This player correctly predicted the short-term trend of BTC 16 times, earning $100,000.
Written by: Mahe, Foresight News
The arena for making money through trading is no longer limited to exchanges and DEXs. Imagine you open the Polymarket page, sit in front of your computer, and stare at the Bitcoin price chart. On the screen, the Polymarket platform interface flashes an orange Bitcoin icon, and you bet your entire fortune—just $12—on a price increase in Bitcoin at some point. Market odds are highly uncertain, but through your analysis of on-chain data, news updates, and candlestick patterns, a few hours later, the market settles, and you win, your account balance doubling to $24.31. But this is just the beginning. You take a deep breath and bet cross margin again, and you win again, your balance becoming $40.35. And so it goes, with each cross margin-in bet, you accumulate wins like a snowball rolling downhill.
Starting with tens of dollars, then going cross margin in, win big again and again until finally earning over $100,000, this isn't a dream, but a stroke of genius from the account @ascetic0x.
Ascetic's story of getting rich spread rapidly, garnering 4.21 million views, 13,000 likes, and 8,000 saves. Commenters exclaimed "legendary," while others marveled, "Only Polymarket can make small investors rise to the top."
Perhaps every Polymarket player has dreamed of making a fortune quickly with a small investment. Ascetic's wealth story acts like a shot in the arm, giving endless hope to every player who wants to "defy fate."
But the truth of the story is far more than what appears on the surface.
Just one day after his highlight tweet, Twitter user Moses posted to reveal the truth, showing that he created multiple Polymarket accounts and then published the most successful one.
Moses questioned, "Why did he have a $3,000 balance in his first post?" The answer is simple: he was running a massive witch account. He didn't start with $12; instead, he simultaneously maintained hundreds of accounts, each initially deposited with $10-20. Once one account reached $2,900, he immediately started posting. From then on, he made seven trades, all of which were winning. But note that he went all in each time. No real trader would play like that.
Moses criticized him for chasing traffic and seeking attention, saying he'd do anything to become famous. Ascetic even allegedly used other accounts to wash trade his last transaction, forcibly taking the order at his desired price, since normal orders wouldn't be able to absorb enough volume. Moses stated that people should stop blindly trusting these so-called "internet KOL" and do their own research before deciding whether to believe them.
He also posted some failed witch accounts on Ascetic, which only managed to reach $1,000 before collapsing.
These accounts were created 7 months ago, initially tied to the random market for 5 months, and then simultaneously started cross margin-in Bitcoin short-term market trading 2 months ago.
Some accounts quickly went bankrupt, some lost hundreds or nearly $1,000, but only one "survived" to $2,900 and went public.
This tactic is very similar to that of some crypto market analysts who operate both long and short positions simultaneously, using multiple accounts to trade. No matter how the market rises or falls, they can always find screenshots of profitable trades, gaining traffic and attention amidst exclamations of "I'm amazed!"
The controversy escalated rapidly.
On January 18, facing a barrage of threats and accusations, ascetic responded again on Twitter, stating, "In the past 24 hours, I have received more hate and threats than I have in my entire life. Some KOLs are deliberately spreading false information about me to gain attention and boost their traffic, organizing hate attacks under my posts. Others haven't even looked at my profile before launching their attacks, completely ignoring the fact that I have been publicly logging my transactions on Sybil for the past two months. They accuse me of operating a bunch of alternate accounts, but they can't produce any of those accounts or provide any evidence that they ever existed. I have absolutely no connection to Sybil Farms; this is pure nonsense."
Ascetic also warns users against copy trading, as the strategy is extremely risky, and prolonged trading like this will almost certainly result in account liquidation. The reason I personally use this aggressive approach is simply because I believe I'm a good trader and want to prove my abilities and establish myself in the Polymarket Trade community.
What is the truth? It may remain an unsolved mystery, but this incident still offers profound insights for ordinary players.
Don't blindly follow KOLs. Others' success is often difficult to replicate, and there are no true market gurus who can magically guide people to wealth. In the trading market, the seemingly immense wealth you envision is, most of the time, a distant dream.
