From hacking to being an acquaintance, the money ring is paid off

By Ada, Deepwater TechFlow

After having experienced a major purge of 10.11, the encryption market did not receive a retaliatory rebound, but instead continued to fall in November, with bitcoin falling at a threshold of $90,000, and the Ethershop also went down to about $2,800。

but it's not a big deal for old beads. they have experienced greater volatility, greater cleansing and even deeper pits. those who have long gone through the wind have only a slight word of “ what is &rdquao。

however, when it comes to the past, no one is indifferent, some have experienced exchange thunderstorms, others have been cut by so-called insider news and others have been killed by acquaintances &herlip; &herlip;

Let's hear their story, see what the old cuisine is, what are their impressive positions of loss in the encryption industry

Mike: hit by an exchange run-off

I'm Mike in 2018, and now I'm an entrepreneur who's been through several rounds of cattle bears and a lot of pits。

Impressed losses twice。

In 2019, I wanted to pursue some high returns and put a part of the BTC\ETF\USDT in a single exchange to manage the finances, because it gave a higher return than any other exchange expected. But a year later, the exchange ran off, called Fcoin, one of the trade-drilling ancestors, when the university was only a few years old, working hard, living in break-ups, saving 1.5 bitcoin and 20 ephemerals, and turning zero overnight, which did not seem to be a very large number, but now it is a million。

And the second was in 2020, when I got a tip from a business friend saying it was a banknote that wanted to go in, so I ambushed it. In order to live up to the valuable intel, I sold two bitcointohas, which was about $10,000。

As a result, after selling bitcoin, it went up to $40,000, while the silo fell 70%. Even though it was later paid off, it was meaningless。

I am now very cautious about the gossip, because I do not know whether it has been priced or whether it is possible that it is false in itself。

Besides, both Fcoin and FTX thunderstorms have shocked a lot of people, and the encryption industry has black swans all the time, so I'm also going to have cold wallets to avoid extreme risk. Moreover, I will not place assets in encrypted currency markets, with assets such as US shares, gold, French deposits and so on, because there is no 100 per cent security in this world, and it is only through this risk-spreading approach that the impact of potential future black swan events can be reduced。

I've been through a lot, and I've now developed some logic of my own。

First I'll see where mobility comes from. For example, this round of money comes from high-risk liquidity preferences in the United States dollar market, resulting in a growing connection between Bitcoin and the United States stock market, which is essentially at the front end of liquidity risk preferences. Secondly, I am concerned about the long-term trend of the project, with the core looking at team and founder patterns or internal drivers。

Looking back, I want to say to myself who has just entered the profession, be careful, step-by-step, but also believe in the future of the industry, and then be bolder and bolder in the right direction, for example, by hoarding pies。

Finn: Hackers and contracts, enemies of life

I'm Finn. I'm the founder of an Agency BlockFocus。

I REMEMBER, ON APRIL 28, 2018, FOR THE FIRST TIME, I BOUGHT BITCOIN IN A FIRE COIN, AND I DIDN'T KNOW WHAT USDT WAS。

AT THAT TIME, IN AN ARTICLE IN MÉMON, IT WAS SUGGESTED TO A COLLEGE STUDENT THAT HE WOULD BUY BITCOIN AND PUT IT IN A COLD WALLET FOR FIVE YEARS. I WAS ATTRACTED TO IT, AND THEN I LEARNED THAT CHANGO HAD MADE A PROJECT CALLED THE PIXAR CHAIN AND THEN BOUGHT USDT WITH BITCOIN AND BTM WITH USDT. BUT A MONTH LATER, MY BTM LOST 80%, LEAVING JUST OVER $2,000。

But the failure of the first investment did not prevent me from entering the circle, but instead opened a window for me. At the beginning of 2020, there was an opportunity to enter the currency ring。

Two large losses have been most striking in currency circles over the years. One was in 2022 at the end of April, when my wallet was stolen because of a lack of security awareness and a lack of security precautions. Most of the stolen are APX tokens, and later Aster, with a total value of about 600,000 knives. If not stolen, it should now be free of wealth。

The other one was on October 11th of this year, when my contract broke out, and at the lowest price, I lost a lot of money. To be honest, I'm not a full-time trader. It's just a gamble, but I didn't know it was so precise。

In addition to these two times, I stepped on the project's pit once。

LAST YEAR I WAS INVOLVED IN A PROJECT THAT VALUED LESS THAN $100 MILLION, UP TO $4 BILLION THIS YEAR. WE HAD THE TGE UNLOCKED 10%, BUT WE HAVEN'T UNLOCKED IT YET, SAYING WE'RE GOING TO POSTPONE IT UNTIL NEXT YEAR, BUT WE DON'T KNOW WHEN. WE NEGOTIATED WITH THE PROJECTERS TO REFUND OUR MONEY, BUT NOT SO MUCH, SO I THINK INVESTORS ARE VULNERABLE AND HELPLESS。

But I've been looking at some projects, and the most exciting of them is Aster。

Aster's predecessor was APX, and I've been calling for it since the end of 2021, and it's the only project I've recommended to friends around me, and I support it with practical action. After the wallet was stolen, I bought APX。

WHY WATCH IT WHEN IT'S STILL APX

I THINK THE FIRST THING I THINK IS THAT I'M VERY GOOD AT THE DEX TRACK, AND THE PROJECT WAS VERY LOW IN VALUATION, AND MOST IMPORTANTLY, I LEARNED FROM MULTIPLE SOURCES THAT IT WAS AN INTERNAL PROJECT, NOT AN OUTSOURCING TEAM OR SOMEONE WHO LEFT, AND THAT IT'S ALWAYS DONE SOMETHING THAT DIDN'T END UP WITH AN INTERNAL PROJECT, SO I WAS WILLING TO BET AT AN EARLY STAGE。

It's been like a cycle for years, but I still think this industry is better off than any other industry, and it's comfortable inside, a circle where I can work and live in balance. The promise for the future is to work hard, not touch contracts and ski。

Beyond: Visited by North Korean hackers

I'm Beyond, and on Twitter I was called the deconstructor, the first time I had contact with the encrypted currency was in 2021, when I was still reading freshman year。

On April 20, 20, 20, 20, 20, 20, 20, 20, 20, 20, 20, 20, 20, 20, 20, 20, 20, 20, 20, 20, 20, 20, 20, 20, 20, 20, 20, 20, 20, 20, 20, 20, 20, 20, 20, 20, 20, 20, 20, 20, 20, 20, 20, 20, 20, 20, 20, 20, 20, 20, 20, 20, 20, 20, 20, 20, 20, 20, 20, 20, 20, 20, 20, 20, 20, 20, 20, 20, 20, 20, 20, 20, 20, 20, 20, 20, 20, 20, 20, 20, 20, 20, 20, 20, 20, 20, 20, 20, 20, 20, 20, 20, 20, 20, 20, 20, 20, 20, 20, 20, 20, 20, 20, 20, 20, 20, 20, 20, 20, 20, 20, 20, 20, 20, 20, 20, 20, 20, 20, 20, 20, 20, 20, 20, 20, 20, 20。

Although it now appears that $10,000 is not a lot, for me, who was a freshman at the time, it was my living expenses for months. It was too difficult to handle at the time, so it never touched again until early 2023. Then the inscription went out, and I was involved again, and I got some revenue. Because of the economic temptations, I should even decide to make encryption the main course of my graduation。

I'VE TRIED A LOT OF BUSINESS IN THE MONEY RING, I'VE WRITTEN MY OWN ADAGES, I'VE OPENED A FURRY WORKSHOP, I'VE OUTSOURCED SOME PROJECTS, I'M NOW KOL, I'M RUNNING MY OWN COMMUNITY AND THE BIAN SQUARE. I LIKE THIS WAY OF LIFE, WHICH OFFERS BOTH FULL FREEDOM AND GOOD ECONOMIC RETURNS。

But after a long period of time, some pits have inevitably also been stepped on。

Most impressively, last August 10th, a man disguised as a well-known VC employee wrote to me personally and invited me to join them. I thought it was getting harder and harder to make money, and I wanted to find something else to do, so I started to contact them on Telegram。

It's been about two weeks, and it's been nice, and I've got information about them on a well-known information platform, and there's more than 20 of our friends, including some of the famous bosses in the circle. All the messages that came out were very real, and I trusted them so much that I was happy when they sent out Google Meering。

But when I got into the platform they provided and clicked on the link, all my chain assets were emptied, all my hairy accounts and Web2 social accounts were stolen, and they were badly lost, and later known to be North Korean hackers。

In another instance, there was a failure to realize the wealth on the books。

At the time when the inscription was hot, there were many hundred times the mark on the currency chain, but there was only one hundred times the mark on the chain, and I believed that there would be more than 100 times the inscription asset on the chain, so I went into research along that logic and found ETHI. And then ETHI went up from 3u to 400u and tested my investment logic and vision. But because of my faith in the inscriptions and the fact that they were able to innovate the way assets were distributed, I kept them in my hands and watched them fall all the way to zero。

But this experience has shown me the tip of the benefits of the currency circle's madness, and indirectly has led me to decide to go deep into the circle and do some related work. Also, it reminds me of the cycle of respect, without a narrative that really lasts for a long time, just take it, and the faith is always only bitcoin。

Looking back, if I don't go in, I might go to traditional foundations, issuers, or investment houses, and work in the traditional finance industry, but I'm still a significant advantage in personal development compared to my predecessors, so I'm grateful for the choice and confident of the future。

Tsing: Recovered by an acquaintance's office

I'm Tsing, like a lot of &ldquao; an old knowledge payer &rdquao; and, like, my encrypted enlightenment comes from Lee's "The Way to the Free of Wealth," and the first encrypted money investment is not bitcoin, but EOS。

before entering the circle, i pressed “ the traditional path ” and went round: fired stocks, bought funds, bought american shares. but one day i found that it's good to have taken two, three years of stock, and up 50 percent, but the price on the chain could be 10, dozens of times, maybe zero. then i was attracted to the game of this adventurer。

i'm sure i've lost a lot of money in the ring, but the deepest pits are not & ldquo; market losses & rdquo; but acquaintances。

The biggest loss I remember was not a chain, a project, but a man I believed, and then a man who believed in me。

for the first two or three years, we all compare & ldquo; & rdquo; especially for people like me, the character is simple and the sense of loyalty. my friends took me to a game, and i brought my friends in, and everybody thought “ &rdquo was introduced by one of us; naturally, the guard was relaxed. however, eight out of ten such schemes are covered in “ project ” “ ” “ block chain ” skin, which is essentially a transfer currency, air pallet. the project ended up dead, the money was gone and the relationship was hurt。

This loss caused me to lose millions of dollars and then to try to remedy it, to communicate with and defend the project, but the end result was the same:

Money can't come back, people can't get it back, only one can be disappointed。

And after that, I set myself a very strong principle: I don't have to invest without anybody, especially something I haven't figured out myself. Because when something goes wrong, you're not just doing it for yourself, but for your own sake, for your credibility, for your emotions。

i've stepped on a lot of pits, but i'm sure i won't turn back. because it's a global game that doesn't require a lot of socialization. as long as it's the right direction, people here can go up in a round. this is a way of life i like, not a section of &ldquao; offline &rdquao; copy。

i now have a relatively complete investment logic system, but what really worries me is not “ whether there is a system ” whether there is enough work to do according to my own logic; how much room to optimise the system; and whether it can be manufactured to serve more people。

Everyone in this circle wants to influence you. The projecters want you to believe their story; KOL wants you to follow him to the car; the crowds, the social groups, the moods that take you away. But the real starting point is when you begin not to believe unconditionally in any one & ldquo; authority & rdquo; and be able to build your own logic, to prove it and to push it. Until then, you were in someone else's system. After that, you can be your own player。