Recently in the stock market, the words 'Moore Threads' have completely gone viral, and no one can escape this shock.
On one side is an exaggerated market value of 300 billion RMB, bearing the label of 'domestic NVIDIA.' Although there is still a gap compared to NVIDIA's 4 trillion USD market value, it is already a bright presence in the domestic chip track.
On the other side is the myth of new stock offerings, where a single account winning a lottery can make 260,000, setting a record for profits in domestic new stock offerings; for those who missed such immense wealth, they must feel like hitting their thighs in frustration.
And today’s core is not about stock market dividends, but about Li Feng, the head of Moore Threads College, who dared to confront Xu Mingxing and took away 1,500 BTC.
Pulling back time to that era of barbaric growth, when launching a token meant getting rich, with chaos hiding extreme madness. As early as 2017, Li Feng created an absurdly outrageous token 'Cao Ni Ma Coin', claiming to be the world's first blockchain modern performance art piece, aiming to create a Cao Ni Ma-based artificial intelligence entity.
The white paper is filled with the wildness of the times; back then, launching tokens was not done with any concealment, unlike today's timidity.
What’s even more unexpected is that this seemingly unreliable project attracted Xue Manzi to publicly announce his investment, along with endorsements from Li Xiaolai and Guo Hongcai. Li Feng even became one of the early poker figures in the coin circle. With this hype, he successfully raised 5,000 Ethereum, equivalent to 2 million USD, and only symbolically developed the so-called 'Cao Ni Ma Intelligence', with the remaining funds mostly pocketed. Later, due to the vulgar name of the token, he was interviewed and hurriedly renamed it 'Alpaca Coin'.
By 2018, someone questioned Li Feng about borrowing 1,500 BTC from Xu Mingxing and refusing to return it. His response infuriated Xu Mingxing to the point of spitting blood: 'That was Xu Mingxing losing money on Alpaca Coin and regretting wanting his money back.' At that time, Xu Mingxing was already a big shot in the coin circle, wealthy and stable, and being bitten back by a debtor saying 'I can’t afford to play' is hard for anyone to swallow. The rarely angry Xu Mingxing directly posted on social media in outrage, revealing the loan agreement from that year, bringing this feud completely to light.
From borrowing tokens from Xu Mingxing in 2014, to raising money through absurd projects in 2018, and then later stepping into the chip industry in Web3, Li Feng has had a tumultuous 11 years. Xu Mingxing, who founded OK in 2013, has also gone through 12 years of ups and downs, from being an industry star to becoming an unshakeable absolute big shot. The feud between the two is still ongoing, but these 11 years just happen to be the 11 years of Web3's growth from chaos. Now, looking back at those absurdly laughable project white papers from back then, inexplicably generates a sense of nostalgia. Although there were rampant irregularities and scams, as long as one said they wanted to do a blockchain project, the industry was full of tolerance and support. Even if a project was less reliable than Alpaca Coin, everyone would rush to say, 'Boss, leave some quota, I'll send money right away.' I was also moved by this enthusiasm for innovation back then, which is why I resolutely invested. But now it's different; everyone is on guard against each other like thieves, afraid of being harvested by the other side, and when talking about support, one first asks, 'How about you V me 50 to see your strength?' The industry has long become a game of capital competition; the big shots who have landed have distanced themselves from each other, and they are no longer people from the same world.
To add a word: Regardless of who is right or wrong between Li Feng and Xu Mingxing, in terms of personal trajectory, both have achieved success in the secular sense. It may be worth being more patient with the industry; the policy pressures Xu Mingxing endured and the crises he navigated back then were far more than we imagine. After years of persistence, he has finally stabilized his footing through industry development. Also, please be more patient with yourself; even if you leave the old track like Li Feng, you can realize value in a new field. Life is never limited to one possibility; the road ahead is long and wide. Don't get stuck in the confusion of the present; you deserve a better future.
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