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Stock trading, futures, and cryptocurrency: Behind the hierarchy of disdain lies three different life gambles.
Stock traders look down on futures traders, futures traders can't understand cryptocurrency traders, and cryptocurrency traders feel that stock traders are stuck in the old era—the hierarchy of disdain in the capital market is vividly portrayed among the three major tracks of stocks, futures, and cryptocurrencies. What seems like a difference in investment philosophy is actually three completely different life gambles.
In the eyes of stock investors, futures players are the “oddballs” with a gambling nature. With 10x and 20x leverage, they have long since departed from the realm of “investment” and are engaging in naked gambling; the rules of two-way trading allow them to hope for both rises and falls, this “cold-blooded” thinking is at odds with stock investors' “bullish faith”; more critically, stock investors can still lie flat as shareholders when trapped, while futures players are constantly chased by the countdown to liquidation, with pressure vastly different. As for cryptocurrency traders, stock investors' feelings are even more complex: they don't understand the value logic of “rootless trees,” they look down on the chaotic phenomena of “exchanges running away, projects going to zero,” yet they can't help but be curious about the crazy fluctuations that double or halve in a day, believing that the myth of wealth creation is merely a matter of luck.
But from the perspective of cryptocurrency traders, stock trading is already on a different level. They cannot understand why trading should be shackled by opening hours and price limits; 24/7 trading with no upper limit on fluctuations is the true essence of freedom; they do not trust the paper numbers in financial reports, only recognizing the unalterable code on the blockchain; they disdain the opportunities monopolized by institutions in the stock market, preferring the flat ecosystem of the cryptocurrency world where one wallet can participate in global projects. In their eyes, the 20% annual returns of the stock market are merely wealth management, while the hundredfold gains in the cryptocurrency world represent wealth creation; the baijiu banks analyzed in the stock market are old economy, while the DeFi and metaverse pursued in the cryptocurrency sphere represent the new future.