Changpeng Zhao first heard about Bitcoin 10 years ago, and how are the people who entered the market at the same time now?

Written by: Mu Mu

The end of 2013 coincided with the Bitcoin bull market, a full decade ago, when many people, including Changpeng Zhao, first heard of Bitcoin. The history of crypto asset development is very short, only such a 10 years, 2013 can be regarded as a very early stage, so what happened to the people who entered the market early like Changpeng Zhao back then?

I don’t know if I don’t see it, I was shocked when I saw it, it turned out that many people who had a profound impact on the process of the crypto industry entered the market that year, and the gears of some people’s fate began to turn…

In 2013, CZ first heard about Bitcoin (from his friend Li Qiyuan);

In 2013, He Yi went from being a host to becoming the CMO of a crypto platform (only later did He bring CZ into the company);

In 2013, Li Lin pulled Du Jun to start a business together;

In 2013, Wu Jihan just started mining, and was later introduced to Zhan Ketuan;

In 2013, Zhan Ketuan created the first mining rig, the Antminer S1;

In 2013, V God completed a white paper;

In 2013, 33-year-old Gavin Wood read Vitalik’s white paper and decided to help the 19-year-old realize his great idea for Ethereum;

In 2013, ADA founder Charles Hoskinson co-founded Innovations with EOS founder BM;

In 2013, Justin Sun joined Ripple Labs after graduating from college;

In 2013, Zhao Dong, Lao Mao, Jiang Zhuoer, Guo Hongcai… (Time has passed, part of the information is compiled from reports in recent years, if there are errors or omissions, please correct) What happened to these people, I think most of you already know.

After listening to the “legendary” stories of many early characters, many people are envious of the early entry opportunities, thinking that the early OG must have “made a lot of money”, but in fact, it may not be, only people who have achieved certain achievements in their respective fields will be widely spread**, for example, the author of the article is also the “old leek” who entered the market in 2013, which is not worth mentioning compared to them, but it has also witnessed the different situations of many entrants in the same period.

2 Industries: IT & Finance

Satoshi Nakamoto named the Bitcoin white paper “Bitcoin: A Peer-to-Peer Electronic Cash System”, and by looking at the name, you know that this is a project that combines IT technology and finance, so people in the IT industry and the financial industry are the first to understand that it is the people in these two industries who took the lead in turning over the Bitcoin white paper 10 years ago. People from the IT Internet software and hardware technology flow often become the founders and mainstays of various important crypto platforms, project parties, and crypto communities. Investment banks and traders from the financial industry are often attracted by the wealth effect brought by new technologies, bringing many ways of playing in the financial field into the crypto field.

2 ways to participate: spot and futures

I read an OG article about the experience of some crypto veterans in the early end time, which is basically the same as what I saw around me. The temptation of contracts is great. Human nature, “ten bets and nine losses” some eternal truths are applicable everywhere, most people who take the contract road have experienced ups and downs, even if they leave the market with profits halfway, most of the follow-up people will still be sent back with profits, and few people can get out of the way.

It’s not easy to really hold the spot, it can be said that the contract is human, and it is anti-human to hold the spot all the time, it can withstand the temptation, and it can’t be interfered with by various FUD news, and it can’t be wrong, as for those who have been holding Bitcoin, the wind is sharp and cornered, and what happened to them later, it must not be needless to say, right?

Multiple Engagement Mindsets

A person’s mentality is to read and understand the white paper carefully, thinking that this is a disruptive innovation, and people who are truly committed to crypto project innovation and industry construction are represented by CZ and other founders and community members who have contributed to the crypto industry. The reward they get is not only money, but also a sense of accomplishment in achieving their dreams in the crypto industry.

A kind of people’s mentality is to read the white paper, but not necessarily agree with its vision, thinking that it is just a kind of “drumming and passing flowers” (the so-called: the consensus of fools is also the consensus), this kind of people are very smart, at least think they are smart, often seem very rational, can exit in time when emotions are high, and many people have been richly rewarded. But there are also a considerable number of people who are overconfident and aggressive, which leads to a not very good ending, such as the “genius trader” SBF, the founder of Three Arrows Capital, Suzhu, etc.

**There is also a kind of mentality that people have never heard of any white papers, and they are simply pulled (fooled) by friends to speculate, ** the mentality of trying to see a small fight, people with this kind of mentality are full of vigilance about new things, have curiosity but not much, often the bull market comes in at the beginning of a small profit, and then increases investment in high-level quilts and cut meat. After that, he was killed and stopped entering, but after a few years, he “snapped” his thigh…

Summary

To tell the truth, how many of you here have really read and understood the Bitcoin white paper? Very few people can “don’t vote if you don’t understand” and be responsible for every penny of your money. For something new, early contacts may seem like an opportunity, but they also face more uncertainty. Different engagement styles and mindsets influence the direction of the end result.

In the next 10 years, who will the gears of fate begin to turn?