I am an old player who has experienced bull and bear markets. I once fainted in front of the computer after staring at the screen for 72 consecutive hours, and I have also faced a daily liquidation of 800,000. But what truly terrifies me is not the loss, but the realization that when I am trembling and refreshing the market at three in the morning, I feel a pathological excitement—The biggest trap in the crypto world is not the big players harvesting the small ones, but the precise exploitation of human weaknesses.
Wealth Illusion: The 'Chosen One' Dream Created by Survivorship Bias
Whenever you see news like 'Teen wins millions from Shiba Inu,' your brain automatically filters out the 99% of zero cases behind it. Data shows that in 2023, the number of global cryptocurrency users exceeded 300 million, but those who truly achieve stable profits are less than 5%.
Dopamine trap: Research shows that the peak dopamine secretion in the human brain during trading can reach 500% of normal activities, approaching drug levels.
This is exactly what the dealer hopes for - to keep you adding chips in the illusion of the 'next big win.'
My lesson: In 2021, I chased a certain Meme coin, didn't take profits when my paper gains were 200%, and the project team ran away, leaving my assets at zero. I later understood: the stories of getting rich in the crypto world are advertisements; the silent majority is the truth.
24-hour casino: The fatal pleasure of a destroyed biological clock.
Traditional markets have closing hours, but the crypto world is a perpetual motion machine of stimulation. A survey in South Korea found that 30% of young traders check market conditions more than 50 times a day, even setting alarms for the early morning.
Physiological cost: Long-term sleep deprivation leads to impaired judgment - this is why many people lose money in bull markets. I once mistakenly turned a "long" position into an "all-in short" due to continuous late-night trading during market fluctuations, leading to liquidation in half an hour.
Information anxiety: FOMO (Fear of Missing Out) is the prisoner's dilemma.
What the dealers are best at is creating an information waterfall: Twitter influencers 'precisely calling shots,' communities 'showing profit screenshots,' sudden 'major good news'...
Data reveals: A certain exchange monitored that 70% of surges were driven by fewer than 10 whale addresses, while retail investors often buy at peaks.
Solution: I now force myself to only check the market three times a day, blocking all crypto groups during other times. Less market watching leads to more profits.
Community opium: The sense of loneliness masked by collective revelry.
"HODL" and "TO THE MOON" are essentially constructing identity recognition. UK therapists found that addicted traders often lack social support in reality and turn to the crypto world for a sense of belonging.
Warning signals: When you start to despise 'friends who don't trade coins,' or think 'only crypto people understand me,' addiction has deeply rooted itself.
Sunk cost: The infinite loop of gambler's thinking.
"Lost 100,000, have to earn it back" is the most dangerous logic. Research shows that the pain of loss is twice as intense as the pleasure of profit, which is the foundation of casino design.
My stop-loss iron rule: If daily losses reach 5% of capital, immediately stop trading for a week; if I incur losses on three consecutive trades, no new positions will be opened that month.
Rebellious illusion: Escapism wrapped in 'decentralization.'
Many young people view trading coins as a challenge to the traditional system, but the truth is:
Data refutation: The top 2% of addresses control 95% of the BTC supply, with a degree of centralization far exceeding the stock market.
Awareness: Complaining about low bank interest rates while willingly paying high fees to exchanges is just exchanging one harvesting ground for another.
Instant feedback: The spiritual opium of the fast food era.
When short videos compress the patience threshold to 15 seconds, the crypto world’s "second-level fluctuations" makes people even more addicted. But this high-frequency stimulation destroys deep thinking abilities:
Research comparison: Investors holding coins for more than a year have a profit probability of over 80%, while day traders have a loss rate of over 90%.
How to save yourself: Three-step withdrawal method from addiction to rationality.
Physiological isolation: Delete trading apps from your phone; only operate on a computer; set a trade duration of ≤1 hour.
Capital limits: Absolutely do not use credit cards or online loans to trade coins; withdraw your capital immediately when profits exceed 50%.
Value return: Spend 10 hours each month learning blockchain technology itself (such as smart contract development), rather than just looking at prices.
Addiction therapists at the Craig Castle Hospital in the UK found that successful quitters often found alternative sources of achievement, such as using research skills instead of staring at the market.
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Lastly, let’s say something heart-wrenching.
The crypto world will not disappear, but your capital will. After reading this, do you still feel like making a big bet? You might as well take a test:
Can you calmly face a 50% shrinkage in assets without losing sleep?
Is there a skill that can make money without relying on trading coins?
Was the last time you laughed heartily because of a rise in coin prices?
#BTC #ETH If you're caught in confusion about your positions and don't know how to operate, follow me, and I'll use practical experience to help you avoid pitfalls, firmly protect your capital, and gradually earn profits!
