"I often hear friends complain about being 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 unlimited possibilities for young people: whether it's giants like SBF or ordinary individuals like us, we should bravely dive in and embrace the wave."
On September 27, a piece of news about "a student from Shenzhen University donating 50 million yuan back to his alma mater" caused a sensation on social media, leaving people amazed and sparking various speculations. Comments like "son of Tencent CTO Zhang Zhidong," "founder of Singapore's ABD Capital," and "CEO of a certain company" seemed to try hard to shape this young celebrity into a so-called rich second generation. Today, this article will delve into the true story of this self-made genius—Zhang Yufeng. Zhang Yufeng's nickname in the circle is @octopusfeng, referred to as oct in the following text.
Chapter One: A Glimpse into the Path—Engaging in Trading, Deep Learning#
Although internet users have various opinions about oct's true identity and industry, there is one consensus: he graduated from the 2018 International Trade program at Shenzhen University. In the current severe economic and employment situation, the stark contrast between "donating 50 million" and "just graduated two years ago" stimulates the nerves of every online observer. It is understandable that many people no longer believe in contemporary self-made success stories, instead accepting a narrative tailored for him as a rich second generation or a second-generation entrepreneur. However, those familiar with oct and web3 know that this speculation is unfounded, as he is actually a legendary crypto trader who once worked at the well-known crypto exchange FTX.
Back in 2018, when oct just entered Shenzhen University, like most people, he lacked a clear plan for the future. Reflecting on this period, oct often feels a surge of emotions, as he had a strong aversion to trading, especially crypto trading. Perhaps influenced by certain media's biased reports on asset trading in China, oct once believed that all traders, including Buffett, were engaging in high-risk speculation, and that some hedge funds profited solely based on capital advantages. "Pure speculation" left a negative impression of trading on young oct.
Fast forward to the end of 2020, news like "#Bitcoin skyrocketed 300% throughout the year, once nearing $30,000" began to enter mainstream awareness. However, unlike most people's disdainful attitude, oct chose to discard his biases and began to study and attempt to invest in #crypto. At this moment, the wheels of fate began to turn quietly.
If traders can be divided into doers and thinkers, oct undoubtedly belongs to the former. Although he earned his first "six-figure" profit by investing in US stocks like Bilibili and Hong Kong stocks like Xiaomi, he still weighed his options and fully invested in crypto. It is well-known that financial markets operate on a survival of the fittest principle, and crypto is one of the most perilous fields within it, while oct was like a cheetah holding its breath for a long time. After months of exploration, he locked onto his first target—$sol. With the deep research habits developed during his internship in the primary market, oct conducted a comprehensive analysis of the crypto track and sol, confirming his full investment.
It is worth mentioning oct's investment research approach: similar to primary market analysis, he started from the macro crypto market. He believes that the Ethereum smart contract system is a great achievement of blockchain, but the high gas fees are a significant obstacle to its development. "Like New York, bustling yet congested." Therefore, a public chain capable of running smart contracts with low gas fees became his target. After narrowing down the options, there were still many candidates, and oct considered from two angles:
(1) He believed that whether crypto has a "strong player" determines the direction of the target, as the token concept is independent of price trends, and sol has strong backing from FTX. Additionally, oct believed "sol would become FTX's sharpest spear," as a controllable and excellent public chain greatly benefits exchanges, just like BNBChain for Binance and OKChain for OKX (which was still called OKEX at the time), thus FTX would undoubtedly strongly support sol.
(2) Builders are more perceptive than traders and can sense the development of public chains immediately, as entrepreneurs risk everything to enter the field, and any misstep could lead to total failure; they will desperately choose the best public chain. The hackathons for sol, whether formal or informal, have the highest quality among 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 the buying process, but in whether one can hold onto a depreciating position during the long holding period. 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 affected his work and life, leading to a long struggle with the impulse to "cut losses." Ultimately, fate favored him; after a long consolidation, sol skyrocketed from the buying point of $3 to over $200, at which point oct gradually began to cash out. After this battle, his assets increased to the tens of millions level.
Although today, with oct's success, this somewhat lucky full investment trading method may not impress everyone with similar experiences, especially those who believe "going all in is wisdom" but endure significant drawdowns. However, it cannot be denied that, looking back through the rearview mirror, oct always manages to penetrate the fog, steadily moving forward in dangerous yet just right rapids...
(Continued)
[To be continued] Source of the story: 0xbeyondlee.eth
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