From the pioneer of Bitcoin to the frustrated cryptocurrency circle: Lao Duan's revelation

The market only remembers the successful ones, and no one cares about the wailing of the frustrated ones. 1. Lao Duan: An early evangelist of Bitcoin ​ Lao Duan, whose original name is Duan Hongbin, believes in empirical economics and is good at analyzing economic problems in multiple disciplines. He has a strong interest in the relationship between evolutionary psychology and economics. We firmly believe that value investment is the long-term way to invest. For articles, see Securities Times, 21st Century Business Herald, Daily Economic News, etc. His personal book "The Magic Book of Investing" has become a must-read for many junior investors. ​ He devoted himself to Bitcoin in 2011 and even operated a graphics card mine. However, the clearance decision in April 2013 made him miss the greatest wealth opportunity in his life. ​ In July 2011, Lao Duan wrote the first Bitcoin-related article "What can appreciate 3,000 times in a year" to introduce Bitcoin to the public. At that time, Bitcoin was only a few dozen yuan per person. In April 2013, Bitcoin suddenly soared to 1,000 yuan per person. Laoduan couldn't stand this huge increase and cleared his position. Then I wrote "Bitcoin - Witnessing the Birth of a Giant Bubble". At this time, Lao Duan's performance was quite normal. You can also find comments from netizens who thanked Lao Duan on the Internet. ​​ 2. The behind-the-scenes promoter of Babbitt​ Lao Duan is not only an early disseminator of Bitcoin, but may also be deeply involved in the construction of Babbitt’s website. In the early days, Babbitt filed a record in Lao Duan's personal name. ​ 3. November 2013: The turning point and blackening of Lao Duan​ The story of Lao Duan ushered in a dramatic turn in 2013. He has been mining and hoarding Bitcoin since 2011, but the clearance decision in April 2013 made him miss the subsequent surge. By November, the price of Bitcoin soared again, and the blow to the old terminal was undoubtedly devastating. With an imbalanced mentality, he began to slam Bitcoin and called it a "giant bubble." ​ At that time, the currency circle was in a feverish period, and netizens quarreled with him fiercely under Lao Duan’s Weibo, which further stimulated him. From then on, Lao Duan completely turned black from the veteran of Bitcoin. He turned to speculating on altcoins such as color coins, wrote investment reports, recommended the junk coins he had already hoarded, and then successfully "cut a wave of leeks" and left quietly, thinking that he was sure to win. ​ In 2017, the blockchain boom broke out again, and Bitcoin reached 20,000 yuan, but Lao Duan could only speak out on the edge and scold the hypocrisy of the industry. However, few people in the currency circle at this time remember this former pioneer. ​ ​In 2024, Bitcoin hit $100,000. He only posted one update on Weibo, and he was already in a state of disappearance. ​ ​ ​ ​ 4. Laoduan repeatedly misjudged the market. Some netizens revealed that Laoduan claimed that the bull market was about to end in May 2017, but the market continued to be carnival until the end of the year. In early 2018, he predicted that A-shares would go bullish, but the market plummeted by 30%. Later, he quietly deleted the relevant articles. ​ ​ 5. Lao Duan’s lesson: Don’t throw away your “chips” ​ The biggest lesson Lao Duan has given us is not to throw away the chips. This chip is a currency, and it is also you. Early participants like Lao Duan not only lost the coins in their hands, but also lost the coins in their hearts. If Laoduan also claims to have 6-digit Bitcoin, then the currency circle may be a pattern of two richest people. Nangong comments: Let’s earn money and storm coins honestly, and don’t let future generations laugh at us as we enter the treasure mountain and return empty-handed. Lao Duan obviously went home after picking up two branches in Baoshan. . . Afterwards, I was unwilling to accept it and regretted it, and kept struggling and suffering. But this is the fate of ordinary people.