The real experience of going from zero to ten million in the cryptocurrency world and then to a debt of one hundred thousand.

My Journey in the Crypto World: A True Experience from Millions to Heavy Debt#

This year, at thirty, family changes made me reevaluate my life trajectory. While sorting through old photo albums, those trading screenshots of crypto assets pulled me back to the tumultuous years in the crypto world—this is the true story of how I accumulated 11 million from scratch, only to fall into the abyss of debt.

First Encounter with the Crypto World (2019)#

In June 2019, an old friend I hadn't seen in a long time suddenly sent me a report from CCTV about Bitcoin. At that time, I had just come across the concept of "decentralization" and invested 5,000 yuan to buy 3 ETH in the PlusToken software recommended by him. This platform, which claimed to arbitrage across exchanges through "electronic dogs," quickly revealed its essence as a pyramid scheme: the community silenced doubts, high withdrawal fees, and abnormal fund flows... When the platform first crashed, I decisively transferred my assets back to Huobi, thus starting my real journey in the crypto world.

Faith-Building Period (2019-2020)#

After clearing out the altcoin platform, I began to systematically study blockchain technology. Deeply shocked by Satoshi Nakamoto's white paper, I resolutely exchanged 3 ETH for BTC and continued to increase my holdings to 0.62 BTC (with a total investment of 50,000 yuan). However, on March 12, 2020, "Black Thursday," my account shrank to below 10,000 yuan. Coincidentally, as the pandemic broke out, I unexpectedly became popular in the short video field, and a stable income of over 20,000 yuan per month temporarily diluted the investment gloom.

The Season of Sudden Wealth (2021)#

Elon Musk's endorsements were like a magic flute; when I checked my account at the end of 2020, 10,000 miraculously turned into 200,000! Combined with my short video income, my total assets exceeded 500,000. At this time, I prided myself as a "windfall hunter," fully investing in SHIB on the night it launched on Huobi, and the 600,000 profit in three days completely ignited my gambling nature. When Vitalik Buterin's donation of SHIB caused a crash, the lesson from the 300,000 market value loss led me to meet the "noble person" who would change my fate.

The Illusion of the Metaverse (2021)#

Through the crypto community, I came across the STARL project, a so-called "metaverse infrastructure" meme coin that sent me into a frenzy. From testing the waters with 0.3 ETH to betting my entire account, my balance peaked at 3.66 million on July 25. In the madness of refreshing the TP wallet day and night, I created tutorials and community songs, seemingly becoming a "metaverse evangelist." However, when the project team’s promises fell apart, I painfully cleared my holdings at the 1.2 million mark.

The Abyss Turning Point#

When I was about to withdraw 600,000 to buy a car, I was persuaded to invest in ETH instead. This "wise decision" turned out to be the beginning of a nightmare: leveraged contracts, NFT staking, cross-chain mining... every "wealth code" turned into a meat grinder. The collapse of LUNA in 2022 became the last straw, and after my 10 million market value went to zero, I ended up owing 100,000 in debt.

[To be continued] Story source: Wang Duan Niao 🐦

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