Hello, this is Colson. I have been on Binance Square for a while. In the future, I will share more about on-chain interaction, investment research and analysis ideas, as well as some personal views on the future trends of web3! I will update based on my personal experience, my personal views on the future development trends of web3, and on-chain interaction strategies. You can first look at my Twitter signature to get a general idea about me.



Personal experience

I first got to know the web3 industry in 2016

The first time I knew about BTC was when my father heard from relatives that the MMM financial mutual aid platform made money quickly and safely, and needed to use BTC as a transmission medium to complete tasks, similar to passing the parcel, passing BTC to the next person assigned by the platform to obtain the income allocated by the platform. At that time, BTC was only about 450u. Later, I began to learn about BTC through Wikipedia, which opened the door to enter web3.

After entering web3, I believe everyone will start downloading exchanges and researching which coins will make money and trade them as stocks. I also went through this path at that time. The first coin I bought was of course BTC, but I was young and ignorant at that time. I bought my first BTC in an unreliable exchange with my New Year's money. The average price was 530u. Then I thought about withdrawing it from the exchange and storing it in my own BTC wallet, but I found that the exchange could not withdraw coins at all.

After paying the first tuition fee, I started to study how to buy BTC without going through an exchange. At that time, I found a double-collateral guarantee platform. The intermediary charged a handling fee to transfer the money to the platform, and then the other party loaned the BTC to the wallet. I thought this was safer. Later, because I was afraid of the first security problem, I was timid and bought 0.4 BTC and stored it in the BTC wallet.

In the following period of time, I began to study the infrastructure of web3, to understand what decentralization is and what decentralized exchanges are. Speaking of decentralized exchanges, the emergence of uniswap refreshed my eyes. Wow, there is such a convenient thing that can directly use coins to trade other currencies, and there is no need for KYC, which saves a lot of trouble. Later, I learned about liquidity pools and what AMM is, and embarked on a new journey.

Before Uniswap, I bought some ETH in early 2017 and started to study what ETH is and what application scenarios it will have in the future. I found that ETH is much cheaper than BTC, only 13U per coin, so I exchanged some BTC for 28.8 ETH (V God brainwashed me well)

Uniswap Governance Token

At that time, I often used uni to form a liquidity pool, thinking that I could earn some interest and store coins. I didn’t expect that unprecedented wealth would come. At that time, when uni said airdrops, I didn’t realize the odds of making money in this aspect!

Now I think it would have been better to start interactive farming earlier. According to the highest uni point, the order number was given 400 uni at that time, which is close to 18,000u. Although I didn’t get the highest point, I was a scumbag and couldn’t get the highest point. I sold them all after getting 17u, and cleared the warehouse around 23u! Regret, regret, there are always regrets in life. Selling for a permanent profit is still applicable now, but BTC must be seized.

Little Miner

As time went by, I also jumped from a little kid into college life. My college life was ordinary and boring. Most of the schools and majors I studied were for the average class. Naturally, I didn't meet many girls during this period, but one benefit was that I had more energy to study web3. (Just making excuses for myself)

By chance, I saw someone in a web3 forum saying that mining is a good way to make money. It is not a dream to earn 200-300 yuan a day by mining with a graphics card. I thought that instead of working part-time in the school cafeteria for only 100 yuan a week (three meals included), it would be better to earn 200 yuan a day by mining. Under this temptation, I had to start learning what mining is and how to mine. So after half a month of research and budget planning, my first 6-card mining machine was born!

The university is very close to my home, so I signed up for day study. Otherwise, I am afraid that I can’t carry this small mining machine with me in the dormitory. It will be terrible if I get caught by the dormitory management. Of course, there will be mining crackdowns in the future. If things go wrong, I will be punished.

At that time, the computing power and electricity costs were between 175-190 per day based on the currency price at that time. After mining, I basically withdrew the currency every day and exchanged it for RMB to subsidize living expenses.
(My brain, if I can hoard BTC, why can’t I hoard ETH?) I didn’t think too much at the time. My dad was still asking me if I paid for the electricity bill if I didn’t turn off my computer every day!
I then gave him 100 bucks a week and asked him not to pay for living expenses (I suffered a lot afterwards)

In the following days, ETH continued to rise. I watched it rise to 1000u. My heart was so tight that I sold all the ETH I had hoarded. . In exchange for 2.8wu

After I sold it, the price went up to 1400u. I didn’t sleep well for two nights, but the good times didn’t last long. Just when I was worried, I didn’t expect that the country started a crypto rectification campaign. It was so ruthless. The red-headed documents and joint statements scared the retail investors to flee everywhere. When the price fell from 1400u to 730u, I didn’t believe it. I bought 1wu of eth halfway up the mountain. Damn it, this is really the worst decision I have ever made, no doubt about it.

Then, as we all know, the price of 700u fell to more than 80u. Do you know how I felt at that time? I can use a picture to express my feelings.

For a long time, the mining income was meager, even not enough to cover the electricity bill, so I temporarily stopped the small mining machine and continued to wait for the opportunity.

meme track

As the mining disaster struck, official documents were approved, and retail investors panicked. I was almost persuaded to quit, and was forced by a netizen to play meme, local dogs and circle. This was also an experience of crossing classes in my early days!

The meme track is a place where people are killed without leaving any bones. Some are happy and some are sad. In the early days, insider robots and project parties colluded to harvest many people with hundreds or thousands of U. Of course, a small number of people could become rich overnight and become famous overnight. How much tuition do you need to become one of those few people? I don’t know. Everything is unknown. In this bloody circle, I admit that I am lucky. I have no skills at all. The first meme coin I bought was Shib. At that time, this netizen told me that you can go to Uniswap to buy a token called Shiba Inu. The contract address is so and so. It depends on my ability to buy. I believed him and bought 20U, a total of more than 18 billion. At that time, none of the major centralized exchanges of Matcha Exchange listed Shib, so I bought it with the mentality of testing the water. . A week after I bought it, it fell by half. . .

I thought you were here to scam me, so I contacted him on WeChat, but he ignored me and there was a red exclamation mark behind his name. . . At that time, I didn’t understand the bloody nature of memes.

What I want to thank the most is my mentality of giving up struggling (only applicable to meme zero). I thought it had already fallen by half, so it shouldn’t fall any further, so I just left it alone. Who knew that this thing never rose all the way and almost returned to zero. After learning this lesson, I put on tinted glasses for all group friends web3 and netizens, and I was very cautious in making friends with web3. . .

Just when I was at my wit's end, the news that Matcha was about to be launched on shib bombarded all the meme groups. I wondered who started this new platform, and wasn't there a shib that had already been reset to zero?
Hopefully, I found the mnemonic on the lower right corner of page 88 of my electric traction textbook, and imported it into my wallet. I couldn’t believe my eyes. How come my 20u coin, which was almost zero, showed a balance of more than 60,000 US dollars?
I quickly recharged my coins to Matcha and sold half of them as soon as the market opened.

After selling half of them, I started to learn about what shib is, what shib ecosystem is, what dex and gameplay it has, but unfortunately the netizen who pushed me at that time had blocked me, and I didn’t even know where to send the red envelopes... Later I thought about it and decided not to do it. In order not to feel bad, I donated some money to the Alipay Red Cross.

Follow-up: When Matcha first hit 0.000009, only 1 billion shib were left to sell 💎

hand

After that, I also participated in a series of local dogs such as htmoon, pig, Akita dog, etc., and paid a lot of tuition fees. htmoon was relatively lucky to get out earlier and made more than 4,000u. Pig’s record should be said to be 15u, which became more than 300u after a casual play, and Akita dog also made a small profit and ran away. After all, it is a blessing in disguise to be able to make money in Matcha, an exchange that eats people without leaving bones. . .

Later, I was obsessed with playing Panquan. I wonder if you have heard of Pangu Community. Yes, it is the one with many old men and women who talk about jointly operating the banker every day and promoting the project offline. It really shows the human nature to the fullest!

So far, I have been in the heyday of web3. What is going to happen next is a huge reversal, so I will keep it a secret for you! See you next time.

Preview: How a 19-year-old guy with a million-dollar asset at the time was involved in a certain leek exchange and was killed, which led to bankruptcy and he joined a cat-stroking studio as a slave, helping the studio owner to win a million-level airdrop.