"My friends around me often express their regrets about being born at the wrong time, having missed out on Taobao in 2008, WeChat in 2013, and TikTok in 2018. However, a broader world is unfolding before us. Web3 offers unlimited opportunities for young people: whether it’s top figures like SBF or ordinary people like us, we should bravely dive in and embrace the waves of the times."
On September 27, a piece of news about "a student from Shenzhen University donating 50 million yuan back to his alma mater" sparked heated discussions on social media, leading to endless speculation. Comments that seemed credible, such as "son of Tencent CTO Zhang Zhidong," "founder of Singapore ABD Capital," and "CEO of a certain company," attempted to portray this young celebrity as a so-called rich second generation. This article will delve into the real story of this self-made genius—Zhang Yufeng. Zhang Yufeng is known by the handle @octopusfeng, hereinafter referred to as oct.
Chapter One: A Glimpse of the Path—Engaging in Trading, Deep Learning#
Despite the various opinions among online observers regarding oct's true identity and industry background, there is one consensus: he graduated from Shenzhen University in the class of 2018 with a major in International Trade. In the current severe economic and employment situation, the stark contrast between "just two years after graduation" and "donating 50 million" stimulates the nerves of every internet user. It is understandable that many no longer believe in contemporary self-made legends and instead accept a narrative tailored for him as a rich second generation or a second-generation entrepreneur. However, those familiar with oct and the web3 field know that this speculation is unfounded, as his true identity is that of a legendary crypto trader who once worked at the well-known crypto exchange FTX.
Rewind to 2018, when oct, just starting at Shenzhen University, like most people, lacked a clear plan for the future. Reflecting on this past, oct feels a mix of emotions, as he had a deep-seated aversion to trading, especially crypto trading. Perhaps influenced by biased reports from certain domestic media on asset trading, oct once believed that all traders, including Buffett, were engaging in high-risk speculation, and that some hedge funds profited solely from their capital scale advantage. "Pure speculation" left a negative initial impression of trading on young oct.
Fast forward to the end of 2020, news like "#Bitcoin surged 300% throughout the year, once nearing $30,000" began to enter mainstream view. Unlike the dismissive attitude of most, oct chose to abandon his prejudices and began to study and attempt to invest in #crypto. At this moment, the wheels of fate quietly began to turn.
If traders can be divided into doers and thinkers, oct undoubtedly belongs to the former. Although he made his first "six-figure" profit by investing in U.S. stocks like Bilibili and Hong Kong stocks like Xiaomi, oct ultimately decided to go all in on crypto. As we all know, the financial market follows the law of the jungle, and crypto is a thorny forest filled with dangers, while oct is like a cheetah holding its breath and lurking. After months of observation, he locked onto his first target—$sol. With the deep research habits developed during his internship in the primary market, oct conducted a comprehensive analysis of the crypto track and sol, and after confirming its accuracy, he put all his funds into it.
It is worth mentioning oct's investment research approach: similar to primary market analysis, he started from the macro crypto market. He believes that the Ethereum smart contract system is a great achievement of blockchain, but the high gas fees have become a significant obstacle to its development. "Like New York, bustling yet congested." Therefore, a public chain capable of running smart contracts with low gas fees became oct's target. After narrowing down the options, there were still many candidates, and oct filtered them from two perspectives:
(1) He believes that the "strong backing" of crypto targets is crucial, as the token concept is independent of price trends, and sol has the strong support of FTX behind it. Moreover, oct believes that "sol will become FTX's sharpest spear," as a controllable and excellent public chain is highly beneficial to exchanges, just like BNBChain is to Binance and OKChain is to OKX (then known as OKEX), so FTX has every reason to strongly support sol.
(2) Builders have a keener sense than traders and can perceive the development of public chains first. Every entrepreneurial builder is risking everything to enter the field, and a slight misstep could lead to total failure, so they will strive to choose the best public chain. The hackathons for sol, whether formal or informal, are of the highest quality among many public chains.
At this point, oct's operations had not yet made him stand out. Anyone who has experienced buy and hold knows that the real difficulty is not the buying process, but maintaining a position that is increasingly devalued during the long hodl. Oct also faced this choice: after buying sol with all his funds at the beginning of 2021, sol continued to decline, repeatedly falling below $1. Reflecting on this experience, oct admitted that the significant drawdown severely affected his work and life, leading to a long struggle against the impulse to "cut losses." Ultimately, fate favored oct, as sol soared after a long period of consolidation, skyrocketing from the buying point of $3 to over $200, at which point oct chose to gradually take profits. After this battle, his assets grew to the tens of millions.
Although today, with oct's success, this all-in trading method, which involves an element of luck, may not impress every person with a similar experience, especially those diamond hands who believe "going all in is wisdom" but endure significant drawdowns. However, it is undeniable that looking back through the rearview mirror, oct always manages to penetrate the fog, steadily moving forward in dangerous yet perfectly timed rapids...
(Continued)
[To be continued] Source: 0xbeyondlee.eth
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