A user took a photo of his cat, turned it into an NFT named 'CryptoKitty,' and sold it for $100,000. The cat is still alive, eating canned food at home every day. Its owner says, 'It's worth more than I am.'
For ordinary people, 10 million should be enough. Choose a good living environment in a provincial capital city, without squeezing into the city center, a house of 4 million, a car of 500,000, 5 million in savings, and a few hundred thousand in liquid funds, and make steady investments in the cryptocurrency circle. Such a life should not be too bad.
He used a middleman for private-sale investments. The middleman took heavy commissions, making his token cost far above original price. The project crashed on listing, wiping out most of his principal.
My friend found out that the 1,000 Shib coins he bought on a certain platform in August 2020 were worth 20 million, and now he tells me that they are worth 80 million.
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Fed rate cuts are bullish for crypto-but for future crypto, not the present moment.
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IDO mania swept the market. He chased allocations and poured large capital in. The project crashed on listing, causing heavy principal losses.
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Set firm boundaries for your wealth. The financial world is full of traps. Boundaries are like walls that block covetousness and risk. If you cannot reject improper requests or stick to your rules, your wealth will get eroded by personal relationships. The wealthy set gentle yet firm wealth boundaries. Keep personal sentiments separate from interests. Blurred wealth boundaries are where fortune leaks away.
You still have to make 1 million and then 10 million to change your life class. This process is very hard, you must eliminate all distractions and concentrate. You can't miss any opportunity of capital pool, any concept. For example, if you invest 10-100 yuan in the early stage of Shuzang, you can do it. Go wherever there is money.
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What is taught in textbooks is nonsense. The great philanthropist Huang Shiren only charged 12.5% interest on loans, although not as kind as the great villain Liu Wencai. The reason why official loans of 24% are now allowed is because China is now a data prison; where can you escape to?
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Crypto projects end in one of two ways: become infrastructure, or go to zero.
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Using money to buy goods is easy; exchanging goods back into money is difficult. Even the world s top salespeople cannot easily exchange goods for money the way money can buy goods.
What do those who make money in the cryptocurrency circle do? They travel the world with lofty ambitions, and travel freely through mountains and rivers. They become the contemporary Xu Xiake, and have low-profile massages in clubs every two or three days, and eat and drink lavishly. I seem to see that the pig king has eighty golden pig pens and married more than two hundred pig wives, and he is inseparable from the nature of pigs. The cold cryptocurrency scientists and programmers are still calm. They know that they can get huge numbers by just moving their fingers, and they are numb, because their job is to type code every day. On the contrary, the wealth stimulation brought by this coding is more enjoyable. Otherwise, how could Binance boss CZ surpass Li Ka-shing, Jack Ma, and Ma Huateng in four years? Because he was born as a programmer and can sit on the bench, no wonder he is the richest man in New China, and he is not tempted by wealth. If you want to pick up girls, your cognition must be higher than that of girls. If you want to make money and become the richest man, your cognition must be higher than that of the former richest man.
Averaging-down on losing positions drags you deeper into the abyss. A flawed position never improves simply by injecting more capital; you only magnify overall risk exposure.
People who do not know how to cherish and plan their time are making the worst investment in the world.
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He held large coin holdings with paper-value of tens of millions, yet could not tell family or friends. He feared being asked for loans or being targeted. Wealth brought heavy psychological pressure.
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