Why are most people in the cryptocurrency world not suitable for contracts?
Quoting my uncle's deeds, I advise everyone not to touch contracts or small currencies. In February 2021, my assets exceeded eight figures after hoarding coins for several years. My uncle knew about this. My uncle 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 mother that my assets have skyrocketed exponentially, and he immediately felt that the cryptocurrency world was profitable. One morning, after my uncle had a brief chat with me about the cryptocurrency world, I suggested that he wait and see and don't rush to buy coins. Even if he enters the market, he must not touch leverage and junk coins. But after more than an hour of thinking, he started buying coins in the afternoon (without understanding the technology at all). He said that his goal was to help his son earn money for a car of about 100,000 yuan, and leave the market immediately after earning it. In 2 weeks, he doubled his assets by playing contracts and deposited 20,000 RMB. Then he started to use 10x leverage in the contract market. After 2 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, and called on me to play contracts. Assets doubled 7 times in 1 and a half months. After a month and a half (2021.4), he told me that his assets reached 140,000, and the income in the third month exceeded 12 times. In the third month (2021.5), he not only played 50x leverage, but also started to speculate on 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 bad and stopped communicating with me. In the 8th month, the profit was 40%. When my uncle came to me again, it was 5 months later (2021.10). He said that he lost a lot of money because of the liquidation, and several unknown currencies he bought also plummeted. Now there are less than 150,000 left. He feels useless and still thinks that my idea of hoarding coins is better. I said you were already very good, but in the 15th month, you lost everything. The next time I spoke was 7 months later, when Luna crashed in May 2022. My uncle rushed into Luna with the only 60,000 yuan he had left, hoping for a sudden fortune, but ended up burying himself. Luna's death spiral directly reduced his assets to zero in one day.
