3. After Luna crashed and the cryptocurrency industry collapsed, I started playing blockchain games, and I was able to barely survive those few months. Around August, I had more than 100,000 yuan in liquidity. I thought that LTC would surge higher after the halving, so I contacted a mining farm with relatively cheap electricity in a hydropower station and sent a thousand mining machines there. Get it working. But after less than a month of mining, the computing power of the entire LTC network increased sharply, and the LTC and DOGE produced by a single mining machine also decreased. At this time, we could barely maintain capital preservation, but the electricity and transportation costs were close to 300,000 yuan per month. Maintenance expenses prevent me from hoarding coins. I can only sell the coins produced at market prices every week to withdraw funds. Then in October, Musk successfully acquired Twitter, and DOGE was raised to 0.15u. At this time, I didn’t have many remaining coins in my hand, so I could only rely on daily output and sell them every day. Such a currency price could not be maintained. After a while, the computing power of the entire network increased again. After a period of time, the currency price fell, and the output of the mining machine came to the edge of loss again. I could only borrow 200,000 from a friend at a low interest rate (annual interest rate 20%) to continue to maintain the operation of the mining machine. But in less than two months, the revenue from the mining machine was getting less and less. I had to negotiate with the mine owner, pay the electricity bill, and shut down the machine. During the operation of the mining machine, the income from chain games also dropped significantly, and the studio was finally suspended. By July 2023, when LTC was about to be halved, it exceeded 100u, but the coins in my hand had already been emptied when I paid the electricity bill. During that time, I stayed at home alone to review and reflect, and came to the conclusion that if I had chosen to use existing funds or funds that could be transferred to hoard LTC when the currency price was low, I would have made more than twice as much money in more than half a year. income, but I chose the operation of the mining machine. Along the way, it was because of the expansion of my heart that I failed to move steadily, and in the end I lost in a mess.
I believe that LTC and DOGE will definitely explode during the bull market. Our company’s mining machines and the coins we mined can only be hoarded and wait for the next bull market.
As I was heavily in debt, I could only choose the game gold-making studio that I was most familiar with. So far, I can earn 20,000 to 30,000 yuan a month, but considering my debts and family expenses, this income is a drop in the bucket.
So I adjusted my mindset these days and decided to spend two to three years learning and taking root in the crypto industry.
I will use a small portion of the funds to do contracts, and use the money earned from gaming to stock up on spot goods. Brothers and sisters who are interested are welcome to follow me, and let us encourage each other and witness the bonus period from the bear market to the bull market.
