Many people have added me these days, all of whom have lost a lot of money in the cryptocurrency circle. Some are even heavily in debt, and their wives and children have left them. I couldn't help but sigh when I heard what they told me about their situations, so I came up with the idea of writing this article. I hope that after reading this article, you will be inspired to survive in the cryptocurrency circle in the future.
Without exception, all of these people who lost a lot of money wanted to get rich quickly and turn the tide. Their strategy is usually to gather enough capital, buy small coins, and then expect the coin to increase by a hundred or a thousand times.
Their methodologies are very complex and there are many of them. I have seen all kinds of them, some use the Chaos Theory, some use technical indicators, some look at the news, some look at the flow of positions, and some look at hot spots. Their methodologies are full of a sense of secrets that cannot be passed on. Not surprisingly, if enough people do it, there will always be a few people who will become rich overnight.
I can summarize the reason why they lose money in one sentence: the root cause of their loss of money is that there is something wrong with their world view.
Because they lack the idea of seeking truth from facts and do not respect the fundamental laws of the development of things.
In their eyes, the law of development of things is like this: making money should be done quickly, only in this way can you get rich overnight. Aren’t those rich people all rising in this way by taking advantage of opportunities? In life, you must seize a few opportunities to get rich quickly. You must make a lot of money immediately and in a short period of time.
In my eyes, the law of development of things is this: they all rely on slow accumulation, and when they accumulate to a certain amount, there will be a sudden qualitative change, and then money will be made quickly, and then they will fall back and return to a stable period, or even a period of loss.
If you don't believe it, you can observe carefully. Any company is like this. It accumulates over a long period of time, then grows slowly and occupies the market. Then its products accumulate to a certain volume, undergoing a qualitative change, or it hits the right trend and suddenly explodes.
Think about whether BYD is like this, and whether those small factories that make masks are like this. And some large enterprises, the best companies in the world, have all gone through this.
The same is true in life. Through continuous accumulation, and then hitting a certain point, you suddenly explode and make a lot of money.
So the illusion given to those who don’t think deeply is that they made money suddenly, but they forget what kind of accumulation and sedimentation those who made a lot of money went through to get to where they are today.
I used to work in e-commerce, and it would take 10-30 days to cultivate a hit product, then it would explode, and then return to normal.
Even the love between men and women depends on accumulation, then explodes at a certain point, and then returns to normal.
There is no climax in life all the time.
Those who want to get rich quickly in the short term, such as trading, buy low and sell high, buy and sell, buy and buy again. Trying to make money from every fluctuation in the market. He will have an illusion in his mind that if he can seize dozens of such opportunities, he will be financially free. This may be enough in just one year, or even a few months.
But they are not good friends with the banker, they themselves do not have the ability to be a banker, nor do they have sufficient judgment conditions. It would be strange if they did not get cut if they rushed in like this. The banker can make money but not become a banker immediately, and they have a lot of funds immediately. They have accumulated such ability through several cycles. Back to the point again, everything depends on accumulation. Without accumulation, trying to succeed is to break the law of development of things. That is playing tricks.
If you want to get rich quickly and change your life, I would like to ask you, what is your reason? Are you worthy? So I always say that the world view comes first, and the methodology comes later.
If the world view is wrong, methodology is useless.
Don’t think that some people will post their earnings on their Moments every time they make money. You may never see them post their losses. Why don’t they post? Because they are embarrassed to post that they have failed. Isn’t this disrespecting reality? It gives people the feeling that they always win, always win, and never lose. But how is it possible? In order to gain respect and admiration from others, for that little bit of dopamine, they began to convince themselves that posting is fine, anyway, it doesn’t cost money, and people won’t know anyway. But after deceiving others for a long time, they are also deceived by themselves. In the end, they are forgotten by the crowd.
There is a group of people in the market who do this. I call them 10U Gods of War. They open shorts and longs at the same time, and publish the rate of return of whichever one makes money. However, they never dare to show the absolute return, but the rate of return. If 10U makes 100U, it is a 1000% rate of return, how awesome. However, many people do not have the ability to think deeply, so they do not have the ability to identify scammers. They will even defend scammers, because scammers have become gods in their hearts through a series of hints. Do you think they have a problem with their worldview?
If you use 10U, I believe you can also succeed. But is this kind of success meaningful? Can it change your life? Let me make a simple analogy. If you walk a distance of two feet wide on flat ground, you will be able to do it with ease. If you are asked to walk a distance of two feet wide on a 20-meter high platform, can you walk so easily? Think about it carefully. If you want to walk at a height of 20 meters, do you need training, accumulation, and overcoming various obstacles to do it? Some people can't do it in their entire lives because they have a fear of heights. If you can't do it, then you can't do it. What does it matter? If I want to walk from this building to that building, I can just take the stairs, climb down my own building, and then walk to the opposite side and climb the stairs. It just takes a little more time and energy. Why do you have to do something so difficult, thinking it is a dead end with a shortcut?
The so-called shortcut must be the right way. A fair and upright road, the right way must respect the law of the development of things. For example, the method of hoarding coins, hoarding mainstream coins. Especially in the current bear market, make more money off-site, and then hoard more mainstream coins. Take the basic income of the next bull market, such as 10 times, and then explore some exchange activities, participate more, and make yourself 50% more. For example, you only have 100,000 now. Then buy it now, the bull market will become 1 million, and then you arbitrage, 1 million may become 150%. Or even 2 million. Is this road fast? Not fast at all, but it conforms to the law of the development of things. This is the right way and the shortcut. The so-called speculation, short-term buying and selling, that is useless. This is speculation, so first of all, you have to have the ability to speculate. If not, it is useless.
In addition, don't be too ambitious and think that 10 times is not enough, you must make a hundred times or a thousand times. Everything has a price, and you can grab a 1000-1000-fold coin if you want to.
But you have to meet several conditions. You have to know some English. You have to be able to read the white paper, don't ask me to translate. You must understand the design of blockchain, such as Sybil attack, Byzantine problem, second-layer network, lightning payment. And the background of the founders, as well as the investment institutions, and their financing amounts in each round.
You need to know a lot of things to increase the probability of your currency selection. So you have to ask yourself, do you have the confidence and ability to understand these things? Are you willing to put in so much effort to make a hundred times or a thousand times more money? Do you study so much information? If you don’t have this idea, or you don’t have this ability at all, and just rely on the market, listen to what others say, and rely on your own feelings, then how can you make a hundred times or a thousand times more money? Isn’t this too disrespectful to the laws of the development of things? If you can make a fortune by relying on your feelings, then people with sensitive feelings will make a fortune.
Remember this: feelings are the least reliable thing in the financial market. There are a lot of cognitive biases and frameworks in human psychology. Relying on feelings can kill you.
Is it the same as what I said before, making money depends on accumulation, slowly accumulating ability, accumulating funds, quantitative changes lead to qualitative changes. Then find an opportunity to explode, and then return to a flat period.
The bull-bear cycle of the cryptocurrency world is in line with the law of development of things. Continuous investment in the bear market is like sowing seeds, and the bull market may only last 5%. It comes suddenly, short and fast, and then you start to reap the rewards. Many people see that you suddenly got rich. In fact, you got this income after several years of sowing seeds. But how can they understand your efforts? You succeeded, they will only say that you have a good vision and good luck.
Isn't it incredible? So those who are still losing money, wake up and return to the real world. Try to make money off-market, then buy, buy, and hoard. This is the only way for you to make money in the bull market.
There is no God in this world, but many people believe that God exists in their worldview and try to find God to help them. This is a manifestation of disrespect for facts and an act of disrespect for the laws of development of things. How can it succeed?