In the nearly 7 years since I entered the industry, none of my friends have made any money, even those who entered the market in 2015 or 2016.

The reason is very realistic. Half of them became addicted to contracts and became gamblers. In the end, they lost everything or even went bankrupt and were burdened with huge debts.

The other half can't stand the various stories and new tricks in the cryptocurrency circle, and rushes to various empty and dog-like things, or believes in the value investment analysis of those great gods, and in the end, none of them are trapped...

I agree with 9 God’s two conclusions:

1. The price of altcoins can increase tenfold or even a hundredfold, which often makes us want to buy them. This is a very irrational impulse, but we often find it difficult to resist.

2. People are naturally immune to gambling. Even though they know it is a zero-sum or negative-sum game, they often can't help but go ALL IN. Many people have lost their fortunes because of this.

If you don’t have the risk tolerance, don’t get involved in the cryptocurrency world.

If you don't have any self-control, don't touch the contract.

Without a good mindset, don't pray to get rich overnight.

If you go all in, use high leverage, and don’t set stop loss or take profit, you will be scared to death even if you play China’s A-shares.

I have been in the cryptocurrency circle for many years, and I have too many "friends" who have been in the cryptocurrency circle for more than 3 years. Of course, most of them are just work partners. As the saying goes, the cryptocurrency circle is permanent, but the leeks are changing.

I have seen many people lose their fortunes overnight due to liquidation, and many people have been jailed for promoting air coins. Of course, there are also people who have become rich overnight by seizing the big market and have a luxury villa facing the sea. However, more friends in the cryptocurrency circle are still struggling to pay off their loans. This is the true portrayal of the industry's "80/20 rule" in life.

So I basically don’t play with contracts. It’s too easy to go back to zero. Even well-disciplined traders can easily get their positions wiped out by scammers and be unable to get out of it safely, let alone most ordinary people?

I have been trading in cryptocurrencies for so many years, but I have never brought anyone around me into the crypto circle. When I first entered the circle, a colleague knew that I was trading cryptocurrencies and wanted me to bring him in, but I refused. Now he wants me to bring him in, but I still refuse. My wife wanted me to bring my brother-in-law in to play with money, but I refused. I don't understand everyone's personality, and human nature cannot be overcome. Once the gambling nature comes, I am really afraid that the people I bring in will lose everything, and there will always be consequences.

Friends often ask me what coins to buy and what I recommend, but I don’t know how to answer them. Bitcoin and Ethereum go up and down, and there is no coin that will always rise. There are too many black swans. Although there are cycles, many coins only have one bull market. I can only say that for Bitcoin and Ethereum, holding it for a longer time and hoarding coins has the lowest risk. Although the cycle is long, you can still make money.

I have finished writing it, and this is why I don’t bring people around me into the cryptocurrency world.