⚡️ In the midst of a bull market, I hear comments like this every day, and I never expected that this time it would be my own family member. - -
First of all, I do not recommend anyone to sell their house and go all in.
Friends who are new to the circle may not understand why, because this path is not suitable for ordinary people. Let me tell you a story about an early all-in brother and his experience—
In 2014, there was a popular ID in the Bitcoin forum called "Encounter in Notting Hill." On January 28, he used all the savings his family had accumulated for 7 or 8 years to buy a house and purchased 100 bitcoins.
People in the forum laughed at him for being foolish. He said that life rarely offers such opportunities, and he did not plan to sell in the short term. He even borrowed money to get through the New Year.
He did not dare to tell his wife and family about his purchase of bitcoins. His wife said that the money could earn 7.2% interest in their company, and he could only say that the investment he found was higher than 7.2%.
Later, his family found out, and his wife and mother-in-law continuously pressured him, even waking him up in the middle of the night to sell the coins. It’s hard to imagine how the 480,000 brother endured those days and nights.
After a significant rise in 2013, Bitcoin fluctuated for the next two years. In 2015, Bitcoin fell to $175, and friends in the forum mocked him, saying he lost his house and his investment. The 480,000 brother, who was in a state of anxiety and panic every day, could no longer hold on.
Finally, in 2016, after enduring for two years, the 480,000 brother ultimately could not withstand the test of time. Just before Bitcoin took off, he sold all his bitcoins at a price of 3,000 yuan (over 400 USD) each. After two years of waiting, he lost 180,000 yuan.
However, just after the 480,000 brother cut his losses and left the market, Bitcoin reached a historical high in the following year, hitting 130,000 yuan each.
If measured by today’s coin price, the value of those 100 bitcoins is now close to 56 million yuan.
This is a real experience of an ordinary person who sold their house and went all in.
So even today in the bull market, I still do not recommend anyone to sell their house and go all in, for three reasons:
So far, I have only heard of two predecessors in the crypto circle who successfully sold their houses and went all in, such as CZ, and their understanding and psychological quality are not comparable to ordinary people. Too many people have once possessed large amounts of wealth, but unfortunately, those who can maintain their wealth are rare. Having experienced wealth is more painful than never having it.
After selling your house and going all in, the pressure you face is unimaginable for ordinary people. The concealment and reassurance to your family, the acceptance and confidence in the fluctuations, the ridicule from others, the compression of quality of life—under such pressure, there will come a moment when you waver and doubt yourself. This moment is the beginning of your logical collapse.
All the "go all in" comments come from regret after a big rise. But if you really do this, and then experience another FTX, 312, or 519, your risk tolerance will completely drop to zero, unless, like me, the funds you use to go all in are just a small part, and you can fully bear the risk of losing it all.
All in all, I think it can be summarized in eight words, and this is how I replied to my family member—
"Believe in cause and effect, abandon illusions!"
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