This year, at 30 years old, I reflected on my first half of life due to recent family changes, and after flipping through photo albums, I organized my journey in the cryptocurrency world over the past few years.
This is a true story of going from zero to 11 million, and then to debt.
(This story is purely true; any resemblance to real events is purely coincidental.)
At that time, I was still a sunny and cheerful big boy🫡
In June 2019, a friend I hadn't contacted in years asked me if I knew about Bitcoin and forwarded a bunch of CCTV news introductions about Bitcoin. At that time, I felt this was a good thing: decentralized, a new thing, and holding it long-term would definitely make money.
Then, he recommended a software called PlusToken, explaining that simply holding coins had limited profits, but through its "electronic dog" feature, one could arbitrage by taking advantage of exchange price differences. Initially, I thought it sounded like a scam, but with a sense of luck, I bought 3 Ethereum from Huobi (costing 5000 RMB) and invested in it. Soon, I noticed something was off.
The feeling of abnormality stemmed from the extremely radical atmosphere in the group chat—only praise was allowed, and questioning was not. The invitation structure resembled a pyramid scheme, and withdrawing funds required paying high fees (about a month's interest), as if the other party was after the principal rather than the interest. More suspiciously, the electronic dog arbitrage address had not changed; although I didn't understand hash values at the time, I had seen posts from experts confirming that user deposits were not used for arbitrage, which was clearly a scam.
Sure enough, about a month later, the software crashed, and I thought it had run away, losing 5000 RMB. Unexpectedly, after it recovered, I immediately withdrew the 3 Ethereum back to Huobi and began researching cryptocurrency trading. Previously, I had bought Ethereum directly with RMB and didn't know what USDT was, officially stepping into the crypto world from then on.
At that time, I didn't have a deep understanding of Ethereum; due to my personal nature, I pursued faith more, firmly believing in the value of decentralization and thinking Bitcoin was the true value. So, I exchanged 3 Ethereum for Bitcoin and added to my position: cutting losses on stocks (buying at 50,000 turned into 30,000), plus my salary (at that time, I was making over 20,000 a month in new media), totaling an investment of 50,000, holding 0.62 Bitcoin. Unexpectedly, after buying, it continued to decline.
After uninstalling the software, on March 12, 2020, during the pandemic, the news reported that Bitcoin had plummeted. I logged into Huobi to check my balance, and the 50,000 had shrunk to less than 10,000; I was devastated. Fortunately, I had my salary to support me, so I didn't pay too much attention and turned to short video creation.
What goes up must come down, and what goes down must rise.
2020 was the lowest point for Bitcoin, but also the year it took off, and my life took off simultaneously—like a fledgling eagle spreading its wings, a spark igniting a prairie fire.
At the beginning of 2020, when the pandemic was at its worst, the short video trend exploded. My account gained over 200,000 followers in just a few days after registration, and the income was considerable. My daily routine consisted of making videos and enjoying life, and my weight soared to nearly 150 pounds, almost forgetting about Bitcoin. Until the news said Elon Musk was promoting Bitcoin, I downloaded Huobi to check my account and was shocked—10,000 turned into 200,000! This thing was so profitable! The blockchain revolution!
By the end of 2020 and the beginning of 2021, Bitcoin was valued at 200,000, and with my short video savings, my total assets reached 300,000 to 400,000. As Bitcoin continued to rise and short videos became profitable, it increased to over 500,000. I considered myself a child of the era, with high awareness, having hit the trends of short videos and blockchain; I felt like a god! Born with a rich physique! This inflated mentality began to sprout, lasting until May.
On May 8, 2021, while taking the subway and scrolling through Douyin, I saw Musk promoting SHIB. Having missed out on Dogecoin, I didn't want to miss SHIB again, so that night SHIB was listed on Huobi. At that time, Bitcoin had increased to 0.87. When SHIB was rising, I passionately went all in, making over 100,000 in one night, and within three days, my 300,000 principal turned into 600,000. I had completely lost my mind, daring to go all in on a meme coin for the first time.
After making this profit, I no longer cared about short videos (even though I was earning a few thousand a day). Trading cryptocurrencies could fluctuate by 100,000 in one night; who cared about small money from Douyin? After tasting the flavor of quick money, I looked down on all laborers earning money, considering myself a child of the dimension, a cutting-edge human! SHIB became my faith, and my mind was filled with going all in!
When joy turned to sorrow, Vitalik's donation of SHIB triggered a crash, followed by the 519 incident. My 600,000 shrank to 300,000, bringing me back to reality. Because I had been monitoring the market every night, I didn't suffer too much loss, but I was paralyzed at high positions. However, SHIB led me to meet my second benefactor in the crypto world (the first was the PlusToken introducer).
To express my faith in SHIB, I joined brainwashing QQ groups to find resonance and met an older brother (benefactor). He recommended a coin called LEASH, claiming it was better than SHIB and needed to be purchased with a TP wallet. I began researching wallets, withdrawing from exchanges, and using Uniswap, which laid the groundwork for immense wealth later on.
This benefactor brother mingled in many groups to collect information, and I learned that buyers of SHIB, PIG, and others had all made a fortune. Following his recommendation, I started buying meme coins, teaching him how to use the TP wallet on Uniswap, but I basically incurred losses. I also bought BSC's Baby Doge, PEPE, etc., joined faith groups, and even bought a Pixiu coin (a coin that couldn't be sold). The wheels of fate began to turn violently until July.
July 3, 2021, is a memorable day. The benefactor brother recommended STARL meme coin, claiming it was developed by WOLF (the developer of LEASH), and I believed him. Based on previous experience, I skillfully opened the TP wallet and exchanged 0.3E for STARL on Uniswap. The wheels of fate shook violently.
I have a black-and-white mentality: if I see potential, I go all in; if not, I abandon it. But the world is not black and white; it is a delicate gray (as the philosopher Pierre Voltaire said). At this point, I regarded the wallet as the true blockchain, transferring all my assets into the wallet and increasing my position in STARL. I developed a habit of checking the TP wallet, not looking at K-lines, and became addicted to the stimulation of fluctuating numbers.
The coin developed by WOLF began to decline; the more it fell, the more I added to my position, competing with group friends for holdings. Eventually, I sold SHIB and LEASH, going all in on STARL. Being fully invested was both satisfying and anxious: if I failed, it would be over. After cutting losses and repeatedly buying, I ended up with 30 billion STARL, turning from profit to loss, shrinking from 400,000 to 200,000. After a month of torment, the memories still hurt. Until July 25.
On the evening of July 5, 2021, I found a kitten and named it "Fortune," as I opened the TP wallet and saw my assets had turned into 800,000! After refreshing, it reached 1 million! My first million, I went crazy—simply a child of the dimension! My ancestors' graves were smoking! But I knew this was just the beginning, as the coin was riding the wave of the metaverse concept.
In the following days, I hardly slept; checking the TP wallet was too exciting: 1 million doubled to 2 million, 3 million, 3.66 million. In the midst of laughter, fluctuations of hundreds of thousands occurred, and money became just a number. Besides checking the wallet, I boasted and brainwashed in faith groups, created a tutorial for buying STARL with the TP wallet, listened to group friends sing "Starlink Song," and compared myself to the white-haired character in "Ready Player One," saying the metaverse was home, grasping the pulse of the era! During this extreme madness, a reversal arrived.
That's right, the crash began. The day before, I was still shouting, "Who else! The metaverse is the future," and in the blink of an eye, I was cursing, "The metaverse is a scam, blockchain is a scam, games can't be made!" Seeing the continuous decline with no signs of stopping, I panicked. When it fell to 1.2 million (the bottom line of 600,000 principal, needing to secure at least double profit), I liquidated everything.
After liquidating, I felt reluctant but steady. I withdrew 600,000 to my bank card to prepare to buy a car (torn between an Audi S4 or a BMW 330i, I chose the latter). On the way to pick up the car, a change occurred.
The older brother accompanying me said Ethereum could still rise, and buying a car now would be a loss; it was better to buy Ethereum. I listened to the advice and went straight from the 4S shop to the bank to handle the U shield (needed for large transfers), transferring 600,000 to a U merchant to buy ETH. In the short term, it seemed like a wise decision, but in the long term, it became the source of losses.
[To be continued] Source of the story: Wang Duan Niao🐦
OKX Activities This Month#
New users registering on OKX this month can receive blind boxes or Dogecoin gift packs. You can register directly in China: Click here–>Go to the official website to register an OKX account; some regions require a VPN or alternative link
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Many exchanges' original domain names may be blacklisted, or access speed may be affected due to servers being located overseas. For ordinary users, this situation often leaves them feeling helpless, even doubting whether the exchange itself has issues. In fact, this is more due to the network environment rather than a service interruption from the platform itself. To address this, exchanges like OKX and Binance typically update alternative domain names regularly to ensure users can continue accessing the official website through alternative addresses.
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- Binance alternative domain Binance
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- Huobi HTX alternative domain Huobi (Huobi/HTX)
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- Gate alternative domain Gate.io (Gate)
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🔥 Useful Tools for Finding Gold Dogs#
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