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 actual 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 for price appreciation had limited profits, but in PlusToken, you could use the electronic dog feature to arbitrage through exchange price differences. 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 foolishly, only saying this thing was good and not questioning it. The invitation structure resembled a pyramid scheme, and I had to pay high withdrawal fees (about a month's interest) to withdraw my funds, giving me 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 changed—at that time, I didn't understand hash values, but I had seen posts from experts confirming that user deposits were not 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 that 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, and 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—cutting losses from a stock that had dropped to 30,000 (originally 50,000), plus my salary (at that time, I was making over 20,000 a month in new media), totaling an investment of 50,000 yuan to buy about 0.62 Bitcoin. But after buying in, 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 too much attention to this money, so I started making short videos.
Prosperity must decline, and decline must succeed.
2020 was the lowest point for Bitcoin, but also the year it took off, and I also rose in that year. The fledgling eagle took flight, and a spark could start a prairie fire.
At the beginning of 2020, when the pandemic was at its worst, the short video boom erupted. The account I created gained over 200,000 followers in just a few days, with considerable income. I indulged in food and drink, 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 was 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 rich physique! I wanted to trample on those who looked down on me; I was making money so easily, I was bound to get rich! The seeds of inflation began to sprout, lasting until May.
On May 8, 2021, while riding the subway and scrolling through Douyin, I saw Musk promoting SHIB. Having missed out on Dogecoin, I didn't want to miss SHIB. That night, SHIB was listed 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—though I sold books for several thousand a day, trading coins could make 100,000 in one night, with fluctuations of several tens of thousands. I looked down on the small money from Douyin. After tasting the thrill of quick money, I looked down on everyone who earned 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!
Just when I was ecstatic, something went wrong. Vitalik's donation of SHIB triggered a crash, followed by the 519 incident, and my 600,000 dropped to 300,000 overnight, reverting to my original state. I was a bit dazed; since I had been monitoring 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 no outlet 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 and had greater potential, 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 the immense wealth that would follow.
This older brother (benefactor) was active in multiple groups collecting 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 incurred losses. I also bought some BSC gems and PEPE, joined faith groups, and ended up with some coins that couldn't be sold (later learned they were from a scam). 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, easily opened the TP wallet and exchanged for 0.3E of STARL on Uniswap. The gears of fate shook violently.
I have a problem: I go all in when I’m optimistic and resolutely avoid when I’m not, thinking in black and 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 holdings of STARL. This developed into a habit of constantly checking the TP wallet; I didn't like looking at candlestick charts, as 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 drop, and the more they fell, the more I bought, competing with group friends to see who could buy more. In the end, I sold SHIB and Leash and went all in on STARL. At that moment of going all in, I felt both immensely satisfied and anxious—if it crashed, it would be over. I started cutting losses, selling and buying again, 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 kitten and named it "Fortune"—because I was getting rich! Opening the TP wallet showed 800,000, and my hands trembled. Refreshing desperately, 1 million! Wow! My first million, I went crazy! I wasn't a child of fate; I was a child of the dimension! My ancestors' graves were smoking! How many people could make a million so quickly! Me! But I knew this million was just the beginning, as this coin was riding the wave of the metaverse concept.
In the following days, I hardly slept, refreshing the TP wallet was too exciting—1 million doubled in an instant! 2 million, 3 million, 3.66 million. With a feather fan and a silk scarf, I casually made fluctuations of hundreds of thousands; money was just a number. Besides refreshing the wallet, I was in the faith group bragging and reinforcing 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 right in front of me! When I was extremely crazy, 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 it drop without any signs of stopping, I panicked. Finally, it dropped to 1.2 million (my bottom line; I couldn't let 600,000 in 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, debating 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 store with me and said Ethereum could still rise; buying a car now would be a loss, and it was better to buy Ethereum. I listened to his advice, and after leaving the 4S store, I went to the bank to handle the U shield (which is needed for large transfers) and transferred 600,000 to the U merchant 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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