"My friends often complain to me about being born at the wrong time, missing out on Taobao in 2008, WeChat in 2013, and TikTok in 2018, but the bigger world is right in front of us. Web3 has given young people all the opportunities: from SBF to us, we should leap into the sea and embrace the giant waves."
On September 27, a piece of news about "a student from Shenzhen University donating 50 million yuan back to his alma mater" exploded on social media, sparking various speculations. Comments like "son of Tencent CTO Zhang Zhidong," "founder of Singapore's ABD Capital," and "CEO of a certain company" seemed to be trying hard to shape this young celebrity into a so-called second-generation rich kid. Today, this article will delve into the story behind this self-made genius—Zhang Yufeng, known in the circle as @octopusfeng, hereafter referred to as oct.
Chapter One: A Glimpse into the Path—Contact with Trading, Deep Learning#
Although the internet onlookers have various opinions about oct's true identity and the industry he is involved in, one thing is certain: oct graduated from the International Trade major of Shenzhen University in 2018. In the current grim economic and employment situation, the stark contrast between "donating 50 million" and "just graduated two years ago" stimulates the nerves of every internet spectator. Understandably, perhaps due to a loss of faith in contemporary self-made stories, many choose to believe in the so-called second-generation rich or second-generation entrepreneurs tailored for oct. However, those familiar with oct and web3 know that such speculations are not entirely accurate, as his true identity is that of a legendary crypto trader who once worked at the well-known crypto exchange FTX.
Back in 2018, when oct just entered Shenzhen University, like most people, he did not have a clear plan for the future. Whenever he recalls this past, oct feels quite emotional, as he had a strong initial aversion to trading, especially crypto trading. Perhaps influenced by some domestic media's biased reporting on asset trading, oct once believed that all traders, including Buffett, were engaged in a high-risk speculative game, and that some hedge funds could profit merely due to their capital size advantage. "Pure speculation" was the terrible first impression that trading left on young oct.
Fast forward to the end of 2020, messages like "#Bitcoin up 300% for the year, once nearing $30,000" began to gradually enter the mainstream public's view. However, unlike the dismissive attitude of most people, oct chose to abandon his previous prejudices and began to study and attempt to invest in #crypto. The wheels of fate began to turn silently.
If traders can be divided into doers and thinkers, oct certainly belongs to the former. Even though he made his first "six-figure" profit by investing in U.S. stocks like Bilibili and Hong Kong stocks like Xiaomi, he still chose to go all-in on crypto after weighing his options. It is well-known that financial markets have always upheld the principle of the survival of the fittest, and crypto is the most dangerous thicket among them, yet oct happened to be the cheetah that could hold its breath for a long time. After months of sniffing around, oct caught sight of his first prey—$sol. Relying on the deep research habits developed during his internship in the primary market, oct conducted comprehensive research and analysis on the crypto track and sol, and after obtaining a positive answer, he invested all his funds into it.
It is worth mentioning oct's investment research approach: similar to primary market analysis, oct also chose to start from the macro crypto market. He believes that the Ethereum smart contract system is one of the greatest achievements of blockchain, but the high gas fees are a significant obstacle to its development. "Like New York traffic, bustling yet congested." Therefore, a public chain that can also run smart contract systems with low gas fees became oct's target. The search range narrowed, but there were still many candidates, and oct chose to think from these two angles:
(1) He believes whether crypto has a "strong player" will lead to completely different directions for the target, as the ideology upheld by the token and the token price trends are two independent dimensions, and sol has the powerful backing of FTX. Moreover, oct believes "sol will become FTX's sharpest spear," as a controllable high-quality public chain is highly beneficial for exchanges, such as BNBChain for Binance and OKChain for OKX (which was still called OKEX at the time), so FTX had no reason not to strongly support sol.
(2) Builders have a keener sense compared to traders and can perceive the development trends of public chains more quickly. Every entrepreneurial builder is risking everything to enter the market, and a slight misstep can lead to total failure, so they will desperately choose the most outstanding and promising public chains. The hackathons for sol, whether formal or informal, are among the highest quality in the public chain space.
At this point, oct's actions still did not make him stand out. Anyone who has experienced buy and hold knows that the real difficulty is not in the buying process, but in whether one can hold on to a position that is increasingly depreciating during the long hodl process. Oct faced such a choice as well; after buying sol with all his funds at the beginning of 2021, sol continued to decline, touching below $1 multiple times. When recalling this past, oct is quite candid, admitting that the significant drawdown indeed had a major impact on his work and life, and for a long time, he struggled with the urge to "cut losses." Ultimately, Lady Luck smiled upon oct; after a long period of consolidation, sol skyrocketed from the buying point of $3 to over $200, and at this point, oct, having already made a huge profit, chose to gradually cash out. After this battle, oct's assets grew to the tens of millions.
Although oct has already achieved success now, this somewhat luck-based all-in trading method may not impress everyone with similar experiences, especially those diamond hands who believe that "going all-in is a form of wisdom" but have suffered significant drawdowns. However, it cannot be denied that looking back through the rearview mirror, oct has always been able to penetrate the fog, navigating through dangerous yet perfectly timed rapids...
(Continued)
[To be continued] Source of the story: 0xbeyondlee.eth
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