A reader asked the following question in the comments section: If one can invest enough time, has strong execution ability, and has a strong desire to learn, how can one quickly go from zero to a hundred thousand dollars in the blockchain industry?
When I saw this question, I felt a bit complicated:
First, I thought that sometimes people really need luck. Sometimes the importance of luck may exceed all other factors.
I was lucky to enter this ecosystem.
Looking back to 2019 when I first started writing articles, my set Bitcoin dollar cost averaging was only $8,000 to $10,000, and the set Ethereum dollar cost averaging was only $400.
In hindsight, using less than $20,000 in capital to reach $100,000 in two years, in the market conditions of that year, would have been quite conservative.
However, time flies, and in just a few short years, that situation is no longer possible.
In today’s market conditions, although there are still many opportunities for the new generation to enter this ecosystem, can they still achieve the same returns in two years with the same effort and sweat as we lucky ones did back then?
I am not sure, and it is difficult for me to give precise advice.
However, there is a point of view that I think should apply in any era, which is an old saying:
Wealth does not rush in through the door.
I suggest that new investors who hope to enter and cultivate this ecosystem should not be too anxious when entering. It is best to have a calm and rational attitude towards the various phenomena in this ecosystem, especially towards the “get rich quick” myths.
When I entered this ecosystem, I was also inspired and excited by those get-rich-quick myths. But as time went by, I became very indifferent to those experiences. The experiences that I still find very precious, nostalgic, and motivating are the ones where I sought advice from the seniors in this ecosystem, especially when it came to the blockchain spirit, the values of the blockchain ecosystem, and the value orientation of blockchain projects.
At that time, the seniors often condescended to spend a few hours or even half a day explaining things to me because of one or two questions. They shared their understanding of value and value orientation through the history of Bitcoin, their experiences, and their understanding of how to look at a project and understand it.
As a result, today, whenever I see some of the senior’s viewpoints, I don’t need to read his words carefully, I can guess why he thinks that way and what his judgment process is.
When discussing issues with the seniors, I would forget about price fluctuations, market trends, and get-rich-quick myths, and I would look at the fundamentals of a project’s past, present, and future. I would think about whether a project’s development is in line with the trend of the ecosystem, whether its characteristics are in line with the values of the ecosystem, and whether it is a genuine blockchain project or a disguised fake.
If I can understand and figure out these issues, I can naturally judge its value when looking at a project, and I can think about its future prospects and potential. I will not panic and will even be happy to add to my position when the price of a good project plummets, and I will see unlimited brightness ahead even when the entire market is in despair.
However, if someone had asked me back then, “With your current approach and operations, how long will it take to earn XXX?” I definitely wouldn’t have been able to answer, because I couldn’t predict whether I would have the luck to earn XXX, let alone when it would happen.
But now, if I encounter such a question, I firmly believe that if one can truly invest enough time, exercise strong execution, and have a strong desire to learn, although I cannot predict when the opportunity to earn XXX will appear, such an opportunity will definitely come.