I stumbled upon the stories of cryptocurrency figures I wrote before, and every time I read them, I have different feelings.
Wealth, misfortune, and human nature are all gambles everyone faces. Cryptocurrency, without a doubt, compresses these into a rapid iteration cycle across two dimensions of time and space, resulting in a vibrant and intense life for those in the crypto world. Next, let's look back at the legendary figure 'Fried Cat' in the cryptocurrency journey with all the seasoned veterans.
1: Fried Cat Enters the Circle
In 2011, Fried Cat (originally named Jiang Xinyu) pursued a PhD in computer systems at Yale University in the United States. It was there that he first learned about Bitcoin from his classmate Fan Dawei at the University of Science and Technology of China. In early 2012, he registered an ID as 'friedcat' and became active in the Bitcoin community.
II: Partners: Wu Jihan and Crazy Xiaoqiang
In July 2012, Kaomao designed ASIC mining machines, raised 1 million through ICO, and brought in two partners: Wu Jihan and Crazy Xiaoqiang. Like all entrepreneurial stories, these two would later have a fierce conflict with Kaomao.
III: In the world of martial arts, only speed cannot be broken - Kaomao ASIC mining machines
The ASIC mining machines designed by Kaomao dominated the industry, crushing American Butterfly Labs and Avalon’s mining machines. In April 2013, Kaomao's mining farm was officially completed, accounting for 42% of the total network hash power. In May, the peak hash power of Kaomao's mining farm reached 47T, triggering panic over a potential 51% attack in the community. During July, this mining farm could mine nearly 40,000 Bitcoins each month.
IV: The Crazy Wealth Myth
In July 2013, the stock price of Kaomao's mining farm rose from 0.1 to 5 Bitcoins, distributing 140,000 BTC as dividends to shareholders, with a total market value of 2 million BTC, and Kaomao's shareholding ratio was 59%.
On November 29, the price of Bitcoin soared to its highest historical level: $1242. On the same day, the price of one ounce of gold was $1241.98. OKCoin and Huobi were established, and BTCChina’s trading volume surpassed 80,000 Bitcoins, accounting for 43% of the world’s total trading volume.
V: Mining twisted into a twist
At the end of 2013, the wealth effect of mining drove a bunch of people to rush in. Wu Jihan left to establish Antminer and adopted 55nm and 28nm technology, while competitors Avalon and Antminer S5 were selling like crazy. Kaomao's mining machines were severely unsold, and the company's finances were tight. Those who once praised him were now fiercely cursing him.
VI: Kaomao's Summary - Mine Owner Lin Qingxin
To save the company from crisis, Kaomao collaborated with the mine owner Lin Qingxin, investing 6,000 mining machines. In early 2015, due to packaging quality issues with the mining machines, the mine exploded, and seventy million vanished into thin air. Lin Qingxin sent people to surround Kaomao, who went to negotiate, and the mining account was controlled. On January 26, 2015, Kaomao last logged into the Bitcointalk forum, and then no one could contact him again...
VII: Kaomao's Wallet
The three Bitcoin addresses exposed by Kaomao:
15h6A2a3D31vRviBDdSpvhLtYJq3aePhdW
1HgTJED7XEGy4vVwKa8kgefWqUB3VRX2mW
1BnkEt2ceoVhnQVrqeAzigcroQ6MVyxFey
In August 2017, two wallet accounts of Kaomao were detected, with 5 transfers of 17,597 BTC, which is also some evidence that some people insist Kaomao is not dead.
VIII: The Conclusion of Kaomao
Kaomao's wife, Wang Xian, in October 2014, the two had a flash marriage in Shenzhen, and three months later Kaomao went missing. In October 2015, Wang Xian filed for divorce in court, which was later approved by the Hefei court. As for whether Wang Xian manipulated Kaomao's shared Bitcoin assets, there is no evidence.
Multiple reports have surfaced about the re-emergence of Kaomao, but there has been no further news. Kaomao, like the golden years of China Zongheng mining and the unique cryptocurrency circle, has become a thing of the past...
(Welcome to like + comment) !!!
Having been rained on, I am willing to hold an umbrella for the leeks! I am the life of circle B, follow me, and let’s walk together on the path of the cryptocurrency world!
