The first time was after I earned my life’s first million yuan. Back then, I was always thinking about making quick money. I traded futures contracts frequently, and in just a couple of months I ended up losing more than 800,000 yuan. After that, I was left with only a few hundred thousand yuan. Looking back now, the moment I made my first bucket of gold, I started thinking that making money slowly was too slow. I mistakenly believed I could always rely on high leverage to rapidly replicate returns. After that, I truly quit high-leverage futures contracts. Even if I use them sometimes, it’s only as a hedging tool. The second time was on that day in 1011. At the time, I pledged 2,000 BNB to borrow and lend stablecoins for interest. On one side, I thought I could benefit from BNB going up; on the other side, I took the funds out to manage money in U. As long as it dropped 60%, it wouldn’t liquidate. In the end, I was taking risks at a level like “dealing with white powder,” to chase profits at a level like “making back sugar.”
This morning, several friends messaged me asking how I was doing.
Just now, I tallied the situation across a few accounts—I’d drawn down by roughly 10 million RMB, which is the biggest drawdown I’ve had in these years. The good thing is that I’ve kept insisting on not using leverage the whole time; everything has been spot trading. I was able to control my hands and didn’t make the wrong decisions out of emotion.
At 8 a.m., I went home from the KTV and went to sleep. I woke up at 7:30 p.m., worked out for an hour and a half, finished writing this article, and now I’m getting ready to go out for dinner.
Over the next two days, I’ll use Codex to go over again the investment and growth experiences from these years—so that I can let the judgments, successes, and failures in my head sink in. I’ll rebuild my investment knowledge base and decision-making system.
If I lose some money, then I’ll treat it as tuition. Cao Cao went through 16 major defeats and 6 times when he was almost killed. Liu Bang fought and lost again and again—until the last time he won, defeating Xiang Yu and taking the land. At 47, he watched dogs fight; at 55, he rose to claim the world. A true man should be like that—one shouldn’t give up on life just because of a single win or loss.
Losing in battle isn’t the scariest thing. What really counts as losing is when people’s hearts get thrown into chaos. Keep the drive and spirit of youth, and keep moving forward.
If the spring breeze has pity for the flowers, may you grant me to be young once more—so I don’t waste a single moment of my youth. I’ll keep pushing forward; one day I will cross countless hardships, and one day I will become the winner!
The main line of AI hardware is continuing to sink deeper.
The first layer is the model, representing application demand. The second layer is GPUs, representing the entry point for computing power. The third layer is storage, representing computing efficiency. Below that are packaging, servers, energy, and data centers.
NVIDIA is cashing in on the value at the GPU layer, while Micron is capitalizing on the storage layer's value.
GPUs don’t operate in isolation; model parameters, training data, and inference requests all need rapid reading, transmission, and caching. Without robust HBM, DRAM, and NAND, even the strongest GPU can get bottlenecked by data throughput.
Micron's logic hinges on estimating the underlying hardware value driven by the expansion of AI computing power.
Clients are starting to sign five-year long-term orders, and storage has transitioned from ordinary components to strategic resources. In the AI era, the most expensive part isn't just the chip itself, but the underlying hardware supply chain that keeps the chips running efficiently.
NVIDIA is the AI computing engine, and $MU is the high-speed ammo depot for this engine.
In life, you'll face many rainy days—like the rain from a failed exam, the rain from losing a job, or the rain from a messy trade. When these storms hit you hard, everyone tends to panic and make rash decisions. Why not embrace these rains, accept their chill, and acknowledge that they’ll drench your clothes? Take a leisurely stroll; the rain won't last forever, and with each rainy day, you'll become more composed and stronger.
A project that has risen by 100x has been labeled as a malicious pump; what about those projects that have continuously declined, or even gone directly to zero? What about those projects that took the money and did nothing, slowly soft-dumping through pre-sales and points? Why is no one holding them accountable?
At least the pump provided a result for the market; regardless of whether you held on, it was an open opportunity
But the real issue lies on the other side
Those projects that take money under the guise of pre-sales, points, and airdrops, but do not deliver, do not fulfill, and do not advance, are the ones that are continuously overdrawn market trust
Ignoring the projects that take money and do nothing is the real problem in the market.
Build on build, the last meeting of 2025 has ended. In a year, I flew 30 times, visited 6 countries and 16 airports. During the New Year, I allowed myself to sleep in for an extra half hour. Today, I was very touched by the words @CZ : Success does not require extraordinary wisdom. It also involves principles, values, emotional intelligence, and so on. Luck plays a significant role as well. For most people, the only thing they can do is change themselves. If you can persevere for thirty years and have some luck, you are likely to achieve considerable success.
Ever since Binance launched gold ($XAU ) and silver ($XAG ),
gold has increased by nearly 24% and silver by nearly 52%.
Since gold was launched on Binance, its market value has increased by 8.4 trillion USD. Since silver was launched on Binance, its market value has increased by 3.2 trillion USD.
You cannot verify its authenticity without damaging the metal.
Hmm, buying coins has always been a horse racing logic.
I usually buy into 5 projects in one round, with $20,000 for each project, calculating the remaining 4 projects as zero at most losing $80,000. For example, I bought river at around $3, and now it is roughly valued at 17 times, totaling $340,000. Although I didn't hold onto all of it completely in between, the overall investment of $100,000 plus the profit from river has already resulted in a quite objective trading outcome.
The funding background for this round $RIVER is a bit strong, first with Old Black and Brother Sun investing $8 million into the market (everyone knows Brother Sun can't possibly lose money!), followed by a batch of VCs continuing to finance at this level, bringing in cash financing in the tens of millions of dollars, with an incredibly strong capital intensity. The market value has now reached $4.6 billion.
From the trend structure, river's current state is somewhat similar to when Sui completed the chip exchange in OTC and then concentrated on pushing the price. It is said that the washout yesterday saw the control ratio jump from 80% to 99%.
This round of river's Kol Agency is managed by @Cipher_Dance, and many Kols are saying this is a god-tier Kol round because basically everyone has made money (except for the prophet hedging). This part may actually be one of the few potential sources of selling pressure in the current market (Tintin wants to hedge at $15, and I said if she wants to short, she should just say what reason she is looking for).
Binance Important Announcement: The Binance Futures Trading Platform will launch USDⓈ Margin ACUUSDT and I'm Coming USDT perpetual contracts (2026-01-21)
Jia Guolong should come to Binance Square to scold
Kaito has ended, just now Binance Square rewarded 1 BNB for the article by Enheng. The best thing is to come to Binance Square
Binance Square is equivalent to a new place. As long as you have good opinions, you will have traffic, making it convenient for everyone to be a KOL. If not doing Binance Square in 26 years, in 27 years, I’ll have to cry under the covers.
Everyone, please pay attention to my Binance Square
Thank you very much to the two leaders @Cy_Binance Ying Ge for the substantial support to the creators of Binance Square, and also thank you @Yi He for providing such a great platform.
币安广场
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The winners were announced on January 16th, who will receive the prize tomorrow? @黑哥BTC @Pickle Cat @阿冷HODL @厂长布林带之神 @Enheng
Binance Research Report: 2025 Industry Observations and 2026 Outlook for the Future (A must-read for beginners, the password is within)
Combining Binance Research's review of 2025 and outlook for 2026, one can actually see a very clear change; #BNB is no longer just a platform token but is gradually evolving into a core node connecting institutional capital and hundreds of millions of users through the actual growth of BNBChain and Binance's global compliance process. This change is first reflected in the real usage data of BNBChain. The growth of BNBChain in 2025 is not driven by a single star application, but rather a stable cycle formed by trading behavior on the chain. The daily trading volume has long maintained at tens of millions, with DEX trading volume increasing by over 160% throughout the year, where retail trading centered around Pancake, meme (fourmeme, Flap), perpsDEX (Aster), and prediction markets (Opinion), Defi (ListaDao, Venus) collectively form a continuously operating on-chain economic engine. This indicates that user behavior has already solidified on-chain.
$BNB days since the last destruction, a total of 81 days, total destruction value 1.277 billion USD
Average daily destruction 15.77 million USD, average per minute destruction 10,950 USD
Corresponding to BNB, average daily destruction 16,936 BNB, average per minute destruction 11.76 BNB
Among them, the Siyuan wallet added 462 BNB worth 43wu, also sent to the black hole for destruction
No wonder Dashibage @CZ didn't care about the gifts yesterday, because BNB is being destroyed at a rate of 10,000 USD per minute, meaning 600,000 USD was destroyed in that one hour of live broadcast