2 million evaporates in 45 days: A darkest moment and rebirth declaration of encrypted OG

Author: TIGER

After thinking about it for a long time, I decided to record it. This stage of pain, doubting yourself, being upset and losing your hard work. It’s more for record, not for review. Recalling may require more rationality.

First of all, I am not a blogger forever, nor do I have an invincible amount of funds. The loss of 2M is accumulated over the years, and I have been stroking one hair after another, and I have stepped on one hot spot. It is also a relatively large drawdown since I entered the circle.

1. Contracts on Hype

I lost more than 2,000 Ethereum and 100 big cakes in 2018. That painful experience made me secretly resolve myself to not touch contracts in terms of transactions except hedging.

Hyperliquid was very popular at the end of the year. I opened the market and made 10wu. I determined that Hype, as a few innovations in this round, will continue to erode the Cex share, so I decided to hold Hype at a high level of more than 20.

Since Hype itself is a contract platform, it is contrary to the rules that I give myself no contracts, and I want to experience more Hype platform functions, so I decided to use three times the leverage and provide unlimited margin. Finally, 1M margin was released on the contract platform, which also laid the groundwork for the huge losses that followed.

When I signed the "never contract" flag in 2018, I would never have thought that I would tear up my oath in 2025 at Hyperliquid.

A sweet start of 50,000 to 100,000, a crazy decision to make a heavy position of $20, a fatal operation of 1M margin with triple leverage... Behind these numbers is a devil's whisper: "It's really different this time."

2. AI agent

That's right, I missed the surge in AI agents. And took over at a high level.
Actually, there is no heavy position, but as described above, there is 1M in the Hype contract, and I chose to use 20w to chase a little AI agent's leverage position. Compared with Hype's position, I think it's much smaller, but I still underestimate the power of leverage.

Finally, it took over Virtual and AI6Z at a high point. The initial decline actually didn't feel anything big, after all, the market popularity and narrative are all good situations. However, the subsequent encounter with Trump's market sucking blood, and Deepseek's impact on the US stock AI sector, causing AI agents in the entire currency circle to lose their faith. I abandoned the car in the middle and lost more than 80wu in less than 2000 yuan.

When I was chasing the AI ​​agent for 200,000 yuan, I made a mistake that the old man shouldn't have made the most: using leverage as a magnifying glass, but forgetting that it is even more a haha ​​mirror. When Deepseek raided the US stock market, my position collapsed in distortion, and the 800,000 evaporated faster than the negative news.

After 7 years, I fell into a contract again.

3. Meme

I realized the importance of meme this round very early, so I have been building my own weapon tool library, various on-chain monitoring and quick purchases for smart money. The situation did not achieve the expected results in the end, and all efforts seemed very ridiculous.

Let's talk about a few big nodes:

1) Pnut

Pnut's continued attention and heavy positions allowed me to earn up to 1M on him. But it was also starting from Pnut that due to the rapid profit implementation, my operations became more radical and my risk appetite was higher. In the past, the investment share in counterfeits would not be so large.

It can be said that there is a big factor in Pnut's success in this round of such a large total amount retracement.

"1M profit is arsenic coated with sugar, which makes you forget the common sense that altcoins should have light positions"

2) Trump

We make various tools on the chain, monitoring, big V smart money speaking. None of them stopped me from going to bed at 3 am in the European time zone!

With my aggressive investment style at that time, 90% of the monitoring addresses got big results. It should be no problem to make 10m by hitting hundreds of k.

And I, who is in Europe, just became the group of people who watched the market for 20 hours and missed Trump while sleeping. With my investment style at that time and a lot of homemade monitoring programs, I can really say that I missed my life opportunity.

The next day, in addition to getting upset, I happened to meet one of the most important moments in real life, the delivery room welcomed the child.

It was raining all night long. When I was busy at the delivery room, I saw Trump's wife sending coins in the toilet, causing a trump crash. Since the inauguration ceremony had not arrived yet, the trump crash was 40% made me think it was an entry. At the time of the market, I immediately sold a lot of copycats, and then bought 40wu around 50.

Then welcoming the newborn, and at the same time, there was 2-3 days when I didn’t have much time to think and operate my AI agent tokens with leverage and Trump tokens that were taken over at a high level.

Lots of great losses.

When a child cries and hits Trump tokens for 40%, it is the first time that he understands what it means to "being killed by fate" in his life.

3) Argentina President

The major drawdown after Trump has made me upset. From missing 100 million in theory to making a frantically lose money, I made me determined to admit my losses and leave. Make plans when you calm down and make good plans.

However, it was such a coincidence that the Argentine president issued coins and I saw it as soon as possible.

This time I was awake and entered after opening 10 minutes. This time is my life moment, I told myself.

There was not enough in the wallet, so it took 10 minutes to withdraw coins from CEX. After several increases, I got into 20wu, with an average price of 3 yuan.

After buying it, I also called my good brothers from the European time zone, the United States time zone and the Chinese time zone respectively. (clown)

While browsing the message, he confirmed the authenticity of issuing coins. Although I think Trump's price is only 20b left and there will be no excess returns here, I am still obsessed with the "early" entry this time.

Soon the profit reached 50%. I pressed my hand on the button to sell 75%. I thought about making a profit, but found that the transaction tax of 10%. After I confirmed it repeatedly, the price had already begun to decline.

There are too few opportunities for selling windows left for us. When it fell to 2 yuan, I saw the news of the dev selling with one side. But I hate losses and think that as long as the president issues coins, it is not a false event, there will always be a rebound, and there will be a small loss if the rebound occurs.

Everyone knows the subsequent decline and the rug incident, and I lost 80% in the end. I was tired and covered myself with a quilt to sleep at 5 a.m., and I would die suddenly if I didn’t sleep.

The $200,000 bet on the Argentine presidential token became the most expensive alarm clock - it taught me that the five-am sun never illuminates the endgame of the rug pull

Written at the end

"All 'wealth passwords' are secretly marked with the time zone-and you are always in the wrong one"

No matter how much you prepare, you need a "life" to make a fortune.

This is not a review, it is just a record of a broken me.

Encourage myself to make correct decisions many times, have made web2 products with millions of daily active users, and have accumulated a matrix of tens of millions of fans from scratch. I have experienced major drawdowns several times, but I have stood up.

This time, I believe I can do it too. Tougher wings can grow in the ruins.

Unfamiliar friends, if you can, leave a message to cheer me up and help you accumulate character. Our opportunity has not arrived yet, but it is on the way.