Binance Alpha continues to be competitive, and many people involved in cash grabbing are sending out resignation letters. With this level of competition, everyone understands that in the future, there may not even be a basic safety net for everyone.
Wherever there are many people, there will inevitably be competition. The easiest path is also the most crowded.
There are many people brushing Binance Alpha, but there are even more people playing trading. Of course, there are more people playing trading. It's so hard to make money with something as certain as Alpha; trading, with its uncertainty, is even harder than Binance Alpha. Making money through trading requires a combination of luck, talent, and information advantage. Yessangxi created seven accounts and lost over a thousand after a few days of trading. He told me that he has never made money in the crypto space; whatever he does, he loses.
After some reflection, he finally had an epiphany and deleted the app, exiting the crypto space. He said he has no luck with fortune and is no longer obsessed with the get-rich-quick stories of the crypto world. From now on, he will focus on studying metaphysics and inherit his family’s metaphysical knowledge. I asked him if I have any profitable crypto opportunities, should I tell him? He said no, which shows his determination. He said he would do other money-making ventures in the future and is willing to let me manage his money to buy and store coins for him, providing me with asset management fees.
You can be a KOL, find assets to recover, do cash grabs, provide various services in the crypto space, do paid knowledge, or engage in arbitrage, but do not trade coins. Trading coins means competing against much stronger opponents, and you won't win unless they stand with you. That only happens in the last segment of a bull market, which lasts only about two months. This is a cognitive problem; understanding determines the density of the money you make from trading coins.
Today, a fan who has made tens of millions added me and chatted for a while. In the last wave, he made thousands from Ethereum, cashed out half, bought a car and a house, and lived comfortably for two years. This guy is impressive; in the last bear market, he bought Bitcoin at $17,000 and Ethereum at $1,500. This story tells us that when we should play, we play; when we should stay in cash, we stay in cash. Making money means cashing out. Fortunately, he kept half of it, so he is relatively well-off.
With the subsequent market rise, he sold Bitcoin to buy altcoins, but the altcoins lost value. He then engaged in contracts and directly lost over 10 million. The logic of losing money here is that he relied on Ethereum to make money and thought he could rely on altcoins, but it didn't work. Then he tried to recover his losses with contracts and ended up losing 1,000.
This guy has a bold personality; he is the kind of person who can make money in a bull market. He can hold a large position, endure, and sell off. If there is another big bull market later, he should be able to make back his previous losses without much issue.
I really envy this guy's life. From time to time, he goes to Singapore, Macau, and Russia to have fun. He is carefree by nature. When he has money, he lends a few hundred to relatives and pays for outings with friends. I can't do that.
I talked to him for a long time. Someone with his personality must have grown up in an environment filled with love, seeing only beauty and living a relatively smooth life. He, like me, has a preference for fortune. His money comes from various social hotspots, and it is all earned from information asymmetry.
I think, if you have wealth, don't show it. If you show it to others, it's easy to lose money. He said that after this encounter, he realized that money is only easy to make when you're riding a trend. I hope this guy can make back the money he lost. Based on his experiences, as long as he encounters an information asymmetry, he can basically make money; people like him won't be poor, as he has various money-making information around him.