There are still people playing with contracts, I heard someone went long on a meme coin, ended up losing over a million and then restarted.

Let me tell you about the consequences of playing with contracts.

1. Altcoins are not evaluated based on fundamentals, only whether they can pump or not. They can multiply by dozens during a rise, and they can also drop by dozens during a fall. So if you get the direction wrong, even if you open a 2x contract, you can still get liquidated.

2. Some people make money from contracts and feel like they are on fire, floating around. Living like this, contracts are not a skill, they are an addiction. Once a person experiences the massive wealth fluctuations brought by leverage, they can’t play spot trading honestly anymore, and it’s impossible to change this mindset in a short time. Once you make a wrong move, it could all go to waste, and you might end up losing your entire capital.

3. Some people often lament, "If only I hadn’t closed this position, I would have made hundreds of thousands or even millions now." Let me put it this way, if you hadn’t closed it, the price might not have pumped, especially with altcoins that can be manipulated. Market makers really dislike 'mouse warehouses' and often clear out opposing 'mouse warehouses' before pumping. Of course, if you are a 10U war god, the market maker might spare you.

4. There is no good ending to playing with contracts. Look at those worth tens of millions or even billions who are still playing with contracts, it shows that contracts are like drugs, addictive, and you should never touch them. Once you do, your life could be ruined.

In the end, cherish life and stay away from contracts.