"Seven Years in the Crypto World: From Euphoria to Ups and Downs, From Excitement to Greed, Finally Learned to Use a Light Position"

In 2018, I stepped into the crypto world for the first time.
At that time, I didn't even understand what BTC was, I only knew that some people made money from it.
That year the market was sluggish, but I felt like I was being drawn in by some force, and thus began my seven-year adventure.

When I first came in, I only dared to touch spot trading.
Watching the fluctuations of BTC and ETH every day, even a 1% increase can excite me for half a day.
It wasn't until the epic bull market in 2021 that I first felt what it was like to have "everyone making money, and I was part of it too."

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01 | Spot Era: The Purest Joy, Yet the Most Dangerous Illusion

From 2019 to 2020, I was just a quiet small retail investor.
Save some money to buy some spot, and look at the K-line every day like checking the weather.
Although it rises slowly, I feel secure in my heart.

What truly pushed me towards the abyss of greed was the 2021 bull market.

That year, my account turned green to red every day, and red to an even deeper red.
I see countless people in my friend circle flaunting their earnings, and I also begin to believe:

"Can I also change my destiny with this?"

At that time, I still didn't know that what the bull market brought was not freedom, but boldness, impulsiveness, and blind confidence.

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02｜First Contract: The Dream of Getting Rich Overnight, Shattered in Five Minutes

At the end of the bull market, I couldn't help but open my first contract in life.

Starting off smoothly.
3 times, 5 times, 10 times, I won them all.
In just a few days, the account has grown faster than in the past two years.

I'm starting to drift, and I even feel like I "understand."

As a result, at four o'clock one morning, I was awakened by my phone vibrating and saw a cold, icy message:

"Your contract account has been liquidated."

I stared at my phone for a long time, that night I first realized:

The crypto world will not reward you forever; it will always slap you in the face when you are the proudest.

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03｜NFT, Blind Boxes, FOMO: I thought I was catching the trend, but what I actually caught was the edge of a knife.

After the contract was liquidated, I told myself not to touch leverage again.
But the temptation of making quick profits is hard to resist.

When NFTs became popular, I rushed in again.
Whitelist, Discord, Floor sweeping...
I squat on news and mint NFTs every day like a worker.

At first, I earned a little bit, and I thought I had found a new land.
Until one day I woke up and found that all my dozens of JPEGs had been cut down and cut down again.

What I collect is not art, but a pile of worthless images that nobody wants.

That loss made me doubt for the first time:

"Am I really just fooling myself?"

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04｜Inscription, Rune, Dirt Dog: In the crazy years, I buried myself in the soil

Of course I also jumped into the wave of inscriptions and runes from 2023 to 2024.

Chains can't catch up with chains, numbers can't catch up with numbers, and dogs can't catch up with dogs.
I buy whatever is shouted in the group.
Others say they can multiply it by 10 times, I don't check, don't understand, and still dare to rush in.

Earned a few times, but more often it's:
•Dog goes to zero
•Project run away
• The fees are more expensive than a dog.
•Waking up to find the wallet shrank by half

At that time, I kept telling myself:
"It's okay, we can make it back next time."

But the result is repeated losses, being educated time and time again.

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05｜2025: The second liquidation, and also the most painful one.

I took a step I shouldn't have taken.

The moment the position was lost, I stared at the screen with my heart racing chaotically.

I thought I had become mature and stable, and would not make the same mistakes as before.

But when the market consolidates for too long, people can feel lonely and impulsive.
That day, I opened a leverage that I shouldn't have opened.

When the market suddenly reverses, my heartbeat while staring at the screen is faster than the K-line fluctuations.
I tried to average down, pull the average price, and then buy U. But the market kept rising, and I held on to my positions until I couldn't buy U anymore. I could only wait for the market to pull back, but in the end, I couldn't hold on and lost my years of savings overnight!

2300 ETH, endured for 3 months, went through a whole bull market, during which there were hedging activities, ultimately losing at the peak. Only I know how I got through these three months.

I stared at the asset number of "-1 million RMB", feeling completely drained.

All the emotions from the past seven years burst out at that moment.
I suddenly understand:

It's not me gambling, but the market educating me.

At that moment, I really fell silent.
The joys and sorrows of seven years exploded in my heart.

I was sitting there when I suddenly understood a sentence:

It's not me playing the market; it's the market playing me.

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06｜Now I: Light Position, steady, no longer gambling with my life

After the liquidation, I thought for a long time.

It's been seven years, and I have come from being a small retail investor who knew nothing to where I am now, stumbling along the way:
•Have seen account doubling
•Have also seen zeroing out
•Experienced the bull market frenzy
• has also experienced the heartache of late-night liquidation.

I no longer fantasize about getting rich overnight.

I made rules for myself:
•Spot is the main character, not the contract.
•Always maintain a Light Position in contracts, never exceeding 5% of total assets.
•If you don't understand it, don't touch it; if it's emotional, don't touch it.
• Don't go all in, don't gamble, don't rely on luck
•Living is more important than anything.

I finally understand:

The crypto world is not about who makes more money, but about who stays in it longer.

Maybe I didn't make the same huge profits as others, but at least I learned the most important lesson in these seven years:

Light Position is the greatest respect for oneself.
Stability is the greatest responsibility towards the future.
To live is the greatest victory.