There are several types of people who embark on the path of trading:
1. Those with innate talent, born to be trading prodigies, have developed their own systems through long-term experience in this market and subconscious summarization.
This group can be further divided into those with innate talent and learning ability; those with innate talent but no learning ability, represented by Liang Xi.
2. Those without innate talent, the majority belong to this category.
This group is also divided into those without innate talent but with learning ability, and those without innate talent and without learning ability.
Which type of person will achieve great success: those with innate talent and learning ability. Well-known figures in the trading world generally belong to this category. For example, Cucumber Cat @0xPickleCati , who can read "Human Behavior" and leverages learning ability.
Those with innate talent but no learning ability can only rise when they realize the importance of learning ability; otherwise, they may be brutally beaten by those without innate talent but with strong learning ability. For instance, Eagle Now can brutally beat Liang Xi.
Those without innate talent and without learning ability serve as sustenance on the path of the three strong figures mentioned above. They are usually referred to as leeks, endlessly providing support from exchanges to various major infrastructures.
Want to know how everyone gets through their low points?
I am currently heavily in debt, with elderly parents above and young children below.
Yesterday I couldn't even afford to top up my phone bill with over 100, and this morning I took 100 pocket money from my child and sold 10u (the last funds from the exchange) just to top up my phone bill.
I remember years ago when I worked at a state-owned enterprise, I had several thousand in my housing fund, and today I went to the housing fund center to withdraw it. It can pay off part of my mortgage.
Look at this brother who sold ten thousand at a low price in 2017, $BNB , which is now worth 8.5 million dollars.
He shows us through action that the biggest advantage of knowing early is the low cost, but whether you can become wealthy is another question.
Cash flow, does it allow you to exceed your survival costs, so you won't have to use your chips due to minor issues in life;
Logical judgment, how do you view the development of the cryptocurrency market, the development of exchanges, the level and vision of the founders? This determines whether you have clear logic and can hold on;
Patience, can you patiently wait for that moment of 2+2=5-1 for 8 years?
So many people saying "if only I had known... it would be great, now... how much profit" really doesn't help much.
It's not that knowing early isn't important; the most powerful aspect of knowing early is that you might have the opportunity to acquire low-cost chips.
Cash flow, logical judgment, and patience are the three key factors that determine whether you can make money.
Liang Xi's lifelong enemy, the little hero has already bought a house in Shenzhen.
From not being able to afford meals, stealing Snickers from supermarkets; to taking out a loan of 60 million, buying luxury homes worth over 100 million in total.
His true rise was through reselling game cards from a certain platform, making a profit of over a million, which allowed him to surpass his living costs.
To say he has trading ability, or that his trading is impressive, is indeed an understatement; he himself admits this. The real money he made was from earning commissions in the cryptocurrency circle and managing to retain that wealth.
Note: The house has several functions: essential needs, education, investment, sentiment. Personally, I believe he bought this house more for sentiment, which is very expensive. It would be better to go all in on $BNB ; in the next bull market, he could at least buy two houses, still paying in full.
He is called "Old Blue Head" and is originally from Sichuan. In 2017, he crazily created 1500 accounts during the ICO, and the opening price of BNB dropped to 0.6, supplementing 8 million to raise the average price.
He holds a total of 26 million BNB!
During this period, he sold 20,000 BNB to buy a Honda Accord. (Currently, this Accord is worth 17 million USD)
What does it feel like to buy 2 million RMB for 2 million pieces of $BNB ?
His name is "Beifang". In June 2017, he went on a business trip to Shanghai and met his idol Zhao Changpeng while preparing to set up an exchange. Without looking at the white paper, he decided on the spot to invest 200 RMB and obtained 2 million BNB.
In August of the same year, the trading market was in turmoil, and he heard news from big players: there would soon be a crackdown on the ICO market in China.
Beifang decided to sell all of his BNB to cash out! He made tens of millions!
At that time, he was very happy, but 8 years later, the 8-digit profit became his biggest ridicule: 2 million BNB was worth 1.7 billion USD.
The essence of memes and contracts is trading, or speculation.
Gambling, trading/speculation, and investing are three different paths in the dark forest of the cryptocurrency world.
These three paths are not completely independent; sometimes they intersect, leading you down different roads.
But I have only seen speculation or investment succeed; gambling ultimately leads to exiting this market.
Ordinary people are not qualified to talk about investing; your only opportunity is speculation.
Investing and speculation must be completely different technological trees.
Speculation: technical analysis, psychological building, capital/risk management Investment: the core is understanding the industry, the project, and the people
Or to put it another way, with 10u, what do you use to invest?
You are about to become wealthy if you know what Zhao Changpeng's first book is called.
Right now, the entire on-chain cryptocurrency community is focused on this matter. If you have not played on-chain, I'll say one thing and you'll understand:
Imagine you buy a cryptocurrency worth 100,000, and ten minutes later, that cryptocurrency's market value reaches 200 million.
You only need 100 dollars, and you could potentially gain 200,000 in profit. This is not a boast; it's a fact that is about to happen.
What is the name of the first book of Big Brother @CZ ? Several versions are currently circulating.
1. Directly called #币安人生 , I think this possibility is unlikely; this name is too pretentious.
2. Awakening Behind High Walls, this name clearly suggests someone who has experienced a sewing machine. And the entire book has over 300 pages and more than 90,000 words; it is obviously a memoir, with the sewing machine experience being just a part of it.
3. A Bumpy Journey, derived from a tweet he posted a few days ago.
4. My Life in the Crypto World, I feel this name is somewhat narrow and does not reflect the goals his memoir aims to achieve.
Or maybe we are overthinking it; let's just call it 'Zhao Changpeng's Autobiography.'
If you really can't wait to read his book, feel free to check out my memoir as an ordinary person, 'Rebirth: My Time as a Warrior at Binance.'