Quoting my uncle's story, I would like to advise everyone not to be greedy and not to touch small currencies.

In February 2021, my assets through multi-year contracts exceeded eight figures. This was known to my uncle, who is a person who likes to think about things. He is an electrician. Although he has a low degree, he is good at thinking about things. People around him also think that he is a smart person and often makes money in various strange ways.

My uncle learned from my dad that my assets had skyrocketed exponentially, and he immediately felt that the cryptocurrency world was profitable. One morning, after my uncle briefly talked to me about the cryptocurrency world, I suggested that he wait and see and not rush into the market, and even if he did, he should not be greedy and buy junk coins. But after more than an hour of thinking, he started buying coins in the afternoon (without any technical knowledge). He said his goal was to help his son earn money for a car worth about 100,000 yuan, and he would leave the market immediately after earning it.

Double your assets in 2 weeks by playing contracts

He deposited 20,000 RMB and started to invest in the contract market. After two weeks, his assets successfully reached 40,000 RMB. During this period, he told me his research experience and his views on investing in the cryptocurrency circle almost every day.

Assets increased 7 times in 1.5 months

After a month and a half, he told me that his assets had increased by 14 times. Naturally, he was inflated, because I basically only bought mainstream coins such as BTC and ETH, and I didn't touch them for several years after buying them, but he achieved a 7-fold return in just over a month, so he thought that there was something wrong with my investment philosophy, and that in just a few months, his investment return rate would reach the multiples of my hoarding coins for several years, or even exceed mine.

The profit in the third month exceeded 12 times

By the third month, he started to speculate in junk coins (various unknown small currencies). At that time, his assets were around 250,000. At this time, he had begun to expand infinitely because he thought I was too new and stopped communicating with me.

40% profit loss in the 8th month

My uncle contacted me again five months later. He said he lost a lot of money because of the liquidation. Several unknown currencies he bought also plummeted. Now he has less than 150,000 left. He felt useless and thought my idea of ​​holding a light position in mainstream currencies was better. I said you are already very good. You have achieved your original purpose of buying a 100,000 yuan car. You can stop now and wait for the big bear market to come back and buy Bitcoin and Ethereum. He said okay, and then we lost contact again.

Lost everything in the 15th month

The next time we spoke was 7 months later, when Luna crashed in May 2022. My uncle took the only 60,000 yuan he had left and rushed into Luna, hoping to get rich overnight, but ended up burying himself. Luna's death spiral directly reduced his assets to zero in one day.

Summary: When a person is greedy and has no self-control, the end he can reach is bound to be a dead end. In the heart of a crazy gambler, the unwillingness after losing the principal, everything will force you to slowly move towards a dead end. #美国大选如何影响加密产业？ #BTC☀ #加密市场反弹 $BTC