When the big pie (BTC) returned to the price below 50,000, all kinds of voices in pursuit of the copycats emerged again. Of course, you can carefully select among a large number of altcoins to find the potential coins which may increase greater than Bitcoin, or you can see many of them surging to sky in a specific period of time (usually at the end of the bull market cycle when the btc price is rather stable). Flurry of copycats chased the rise of Bitcoin one after another. This is not surprising.
Just as the words of US President Lincoln said: You can lie to one person at all times, or you can lie to everyone at the same time, but you cannot lie to everyone at all times.
This is the problem with the bull market. The bull market is full of bubbles. This bubble is a good wine for long-term investors who cross the bulls and bears, but it is poisonous for the new-comers that are blindly following the wind.
If you want to know the poison in the poison, they are the altcoins in the bull market. (Note: Altcoins refer to all virtual currencies other than Bitcoin)
Poisoned wine is sweet; drinking poison may not make you die, but will make the pain endless. Those people who drink poisoned wine will look at the btc holder and swear words like "rigid", "dogmatic" or "coward".
Some people are either blindly ignorant or arrogant --- they invest in a bunch of altcoins, and they can't count them with ten fingers. But they don't have strong confidence in any of them, and each one only cost one thousand or eight hundred yuan. They think that even if the price goes to zero today, it doesn't hurt.
It's not an investment as it is a gambling on luck. They are trying their luck that they can run into a virtual currency which gives them 100x profit.
These friends just aren't good in mathematics, or they simply don't bother to use their brains. Invest in 100 rubbish coins, 1000 yuan cost each, the total investment is 100,000 yuan. Suppose you are lucky enough to hit a 100x coin, and you really hold it, and you manage to escape at the top. Finally, you get 100 times profit on this coin, but all the others are zero, and the total amount is also 100,000 yuan.
If you invested 100,000 yuan and have 100,000 yuan after all these, you missed better and more profitable opportunities, and also spent a lot of energy and time to deal with the purchase, sale, safekeeping and other issues, for hundreds of coins. On the whole, it was not just a waste of time, but a huge loss in potential profits.
If the winning odds are high, then the money you can win must be small. High odds and low profit rate are gambling. Professional players never gamble. Look at the Wall Street, how many of them make money by betting on luck? They only do the most sure thing. They use tools to hedge risks and increase winning probabilities. They effectively manage market risks and turn volatility into their profitable friend.
Maybe a friend is dissatisfied: Can't I be lucky? If I invest one coin, I win one hundred times from that coin, can't I?
What I want to say is, my friend, if your luck in life is really super good, you would have been prosperous and reached financial freedom. Why do you want to mess around with the virtual currences, and spend a lot of time in order to invest one thousand and eight hundred bucks into a rubbish coin?
You are still a poor man. The fact that God is desperately hinting to you is that you are really not lucky.
That being the case, why do you still hold self-confidence in your luck?
This is not self-confidence, but narcissism, arrogance, and conceit.
Attributing success to luck is also a kind of historical nihilism. Just as some well-known big players like to promote that China's rising is based on the luck of a few so-called historical events, they are essentially promoting a wrong view of history and the world.
To strike on iron, you must be tough by yourself. The real master has always relied on strength.
If you rely on real strength, no matter if it is good luck or bad luck, it can be turned into good luck and achieve good results that are beneficial to you.
Throw away your illusions, spend more time on your practice, and work harder to improve your investment ability!
--- Translated from http://losercointalk.org/thread?topicId=1195
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