Lao Jiang, a cryptocurrency player in Hangzhou: From tens of thousands to over 100 million, he advises people around him to forget about "getting rich quickly"

Lao Jiang's story is circulated in the circle of friends: a post-80s generation, originally a teacher with a fixed income, later made a lot of money by speculating in Bitcoin. "Now he is worth over 100 million." said a friend who knows Lao Jiang well.

Lao Jiang is from a small county town. Before entering the cryptocurrency circle, his salary was just enough to support his family. "After get off work, I like to study some investment knowledge. In the stock market, I am also an old stock investor."

The turning point came at the end of 2016, when Lao Jiang switched tracks and entered the cryptocurrency circle. Lao Jiang still remembers this change vividly.

At the beginning of 2016, the A-share market launched the circuit breaker mechanism for the first time, but the A-share market triggered the circuit breaker in the two trading days after the official launch, and the stock market fell sharply. "The market was not good at the time." Lao Jiang said that the sluggish stock market made him turn to a new investment target: Bitcoin.

"It happened that I heard about Bitcoin from my friends before, so I considered investing in virtual currencies such as Bitcoin." Before entering this new field, Lao Jiang did his homework. At that time, he would study on his computer as soon as he got home. His family members did not understand and even advised him not to touch these things.

It was at the end of the sluggish 2016 that Lao Jiang bought the bottom with more than 100,000 yuan.

Why was he so bold? "At that time, I also treated it as a side job after work, and used my off-get off work time to learn and do it. I mainly focus on long-term investment, and I am optimistic about coins with technology and innovation, reliable project teams, and application prospects. After buying, I basically hold them." Lao Jiang said that for the working class, this is not a small amount, but he plans to take a gamble.

In fact, Lao Jiang's layout in the currency circle also determined his luck. Due to limited funds, he only bought a small amount of Bitcoin at the time, and held some altcoins at the same time. Unexpectedly, virtual currency ushered in a bull market in 2017, and many coins rose by dozens or even hundreds of times.

In the wave of the bull market, Lao Jiang's considerable amount of money became a huge amount for the working class: in the second half of 2017, Lao Jiang's account had a floating profit of more than 10 million.

In 2018, the virtual currency market peaked and turned into a bear market. At this time, Lao Jiang chose to sell his stocks and cash in. "It can be said that I became rich overnight, and I also had the confidence to resign."In the first round of gambling, Lao Jiang won before he could even recover. 

In less than 2 years, Lao Jiang achieved financial freedom. His interest in digital currency is growing day by day.

"(After withdrawing cash) I still pay attention to the digital currency market. After a year of decline, many coins have fallen by more than 90%, and even returned to zero and ran away." When the market fell into panic, Lao Jiang felt that "it had fallen enough, so I invested again."

In the currency circle, Lao Jiang experienced getting rich quickly, but also saw a lot of huge losses. "Whether virtual currency has value, everyone has different opinions. In the early days, it was mainly speculation. Later, as more people knew about it, a consensus was reached." Lao Jiang said that his strategy is "basically holding after buying." He said, "Too much concern about price fluctuations will make it difficult to invest."

"Naturally trust." In addition to price, it is Lao Jiang's belief in technology. "The Internet is the flow of information, and digital currency is the flow of value. "He said that after the absurdity, blockchain and digital currency may have a positive impact on society in the dimension of decades, just like the wild Internet.

Lao Jiang believes that it is a good thing for the state to take action to rectify. There are too many chaos in the currency circle, and many people have gone astray. "Now the market rise has attracted many people to join the currency circle, and everyone has become less rational." Lao Jiang used "crazy greed" to describe this wave of enthusiasm, especially the surge in Dogecoin and Shib, which has further catalyzed the growth of chaos.

"What attracts young people should be the digital attributes of virtual currency, and young people are more willing to accept and try such things." Lao Jiang said. But in fact, driven by the pressure of life, young people dream of getting rich overnight and are eager to achieve class transition.

"The interest in making money" occupies the whole mind. In the frenzy of the market, everyone wants to get a piece of the pie, but they don't know that the sickle of cutting leeks has been swung down.

"Many newbies who have no investment ability think that it is easy to speculate in the currency circle because they see someone getting rich by speculating in coins, so they rush in to grab money, and they are likely to become leeks. "Lao Jiang judged.

Lao Jiang's advice: work hard, wealth is more of a matter of luck

Facing cryptocurrency speculation, Lao Jiang always remains vigilant. "From stock speculation to cryptocurrency speculation, I have more than ten years of experience and have a certain ability in investment.Not everyone is suitable for investment. Don't think that you can get rich overnight by speculating in cryptocurrencies. The market risk is much higher than that of stock speculation. If you add a leveraged contract, the funds can even be wiped out very quickly. "Lao Jiang warned.

After making a profit from speculating in cryptocurrencies, Lao Jiang has a deeper understanding of the risks. "I don't recommend people around me to speculate in cryptocurrencies because I understand how high the risk is." Even though he has achieved financial freedom, he still attributes this wealth to luck.

"I have heard a lot of rumors about young people getting rich overnight in the market, but not many, mainly due to good luck." He said that there are more leeks in the market.

"Work hard and do your job well." This is Lao Jiang's advice to young people who are about to enter the cryptocurrency circle.

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