"My friends often complain about being born at the wrong time, missing out on Taobao in 2008, WeChat in 2013, and TikTok in 2018, but greater opportunities are right in front of us. Web3 offers unlimited possibilities for young people: from SBF to ordinary individuals, everyone should bravely leap into the tide and embrace change."
On September 27, the news that "a student from Shenzhen University, Class of 2018, donated 50 million yuan back to his alma mater" sparked heated discussions on social media, leading to various speculations. Comments like "son of Tencent CTO Zhang Zhidong," "founder of Singapore's ABD Capital," and "CEO of a certain company" attempted to portray him as a wealthy second-generation. This article will delve into the story of this self-made genius—Zhang Yufeng. Zhang Yufeng, known by the pseudonym @octopusfeng, will be referred to as oct hereafter.
Chapter 1: A Glimpse into the Path—Engaging in Trading, Deep Learning#
Despite the various opinions online about oct's true identity and industry, the consensus is that he graduated from Shenzhen University with a degree in International Trade in 2018. Against the backdrop of a severe economic and employment situation, the stark contrast between "donating 50 million" and "just two years after graduation" stimulates every observer. Many no longer believe in self-made success stories and instead accept the narrative of wealthy second-generation or entrepreneurial second-generation individuals. However, those familiar with oct and web3 know that he is a legendary crypto trader who once worked at the well-known exchange FTX.
In 2018, when oct just entered Shenzhen University, he lacked a clear plan for the future. Reflecting on the past, he lamented that he had a strong aversion to trading, especially crypto trading. Influenced by biased reports from domestic media, he believed that traders, including Buffett, were engaging in high-risk speculation, and that hedge funds made profits solely based on capital advantages. "Pure speculation" was the initial impression of trading for young oct.
By the end of 2020, news like "#Bitcoin surged 300% throughout the year, once approaching $30,000" entered the mainstream view, but most people dismissed it. Oct, however, discarded his prejudices and began to study and invest in #crypto. The gears of fate began to turn.
Traders can be divided into doers and thinkers, and oct belongs to the former. Although he earned his first "six-figure" sum by investing in US stocks like Bilibili and Hong Kong stocks like Xiaomi, he still chose to invest all his funds into crypto. The financial market follows the principle of survival of the fittest, and crypto is particularly perilous, while oct resembled a cheetah holding its breath for a long time. Months later, he locked onto his first target—$sol. With the deep research habits developed during his internship in the primary market, oct conducted a comprehensive analysis of the crypto track and sol, confirming his decision to go all in.
Oct's investment research approach is similar to that of the primary market: starting from the macro perspective of crypto. He believes that the Ethereum smart contract system is a great achievement of blockchain, but high gas fees hinder development. "Like New York, expensive and congested." Therefore, a public chain capable of running smart contracts with low gas fees became his target. After narrowing down the options, he filtered them from two angles:
(1) The "strong hands" in crypto determine the direction of the assets, and the token concept is independent of price trends. Sol has strong support from FTX, and "sol will become FTX's sharpest spear," because a controllable and excellent public chain is crucial for exchanges, just like BNBChain for Binance and OKChain for OKX (then known as OKEX), FTX must strongly support sol.
(2) Builders have a keener sense than traders and will desperately choose the best public chain. The quality of sol's hackathon is the highest among public chains.
At this point, oct's operations had not yet stood out. The difficulty of buy and hold lies in maintaining positions that are depreciating. After buying sol with all his funds at the beginning of 2021, sol continued to decline, repeatedly falling below $1. The significant drawdown affected oct's work and life, and he struggled for a long time with the impulse to "cut losses." Ultimately, fate favored him, and after sol consolidated, it soared to over $200, allowing oct to gradually cash out. After this battle, his assets increased to the tens of millions.
Now that oct has achieved success, this all-in trading method, which relies on luck, may not impress everyone, especially those who believe "going all in is wisdom" but suffer from drawdowns. However, looking back, oct has always been able to penetrate the fog and stroll through the dangerous rapids...
(Continued)
[To be continued] Source: 0xbeyondlee.eth
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