I am from Hunan, now settled in Guangzhou! After seven years of trading coins, I went from an ambitious 'get-rich-dream' to a life-questioning 'zeroing Zen'. Turning 30,000 into 3 million is not a joke; it is a bloody lesson!
Ten rules of bloody tears, each word is painful, each sentence is heart-wrenching!
1. Don't believe in "hundred times coins"; 99% is a scam, and 1% is luck — I chased countless "hundred times myths" and finally realized that those who really make money are either the early market makers or the lucky ones, while you and I are most likely just fuel.
2. Contract leverage = suicidal DB, liquidation is the end point — I once went all in with 10x leverage and doubled overnight; I also went in with 50x leverage and lost it all in 5 minutes. Leverage in the crypto space is not a wealth code; it is an elevator to the rooftop.
3. "Holding on" and "dead holding" are two different things — holding onto Bitcoin can lead to recovery, while dead holding altcoins will only result in zero. The "value coins" I held dead back then have now even been delisted from exchanges.
4. FOMO into the market in a bull market, cut losses in a bear market — a classic operation of the 'leek': when prices rise, they fear missing out and go all in; when prices fall, they fear going to zero and cut losses. The result is always 'buy high, sell low'.
5. News? The market maker releases it to cut you! — When "good news" comes out, they first pump the price to get you to chase in, then they dump it to make you cry. By the time insider information reaches your ears, it has long become part of the harvesting script.
6. Don’t go all in, and definitely don’t borrow money to trade coins — the outcome of going all in: either you get rich or you die suddenly. Most of the people I’ve seen fall into the latter category. Trading coins with borrowed money? Congratulations, you get a double experience of debt and zero!
7. Exchange bankruptcies are scarier than coins going to zero — if the coins are gone, you can still earn again, but if the exchange goes bankrupt, you can't even find people in the rights protection group. Small exchanges? They're just open gambling houses!
8. Trading coins is not as good as hoarding coins, and hoarding coins is not as good as mining — after seven years of experimentation, I've found that those who honestly hoard Bitcoin have long achieved financial freedom; meanwhile, I'm still on the road to break even.
9. There is no "guaranteed profit" in the crypto space, only "stable losses" — if someone tells you about "guaranteed profits", they are either a scammer or they want to scam you. The only thing stable in the crypto space is the market maker's harvesting machine.
10. The last point: Leaving the market early is the real victory — after seven years, I've realized one thing: those who make money in the crypto space are either early players or smart individuals who know when to stop. And I woke up too late.
