A while ago, I saw an elder sharing his experience in the square. At first, I thought it was a motivational story, but upon clicking in, I realized it was a reflection after losing all in a contract. This incident triggered some of my thoughts.

To be honest, many newcomers entering the crypto space tend to overestimate themselves. They jump straight into contracts right after getting started, and the results are predictable. My advice is to spend time understanding the fundamental knowledge system of Web3—differences between L1 and L2, the logic of the AI track, DAO governance models, practical applications of NFTs, how DeFi operates, the business models of GameFi, and even professional areas like Perp perpetual contracts and privacy tracks. The crypto world is far more than just contracts.

As long as you truly master a certain track and keep deepening your expertise, the results won't be bad. But many people do the opposite—they jump into trading contracts right away, which is very dangerous.

Think calmly: what is the essence of an exchange? A casino. And those KOLs? They survive on referral commissions and siphoning off funds, making money whether you win or lose. And you? Once you lose everything, there’s really nothing left.

What’s even more heartbreaking is that once you start playing with contracts, it’s like turning on some kind of physiological feedback—dopamine keeps driving you to continue. That thrill makes it very hard to quit. So there’s an old saying: you can advise people on eating and drinking, but don’t even bother advising them on gambling. After losing everything, the KOLs have the exchange’s referral commissions to fall back on. And you?