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Amber Group, a leading Hong Kong-based crypto finance platform announced it has hired Chiachih Wu as a Blockchain Security Specialist. Wu brings years of information security experience having worked as a security researcher across blockchain, mobile security and virtualization security industries.
Wu held positions at Intel Corporation as well as at Chinese internet company Qihoo 360 Technology Co. Ltd as a Senior Security Researcher. In 2018, Wu co-founded a blockchain security firm.
At Amber Group, Wu will be helping the company enhance its security infrastructure as the company continues expand to new geographies. Since its founding in Hong Kong, Amber Group now has a presence in Taipei, Seoul and Vancouver. Its Global X Center initiative will further expand the list in the coming months by developing localized strategies and offerings.
Last year, Amber launched the Amber App, a mobile crypto finance app for retail users. Within a span of 5 months, the app gained over 80,000 registered users and over $390 million in assets. The Amber App offers institutional-grade service with a suite of market-leading interest rate products, yield enhancement and risk management tools all within a secure mobile infrastructure. Recently, it also introduced Yield Boost, a new yield enhancement offering for users to monetize their market view on major crypto assets and earn competitive rates.
Amber Group now works with 500 institutional clients and an increasing number of retail users in over 80 countries. To date, the company has traded over $33 billion, with over $1 billion in assets under management. It is backed by leading venture firms in the crypto industry including Paradigm, Pantera, Polychain Capital, Dragonfly Capital, Blockchain.com, Fenbushi Capital and Coinbase Ventures.
The original title: “My 60-year salary is the most when I am floating!” Is Amber heaven or hell? Who is the wealth given to 1.33 million times the income in 12 years? Watch 5 coin speculators confess
One day of amber, one year on earth.
7×24 global uninterrupted trading, no price limit, fluctuations of thousands of dollars at every turn, abundant leveraged tools such as futures and options, uneven trading levels of participants, unregulated trading, proliferation of insider trading, hype and black Mouth and follow the trend endlessly. Twelve years after the birth of BTC, the price of the currency has gone from 3 cents to the current highest of 40,000 US dollars. With negation, controversy, and suppression, it has created a rise of 1.33 million times.
The other side of the story is the endless risk of being amplified under the decentralized trading model. On the night of 312, 2020, Bitcoin plummeted from $7,900 to $3,600, a drop of more than 50%, and the contract liquidated over 14 billion yuan. And this is just the tip of the iceberg where wealth is shattered.
Even in the bull market, large-scale liquidation is also staged from time to time. On January 9th, after BTC fell below US$40,000/unit in the early morning, it frequently staged skyrocketing and slumping. On the evening of the 10th, it plummeted in a cliff-like manner. It plunged several times to nearly one thousand US dollars and pulled up several times. In the early morning of January 11, the price of Bitcoin plunged again by more than 12%, as low as $33,447, which is equivalent to a sharp drop of nearly $6,000 in one day, a 24-hour drop of more than 20%, 200,000 people liquidated their positions, and the amount of liquidated positions reached 13.7 billion.
After more than three years of pulling at the 10,000 U.S. dollar point, BTC has launched a magnificent bull market at the end of 2020. The current price of 40,000 U.S. dollars is more than twice the previous wave of new highs. Many troops have raised “to the With the banner of “moon”, the Air Force has not given up its stubborn resistance, dragging friction all the way, and BTC oscillating all the way to new highs.
However, among various exchange groups, the bustling “leeks” in the past are “quiet”, and the atmosphere has not yet become lively. A contract platform operator described it like this: BTC has been sold early, and now I dare not buy it, holding a hand of altcoins does not rise, and those who have gone empty have been empty.
This is a sleepless Shura market. There are giant whales like “Grayscale” holding hundreds of billions of dollars calling for wind and rain, and there are also “New Leeks” with a small bet of 100 yuan “ant warehouse” eager to try; most of them are piled up code and write programs day and night. The “brick-moving party” of high-frequency trading is not lacking in the “money-making party” that bucks the trend and invests to recharge their beliefs; some get rich overnight, some are waiting to get back their money, and some are gambled to lose their lives.
They meet in this market, fight each other, and write a very different ending.
Today, we cast our sights on these traders through the invisible market. There are professional traders with rich investment experience, exchange operators, the founder of Amber Quantitative Fund, Amber KOL, and blockchain. VC investors, as well as retail investors who are struggling in the market, may see you and me in their stories.
Third brother | Trying again is not rational, but a bet
28-year-old professional trader, 3 years of currency speculation
The 28-year-old third brother is known as “Returning Assistant” in Amber. He started trading stocks at the age of 14 and trading coins at the age of 25. He grasped both hands with both hands and has rich trading experience. In the introduction on Weibo, he said that he is a Buddhist analyst and only teaches techniques and not orders. He also built a personal knowledge planet with a group of fans of his own, known as the “bankruptcy group”.
The third brother talked about his experience in Amber these years.
As a professional trader, at the beginning of 2018, he faced a very real problem. A shares entered a long journey and had to find another opportunity to make a living. I was willing to open a new track and I happened to meet a college classmate who was Amber KOL. Then the two hit it off and rented a studio together and started to formally enter the Amber business.
Amber was also relatively sluggish at that time. Bitcoin fell from $20,000 to $6,000. I watched the market for a few days and found that the stock analysis tools are also applicable to Amber, and it even felt like a dimensionality reduction. Although Amber is in a gray area, various futures options and other tools are abundant and can be shorted. Moreover, BTC is a strong trend market, no matter whether it rises or falls, once the trend is formed, it will be difficult to end in the short term.
The first time I made money was in April 2018, and the rising market lasted for more than a month. The first transaction was to buy BTC at US$6,500 and EOS at US$4.2. It went from US$6,500 to US$9,200 to take profit. The first investment made about a year’s living expenses and officially established a long-term life in Amber Confidence in development.
Due to the lack of reference in Amber, I am purely technical analysis. I use the twist theory. I have been exposed to other theories, but all have their limitations. The twist theory is more like a system than a pure technical analysis. I should also be one of the first to apply the theory of winding to Amber. Of course, Amber has its own scope of adaptation. I combined my trading experience and made an adaptive modification based on the original theory, and even wrote it as a teaching assistant. During the transaction, I also tried other mainstream currencies, such as EOS, XRP, ETH, etc. However, with the improvement of transaction awareness, I will only do BTC later.
In terms of trading style, I mainly focus on spot trend trading, and supplement contract trading. The purpose of contract trading is to earn coins instead of earning excess profits. Spot trends hold. The advantage of this strategy is that it has strong stability. Once the trend is established, it will be a worry-free state for a long time. The disadvantage is that it may face repeated stop losses when encountering shocks.
There have been 2 painful mistakes in these years.
The first time was at the end of 2018. BTC dropped from US$6,000 to US$3,200 within a week, which was almost half-cut. At that time, I was right to fall and I shorted at the $5800 point. However, I did not expect to fall so strongly, at 4800. The U.S. dollar flattened out and began to try to buy bottoms, and the result was as low as $3,200.
This time I lost about half of my principal in the process of continuous bargaining. This is the first painful lesson, telling me not to bargain hunting. This incident has a great influence on my trading style in the later period. As a result, I basically don’t make bottom-out moves and trade on the right side honestly.
The second thing is to do XRP in 2019. One night, BTC fell from US$13,900 to US$9,800. My XRP contract position was liquidated overnight. In fact, the contract leverage is only 5X, but I still can’t hold more than 20 mainstream coins. The point plunged. After this incident, I never touched any non-mainstream contracts again, and I focused on BTC ever since. Because only by being familiar with a variety can you know its ups and downs. A person’s energy is limited, so doing a good variety is more important than having more flowers.
Let’s talk about a more thrilling case of bargaining. Because of the first point I mentioned above, I basically won’t make bargains, but there is one exception, that is the night of 312 Bitcoin “suicide” in 2020. I did a bottom hunt that night, but the first copy was $7,800, and a few minutes later, only $5,800 was left. So I made a second dip and only $3,800 was left the next day.
I calculated that my cost was around US$6,500. As a result, there was only US$3,800 left in BTC. In fact, my heart was extremely tormented. At this time, I chose to unplug the network cable to calm down for a day and delete the trading APP. Later, after a week of suffering, the price of the currency went back again. Of course, in the middle, I also kept brushing the contract to reduce costs. At that time, I thought about the worst plan, which is to not make money in 2020.
The reason why I did not continue to buy bottoms but chose to pull the network cable was because my risk control standards did not allow me to try a third time. Trying again is not rational, but a bet. In fact, I didn’t want to continue to buy the bottom at that time, and there was also a fear in it. After all, global risk assets were plummeting at that time, and when the end was still far away, so I was ready to invest this little money, and I was ready to take the plunge.
So, it’s actually not easy to get it from that time to now. I also reduced my position twice in the middle. The first time I reduced my position was around 13,000 USD, the second time was around 19,000 USD, and the amount of BTC in my hand is only March’s. About 40%, the rest can be obtained now. I think it is impossible to get it without a brain death.
Now I will use the winding theory to determine the buying and selling points and the frequency of opening orders is maintained at about 15-20 orders a month. The income in 2020 is about 10 times. Another part of my income is paid by members of Knowledge Planet, because the income of traders is non-linear and there is no fixed salary. Knowledge payment is a very stable method. Although the proportion is not high, the price is stable.
Another vision is to cultivate some excellent amber traders. I hope to cultivate a group of talents with excellent psychological quality and technical standards. After 3 years of training, I have indeed seen a group of traders who can stand alone, have their own operating system and do not exceed the rules.
I still advise all young people that Bitcoin is a high-risk asset and must use less leverage and more cash.
Ding Dong | People who have stepped in the air have been in the air, relying on position and mentality to control
COO of a contract trading platform, 5 years of trading experience
In 2016, after I resigned from Alipay, I accidentally came into contact with Bitcoin, so I tried it out with 6000 yuan. The life of a programmer is relatively monotonous, that is, every month he goes to work to get his salary, and he gets a bonus at the end of the year. The bonus may be tens of thousands of yuan at a time, and it is nothing to lose 6,000 yuan. At that time, I didn’t read the disk and didn’t understand the technical indicators. Two months later, I found that 6000 became 30000, which felt amazing.
At that time, there were bitcoins and altcoins in a mess. After earning 30,000 yuan, I bought some randomly. After a few months of lying down, it became 300,000 yuan.
In 2017, ICO was very hot. I still don’t understand. I bought it in a silly way. I also did some spot leverage. By the end of 2017, it had a floating profit of more than 7 million at the highest point. Later, I sold it when the Great Falls fell to more than 5 million. It’s lost, and it’s less than 2 million, which is still very distressing.
2018 and 2019 are basically bear markets, and I am basically paddling. In 2018, I started to study technical indicators, transaction data, etc. At that time, unlike the current platforms, there are indicators such as big data, long-short ratio, and capital rate. Because I used to be a programmer, I like to delve into it, and I found some rules. In October 2018, I made a contract with another friend. Later, I felt too tired to watch the market every day. So I wrote a tool to help us watch and analyze the market. For example, which point did not exist before the liquidation, and what point. How many shots have been exploded, where are there orders, etc.?
After we made this, we found that many people can use it. At the end of 2018, we started to make firm offers. From October 2018 to April 2019, we found that there was too much work to do, so we went out to look for investment, and then we opened a company as a contract platform.
But in this process, I am still quite confused about trading. In 2016, 2017, I made money by luck, but I didn’t make money after learning a lot of technology in 2018 and 2019. I started to reflect at this time, and now I conclude that trading is more dependent on mentality, and has little to do with technology and strategy. When you are indifferent to the ups and downs, you may make the most.
What is more impressed is that on the night of 312 in 2020, I opened a hedge policy at the $9100-8900 point, and did not lose money in the crash. At that time there were also bargain hunters, but they couldn’t hold it later. In fact, I have observed that no one can hold it. It has risen from more than US$3,000 to more than US$6,000. When I want to go short, I will inevitably be liquidated.
My earnings this year outperformed the BTC growth rate, but it can only be said to be average. Because now is a bull market, too many people earn more.
I feel that I have not yet started in trading, and I am more accurate in judging trends. One may be because I have not been trading for a long time and my mentality is not mature enough. Second, it may be because I am good at math and I am more imaginative. I am more sensitive to numbers. Sometimes people think that the price is beyond expectations when it reaches a certain point. I am not likely to be disturbed by these.
At the beginning of the coin speculation, I didn’t know the skills and I could make money. Later, I learned a lot of technology, but I didn’t make much money. Now I go back to my roots and rely on imagination, basically avoid talking about technology, live by thinking, and control by position and mentality.
It may be a little false to say that everyone has a different mentality, some are more radical, and like to bet big. The advantage of this is that if you do a market right, you will make a lot of money, but you will lose a lot of money if you make a mistake. . I used to be a programmer and I was relatively conservative. Once you have entered your own money-making market, it is easy to stop profit and don’t want to bear the risk of callback losses, which is not conducive to getting rich.
So I am now thinking that there is nothing wrong with being conservative, but sometimes, such as this kind of bull market, it is necessary to treat part of the profit as unprofitable. I think it is more valuable to gamble. I think it is these things that need to be fixed in my mind.
How to look at the current market, this is the place to be combined with mentality. When BTC broke through 20,000 at the end of December, it was already a new high, but I found that many people sold it at 8,000 USD. Even if it’s the so-called “coin-tuning party”, of course I never think that the “coin-tuning party” or the “coin-speculating party” is higher or lower. Many people I know who can hold it all sold it for 16,000 dollars. For BTC, whether it is the boss of the mine, the boss of the company, or the so-called “big family”, the slightly higher ones are sold at $19,000.
I feel that people who have sold BTC for more than $16,000 will not buy it at $24,000. It is basically this mentality: I want to step back on 20,000 and a few hundred to buy again, because I am afraid that it will fall after 24,000. So after the BTC price reached 24,000 US dollars, many people still went short, so BTC broke through 30,000 US dollars in one breath, and then this wave of people still went short.
Then many people said that they wanted to wait until the callback reached 26000 before buying. At that time, BTC did step back a bit. But in terms of technical form, each decline in the past would fluctuate for a few days, but this time it was different. It quickly rose and continued to new highs, so many people have been vacant until now. It was sold for $16,000, and when it came to $35,000 or even $40,000, half of it could not be bought. This is a very real situation.
It’s cruel to think about it. Bitcoin worth more than ten thousand dollars was just a month ago. I want to ask me what I think. First, the short-term trend of BTC. To be honest, I don’t know. I think any technical analysis is nonsense. It doesn’t make much sense for the dealer to harvest a wave of “multi-army” or “air force”. Wouldn’t it be good for people to pull more than 100,000 and then smash it? But you said that it is possible that more than 40,000 can fall to 20,000 or 30,000. So I think the certainty of BTC now is that people with less than 20,000 chips will not be sold if they are killed, and those with less than 20,000 can only cry. This is the status quo of the bull market.
Why did it rise? I don’t know. Why did you say the house price is rising? There is no point in analyzing what institutions are bulls and gray bulls. If you have not bought BTC, it is useless to say these. Many people analyze a lot of truths. When you ask him if he has BTC, he says no. What’s the point of this? Many people say that BTC can rise to $200,000 each, so why don’t you dare to buy it now? This kind of analysis is the same as entertainment news, not helpful.
There is another interesting thing. In the past, every time Bitcoin reached more than 8,000 US dollars, discussions in various groups were very active. Now it is more than 30,000, and it is still not active. Why? Because most people are out of their way. In the bear market, for every US$1,000 increase, the technical party has tried all kinds of analysis and thought it was so powerful. The bull market is coming, most people sell it at $16,000, and then the price of Bitcoin is $5,000. What else is there to say?
BTC was sold early, and now I dare not buy it, and I am not going to rise with a hand of altcoins. There is no use for all the technology.
The current contract market has not been more active, and many people are afraid to place orders. Because the amplitude of several thousand dollars is very frequent now, it is normal that there is no sound in the market now. The market is sometimes like metaphysics. Let’s put it this way. If the price of BTC can be calculated, why is it that when it rises to more than 20,000, most people are looking at the correction rather than the new high. If you can make money by reasoning, everyone makes money.
But now the market style is still different from before. It used to be at least two callbacks after the sharp rise. Now it has risen directly. A needle may be inserted, but it will rise quickly. It hardly gives you the opportunity to get on the car again.
Big Bitcoin player | Most “analysts” are very watery
Amber KOL, ETH contract real rate of return 11.570.96%
Four years of amber trading experience, three years of contract trading experience, No.1 contract yield. The real trading time of ETH on the digital currency contract trading platform is 542 days, and the total return rate is as high as 11570.96%. He talked about how to build his own trading system in 4 years, starting from 5,000 yuan.
I have been doing contract trading for three years, and I usually communicate with fans on my Weibo. After I have gained a certain reputation in the industry, I have accumulated many loyal fans. They will often ask me questions about the transaction and when will it open? single? What should I do if I fall? Can you chase empty? What to do if it goes up? Can you catch up? If the point is not reached, can you reduce the point requirement…
At this time, I will always ask a rhetorical question, on what basis did you open this order? Most of the answers received were that the analyst said that there would be big fluctuations and the points were given, or I felt that it was going up, I felt that it was going down, etc.
These problems are more common. I think I need to remind newbies not to be fooled. The old man in Amber knows that most of the analysts are very watery, and they are eating customer losses under the banner of bringing orders. That is to say, the more you lose, the more he earns. Sometimes some analysts will not open the list themselves, so listen less to those people and only lose money with them, so everyone should keep their eyes open and improve themselves. Do not trust others credulously.
Before each transaction, you must first ask yourself three questions: First, think about the reason for each open order? Second, do you often encounter losses from profitable orders? Third, do you often carry orders to liquidation without knowing what to do? These three problems are unavoidable problems for all trading people. Coin lovers have encountered them more or less. All of them come here, especially novices, who are very blind. The essence is that they have not established a mature trading thinking and trading system.
What is a trading system? It is the self-methodology of trading, opening, closing, adding, lightening, taking profit and stopping loss, which is its own set of rules. The most direct benefit of having such a system is that all of your orders have evidence to follow, which greatly reduces the chance of making mistakes and the amount of loss. The second is that you don’t need to watch the market in real time. When you strictly follow the system, you have a bottom line of your goals and losses, and you can achieve that no matter how the market fluctuates, you will be stable.
How to build your own trading system? The most important thing is to have a good mentality. Amber is a market that can be traded 24 hours a day. The market is treacherous and fluctuates greatly. You need to have a strong psychological quality when trading. A person’s operating habits, psychological endurance, strategy execution ability, and ability to overcome greed and fear, and various ability indexes determine that each person’s trading system is different for him.
I have summarized for a long time that an excellent system must contain the following characteristics:
First, the frequency of opening orders cannot be too high. There are too many people in Amber who are eager to get rich, and feel that they will lose their lust for a thousand knives without billing. In fact, the order is based on the market, and not based on time. Blindly opening an order when there is no quotation is only a loss. There are too many opportunities for Amber, but most of them are not what you can catch. No one can eat every fluctuation. “Waiting” is the key. Learn to wait, seize your own opportunities, reduce the frequency of your stop-loss orders, and your returns will naturally increase significantly.
Second, overcome greed. Greed is the most taboo thing for currency speculation. Especially when trading contracts, the market fluctuates every day. If there is a rise, there will be a fall. I have seen too many people. The doubling of the order caused losses and even liquidation because of greed.
Third, strictly stop profit and stop loss. This is the most important operation for contracting, and it is also an important reason why I personally can achieve the highest rate of return of 11570.96%. Every time you analyze the market and open an order, think about the position of the stop-profit and stop-loss, especially the position of the stop-loss, and calculate the profit-loss ratio is not worth doing this list. Set these two positions when you think it is possible. No matter how the market fluctuates, you will be as stable as the mountain. The stop loss position is strictly for the stop loss, the principal is retained, and the profit is stopped in batches to lock the profit.
Fourth, do a good job of position control for open orders. Why do position control? It can be understood by simply calculating a single account. Open a single order to earn 20%, a single loss of 20%, an accuracy rate of 50%, and a cycle of 40 times can reduce your assets by half. If you count the handling fee, the result is sure It is the return of assets. So we must do a good job of position control, fixed principal is a good choice, profit withdrawal is a good habit, because the withdrawal is really yours, staying on the exchange is a floating profit.
Fifth, summary of practice and review. When you have learned to control your own mentality, positions, funds and K-line operation techniques, you still lack the most critical and indispensable part of building your own system, which is to practice and review the summary. Practice leads to true knowledge, and replay can make progress.
In order to reopen every order and every week, notes and firm offers can help everyone to retake and summarize, to enrich their reasons for opening orders, and to improve the point of stop-loss and stop-loss.
The trading system is not achieved overnight, but must be summarized in the practice of continuous billing. No one is born to understand K-line and understand the contract. They are all summarized and learned in constant exploration, and who has not lost money. Over the tuition. The important thing is not to pay the tuition in vain, to learn from the list of failures, and to learn from the list of failures. Next time, the same market will naturally know what to do and what to do.
Amin|My 60-year salary was when I got the most profit
35 years old, maintenance worker, 7 years of currency speculation
I started speculating coins at the end of 2013. At that time, I read a report saying that BTC has risen to 400 yuan, so I went to study it. The first time I bought a domestic altcoin that was well-known at the time, I didn’t dare to buy it. I only recharged 100 yuan and bought 10 yuan. The result was a tenfold increase in three days. I withdrew it through Alipay. . Later, I kept buying and selling in small amounts until Bitcoin broke through 7000 yuan for the first time.
At that time, I recharged 10,000 yuan and took a full position. This is about my salary for 3 months. I bought RXP, which was 0.4 yuan. In the end, it fell so badly that I didn’t dare to look at it. At the lowest point, it was a few hundred yuan, but the meat has not been cut. Because I am not willing. The 10,000 yuan has become several hundred, and it doesn’t make any sense to sell it, so it lasted until 2017.
2017 was a big bull market. From May to July, XRP rose to 2 yuan, and I sold a total of 30,000 yuan. This time, my wife strongly asked me to sell it. If you wait until December of that year to sell, you can sell more than 500,000. This experience of selling flying planes also laid a hidden danger for me to not cash in the high points in the future.
At the peak of the market in 2013, the central bank introduced restrictions, which caused the BTC to plummet. I am unforgettable. Therefore, when the market was extremely hot in June and July 2017, I felt that if BTC reached a new high, there would be policies to suppress it, so this time I have been waiting and want to wait for the price to drop before buying.
It now seems that my thinking is right, but what is more embarrassing is that on September 3, I finally couldn’t help but buy a part. Then on September 4th, the central bank and other seven ministries issued documents covering ICOs across the board, and the currency price plummeted.
I didn’t have much money at that time, but in September and October, I bought a total of about 20,000 yuan in coins, EOS and Loopring. In mid-October, my daughter-in-law and I did a common job, and she finally agreed to put out a portion of the money for investment. This time, she gave me 100,000 yuan, and my mother returned 30,000 yuan. After September 2017, ICO prevailed. I invested 130,000 in seven ICO projects, and then caught up with the magnificent bull market. In December, the highest point was 1.8 million.
I was too self-confident at the beginning, and there was a feeling that I was the protagonist. Just like in the talk show, I felt that God had chosen me and I felt confused. My salary was only 3,000 yuan a month, and 1.8 million is equivalent to my 60-year income. But thinking about it now, I was so stupid at the time that I didn’t even cash out. In February 2018, Bitcoin fell sharply, but I felt that it could rise even more. I was greedy and did not cash out.
Throughout February, BTC has been falling and falling. I have about 400,000 to 600,000 assets left. I don’t have any cash in my hand. I am very anxious. Then suddenly one of the ICO projects skyrocketed against the trend and I hurriedly seized the opportunity and sold it. Sold 170 thousand. Later, wicc’s ICO invested another 100,000, and the remaining 70,000, I added another 30,000 in, pooled 100,000 to invest in a project, and then the project became stale, and the 100,000 yuan was also lost.
Later, during the second increase in Bitcoin, wicc brought me ten times faster income. In the end, I insisted on selling 300,000, of which 200,000 was exchanged for cash, and the other 100,000 was exchanged for Bitcoin. In fact, I originally wanted to sell half of 500,000, or sold them all. But my daughter-in-law refused, and I was also shaken, thinking that I could rise even higher. Looking back now, I was greedy at the time.
The 200,000 cashed out I paid the down payment to buy a house, and the other tens of thousands were randomly invested in ICOs. This was a matter of 2018. Now it seems that I didn’t get anything from the amber game, but it gave me courage. I never thought about buying a house before, but when I had money, I bought it.
Time entered the beginning of 2019, and BTC reached an all-time low, as did my altcoin. In May 2019, BTC rose a lot. I sold all the coins to USDT, the total value was about 350,000 yuan.
I think it will happen again in 2013, that is, Bitcoin plummeted under the pressure of policy, so I have been waiting for a short position, making a small band in the middle, winning each other, and by October, 350,000 became 300,000. At the end of October of that year, the news came out that the Politburo meeting collectively learned about the blockchain. Bitcoin rose sharply, which also changed my belief. So I bought the whole warehouse at the price of 10,000 US dollars, and kept carrying 300,000. At the lowest point, only 180,000 remained. Later, until January 2020, when Bitcoin was sold for $8,250, the total was 220,000.
During that time, there was a strange problem. I was crazy about listening to various investment and financial advice courses and exposed to leverage. At that time, there was a new concept, “Three times leveraged coins will never break out”, I was moved. During the same period, the price of Bitcoin was around US$10,000. I didn’t dare to buy it. I wanted to wait until it fell. So the whole position bought a three times leveraged currency. But then, Binance even delisted the leveraged coin. Before delisting, all leveraged coins were forcibly settled at the market price at the time and settled at $700.
I was not reconciled. I charged 35,000 yuan as a short position without telling my wife, and lost 20,000 yuan. When I came out, I completely calmed down for half a year. I restarted this month and just made 20,000 yuan to 35,000-40000 yuan.
Starting from 312 in 2020, my beliefs have been changed. I used to be a pure bull, but now I am appropriately bearish. But I guess I will still be educated.
In addition, there is an Easter egg. Loopring bought in 2017 participated in the long-term lock-up program. It was just taken out on January 4 this year and sold for 90,000 yuan. Unexpectedly, if I sell it now, I can sell it for 150,000, and I feel so depressed. Now, I’m standing at a crossroads again. Should the money continue to play, or should I use it to subsidize my family? Because now my total funds have exceeded 100,000, and I still have a monthly salary of 3,000.
After so many years, I feel that Amber fluctuated too sharply, and it hit the faith too much. Objectively speaking, my luck is better, but my strength is weaker, and the money I earn by luck has lost with my strength. But I still want to try it and see if I can get rich once. Of course, you must not be in debt or affect your life. After all, life is the most important thing.
My heart is too divided now. Today I want to earn 1 million. Tomorrow, I think it’s better not to lose money. I used to be more or less inferior, but now I don’t. I have the courage to laugh at myself. Let’s study more, I’m just an ordinary person, but occasionally get better luck.
Micheal | Buying coins while mining, desperate at first
25 years old, block chain worker, 4 years of speculation
I graduated with a bachelor’s degree in 2017 and worked in a technology company. At that time, my leader dug up a lot of Bitcoin through mining around 2015. However, he felt that it was difficult to say whether BTC was valuable. They sold it very early, but he was very I was optimistic about the blockchain technology, so I started researching it, and then I found this technology very interesting. I thought that BTC should also have investment value, so I bought some. At that time, there were a lot of altcoins, and I bought several in a mess.
At the end of 2017, it was a big bull market. With the deepening of research, I became more and more interested in blockchain. In 2018, I jumped to the most well-known amber technology company at the time, but as the market turned bearish, I also lost money. More money. Because BTC is a strong trending market, it is difficult to make money in a bear market. I am considered a bull market. My thinking is a bull market thinking and it is difficult to switch. So when the market trend starts to change, I will still buy bottoms. Was buried. 80% of the money made at the end of 2017 was lost.
At that time, I didn’t have much money when I started working. My principal was only four to five thousand yuan, and I made seven to eighty thousand yuan at the most, but I lost five to sixty thousand yuan in the following year. Actually, it hit me. Great, especially a blow to confidence in investment. Because I have only experienced an upward cycle, and have not experienced a downward cycle, I have covered my position and continued to fall, neither buying nor selling, falling into doubt in life.
The biggest problem with investment is that I don’t know the bottom line. Although I was very optimistic about Bitcoin at the time, it did not have a value support. The stock was supported by a company, but BTC did not. During that time, I didn’t know much about Bitcoin, and I didn’t know the support for it, so I was really panicked at that time. This was the main reason for losing money.
After 312, I didn’t lose money and didn’t make money. At that time, it fell to more than 3,000 and there was a rebound. I looked at the indicator and felt that I had to step on it again. I hung up at US$2,670 and went to do other things. Later, when I looked at it again, it was more than US$5,000. No deal. I felt that it was going to go back up, so I started to open a contract and basically lost all the money I made from the short wave that fell.
Later, the price comparison began to fluctuate upwards. I think there may be a big correction, so I opened short again. Then the currency price quickly rose from 5,000 US dollars to 8,000 US dollars. When I saw that it was not working, I bought 1/3 of the spot spot.
Also in May and June, I started mining. At that time, the mining machine was very cheap. The latest mining machine from Bitmain was only 20,000 yuan each, so I bought three of them because I couldn’t control it without mining. I always wanted to trade, and it was easy to lose money.
8000 bought Bitcoin and then bought a mining machine. I was worried at the beginning, because at the price at the time, mining would take 500 days to pay back. At that time, the currency price was US$8000, but the output had been halved. I just feel that the mining income is stable, and I believe that the price of Bitcoin will rise.
In September, defi became popular in the circle. Although I didn’t get it at first, I still need to study it. But watching others make money, I felt itchy, so I followed another wave of operations and lost another 30,000 to 40,000, no zuo no die, and I started to concentrate on studying again.
At that time, I had dozens of Ethereum in my hand, because after that wave of hotspots passed, it started to fall from US$400, and I sold it when it fell to US$350. Although I bought some more later, I had dozens of them at that time, and I only bought a few in the end. I originally wanted to buy it back if I fell, but I didn’t give me a chance, and the price continued to skyrocket. In a few months, the price has tripled. If I don’t sell it, I can make at least a hundred thousand more. Now I think my mentality has collapsed and I regret it.
My current position has half Bitcoin and half USDT. I’m waiting now. If I can fall, I will increase the position. As long as I know its value, it doesn’t matter if I fall down. I have to believe that this thing can rise back. And if you judge a certain period, you can actually hold it. In a bull market, we must accumulate currency-based wealth. For example, this year’s goal is to save 10 bitcoins. In fact, it only costs more than US$3,000 in a bear market, which is not too much. But if you believe it has value, 10 bitcoins are now $350,000. Just like value investing in the stock market, do what you can understand and look for its long-term value.
I chatted with an investment boss before, and he told me that investment must have a goal, not to invest blindly, and to go to this goal to know how to trade. The trading method of earning 10 times and earning 10 times is different, and the trading method of earning 3 times and earning 3 times is different.
Although there are similarities in the concept of value investing, I think stocks are different from Bitcoin. If you must compare, I think Bitcoin is equivalent to an index, such as the S&P 500. A company may have some personalized reasons. For example, if the CEO has a problem, the stock price will fall sharply, but I think the biggest value of Bitcoin is that a single event has little effect on its price because it is already very decentralized. This is the decentralized thing, the biggest benefit of reaching consensus.
The gray scale did not go to work these days, and the sudden sharp drop in the market caused Amber to panic. The market has been mercilessly smashed. In the past few days, the contract has exploded for more than 10 billion. This is also the largest amount of liquidation. And many people in Amber are discussing that it is precisely because Grayscale did not go to work, which gave the Air Force a perfect opportunity to attack, maybe so.
But overall, there are not many currencies that are closely related to Grayscale, and Bitcoin and Ethereum account for a large proportion. There are not many other currencies that have grayscale increase. However, when the market fell, the entire Amber was in turmoil and collectively dived. This has nothing to do with the gray scale, and it is mostly controlled by the dominant player.
After the market crash, a tweet from Grayscale gave the Amber market a bit of confidence, and the time for bargaining has arrived! These simple words have been forced and interpreted by various fans. Some say that Grayscale is the culprit, and some say that Grayscale quickly find someone to buy the bottom. On the other hand, Gray’s CEO Barry was straightforward and sent 2 tweets. One sentence was “Time is up, and the other is a hunter!”
Whether it’s true or not, this is from the official Twitter account anyway, and it also has a certain influence. In the past few days when the gray scale is not working, many people in the circle feel uncomfortable. It seems that Amber can’t play with the gray scale. This is a bit interesting.
How long did everyone have a soft spot for grayscale? However, the performance of Grayscale in the past few months is really impressive. Not to mention the unlimited increase in Bitcoin, it is still calling for orders. It is indeed indispensable for their colleagues to learn about Bitcoin, and a lot of publicity and promotion as a foreshadowing, so that the general public in Europe and the United States can also learn about Bitcoin.
A single institution has such a powerful force, and there are many institutions like Grayscale on Wall Street that have not yet awakened. Of course, some have already stood up for Bitcoin, and some are subtly promoting Bitcoin. These are all ongoing thing. And the gray scale is real gold and silver configuration Bitcoin, currently holding 534115 Bitcoin, this number is still increasing.
But a big drop made Amber think of the good gray scale as a whole. Is this very representative? Perhaps when the spectators are used to the gray scale, it becomes very complicated. With the gray scale blessing, there is nothing to say. When they pushed up Bitcoin, they also made a lot of contributions to Amber. And once this push is lost, what will happen?
No one knows this, but now is the gray time! They should continue to come out to show and operate, and continue to let more people know about Bitcoin, which is also Humber’s current Dinghai Shenzhen. Work in grayscale, buy and buy. This is no longer a secret. Even the Air Force will find the right moment to do things, which shows that the leader behind it also knows that Grayscale will not be easily stopped buying and buying.
At present, Grayscale holding currencies have also increased. Only four currencies were configured in the early stage. Now there are nine types of allocations. It also shows that Grayscale prefers not only Bitcoin and Ethereum, but also other mainstream currencies. Was favored. But the grapefruit was not selected, which is very strange.
The status quo of the market is very delicate. Some people think that it will fall, or at least it will be cut in half. Some people think that with the gray-scale blessing, it will rise and break through, and 20000 dollars are just around the corner. None of this is a problem. Speculation can also be accepted, but just don’t be driven by market sentiment, or you will become passive.
The market is always happy when you are accustomed to the gray scale increase. However, there will be both ups and downs. This is the complete market. Once there is a tilt, there will always be a period of time to repair. If it rises too much, it will be called back, and if it falls too much, it will rise. This is Amber, and it is not surprising.
Of course, most people like to rise, keep rising, and rise to new heights. But this also needs real money to promote. When Amber’s market value continues to increase, the subsequent funds needed will become more and more huge. So where does the funds come from? You can’t just rely on the institutions. They are not loving angels. They will always look for others. Source of funding.
These actual situations have already emerged, and ordinary people in Europe and the United States have begun to increase amber, which is a steady flow of funds. So no matter how Amber walks, the result will be upwards. Before that, you must make sure that you are not scared out of chips. The rest is left to the time, there is nothing to worry about.
In the future, Grayscale will continue to purchase Bitcoin and other currencies. Do you have those currencies in your hands?
Vientiane original article, the above content is for reference only and does not constitute investment advice.
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Original author: Sean Stein Smith
Translator: Katie Gu
Cryptocurrency prices will continue to maintain steady growth in the second half of 2020. In the face of ongoing global political and economic instability, some people say that this has been regarded as a soaring price. This is indeed good news for cryptocurrency investors and those who have always believed that cryptocurrencies will be in a long-term bull market. But price growth may also be just a bubble, with unintended consequences.
Before we begin to speculate about the meaning behind the growth of cryptocurrency prices, we need to understand the earth-shaking changes that have taken place in the cryptocurrency world since 2017. With the burst of the Bitcoin price bubble at the end of 2017, the blockchain and encrypted asset industry began to conform to market demand and develop several alternative products with a truly decentralized and distributed nature of Bitcoin. Stablecoins, DeFi, DAOs, and central bank currencies (CBDCs) are just a few of the blockchain applications that have emerged in the so-called cold winter of cryptocurrencies.
The cryptocurrency winter may really be coming to an end, or it may be over, but what does the continuously increasing price mean for the medium and long-term development of crypto assets? Let’s watch it together.
Cryptocurrency prices are highly volatile
First, when the price of cryptocurrency continues to grow, the interest of outsiders in using cryptocurrency as an alternative to fiat currency may decline. Simply put, when outsiders see price growth and liquidity in the cryptocurrency market, their confidence in accepting these financial instruments as a medium of exchange may be shaken. The development of stablecoins is to solve the problem of price liquidity, market price fluctuations arise, and stable encrypted assets have emerged.
Bitcoin may not be as volatile as other financial instruments. But after all, Bitcoin is also one of the financial tools, which still worries many consumers and potential users.
Stablecoins will be on top
The rise of stablecoins and market valuation should not be ignored. Don’t underestimate it because it is not a “real” cryptocurrency. Stablecoins are an important “bridge” between cryptocurrency enthusiasts and a large number of outsiders. The ability to reduce price volatility, the nature of transactions or the ability to redeem related assets, and the recent OCC certification (currency audit) regulatory measures on these assets have highlighted the feasibility of stable currencies.
Cryptocurrency use cases
After all, cryptocurrency is a tool developed in response to market development. It can be concluded that the development of the cryptocurrency field will be similar to other financial instruments. When talking about stablecoins and central bank currencies, it is obvious that these changes have already begun. To put it simply, the future of cryptocurrency may no longer be a “winner takes all” situation, but more depends on the use cases in differentiated markets.
Large-scale landing is coming
Discussions around the blockchain and cryptocurrency are constantly going on on various issues of individuals and national institutions, so the wider implementation of the blockchain is just around the corner. Although tokenized fiat currencies are also in the development process, they are not “real” cryptocurrencies because they are still issued and managed by the central government or central bank. Cryptocurrency fanatics may see the long-awaited large-scale landing scene, but it may not be the form of decentralization like Bitcoin.
Just like any other business or agreement, compromise and application are required, and decentralized cryptocurrency will always be an important role.
Cryptocurrency security will be the top priority
The future development of finance and payment will be greatly affected by blockchain and encrypted assets, and the regulatory framework needs to keep up. In particular, even if stablecoins and other cryptocurrencies are widely accepted, the need for security tools, other anti-theft mechanisms, and unethical behavior will be important topics of discussion. In September 2020, the OCC (Currency Audit) and the US Securities and Exchange Commission (SEC) have already taken action on this. To solve the existing problems, stricter certificates and perfect policies are necessary.
Bitcoin is still the hottest cryptocurrency, any fluctuations can set off a huge wave in the market, which also continues to attract individuals and institutions to start paying attention to crypto assets. In order to fully develop and improve, all parties must recognize the impact of continued price fluctuations on the cryptocurrency industry.
Up to now, price fluctuations and cryptocurrencies have continued to occupy the top of the financial hot topics list, but the possible impact is broader, far beyond the scope of short-term transactions. In the face of price fluctuations, assessing the status of cryptocurrency is a choice that every interested organization or cryptocurrency investor should make when the industry continues to accelerate and mature.
Original title: Amber stool once in a hundred years
Bitcoin is more than 15,000 dollars, and it is close to 20,000 dollars before the previous round. The magic is that on March 12 six months ago, it reached more than 3,000 dollars. At that time, I thought that Amber was finished and the bull market would never Here comes, all the efforts made in the past three years have been in vain, and now, Bitcoin is about to break new highs soon. Global asset releases, turmoil in various countries, and technology and financial companies seeking to preserve their assets, Bitcoin is undoubtedly the general trend of this era. The arrival of the new high point will not be too long, as short as a few weeks, and as long as a few months.
Bitcoin represents the vested interests who have obtained wealth accumulation through Bitcoin in the past 7 years. And the people who gained huge wealth through altcoins in the last bull market, they were very smart, and they all switched to Bitcoin in the end, and then they barely touched altcoins. Some people even shuffle the history of playing altcoins in the past and become pseudo-bitcoin maximalists, but when the time comes to make money, they still obediently engage in altcoins to earn a vote.
I understand them, when a person accumulates wealth, he will tend to seek stability. Just hold Bitcoin, there is no need to play altcoins. No one can escape this law. If you think you will not, suppose that one day after your wealth is free, you will be really fragrant.
This is the era of cryptocurrency belonging to Bitcoin, and this is also the era of cryptocurrency belonging to altcoins. You have to admit that 99.9% of all Amber’s industrial chains, communities, media, institutions, exchanges, and project parties are around the theme of altcoins. Whether you look down on altcoins or not, and whether you have a prejudice against them, altcoins really exist.
The fragmentation of amber has been around for a long time, but now it is getting worse. People who play Bitcoin don’t understand why some people play altcoins because they are too poor. People who play altcoins don’t understand why some people only play Bitcoin because they are too rich. Never expect people in this circle to understand each other.
I am by no means the altcoin maximalist. I will still hold Bitcoin when I should hold Bitcoin. I will always maintain an agnostic attitude, stay curious and fresh about all new things in Amber, and strive to achieve relative justice and objective. It’s just that I want to say that everyone should still clearly recognize the deepest desires in their hearts.
Those who want to preserve the value of their assets, and those who have no desire for the so-called rich and rich, just hold Bitcoin. Not everyone has a strong desire to get rich. Small funds want to turn over, want to accumulate the first pot of gold, want to obtain wealth freedom, then you must not escape altcoins. Whether you end up with bankruptcy due to altcoins, or because of altcoins getting rich. However, according to my experience, the former are mostly bankrupt. In three years in the industry, I have experienced too many cases of falling into the abyss because of altcoins.
Many people say that Bitcoin is about to break new highs and the bull market is coming. This is a once-in-a-century change in Amber. In fact, it is very exaggerated, because so far, Amber has only a short life of less than 8 years. However, once in a century sounds much better.
But to me, it’s actually an amber stool once in a hundred years. It is the altcoin that many people look down on, Shitcoin, shit coin, and poop coin. I desperately need to use altcoins to overtake a corner.
If you want to work hard now, this circle will not give you too much time, at most two years. Within two years, Amber will complete a further reshuffle, de-retailization, beautification, financialization, and class consolidation, and become another financial world parallel to traditional finance. At that time, it was useless to just try to stand up. And now, you should feel fortunate that for Amber’s amateurs and disadvantaged groups, effort is still relatively proportional to the money earned.
At most two years, working hard and playing hard, there are still some opportunities. Understand your inner core demands, and then do what you should do, nothing more.
The amber stool that has happened once in a hundred years, I really look forward to it anyway.
One year spent similar, each year is different. This sentence can’t describe Amber more appropriately. New projects continue to be produced, and the milk kings and nurses are constantly changing.
When it comes to the milk king, Kyle can’t be bypassed. Presumably Kyle is also the best-known milk king in the past two or three years. The heyday of Kyle’s milk power, I think, was from 18 to 19 years. At that time, the market was big, and the institutional media projects all fell into depression. Only Kyle was full of milk power. Everyone loves and recognizes.
So who was the typical milk king before Kyle? I think Linda Xie should be well deserved. I have written several articles about her and 0x before. In short, as the wife of 0x founder Warren and the title of the first generation product manager of Coinbase, I am working on the 0x project.
At the same time, she also contributed a number of popular science articles about BTC/ETH/ZRX/TEZOS during that period, which was a classic reading for players who were initially involved in amber. Thinking about it now is incredible. At that time, I would read a piece of English from the beginning to the end. Now, it is either waiting for the chain to hear the Chinese translation, or the central idea of the speed article.
Thinking about it carefully, that was also three or four years ago. At that time, when Linda Xie was in the limelight, Scalar Capital had not yet been established. Perhaps there is no institutional identity yet, so milk coins were still quite free and easy at the time. It gives people the feeling of being close to the people and without airs.
The 0x project can also be included in the annals of amber history. Now that Uniswap has received flowers and applause, I want to give compliments to the 0x team. As the pioneer and originator of DEX, I put forward the idea of tokenizing everything three years ago. And now it continues to move forward, launching Matcha aggregator products.
0x is the memory of a generation of amber people. It is Coinbase’s first generation of gangster coins. At that time, Coinbase was not called a gangster. At that time, the effect of Coinbase’s listing of altcoins was still very strong. At that time, Linda Xie would personally call for orders.
And after 17 years of Daniel, Linda Xie gradually became low-key, no longer tweeting orders, and the content of tweets was not painful or itchy, rather reserved and held. Maybe it’s financial freedom, maybe it’s not too much attention to Amber, so far I have milked three coins: ETH/NEAR/GHST. Of course, it is also a very reserved milk, no longer the heroic beauty of the milk coin.
However, the torrent of history is rolling forward. When Linda Xie, the nanny, was gradually forgotten by everyone, Kyle, the dad, quickly stood on the top of the wave of the times. The heyday was 18 and 19 years. The situation in Amber has changed a lot in 2020. With the rise of the DEFI gang, many new milk kings have really covered up a lot of Kyle’s limelight.
I remember that the domestic media’s newsletters often wrote Kyle’s views at the time, but this year it is obviously less. But this does not mean that Kyle is not working anymore. He is still very awkward, but the tide of the times has been changing. There will always be new milk kings who will be born and old milk kings will always retreat.
I miss LindaXie at that time and will call out in person, and miss the beautiful and simple people and things at that time. Maybe at this moment, the current amber is also very beautiful, but people will always miss the past, when the current situation is more difficult, or when it is not the amber that you have ideal.
I even doubt that there will be interesting milk kings like Linda and Kyle in the future, adding fun and warmth to the cruel amber. I am very pessimistic, I think it will become less and less in the future.
The maturity of an industry also means that the industry is becoming more and more boring. Amber is getting boring. Very sad. Very sad. Even if you make money, you will feel bored. I think the only antidote is to convince myself that I have made contributions in this industry, so as to bring a trace of psychological comfort.
This is just a groan and gossip. I am looking forward to Amber’s 2021, because it is full of flowers and separate from the crowd. I also miss the old amber because of its fun and my longing for it.
The “Broken Card Operation” is being held across the country. This name sounds very scary, especially for OTC merchants in Amber and ordinary people in the cryptocurrency industry who are worried about freezing cards. They seem to see their bank cards disappearing, but the truth is true. Is that so? Industry insiders said that the OTC industry will suffer a cruel reshuffle in the short term, but it is not negative for the cryptocurrency industry in the long run.
According to news from China Changan.com, on October 10th, Du Hangwei, deputy minister of the Ministry of Public Security and convener of the inter-ministerial joint meeting, attended the State Council’s inter-ministerial joint meeting on cracking down on new types of illegal and criminal telecommunications networks. An important source of the continued high incidence, the harm is very serious. It is necessary to effectively strengthen the sense of mission, responsibility, and urgency in carrying out the “broken card” operation , and severely crack down on illegal crimes of illegally opening and selling phone cards and bank cards.
The meeting demanded that a large number of illegal criminal gangs selling “two cards” were arrested, a large number of key areas where “two cards” illegal and criminal were rampant, a large number of “two cards” illegal and untrustworthy personnel should be punished, and all illegal activities should be cut off. The “Two Cards” industry chain resolutely eliminates the breeding ground for telecommunications network fraud crimes.
The meeting required the establishment of a mechanism in accordance with the principle of “who issues the card, who is responsible”, improve work measures, improve technical means, strengthen accountability for interviews, and make every effort to cut off the illegal opening of “two cards” channels. It is necessary to strengthen credit sanctions. Units and individuals that rent, sell, lend, purchase bank accounts or payment accounts and related organizers identified by the public security organs fake the identity of others or fabricate agency relationships to open bank accounts or payment accounts, Implement disciplinary measures for suspending non-counter business of its bank accounts and all business of payment accounts within 5 years, and not allowing them to open new accounts.
Also participating in the meeting were the Ministry of Industry and Information Technology, the People’s Bank of China, the Supreme People’s Court, and the Supreme People’s Procuratorate. It is reported that since the beginning of this year, 155,000 cases of telecommunications network fraud have been cracked across the country, 145,000 suspects have been arrested, an increase of 65.6% and 74.1% respectively year-on-year, and more than 100 billion yuan of funds involved in the case have been successfully stopped and frozen.
Wu said that the blockchain had previously exclusively disclosed that because many OTC merchants were on the “disciplinary list”, all bank cards under their personal identities stopped non-counter transactions, “no cards can be opened for five years, and non-counters cannot be opened for three years.” Related to this broken card operation. In the OTC transaction of cryptocurrency, due to the receipt of black money or the frozen card involving cryptocurrency, the behavior of changing bank cards or even buying and selling bank cards often occurs. Some merchants engaged in RMB OTC will require employees to use personal bank cards for transactions.
Of course, it is more serious that it involves telecommunications fraud. In early September, a resident in Yangling, Shaanxi was defrauded by a gang of more than 500,000 yuan in the form of “killing pigs.” After the police discovered that about 500,000 yuan of fraudulent funds had flowed into OKEx, they exchanged digital currency through the OTC merchant, which led to the OTC merchant in Jiangsu. Was hunted across provinces. The buying price of USDT on Huobi on the evening of the 12th was already higher than the selling price, indicating gold pressure.
Reference: Exclusive: Major OTC dealers on mainstream platforms were involved in the Shaanxi “Pig-killing Case”, exclusive: Many OTC dealers entered the central bank’s disciplinary list, and banks’ risk control efforts were increased
However, the article “Freezing of Foreign Trade Accounts”, which was popular all over the country a week ago, was suspected of being partial and comprehensive, and took a few local behaviors as the core reason for freezing cards. But in fact, the national top-level plan to crack down on telecommunications crimes is the reason for the freezing of a large number of suspected accounts, especially some historical behaviors have also been held accountable, so a large-scale freezing of cards has occurred, such as the previous Dongguan incident.
For the cryptocurrency industry, due to the inherent anonymity of cryptocurrencies such as Bitcoin, it has become a money laundering transaction channel for some gray and black industries. Telecom fraud, pornography, gambling, and drug use of cryptocurrency to launder money have a growing trend. But for ordinary users with normal investment, the state has increased its efforts to rectify telecommunications fraud, which can reduce the inflow of black money from the outside and prevent ordinary users from being injured by mistake.
Industry professionals also suggest and hope: First, the supervisory authorities’ crackdowns should be sustained and institutionalized, otherwise telecom fraud and black money will re-emerge after the crackdown; second, if the meeting requires “who issues the card, who is responsible”, the bank should respond Establish a better risk control mechanism to avoid the inflow of black money; thirdly, bitcoin transactions and investments are not illegal, and the bank and the supervisory authorities should avoid the expansion of the crackdown and accidentally hurt ordinary investors.
Xia Wei, a lawyer in the cryptocurrency industry, expressed a similar view to Wu said that blockchain is unsustainable. He believes that sports law enforcement is unsustainable. Regulators need to do follow-up work at the legislative level, which will have a positive effect on the cryptocurrency industry in the long run. But for the OTC industry, it will experience a cruel reshuffle in the short term, and the surviving team will gain more benefits in the market.
Welcome to the Wu said reports Selection: An coins power structure, bit continent series, supervision and frozen card series, Filecoin series, PayPal survey, mines and other regulatory developments
risk warning
According to the “Risk Reminders on Preventing Illegal Fund Raising in the Names of “Virtual Currency” and “Blockchain”” issued by the China Banking and Insurance Regulatory Commission and other five departments, please establish a correct investment philosophy. The content of this article does not endorse any operation and investment activities promotion , Investors are invited to increase their awareness of risk prevention.
In the past two years, there have been few cases in which Amber amateurs got rich. For example, in the last era, someone committed a crime and came out of the office for a month and found that the small ant coin in his hand had made tens of millions. not enough.
This round of DeFi boom is not a minority. As amber practitioners, I have heard more or less news that these people who have made money have recently started to cash out, and there are many millions and tens of millions. U’s exchange rate keeps falling, OTC frozen cards have peaked, and more and more insiders patronize KTV, all of which show that they are indeed cashing out.
When I checked Weibo today, some people sighed that Bitcoin is now more and more at the same frequency as US stocks, and its volatility is getting smaller and smaller than in previous years. This round of DeFi market can be said to have started and ended a life cycle when Bitcoin was trading sideways.
So I am also thinking about who are the people making money in this wave. In order to make this discussion meaningful, let’s set the threshold for making money to at least one million. A person can make money in Amber, there must be his reasons. But it’s definitely not an amateur, or in other words, the probability of an amateur making money in Amber is getting smaller and smaller.
What is an amateur? No principal, no channels, no bad information, no risk tolerance, no low-cost chips, no investment philosophy, no trading system. Simply put, the amateur has nothing, only a heart that goes with the flow of amber, and the dream of getting rich overnight.
This round of DeFi boom is a typical example. People who make money are smart people and smart money. Stupid money can’t make any money in this wave of DeFi market, on the contrary, stupid money is the payer.
I often hear the argument that if you come to a big bull market, you can make money. It’s not bad if it’s comfort, but it’s best not to take it seriously. If there is a big bull market, can you guarantee that you can make money? Of course, the big bull market must require new money to come in. But is there such a possibility. All the new money that comes in is smart money.
Smart new money comes in. Then influx into smart projects, the result is that smart people make more money with smart money, but foolish money and amateurs still can’t make money. This is what the U.S. stocks look like now. FAANG has been rising, smart money has continued to flow into several leading stocks in the industry, stock prices have broken new highs year after year, smart money has been made full of money, and foolish money has not been collected. You have to admit that Amber is becoming more and more beautiful.
Amber has entered the stage of mass production projects, with double-digit new projects appearing every day, and new project financing in the primary market is also happening in an orderly manner. If you do not have a basic judgment on the project, you must be at a loss in the face of these complicated projects. I don’t know which one to buy. And capital wants to achieve such a situation: Haitou’s strategy is to cast the net and make more layouts. Invested in 20 projects, and as long as 2-3 projects get excess returns, they can cover all the costs of 20 projects. But ordinary people have no money. As long as they buy the wrong items, they can hardly turn around, because they can’t buy all the items.
In the past two years, retail investors generally feel that it is becoming more and more difficult to earn money, but the money in the hands of capital and institutions has increased unabated. Everyone naively thinks that the old people and OG of the last era have already launched the stage of history, and from time to time they sigh “someone is very old and can’t afford to eat”, “someone has no moral bottom line, shameless, and can’t mix in Amber. “. But in fact, your uncle is still your uncle, and the money that should be made is still earned by others. In this wave of DeFi boom, there are not a few elderly people who have made big money. In terms of amount, the money that the new generation of Amber DeFi has made hard in this round is not as good as some old people who used their fingers to dig a mine to make money. A lot of money.
The DeFi boom is coming to an end, and the bubble is being squeezed, at least for the next 2-3 months. Looking back over the past 6 months, it is not so easy for people to make money in this wave of quotations, and it is not at all the money from the wind. On the contrary, the money is exchanged for time, energy, physical health, and knowledge. And most of them are amber practitioners and full-time traders.
From this point of view, Amber is still fair, and a little bit of effort will yield a little bit. Let’s just say, you’re a person who goes to bed at 12 o’clock in the evening, so why can you earn more than a person who stays at the computer at 3 o’clock every morning and waits for new mines to be excavated. All of this money is in exchange for your life. You are not full-time speculators, and you are a person who blows water in the group every day as a repeater. Why do you earn more than a full-time trader who browses a lot of industry information and projects every day?
As an industry practitioner, I have also discovered a trend that people with insights into the industry are less and less frequent. Writing articles is time-consuming and laborious, thankless, and ridiculed to milk a coin with a sincere heart. The key is that the individual’s voice and power are really insignificant, and the individual is far from being able to influence the market and the general trend. It would be better to buy silently, sell silently, and make money silently. Later I found out that it seems that I can make a lot of money. Since you can make money low-key, why not do it. I think there are many people who hold this kind of thinking.
What surprises me is that there are even amateurs who accuse the KOLs of milk coins as poisonous milk, and the number is still not rare. Today, another person in the telegram group was scolding a KOL whom I respect very much in the circle. I really feel very sad that everyone’s quality has not improved at all. For amateurs, the correct posture in the future should be to beg these people: please milk a coin, let’s take it.
If the process of Amber’s stock marketization becomes more and more obvious, then it is obvious that there will be fewer and fewer KOLs who make relatively objective opinions based on their own interests. Later, these amateurs will find out, fuck, why can’t even find a KOL with poisonous milk, and even if they want to scold them, they can’t find anyone. I also want to remind everyone that if you always maintain this idealism, you will never make money.
It turns out that everyone has remained silent. It turns out that everyone has become the most annoying person before. It turns out that Amber killed you and me.
Counting Amber these years, idealists have all died tragically, and utilitarianism and self-interest have reaped the fruits of victory. The former dragon-slaying warriors have become evil dragons without exception, but at any rate they can barely make money in Amber. Since they have made money, they have to be grateful. So I am grateful for this amber that makes me more and more disappointed.
Hi everyone, I’m Pepe, who has sold out. Yesterday everyone said, remember the man in the picture below, the founder of uni, Hayden Adams, a man who sent an iphone12 to every user. Many people got rich. He hasn’t paid for it himself, this is probably the biggest legend of Amber this year!
However, everyone will find today that if you are reluctant to bear the handling fee due to the congestion of Ethereum, you can redeem it one day later, and you can get the value of two iphone12s with one number.
And I don’t know if it should be said to be magical or whether it’s a heartbreaking thing, if this time I can’t get the uni airdrop:
When you first saw the above paragraph circulated in the streets and alleys, you did not feel anxious but chose to “take the market”. To this day, you can earn an ip12[笑哭].
But don’t be afraid whether it’s a uni or the one that is sold off. There are opportunities every year, starting in April, going crazy in May, making blood in June, getting rich in July, taking a break in August, and defending rights after September. nose].
Haha, although the above is a joke, but I really want to stay in this circle for a long time, don’t worry about short selling and flying, always remember that we have a cooperative relationship with this market, and others are rushing to get the money. Earn, don’t need it. We can also collect a little, just earn a part of the market. Too many cups and utensils actually started because they were originally ordinary people, but thought they were the protagonist of this circle. Against the wind and water.
Uni also mentioned it a little later yesterday. It still has some hype factors, but the reason why it came out earlier is that there is still a lot of uncertainty here, especially because there are a lot of almost no-cost bargaining chips to calculate other people’s things. It’s not my specialty for the time being.
But don’t look at how lively these past two days, and everyone has a share. As long as you have used it, even if there is only one transaction, you will get a 10,000 yuan red envelope, but how much is really earned is not yet known. There are not a few, and don’t just see meat but not beating:
So in this wave, the following types of people have become rich overnight:
1. It is the person who issued counterfeit coins that we mentioned yesterday. Every time a coin is issued, a wallet will be exchanged. The counterfeit currency is mainly to deceive some novices who don’t know how to read the contract address and charge money into their pockets. I know whether this “business” can really deceive people, but this time it seems to be scammed. I didn’t expect uni to give such a huge fortune. Of course, it was all online chat records. How many numbers are there and how bragging is it? , We don’t know.
2. The earliest users will have excess rewards:
In fact, before June of this year, the handling fees for making markets on uniswap were still pitiful, but I tried it when no one was interested, and it really deserves a reward, although the amount seems a bit exaggerated.
3. Wallet team test:
I read this picture as a joke, but it is true that some domestic wallet teams have gotten a lot of test accounts and accidentally got multiple airdrops.
4. Senior uniswap speculator
For the people who eat melons, I don’t know if they have thought about it, why there are still many people in various communities who have multiple accounts that meet the airdrop conditions. You must know that the gas cost of ether has not really been cheaper since June. Various authorized contract operations on uni, and want to do a single transaction account is a high cost, so does the fee for reversing multiple accounts increase exponentially?
According to Pepe’s secret observation, most of the airdrops with dozens of airdrops in this round are caused by the authorization risk on uniswap. Generally, when you make the first transaction of a strange trading pair, you will need to authorize first on uni. Only after this authorization, the contract can dominate your assets without the permission of your private key.
Original text above: Be careful! Ethereum DeFi abuses authorization, your wallet may be stolen
This may lead to, if you have 100 eth in your wallet, you usually only take out 10 eth for trading, but if you encounter a contract pit, your 100 eth are at risk of being transferred, not just The ten for contract transactions.
It’s a bit scary to say, but this is not to say that every transaction will be like this now, but there is this risk, even if the contract is audited, but even the project contract on the ether can be replaced.
Therefore, the usual method for experienced speculators is to re-create their wallets every time they complete one or two transactions in the Tugou project to avoid such risks.
What I didn’t expect was that even though I had given a little more handling fee before, there was such a windfall waiting here.
In fact, it is reasonable to say that uni airdrops are calculated based on the previous user’s contribution, such as transaction volume. The value support for uni will be a little more. It will not be like many low-cost fortune accounts now, of course, his family. The strategy should be to hope that the chips are more dispersed.
In addition to the above four categories, another person who makes a fortune with a muffled voice may belong to the Ethereum miners . Now the fee is softened. Yesterday I also listened to a live broadcast by the boss of Jiang Zhuoer, saying that it is possible to be a miner now. Why is it better than defi mining, because the annualized income is not low, but the duration is relatively short, now most of the reliable points on the ether are below 100% annualized, and mining always has to rotate .
As long as the popularity of defi does not drop, miners will continue to earn money regardless of the rotation of internet celebrities. At present, this era of high gas fees is going to last longer than expected.
Finally, returning to the question of the title , today this uni continues to be a hot spot for Amber, and its price performance is also very outstanding. I have also seen some groups chasing it. The logic of many friends is that its performance and ecology can catch up or surpass. There is still room for the market value of the three big ones, ranging from $6 to $10.
But I think it takes a little more time to observe this. If you really like such a product, you don’t necessarily need to rush for a while, especially in such noisy moments. Many things are not clear. It is better to let the time. Give the answer.
Note here
1. What did uni’s rise depend on? In fact, it was still a speculative trend. From June to September, it didn’t explain too many problems. It’s like sometimes seeing a certain star dominate the screen, and everything is his drama. , Advertising, but after a wave of turmoil, there is not much sound.
Uni has a good momentum, but will it be like this, or it may be better not to issue coins, we don’t know yet, but judging from the accounts that can be received yesterday, the vast majority of Amber users actually don’t. Having used uniswap, this is a good thing, indicating that its market space is still very large, but on the other hand, it also shows that mainstream users have not formed the habit of operating on the chain, and those who are more mixed in dex are still getting benefits or instantaneous Attracted by the doubled dog.
2. There are ways to change the problems of high handling fee threshold and scalability, but the automatic market-making model of AMM still has its shortcomings. The function is relatively simple. Issuing tokens cannot compensate for impermanence losses, nor can it compensate. These fund pool transactions cause a loss in the price of the token.
We are now relatively in a positive cycle (the main trading pair Ether has been in an upward trend), it is difficult to say what will happen if everything starts to go down, how good it will be when it is praised by the public, but I think we still need to observe When the tide fades, can uni still have an advantage over the traditional model of cex.
3. A certain degree of decentralized distribution will bring about the process of chip decentralization to re-aggregation. This is also one of the unexpected factors in the price of uni, but for governance tokens, the decisions of the big players are in line with this project For long-term benefits, it is only because there are too many speculative players, they will make more short-sighted choices. This year, many mining governance tokens, I think there are problems in this regard. Complete decentralization has advantages and disadvantages. .
4. Think about the five types of money-making people mentioned today. Where do their profits come from? Anyway, it is not from Hayden Adams.
Conclusion
Of course, the prospect of uniswap is still closely related to the subsequent project progress decisions. For example, uni is only used for governance at the moment. Can it be tied to the fundamentals of the platform and truly valued as a platform currency? It can be just the beginning.
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