Recently, an article about contract gambling has become very popular.
The general idea is as follows:
A mother born in '91, influenced by her cousin who made over 600,000 trading cryptocurrencies during her pregnancy in 2020, opened an account to trade. Initially, she made a small profit of a few thousand yuan from buying altcoins but did not stop in time. Instead, she began to research contract trading, hoping to quickly recover her losses, despite her cousin repeatedly advising her against engaging in contracts and altcoins. She still did not listen.
After that, she frequently engaged in contract trading, continuously increasing her investment from 10,000 USD to 30,000 USD. However, her losses became more severe, and she faced multiple liquidations, losing all her deposits. She also borrowed 150,000 USD to invest in funds, later redeeming the funds to continue trading cryptocurrencies. By May 2021, she was in debt of 320,000 across more than a dozen online lending platforms.
After she confessed, her husband in a state-run job forgave her and borrowed money from everywhere to help her repay debts. Her in-laws also gave 120,000. However, she did not cherish it, as her identity as a housewife and inner insecurity led her to fall back into the vortex of cryptocurrency trading, with debts continually accumulating. By August 2023, she had been living off loans, and by December, her debts reached 580,000, even leading to extreme thoughts.
After learning about this, her husband gave her one last chance and decided to sell the house to pay off the debts. In April 2024, the house was sold for 880,000, clearing the debts, but a trust crisis arose between her and her husband, who became very cautious of her. She could not endure this life and fell back into trading cryptocurrencies, accumulating debts again to reach 610,000 and even asking her parents for 160,000 to fill the losses. Ultimately, her husband could not forgive her, and they proceeded with the divorce.
Now, she is in overdue debt and does not dare to go out, and her parents also sigh for her. After reflection, she decided to go out to earn money, and if she has the ability, she will repay her ex-husband's loan. She regrets not listening to her cousin at the beginning and just hopes to live a stable life in the future.
Nangong's comments:
From 2011 to 2025, Bitcoin rose from a few dollars to hundreds of thousands of dollars each, and it may rise to millions or tens of millions in the future. But every year, there are still people going bankrupt from trading cryptocurrencies. Why? Because they are trading altcoins and playing contracts. Have you ever seen someone who hoarded Bitcoin go bankrupt? I have only seen those who hoarded Bitcoin become rich and emigrate.
Facing Bitcoin, a level of opportunity like the internet. Many people treat it merely as a gambling tool. Clearly, it is the currency of the future, a savings tool, a long-term plan. Yet, it is used for gambling, which is truly tragic.
No one is willing to slowly become rich. Everyone wants to get rich overnight by cutting others' leeks, not realizing that they themselves are the leeks.
Facing Bitcoin, a once-in-a-lifetime opportunity, even 16 years after Bitcoin's birth, we can still plan for ten years.
In ten years, in 2035, when you see this article again, you will shed tears of gratitude or regret.
The original text is as follows:
(A mother born in '91, lost 2 million from trading cryptocurrencies to contracts, her husband in a state-run job sold their house to rescue her, yet she still did not cherish the opportunity, only regretting after the divorce.)
I am a woman born in '91. During my pregnancy in 2020, I frequently saw my cousin's messages about trading cryptocurrencies in my friend circle. At first, I thought it was just an advertisement, but later in a conversation, I heard her say she made over 600,000 from trading cryptocurrencies, which made me envious, so I also opened an account. Initially, I did not set contracts but bought many altcoins, while my cousin mainly traded Bitcoin, which had a high entry threshold and was very expensive, so I could only play around.
After trading for more than a month, I made a few thousand. It would have been great if I had stopped then, but I did not. After being deceived, I researched contracts, wanting to recover the losses quickly. Unexpectedly, I fell straight into a trap. At that time, my cousin advised me not to mess around and suggested I invest a little money and follow her to buy Bitcoin. She repeatedly reminded me not to get into contracts or altcoins, but I just wouldn't listen. During that time, I watched the market every day, studying contract trading. I didn't know what coins I had bought; the prices kept falling. I felt the opportunity was coming and thought I would definitely get rich. I invested 10,000 USD and started leveraging contracts. After opening the order, I thought I was going to make it, but unexpectedly, shortly after, the market turned against me, and I quickly faced liquidation, losing all 10,000 USD in my account. At that time, I only had about 200,000 in savings, and just like that, I lost over 70,000 cash without even mentioning it. I felt extremely distressed and did not dare to tell my husband. I was also unwilling to lose so much money, so I could only continue to gamble. Another reason was that seeing my cousin make money made me more unwilling. She earned money while I lost money; if she were generous enough to share a little of her profit with me, I thought I would have won.
Later, I became bolder and continued to invest 30,000 USD, starting to play cautiously. In just over a week, I recovered a bit, but it was not much. Investing several million USD could earn something, but it seemed that no matter how I played, the market was always against me. When I shorted, it rose; when I went long, it fell, as if the market was forever working against me. Sometimes I even suspected that those speculators were targeting my meager savings to 'harvest' me. The losses kept increasing, and I kept pulling leverage, always thinking about recovering quickly. One day in August 2020, just one afternoon, I received another liquidation message. All my savings were completely wiped out. Sitting on the sofa, my hands trembled when I picked up my phone, wanting to cry but not daring to, because my husband was at home. That feeling was truly unbearable.
I did not confess and instead became afraid to play contracts because at that time, I heard another relative say they made several thousand from buying funds. I felt that funds were stable; even if they lost, they wouldn't lose much. So, I borrowed 150,000 in loans to play contracts. After that feeling, I lost hundreds or even thousands every day, completely not what I had envisioned. I could no longer endure it and had no patience; I redeemed all the funds and went to play. For those who have not experienced buying funds, it feels similar to those who learned to trade cryptocurrencies. I never wanted to touch stocks again because it felt too slow, and I had no patience.
By May 2021, unknowingly, I had already borrowed from more than a dozen online lending platforms. One loan amount in the app was 64,000, and at that time, I was in debt of 320,000. I didn't want to hold on anymore and could only place my hopes on my husband. Since I had a child, I thought he would only scold me a few times and wouldn't divorce me. Later, as expected, my husband indeed forgave me. I owed 320,000, and he borrowed money from everywhere; my in-laws gave me 120,000, and we managed to gather enough from other sources. He had a decent income in a state job, earning an annual salary of 150,000. He told me that as long as I didn't touch it again, things would definitely get better in the future. My husband usually enjoyed drinking a bit, did not smoke or gamble, and occasionally, while we were out shopping, I liked to spend a few bucks on scratch-offs as a pastime. Sometimes, I didn't understand why I, as a woman, had such a huge emotional side.
I am a housewife and do not need to work. I want to live more comfortably than many others, but the good days did not last long, and my heart began to feel restless again. Without money, I always felt insecure. I once had hundreds of thousands in savings, earning a few yuan in interest daily from my balance account. I could not accept such a discrepancy. Nevertheless, we still insisted on quitting gambling.
In 2022, my mother-in-law was at home doing nothing, and she suggested helping me take care of the child so I could go out to find a job. Since I got married, I had never worked. She might have said this casually, but when I heard it, I felt particularly uncomfortable, as if she looked down on me and thought I was just eating for free at home. It was this comment that stimulated me; I realized I couldn't accept it because being broke truly leads to being looked down upon. I started working as a waitress, making just a few hundred at first, dropping a little and immediately throwing it away. Gradually, my greed grew, and I could only comfort myself to gamble a bit. If I lost a little, I would madly increase my leverage, and recovering the money felt much better. I have seen many submissions here; although this is about contracts, it is essentially the same as gambling, perhaps even more severe.
I also lost some money; when I shorted, I made 10,000 USD. At that time, I thought about recovering all my savings, but small gains were temporary. Winning for ten days was not enough to cover losses from one afternoon. Once I pulled leverage, it was either recovering losses or returning to break-even. Each time was a heavy bet to earn; I felt deeply powerless, but there was really no alternative but to continue. This kind of hellish life continued until August 2023, where I was living off loans to pay off loans, borrowing from online platforms to pay friends, then borrowing from friends to pay online loans, immediately borrowing again. I deeply regretted why I could not enjoy good times without touching contracts. But what good is regret? I still had to repay my debts! By December 2023, I could not stop anymore; my debts to relatives and friends online had reached 580,000. The interest from online loans took away a lot of my money, and the principal I borrowed was all given to the speculators. I had even bought charcoal on Pinduoduo, wanting to leave with my child, but I never had the courage.
During this confession, my husband sat in the living room and drank a glass of white wine in one go. I had never seen him drink so fast and so much. After finishing, he said to me, 'Let's divorce.' He felt I was beyond saving, that money was not treated as money, and if it continued like this, we would lose the house. I agreed too; all the problems stemmed from me, and I did not expect him to repay my debts. After saying this, we slept in separate rooms. After I put the child to sleep, I sneaked into his room, wanting to apologize with a lie. The next day, he went to work and did not mention the divorce issue. A few days later, he said he would give me one last chance. If I did not cherish it, he would divorce me without hesitation. Because that house was bought for him by his mother after marriage, he wanted to sell it to repay the debts and then use the provident fund to apply for a loan to buy another one. Later, the house was put up for sale.
In April 2024, the house was sold for 880,000, and my debt was cleared. However, he did not give me the remaining money but kept it on his card, which was not linked to Alipay or WeChat and did not have online banking. I knew his real thoughts, which was to guard against me, fearing I would steal that money while he was asleep. If he did not guard against me, it would have been better. At least I would feel mutual trust. Because he guarded against me, it made me think too much. Usually, when I wanted to buy something, I had to report to him. For example, if I wanted to buy hand cream, I had to tell him the price and show him a screenshot before he would transfer the relative amount to me. Although this kind of life is free to some extent, it is really uncomfortable.
As a housewife, I do not demand to be treated as before, but at least I should get a few hundred bucks. I have nothing, and I have to ask him for money to buy groceries, cook, or order takeout. It feels like he is just giving me alms. I can't stand this kind of life and do not want it. I feel that he is not giving me face, so I need to earn face for myself, so I continued to download trading apps. The result was still the same; I kept losing.
From that time until the end of last December, my debts peaked again at 610,000. During this period, I also borrowed another 160,000 from my parents for other reasons, which I filled in. I actually lost at least 700,000. Feeling helpless, I could only take my child back home and confess to my parents, but they could not help me repay either. A lot of what I said was out of anger, and I couldn't control it. I thought about apologizing afterward, but he didn't forgive me, so we went through with the divorce, and he ultimately left me. From this year until now, I still haven't gone out to work, and my debts have all gone overdue. I locked myself in my room, afraid to go out and be discovered by relatives and friends. My parents sighed, lamenting that raising a child has a high cost, but they had no choice but to support me.
Recently, I have thought a lot. The divorce and debt are already facts that I can only accept and face. Last night, I discussed it with my parents, and I decided to go out to earn money. If I have the ability, I will pay off my ex-husband's loan in the future. If I don't have the ability, then so be it. If I encounter the next love, I will definitely cherish it.
I also want to regret. If I had listened to my cousin and traded Bitcoin steadily at the beginning, I wouldn't have lost. Moreover, if I had not bought the big pie back then, the current price increase is shocking. I missed that opportunity and no longer dare to fantasize. I just hope to work steadily and live a stable life in the remaining years.
