Babbitt Column | Raiders: Banknote Bankruptcy Guide

The full text is about 3,500 words.

"If I can know where I am going to die, I will never go to that place for a lifetime." – Charlie Munger (a partner of investment guru Buffett) said.


In the last two or three months, the digital currency market fluctuated and went out of a wave of Xiaoyangchun. Many friends began to eagerly try to kill the currency circle. The return of the king, or the sheep into the tiger's mouth? The following is a concise bankruptcy guide for the coin circle, for your friends, especially the white friends.

First, chasing up and down

Bankruptcy speed: 1 star.

When you see that the market is hot, you just want to enter the market, it is already a hindsight. To make matters worse, you still can't judge whether it will continue to rise or will call back. The usual rule is that if you don't come into play, it will continue to rise; once you enter the game, it will stop rising and falling. Under the frustration, you have to bear the pain.

As soon as you go up and down, buy and sell, you buy nutrients for this volatile market. Price is the lagging indicator of the cause, and your behavior is the lagging indicator of price. All indicators on the K-line chart, Volume, EMA, BollingerBand, MACD, etc., are all price lagging indicators. Media news, even if it is fast, is also a lagging indicator of price. The analyst's point of view, letting it be self-explanatory, is often a lagging indicator of price.

Lagging behind the market, what about talking about outperforming the market? Chasing up and down, even if the target of the operation is a high-quality asset, and finally it is the "intra-meal" of the market. It is the phrase that beats the oil: a one-hand operation is as fierce as a tiger, and at first glance, there is one hundred and five (self).

Only by establishing your own leading indicators can you lead the market and win from the market. Leading indicators, in the chain of education (public number: blockcoach), only two:

One is based on trust-based. The traditional financial market has only this kind of leading indicator, and it is the object of supervision, such as insider information, which falls into this category. Such indicators often require “trust” that someone or small group does do what the legend claims. Many times, facts often prove that people are the least credible, especially in the face of the huge benefits of lack of supervision and restraint.

The other is not trustworthy. The blockchain gives us the technical possibility to build leading indicators that are not based on trust. For example, with regard to Bitcoin, you don't need to trust Nakamoto (this is a pseudonym), you don't need to trust the core development team, you don't need to trust the mining pool, miners and mining machine manufacturers, you don't need to trust the currency circle and opinion leaders. You can study the mechanisms and rules of Bitcoin independently, and how this rule is above everyone and is guarded by computer power and cannot be tampered with. You don't need to trust a changeable person, but just decide whether you believe that an immutable algorithm will work effectively in the future.

Ironically, the initial intention of the birth of blockchain technology is to eliminate the dependence on people's trust. Many projects also use trustless (not based on trust) as their own promotional label, but in practice, they often go to the north, not only require you to give unconditional trust, Even at the expense of false packaging to defraud your trust.

Only by establishing your own leading indicators, can you calmly bottom out in the trough of fear that the market is full of fear. The more the market falls, the more pessimistic the media is, the more desperate others are, the more you insist on buying. The low point layout, after the opening of the warehouse, steady hold, quietly waiting for the value to return.

Around the month of January, the teaching chain and some friends explained in depth the principles of Bitcoin and the significant progress in fundamentals last year. Some friends have realized that the market pricing has deviated, and then they have bought and stabilized at 4,000 US dollars and below. Some friends have failed to know the line and have missed the opportunity to open a position at the bottom. The difference in action can be used to reverse-check which position the cognitive level has reached.

Cognition is not in place, even if it is fortunately earned, it will be returned to the market in the future, until bankruptcy leaves.

Second, buy altcoin

Bankruptcy speed: 2 stars.

Some friends feel that buying mainstream currency to chase up and down is sawing wood, slowly cutting back and forth, bankruptcy is too slow, then you can consider challenging the altcoin and returning zero coins.

If you have never bought bitcoin white, you will challenge the altcoin directly and the effect will be better. I don’t know how to correctly understand the blockchain and digital currency, and I don’t know the true decentralization and non-trust-based bitcoin look, which makes it easier to believe in the propaganda and advocacy of the altcoin. Get into and quickly return to zero.

Chasing up and killing bitcoin, if the position is well controlled, it may not have lost in one or two years, and may even earn it; and a haha, a habit, should be as short as a few days and a few months long. Can be gloriously bankrupt.

So the question is, what is the altcoin?

Some people look at the market value ranking, some people look at the platform endorsement, some people look at the big coffee platform, some people listen to friends recommended, all kinds of angles, and so on. The high market value, the big platform endorsement, the big coffee platform, and the friends recommend it is the mainstream currency and the value coin. On the contrary, it is the altcoin and the zero coin.


Whether the cottage is or not is essentially whether your subjective cognition is in place , that is, whether you really understand the coin. Once you really understand it, you can carefully distinguish its value and risk. What you don't understand, what you hear, plausible, is the altcoin. The altcoin is not within your cognitive range. It is tantamount to entertaining with the tiger.

Again, what you don't understand is the altcoin for you. If you haven't fully understood the principles of Bitcoin, then for you, Bitcoin is no different from altcoin.

Learn before investing and do your homework.

Various IXOs are emerging one after another, and the gameplay is constantly innovating, and the project is dazzling. Do you have time to study it thoroughly? No. If you don't have it, the project side, the exchange, the market value management, the media, and the friends (online) will carry out three-dimensional, all-round ideological infiltration, cross-certification of information, and three people into a tiger, so that you have to believe. Provoke your greed, add a little bit of radicalism, you roll up your sleeves, take a shot at the table, and see the exchange start, then rush in, while you increase your position, until you are confident Suddenly, I witnessed the vertical movement of the figure and went bankrupt.

Third, play the funds disk

Bankruptcy speed: 3 stars.

You can lie on your wallet and earn money. The more you save, the more you earn.

Online recharge to buy cloud computing power, cloud mining machine for cloud mining, sit and enjoy dividends.

Public currency, model currency, resonance, the bitcoin in your hand is replaced by the altcoin issued by the other party, draw and dividend.


The vast majority of the people in the land of China have always had a mysterious passion for the fund and the pyramids, especially the small city residents of the 3rd and 4th lines. As early as five or six years ago, relatives and friends of the hometown consulted the teaching chain about a digital coin project from a Nordic master professor.

The principle of the fund disk is very simple. The East Wall is used to replenish the Western Wall, and the funds of the latecomers are used to repay the previous high-yield returns. The first condition for its non-crash is that a steady stream of latecomers continues to bring in new capital inflows. Therefore, the tactical method of pyramid-level distribution to pull the head of the people has become a natural fit for the fund-distribution project.

It is not difficult to find the fund table project accurately. It is enough to look at two points: first, the amount of your assets will automatically increase; second, there are rewards for pulling people.

Using these two points to compare Bitcoin, you will find that Bitcoin is simply too bad. First, if you hold Bitcoin, it will not change a little more than 10,000 years. On the contrary, if you want to turn For the account, you have to deduct the handling fee. Second, you can only be a volunteer promoter. No matter how many people bought Bitcoin because of your introduction, the Bitcoin system will not give you a referral fee.

This year's so-called Staking Economy (mortgage economy) suddenly caught fire, and various projects emerged one after another. Boldly predict that the mortgage economy and funding will surely spark a spark, a wonderful chemical reaction, and a new model of innovation, because the two are simply too similar in terms of user perception, right? It is difficult for the masses to eat melons. It is difficult to tell the 15-25% of the annualized rate of return, whether it is to issue additional returns, or to borrow and return. However, from the perspective of economics, is there really a difference between the issuance (inflation) and the lending (Ponzi)?

If you start to step on a plate, congratulations, you are not far from bankruptcy.

Fourth, selling house fried coins

Bankruptcy speed: 3 stars.

There was once a buddy who sold his own house All in Bitcoin at the end of 2013. After two years of painful persistence, the clearance was cleared, but it was not changed back to the original house.

But if he can stick to the end of 2017, he can at least switch back to 10 houses.

Summarizing the experience of the predecessors, why can't he stick to the moment of victory? The reason for not having him is that he added a soft lever.

Unlike the explicit hard leverage that is used to finance the currency in the market, this soft leverage often uses money that should not be used and invests that it cannot afford.

Similar to selling home-selling coins, there are also practices such as raising money to spend money on relatives and friends, diverting the elderly to save money, and so on. They are common examples of adding soft levers.

What kind of funds are suitable for investing in digital currency? First, return to the money you can accept; second, the money that will not be used in a lifetime.

According to these two standards, is the proportion of eligible money in the pocket as high as not imagined?

Don't say that it is the money to sell the house, even if it is the cash saved at hand, if it is already allocated to a certain budget in the visible future (such as monthly mortgage or rent), or in case of emergency Funds (in case something happens in case of an accident), it is impossible to take out high-risk assets.

There are basically two risk attributes for an asset. One is that short-term volatility is large, but long-term risks are low. The other is the opposite, the short-term is stable, but the long-term risks are high. Short-term refers to a quarter of the Kangbo cycle (Kandatiev cycle) (about 10-15 years). Long-term refers to the time scale above the two Kangbo periods (more than 120 years).

Bitcoin is the former and the dollar is the latter.

Assets that are stable in the short term and have low long-term risks should not exist. Short-term high-risk, long-term high-risk, and even early return to zero, is the characteristics of most altcoins, air coins, and currency. This classification should not even be treated as an “asset”.

If it is the wrong money, even if it is invested in the right things, it will certainly be involuntarily under pressure. When it is most insistent, it will withdraw, and it will not be able to return to the past.

As the saying goes: One has lost a thousand years of hatred, and then turned back to be a hundred years old.

This bankruptcy road, although not the fastest in terms of speed, but the pain index must not be low.

Five, 100 times leverage

Bankruptcy speed: 5 stars.

To say that the road of the king of the bankruptcy of bankruptcy, 100 times leveraged contracts must be taken for granted.

As a featured product highly recommended by many exchanges, the 100-fold leverage tool gives the speculators who are eager to get rich overnight a fantasy.

In particular, opening 100 times leverage is short, and it is cruel in brutality.

Shakespeare said: These violent delights have violent ends.

This cruel pleasure must have a cruel ending.

On this 100-fold lever, the bones are white. This ultimate bankruptcy law will not only destroy your wealth, but even your body.

Often it doesn't take a second. Between the electric and the fiery stone, you have not recovered, and everything is over. But see:

Full of ridiculous words, a bitter tears.

They all talk about fried coins, who knows how to taste vegetables?

(End of the article)

Author: Liu teaches chain

Source: Public No. Liu Jiao Chain