[New leek experience gained from ten years and ten flatbreads]

Some people may question, you have been in the currency circle for ten years, why have you not achieved financial freedom? Such doubts are very common. The definition of financial freedom varies from person to person. Some people may think that having 100 million is enough, while others may think that 30 million is enough. Often the more leek you are, the more you think about this number.

For me, maybe I’m not financially free yet, but at least I have some freedom and I don’t have to live a 9-to-5 life. As for why I missed certain opportunities, I think I can briefly review my experience in the past ten years, which may give some newbies some inspiration.

1. The first time I came into contact with cryptocurrency was around 2012. At that time, I was exposed to a lot of information on the Internet due to work. I learned about Bitcoin at that time, although I didn’t understand it very well, and online payment was not very convenient, so I never purchased it. It wasn’t until Huobi was established in 2013 that there was a CEX entrance and I registered an account. I remember that the price of Bitcoin skyrocketed from a few dozen dollars to more than a hundred dollars that year. Driven by the FOMO sentiment, I bought more than a dozen.

2. Later, I felt that the growth of Bitcoin was too slow and not exciting enough, so I paid attention to Litecoin, the world’s first altcoin. To take the plunge, I exchanged some Bitcoin for Litecoin. At that time, the slogan "Bitcoin Gold, Litecoin Silver" was so loud that I myself thought that Litecoin might rise even higher. Later, everyone knew the result.

3. Next came the ICO of Ethereum. At that time, one Bitcoin could be exchanged for thousands of Ether. After research, I felt that Ethereum was completely unanchored and had unlimited issuance, unlike mining coins that had the support of computing power, so I gave up the purchase.

4. Subsequently, various exchanges began to spring up like mushrooms after a rain, and more and more counterfeit projects were launched online. I exchanged some Bitcoins for various altcoins, such as the one that claimed to do real asset mapping back then. The original currency, known as Adouyuan, such as EOS, which claims to replace Ethereum, and so on. Most dropped to near zero anyway.

5. Then came the well-known 93 Incident in 2017. That day, I experienced the feeling of being cut from the waist to the foot. In panic, I sold some more Bitcoins.

6. Later, since most cryptocurrencies were exported overseas, I basically did not study them in depth. It was not until later that FIL mining and the DeFi boom attracted my attention. Later, the owner of the Fil mining machine ran away and was severely cut off. Before he could fully experience DeFi, his wallet was stolen for more than a dozen ethers.

7. As for the liquidation of contract positions and the return to zero, these are the tuition and experience of the currency circle, and they can be said to be the same.

Ten years have passed in the blink of an eye, and when I look back at the big cakes I bought back then, I can see that ten of them have been destroyed like this. These disorganized investments or behaviors did not bring much wealth. On the contrary, once the mistake is realized and the investment strategy is adjusted, steady actions gradually bring benefits that far exceed those of random investments.

Looking back, there are a few experiences that are very valuable:

1. The currency circle is a place where cognitive ability is extremely tested. If you cannot keep up with your cognitive ability, it will be difficult to make money, or even avoid losing money.

2. If you are an ordinary person and have not received systematic trading training, even a trained trader may not be successful. So don't expect to get rich here. Of course, there are stories of getting rich every day in the currency circle, but most people will eventually fail. Therefore, you are most likely a loser.

3. Don’t have a gambler’s mentality. Gamblers always hope to win big with small bets. Because their capital is limited, they always hope to get rich in one fell swoop. However, in a zero-sum market, the money you win is the money others lose. The probability is 10% to win and 90% to lose. Can you guarantee that you will always win?

4. Don’t refuse new things, but you must also have strong learning and discerning abilities. Requires very good independent thinking spirit and learning ability. The reason why leeks are leeks is because they follow what others say and do not have independent thinking process.

5. The currency circle is a dark forest, don’t trust anyone’s words, including me. For example, FIL Miner believed what his so-called friend said, only to find out that he was just doing it to get commission points.

6. Be diligent and not lazy. If you are lazy, you deserve to be cut! I don’t mean you have a lot of leeks. Any banker will cut you because you take the initiative to lower your head to the sickle. The first thing many silly leeks say to others is what currency they recommend. Why should they recommend it to you? He doesn’t even have the most basic investment research skills and has lost his ability to learn.Coin mixing circles are not recommended.

7. Any capital can accumulate Bitcoin at any time. Many newcomers always feel that Bitcoin is too expensive, so they choose to buy other currencies, hoping to do so thousands of times in the future. When your knowledge improves, you will be determined to stock up on cakes.

8. Only invest with spare funds. If you don’t have idle funds, you need to plan your funds well and don’t take risks.

9. Don’t use leverage, don’t take risks with leverage.

10. Those who know how to buy are not as good as those who know how to sell. You must be able to identify projects and understand the timing of entry, but you must also know how to stop losses and lock in profits. If you do not stop losses and lock in profits in time, you will ultimately achieve nothing (except for long-term holdings) Bitcoin).

11. From now on, make yourself a simple cold wallet for storing coins, find an unused mobile phone, install the wallet, and then turn off the phone and disconnect from the Internet. Add a watch wallet to the hot wallet and design a regular investment plan. It’s best to lock up your cold wallet and be determined not to move.

12. Accept getting rich slowly, just like I am now. I believe that slowly hoarding Bitcoin will eventually make you rich one day, especially ordinary leeks. If you win, you cannot afford to lose.

You ask me if I regret it? Of course I regret it. If I had invested in Bitcoin, I might be free now. But there is no regret medicine in the world. The knowledge back then was limited. Even if someone told you that you should go to Allin to invest in Bitcoin, you might not dare to try it.

Therefore, raising awareness is crucial. At least like me, you can become an old leek. You may have no leaves, but the roots are always there, always on the table!

If these insights are helpful to you, please like them. If you haven't followed it yet, you can follow it. I will share it here whenever I have time. I also compiled some currency circle analysis tools that I have used over the years and made a small website. The address is on my avatar. The website also includes contact information for many friends who want to join the group!

Thanks to Satoshi Nakamoto for inventing Bitcoin, and thanks to Binance Square for letting us meet! #BTC $BTC