How long does it take to make your first pot of gold in the cryptocurrency world?
If you're lucky, it can be a week. For example, the Luna opportunity in 2022 was one such chance. A girl from Tencent invested 200,000 and made 10 million in three days by shorting Luna. Such opportunities are rare; whether one can seize the chance is another matter, and whether one dares to go all in is a different story altogether.
Risk and reward are directly proportional. You want to get rich overnight but don’t want to take on the corresponding risks. Such things are not for ordinary people.
Why did Luna crash? It's simple; the project was created by Koreans who claimed they wanted to do e-commerce. Luna is akin to JD.com stock, and UST is like Jingdou (京豆). When you collateralize $1 worth of Luna, they give you 1 UST. Why do I want UST? Because they tell you that storing Jingdou gives you 20% interest annually. Where does the interest come from? They claim that once their e-commerce platform is built, they will use trading profits to pay you interest. In reality, everyone knows this is nonsense. But to make it seem more credible, they say they will use 20% of your collateralized Luna to buy BTC as a guarantee for Jingdou. What does that mean? It means if UST is no longer worth $1 and people don’t want to store it anymore, I will use BTC to buy back UST to ensure it’s worth $1. To put it bluntly, it’s about using your RMB to buy BTC and then using the appreciation of BTC to pay you interest. In a bull market, this model works fine, but once the bear market hits... Haha, this is the simplest P2P scam model!...
The reason Luna has faced such an irretrievable situation today is entirely due to fundamental flaws in its design, but in the beginning, many people didn't understand this. A lot of retail investors tried to buy the dip, and as a result, many lost money repeatedly; while you want to buy the dip, others want to buy from you.
In the cryptocurrency world, if you don't have a good circle and don't have first-hand information, I suggest you follow me, find me, and I'll help you get on board for free. Welcome to join the team!!!
