My Journey in the Crypto World: From 0 to 11 Million and Then to Debt#
I am 30 years old this year. Recently, due to family changes, I reflected on my first half of life, flipped through photo albums, and decided to organize my thoughts on the crypto world over the past few years.
This is a true story of going from 0 to 11 million and then into debt.
(This story is purely true; any resemblance is purely coincidental.)
At that time, I was still a sunny and cheerful young man 🫡
In June 2019, a friend I hadn't contacted in years asked me if I knew about Bitcoin and forwarded a bunch of introductions from CCTV news. At that time, I felt that Bitcoin was a revolutionary good thing—decentralized, emerging asset, and holding it long-term would definitely profit.
Then, he recommended the PlusToken software, claiming that simply holding coins had limited profits, but through its "electronic dog" feature, one could arbitrage between exchanges. Although I felt suspicious, I still took a chance and bought 3 Ethereum (about 5000 RMB) from Huobi. But I quickly noticed something was off.
The feeling of abnormality stemmed from the atmosphere in the group: members blindly praised it, and questioning was met with exclusion. The invitation structure resembled a pyramid scheme, and the withdrawal fees were exorbitant (about a month's interest), as if they were plotting to take the principal. Even more suspicious was that the electronic dog arbitrage address had not changed—posts from experts confirmed that user deposits were not used for arbitrage; it was clearly a scam.
Sure enough, about a month later, the software crashed, and I thought it had run away, losing 5000 RMB. Surprisingly, it recovered, and I quickly withdrew the 3 Ethereum back to Huobi. From then on, I studied crypto trading, learned how to use USDT, and officially entered the crypto world.
At that time, I didn't understand Ethereum. Driven by a youthful mindset pursuing faith, I firmly believed in the decentralized value of Bitcoin, so I exchanged 3 Ethereum for Bitcoin and added to my position: cutting losses on stocks (from 50,000 to 30,000), plus my salary (20,000 per month), 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 and found my balance was less than 10,000 RMB (50,000 had shrunk), and my mindset collapsed. Fortunately, my salary supported me, so I didn't dwell on it and turned to short videos.
What goes up must come down, and what goes down must rise.
2020 was the low point for Bitcoin, but also the year it took off, and I rose alongside it.
At the beginning of 2020, the pandemic was severe, and the short video trend exploded. My new account gained over 200,000 followers in a few days, with considerable income. I indulged in food and drink, weighing nearly 150 pounds, almost forgetting about Bitcoin. Later, I heard Musk promoting Bitcoin and quickly checked my account on Huobi—10,000 turned into 200,000! In my ecstasy, I firmly believed in 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 (totaling 300,000 to 400,000), Bitcoin continued to rise, and I made profits from short videos, reaching over 500,000 in assets. I considered myself a child of the era, having hit the trends of short videos and blockchain, and my inflated mindset began to sprout.
On May 8, 2021, while taking the subway and scrolling through Douyin, I saw Musk promoting SHIB. Having missed out on Dogecoin, I was determined to seize the opportunity to buy SHIB when it launched on Huobi. At that time, my Bitcoin trading position increased to 0.87, and that night I passionately went all in on SHIB, making over 100,000 in one night, and in three days, my principal of 300,000 doubled to 600,000. My first experience with altcoins was a full investment in a meme coin, and my mindset was completely distorted.
After that, I looked down on short videos (earning a few thousand a day), while trading coins had daily fluctuations of tens of thousands, tasting the sweetness of quick money, and despising those who earned through labor. I prided myself as a child of the dimension, with SHIB as my faith, going all in recklessly.
Joy turned to sorrow: V God’s donation of SHIB triggered a crash, compounded by the "519 incident," causing my 600,000 to shrink to 300,000. Although I stayed up late monitoring the market to reduce losses, I still suffered a high-level paralysis. But because of this, I met the second benefactor in the crypto world (the first was the PlusToken guide).
To express my SHIB faith, I joined a brainwashing Q group, where an older brother recommended LEASH, claiming it had greater potential and needed to be purchased with a TP wallet. I researched wallet withdrawals and Uniswap, laying the groundwork for future wealth.
This benefactor mingled in many groups to gather information, informing me that early wallet buyers of SHIB, PIG, etc., became rich. Following his recommendation, I started buying meme coins, teaching him how to use the TP wallet and Uniswap, but incurred many losses. I bought BSC Baby Doge, PEPE, etc., joined faith groups, and even mistakenly bought a Pixiu scheme (a scam that couldn't be sold). The wheels of fate began to turn.
On July 3, 2021, the benefactor recommended STARL meme coin (developed by Wolf, founder of LEASH). Based on my experience, I used the TP wallet to exchange for 0.3 ETH of STARL, and the wheels of fate shook violently.
I was used to thinking in black and white: if I believed in something, I would go all in; otherwise, I wouldn’t touch it. But philosopher Camille said, "The world is not black and white, but a delicate gray." At this time, I viewed the wallet as the true blockchain, storing all assets in the wallet, continuously adding to my STARL position, developing a habit of checking the TP wallet (the digital fluctuations were stimulating; not checking felt uncomfortable).
As STARL continued to decline, I kept buying more as it fell, comparing my holdings with group friends. Eventually, I cleared out SHIB and LEASH and went all in, feeling instant satisfaction yet anxious. After repeatedly cutting losses and buying in, I ended up with 30 billion STARL, losing from 400,000 to 200,000, enduring a month of torment.
On the night of July 5, 2021, I adopted a cat and named it "Fortune," as my TP wallet suddenly showed 800,000! After refreshing, it reached 1 million—my first million in life. I considered myself a child of the dimension, with my ancestors' graves smoking. But I knew this was just the beginning, as STARL rode the wave of the metaverse concept.
In the following days, I slept little, checking the wallet for stimulation: 1 million doubled to 2 million, 3 million, 3.66 million. I viewed money as just a number, boasting and brainwashing in the group, creating a TP wallet tutorial for buying STARL, listening to "Starlink Song," comparing myself to the main character of a top player. When I was at my most insane, the reversal came.
The crash began. The day before, I had shouted, "Who else! The metaverse is the future," but in an instant, I cursed, "The metaverse is a scam! The blockchain is a scam!" There were no signs of stopping, and I panicked when it hit 1.2 million (the bottom line profit), clearing out and leaving the market.
After clearing out, I felt secure but unwilling, withdrawing 600,000 to buy a car (torn between Audi S4 or BMW 330i). I changed my mind on the way to pick up the car.
My older brother accompanied me and advised that Ethereum would rise, and buying a car would be a loss. I listened to the advice, left the store, arranged for a U-shield large transfer, and exchanged 600,000 for USDT to buy ETH to continue the battle. Short-term wise, but long-term a landmine.
[To be continued] Source of the story: Wang Duan Niao 🐦
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