Exclusive Interview with “1800 Bitcoin” Rights Defenders: The Current Situation of the Bitcoin Ecosystem

Author: Rhythm BlockBeats

As the cryptocurrency with the strongest consensus, Bitcoin’s ecology was born within a year. Technological exploration in different directions and the influx of capital’s hot money promoted a short-term prosperity, but also exposed the complex interest game and potential problems behind it. Behind the scenes lies a complex game of interests between rule makers and participants. Last week, the Bitcoin staking protocol Solv Protocol fell into a storm of public opinion due to public accusations from AZ, a major pledger, and Nubit, a DA project that is also part of the Bitcoin ecosystem. Controversial topics such as guaranteed agreements and repeated staking quickly became the focus of the community.

To this end, BlockBeats held a dialogue with AZ. She not only shared her operating logic since joining the circle, but also directly responded to the public opinion and rumors surrounding Solv for the first time, including controversial topics such as guarantee agreements and repeated staking. This article provides us with a unique perspective to observe the operations of large players in the currency circle and the ecological operation of projects, as well as some "dirty tricks" in the Bitcoin ecosystem, such as agreement transactions between project parties and large players and gray operations in liquidity management. In this game called consensus, the big investors who hold the chips compete with the project parties who set the rules, while ordinary investors are often forced to become bystanders who cannot influence the outcome.

The following is the entire interview, edited for ease of reading:

BlockBeats: Share your experience in currency speculation

AZ : Let me first answer one of the very, very amazing rumors. It was said that I work in a Singapore club, helping many big guys manage Bitcoin, and doing white-glove work to earn them profits. If I really manage money for many big bosses, how could I be allowed to speak out in such a high-profile manner online? Either he had helped me resolve it through various relationships a long time ago, or he had shut me down a long time ago. It is impossible for me to be so playful on the Internet, right?

BlockBeats: When did you get into the industry? Can you briefly share your experience in currency speculation?

AZ : I bought my first Bitcoin in 2017. I really never speculated. I used U to buy some stupid and popular memes. But I would never exchange Bitcoin for other coins. I would just use it. Not moving.

BlockBeats: Why did you buy Bitcoin in 2017?

AZ : It all started in 2015, when I caught up with the first wave of social e-commerce dividends. At that time, the cost of traffic was very low, almost free, and I also made some money, but this matter ended in 2019. During that time, I often went to Europe to learn craft fabrics, but because of the limited RMB foreign exchange quota, capital flow has always been a headache for me. In 2017, a friend of a friend gave me a Bitcoin. I remember his surname was Fan. We were in Shanghai at that time. After receiving the Bitcoin, I accidentally discovered that it was very convenient to use it to withdraw funds. Because of this, I read the Bitcoin white paper carefully and invested most of my profits in it, leaving this part untouched. I really want to thank Satoshi Nakamoto for letting me buy it.

Source: AZ social account

BlockBeats: So now you mainly get passive income from Bitcoin, right?

AZ : I also invest in some projects, but I am generally cautious, but I am actually involved in many projects.

BlockBeats: In a personal capacity?

AZ : I have a fund, and I invest money from the fund. There is a team to help me take care of it, but it is not very active and has no PR. Then I not only invest in projects, but also in LPs of some funds.

"Guarantee agreements are very common"

BlockBeats: As a major BTC investor, can you talk about your Bitcoin income management strategy before the emergence of the Bitcoin ecosystem and after the Bitcoin ecosystem became popular.

AZ : I'm a very stupid person. I don't have much financial management. I only keep my Bitcoins in cold wallets and never put them in strange places to make profits. I have always been very "unsophisticated" and inactive, and I don't take the initiative to look for investment opportunities. I would not deliberately look for projects to lend money to earn profits, as the risk is very high.

In addition to Solv, which is also running some quantification, Babylon actually also has staking, and I have talked with them. Then there are various project agreements, all of which involve participation.

BlockBeats: What do you think of the Bitcoin ecosystem?

AZ : I have always believed in one thing: Bitcoin’s liquidity will be completely released. This kind of release is not just an increase in price, but a substantive application, such as pledging Bitcoin for lending while ensuring the safety of the principal, or participating in various benefits on the chain. This market is very, very huge, and it is also a Problems to be solved.

In this process, we will see many projects emerge. I can’t directly tell you which project is good and which is not good, because at present, no solution has truly become an industry standard. What I can say is that I am very much looking forward to this happening, but I also think that the current plans are not perfect enough. In the future, more mature and perfect solutions will surely appear to push this market further.

BlockBeats: What are the ways to play in the Bitcoin ecosystem?

AZ : I think my gameplay is definitely different from others. Those really powerful big players play very smoothly. They sign the agreement, lock in the conditions, and directly split the coins after listing the currency. And I did not engage in these operations, I just simply participated and did not use these so-called rules to increase profits. This is the biggest difference between me and others.

BlockBeats: Is this set of gameplay a conspiracy between the project side and the big investors?

AZ : I do know that some people will sign the agreement, but it is impossible for me to send the agreement directly, and they did not sign it with me. Many smart big investors engage in this kind of deal. After all, it is not transparent where the project currency goes. After all, there are so many retail investors waiting to take over Binance. But I can say with absolute certainty that I have never been involved in such an operation myself.

If I really signed the agreement and got the money, I wouldn't bother here. Precisely because I have not participated in these matters and believe that the project party will distribute fairly, I found that the proportion was seriously wrong and started to question where the remaining coins of the project party went, so I am standing here, hoping to make things clear.

From a good friend to a rights activist, AZ sees the founder of Solv

BlockBeats: How did you get involved with the Solv Protocol project?

AZ : I have known the founder of Solv for a long time. I have known him since I first came to Singapore in 2022. At the beginning, a friend here organized a disco event, and then everyone often got together to play.

In March last year, we attended a conference in Dubai, and Merlin's project team was also there. They are among the first teams to delve deeply into the BTC ecosystem and know very well how to play in this field. And Solv used to do GMX. During that time, we discussed the transformation of Solv together. The core was considering whether Solv would enter the BTC ecosystem next. If they decide to transition, we are all willing to support them and push them to do it.

I was deeply impressed. At that time, Solv's official account posted many posts to thank the Merlin team for their support. Solv was able to successfully transform the BTC ecosystem and step by step to be listed on Binance today. This is inseparable from our support at that time.

As for your question about why I came into contact with the Solv project, I have actually known them since they were not Solv BTC. We are the ones who discuss and plan this direction together. Therefore, I think Solv’s current success in the BTCFi field has also been contributed to by me.

BlockBeats: Have you ever signed a profit guarantee agreement for large investors?

AZ : The thing is, there was no agreement signed between him and me. Because at the beginning, we promoted this matter together, and our relationship was more like partners than customers. Therefore, naturally there is no guarantee agreement. The verbal agreement between us is very simple. We all do this thing together, and if we make money, we will share it together. Doing things well is the most important thing. Now it seems that we have been completely fooled, and there is no separation at all.

But later he did sign guarantee agreements with many large investors, so he had to dilute the interests of us early participants. After all, at first we only verbally promised to work together and share the profits, and those who participated later appeared more as customers. As a project owner, in order to pitch these customers' money, he must come up with more attractive conditions, such as a guarantee agreement.

BlockBeats: Does this also happen with other projects?

AZ : I had never done anything like this before Solv, but after Solv, if someone came to me today asking for financial support, I would be much more wary. It is not just a matter of the guarantee agreement, but more importantly, a very comprehensive review of the character, integrity, and background of the entire project party.

BlockBeats: This is really necessary.

AZ : We often play together, including going to Dubai and South Korea. We eat and dance together and fly back together. I trusted him very much before and I thought we were good friends.

BlockBeats: Since you decided to participate in this project in March last year, what requirements or specific details did the project side have for large investors throughout the entire process?

AZ : From the first day to now, I can clearly say that all requirements and rules were set by the project side, and I followed their requirements completely. These contents can be clearly checked on their tweets and official website. As for some people questioning whether my source of funds is clean, or saying that I engage in fake TVL, I can only say that all my operations are in accordance with the rules and requirements of the project party, and every account is clear and completely upheld. Start checking.

The project party’s main requirement for me is actually very simple, which is for me to lock up the liquidity of Bitcoin and provide it to them. Initially, they told me it was a three-month project and only required three months of locked-up Bitcoin liquidity. At that time, I knew that the bull market was coming soon, and my money was originally planned to be put into Binance for fixed income, but they strongly demanded that I lock it up for them for three months first. I also provided Bitcoin to them according to their request. As a result, three months later, they kept delaying and failed to fulfill their original promise. This repeated delay not only violated the initial trust, but also made me very disappointed with the way they operate.

BlockBeats: During the staking period, how often did you communicate with the Solv team and what topics did you mainly discuss?

AZ : When I first started staking, Ryan Zhou was very enthusiastic towards me. He would contact me to explain the project situation and let me know the progress. After about two or three months of staking, I originally wanted to be listed on Binance, but I haven’t been able to. During that time, he often invited me to dinner and hang out with me, and he would always call me every time he invited a big client to dinner. On my birthday, he also came to my house to eat longevity noodles and gave me a YSL bag as a birthday gift.

Source: AZ social account

Our relationship was really good before he promised guaranteed profits to other large investors. I even think he is my best male friend in Singapore and someone I trust very much. I will tell him everything, including when I invest in some projects, I will first ask his opinion and listen to his thoughts. Then Babylon came online and I heard that he started signing guaranteed income agreements for others. In order to satisfy these agreements, he naturally had to dilute some of my interests.

BlockBeats: When is this node approximately?

AZ : Around October, I guess he knew he was going to be on Binance, or maybe because he made a lot of promises to others, he basically stopped replying to my messages. I didn't know that he wanted to "wash" me out, but for someone who has supported me for so long, including someone with such a good relationship, there must be some reason for him to ignore me, and I felt something was wrong from then on.

BlockBeats: When did you know that he had signed a guarantee agreement with other large investors?

AZ : A little time before the first issue of Babylon is launched.

BlockBeats: Before he contacted other large investors, what was your expected profit?

AZ : I have never felt that I was one of his clients, but we discussed this matter together, and I supported you on the first day, so my expectation must be that no matter how much money you give me, I must at least give you A fair statement from me.

I was number one in the standings for the first four months, and I was pushed out in the last two months. I don’t think I was only 0.5 out of 10,000. I won't ask you to give me a certain number of points. I think you have to respond to my questions head-on no matter what. The income is not important now, and I won't keep any of it anyway.

BlockBeats: You used mBTC to transfer the 1,800 BTC to Solv. What was the situation like participating in Merlin at that time? Some people say that you can get several benefits with one money.

AZ : I did exchange mBTC for it, and it was all safe and compliant. All the money was very innocent. If you say that I am not innocent, you can show evidence that my SOLVBTC is fake. Then the real BTC is stored on Merlin.

Solv was created after Merlin issued the currency. My original plan was to take Merlin directly to Binance for fixed income. If I put it aside for 7 months at an annual rate of 5%, it would still be 4.75 million US dollars. It was precisely because the founder of Solv told me how good their project was. , can have an income much higher than the fixed income, and he only kept it open for seven more months at his request, but now he wants to give me SOLV tokens equivalent to 500,000 US dollars, which is not even a fraction of the fixed income. So there is no such thing as two benefits. Besides, I think it’s normal for the DeFi protocol to eat 5 channels, but I really didn’t get any benefits from eating 2 channels.

BlockBeats: So there is such a thing as double staking, right?

AZ : There is indeed a phenomenon in the market. For example, I gave my BTC to Solv and calculated the points once. Then some projects will ask the TVL to help me calculate an extra point. Everyone is working together. For example, Just give him this address, but I have never done anything like this. I can show them the operation records of every money I have. All BTC are clean. I have never done anything like this. matter.

BlockBeats: Have you communicated with other large investors after knowing your income distribution situation?

AZ : Yes, another big investor who is very supportive of Solv came to me, and he asked me how to calculate the five ten thousandths.

BlockBeats: So how do you evaluate the Solv project?

AZ : Looking at the project, the character of the founding team is really important. For a project like this, I have been working on it for 4 years, and I have been constantly changing directions, and finally it can be launched on Binance. But it is disappointing that he has chosen not to distribute the benefits to those who have supported him from the beginning.

BlockBeats: Why choose to advocate for rights on Twitter?

AZ : I spent nearly two months contacting everyone around me who could find him, his investors, very good friends, and even anyone who had any relationship with him. I talked about everything, hoping he would contact me. But the result was that he never replied, not even a word. In this case, I really have no other option. I had no choice but to go online and make this public.

BlockBeats: So far, have your rights advocacy on social media achieved the results you originally wanted?

AZ : If my initial effect was to get the founder to deal with me, then I really didn’t seem to achieve it, because he still ignored me, and the entire team ignored me. If this perspective is to prevent being defrauded by this kind of project party, then I think it has been achieved because I have issued an AI rights protection agent. There are so many frauds in blockchain projects. Today it is one person, and tomorrow it is another person. Everyone is cheating, so I think it is necessary to be an agent to prevent fraud.

BlockBeats: After a series of events in the past few days, has the other party made any response or change in attitude to your previous needs?

AZ : We had a phone call on January 3, and it seemed like we talked about a lot and nothing at all. He asked me how I wanted to compensate him now and how much I wanted. I told him clearly that I will not take the initiative to ask you for a penny. Because I had doubts about his character, I specially recorded it. If he spat on me outside again, I could play it out at any time.

My original words at that time were this: "I will not take the initiative to ask for a penny from you. I have contributed so much to this project. It is your fault that you are burning bridges at this time. It should be you who proposes a compensation plan, and then It’s up to me to accept it or not.”

Later, one of his investors came to communicate as an intermediary and suggested giving me an extra 1 point of FDV, which would be paid directly from the team's share. The investor asked me if I thought it was reasonable. I thought it was reasonable. After all, my funds have accounted for 10% of your TVL for a long time, and even accounted for dozens of percent at some stages. According to the proportion of airdrops accounting for 9%, giving me 1/9 of FDV is a very normal proportion.

But I also made it clear that I will not take the initiative to ask you for this income. If you really want to give it to me, we can talk about it later. That’s what that conversation was all about. He also promised to call me the next morning, but until now, I have not waited for his call. What's even more outrageous is that he actually spread rumors outside that I asked him for 20 million US dollars.

BlockBeats: What do you think of the current public opinion in the community about your coin issuance?

AZ : First, all the proceeds from staking 1,800 Bitcoins for seven months will be donated to the community. I've been clear about it since the first day I spoke out, but now I don't want to make any profit, which makes me anxious. I just want to spend money to let netizens scold them, unlike the solv team who comes here to do evil.

Besides, I think an AI agent for rights protection is a very necessary existence, especially in an environment like the currency circle where fraudulent projects occur frequently. I think there should be a special rights protection track to provide support to more people who have been deceived. aixbt can only say that the project is good and it is a project-friendly AI, so I will make a retail-friendly AI. I had no intention of taking the profits this time. I had to find a way to give them to the netizens who helped me speak out. That could only be achieved in this way.

I also tell everyone clearly that I do not encourage anyone to buy this coin. Because you only need to complete tasks to get airdrops, there is no need to buy them at all. I will buy it myself. After buying it, you can sell it directly after you get the airdrop, right? No need to take more risks.

And I only have 1% of the coins. At the beginning, I kept 4%, 3% of which have been transferred to ZachXBT, the Twitter account that inspired me to do this, I also publicly @ him, you can Check the transfer address. All records are clear and transparent.