My friends often lament that they were born at the wrong time, missing out on Taobao in 2008, WeChat in 2013, and TikTok in 2018. However, greater opportunities are unfolding before us. Web3 offers limitless possibilities for young people: from giants like SBF to ordinary individuals like us, we should bravely dive in and embrace the challenges.
On September 27, a news story about "Shenzhen University students from the 2018 class donating 50 million yuan back to their alma mater" sparked heated discussions on social media, leading to numerous speculations. Comments such as "son of Tencent CTO Zhang Zhidong," "founder of Singapore's ABD Capital," and "CEO of a certain company" attempted to portray him as a rich second generation. This article will delve into the story of this self-made genius, Zhang Yufeng. Zhang Yufeng's online name is @octopusfeng, hereinafter referred to as oct.
Chapter One: A Glimpse into the Path — Engaging in Trading, Deep Learning#
Despite the various opinions online about oct's true identity and industry background, there is a consensus that he graduated from Shenzhen University with a degree in International Trade in 2018. Against the backdrop of a severe economic and employment situation, the stark contrast between "donating 50 million" and "just graduated two years ago" stimulates every internet observer. Many no longer believe in self-made success stories and instead accept a narrative tailored to him as a rich second generation or a second-generation entrepreneur. However, those familiar with oct and web3 know that such speculation is unfounded, as he is actually a legendary crypto trader who once worked at the well-known crypto exchange FTX.
Rewinding to 2018, oct, like most people, lacked a clear plan for the future when he first entered Shenzhen University. Reflecting on this past, oct feels deeply, as he had a strong aversion to trading, especially crypto trading. Perhaps influenced by the one-sided reporting of asset trading in domestic media, he once believed that all traders, including Buffett, were engaging in high-risk speculation, and that hedge fund profits relied solely on capital advantages. "Pure speculation" left a negative impression of trading on young oct.
By the end of 2020, news like "#Bitcoin surged 300% throughout the year, once approaching $30,000" entered the mainstream view. However, unlike most people's disdain, oct chose to set aside his prejudices and began to study and invest in #crypto. The wheels of fate quietly turned at this moment.
If traders can be divided into doers and thinkers, oct undoubtedly belongs to the former. Even after making his first "six-figure" profit by shorting US stocks like Bilibili and Hong Kong stocks like Xiaomi, he still weighed the decision to invest all his funds in crypto. The financial market follows a survival of the fittest principle, and crypto is particularly perilous, while oct is like a cheetah holding its breath. After months of exploration, he locked onto his first target — $sol. With a habit of in-depth research developed during his internship in the primary market, oct conducted a comprehensive analysis of the crypto track and sol, confirming his decision to invest all his funds.
It is important to emphasize oct's investment research approach: similar to the primary market, he started from the macro crypto market. He believes that the Ethereum smart contract system is a great achievement of blockchain, but high gas fees hinder its development. "Like New York, expensive and congested." Therefore, a public chain that can run smart contracts with low gas fees became the target. After narrowing down the options, oct filtered from two perspectives:
(1) He believes that the "strong hands" in crypto are crucial to the price trends of the tokens, as the token concept is independent of price movements, and sol has the strong backing of FTX. Additionally, oct believes that "sol will become FTX's sharpest spear," as a quality controllable public chain greatly benefits exchanges, just like BNBChain does for Binance and OKChain does for OKX (then known as OKEX), so FTX must strongly support sol.
(2) Builders have a keener sense than traders and can perceive the development of public chains in real-time. Entrepreneurial builders risk everything to enter the market, and any mistake can lead to total failure, so they will strive to choose the optimal public chain. The hackathons for sol, whether formal or informal, have the highest quality among various public chains.
At this point, oct's operations had not yet made him stand out. Anyone who has experienced buy and hold knows that the real difficulty is not in buying but in whether one can hold onto depreciating positions during the hodl process. Oct also faced this choice: after fully investing in sol at the beginning of 2021, sol continued to decline, repeatedly falling below $1. Reflecting on this experience, oct admitted that the significant drawdown severely affected his work and life, leading to a long struggle with the impulse to "cut losses." Ultimately, fate favored him, and sol soared to over $200 after a long period of consolidation, at which point oct gradually took profits. This victory increased his assets to the tens of millions.
Although today, with oct's success, this all-in strategy, which involves an element of luck, may not impress all those with similar experiences, especially those who believe that "going all in is wisdom" but endure drawdowns. However, it is undeniable that, looking back through the rearview mirror, oct always manages to penetrate the fog and navigate through dangerous yet perfectly timed rapids...
(Continued)
[To be continued] Source of the story: 0xbeyondlee.eth
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