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A real confession from a 9-year old leek: I once won a Bitcoin through talent among 20,000 people; I also endured painful losses during the tumultuous times of March 12 and May 19; from having a million in assets to zero, and then reconstructing my understanding. After reading this tale of blood and tears, it will help you avoid 5 years of detours.

I entered the cryptocurrency world in 2017 and have been in and out of it for 9 years. Time flies, and this year I turned 36, transforming from a 'young fresh meat' into 'old fresh meat.' At the same time, I am also a piece of old leeks that have been harvested countless times and have repeatedly grown back. In 2018, I 'farmed' a Bitcoin with a 3000-character essay, which was my peak and the beginning of my 9-year career as a 'negative teaching material.'

1. The trial and error period after graduating from university (2014-2017)

After graduating from university in 2014, I joined a traditional industry company. At that time, my family thought my job was quite good because it was state-owned, considered a stable job. However, my thoughts were completely the opposite. From the first day I started, I was thinking about one question: how can I avoid working because I always felt that working for someone else was impossible; I would never be able to do it.

But constrained by my understanding at the time, I tried various things like a headless fly, including learning paid content on the Toutiao APP, participating in the 007 writing community, self-studying spoken English, etc. However, I never found a way to monetize my efforts. Later, trading A-shares directly led to my being harvested, and I fell into deep confusion.

But the more lost I felt, the more I should continue to try, because only through constant attempts can I find my own answers. And I finally found my answer.

2. First contact with the cryptocurrency world (2017)

In 2017, I learned about Bitcoin and blockchain through articles by teacher Li Xiaolai, officially entering the cryptocurrency world. The first coin I bought was EOS, which every veteran should remember well.

By 2018, I had come into contact with Bihu, where I posted daily for a year and a half. At that time, I would post articles at the exact time every day, racing for likes, buying likes, registering small accounts to like, and mutually liking with other friends to earn KEY. I met friends like @Chief Consultant and @Xi Shan Jin on Bihu.

I also participated in offline events hosted by big players in the cryptocurrency world such as @Zhang San Jiu, @Jin Ma, and @Wu Lang. Looking back now, I really miss that time.

3. The highlight of 2018 - 'freeloading' a Bitcoin

At the end of 2018, I encountered the most magical thing in the cryptocurrency world. The big player @BMAN lost a bet and announced on his official account that he would give away a Bitcoin in the comments section. At that time, the article had over ten thousand views and nearly a hundred comments, making the competition quite fierce.

To obtain this Bitcoin, I adopted a 'differentiated competition' strategy and wrote a lengthy reflection of over 3000 words. I also referenced an example from (The Heaven Sword and Dragon Saber), where Zhang Wuji voluntarily gave up cultivating the 7th layer of the Qian Kun Da Nuo Yi, stating that the highest realm of investment is 'cultivating the mind and refraining from greed.' Perhaps this 'unconventional' story touched the big player, and I was unexpectedly chosen and 'freeloaded' that Bitcoin.

At that time, I truly felt like 'the chosen one.' But in the following year of 2020, my life fell to rock bottom.

4. The painful lessons of 312 Waterloo and 519 liquidation (2020-2021)

At the beginning of 2020, after a few years of struggle, I earned my first million. But then came the sudden crash on March 12, which sent me back to square one. At the lowest point, my total assets shrank by nearly 80%. I was completely dazed, spending all day pacing on the rooftop.

In the end, I really couldn't hold on anymore and made the most failed decision of my life: I liquidated all my coins at a loss. I remember very clearly that I sold 2.8 BTC for 5500 USDT; 40 ETH for 115 USDT, and sold off my nearly 3-year hold of EOS at market price. Disheartened, I exited the cryptocurrency world and turned to IPOs in the Hong Kong stock market.

At that time, the IPO market in Hong Kong was booming. Although I made some money, it paled in comparison to the returns in the cryptocurrency world. I missed out on most of the bull market in cryptocurrency and the entire DeFi summer's money-making opportunities. At that time, I couldn't face this reality and tried to ignore all information about the cryptocurrency world.

By early 2021, I returned to the cryptocurrency world after deep reflection, but shortly after returning, I was hit hard again by 519.

After returning to the cryptocurrency world, I bought some KSM at a low price. At that time, this coin was on a strong upward trend, yielding over 10 times in a short period. But to earn more, I impulsively opened a super low-leverage contract grid arbitrage.

I remember very clearly that before 519, KSM surged to around 620 USDT, while the liquidation price of my contract grid was 210 USDT. I once thought it was almost impossible to be liquidated, but reality soon slapped me hard.

On the night of March 19, the market suddenly crashed. KSM plummeted from over $600 to below $160 within an hour. My KSM was completely liquidated, resulting in a loss of tens of thousands of USDT. At that time, I had just returned to the cryptocurrency world not long ago, and my funds were very limited. This liquidation dealt me a heavy blow.

After experiencing the significant losses of 312 and 519, I learned the most important lesson: "Do not make any major decisions in extreme panic; correct and rational decisions are always made when emotions are stable."

5. The missed opportunities and zeroing out of RACA, Moonbirds, Star Shark, and Stepn (2022-2024)

Later on, due to the painful losses of 312 and 519, my rhythm was completely disrupted. I missed several big opportunities, and my operations became a mess, turning me into a textbook example of how not to succeed.

In 2022, I missed the 1000x coin RACA twice.

First time: When RACA was just launched, CZ and Elon Musk's mother stood on stage. I heavily invested but was directly hit with a crash, which scared me into selling at a loss. As soon as I sold, it began to surge, increasing tenfold in just one hour...

Second time: After RACA surged and then fell back, I bought some at a low price, intending to hold long-term. As a result, one day RACA suddenly surged over 20%+, and I foolishly sold to try to make short-term profits. Right after I sold, RACA skyrocketed 500 times over the next few months.

Watching my friends who I recommended to buy in celebrate wildly with assets over a million while I have nothing left in hand. This sense of disparity really made me feel like I wanted to die.

After the NFT boom, I participated in several NFT IPOs. The one that left the deepest impression on me was Moonbirds, where I participated with multiple accounts and managed to snag one. I also got a substitute signature, which allowed me to claim NFTs that hadn't been claimed yet.

Due to the threshold for the substitute signature, I judged that there were definitely not many scientists among them, so the competition would be relatively small. As a result, I stayed up until 3 AM, raised the gas fee to $200, and surprisingly managed to snag another one, which made me extremely happy.

Unfortunately, at that time, my funds were limited. After I got 2 NFTs, I hurriedly sold them for cash, earning less than 10 ETH. I did not expect that the floor price of Moonbirds would later skyrocket to 40 ETH, and I missed another opportunity for wealth.

Later, when blockchain games exploded, I fell into a 'winning + greed' vicious cycle again. Relying on luck, I won a few Star Shark NFTs in @Mike8848's Twitter lottery, rolling a snowball to a value of 60,000 USDT. Yet, because I was reluctant to cash out at high points, attracted by daily earnings of a few hundred USDT, I ended up watching all my NFTs go to zero.

Because at that time my mind was entirely on Star Shark, I only earned 30,000 USDT from the subsequent running shoes Stepn, while my friends around me made over 2 million, and others in the group had multiple friends who directly made A8. This lesson of 'picking up sesame seeds while losing watermelons' is truly unforgettable.

In 2023-2024, I mainly focused on holding coins, claiming airdrops, and participating in IPOs. Projects like Arbitrum and Starknet received some airdrops. Additionally, I also got a few spots in OKX's SUI IPO, but the selling points were all poor; either I sold at a loss or I am still holding from the current situation. Strk has dropped over 95% since I bought it.

Summarizing my series of wrong decisions, the root cause was still too greedy; I always wanted to buy at the lowest point and sell at the highest point, while also trying to earn a bit through short-term trades. But the final result often defied my expectations.

6. My original intention for this account

After experiencing so much, I realized that achieving unity of knowledge and action in investing is really difficult. In 2018, I already knew that investing in the cryptocurrency world required cultivating the mind and refraining from greed. But until now, I still can't fully achieve unity of knowledge and action.

In the past nine years in the cryptocurrency world, countless huge fortunes have passed before me like fleeting clouds. But what I truly grasped was very few; I became a textbook example of how not to succeed in the cryptocurrency world.

Here, I hope to share my experiences with everyone, and more importantly, it serves as a wake-up call for myself. My purpose for coming to Binance Square is very simple: through the process of operating the Binance Square account, I can force myself to deeply understand various information about the cryptocurrency world every day, allowing me to always stay at the forefront of the industry and continuously improve my knowledge.

I also hope to make some like-minded friends at Binance Square, so we can all progress and earn money together.

More importantly, if I can provide some value to friends reading my content, that is the greatest significance of this account's existence.

Finally, if you find these stories interesting, please follow me and share them with friends who are also persevering. Although I have been losing badly, my mindset remains steady as an old dog, and my voice is like a cat. Haha, see you in the comments section! 🐱