“Bit” Jianghu story: some people get rich overnight, some people end their lives after losing 100 million

When chatting with Xu Yinglong, people often equate blockchain with the “coin circle”. Xu Yinglong explained that blockchain technology and electronic money are related, but the two cannot be equated. The latter is full of risks and uncertainties. . In the first half of 2021, Bitcoin surpassed 60,000 US dollars. Against the background of fanaticism in the currency circle, Xu Yinglong’s words were scorned by many instructors, thinking that he was too conservative. Only a few months later, with the price of Bitcoin cut in half and the country’s heavy blow to the chaos of currency speculation, they understood what Xu Yinglong said-but many of them had no chance to look back.

"Bit" Jianghu story: some people get rich overnight, some people end their lives after losing 100 million

The emotions and destinies of countless people have changed rapidly with the trend and policy changes of virtual currencies.

In Shenzhen in March, Xu Yinglong showed me a short, miniature social experiment in a taxi.

It was Nanshan District at midnight, and the rush hour was still going on. Online ride-hailing queued up to 200 people to start, and the traffic on the road moved forward like shattered steps. “Master, do you know Bitcoin?” Xu Yinglong, who had just concluded a business negotiation, threw a question to the driver on a whim on the way back to the hotel.

“I heard about it on TV newspapers, but I didn’t understand much.” The driver’s answer was concise and peaceful, not to refute the passenger’s face, but also to quickly end this uninteresting topic.

“Master, how many years have you been driving?” Obviously, Xu Yinglong wanted to continue talking.

The driver said, “For more than ten years, I have changed from a young man to an uncle.”

“If you spent $2 to buy a bitcoin ten years ago, it will now be 380,000 yuan.”

Before the voice fell, the red light, stop. The driver turned his head and looked at Xu Yinglong with incredible eyes, “What is Bitcoin?”

"Bit" Jianghu story: some people get rich overnight, some people end their lives after losing 100 million

Xu Yinglong tried to use this experiment to prove, “This is what most people think of Bitcoin. They don’t really care what Bitcoin is, and they don’t know much about blockchain, but they are interested in making money.”

Most of this blind pursuit of money started with fanaticism and ended in a mess.

“It doesn’t matter whether it is a taxi driver, a speculator who breaks into the blockchain field with hot money, or a young man who follows the trend and dreams of freedom of wealth, the essence is the same.”

"Bit" Jianghu story: some people get rich overnight, some people end their lives after losing 100 million

“If I give you some investment advice, the first one is: all the money you earn in your pocket is the realization of cognition. In any field, don’t try to break through your own cognition and become a leek.”

Having said this, Xu Yinglong, the fund manager born in 1988, returned to the guest room of the Marriott Hotel in Central China. I was born in 1988, humming the “Streets of Shenzhen” by five people and returned to the Hanting on the side road next door.

A few months later, the word became true.

"Bit" Jianghu story: some people get rich overnight, some people end their lives after losing 100 million

In March in Beijing, a few days of sand and dust invaded, it seemed that the glasses were covered with dust, and I couldn’t see clearly, but the sky was clear for a few days, and it suddenly became clear.

Xu Yinglong’s home stadium in Beijing is located near the Caishikou of the South Second Ring Road. Several courtyards facing the street should have been renovated in recent years, and one of them was taken over by him a few years ago.

In 2021, as the Bitcoin transaction price exceeded $60,000, Xu Yinglong’s courtyard became lively, and visitors came to “learn from the classics” in an endless stream.

Xu Yinglong smelled the familiar, warm but dangerous smell again.

"Bit" Jianghu story: some people get rich overnight, some people end their lives after losing 100 million

Xu Yinglong’s understanding of blockchain began when he first came into contact with Bitcoin in 2011, when he was studying at Royal Holloway, University of London, UK, and his classmates had already used Bitcoin for game point card transactions.

But at that time, Xu Yinglong was not very interested in this. He was obsessed with photography. This was the way he saw the world in his early 20s. He spent a year taking a picture every day and published the photo album “Light and Shadow Chengge England 365 Photography Diary”.

"Bit" Jianghu story: some people get rich overnight, some people end their lives after losing 100 million

He wrote at the end of the album: “I’m no longer the boy with skateboarding shoes and pigtails. Even though I make friends all over the world, I am singing, laughing, swearing, and gagging, but there is something else in my body. A self will always float on top of my head, he looks at me quietly, he doesn’t say anything, he looks lonely, he is thoughtful.”

Unlike many young talents who set themselves as “made from scratch”, Xu Yinglong never shy away from his father’s support for him in the face of the media. After returning from studying abroad, he quickly emerged in the traditional industry by virtue of his capital, contacts, and knowledge reserves.

"Bit" Jianghu story: some people get rich overnight, some people end their lives after losing 100 million

Xu Yinglong really entered the blockchain field investment in 2017. That was the last round of Bitcoin’s bull market. Bitcoin rose by more than 1600% and once exceeded the $20,000 mark.

The emotions of countless people fluctuate with the trend of Bitcoin. A lot of capital poured in, fanatical speculators and swindlers also began to enter the market, followed by a sharp drop in Bitcoin, and digital currencies entered a bear market…

"Bit" Jianghu story: some people get rich overnight, some people end their lives after losing 100 million

In the face of one-sided negative public opinion, people who were still talking and laughing a few months ago collapsed in confidence, some withdrew, and even faced the fate of being unable to turn over, they ended their lives early.

In June 2021, Xu Yinglong saw a similar scene again, but his psychological endurance is no longer what it used to be. He is used to adding the word technology after “blockchain”. He believes that the world is driven by technology.

The impetuousness of the currency circle dissipated, giving Xu Yinglong time to calm down and dormant. He came together with people who had the same idea, and continued to study blockchain technology and advanced algorithms. He believed that in addition to digital currency, blockchain still There are more possibilities.

“The big waves are scouring the sand, and all that is left is gold, which will always shine.”

"Bit" Jianghu story: some people get rich overnight, some people end their lives after losing 100 million
"Bit" Jianghu story: some people get rich overnight, some people end their lives after losing 100 million

When I returned to Beijing from Shenzhen, Xu Yinglong and I met for the first time in a slightly dark but accented room in the basement of a courtyard house.

When I met him, he was talking to a friend in the photography circle-yes, I almost forgot that he still has the identity of a photographer.

In 2017, the photographer gave 13 Ethereum ETH (digital currency) to a friend and invested in an “air coin” project-this is a virtual currency without physical project support, without any value, and relying purely on marketing methods. Using marketing tactics such as “high profits” and “only up but not down”, lure speculators into the market and then leave the market, regardless of whether the speculators live or die on the market.

“You should ask him to return the loss! This must be returned!” Xu Yinglong was a little excited, “you count how much he lied to you.”

"Bit" Jianghu story: some people get rich overnight, some people end their lives after losing 100 million

Seeing that the other party hesitated, Xu Yinglong continued to enlighten, “I want to get the money back, isn’t it good to buy more Leica lenses?”

This sentence made the photographer determined to go to the court to sue the other party—just like talking to a taxi driver in Shenzhen, Xu Yinglong can always pinpoint the other’s emotional changes.

Xu Yinglong hates people who fish in troubled waters in the blockchain field, and people who slander and deceive under the banner of digital currency, especially in the bull market in the currency circle, there are many such people.

“If one day everyone talks about the’blockchain’ discoloration, it is caused by these scammers, and the real blockchain technology is progressing and developing.”

After sending off his friend, Xu Yinglong asked the taster to pour him a glass of whiskey, smell it, and take a sip. Usually a glass of whiskey can be drunk all night. One side of this room is a wine wall, and whiskey accounts for the majority. He said that most people in the circle are good at it.

"Bit" Jianghu story: some people get rich overnight, some people end their lives after losing 100 million

Some of the wines are very interesting. They are customized models of blockchain bitcoin. Each bottle has its own number. Only 210 bottles are produced for one wine, which is a tribute to the number of 2100.

The global financial crisis broke out in 2008. On November 1st of the same year, a person who claimed to be Satoshi Nakamoto published a Bitcoin white paper “Bitcoin: A Peer-to-Peer Electronic Cash System” on the Internet, stating his new vision for electronic money ——Bitcoin is here.

On January 3, 2009, the Bitcoin genesis block was born.

"Bit" Jianghu story: some people get rich overnight, some people end their lives after losing 100 million

In short, in the era of currency inflation, Satoshi Nakamoto defined Bitcoin as a deflationary currency. The total amount of Bitcoin is limited to 21 million. People all over the world can use the computing power of computers to mine Bitcoin, commonly known as “Mining”.

Satoshi Nakamoto stipulates: Bitcoin can be subdivided to 8 decimal places (satoshi) at least, Bitcoin generates a block every 10 minutes, and each block issues 50 Bitcoins (miner rewards), every 210,000 blocks After the block, the output of each block is halved. Therefore, every four years, the bitcoin issued by the block will be halved.

Correspondingly, mining is more and more difficult to calculate and consumes more and more resources-some scientists estimate that if Bitcoin is regarded as a country, it will be among the top 30 countries with the largest electricity consumption in the world .

Excessive consumption of resources has caused “mining” to be criticized and laid the groundwork for subsequent attacks from the national level.

"Bit" Jianghu story: some people get rich overnight, some people end their lives after losing 100 million

In June 2021, the iron fist finally fell.

Following Inner Mongolia, Qinghai and other places, Sichuan, where cryptocurrency mining farms gather, has also started clearing and retreating mining projects. Before this “catastrophe” in the currency circle occurred, although there were some signs and rumors, the miners were obviously not prepared to deal with it.

"Bit" Jianghu story: some people get rich overnight, some people end their lives after losing 100 million

Due to geographical advantages and energy advantages, there are large and small cryptocurrency mines in southwest China. Those with capital, no matter what channel they use, can range from dozens to hundreds of units. They trust their own mining machines in these mines and are maintained by dedicated personnel. After removing the electricity bill every month, profits are made according to the trading price of the cryptocurrency.

But in fact, the real core area of ​​the “mining circle” is Shenzhen, in the Greater Bay Area. Here is the world’s most developed manufacturing industry, chip development company, here is the top of the pyramid of the mining circle and the entire blockchain.

"Bit" Jianghu story: some people get rich overnight, some people end their lives after losing 100 million

In Shenzhen, we once met a mining machine manufacturer. During the conversation at the time, he maintained optimism and confidence in his products. He had just settled the output of mining machines before the country cracked down on “digging sites”. problem.

"Bit" Jianghu story: some people get rich overnight, some people end their lives after losing 100 million
"Bit" Jianghu story: some people get rich overnight, some people end their lives after losing 100 million

On the second day after chatting with the taxi driver, Xu Yinglong got up early and made an appointment with her business school classmates in Shenzhen for a morning run in Shenzhen Talent Park. He went to business school to study as a fund manager and made many friends.

Students from traditional industries did not understand why Xu Yinglong only focused on investment in the field of blockchain technology, but he became a guest on this trip to Shenzhen. After running, they taught Xu Yinglong to play golf in a golf course in Nanshan District. Xu Yinglong taught everyone what blockchain technology is and how to treat investment in the blockchain field correctly.

"Bit" Jianghu story: some people get rich overnight, some people end their lives after losing 100 million

In addition to this golf game, Xu Yinglong participated in six business dinners in Shenzhen for two days, including a breakfast, ran to five companies he invested in, and met with three waves of customers.

Originally, Xu Yinglong wanted to stay in Shenzhen for a few more days, but he had to return to Beijing. He will not miss the new blockchain field in recent months when he invests in the whole track-March 11, 2021, the American crypto artist Beeple’s The NFT artwork “THE FIRST 500 DAYS” was auctioned at Christie’s for a high price of US$62.95 million, and the concept of NFT encrypted artwork was popular in the circle.

Xu Yinglong, who defines himself as a fund manager, does not want to miss every opportunity for layout.

"Bit" Jianghu story: some people get rich overnight, some people end their lives after losing 100 million

A few days after Xu Yinglong returned to Beijing from Shenzhen, I followed him to participate in an encrypted art exhibition called “Virtual Habitat” held in Beijing 798. This is the world’s first large-scale offline exhibition. He is looking for it here. Opportunities to lay out blockchain NFTs.

The curator of this offline exhibition is a “post-90s” artist Sun Bohan, who is also a good friend of Xu Yinglong.

"Bit" Jianghu story: some people get rich overnight, some people end their lives after losing 100 million

Sun Bohan and I talked about what he was doing, “NFT is the abbreviation of (Non Fungible Token), which means non-homogeneous token. It is an encrypted digital proof of rights and interests structured on the blockchain. Simply put , It is a property and fidelity certificate placed in the cloud”.

“NFT is a proof of equity that is different from encrypted currency. It is unique and indivisible. Once it is formed, it will never be changed. There is also a distinction between NFT and encrypted artwork. Compared with encrypted artwork, NFT has more thresholds. For example, we A traditional Chinese painting has a unique number after it is put on the chain, and it becomes an encrypted artwork. However, the creation of NFT is logically different from traditional art. It is a form of creation using algorithms. It is a string of digital codes in the blockchain, which is its body. When it comes to the offline physical world, it can be turned into an image for exhibition.”

"Bit" Jianghu story: some people get rich overnight, some people end their lives after losing 100 million

But even if he used the most concise language to tell me what NFT is and what is encrypted artwork, I still feel a little clouded.

Sun Bohan has been dealing with numbers and computers since he was a child. He remembers that in 2002, when computers were not popular, he was sent to learn Photoshop by his mother. After graduating from junior high school, he came to Beijing from Nanjing to study at the Central American High School, and then he was admitted to the Central American Oil Painting Department and held a postgraduate degree.

Because of his childhood experience, he said that he is more sensitive to numbers than other art students. When the postgraduate tutor introduced him to the art of encryption, he was fascinated at once, and thus began his own NFT journey.

At the beginning, he was just a creator, and as he gradually deepened into this field, he felt that this field has a lot to do. During the last round of the bear market, he also insisted on being an encrypted art trading platform for domestic users.

"Bit" Jianghu story: some people get rich overnight, some people end their lives after losing 100 million

If words such as NFT, blockchain, and encrypted artwork are aside, the whole exhibition is more like a contemporary art exhibition, which is mysterious, interesting, interactive and thinking. Before the opening of the exhibition, Sun Bohan estimated that hundreds of people would come in every day and he would be satisfied. But in fact, the number of people who came far exceeded his expectations. Three days before the opening, the audience reached an average of two to three thousand per day.

"Bit" Jianghu story: some people get rich overnight, some people end their lives after losing 100 million

In this exhibition, Sun Bohan has also been authorized to exhibit at “THE FIRST 5000 DAYS”, which allows more visitors to see the “peak work” of the NFT art auction at close range in the physical world. And he and his team members are incarnations of commentators, and they tirelessly explain to each wave of visitors what is NFT and what is encrypted artwork, just as he told me.

"Bit" Jianghu story: some people get rich overnight, some people end their lives after losing 100 million

From traditional art to encrypted art, Sun Bohan feels that art still ranks first. He believes that NFT will eventually dominate the art market. As a photographer, Xu Yinglong believes in this.

Sun Bohan joined a cultural and creative cultivation project in Chaoyang District, Beijing. The 500-square-meter venue will become the world’s largest NFT offline display shop in half a year. Next to him is Li Xueqin’s studio, and behind him is a film production company that wanders the earth.

The next stop of his “Virtual Habitat” exhibition will be moved to Shanghai, and then he will continue to do it one stop after another.

"Bit" Jianghu story: some people get rich overnight, some people end their lives after losing 100 million

Xu Yinglong still believes that the future of blockchain is promising, but it is definitely not just mining, speculation and speculation.

But he is also not sure, in the future, in which form it will be presented, whether it will be a huge bubble, or become the blockchain world with transparent information like the “three bodies” in his imagination.

This future can only be witnessed by those practitioners who are ultimately “leftover” in this industry.

"Bit" Jianghu story: some people get rich overnight, some people end their lives after losing 100 million

3934th Qi

Written | Sharp Picture-Jin Ke Huang Yongliang

Editor | Wisdom Kuang Kuang

Produced | Tencent News

Posted by:CoinYuppie,Reprinted with attribution to:https://coinyuppie.com/bit-jianghu-story-some-people-get-rich-overnight-some-people-end-their-lives-after-losing-100-million/
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