Lessons
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use remiind.cc to remind your crypto lessons automatically and in a fun way.#Lessons
**The Incredible Story of Wei Zhang and His $6 Billion Bitcoin Loss**
🔸 **2010**: Wei Zhang, a visionary investor from China, purchases Bitcoin worth $10, acquiring thousands of coins when they were less than a penny each.
🔸 **2014**: Riding the wave of Bitcoin's success, Wei uses his technical expertise to launch CryptoLeap, the world's first crypto margin exchange.
🔸 **2017**: Wei amasses 99,000 BTC, valued at billions.
🔸 **Early 2018**: Disaster strikes as a sophisticated phishing attack compromises CryptoLeap’s security, leading to the theft of Wei’s entire Bitcoin fortune, now worth $6 billion.
🔸 **Aftermath**: The security breach results in CryptoLeap's collapse and Wei's resignation.
🔸 **Resilience**: Undeterred, Wei turns his focus to cybersecurity, becoming a mentor and advocate for stronger crypto protections, ensuring future investors benefit from his hard-learned lessons.
📢 **Follow, Like, and Share!**
#Crypto #bitcoin☀️ #CyberSecurity" #Lessons
🔸 **2010**: Wei Zhang, a visionary investor from China, purchases Bitcoin worth $10, acquiring thousands of coins when they were less than a penny each.
🔸 **2014**: Riding the wave of Bitcoin's success, Wei uses his technical expertise to launch CryptoLeap, the world's first crypto margin exchange.
🔸 **2017**: Wei amasses 99,000 BTC, valued at billions.
🔸 **Early 2018**: Disaster strikes as a sophisticated phishing attack compromises CryptoLeap’s security, leading to the theft of Wei’s entire Bitcoin fortune, now worth $6 billion.
🔸 **Aftermath**: The security breach results in CryptoLeap's collapse and Wei's resignation.
🔸 **Resilience**: Undeterred, Wei turns his focus to cybersecurity, becoming a mentor and advocate for stronger crypto protections, ensuring future investors benefit from his hard-learned lessons.
📢 **Follow, Like, and Share!**
#Crypto #bitcoin☀️ #CyberSecurity" #Lessons
Feel the pain also.
The rich also feel the pain: The problems of crypto billionaires
Let’s discuss a crypto phenomenon today and understand why the path from crypto to fiat billionaire is not always straight.
A crypto billionaire is someone who holds $1 billion worth of crypto. You’d think they just have to sell their tokens and become regular billionaires, right? But in reality, it’s not that simple.
With such a desire, our billionaire will immediately face difficulties:
1. Market liquidity
If you decide to sell all your crypto assets at once, it will almost certainly cause the price of your coin to drop. And because of this drop, you won’t get $1 billion. What’s more, if you’re holding a not-so-popular asset, there may simply not be enough liquidity in the market (and you’ll crash the price to zero).
2. Regulatory concerns
Cryptocurrencies are not yet fully legalized in many countries, so turning them into fiat money can be difficult or even impossible.
3. Taxes
When you sell your cryptocurrency, it is considered a taxable transaction in most countries. Depending on the country, taxes can eat up a pretty huge chunk of your assets—easily 15%, 20%, or 30%.
Crypto billionaires aren’t exactly billionaires—at least not until mass crypto adoption happens, and they won’t be able to pay with crypto on par with fiat money.
Let’s sympathize with these unfortunate people together😂
#LessonToBeLearnt #Lessons #RiskScamWarnimg #Risks #LearnTogether
Let’s discuss a crypto phenomenon today and understand why the path from crypto to fiat billionaire is not always straight.
A crypto billionaire is someone who holds $1 billion worth of crypto. You’d think they just have to sell their tokens and become regular billionaires, right? But in reality, it’s not that simple.
With such a desire, our billionaire will immediately face difficulties:
1. Market liquidity
If you decide to sell all your crypto assets at once, it will almost certainly cause the price of your coin to drop. And because of this drop, you won’t get $1 billion. What’s more, if you’re holding a not-so-popular asset, there may simply not be enough liquidity in the market (and you’ll crash the price to zero).
2. Regulatory concerns
Cryptocurrencies are not yet fully legalized in many countries, so turning them into fiat money can be difficult or even impossible.
3. Taxes
When you sell your cryptocurrency, it is considered a taxable transaction in most countries. Depending on the country, taxes can eat up a pretty huge chunk of your assets—easily 15%, 20%, or 30%.
Crypto billionaires aren’t exactly billionaires—at least not until mass crypto adoption happens, and they won’t be able to pay with crypto on par with fiat money.
Let’s sympathize with these unfortunate people together😂
#LessonToBeLearnt #Lessons #RiskScamWarnimg #Risks #LearnTogether
Most Important Lessons I've Ever Learned 😇 For Consistency In Trading. Must Follow Guys.
Follow For More 😇.
#AtifTrading #Lessons #Tips #Binance #Consistency
Follow For More 😇.
#AtifTrading #Lessons #Tips #Binance #Consistency
Most Important Lessons I've Ever Learned 😇 For Consistency In Trading. Must Follow Guys.
Follow For More 😇.
#AtifTrading #Lessons #Tips #Binance #Consistency
Follow For More 😇.
#AtifTrading #Lessons #Tips #Binance #Consistency
