At the beginning of 2014, when I entered the university campus, my family was not well-off, and I only had 50,000 yuan in tuition fees (4 years). However, I set an ambitious goal: I hope to save more than 50,000 yuan when I graduate from senior year. In order to achieve this goal, I began to try various ways to make money, including registering on behalf of the app, selling mobile phone accessories, setting up a street stall in the city center, cleaning air conditioners, and even engaging in direct sales, etc. However, by the end of my freshman year, I was still not making enough money.
In June 2015, a friend wanted a loan to open a store. I accompanied her to Changsha to find an intermediary, and finally succeeded in getting a loan of 8,000 yuan, but the actual amount was only 7,200 yuan. When I asked the agent why the difference was due, he explained that it was a handling fee. At this moment, I suddenly realized that this industry can make money. So, I decided to try to apply for a loan online, submitted applications from about 50 to 80 platforms, and successfully got a loan of 80,000 yuan. However, I chose to give up at the last step of disbursement. Then, I searched for customers through post bars, QQ groups, WeChat, and distributing leaflets. In July 2015, I earned 8,000 yuan; in August, I made 12,000 yuan. Since then, I have started to rely on the loan business and can earn more than 10,000 yuan a month.
At the same time, through the introduction of a friend, I learned about MMM funds, which happened in October 2015. I have tried different investment amounts, including 300 yuan, 500 yuan, 1000 yuan and 5000 yuan, and all of them have achieved certain benefits. However, I don't fully understand the logic of this way of making money, so I actively seek help and consultation from online experts. After a period of groping, I finally understood the underlying principle. At the same time, the group of friends also taught me a lot of valuable knowledge, such as Baidu bidding, official account promotion, WeChat marketing and so on.
However, around December, MMM suddenly collapsed, and I also noticed the coming crisis. But unfortunately, I only have 300 yuan left in the trapped funds. On reflection, I realized the need to rely on data to make decisions. So, after MMM was restarted, I used 100 MMM accounts to simulate the internal fund situation, and recorded the data changes in the morning, noon and evening every day. After about 15 days I gained confidence in myself. So, I decided to take out my tuition fees and make a gamble. If it fails, I can still earn the money back through the loan business, which is a waste of 3 to 6 months at most. As a result, with my precise data analysis, I got good results. (Assets at this time are 320,000 yuan)
From February 2016 to December 2016, I decided to give up the loan and began to try to participate in a series of investment projects such as mutual aid order, split order, binary options and crude oil futures trading. However, due to lack of experience, my assets quickly dropped to 100,000 yuan.
From December 2016 to April 2017, I was very grateful to a senior who brought me into contact with calligraphy and painting with trading disks, and partnered with him for 5 months. Since this project needs to promote dealers, I made full use of my previous promotion experience and built a team with more than 10,000 people in a few months, with 10 core members. During this period, I also earned the first pot of gold in my life. However, I gave up around April because this model was not sustainable. Nevertheless, the experience of these months has allowed me to make many friends. At this time, my assets are about 700,000 yuan.
From May 2017 to December 2017, a friend of mine told me that he made 200,000 yuan a month by purchasing NEO (small ant stocks). So, I started to study crazily, and participated in various gatherings and exchange activities, looking for dialogues with various group friends. In retrospect, this experience is a bit funny, because I experienced ridicule, non-reply and even being blocked, which made my mental strength gradually haggard. This kind of life lasted for about 2 months. At that time, I chose to make money by investing in ICOs, private placements, and OTC transactions. Through these methods, I successfully increased my assets to 2 million yuan before September 4, 2017.
However, on September 4, the country issued a red head document, which caused everyone's assets to shrink. It took me three days to carefully understand this red-headed document, and I made my own judgment, that is, clearing and prohibiting issuance rather than prohibiting transactions. Due to the accumulation in the past few months, I can use various foreign platforms proficiently and smoothly carry out deposit and withdrawal operations. I started to collect coins at 20% cheaper than the market price in many groups, because it was almost impossible to trade at that time, and the panic in the market reached its peak. Some users are willing to sell coins at a 10% discount, especially those coins that are very cheap. I am willing to take some gambles based on my understanding. In this way, I directly broke through 2 million yuan in assets around October, and then time passed quickly. By December, my assets broke through 10 million yuan, because the currency in hand did not fall below 30 times of. I was amazed by the rise of those low-priced chips, and I became extremely arrogant, thinking that blockchain is so easy to make money, and it is not difficult to achieve small goals.
From January 2018 to December 2018, it was a year that hit confidence. I created an official account with more than 600 paying users, and the number of normal users is around 20,000-30,000. I provided some investment advice, but it was sabotaged by a boss I trusted very much, which caused me to be severely reprimanded by my group of friends, and I lost more than 1 million yuan myself. Then, I went to Shenzhen to work with other companies to find new ways to make money, but as the cryptocurrency market continued to fall, I was stuck. (I didn't cash out at all before) By December 2018, I clearly remembered that all my funds might add up to less than 1 million yuan, and I felt that my life had hit bottom.
From January 2019 to July 2020, I tried projects such as Pinduoduo, Game Studio, and short video likes, and stayed in the Philippines for a while, and generally made some money. At this time, my assets were around 2 million yuan.
From July 2020 to December 2020, I reconnected with the cryptocurrency field, got involved in DeFi and USDT cross-border arbitrage (Thailand, the United States, China), opened a foreign exchange settlement account in Yiwu, an American company account, a Hong Kong company account, and a large number of personal account in Hong Kong and personal account in Thailand. I myself went to Thailand for more than 8 months. However, due to some uncontrollable events that occurred during this period, my debt reached about 12 million yuan around November. My inner feelings at that time were indescribable. I wanted to escape, but I couldn't do so. I could only try to find a solution. Every day I was in a mental state of anxiety, especially afraid of receiving calls, and I didn’t even go home for the Spring Festival that year.
Faced with tremendous psychological pressure, I deleted all entertainment software and focused on how to make money and pay off debts. Just when I was thinking about making money alone in the rented house, luck came. When I was monitoring some blockchain data, I found that someone was conducting arbitrage operations, using the price difference between the exchange and the chain. So I started to try it and it worked really well for the first month. I then traveled to Thailand where I formed a small arbitrage team of 6 people. Basically, every month we are able to make a profit of 150,000-100,000 US dollars. My inner pressure has also been relieved a lot.
From December 2020 to June 2021, these six months are basically based on arbitrage. Among them, it is particularly fortunate that in April, the DODO project launched an event with a prize pool of about 2 million US dollars. I came up with a strategy to outsmart those bots by generating $60 million to $3 million in volume per day with no-loss trades. Eventually managed to get a 70% bonus, which I then used to pay off part of the debt.
From June 2021 to June 2022, I continued to carry out arbitrage activities, and in June 2021, I noticed that the trading volume of the crab game reached 3-5 million US dollars per day. After a week of analysis, I understood the game's money-making mechanism, including directional breeding pet skills, purity and gold-making modes, etc. So I started around June 20th and continued until the end of September, successfully earning a few hundred ethers.
Due to our participation in the Axie game, we entered the game finance (GameFi) market very early and tried other game projects, such as Zone, Farmer's World, Yuan Beast, Baby (buy coin layout), Jiuzangmao, Xingshark and running shoes etc. Our entry point is arbitrage (such as opening eggs in the Zone, opening boxes in the farmer’s world, and opening eggs in Yuan Beast), just to see if you can find it, so how much you earn depends on your ability to discover.
In May 2022, after the thunderstorm of LUNA, we stopped arbitrage activities, and there were more and more competitors in the industry. In the LUNA incident, because our team is very mature, we were also one of the successful ones, but we were trapped on the chain during the LUNA arbitrage, which caused the price to rise hundreds of times.
From June 2022 to the present, our team has transformed into Lumao (harvesting the short market), and encountered projects such as APT and OP Odyssey. Among them, the number of OP accounts has reached tens of thousands, and the amount of coins obtained in the first phase of BLUR is about 5 million (Because there are many points sold outside the market, the profit is not so high), but in addition to the points, it also made a profit of 200 ethers. At present, the total score of the second phase of BLUR has exceeded 700,000 points, and the ARB AirDrop has also received hundreds of thousands of coins.
Looking back on my past experience, although I have experienced many ups and downs and challenges, I have also accumulated valuable experience and knowledge. Every failure has become the driving force for me to move forward, making me more determined to seek the road to success. I understand that the blockchain industry is unpredictable and increasingly competitive, but I am willing to keep learning and adapting to meet future challenges.
In the future, I will continue to work on exploring more opportunities and applying the skills and strategies I have learned to achieve continuous growth of assets. I believe that through continuous hard work and persistence, I can achieve more and create a brighter future for myself.
No matter what opportunities and challenges the future will bring, I will maintain an optimistic and courageous attitude and move forward bravely.
