryptocurrency circle have succeeded? My answer over these years is that none who play HY have successfully exited. I have seen people stop trading coins, but regarding my own strategy, I currently feel satisfied.

#ETH突破3000 #趋势交易策略 #BTC再创新高

$BTC