I saw a passage these two days, it is not easy to make money in the cryptocurrency circle.
Hoarding BTC is exchanging time for money; doing projects/interactions is exchanging labor for money; being a KOL is exchanging face for money; opening contracts is exchanging life for money. What is your method?
Everyone has a different way of gaining, but it is not easy behind the scenes. Even if hoarding BTC seems to be the simplest, not everyone can stick to it. It is difficult to be a holder. It is not a straight rise, but full of ups and downs, and even zero.
For example, some people who came into contact with cryptocurrency in the early days may have seen a bitcoin worth $1. Those who bought it at that time cannot get it now; and those who did not buy it at that time will not wait until it reaches $60,000.
There was a screenshot that was widely circulated. On June 2, 2011, the price of Bitcoin was 9.9 yuan. Someone posted a Weibo saying that "it will soon break the 10 yuan mark", and someone commented that he was a liar. Today, the price of Bitcoin is more than 200,000 yuan.
I don’t know whether the person who posted on Weibo bought it, how much he bought, and whether he has got it now; every time I read a story, the protagonist is someone else, and it is difficult for good luck to fall on my head.
Although no major projects launched airdrops during this period, projects such as Arkham, Worldcoin, KaratDAO, etc. provided airdrop benefits to early users. It was not a nationwide carnival, nor was it particularly popular.
When I wrote the Worldcoin article in May, I knew that I could buy an iris authentication account for $30, but considering the difficulties and risks of withdrawing the purchased account later, I gave up.
Of course, the main reason is that there is no active awareness of taking advantage of airdrops. Without input, there will naturally be no output.
A friend who specializes in interaction bought an account at that time and got more than 60 WLDs when he went online, which was considered a reward.
He insists on interacting with several popular projects such as zksync, starknet, L0, etc. on a daily basis, and manually operates 100 groups of accounts; occasionally there are airdrops from small projects, which can be regarded as an increase in income.
Doing interactive work is really hard and requires upfront investment. Most people can’t stick with it, and the few who do either make huge profits or bet on the wrong track and miss the opportunity cost.
Chu Xiaolian has been learning how to do self-media for more than two years. He is not a KOL now and has only tens of thousands of fans. He does feel that it is too difficult to monetize through content output.
There are all kinds of KOLs on social media, each with different focus and different ways of outputting content.
KOLs with many fans are either really good, have been in the circle for a long time, and continuously output value; or they are people who can tell jokes and brag, and also get traffic.
If you look at the continuous output of some KOLs, you will find that they speak inconsistently, they will cut leeks, and the content they share is true and false. You don’t know which one is the truth and which one is waiting for fans to take over.
Therefore, when following hot topics on social media, you need to develop your own way of learning and thinking. There are too many voices, and many of them are noise.
I am a person who cares little about face, but I am also a sincere person. I will not play tricks and I am still learning. It is not easy to make money as a KOL.
Opening a contract means making money at the risk of your life. You either win big or lose big. People who open a contract cannot sleep well.
Last year, a friend of mine lost several million in contracts. Although it was within his ability, it was obvious that his physical condition was very poor, his liver and lungs were damaged, and he was in a trance. He had a strong ability to make money off the field, but the contract was indeed a bottomless pit.
Fortunately, he stopped in time. Now he pays attention to other hot topics and is active in some small circles. His health and complexion are much better.
There is also the 17-year-old contract boy Liang Xi, who was very popular last year and earned 50 million. He has not been seen for a long time recently. There are various legends about him circulating in the world, but there is no doubt that he has lost all his money.
Contracts are harmful and cost people their lives.
If you want to get rich overnight through contracts, you should let go of the obsession as soon as possible. No one can stop when they are ahead, no one can overcome the weaknesses of human nature, and there is no happy ending.
Of course, it’s not just the crypto world, all walks of life are having a hard time right now; but every industry has its leaders, and there are people who can find opportunities, even in these difficult times.
While we envy others' profits, we should also try our best to improve our own skills. We live in the same era, why can they do it, and what is so special about them?
With more thinking and less fomo and following the crowd, you may find clues. Let’s encourage each other!
The above is just my personal opinion, not investment advice. I am Chu Xiaolian, and I am paying attention to the Metaverse and web3.
