After a few days of rest to sort out my assets and plans, I've received a ton of questionable comments in the comments section and private messages, so I've compiled some of my random thoughts from the past two years. This post is quite long, but it doesn't offer any wealth secrets or chicken soup tips, so it's rather boring. I rarely share honest truths on this account, so this is the only one of its kind and I won't be posting again. If you're a fan or someone who wants to get to know me, please continue reading; otherwise, please skip ahead.
When domestic self-media exaggerated that I had made millions of profits by shorting the short to the sharp drop a few days ago, while my actual situation was a spot pullback and arbitrage profits, I once again realized that the truth is not what people pay attention to. What you see online is mostly what others want you to see. In a pyramid-structured industry, no, in any industry, you, my friend, at the bottom of the pyramid, will always see the most concise and easy-to-understand lies that are most in line with the public's impression.
The tree that stands out in the forest will be destroyed by the wind
HongKongDoll's ID and everything about it all originated from a painting. If I were to start from that time, it would be too early, so I'll omit it here. Azuki in 2021, ETH hedging in 2022. What started as a minor hobby with a side account spread like wildfire, becoming a target of public criticism. I've previously written about the price of fame, where extortion and box-opening were just minor, insignificant incidents. A hobby became a burden, rebellion turned into regret, and life was filled with fear. Being hated and exploited by those around you wasn't a good feeling. After more than a year of agony in 2022, I decided to part ways with my ex-boyfriend in mid-2023. From a business perspective, I looked at the investment I'd already made: hundreds of unreleased film clips, multiple top adult accounts. If they were to vanish overnight, it would feel like the enemy had surrounded me, not only sinking my ship, but also urinating on my head. By this time in 2023, the fear had passed. I wanted to curse, but I couldn't. A fire welled up inside me. I chose to use all my money to buy these materials and accounts and do it myself.
Using the false to cultivate the true
How much did I lose in 2023? That's a difficult question to answer. The approximate figure of $8 million is derived from my profit share from the o-station, minus my cash on hand, and then deducting expenses from all accounts and copyright purchases. Yes, when the family split, I paid a sum of money and a property, totaling about $3 million. Then, the margin call in October directly led to my cash being depleted and almost gone to zero. As for the word "bankruptcy," the truth is that I used a traffic-boosting strategy in the early stages, and I knew exactly what kind of plot the public liked, so I created that kind of story.
After posting the bankruptcy tweet, I followed it up with a breakup tweet, capitalizing on emotional coherence to increase traffic flow. While both events were true, I used a misaligned timeline to create a more dramatic lie. The reality was that the breakup with my ex-boyfriend came first, followed by the margin call. After the breakup, I anticipated a decline in content production and the impending collapse of O Station's revenue. I urgently needed a buzzword to activate my two-year-old, but inactive, crypto account—this one. This account would provide additional revenue streams, help me quickly repair my cash flow, and recover the expenses from the separation. The margin call, resulting in zero returns, perfectly connected the dots. In my first year at O Station, revenue was indeed halved. But it was precisely because I shifted some of my focus to crypto that this decision completely changed my perspective.
Why do crypto accounts frequently display their website income? It's a process of self-deception, a process of self-improvement. By then, everything has hit rock bottom, and I can't care less about the wind. The public perception is that I'm the one with "unlimited funds," constantly injecting funds from the OTC market into my crypto account. So, I simply exploit this misconception, endorsing my own empty wallet and leaving more room for public speculation. The reality is that after activating my crypto account traffic in 2023, my on-site funds were zero. The only true unlimited funds are those of teachers who pay regular group fees, a public perception. The only shortcut is traffic, and in the world of traffic, the most sensitive and resonant content is always the amount of money.
So I positioned my account as a "silly guy with lots of money and huge traffic." Initially, my main source of income was advertising. Advertisements were incredibly expensive. At the time, I had two full-year contracts and four half-year contracts. During the traffic boom from late 2023 to mid-2024, I accepted countless ads. My apologies, everyone. I've done a lot of screening and only work with endorsed content. I almost never accept standalone ads, acting as a supporting role. I strive for win-win outcomes through long-term promotion and marketing. Unfortunately, the core of the pure attention economy is "painting a Christmas tree." The world of speculation is full of uncertainty. The only certainty is that the speculative feast will eventually end. If there's one thing that can capture your attention forever, it's you. Regarding the advertising contract for stake, I made a very politically incorrect decision at the end of 2023. After the 2024 contract ended, I rejected all ads related to web2 or web3 gambling, even prediction platforms. I singled this out because I've reflected on this issue many times.
From speculation to investment and then back to speculation
From the end of 2023 to the beginning of 2024, when I didn't have much capital, I tried various ways to increase my income, including expanding into adult products and promoting adult accounts. The adult products business was incredibly successful, but it's not relevant to this topic, so I'll leave it aside for now. At the time, I was still a retail investor in the crypto world, activating only traffic. I harvested waves of traffic through inscriptions, memes, and pre-sales, and enjoyed a wave of Christmas tree carnivals. My risk appetite shifted significantly after the margin call, so only a small portion of my capital was making gains and losses in this speculative feast. Then, when Ethena came along, I went from making my first deposit to making additional deposits and then buying a large amount of YT. Ultimately, the combined rewards almost doubled my entire principal. This was the first time I earned money equivalent to my principal without relying on traffic. Besides that, I started my Bitcoin hoarding journey at the end of 2023. What you'll probably see most in 2024 is me adding to my holdings during dips or recaps of my Bitcoin hoarding. Backtesting then, and now, shows that DCA BTC can outperform any strategy. It's just a matter of time. I was so convinced of this that I basically converted any profits I made back into the mainstream coins I currently hold. I used the dumbest method, but I managed to maintain steady growth during the upward surge in early 2024. However, when BTC first reached 100,000, I introduced rebalancing, keeping my holdings at around 20%, adjusting them monthly to free up more funds for my arbitrage and DeFi practices. Later, I changed my strategy again, no longer selling BTC, and instead set a lower limit on my BTC holdings, balancing only with other currencies.
This investment strategy is essentially a race between my traffic profitability and time. I'm an attention economy. I don't have a long-lasting top-tier audience, only time slipping by unnoticed. As my attention slowly fades, I feel like time will win. As I expected, the accumulated income from my first year of part-time crypto surpassed my income from my previous year's O-station, which was cut in half. Of course, I've had my moments of complacency. After accumulating a substantial amount of capital over 24 years, during the peak of the FoMo (FoMo) period, the angel and KOL rounds I invested in almost all ended in failure. Very few projects are still around.
I really started making money on a large scale after 2025. This year, I rarely took on advertising, but mostly focused on KOL rounds and platform contracts. But this year has been crazy. Trump launched a coin late at night, the US SP500 fell 11% in two days in April, and tech stocks doubled in six months. Trump's election made speculation the main theme of the year. I also met many benefactors, and I got many things right by imitating the smart money. Various small groups gathered the top people in the Chinese community, all of whom I imitated. Why imitate instead of learning? In actual operation, not only is the window of opportunity fleeting, but all kinds of unexpected situations can occur. Learning alone is no guarantee of execution. Only by imitating, copying, and practicing can you move on to the next step, perfect the details, and understand the principles. It's like a quick and evil practice. I slowly began to transform from the most stupid investment to speculation through continuous practice.
During the meme's ebb in the first half of the year, I managed to maintain some profits, with assets in the market fluctuating around $4 million. During this time, I built a script for cross-exchange arbitrage, but due to insufficient investment, the profits weren't significant. I'm slowly adjusting my investment. The surge in mainstream cryptocurrencies in the second half of the year, especially BNB's ATH, nearly doubled my holdings. Then there was XPL's $1.1 million last month, and last week's de-pegging event, where WBETH's value reached $1.8 million. With that, I've achieved my planned $8 million return. However, profits from occasional de-pegging events are almost impossible to replicate; they require a combination of luck and courage. If the funds weren't in my spot wallet, I wouldn't be able to operate or make as much profit, as the lowest point was so low that transfers and deposits and withdrawals were impossible for several minutes. This all came as a surprise to me, as I was managing Binance's fund collection at the time, with all my funds in my spot wallet, using profits from XPL.
Looking back at this account, it's grown from 900,000 followers when it was activated to 1.6 million now. However, traffic has decreased rather than increased due to changes in content, which is actually reasonable. My plans going forward are relatively simple. I'll continue to focus on what I do best, further reducing my time commitment while maintaining the same production capacity. However, I'm unlikely to share much on this account anymore. This account will return to its original state, starting from scratch and focusing on whatever's popular. Some of my accounts will gradually begin sharing what I'm working on, and my identity may change accordingly. Don't expect anything less.
Be a fool's opponent or teammate
Looking back over the past two years, I often wonder: Who are we really playing against? I often see discussions about the disappearance of the dividend, some even suggesting the crypto has reached its end. They argue that as time passes, the Darwinian effect becomes more pronounced, weeding out the fools in large numbers. With so few fools, wealth transfer naturally becomes difficult. I think there's some truth to that; speculation requires playing against the fools. But from another perspective, the blockchain paradigm hasn't fundamentally shifted. I believe mass adoption is still in its early stages, and the singularity has yet to arrive. When the blockchain world one day shifts from casinos to everyday life, when the paradigm shift occurs, and wealth is no longer primarily transferred but created, when fools and smart people share the dividend, then the true dividend phase will begin. In other words, investing requires being the teammate of the fools. It's too early to draw conclusions, and I think this is why I'll continue to exist.
What should newcomers do?
From my perspective as a retail investor, I have only a few words to say:
· Try not to work alone. There must be a teacher among your group members. Reference is very important. Look at the logical content output to avoid being influenced by traffic. Carefully identify your role models or templates.
· Have at least two Twitter accounts, one in Chinese and one in English. Open different accounts at different time periods to break out of the information cocoon and mute the flow of gossip.
Maintain execution, maintain patience, maintain safe position management, do what is appropriate for the amount of funds you have, don’t All In, just stay alive first.
Another habit of mine is to review and organize tweets. Good tweets are worth reading again and again. I will put some of my favorite tweets into Google Sheets for classification and organization to prevent deletion and facilitate quick search. Then I can ask questions at any time using GPT (it is best to add a prompt to list reference links and cross-validation requirements).
The real version of me won’t tell you that there is hope if you don’t give up, or drink less chicken soup, but I will tell you that there is hope if you become smart, break away from your environment, and make unrestricted decisions.
About Me
Should I continue filming? Have I finally made it? The concepts of landing and freedom don't exist in my mind. Because I've been managing accounts for a long time, the time costs of pre-production for O Station have been reduced to a negligible level. All that's left is to manage the active accounts, which are almost free. I don't need to film anything, and I still earn over $1 million annually. This zero-time income is the reason I bought all this footage in the first place. You see these videos as just videos, but I see the years of life the account can continue to live. If you imagine me filming and suddenly pulling out my phone to check the K-line chart, I'd be a little overwhelmed.
Why did I go back to school? I went from a summer school experience to actually starting school in the fall. Many close friends in the crypto didn't understand my decision to go back to school, thinking there was no point in going back when I already had some money. I started school partly to complete my bucket list, and partly because I didn't want money and crypto resources to be my only gains from this cycle. I know many people espouse the idea that academic qualifications are useless, but even if I started a business without a degree, investors would still look at which school I was a dropout. It's better to be clear-headed and not fantasize about being that one-in-a-million martial arts prodigy. The time cost of learning something is manageable, and working with others can demonstrate your knowledge level. But at first glance, your educational background is still the most direct social label imposed by others. Those lost social experiences will eventually have to be regained bit by bit. It's difficult for someone with no background to maintain the control that comes with wealth over the long term. I don't want to create an awkward ceiling for my future.
Why didn't I block the accounts that insulted me after opening boxes and let them comment? I really like this version of the story, so I won't block those who promote it. The bottom of the pyramid gathers the most people, looking up. I give them whatever they like to see, no matter if it's real or fake, real or fake. I actually hope that they can dedicate their entire lives to helping me promote Wang Jiale. I would be happy to see that. If it weren't for this, and they just wanted to vent their insults and affect the views of other followers, I would probably just block them. In fact, it was only this year that I went from disgust to understanding. Later, I realized that these people are also using traffic as a means of survival. Without traffic, they can't accept advertising. It is my principle not to disturb others to make a living. I will neither destroy their jobs by blocking them or cut off their connections, nor will I reward them for their food by arguing and cursing. I see through it but don't say anything.
Off topic: I have remembered for two years the highly-praised reply under the bankruptcy post from a classmate who said that my wealth was not worthy of my position. I remind myself of this every time when my knowledge and actions are inconsistent. I don’t know if he is still in the crypto, but I am still very grateful.
Of course, there may be another version of this story. I hope I can write it down in words in my lifetime. At the end of the article, I will definitely add "surprise motherfucker"
