The crypto world has always been full of legends, and the sudden appearance of Trump Coin made this story particularly unique.
If Bitcoin is the pioneer of the crypto world, and Ethereum is the king of smart contracts, then Trump Coin is an epic ‘scallion harvesting show’. As an experienced player in the crypto world, I witnessed this classic liquidation case firsthand.
Event Review: How my friend went from 0 to 1 and then back to 0 in one hour
Speaking of the protagonist of this story, he is a longtime friend of mine. He usually keeps a 'respectful distance' from the crypto world, and even when I tried to educate him about Bitcoin, Ethereum, and other digital currencies, he appeared completely baffled. But the emergence of Trump Coin completely changed everything.
Stage One: Douyin E-commerce vs Crypto World Breach
The cause is very simple. My friend saw a short video about Trump Coin on Douyin. In the video, so-called 'experts' were frantically touting Trump Coin's 'unlimited potential', claiming it was the next 'world currency' after Bitcoin. Even more exaggerated, my dad brought it up at the dinner table, calling it a 'great invention that will change the world'.
Under this overwhelming promotion, my friend finally couldn't sit still. He decided to personally research this so-called 'miracle currency' and planned to invest a portion of his spare money.
Stage Two: From 0 to 1: How a newcomer completed the entry into the crypto world in one hour
To complete this 'historic investment', my friend began his 'survival journey' in the crypto world. The following are the actions he completed in just one hour:
VPN tutorial: As a seasoned 'lemon player', he was completely clueless about VPNs. But under the temptation of Trump Coin, he finally decided to break through himself and began searching online for relevant tutorials.
Exchange download: After successfully using a VPN, he wasted no time downloading the OKX exchange and registering his account.
OTC trading: To buy Trump Coin, he also needed to complete real-name verification and buy USDT (Tether) through OTC (over-the-counter) channels for subsequent trading.
Although the whole process was full of ups and downs, he ultimately succeeded in completing the breakthrough from '0 to 1'. At the price point near 37U, he decisively took action and became a part of the Trump Coin army.
Stage Three: From 1 to 0: How a newcomer completed liquidation in one hour
However, the story did not end on a happy note. Just after he successfully bought Trump Coin, a series of 'thrilling' operations officially began:
First wave of profit: On the first day after buying, Trump Coin's price saw a slight increase, reaching an astonishing 14%. This boosted his confidence, and he even began to fantasize about future financial freedom.
The temptation of leveraged trading: After seeing contract trading and leverage features, he decided to 'boldly try' and started his 'leveraged life'. However, as we know, leverage is a double-edged sword; with a small mistake, one can lose everything.
Ultimately, in just one week, he not only lost all his principal but also carried a significant psychological burden. This huge gap from 'financial freedom' to 'having nothing' made him deeply realize the cruel nature of the crypto world.
What insights did my friend's story give me?
As an old player in the crypto world, I am well aware of the risks in this market. But after seeing my friend's experience, I couldn't help but be shocked. Here are some of my thoughts on his liquidation incident:
1. Trump Coin: The largest 'breach' IP in crypto history
The emergence of Trump Coin led to an unprecedented 'breach' in the crypto world. Both the general public and the media began to pay attention to this mysterious world. However, at the same time, it also opened Pandora's box for countless newcomers.
2. The worldview of newcomers: How do we distance ourselves from them?
As an experienced player, I find that there is a serious gap between my perspective and that of newcomers. In our eyes, 'entry into the crypto world' may mean complex knowledge reserves and long-term learning accumulation. But in the eyes of newcomers, all of this can be accomplished through simple searches and operations.
3. The essence of liquidation: Human weaknesses vs market rules
From the stories of friends, we can clearly see how human weaknesses are exploited by the market:
Greed: After seeing a 14% profit, he began to fantasize about even greater returns.
Lucky mentality: Believing he could achieve financial freedom through 'bottom fishing' and 'swing trading'.
These seemingly simple mistakes are the main reasons countless newcomers fall into liquidation.
4. The core competency of the crypto world: Summarization and reflection
After experiencing this liquidation, I decided to give my friend some practical advice:
（1）Develop a trading plan: Don't be a headless chicken
Before trading, one must clarify their goals and risk tolerance.
Develop a detailed trading strategy and strictly implement it.
（2）Learning to stop-loss: Controlling losses is more important than pursuing profits
“The army can take the general, but an individual cannot take the will.” This is especially important in the crypto world. Once the stop-loss point is reached, one must decisively exit.
（3）Abandon bottom fishing mentality: Be a breaker, not a bottom fisher
Chasing highs is always safer than bottom fishing. Because market trends are evident, but the bottom is full of uncertainties.
（4）Cultivating emotional awareness: The first lesson of investment is to know oneself
During the trading process, we are often influenced by emotions such as greed and fear. Only by learning to control our emotions can we make rational decisions in the market.
Conclusion
The crypto world is a place full of opportunities and risks. Here, everyone is searching for their own wealth code. But as my friend experienced, without sufficient preparation, the so-called 'financial freedom' will only become a beautiful bubble.
I hope every friend who wants to enter the crypto world can learn from this story and avoid repeating the same mistakes. Remember: In the journey of investment, nothing is more important than 'staying alive'!
