1. Not recognizing the nature of the industry and blindly believing in too many projects. At the current stage, at least 90% of blockchain projects are a series based on illusions and lies. What we need to do is to recognize the illusions and invest in them, and then quit the game before the illusions are recognized by the public.

2. Not respecting the market, gambling with high leverage, thinking that it is easy to make money in the cryptocurrency world. Please remember: the market is always right! One risk, one reward. The cryptocurrency world can allow you to quickly complete your original accumulation, but it can also quickly make you bankrupt. If you do not respect the market and do not have awe for the market, then the market will definitely make you pay the price.

3. Being lazy by nature, afraid of meaningless efforts, and always standing still. The cryptocurrency world is a great place to realize the dream of wealth, but you also need to work hard, otherwise the dream will be split. You can either dream or think. Execution is the key to widening the gap. Sowing and harvesting are not in the same season.

4. Over-reliance on the analysis and guidance of various "teachers", taking their views as investment creeds, enjoying the mental pleasure of being PUA by "teachers", and lacking independent thinking ability. Others teaching you is like taking your pulse, and your own growth is the most powerful medicine. You can wash your feet, but don't be brainwashed. Washing your feet will at most cause athlete's foot, while brainwashing may cause "cerebral palsy".

5. No review, no reflection, no time to study the underlying logic and human nature. Falling into similar traps and traps, falling into the same place countless times. Please always remember one thing: we invest a lot of time and energy to study a project just to prevent ourselves from investing.

6. Frequent operations and self-doubt. "The market falls when you enter, you sell when it falls, it rises when you sell, and you enter the market again when it rises", "stop when you get your money back", "sell when you get the whole amount"... For these phenomena, either you accept your mistakes and reflect on them in advance, or the market will teach you a lesson, and the latter will cause a devastating blow to your capital!

7. Believe in the project, continue to recharge your faith, and lock up your positions with infinite superstition. You like to fall in love with the project, and hope to grow with the project forever. You lock up your own tokens, help the market reduce selling pressure, form LPs to provide liquidity to others, and miss the best time to stop loss and exit.

8. I am extremely anxious and my mentality is unstable. I see someone else getting a huge amount of airdrops, someone else showing off their huge profits... I feel extremely unbalanced and anxious, and I hate myself for not participating. I feel annoyed that I didn't get on the train. I cycle through this mentality again and again, but I don't seriously examine myself and gradually lose my direction. I turned a psychological game about persistence, self-confidence, discipline and patience into an emotional game for myself.

9. Always stay in the low-quality circle, and be keen on the dog projects. Give up breakthroughs! Give up learning! Give up growth! For a long time, you are happy to mix in the bottom circle, always floating on the "surface" of the crypto industry (the transfer of wealth of group members in the form of a capital plate), enjoying the intracranial orgasm brought by the skyrocketing and plummeting of memes and dog projects, leaving yourself with long-term pain and confusion in the crypto career.

10. Blindly trust the "friends" you met in the cryptocurrency circle. Accept their investment advice without thinking, or even lend money to the so-called "friends" in the cryptocurrency circle. You think you can make friends in the cryptocurrency circle, but others treat you like a pig.

11. Being keen on news and emotions, receiving a huge amount of information. Often, one’s own thinking path and direction strategy are correct, but in order to strengthen one’s own analysis, one pays attention to too much news. One thought that this would form positive feedback on investment decisions, but too much invalid or even junk news led to wrong decisions.

12. Get used to self-denial. After repeated losses, people call you a rookie and a loser. You feel that you are not suitable for the crypto market and that you are an idiot. You should not have entered this Ponzi scheme. Since you have already pushed yourself into a corner in practice, why not see how strong your resilience is? For a person to truly grow and make progress in the cryptocurrency world, only 1% of the time is spent making money, and the remaining 99% is spent enduring the pain of being cut into pieces!

13. Knowing that it is a Ponzi structure, they deceive themselves and imagine that newcomers will continue to enter the market to take over, and miss the best time to withdraw. Although bubbles have never been a reason to prevent leeks from entering the market, the absence of bubbles is. But bubbles will eventually burst, and most people cannot learn to withdraw before the bubble bursts. They cannot distinguish the underlying logic and operational differences between the mainstream currency and the capital market, resulting in missing out or being buried deep.

14. Ignore the law of the jungle and neglect the safety of funds. Authorize phishing websites at will, or even share a wallet with multiple "friends" without isolating funds... You think it is a safe project and operation, but risks will always cause a devastating blow to your capital and accumulation inadvertently. For most people, please learn to respect hackers and unscrupulous project parties first, because their attacks on users are mostly dimensionality reduction.

15. Being too greedy and unwilling to accept a reasonable return on investment. They believe that 10x or 100x returns in the crypto market are the norm, and they infinitely magnify their inner greed and blindly become obsessed with the "multiple game". This market is still a zero-sum or even negative-sum game at this stage, and being able to make a profit is already a victory over most people. Ensuring the safety of the principal is the first priority in the accumulation stage.

16. The sense of speculation suppresses the sense of risk, and often stands under the wall of danger. I think that risk is proportional to opportunity, and it is the nature to live on the edge of a knife. There are too many survivor biases in this circle. The people of this kind that I know all have bad results in the end. They may have successfully speculated many times, but they will still lose their years of accumulation because of an accidental black swan event.

17. Asking for the wealth code everywhere. Most of the time, the moment you receive the wealth code, you have become someone else's wealth code.

18. Lack of good investment planning or position management. They like to go all-in, and after experiencing a huge price correction, they are deeply trapped and have no other funds to call on, so they automatically give up better opportunities to buy at the bottom and increase their positions. Even worse, they go all-in on empty coins and return to poverty in one wave.

19. Not expanding other sustainable external income channels. Putting all hopes of turning one’s life around on virtual currency, even betting on coins that can return 100 or 1,000 times. Not choosing investment targets with greater certainty, because of insufficient funds, and trying to win big with a small investment.

20. Thinking that after reading the above 19 points, you can avoid mistakes and losses.