A few days ago, I met with a member of our community. Because this member is very obsessed with blockchain and often takes group members away, everyone affectionately calls him Brother Fei. The original purpose was to discuss the opportunity assessment of a DID social project. During the process, we also exchanged our respective experiences and experience summaries in the cryptocurrency circle.

As a senior player who entered the last bull market in 2017, Fei Ge is a veteran player who has 5-digit Ethereum. He is also a serial entrepreneur in the traditional mobile Internet industry. He successfully exited the company after raising tens of millions of yuan. After he chose to start his own business, he also successfully raised funds and sold the company.

Finally, I chose to go all in on web3. At the end of last year, I also guided my friend’s company to turn to blockchain when it was in a business crisis. I made hundreds of dollars playing CL and NFT. (I slapped my thighs and met Fei Ge too late)

The entire discussion lasted about three hours. I reviewed some of the key points based on my memory.

About losses:

Brother Fei: There are two main reasons. I bought the bottom too early after the peak of the 2017 bull market, and I quickly ran out of money. I also held on for a long time in the 2018 and 2019 bear markets. Since there was no cash flow off the market, I had to sell a lot of my shares at a low price, about 400. I originally had five-digit ether, but in the end, only a few thousand were left.

Another one is algorithmic stablecoins. At that time, I played with a lot of algorithmic stablecoins and made money too quickly. Sometimes I could double my money in a day. Finally, I encountered a bas and made a lot of money. After the high position fell, I chose to keep adding positions. In the end, I lost hundreds of dollars.

About Trends:

Me: Why do you mainly play on-chain? Can you operate mainstream coins on Cex? (Because most users in the crypto circle still trade coins on Cex.)

Fei Ge: I rarely speculate on exchange tokens, except for Ethereum trading. Because I prefer new things on the chain, new things are all on the chain, there are more and more users on the chain, and the ecosystem is becoming more and more perfect.

The proportion of users will gradually exceed that of centralized exchanges. This is the trend. If we stand on the trend, there will naturally be more opportunities. You can see various project innovations on the chain, so there are dividends on the chain.

About Bull and Bear:

Me: Were there many bear market opportunities before? When Bitcoin rose to 20,000 after 312, did you feel that the bear market had turned into a bull market?

Brother Fei: It won’t be boring. In six months at most, new models will emerge to bring about a wave of market trends, such as fomo3d in 2018, many gambling games on EOS, and Fcoin trading and mining in 2019. Innovative teams will rack their brains to bring new gameplay and new models.

It may last for about two months. When you see the innovation earlier than others, enter with a heavy position and exit early, you can still reap tens or hundreds of times the returns.

I didn’t avoid 312, and the market went up a lot later, but we didn’t feel that a new bull market was coming. When Defi emerged in May 2020, the money-making effect was already very good.

I didn’t feel that a big bull market was coming until Ethereum rose above 1,300 and broke through the high point of the previous bull market. Then I felt that the trend was very obvious. It is impossible to judge the specific bull and bear market. The important thing is to grasp the big model innovation on the chain.

About making money in the cryptocurrency world:

Brother Fei: It is not difficult to make money in the cryptocurrency circle. Basically, you can achieve good results by relying on information asymmetry and hard work. 80% of people in the cryptocurrency circle are too lazy. When they see an opportunity, they ignore it to a large extent.

Another thing is to pay attention to new ways of playing and new models. Another characteristic of people in the cryptocurrency circle is that they prefer new things over old ones. For example, when the free mint of NFT comes out, this is a new model. When this model comes out, the old ways of playing are useless and public auctions are almost unnecessary. Just play with new models and there will be more opportunities.

Of course, projects can be divided into big innovation and small innovation, or high-level innovation and low-level innovation. This market is so good that you can constantly see new and interesting things. Compared with traditional fields, there are more opportunities for innovation here.

Why do we need new things? Because old things are no longer attractive. After StepN fell for two months, all models of making money by running were brought down with it. No one dared to enter. Everyone saw through it.

At this time, new ways of playing are needed, which bring traffic and funds. There may be a new big track revolution, such as Defi and Gamefi, which everyone looked down on and didn’t understand at the beginning.

After a small group of people start trying it out, with the logic verified and the money-making effect, it will lead to a big market trend.

About the disadvantages:

Brother Fei: I rarely stop loss when investing in projects. I just leave the money there, either waiting for it to soar 10 times or wait for it to return to zero. I am more concerned about the odds, and NFT, I just play with a few ethers, and for Free Mint, because the cost is very low, I usually play with hundreds of them.

There is one disadvantage of this operation, there are a lot of loss costs. For example, in your boxing mobile game, when you told me to run, I didn't move, I kept making money, and never got my money back. I was buried, but it was only tens of thousands of dollars.

About advantages:

Fei Ge: I think your research ability is very strong, especially when you talked to us about the data review of StepN, you used data to study the development stage of the project and thus determine the good buying and selling points. This is something I have never thought of before, it is completely new and very rewarding, and it can also help me make good investment decisions in the future;

I recently saw an NFT data analysis team that used data to calculate the buying and selling points of the NFT secondary market, and then made investments. They were able to make millions of dollars a year. So I think you can delve into data analysis and use it to guide investment. I believe that if you are on the chain, you can definitely make money. It is easy to make money through investment research.

There are many details and specific project contents in the conversation, which I will not elaborate on here. As a newcomer who entered the circle last year, I actually have a vague understanding of the entire market and have many confusions and questions.

Communicating with predecessors who have been investing on the front line through bull and bear markets can help us clear up many blind spots.

For example, there will be many opportunities in a bear market, and big innovations will appear in a few months. This is because there are enough participants in this market, and too many smart project teams will continue to innovate in this market.

Blockchain is a highly iterative and evolving system with continuous development of productivity and evolution of organization.

What is important is the new model, and the ecosystem is much better than before. It is a pity for those who left in the bear market. I am optimistic that Ethereum will reach $10,000 in the future bull market.

That's all, Dyor.

Author: Chad, Twitter @chad1997y; Editor: Gemini, Twitter @Gemini0x17