"I often hear my friends around me sighing about being born at the wrong time, having missed out on Taobao in 2008, WeChat in 2013, and TikTok in 2018. However, a broader world is unfolding before us. Web3 offers unlimited opportunities for young people: whether it's giants like SBF or ordinary people like us, we 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 to give back to his alma mater" sparked heated discussions on social media, with constant speculation among the public. "Son of Tencent CTO Zhang Zhidong," "Founder of Singapore's ABD Capital," "CEO of a certain company," these seemingly solid comments attempt to portray this young celebrity as a so-called second-generation rich kid. Today, this article will delve into the true experiences of this self-made genius—Zhang Yufeng. Zhang Yufeng's online name is @octopusfeng, hereinafter referred to as oct.
Chapter One: A Glimpse into the Path—Engaging in Trading, Deep Learning#
Despite the various opinions online about oct's true identity and industry background, there is one consensus: oct graduated from Shenzhen University with a major in International Trade in the Class of 2018. In the current severe economic and employment situation, the stark contrast between "donating 50 million" and "only two years after graduation" stimulates the nerves of every netizen. It is understandable that many people no longer believe in modern self-made success stories, instead accepting tailored labels of second-generation rich kids or second-generation entrepreneurs for him. However, those familiar with oct and the web3 field know that this speculation is unfounded, as he is actually a legendary cryptocurrency trader who once worked at the well-known exchange FTX.
Rewind to 2018, when oct had just entered Shenzhen University and, like most people, lacked a clear plan for the future. Whenever he recalls this period, oct feels a deep sense of emotion, as he held strong preconceived notions about trading, especially cryptocurrency trading. Perhaps influenced by some unfair media reports on asset trading in the country, oct once believed that all traders, including Buffett, were engaging in high-risk speculation, while some hedge funds profited solely from their capital scale advantages. "Pure gambling" was the negative first impression that trading left on young oct.
Fast forward to the end of 2020, news like "#Bitcoin surged 300% throughout the year, once approaching $30,000" began to enter mainstream view. Unlike the dismissive attitude of most people, oct chose to set aside his prejudices and began to study and attempt to invest in #cryptocurrency. Little did he know, the wheels of fate were quietly turning at that moment.
If traders can be divided into doers and thinkers, oct undoubtedly belongs to the former. Even after making his first "six-figure" profit by investing in U.S. stocks like Bilibili and Hong Kong stocks like Xiaomi, oct still decided to invest all his funds into cryptocurrency. It is well known that the financial market follows the rule of the survival of the fittest, and the cryptocurrency field is even more fraught with thorns; oct was like a cheetah holding its breath and lurking. After months of exploration, he locked onto his first target—$SOL. With the deep research habits developed during his internship in the primary market, oct conducted a comprehensive analysis of the cryptocurrency track and SOL, and after confirming, he went all in with all his funds.
It is worth mentioning oct's investment research approach: similar to primary market analysis, he started from the macro cryptocurrency market. He believed that the Ethereum smart contract system was a great achievement of blockchain, but the high gas fees were a significant obstacle to its development. "Like New York, bustling yet congested." Therefore, a public chain capable of running smart contracts with low gas fees became oct's target. After narrowing down the options, there were still many candidates, and oct filtered them from two angles:
(1) He believed that whether a cryptocurrency had a "strong whale" determined the direction of the target, as the token's concept and price trend are independent, and SOL had strong support from FTX. In addition, oct thought "SOL would become FTX's sharpest spear," because a controllable high-quality public chain is crucial for exchanges, such as BNBChain for Binance and OKChain for OKX (then known as OKEX), so FTX would definitely support SOL vigorously.
(2) Builders have a keener sense than traders and can perceive the development of public chains in real-time. Every entrepreneurial builder bets everything, and a slight misstep can lead to total failure, so they will desperately choose the most promising public chains. The hackathons for SOL, whether formal or informal, had the highest quality among public chains.
At this point, oct's operations had not yet made him stand out. Anyone who has experienced buy and hold knows that the real difficulty lies in holding onto depreciating positions during the long hodl. Oct also faced this choice: after buying SOL with all his funds at the beginning of 2021, SOL continued to decline, repeatedly falling below $1. Reflecting on this experience, oct admitted that the significant drawdown severely affected his work and life, and he struggled for a long time with the impulse to "cut losses." Ultimately, fate favored oct, as SOL surged after a long period of consolidation, skyrocketing from the $3 buying point to over $200. At this point, oct, who had already made a huge profit, gradually began to cash out. After this battle, oct's assets soared to the tens of millions.
Although today, with oct's success, this all-in strategy, which involves an element of luck, may not impress every similar experiencer, especially those who believe that "going all in is wisdom" but endure drawdowns as diamond hands. However, it cannot be denied that, looking back through the rearview mirror, oct always manages to navigate through the fog, moving accurately through the dangerous rapids...
(Continued)
[To be continued] Source of the story: 0xbeyondlee.eth
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