The real experience of going from zero to ten million in the cryptocurrency world and then to a debt of one hundred thousand.

The Rise and Fall of a Cryptocurrency Player: From Wealth Myths to Debt Abyss#

(This article is adapted from real experiences, and personal information has been anonymized.)

Entering the Scene: A Sunshine Boy's First Experience with Blockchain#

In the summer of 2019, my long-silent WeChat suddenly buzzed. An old friend sent a news report from CCTV about Bitcoin, accompanied by a mysterious voice message: "This thing can change the world!" At that time, I had just turned 26, living a mundane life with a monthly income of 20,000 from new media. This string of encrypted characters instantly ignited my curiosity.

Lesson One: The PlusToken Horror Story#

At a friend's recommendation, I nervously transferred 5,000 yuan to my Huobi account, exchanging it for 3 ETH to invest in PlusToken. When I discovered that the so-called "electronic dog arbitrage" was nothing but a scam, the group was playing out a surreal reality—doubters were kicked out, praises flooded the chat, resembling a contemporary digital cult.

Thirty days later, the platform crashed, and I thought I was about to witness a "Wolf of Wall Street" escape. To my surprise, when the system revived, I snatched back my ETH as if taking food from a crocodile's mouth, but this opened Pandora's box: I became deeply trapped in candlestick charts.

Faith Recharge: From Value Investment to Faith Collapse#

I liquidated my stocks, losing 50,000, and repeatedly drained my salary card; 0.62 Bitcoin became my digital totem. It wasn't until the Black Swan event on March 12, 2020, when my account shrank to 10,000, that I understood the true meaning of the phrase "the market can remain irrational longer than you can remain solvent" from "The Big Short."

Dual Fronts: Short Video Boom and Coin Circle Romance#

During the pandemic lockdown, my humorous science popularization account unexpectedly went viral. When Musk started tweeting about it, an absurd plot unfolded: a forgotten Bitcoin account skyrocketed from 10,000 to 200,000! That dizzying feeling was like Wang Duoyu seeing a billion cash in "The Richest Man in Xihong City."

Zootopia: The SHIB and Dog Coin Carnival#

On the subway on May 8, 2021, Musk's tweet lit up my phone screen. That night, SHIB launched on Huobi, and I played out a real-life version of "God of Gamblers": turning 300,000 in capital into 600,000 in three days. When Vitalik's donation caused the coin price to halve, I realized I was just a lamb to be slaughtered in "Animal World."

The Cycle of Calamity: The Fatal Choice on Car Pickup Day#

I was already holding the BMW key but was tempted by my brother's words, "Ethereum can still rise." Standing in the bank's VIP room at that moment, I felt as if Gordon Gekko from "Wall Street" had possessed me. 600,000 in cash turned back into ETH chips, unaware that this was the last ticket to the abyss...

[To be continued] Story source: Wang Duan Niao 🐦

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