In 2016, my company collapsed. In the end, I was left with only 50,000 yuan, feeling like the sky had fallen. I sat in front of the computer for several days, and with a determined heart, I exchanged all that money for Bitcoin, which was about 6,000 each at the time. That feeling was like betting my life on it; there was no turning back.
In 2017, the market went crazy, Bitcoin was skyrocketing, and the numbers in my account surged to 800,000. I couldn't sleep all night, really felt like I was about to turn my life around. But what happened? In 2018, the winter came, the market value suddenly dropped by more than half, and my account was almost back to square one. I spent the whole night smoking, and one thought remained in my mind: no matter how beautiful the numbers on the screen are, if they don't go into the wallet, they are all虚的. Floating profit? That's just an illusion.
After that time, it seems I woke up. Around 2020, I completely stopped playing the game of chasing highs and cutting losses. I began to calm down, research mining, and delve into DeFi, which requires patience and skill. The approach changed, and my mindset stabilized. Just like that, after a few more years, my account finally stood firm and reached that number. Others are always curious about what 'magical operations' helped me make money; my answer is: to survive in this industry, it has never relied on guessing correctly once, but rather on whether you can adhere to a few rules earned through real money.
First, life is more important than anything else; here 'life' refers to your principal. I remember there was a time when various small coins were flying around, and I also followed the trend to buy one. After it rose by 50%, I immediately withdrew all the initial investment, leaving the remaining profits to float. Later, that coin dropped by more than 90%, but because I had already recovered my principal, I still had a small profit. You can gamble with your profits, but the principal must be your bottom line. Once the bottom line is gone, the game is truly over.
Second, only take what you truly understand. If you can't understand the white paper and are confused by the economic model, then it has nothing to do with you no matter how lively it is. Earning money within your cognitive understanding is being responsible; money outside your understanding, if you gain it today, you must pay it back double tomorrow. Just like six months before the Layer2 concept became popular, I dared to invest heavily because I had grasped the ins and outs of a certain elastic sidechain project in advance, and eventually reaped a large portion of the dividends. Code you can’t understand is like a stranger's wallet; no matter how good it is, don’t touch it.
Third, don’t always think about buying at the lowest point; arranging your positions is the real skill. My strategy is simple: the majority is always in Bitcoin and Ethereum, as they are the ballast; then I allocate a portion to several tested mainstream public chains; and finally, I leave a small portion to explore potentially new directions; lastly, I must have liquid cash on hand. For individual projects, I absolutely do not exceed a certain percentage in my position. It’s relying on this hard rule that during the toughest times, my overall drawdown has been very limited.
Now the market has started to fluctuate again. The leading coins have dropped significantly from their highs, and many small to medium market cap projects have fallen hard. What I want to say is that the real winners are not those who shout the loudest in a bull market, but those who can restrain themselves in times of frenzy and dare to accumulate chips in quiet times. Use rules to cope with cycles, rather than being led by emotions.
I’m Daji, I don’t play games, I only talk about practical stuff and logic. If you also want to navigate this cycle more steadily, feel free to follow. The road is long, and let’s stay clear-headed together. #YZiLabs领投RoboForce #比特币升回7万 $ETH
