I am 30 years old this year. Recently, something happened at home that made me reflect on the first half of my life. Looking through photo albums, I 整理了币圈这几年的心路历程.
This is a story about how I went from zero to 11 million, and then into debt.
(This story is purely true; any resemblance to real events is purely coincidental.)
Back then, 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 sent me a bunch of introductions from CCTV news. At that time, I felt this was really a good thing—decentralized, a new thing, and holding it long-term would definitely make money.
He also recommended a software called PlusToken, saying that simply holding coins had limited profits, but in PlusToken, you could use the electronic dog feature to arbitrage through exchange price differences. At that time, I thought it sounded like a scam, but still, with a bit of luck, I bought 3 Ethereum from Huobi, spending 5,000 yuan. But soon I felt something was off.
Why did I feel something was off? First, the atmosphere in the group was extremely abnormal; it felt like these people were acting like fools, only saying good things about it and not questioning anything. The invitation structure resembled a pyramid scheme, and I had to pay high withdrawal fees (about a month's interest) to cash out—there was a feeling of "I want his interest, and he wants my principal." What puzzled me the most was that the electronic dog arbitrage address hadn't moved—at that time, I didn't understand hash values, but I had seen posts from experts confirming that user deposits hadn't been used for arbitrage, which was definitely a scam.
Sure enough, about a month later, the software crashed. I thought it had run away, and I felt like my 5,000 yuan was gone. Unexpectedly, it recovered later, and I quickly withdrew the 3 Ethereum to Huobi and started researching coin-to-coin trading. Previously, I had bought Ethereum directly with RMB and didn't understand USDT; from then on, I officially stepped into the crypto world.
At that time, I didn't understand Ethereum; I was somewhat naive, pursuing faith and believing in the value of decentralization, feeling that Bitcoin was the true value. So I exchanged 3 Ethereum for Bitcoin and even added more—selling stocks that had lost 30,000 (originally worth 50,000) and, along with my salary (at that time, I was making over 20,000 a month in new media), I invested a total of 50,000 yuan to buy about 0.62 Bitcoin. But after buying, it kept falling.
Later, I uninstalled the software, and when I checked my account again on March 12, 2020, during the pandemic, the news said Bitcoin had plummeted. I logged into Huobi and saw my balance was less than 10,000 yuan—50,000 turned into 10,000, and I was devastated. At that time, I had a salary and didn't pay much attention to this money, so I started making short videos.
What goes up must come down; what goes down must rise.
2020 was the lowest point for Bitcoin, but also the year it took off, and I rose in that year as well. The fledgling eagle took flight; a spark can start a prairie fire.
At the beginning of 2020, when the pandemic was at its worst, the short video boom exploded. The account I created gained over 200,000 followers in just a few days, with considerable income; I was eating and drinking lavishly, weighing nearly 150 pounds at my heaviest. I forgot about Bitcoin until the news said Musk was promoting Bitcoin. I downloaded Huobi again and checked my account, laughing crazily—10,000 turned into 200,000! This thing is so profitable! The blockchain revolution!
At this time, around the winter of 2020 or early 2021, Bitcoin was worth 200,000, and with my short video savings, I had a total of 300,000 to 400,000. Later, Bitcoin continued to rise, and short videos kept earning! My total assets exceeded 500,000, and I felt like a child of the era, with high awareness, having hit the short video and blockchain trends. I was a god! Born with a talent for getting rich! I wanted to step on those who looked down on me; I was so good at making money that I was bound to get rich! The seeds of inflation began to sprout, lasting until May.
On May 8, 2021, while taking the subway, I saw Musk promoting SHIB on Douyin. Having missed out on Dogecoin, I didn't want to miss SHIB. That night, SHIB went live on Huobi, and my Bitcoin holdings reached 0.87. As SHIB rose, I passionately went all in, making over 100,000 in one night, and in three days, I turned 300,000 into 600,000. I was so extreme; it was my first time playing altcoins, and I dared to go all in on a meme coin! I was truly amazing! From that moment on, I completely changed.
After making this money, I no longer cared about short videos—although I sold books for several thousand a day, trading coins could make 100,000 in one night, with fluctuations of several thousand; I looked down on the little money from Douyin. After tasting the flavor of quick money, I looked down on everyone who earned money through labor. I was a child of the dimension! A cutting-edge human! SHIB was my faith! Go all in! Go all in! Go all in!
When I was euphoric, trouble struck. Vitalik's donation of SHIB triggered a crash, followed by the 519 incident, and my 600,000 turned into 300,000 that night, bringing me back to reality. I was a bit dazed; since I had been watching the market every night, I hadn't lost too badly, but I was paralyzed at a high point. This time, SHIB introduced me to my second benefactor in the crypto world (the first was the one who taught me to use PlusToken).
With nowhere to express my faith in SHIB, I joined some brainwashing QQ groups to find resonance and met an older brother (benefactor). He knew about something called Leash, which was more powerful than SHIB, but needed to be bought with a TP wallet. I started researching how to buy Leash with a wallet, withdraw from exchanges, and learn Uniswap, laying the groundwork for future immense wealth.
This older brother (benefactor) mingled in multiple groups to gather information, and I learned that buying meme coins like SHIB and PIG from wallets could lead to wealth. Following his recommendation, I started buying meme coins and taught him how to use the TP wallet on Uniswap, but I basically lost money. I also bought some BSC treasures like Baby Doge and PEPE, joined faith groups, and bought some coins that I couldn't sell (later learned they were scams). The gears of fate began to turn violently until that day in July.
July 3, 2021, a memorable day. The benefactor recommended a meme coin called STARL, claiming it was developed by WOLF (the developer of Leash, very impressive). I believed him, and with my experience in meme coins, I easily opened my TP wallet and exchanged 0.3E for STARL on Uniswap. The gears of fate shook violently.
I have a problem: if I believe in something, I go all in; if I don't, I resolutely stay out—it's either black or white. But clearly, I was wrong—philosopher Camille Pirotte said: "The world is neither black nor white, but a delicate gray." At this moment, I felt that wallets were the true blockchain, putting all assets in the wallet and continuing to increase my position in STARL. This developed into a habit of constantly checking my TP wallet; I didn't like looking at K-lines; the fluctuations in numbers were stimulating, and I felt uncomfortable if I didn't check for a while.
Later, the coins developed by WOLF started to fall, and the more they fell, the more I bought, competing with group friends on who bought more. In the end, I sold SHIB and Leash to go all in on STARL. At that moment of going all in, I felt both incredibly satisfied and anxious—if it crashed, it would be over. I started cutting losses, selling and buying, buying and selling, and ended up with 30 billion left, turning from profit to loss, from 400,000 to 200,000. It was a torturous month, and thinking back on it is painful. Until July 25.
On the night of July 5, 2021, I picked up a little cat and named it "Fortune"—because I was making money! I opened my TP wallet and saw 800,000; my hands trembled. I kept refreshing, 1 million! Wow! My first 1 million, I went crazy! I am not a child of destiny; I am a child of the dimension! My ancestors' graves are smoking! How many people can make 1 million so quickly! Me! But I knew this 1 million was just the beginning, as this coin was riding the wave of the metaverse concept.
In the following days, I hardly slept; refreshing my TP wallet was too exciting—1 million doubled in the blink of an eye! 2 million, 3 million, 3.66 million. With a feather fan and a silk scarf, I casually made tens of thousands; money was just a number. Besides checking my wallet, I was boasting and brainwashing in the faith group to strengthen consensus. I made a tutorial on buying STARL with the TP wallet and listened to group friends sing "Starlink Song," feeling like the number one player with white hair; the metaverse was my home, grasping the pulse of the era, and wealth was in front of me! During this extreme madness, the reversal came.
Yes, it started to crash. The day before, my mind was filled with "Who else! The metaverse is the future," but it turned into "The metaverse is a scam! Blockchain is a scam! Metaverse games can't be made!" Watching the continuous decline with no signs of stopping, I panicked. Finally, it fell to 1.2 million (my bottom line; I couldn't let my 600,000 principal go to waste; I needed double the profit), and I cleared my position.
After clearing my position, I felt at ease, though unwilling. I withdrew 600,000 to my bank card to prepare to buy a car, torn between an Audi S4 and a BMW 330i, and chose the BMW 330i. On the way to pick up the car, something happened.
My brother went to the 4S shop with me and said Ethereum could still rise; buying a car now would be a loss, so it was better to buy Ethereum. I listened to his advice, and after leaving the 4S shop, I went to the bank to handle the U shield (needed for large transfers), transferring 600,000 to the U merchant to exchange for chips to buy ETH and continue trading. In the short term, it seemed like a wise decision, but in the long term, it was the root of my downfall.
[To be continued] Source of the story: Wang Duan Niao🐦
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