A Bitcoin trader revealed: After seven years of Bitcoin trading, he went from earning less than 10,000 yuan a month to owning two houses in Beijing

I was attending a Chinese culture training class when my WeChat kept ringing on my phone. I opened it helplessly and found that several friends and relatives had sent me messages, almost all of which were related to Bitcoin. One Bitcoin has fallen below $10,000. Is it time to buy at the bottom?

I believe that it is not only my relatives and friends who have this question, but also countless investors who are waiting and watching. In the spirit of sharing, I would like to talk to you about my experience of investing in Bitcoin in recent years. Recalling my seven-year career in Bitcoin speculation, I, who had a monthly salary of less than 10,000 yuan, made tens of millions of dollars and bought two houses in Beijing. However, I once couldn't sleep because of Bitcoin speculation and needed to see a psychologist.

My first close encounter with Bitcoin

Since I work in a well-known Internet company, I have a natural advantage in being exposed to the Internet, especially because I am surrounded by technical experts who are exposed to cutting-edge things earlier. There is a technical expert named Wang, who is very kind. We usually jokingly call him Lao Wangba. Although he looks wretched, his technology is indeed first-class. That was at the end of 2010. I went to his house for dinner one time. As soon as I entered the door, I was shocked by the loud noise and unpleasant smell. I thought that although programmers' lives are not particular, they should not be so sloppy. When I walked in, I saw several computers running, and the fans kept spinning to dissipate heat, which immediately aroused my curiosity.

After two glasses of wine, Lao Wang's face was red and he was a little tipsy. I couldn't help my curiosity and asked what kind of black technology these things were. Lao Wang pretended to be mysterious and put his mouth close to my ear and whispered, "Brother, this is Bitcoin. I am mining day and night." I was stunned. What kind of currency is Bitcoin? Mining is actually done with a computer? Lao Wang said, "Brother, you are good at other things, but you don't understand this." He generously showed me the coins he had mined. When I opened my account, a string of characters came into view. Lao Wang said that he had mined hundreds of them. I asked him to give me a few Bitcoins, but he refused, saying that he would keep them for his son to marry after they appreciated in value. This was my first close contact with Bitcoin.

I exchanged 2 bottles of liquor for 5 bitcoins

What? Bitcoins are earned from drinking? Yes, other people’s Bitcoins are earned from mining, but mine are earned from drinking.

Ever since I saw Lao Wang's Bitcoin, I've been thinking about it. I asked him for it many times but to no avail. Asking for Bitcoin was like asking for his life. One time, Lao Wang came over with a smile and said, "Brother, do me a favor. I haven't been able to negotiate with a big client. Every time we meet, I'm overwhelmed after two drinks... This time, you can help me block the wine..." When I heard it, I thought it was a good opportunity. He asked me to give him 10 Bitcoins in exchange for helping him. After some bargaining, he finally said that if I could get this big client, he would give me 5.

That night, I used my strengths of being a good drinker and talker to entertain the guests at the table, while Lao Wang gave a professional explanation. Finally, with his excellent skills and strength, Lao Wang successfully won the order, and I also exchanged 2 bottles of liquor for 5 bitcoins.

When the price was $ 1,500 , I thought a “big bull stock” had been born, so I sold everything.

As the number of bitcoins mined decreased, and the time to mine one coin increased, Lao Wang became anxious. In his words, this thing should be kept for 20 years to buy a house and marry a wife for his son. So he bought some graphics cards, increased the horsepower, and ran it day and night. Due to the excessive load of the equipment, the computer could not bear it. Before he could mine many bitcoins, the equipment was paralyzed. To be more precise, Lao Wang's computer exploded and smoked...

Ever since the mining machine exploded, Lao Wang realized that it was becoming increasingly difficult to mine coins, and that they could only be obtained through transactions. However, there were few channels for circulation at that time, and it was not easy to buy them. The most important thing was that early players mined coins by themselves and waited for appreciation, and mining equipment was also an investment.

In March 2013, Bitcoin trading gradually became popular. The price rose rapidly from $100 to nearly $500. During this period, I followed Lao Wang and bought some. The main reason was that the market was not formal at that time. My main funds were still in A-shares. Then on April 10, Bitcoin entered a staged high of $1,550. It rose so fast and so much. In the words of A-shares, a 15-fold bull stock was born. I basically sold all my shares near 1,500, and Lao Wang also sold some appropriately. In Lao Wang's words, happiness came too suddenly, it was simply a blessing from heaven. I originally planned to take 20 years, but I didn't expect to achieve a small goal in a short time.

A few days later, the price fell back to around 400 US dollars, and then in May, it fell below 100 US dollars. Lao Wang also bought it back, but I only had one bitcoin left, which I did not buy back.

Even my relatives in the countryside called to ask how to open an account.

The news that Bitcoin can make money spread quickly. Even my relatives in the countryside knew about it and called me to ask how to open an account and how to trade. Although I advised them to be cautious, they just wouldn't listen. In the end, it was Lao Wang who helped me solve it all.

During this period, I saw a relative buy from 100 US dollars and sell for more than 600 US dollars. I was envious. Then I opened my own account, there was only one Bitcoin in it. I couldn't help but buy some more. But then it started to go sideways. I used the trading mindset of A-shares to trade Bitcoin, and found that various technical indicators were not necessary at all. I could only use a moving average system. Various platform breakthroughs and single yang breaks all failed here. I didn't succeed in buying low and selling high many times, which resulted in a lot of profits I earned at the beginning being lost.

Since the speculation idea of ​​A-shares is not suitable, then change the method. If the short-term is not suitable, change to the long-term. After several months of adjustment, in early 2015, I sold some A-shares and re-invested in the Bitcoin battlefield. At that time:

The above transactions really made me a small profit.

All the profits from Bitcoin were lost in A-shares

Although he made a fortune, he sold his Bitcoin and jumped back into A-shares in early May 2015 as he watched Bitcoin fluctuate sideways in a narrow range and A-shares were a bull market. This was the craziest time of the bull market and also the end of it. You all know the ending. With the stock market crash, he directly lost nearly 50% of his principal.

The losses from the stock market crash made me reflect on my mistakes, and I finally decided to return to the Bitcoin trading market. As the market grew, the trading systems that were originally in English now also came in Chinese, and I no longer needed Lao Wang's guidance. On August 13, 2015, I got involved in Bitcoin again, 300 Bitcoins, and I was able to hold on to them this time. Although there were fluctuations during the period, I held on to them without moving.

I made money, but I have been suffering from insomnia and need to see a psychiatrist

Since I bought Bitcoin at a low price after the stock market crashed, I felt at ease and didn’t pay too much attention to it during the period of sideways trading. I seemed to have forgotten about holding Bitcoin during my daily commute to work. But as the market became hot, especially when it rose to more than 1,000 yuan, every day was a mixture of sadness and joy. I could only watch it go up all the way but not the pullback. As soon as there was a pullback, I would start to have all sorts of random thoughts, wondering if it had reached the top or if I should sell it. I couldn’t sleep even though I made money. I don’t know how many people have experienced this.

I even saw a psychologist for this, but it didn't help much. Especially when I saw the news of bitcoin theft on the Internet, I couldn't sleep anymore. I was tormented day and night, and finally made a decision to sell all 300 bitcoins.

Some things, if you miss them, you will miss them for a lifetime

On November 26, 2017, after selling the Bitcoin and withdrawing all the funds back to the card, I finally felt relieved and slept well.

But in the next three months, Bitcoin rose so wildly that I sold it at nearly 9,000, but it almost doubled again after I turned it over. I wanted to rush in again, but when I thought that making money would be more painful, I stopped my greed and chose not to pay attention. Because I understand that money is like sea water, the more you have, the thirstier you become.

Missing the opportunity to double the sub-asset again is like losing a school district house in Beijing. I don’t know if Bitcoin will double from 8,000 to 16,000 in three months in the future, but I know that some things, once missed, will be missed for a lifetime.

From a monthly salary of less than 10,000 yuan to owning two houses in Beijing

When I came out to make a living, my idea was simple: even if I couldn't be rich in Beijing, I would go home and be rich. Now I can be rich if I go home, but can I really go back? Can I really change the living habits I have developed in Beijing for many years? Thinking about the college entrance examination system in my hometown, it is really a one-plank bridge for thousands of people to cross. My child is about to go to kindergarten. Should I send him back to my hometown to go to kindergarten or keep him in Beijing? This has become a difficult problem for my husband and I.

"The first step to genius, XX diapers", this slogan has been lingering in my mind for many years. It means to let children win at the starting line from birth. Thinking of this, after discussing with my wife, we decided to keep the child in Beijing, not for anything else, just to let the child enjoy a better education. I will do my best to move the child's starting line forward, even if it's just a little bit.

Then, my wife's next words made me pay the price of a house again. My wife said that the best education in Beijing is in Haidian, and a colleague of mine happened to have a house to transfer. It would be more convenient to go to school and live in Haidian. I nodded helplessly. Who made me move the starting line? I made the decision myself and I had to complete it with tears.

This is me. I started out as a small person with a monthly salary of only ten thousand yuan. I made tens of millions through my seven-year Bitcoin career. Now I own two houses in Beijing and have a happy family. Perhaps my experience is a microcosm of the thousands of people who have moved to Beijing.

postscript

As for friends and relatives asking whether to buy the bottom of Bitcoin, I think that existence is reasonable. Bitcoin is a Pandora's door. Once it is opened, there is no way to close the door. You can buy it, but not now. You have to wait for more clear signals to appear. The bubble has already formed. I myself will not intervene in this market again in the short term.