I am 30 years old this year. Due to recent family changes, I reflected on my first half of life, flipping through photo albums and organizing my journey in the cryptocurrency world over the past few years.#
This is a true story about how I accumulated assets from zero to 11 million, only to fall into the abyss of debt.
(This story is purely true; any resemblance to real persons or events is purely coincidental.)
At that time, 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 sent me a bunch of introductions from CCTV news. At that time, I thought Bitcoin was a revolutionary good thing: decentralized, emerging asset, and long-term holding would definitely yield profits.
Then, he recommended a software called Plus Token, explaining that simply holding coins had limited profits, but through its "electronic dog" function, one could arbitrage by taking advantage of exchange price differences. Initially, I suspected it was a scam, but out of a sense of luck, I bought 3 Ethereum from Huobi, spending 5,000 RMB to invest. Soon, I noticed something was off.
The sense of abnormality came from several aspects: the group chat atmosphere was extremely enthusiastic, only allowing praise and not questioning; the invitation structure resembled a pyramid scheme; withdrawals required high fees, equivalent to a month's interest, as if the other party was coveting the principal. Most suspiciously, the electronic dog arbitrage address showed no activity—at that time, I didn't understand hash values, but after checking posts from experts, I confirmed that user deposits were not used for arbitrage; this was clearly a scam.
Sure enough, about a month later, the software crashed, and I thought it had run away, resigned to the fact that my 5,000 RMB was gone. Surprisingly, it later recovered, and I immediately withdrew the 3 Ethereum back to Huobi. From then on, I began to study the cryptocurrency world and learned about trading. Previously, I bought Ethereum directly with RMB and had no idea what USDT was, marking my official entry into the cryptocurrency career.
At that time, I didn't understand Ethereum deeply and, due to personal tendencies, pursued faith more, firmly believing in the decentralized value of Bitcoin. So, I exchanged all 3 Ethereum for Bitcoin and made additional investments: cutting losses to buy stocks worth 50,000, which had already dropped to 30,000, plus my salary to average down. At that time, I was making about 20,000 a month from new media, and if it dropped, I would average down, with a total investment of about 50,000, holding 0.62 Bitcoin. Unexpectedly, after buying, it continued to drop...
I then uninstalled the software until March 12, 2020, during the pandemic, when the news reported that Bitcoin had plummeted. I logged into Huobi and found my balance was less than 10,000 RMB—my 50,000 had shrunk to 10,000, and my mindset completely collapsed. Fortunately, my salary supported me, so I didn't care too much and turned to short video creation.
What goes up must come down, and what goes down must rise.
2020 was the lowest point for Bitcoin, but also the year it took off, and my life began to soar as well, like a young eagle spreading its wings, a small spark igniting a prairie fire.
At the beginning of 2020, during the most severe period of the pandemic, the short video trend exploded. My account gained over 200,000 followers in just a few days, with considerable income. Every day, besides making videos, I indulged in food and drink, my weight soared to nearly 150 pounds, and I almost forgot about Bitcoin. Until the news reported that Musk was crazily promoting Bitcoin, I re-downloaded Huobi to check my account and was shocked into numbness—10,000 had turned into 200,000! This thing was so profitable! The blockchain revolution!
At this point, around the end of 2020 to the beginning of 2021, Bitcoin was valued at 200,000, and with my short video savings, my total assets reached 300,000 to 400,000. Then Bitcoin continued to rise, and short videos continued to be profitable, with assets breaking through 500,000. I considered myself a child of the era, with high awareness, accurately seizing the short video and blockchain trends, feeling like a god! Born with the ability to get rich! I vowed to trample on those who looked down on me, and my inflated mindset 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 was determined not to miss SHIB again, and that night SHIB was listed on Huobi. At that time, after trading Bitcoin, I had increased my holdings to 0.87. As SHIB rose, I passionately went all in, making over 100,000 in one night, and within three days, my 300,000 principal doubled to 600,000. I went completely crazy, daring to go all in on a meme coin for the first time...
After making this money, I no longer cared about short videos—despite earning a few thousand a day, trading coins could fluctuate tens of thousands overnight, making Douyin income seem trivial. Tasting the thrill of quick money, I looked down on all laborers, considering myself a child of the dimension, an avant-garde human! SHIB became my faith, and my mind was filled only with going all in!
Joy turned to sorrow: V God’s donation of SHIB triggered a crash, followed by the "519 incident," causing my 600,000 assets to shrink to 300,000, bringing me back to reality. At that time, I was watching the market every night, not losing too badly, but it felt like a high position paralysis. However, SHIB led me to meet my second benefactor in the cryptocurrency world... (The first was the friend who taught me to use Plus Token.)
Due to the inability to express my faith in SHIB, I joined brainwashing QQ groups to find resonance and met an older brother—my benefactor. He recommended a more powerful dog coin called LEASH, which needed to be purchased using a TP wallet. I began to study wallet operations, exchange withdrawals, and Uniswap, laying the groundwork for future wealth.
This benefactor was active in many groups collecting information, and I learned that early buyers of SHIB, PIG, and others had made a fortune. Following his recommendation, I started buying meme coins, teaching him how to use TP wallet on Uniswap, but I basically incurred losses. I also bought Baby Doge and PEPE on the BSC chain, joined faith groups, and even bought "Pixiu" coins that couldn't be sold. The wheels of fate began to turn violently until July...
July 3, 2021, a memorable day. My benefactor recommended a meme coin called STARL, operated by Wolf, the developer of LEASH. Based on my previous experience, I skillfully opened my TP wallet, entered the contract on Uniswap, and exchanged for 0.3E of STARL. The wheels of fate shook violently.
I have a black-and-white mentality: if I believe in something, I go all in; otherwise, I won't touch it. But the philosopher Camille of the Pierre-Watteau school awakened me with a famous saying: "The world is not black and white, but a delicate gray." At this moment, I realized that the wallet was the true blockchain, transferring all my assets into the wallet and increasing my holdings in STARL. I developed the habit of checking my TP wallet, not looking at K-lines; the fluctuations in numbers were incredibly stimulating, and not checking felt uncomfortable.
Then the coins developed by Wolf began to decline, and the more they fell, the more I averaged down, competing with group friends for holding amounts. Eventually, I sold SHIB and LEASH, going all in on STARL. Holding everything felt both satisfying and anxious—if I failed, it would be over... I began to cut losses, buy, and then cut losses again, after all the turmoil, I was left with 30 billion STARL, and my assets shrank from 400,000 to 200,000, enduring a month of torment... I still feel pain when I think back. Until July 25.
On the evening of July 5, 2021, I found a little cat and named it "Fortune"—because I had become wealthy! Opening my TP wallet showed 800,000, and my hands trembled uncontrollably. After refreshing, it turned into 1 million! My first million in life, I went crazy, feeling like a child of the dimension! My ancestors' graves were smoking! How many people can earn a million so quickly? But this was just the beginning, as the coin rode the wave of the metaverse concept.
In the following days, I hardly slept, checking my TP wallet was too exciting: 1 million doubled in an instant! 2 million, 3 million, 3.66 million... tens of thousands fluctuated in casual conversation, money became just a number. Besides checking the wallet, I boasted and brainwashed in faith groups, strengthening consensus. I made a tutorial on how to buy STARL with TP wallet, listened to group friends sing "Starlink Song," compared myself to the white-haired character in "Ready Player One," and felt the metaverse was my home, grasping the pulse of the era! During this extreme madness, a reversal came...
Yes, the crash began. The day before, my mind was filled with "Who else! The metaverse is the future," and it instantly turned into "The metaverse is a scam! Blockchain is a scam! The metaverse game is hard to produce!" Seeing no signs of stopping the decline, I panicked. When it dropped to 1.2 million, I cleared my position—this was the bottom line; I needed to protect my principal of 600,000 and ensure a profit.
After clearing my position, I felt secure but also reluctant. I withdrew 600,000 to my bank card, planning to buy a car, torn between an Audi S4 or a BMW 330i, ultimately choosing the latter. On the way to pick up the car, a change occurred...
My brother advised me that Ethereum could still rise, and buying a car now would be a loss; it was better to buy ETH. I followed the advice and, before entering the 4S shop, went to the bank to handle the U shield (needed for large transfers), transferring 600,000 to the U merchant to exchange for chips, buying ETH to fight again. In the short term, it seemed like a wise decision, but in the long term, it became the root 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 blind boxes or Dogecoin gift packs. You can register directly in China: Click here–> Go to the official website to register for an OKX account; some regions require a VPN or alternative link
🔥🔥🔥 Alpha's Practical Tools for Finding Gold Dogs#
1️⃣ Axiom Dog Boosting Tool https://axiom.trade
2️⃣ Gmgn Dog Boosting Tool https://gmgn.ai
3️⃣ dbot Dog Boosting Tool https://app.debot.ai
4️⃣ Morelogin Multi-Account Fingerprint Browser www.morelogin.com
Related Reading#
Everyone is Searching For#
Buying Bitcoin in China, cryptocurrency trading platforms, downloading and registering OKX, depositing on OKX in China, Binance App registration, Binance App download, Binance platform buying coin tutorial, Binance registration, Binance airdrop registration, Binance Apple download, how to buy presidential coins, how to buy Dogecoin, buying Bitcoin with RMB, how to download OKX, web3 airdrop, web3 zero airdrop, Bitget mainland download registration, OKX passport registration, OKX download, 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 mindset, 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 airdrop, how to strike inscriptions, how to strike runes, cryptocurrency beginner's entry, how to trade coins, can trading coins make money, cryptocurrency beginner tutorial btc8848.com, can trading coins make money, what is contract leverage, Defi mining, how to play cryptocurrency airdrop, OKX airdrop, node staking, liquidation, financial freedom, night investment heiyetouzi.xyz