During my recent investments, I found myself swinging between impatience and apathy. Either I completely ignored information from blockchain projects or I blindly trusted every piece of information I received, fearing that I might miss out on any potential opportunity to get rich. The former approach didn't make any money, but it at least prevented me from losing any, whereas the latter approach had a high probability of losing me a lot of money. I needed to reflect on this mindset and realize that I should conduct in-depth research on each project before making any investment decisions, rather than worrying about missing out by investing too late.
For example, when it came to the arbDoge project, I based my investment on the fact that I could own a lottery ticket by depositing 100 coins, overlooking its "tugou" (a term used to describe lower-quality projects in the Chinese blockchain community) attributes and the 15% deposit fee. This led to my worry when I didn't have enough money to pay for the lottery ticket and my eagerness to sell the coins as soon as they went up in value.
Similarly, with gosleep, I didn't research the project upgrade rules properly and blindly believed what other people in the group said about being able to generate rooms at level 10, leading to me hoarding a large amount of NGT and ZZZ, which carried more risk than reward.
These behaviors reflected my impatience when it came to investing and my desire to get rich while being lazy. The reality is that there is no such thing as a free lunch. When the capital is limited, what I need is patience and more patience. Even if I miss out on many opportunities due to slow reactions, caution is necessary for sustainable investments.
Therefore, I want to title this chapter "Hunter and Prey." Either become a hunter or become prey for other hunters. Be cautious and logical, do a broad project collection first, and then conduct thorough research. It's better to participate in fewer projects at a slower pace and increase the investment success rate. The Investment success rate is the holy grail of compound interest.