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 Class of 2018 students 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 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 1: A Glimpse into the Path — Engaging in Trading, Deep Learning#
Despite the varied opinions online about oct's true identity and industry, there is a consensus that he graduated from Shenzhen University in 2018 with a major in International Trade. Against the backdrop of a severe economic and employment situation, the stark contrast between "donating 50 million" and "just two years after graduation" stimulates every internet observer. Many no longer believe in self-made success stories and instead accept a tailored narrative of 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.
Rewind to 2018, when the newly enrolled oct at Shenzhen University, like most people, lacked a clear plan for the future. 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 by 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 nearing $30,000" entered mainstream view. However, unlike most people's disdain, oct chose to set aside his prejudices and began to study and invest in #crypto. The gears 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 investing in US stocks like Bilibili and Hong Kong stocks like Xiaomi, he still weighed the decision to invest all his funds into crypto. The financial market follows the law of the jungle, and crypto is particularly perilous, yet oct is like a cheetah holding its breath. After months of exploration, he locked onto his first target — $sol. With the deep research habits cultivated 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 and 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 capable of running 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 movements of the tokens, as the token concept and price trends are independent, 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 as BNBChain does for Binance and OKChain does for OKX (then known as OKEX), thus 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 invest themselves in the game, and any misstep could lead to losing everything, so they will desperately 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 actions 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 buying sol with all his funds 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 against the impulse to "cut losses." Ultimately, fate favored him, as sol soared to over $200 after a long period of consolidation, at which point oct gradually took profits. This battle 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 suffer from drawdowns. However, it is undeniable that, looking back through the rearview mirror, oct always manages to see through the fog and navigate through the dangerous yet perfectly timed rapids...
(Continued)
[To be continued] Source of the story: 0xbeyondlee.eth
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