## Cryptocurrency Trading Twelve Years: A "Living Dead" Self-Analysis in the Crypto World
- At three in the morning, I entered the exchange password for the 37th time. The price of Bitcoin twitched like a chicken with its throat cut, at the price level of 58,000 dollars. My finger hovered over the "Close All Positions" button, and the accumulated cigarette butts in the ashtray recorded this sleepless night—this was just one of the most ordinary nights in my twelve years. - ### 1. Blood Red Dawn: The First Blood of 2013 In the office building of the East Third Ring Road in Beijing, the smell of instant coffee lingers. The moment I liquidated my Litecoin position on the eve of the Mt. Gox collapse, the blue light from the monitor cast a strange cross on my lenses. The account balance froze at 2.17 million, a number that made me laugh maniacally under the streetlights on Chang'an Avenue at four in the morning. Three months later, the bankruptcy announcement of the Mentougou Exchange hit like a silent blow, and the rumors of colleagues who didn't manage to withdraw their funds lining up on the rooftop filled the late-night cryptocurrency trading groups with a sense of bloodshed. - That Christmas, I was in my rented room gnawing on a cold pancake when my phone suddenly vibrated: Bitcoin plummeted from $1200 to the abyss of $200. A note from the landlord demanding rent was stuck on the doorknob, creating an absurd diptych with the exchange's margin call text message. I practiced smiling in the bathroom mirror, fearing that the debt collectors would see through my facade. - ### 2. Life and Death at High Speed: The Heartbeat Moments in Leveraged Gaming On December 17, 2017, Bitcoin reached an all-time high of $19,875. I had added 125 times leverage to my long contract the night before it went live on the CME exchange, with enough volume to buy the most luxurious property in my hometown. When the clock struck in Chicago, the price curve suddenly turned into a vertical drop roller coaster, and the liquidation warnings came flooding in like a zombie apocalypse. During those 72 hours, I felt like a frog trapped in a pressure cooker, watching the countdown for the margin call devour the down payment for my wedding house. - Standing on the edge of the 33rd-floor rooftop late at night, the river wind turned the contract details into a flurry of paper money. My phone suddenly vibrated, a certain altcoin project sent a deadly temptation: "Put everything on this coin, a hundred times in three days." This call from hell, I have received 129 times. - ### Three, Living Towards Death: The Flowers Blooming in the Code Graveyard On May 19, 2021, the cryptocurrency market evaporated a trillion in market value in a single day. When the number of liquidations across the network surpassed 800,000, I was transcribing the "Heart Sutra" at a Zen temple in Yunnan. The alternating liquidation alarms on my phone formed a strange harmony with the sound of the wooden fish. The "Impermanent Arbitrage Method" I realized three years ago in DeFi liquidity mining is now executing programmed trading automatically. - Looking at the fluctuating profit and loss curve on the monitor, I suddenly burst out laughing—those days of being repeatedly whipped in the contract graveyard, the humiliation of being harvested as leeks by project teams, have ultimately turned into training data for survival algorithms. In the current position portfolio, there are stablecoin investments with an annualized return of 8%, as well as "end-date options" specifically designed to capture black swan profits, just like building an organic farm in a mass grave. - When the latest market software shows that Bitcoin has returned to $60,000, I turn off seventeen of the eighteen monitors. The remaining screen flickers with the candlestick chart from twelve years ago when I first bought Bitcoin, those jagged fluctuations now look like a baby's ECG. As I brew the third pot of Pu'er tea, dawn flows over the glass curtain wall of the exchange building, reminiscent of the bloody dawn during the Men Tou Gou collapse years ago. Twelve years have passed, and I am still alive, greedily breathing in the rust-tinged air between every liquidation warning. #Gate.io 创始人12 周年公开信# #Memebox上线Salamanca (DON)# #Michael Saylor暗示增持BTC#
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· 04-28 12:17
My coin is going to da moon, but unfortunately the capital is small.
## Cryptocurrency Trading Twelve Years: A "Living Dead" Self-Analysis in the Crypto World
-
At three in the morning, I entered the exchange password for the 37th time. The price of Bitcoin twitched like a chicken with its throat cut, at the price level of 58,000 dollars. My finger hovered over the "Close All Positions" button, and the accumulated cigarette butts in the ashtray recorded this sleepless night—this was just one of the most ordinary nights in my twelve years.
-
### 1. Blood Red Dawn: The First Blood of 2013
In the office building of the East Third Ring Road in Beijing, the smell of instant coffee lingers. The moment I liquidated my Litecoin position on the eve of the Mt. Gox collapse, the blue light from the monitor cast a strange cross on my lenses. The account balance froze at 2.17 million, a number that made me laugh maniacally under the streetlights on Chang'an Avenue at four in the morning. Three months later, the bankruptcy announcement of the Mentougou Exchange hit like a silent blow, and the rumors of colleagues who didn't manage to withdraw their funds lining up on the rooftop filled the late-night cryptocurrency trading groups with a sense of bloodshed.
-
That Christmas, I was in my rented room gnawing on a cold pancake when my phone suddenly vibrated: Bitcoin plummeted from $1200 to the abyss of $200. A note from the landlord demanding rent was stuck on the doorknob, creating an absurd diptych with the exchange's margin call text message. I practiced smiling in the bathroom mirror, fearing that the debt collectors would see through my facade.
-
### 2. Life and Death at High Speed: The Heartbeat Moments in Leveraged Gaming
On December 17, 2017, Bitcoin reached an all-time high of $19,875. I had added 125 times leverage to my long contract the night before it went live on the CME exchange, with enough volume to buy the most luxurious property in my hometown. When the clock struck in Chicago, the price curve suddenly turned into a vertical drop roller coaster, and the liquidation warnings came flooding in like a zombie apocalypse. During those 72 hours, I felt like a frog trapped in a pressure cooker, watching the countdown for the margin call devour the down payment for my wedding house.
-
Standing on the edge of the 33rd-floor rooftop late at night, the river wind turned the contract details into a flurry of paper money. My phone suddenly vibrated, a certain altcoin project sent a deadly temptation: "Put everything on this coin, a hundred times in three days." This call from hell, I have received 129 times.
-
### Three, Living Towards Death: The Flowers Blooming in the Code Graveyard
On May 19, 2021, the cryptocurrency market evaporated a trillion in market value in a single day. When the number of liquidations across the network surpassed 800,000, I was transcribing the "Heart Sutra" at a Zen temple in Yunnan. The alternating liquidation alarms on my phone formed a strange harmony with the sound of the wooden fish. The "Impermanent Arbitrage Method" I realized three years ago in DeFi liquidity mining is now executing programmed trading automatically.
-
Looking at the fluctuating profit and loss curve on the monitor, I suddenly burst out laughing—those days of being repeatedly whipped in the contract graveyard, the humiliation of being harvested as leeks by project teams, have ultimately turned into training data for survival algorithms. In the current position portfolio, there are stablecoin investments with an annualized return of 8%, as well as "end-date options" specifically designed to capture black swan profits, just like building an organic farm in a mass grave.
-
When the latest market software shows that Bitcoin has returned to $60,000, I turn off seventeen of the eighteen monitors. The remaining screen flickers with the candlestick chart from twelve years ago when I first bought Bitcoin, those jagged fluctuations now look like a baby's ECG. As I brew the third pot of Pu'er tea, dawn flows over the glass curtain wall of the exchange building, reminiscent of the bloody dawn during the Men Tou Gou collapse years ago. Twelve years have passed, and I am still alive, greedily breathing in the rust-tinged air between every liquidation warning.
#Gate.io 创始人12 周年公开信# #Memebox上线Salamanca (DON)# #Michael Saylor暗示增持BTC#