In the past seven years of “pretending to be dead”, the mysterious big bitcoin investors made 200 million overnight, and the retail investors rushed into the exchange crazily

Source: the original title of the column “No.4 Qiyang road” of Finance and economics of was “pretending to be dead” for seven years. The mysterious big bitcoin made 200 million overnight, and the retail investors rushed into the market, causing the stock exchange to crash. On February 18, the first day after the Spring Festival holiday, the price of bitcoin broke through the $52000 mark, setting a new record, and the total market value of bitcoin surpassed Tencent. In 2021, bitcoin continued the bull market of the past year and began to rocket. In a short period of more than one month, the price of bitcoin has broken through the threshold of 30000 US dollars, 40000 US dollars and 50000 US dollars, which has repeatedly set a record high. Under the publicity of musk, the richest man in the world, more and more people are paying attention to the cryptocurrencies such as bitcoin (BTC), dog coin (Doge). Under the crazy market, a large number of “leeks” enter the currency circle with the dream of becoming rich. Some people earn 100000 yuan a day, but others lose hundreds of thousands of yuan in a few hours. “It feels like a casino. The bigger the bet, the greater the profit and risk. If you bet right, getting rich overnight is not a dream. If you gamble wrong, you may lose everything in a second.” Li Feng, who just entered the currency circle at the end of last year, said to Fenghuang finance and economics “No.4 Qiyang road”. The mysterious large household withdraws tens of millions of US dollars and realizes financial freedom in seven years with zero operation “I’m so envious of this guy. I spent seven years on it, and I earned tens of millions of dollars without doing anything.” “It is equivalent to depositing 200000 US dollars into the bank and withdrawing more than 30 million US dollars after seven years. This interest is sour.” On the evening of February 16, Wang Tao used to open his wechat group of various coin circles he had added before going to bed to check the chat records. However, he found that many groups were discussing the same thing. At 8:47 p.m. on February 16, 634.3219 BTCs were suddenly transferred from a bitcoin address that had not been moved for seven years. According to the price of about 50000 US dollars / piece at that time, the total value of these bitcoin was about 31375300 US dollars. Source: it is understood that seven years ago, the price of bitcoin was about US $330, and the total price of 634 BTCs was about US $210000, which means that the assets of this account have increased by 150 times without any operation by the holders of this account in seven years. “In fact, I admire this person very much. In seven years’ time, no matter how up or down, we can stop the profit in time when we reach 50000. Our psychological quality is too strong. This is not what ordinary people can do.” Wang Tao said to finance and economics No.4 Qiyang road. Wang Tao entered the currency circle in 2017, which is regarded as an “old man” in the currency circle. Wang Tao believes that there may be many people like the above who have long held a large number of bitcoin positions and kept their currency unchanged. “These people who have been in the currency circle for a long time all have” faith “. Many believe that bitcoin can reach 100000 US dollars or more. These big farmers are” hidden rich people. ” Wang Tao said. When Wang Tao entered the currency circle, it happened to be a bull market. At that time, various ICO projects (blockchain project first issue token) were in vogue, and the story of getting rich overnight happened. At that time, Wang Tao also invested some money in bitcoin and some ICO projects with attractive income and friends’ recommendation, and obtained considerable income in the initial stage. On September 4, 2017, the central bank, together with seven ministries and commissions, comprehensively stopped ICO, which was identified as illegal financing, and domestic exchanges were also closed. This is the well-known “9.4 incident” in the currency circle. “In fact, I later felt the chaos in the circle. Many ICO projects are actually a white paper, which is air currency. It is totally for cutting leeks.” “I felt that it was too unreliable. After making a small profit, I quickly cashed out and left. Therefore, the September 4 incident had little impact on me, but many people around me lost a lot.” Wang Tao to Phoenix Network Finance and economics “Qiyang Road 4” said. After the “9.4 incident”, the currency circle entered a long “bear market”, and Wang Tao paid little attention to bitcoin and cryptocurrency. When communicating with old friends in the currency circle, Wang Tao and his friends once thought that bitcoin might return to zero. Cryptocurrency ushered in a “bull” market, and the influx of leeks led to the crash of the exchange. However, in 2020, the defi ecology suddenly exploded, the price of Ethereum (ETH) continued to rise, and bitcoin began to soar after a cliff fall on March 12, and the currency circle ushered in a big bull market again. Source: coindesk Wang Tao found that his friends who had faded out of the currency circle began to become active again. Looking at the rising figures, Wang Tao could not help returning to the currency circle again. In addition to the “old man” in the currency circle like Wang Tao, many small white users are also attracted by the “wealth making myth” of the currency circle. Especially in the context of the global “water release” in 2020, the currency circle has become another investment choice for many people besides the stock market. Ye Qiu and Zhang Jun, who have been infiltrating the stock market for many years, have recently become the new “leeks” in the currency circle. Not long ago, they downloaded the trading software on the recommendation of their friends and tried to buy some coins. Ye Qiu told’s No.4 Qiyang Road: “what I value most is the emotional value of the group and the value of macro hedging. Stocks and funds, more often have a set of mature rules to follow, growth stocks, value stocks and so on. ” Zhang Jun told finance and economics “No.4 Qiyang road” that “currency circle investment is purely a kind of virtual investment, and there are still some physical objects in stock fund investment. Although there are more bubbles in it, it is still far behind bitcoin. Entering the coin circle is purely curiosity and play. ” But more new “leeks” entered the currency circle with the mentality of “sudden wealth”. More than one interviewee said to Fenghuang finance and economics “No. 4 Qiyang road” that entering the currency circle is to earn a lot of money in the bull market. ” The money circle can make money faster than funds and stocks. “” it’s better than putting money in the bank. “” the threshold of currency circle trading is low. People with less principal like me also have opportunities to get rich ” An insider of an exchange disclosed to finance and economics “No.4 Qiyang road” that due to the influx of new users recently, the trading volume has increased dramatically, and some trading functions of the exchange even went down for a short time, so the technical personnel have been maintaining, upgrading and expanding the capacity. The money circle is full of risks: some people earn 100000 yuan a day, while others lose their fortune. Although there are many stories about “making rich” in the currency circle, Zhou Ming, a newcomer in the currency circle, always thinks that those are not true and do not believe them very much. Until his friend’s story of “getting rich overnight” came true around him. On January 29th, musk, the world’s richest man, released a picture of a dog, which, though not written, triggered a surge in the cryptocurrency Doge. On February 4, musk tweeted again. He forwarded a spoof picture made by netizens. Musk incarnated as the baboon elder in the lion king, holding up “Dog Coin” and saying “you’re welcome” to give back the market’s “support”. On February 8, musk tweeted “who let the dog out” directly pushed the dog coin price to 8 cents, a record high. The market value of dog coin once reached 10 billion US dollars, becoming the eighth largest cryptocurrency. Zhou Ming’s friend is a loyal supporter of musk. When musk started to recommend dog currency, he repossessed Doge. On February 8, the price of Doge reached 8 cents. Zhou Ming’s friend cleared up his hold of Doge, and his assets increased five or six times, making a net profit of nearly 100000 yuan in one day. Zhou Ming was greatly stimulated by his friend’s living example. He immediately invested money into the warehouse for dog coins. But since then, dog currency prices began to fall, “chasing high” Zhou Ming not only did not make money, but also lost part of the principal. “Currency circle market changes rapidly, money is not easy to earn.” Zhou Ming said to, “but I will continue to hold dog coins, which will rise back one day.” In fact, people like Zhou Ming’s friends who earn 100000 a day are very few in the currency circle. More people are reduced to other people’s “leeks”, and some are even “cut” and ruined. In order to obtain high profits, many people have chosen contracts and levers, trying to use dozens of times or even hundreds of times of leverage to “expand by small”, but few people have succeeded. In June last year, a Dalian man, Zheng Xiaowei, lost more than 20 million yuan in leveraged trading by investing in bitcoin, and finally committed suicide by jumping into the sea with his wife and 3-year-old daughter. On June 5, 2019, the suicide of Hui Yi, the founder of bite, shocked the currency circle. The reason for his suicide was that he opened a 100 fold high leverage, which led to the explosion of 2000 bitcoin positions. According to bitcoin, on February 15 alone, more than 250000 people were sold out of bitcoin contracts within 24 hours, with a total amount of 1.581 billion US dollars, or about 10.122 billion yuan. Zhang Jun once experienced the “horror” of leverage trading. He described his contract trading experience to Fenghuang finance and economics “No. 4 Qiyang road”: “I made bitcoin at a loss and didn’t make money. The main reason is that I made a short with leverage. When I was long between 30000 and 40000, I was still profitable. However, I started short from 40000, did several times and exploded several positions, and all the profits in the early stage returned.” But fortunately, Zhang Jun is just playing, the principal invested is not much, so the loss is not much. Wang Tao also told finance and economics “No.4 Qiyang road” that “new people entering the currency circle must remember not to touch the lever, you can not afford to play.” Many foreign institutions invest in bitcoin, and domestic regulation is still strict. The value of bitcoin has been advancing rapidly. In addition to the macro environment and market factors of global “water release”, the admission of institutional investors is also an important factor. In addition to the gray-scale funds, which are well-known in the currency circle, continue to increase the proportion of cryptocurrency positions, MassMutual insurance company, MicroStrategy, Tesla, etc. have announced their investment in bitcoin. On December 11, MicroStrategy, a business analysis firm, announced the completion of a $650 million convertible bond issue, and the proceeds of the $650 million convertible bond (about $634.9 million) will be invested in bitcoin, according to its capital reserve policy. On the same day, it was revealed that Wantong mutual, a veteran US insurance company, had purchased $100 million worth of bitcoin for its general insurance account through New York digital investment group (nydig). As of December last year, there were 23 institutions with more than $50 million in bitcoin holdings, and the combined positions of these institutions amounted to 888864 bitcoins, according to bitcoin transactions. In 2021, the “buy and buy” of institutions will continue. Tesla said in a Feb. 8 filing with the securities and Exchange Commission that it had bought $1.5 billion worth of bitcoin. On February 17, BlackRock, the world’s largest asset management company, announced that it was entering the bitcoin investment field. “Technology and regulations are maturing and bitcoin should be part of the portfolio,” said Rick Rieder, head of fixed income at BlackRock It seems that after more than a decade of development, bitcoin is gradually accepted by traditional institutional investors. However, it is worth noting that at present, countries’ policies towards cryptocurrency are still very cautious. In 2019, Facebook’s Libra project was stopped by the US government. Compared with the special currency and other cryptocurrencies, the supervision of relevant domestic departments has been very strict. Since the “9.4 incident”, the central bank and other departments have issued many statements to remind investors to be alert to cryptocurrency scams and crack down on fraud and money laundering through cryptocurrency transactions. But at present, there is no clear legal basis to prove that the investment in bitcoin is legal, and there is no law prohibiting the development of bitcoin. At the same time, the digital RMB (DC / EP) issued by the people’s Bank of China is accelerating the pilot project in Beijing, Suzhou, xiong’an and other cities. According to the analysis of industry insiders, in the short term, the central bank’s test of digital currency is good news for the currency circle, but in the long run, once DC / EP is really widely promoted, it may once again usher in strong supervision no less than “9.4”. (at the request of the interviewees, Li Feng, Wang Tao, Zhang Jun, ye Qiu and Zhou Ming are pseudonyms.)

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