Experience of getting rich and then in debt in the cryptocurrency world: from zero to tens of millions and then to hundreds of thousands

My Journey in the Crypto World: From the Myth of Sudden Wealth to the Reality of Millions in Debt#

(All images and links in this article retain their original information, only for narrative optimization)

Self-Reflection in 2023
In the deep night of my thirties, flipping through the memories of the crypto world captured in my photo album, I decided to document this true experience of rising from zero to tens of millions and then falling into the abyss.

Chapter One: First Encounter with the Crypto World (2019)#

That summer, an old friend I hadn't contacted in years suddenly sent me a news report from CCTV about Bitcoin. At that time, I had just come into contact with the concept of "decentralization," and with the recommendation of the PlusToken software, I invested 5,000 yuan to buy 3 ETH for my first trial.

When I discovered:

The community prohibited any questioning
Withdrawals required paying monthly earnings as fees
On-chain data confirmed no real arbitrage

I decisively switched to Huobi after the platform crashed and recovered, starting my real crypto career.

Chapter Two: Faith Recharge Period (2020)#

I converted all ETH to BTC and continued to add to my position, with a principal of 50,000 shrinking to 10,000 during the crash on March 12. The short video boom brought about by the pandemic unexpectedly launched me, gaining over 200,000 followers in a single month and earning over 10,000 daily.

When the news of Musk endorsing BTC came, my account surprisingly surged from 10,000 to 200,000! Combined with short video income, my total assets exceeded 500,000, and the inflated mindset of calling myself a "trend catcher" began to sprout.

Chapter Three: Crazy Animal City (2021)#

The popularity of SHIB allowed me to experience the power of meme coins:

On May 8, I went all in on SHIB, turning 300,000 into 600,000 in three days
A donation from Vitalik Buterin triggered a crash on May 19, halving my assets
I met a "noble person" and switched to MEME coins like LEASH and STARL

On July 3, I purchased STARL with 0.3 ETH, experiencing:

The agony of holding 30 billion
My account exceeding 3 million on July 25
Creating a wallet purchase tutorial and composing "The Song of Starlink"
Liquidating 1.2 million after the metaverse concept collapsed

Chapter Four: Turning Point of Fate#

I initially intended to withdraw 600,000 to buy a BMW, but on my brother's advice, I switched to ETH. This seemingly wise decision ultimately became the starting point of my slide into the abyss...

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

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