On the morning of June 17, the partially collateralized stablecoin project IRON Finance on Polygon plummeted to near zero due to a run on the governance token, dropping from a high of more than $60 to $0.000000015109. Currently, TITAN is quoted at $0.000002462, up more than 160 times compared to the lowest price.
Many investors involved in this event lost a lot of money, however, an investor nicknamed “I am outside the bureau” made 600 ETH (equivalent to about 8 million yuan) with 60 ETH in this event, how did he do it?
Today, we found this mysterious investor who revealed to us how he dared to bet against the odds and made nearly 10x returns in just 2 weeks, and he also shared his views on DeFi and the blockchain industry.
This investor does not have the characteristic of “chasing the upside and killing the downside” that most investors embody, but is good at laying low and watching patiently. In the process of TITAN’s continuous rise, he did not rush to make a bid, but kept close observation, and when the project encountered a crisis and the price of the coin plummeted, no one asked for it, he decisively made a bid and built a position in steps, and eventually made a great profit.
He has been involved in blockchain investment since 2012, and has achieved financial freedom. Talking about the concept of wealth, he said people need more the ability to make money than direct money, and spiritual wealth is more effective than giving material wealth. So he didn’t choose to donate his wealth, but chose to send out red packets in the group, help his family to open a store or make investments, to satisfy his own heart and make people around him happy.
Note: This article is only to report the situation of investors under the IRON Finance run crisis, does not constitute investment advice, please be cautious.
Counter-trend Plunge: 800,000 to 8 million
Babbitt: You made more than 600 ETH (about 8 million yuan) on TITAN, which is quite a big number. When this project went to zero, a lot of people lost a lot of money. Why did you have the confidence to bottom out?
I was outside the board :
First of all the project almost went to zero and I was getting almost the lowest priced chips. Secondly, I lurked in their English telegram group and I found that the numbers were high, the heat was high, and they were doing very successfully before the crash. I think the project side will not easily give up a successful project, will certainly come up with a compensation plan, and eventually I decided to buy 60 eth, bought in several times, a little bit to increase the position. I bet on the team’s enthusiasm, flow and responsibility, even if they fail, they will get up again.
Babbitt: Did you hear about this project before you went to zero? Did you invest in it?
I was outside the board:
No, because the price is around $60, which is very high, so it’s more likely to buy at a high level and take over. Investment is generally advance ambush, low price ambush, low price plunge, and only early layout, it is possible to turn 10 times, 100 times. If you turn 100 times after 100 times, that is 10,000 times, it is very difficult.
Babbitt: The project was zeroed out on June 17, before that there was no sign of zeroing out at all, even Mavericks owner Mark Cuban was still endorsing the project all the time. And it’s very profitable to mine on it. So, you’ve been watching and haven’t made a move?
I’m outside the bureau :
Yes, many times investment experience tells me that in the peak of the project and then to engage, basically the possibility of hedging is relatively large, the recent project especially so, the group of friends jokingly called the sky death level project. So don’t invest blindly, you must analyze rationally and comprehensively, and gamble on the premise of careful consideration, not on impulse.
Babbitt: You’ve been holding the bottom after plunging?
I’m outside the bureau:
Yes, I am ready to get the project side compensation plan out, the result matcha early online, I out some principal and profit, the rest to the market, ready to hold for a long time. Investment should have a long-term vision, with a simple mind to see the rise and fall of the market, just like the day and night, cloudy and sunny, the tide is rising and falling. The universe is up and down, and the price fluctuations are in line with the laws of nature, so it is very normal to rise and fall. I generally don’t care too much about short-term price fluctuations, I only care that the project side is doing something, hold patiently, the market will give you constant scares and surprises, when you are surprised to sell the tokens in your hands, in exchange for wealth is good.
Talking about algorithmic stablecoin: willing to pay for sentiment
Babbitt: This is an algorithmic stable coin project, how do you feel about counting stable, many counting stable development is not good?
I’m outside the board:
I am very optimistic about the future of decentralized stablecoin, it conforms to the spirit of the blockchain, which is decentralized, censorship-resistant and anonymous, and it represents the future direction of human development. Of course it is not realistic to replace centralized stablecoins in the short term, so the price of algorithmic stablecoins are not performing well, but it is sentiment, it is a dream, it is a beautiful utopia, and I am willing to pay for the sentiment.
Babbitt: Besides this project, what other investments have you made and what are the returns?
I’m outside the bureau:
Basically all have participated, the most recent participation is fei, has been able to anchor 1 U.S. dollars, I’m mining in it, annualized about 110%, the return is very stable, at present their governance token tribe has not been on the big house, the future if on coinbase will have great potential, I also invested. If not on the big house, mining income is also very considerable!
Talking about the industry: blockchain solves the trust problem
Babbitt: How do you understand blockchain as an industry?
I’m outside the bureau:
Blockchain is the see-light industry, the real industry, with data on the chain that cannot be tampered with, which is a challenge to traditional financial opacity. It can solve the problem of embezzlement of charitable donations, solve the problem of lottery draw forgery, solve the problem of centralized data loss …. There are many entry points and many problems that can be solved, so blockchain is an innovation that changes human beings, which can make people live more real, simpler and happier, and at the same time its immutability makes people trust-free and solves the trust problem.
Babbitt: What are some bullish blockchain investment tracks?
I’m outside the board :
I’ve been investing in the spirit of blockchain, such as decentralized exchange UNI, decentralized lending Aave, decentralized storage Fil, all of which have yielded really great returns, blockchain is anonymous, I’ve also invested in anonymous coin Zen, and of course I’ve bought Doge dogcoin and Shib shitcoin with the mindset of gaming entertainment, which is in line with the public’s pursuit of cheesy entertainment. I will invest in similar coins if they appear again. Life needs entertainment, life needs to be funny, after all, living is tiring, we need to be happy.
Babbitt: When did you come into contact with blockchain investing?
I was outside the bureau:
Very early, I researched bitcoin in 2012, but I didn’t buy it at that time, I went to study the principles of bitcoin. The news reports came out with negative news, you can’t listen to all the news reports, listen, you may miss a billion, in fact, the cost of our trial and error is not high, maybe just a few tens of thousands of dollars, but success can make us wealthy and free.
Talking about money: spiritual wealth is more effective than giving material wealth
Babbitt: How do you think about money? How do you spend all the money you make?
I am outside the bureau :
Wealth reached a certain stage, the stimulation of life declined, you can enjoy the quality of life ordinary people can also enjoy, high-speed rail ride business class, airplanes ride first class, hotels live five-star, the house is a villa, the most treatment is this, and there is no special excitement.
Money earned more to disperse, I often send some red envelopes to the group of friends, not a lot, but very happy, they received very happy, I sent a very happy. I don’t intend to donate, the one being given is not necessarily very happy, they need more the ability to make money than direct money. In addition, I helped my family to open a restaurant and a supermarket, and helped them to make investments, which is much better than giving money directly, and giving spiritual wealth is more effective than giving material wealth.
Babbitt: Besides investing, what are your hobbies and interests?
I’m outside of the bureau:
Occasionally recording some tutorials to teach others how to mine. Outside of investing is eating chicken, playing games and snooker. I also have a dog and some greens. I’ve been watching Game of Thrones lately and have printed out the script. I also have a microscope to look at cell structure when I have nothing to do, and an astronomical telescope to look at the stars often to relieve the stress from investing.
Posted by:CoinYuppie，Reprinted with attribution to:https://coinyuppie.com/titan-investor-how-i-made-10-times-more-money-from-zero-coin/
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