I am 30 years old this year. Recently, some changes have occurred at home, prompting me to reflect on the first half of my life. While flipping through photo albums, I organized my journey in the cryptocurrency world over the past few years.
This is a story about how I accumulated 11 million from scratch, only to end up in debt.
(This story is purely true; any resemblance to real persons or events is purely coincidental.)
Back then, I was still a sunny and cheerful young person. 🫡
In June 2019, a friend I hadn't contacted in years asked me if I knew about Bitcoin and forwarded a bunch of reports from CCTV news. At that time, I felt this was a good thing: decentralized, an emerging phenomenon, and holding it long-term would definitely make money.
Then, he recommended a software called PlusToken, explaining that simply holding coins had limited profits, but through PlusToken's "electronic dog" feature, one could arbitrage by taking advantage of exchange price differences. At first, I thought it sounded like a scam, but with a sense of luck, I bought 3 Ethereum from Huobi, spending 5,000 yuan. But soon I noticed something was off.
Why did I feel something was wrong? First, the atmosphere in the group was extremely abnormal; members seemed brainwashed, only able to say good things and not question anything. The invitation structure was similar to a pyramid scheme, and there were high withdrawal fees (about a month's interest), giving a feeling of "I want interest, he wants principal." The most suspicious part was that the address for the electronic dog arbitrage had not 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—this was clearly a scam.
Sure enough, about a month later, the software crashed. I thought it had run away, and my heart sank, feeling that my 5,000 yuan was definitely gone. Unexpectedly, it recovered, and I quickly withdrew the 3 Ethereum back to Huobi. From then on, I began to study the cryptocurrency world and learned how to trade cryptocurrencies. Previously, I bought Ethereum directly with yuan, not knowing what USDT was. This marked my official entry into the cryptocurrency career.
At that time, I didn't know much about Ethereum; I was somewhat naive, pursuing faith and believing in the value of decentralization, thinking Bitcoin was the true core asset. So, I exchanged the 3 Ethereum for Bitcoin and added to my position: cutting losses on a stock I bought for 50,000, which had dropped to 30,000, and using my salary to average down (at that time, I was working in new media, earning over 20,000 a month). I invested a total of about 50,000 yuan to buy 0.62 Bitcoin. But after buying, the price continued to fall.
Later, I uninstalled the software until March 12, 2020, during the pandemic, when I saw news saying Bitcoin had plummeted. I logged into the Huobi website and found my balance was less than 10,000 yuan—50,000 turned into 10,000, and I collapsed instantly. Fortunately, I had a salary income and didn't pay much attention to this money, turning instead to making short videos.
What goes up must come down, and what goes down must rise.
2020 was the lowest point for Bitcoin, but also a year of takeoff, and I rose in that year, like a fledgling spreading its wings, a spark igniting a prairie fire.
At the beginning of 2020, when the pandemic was at its worst, the short video trend exploded. My account gained over 200,000 followers just a few days after registration, and the income was considerable. Every day was spent making videos or enjoying life, and my weight soared to nearly 150 pounds, completely forgetting about Bitcoin. Until later, I heard the news of Musk promoting Bitcoin and re-downloaded Huobi to check my account—stunned! 10,000 turned into 200,000! This thing was so profitable! The blockchain revolution!
It was winter 2020 or early 2021. Bitcoin was worth 200,000, and with my short video savings, my total assets were about 300,000 to 400,000. After that, Bitcoin continued to rise, and short videos were still profitable! My assets reached over 500,000, and I felt like a child of the era, with high awareness, having hit the trends of short videos and blockchain. I felt invincible! Born to be rich! I wanted to trample on those who looked down on me. An inflated mindset began to sprout, lasting until May.
On May 8, 2021, while riding the subway, I saw on Douyin that Musk was promoting SHIB. Having missed out on Dogecoin, I didn't want to miss SHIB. That night, SHIB was listed on Huobi, and my Bitcoin increased to 0.87 through swing trading. As SHIB rose, I went all in, making over 100,000 in one night. Within three days, my 300,000 principal turned into 600,000. I was going crazy! The first time playing altcoins, I dared to go all in on a meme coin! From that moment on, I completely changed.
After making this money, I no longer cared about short videos—even though I could earn several thousand a day selling books. Trading coins could fluctuate 100,000 in one night; who cared about that little money? After tasting the sweetness of quick money, I looked down on everyone who earned money through labor, considering myself a child of the dimension, a frontier human! SHIB became my faith! Go all in! Go all in! Go all in!
Joy turned to sorrow. When Vitalik donated SHIB, it caused a crash, and then the 519 incident broke out. My 600,000 shrank to 300,000, and I was stunned. Fortunately, I had been monitoring the market every night, so I didn't lose too badly, but I was paralyzed at high positions. This experience led me to meet my second benefactor in the cryptocurrency world (the first was the friend who taught me to use PlusToken).
At that time, there was nowhere to vent my SHIB faith, so I joined some brainwashing QQ groups to find resonance and met an older brother (benefactor). He mentioned LEASH (the dog leash), which was better than SHIB and had more potential, but needed to be bought with a TP wallet. I began to study wallets, withdrawing from exchanges, and operating on Uniswap, which laid the groundwork for my later immense wealth.
This older brother was active in multiple groups collecting information, and I learned that early buyers of coins like SHIB and PIG had made a fortune. On his recommendation, I started buying meme coins and taught him how to use the TP wallet on Uniswap. But I basically lost money, also buying BSC chain's Baby Doge, PEPE, etc., and joining faith groups. Some coins I bought couldn't be sold, and later I learned they were scams. The gears of fate began to turn violently until that day in July.
July 3, 2021, is a memorable day. The benefactor recommended STARL meme coin, claiming it was developed by WOLF (the developer of LEASH). I believed him and, based on my earlier experience, skillfully opened the TP wallet, entered the contract on Uniswap, and exchanged 0.3E for STARL. The gears of fate shook violently.
I have a habit: if I believe in something, I go all in; if I don't, I resolutely avoid it, seeing things in black and white. But this was wrong—philosopher Camille Pirotte once said, "The world is neither black nor white, but a delicate gray." At this point, I felt the wallet was the true blockchain, transferring all assets into the wallet and increasing my position in STARL. From then on, I developed the habit of refreshing the TP wallet, not looking at K-lines; the fluctuations in numbers were incredibly stimulating, and I felt uncomfortable if I didn't check it for a while.
Later, the coins developed by WOLF began to fall; the more they fell, the more I added to my position, competing with group friends to see who bought more. Eventually, I sold SHIB and LEASH, going all in on STARL. At that moment of going all in, I felt both immensely satisfied and anxious—if I lost, it would be over. I began to cut losses, selling and buying, buying and selling, and after all the turmoil, I was left with 30 billion, turning from profit to loss, shrinking from 400,000 to 200,000. This month was torturous until July 25.
On the evening of July 5, 2021, I picked up a kitten and named it "Fortune"—because I had become wealthy! Opening the TP wallet showed 800,000, and my hands trembled. I refreshed desperately: 1 million! My first million! I was going crazy, feeling like a child of the dimension! My ancestors' graves were smoking! How many people could make a million so quickly? But this was just the beginning; this coin was riding the wave of the metaverse concept.
In the following days, I hardly slept; refreshing the TP wallet was too stimulating: 1 million doubled to 2 million, 3 million, 3.66 million! Fluctuating tens of thousands in a conversation, money became just a number. Besides refreshing the wallet, I was boasting in the faith group, brainwashing, and strengthening consensus. I created a tutorial for buying STARL with the TP wallet, listening to my group friends' "Starlink Song," feeling like the white-haired player one, the metaverse was home, grasping the pulse of the era! Wealth was in front of me! In extreme madness, the reversal came.
Yes, it started to crash. The day before, I was still shouting, "Who else! The metaverse is the future," and in the blink of an eye, it turned into "The metaverse is a scam, blockchain is a scam, the metaverse game can't be made!" Watching the continuous decline, I panicked. When it fell to 1.2 million (my bottom line, needing to protect a double profit on 600,000 principal), I liquidated everything.
After liquidating, I felt at ease, though unwilling. I withdrew 600,000 to my bank card, preparing to buy a car, torn between an Audi S4 and a BMW 330i, ultimately choosing the latter. On the way to pick up the car, something happened.
My older brother, who was with me, said Ethereum could still rise, and buying a car now would be a loss; it was better to buy ETH. I listened to his advice, and after leaving the store, I went to the bank to get a U shield (needed for large transfers), transferring 600,000 to a U merchant to exchange for chips, buying ETH to continue. In the short term, it seemed wise, but in the long term, it became the source of my losses.
[To be continued] Source of the story: Wang Duan Niao 🐦
OKX Activities This Month#
New users registering on OKX this month can receive a blind box or Dogecoin gift package. Domestic users can register directly: Click here –> Jump to the official website to register an OKX account; some regions may need a VPN or alternative link
🔥 Solving the Issue of Accessing OKX Exchange from China#
Many exchanges' original domains may be restricted, or servers overseas may cause slow access. Ordinary users often mistakenly think the platform has problems, but it is actually due to the network environment. To address this situation, exchanges like OKX and Binance regularly update backup domains to ensure users can access the official website through alternative addresses.
-
- OKX backup domain Overseas OKX - requires VPN or alternative link
-
- Binance backup domain Binance
-
- Bitget backup domain Bitget
-
- Bybit backup domain Bybit/Bybitglobal
-
- Huobi HTX backup domain Huobi (Huobi/HTX)
-
- Gate.io backup domain Gate.io (Zhi Ma Kai Men)
🔥 Related Reading#
2025 China's Top Ten Virtual Currency Trading Platforms Latest Ranking Released 🔥【Worth Collecting】
🔥 Alpha Finds Useful Tools for Meme Coins#
1️⃣ Axiom Dog Coin Tool https://axiom.trade
2️⃣ Gmgn Dog Coin Tool https://gmgn.ai
3️⃣ dbot Dog Coin Tool https://app.debot.ai
4️⃣ Morelogin Multi-Account Fingerprint Browser www.morelogin.com
Everyone is Searching#
Buying Bitcoin in China, cryptocurrency trading exchanges, downloading and registering OKX, domestic OKX recharge, Binance App registration, Binance App download, Binance platform coin buying tutorial, Binance registration, Binance airdrop registration, Binance iPhone download, how to buy presidential coins, how to buy Dogecoin, buying Bitcoin with RMB, how to download OKX, web3 airdrop, web3 zero airdrop, downloading and registering Bitget in mainland China, OKX passport registration, downloading OKX, Binance download, cryptocurrency side business, OKX contracts, how to recharge RMB on OKX, how to recharge OKX, how to create an NFT wallet, how to recharge RMB on Huobi, cryptocurrency beginner tutorial, btc8848.com, Tony's contract trading principles, contract leverage bit wave, DeFi mining, cryptocurrency airdrop, can cryptocurrency airdrops still be played, what to do if a contract is liquidated, how to buy presidential coins on OKX and Binance, how to buy Ethereum on OKX and Binance, how to play DeFi staking mining, can NFTs still be played, how to play web3 airdrops, how to play web3 zero airdrops, how to strike inscriptions, how to strike runes, cryptocurrency novice entry, how to trade coins, can trading coins make money, cryptocurrency beginner tutorial btc8848.com, does trading coins make money, what is contract leverage, DeFi mining, how to play cryptocurrency airdrops, OKX airdrop, node staking, liquidation, financial freedom, night investment heiyetouzi.xyz