I've seen several KOLs posting about their liquidation screenshots and debt stories recently, and it reminded me of a friend who asked to borrow money from me a while back—also because he lost everything trading crypto. This guy is super smart. Back in my 20s, when I was still a broke PhD student, he already had luxury cars and a fancy house. Apparently, he was making millions annually from sales commissions. Even when the traditional industry started to decline, he had already accumulated enough capital for a comfortable life. A few years ago, he kept asking me to teach him how to buy crypto. My advice was straightforward: just buy Bitcoin, don’t touch anything else. At first, he bought a few million dollars worth of $BTC, caught the wave from $30K to $100K, and made millions. But he wasn’t satisfied and kept asking me to recommend altcoins, which I refused. Then one day, he suddenly told me he had lost everything because he joined a crypto trading group on Weibo. The group leader was guiding trades on small altcoin contracts. He ended up losing tens of millions—his entire fortune. How could he not realize that these KOLs leading trades on small coins, if they were really that skilled, wouldn’t need to charge group fees? Being broke isn’t scary, because when you’ve hit rock bottom, there’s nowhere to go but up—opportunities are everywhere, and you can always start over. When you’re truly wealthy, your mindset becomes stable because your assets are diversified across high, medium, and low-risk investments, making it easy to stay undefeated. The scariest stage is when you’re moderately wealthy—not enough for complete financial freedom, but you start thinking you’re invincible. Like the time I angrily asked my friend why he wouldn’t listen to me and insisted on trading altcoins. His answer shocked me. He said, "If I only hold $BTC like you, I’ll never surpass you." Me: ??? Later, I thought about it and realized his perspective made sense—it represents a certain group of people. Every generation has its own opportunities, and the best ones often come from places the previous generation couldn’t see. You don’t necessarily have to follow others or stick to $BTC. But the key is knowing what *not* to do. That’s where you really need to listen to advice. The previous generation may not help you get rich, but they can definitely help you avoid losing everything!