From 3 million U to zero, he said that he only bought BTC and ETH after that

Editor's Note: This article comes fromHot Wheels Community (ID: FHBT18), Author: Pepe, reproduced by Odaily with authorization.

Editor's Note: This article comes from

Hot Wheels Community (ID: FHBT18)

Hot Wheels Community (ID: FHBT18)

, Author: Pepe, reproduced by Odaily with authorization.

Hello everyone, I'm Pepe, and this market is getting more and more. . I don't know if it's interesting, or if it's getting more and more confusing.

Everyone’s recent focus is on grayscale, but it can be said that the grayscale fund also bought a lot of eth, all of which were bought in thousands of pieces, but so far the big pie has broken a new high, and quickly rebounded to a high level after the callback. Even the greed index broke 90 twice, and our big ether is far from the previous high this year, comrades still need to work hard.

There is another one that I am afraid that only the old leeks will talk about one or two, and there is no sense of existence in the new leeks. It is the "originator of air coins" that will definitely be replaced by uni\aave - Litecoin, which has also joined this year For the Grayscale luxury package, the open interest has also been increasing.

However, its trust fund is much more ups and downs than Bit-Ether. I think ltc is trading sideways today, and the benchmark LTCN has fallen by 41% in two hours. .

I don’t know what happened, it’s hard to see such a scene even in small currencies.

So you said that Grayscale buys coins, can you figure it out, anyway, I can’t. . It's just that such a hidden corner is not mentioned much by the media.

Well, back to the topic, on a slightly quiet Monday, I would like to share a crypto money loss story from an overseas community:

Although we have been in the upward cycle for more than half a year, the argument generally believes that now is the beginning of a bull market, and it is necessary to prepare for a rainy day. I don't think it is necessary to repeat it.

The protagonist of this story is an anonymous person, let's call him Old A.

The story of Old A began more than 3 years ago. At that time, his career was hit. He hoped to divert his attention, so he chose to enter the field of encryption trading. The first investment was Ethereum. In November 2016, it was only more than 8 dollars. (See below).

In 2017, 80% of the borrowed 12U was invested in NEO and 20% in OMG.

Taking advantage of the high position, he exchanged the small ants in his hand for BTC. He later recalled that he should have earned about 100 BTC from this transaction.

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Just during the Spring Festival this year, the market went well, and old A mortgaged all his remaining btc and eth, hoping to meet good luck again.

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However, what was waiting for him was the 3.12 flash crash. This part of the funds was all liquidated, and the old A also left the market for a rest, until he felt the popularity of DeFi, and invested part of the funds in DeFi coins and mining at the end of August. .

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Everyone can guess what kind of ending this is. According to old A's estimation, he may have 50,000 to 75,000 US dollars left.

But this is no different from zeroing, because he still owes about 100,000 US dollars in taxes and fees. This is a pitfall for overseas encryption transactions. Taxes and fees are calculated based on annual profits, and the few remaining assets of old A cannot be covered. of.

At the end of this story, old A said that he would only play eth and btc in the future, and not touch anything else!

At the same time, he hopes that the bull market will come as soon as possible, so that he can pay off his debts as soon as possible. Regarding the sharing of experience in the past few years, he also hopes to remind everyone that getting rich quickly without developing good investment habits is not a good thing.

In fact, there are quite a lot of such stories at home and abroad. At the end of this article, I will no longer talk about not using leverage, or relying on luck to earn money and relying on strength to lose money.

A few points:

1. There is a platform mentioned in the story - nexo, which has been very popular overseas in the past two years. It is also like a wallet application in form. Users can deposit various assets to earn interest, and the other side can also mortgage loans.

There is also leverage in defi. Many people feel that the exchange rate is not high now, and it seems to be dominated by spot, but don’t ignore it. There are other leverage scenarios. When large fluctuations occur, their liquidation will also affect the market. make an impact.

So it does not mean that if we have institutions with large funds, everything will be different. No matter how large the funds are, they cannot do without human decision-making.

2. It seems that every time I go to Dabing to perform alone, more voices start to say that I will only enter btc from now on. I don’t know if everyone is saying that, but the body is very honest. Will shuttle all kinds of small coins, haha.

But not only today’s story, but also from the discussions of many investors and traders in the market, it can also be found that many people are still replacing various coins in their hands with bitcoin and ether.