The story of FriedCat (Jiang Xinyu) is full of legends and mysteries in the cryptocurrency circle.

1. The genius boy first entered the cryptocurrency circle

Jiang Xinyu was admitted to the junior class of USTC at the age of 15, showing extraordinary intellectual talent. At the age of 25, he came into contact with Bitcoin during his visiting scholar period at Yale, and was deeply attracted by this emerging digital currency and the blockchain technology behind it. At that time, Bitcoin was still in its early stages of development, but Friedcat keenly perceived the huge potential it contained. So he resolutely gave up his plan to study for a doctorate and devoted himself to the cryptocurrency circle.

In 2012, FriedCat decided to start a mining machine research and development plan. However, he was facing a shortage of funds at the time. In order to solve this problem, he chose to raise funds through crowdfunding. He posted his plan on the Bitcoin forum, and with his talent and enthusiasm, he quickly attracted the attention of a group of investors. These investors believed in FriedCat's ability and invested in supporting his mining machine research and development project.

2. Glorious Period

FriedCat's efforts and innovative spirit were richly rewarded. He successfully developed a high-performance mining machine and occupied a place in the field of Bitcoin mining. As the price of Bitcoin continued to rise, the benefits of mining were also getting higher and higher. FriedCat made a lot of money in a short period of time and was said to have thousands or tens of thousands of Bitcoins. He became a legend in the cryptocurrency circle and attracted much attention.

During this period, FriedCat's influence continued to expand. His success attracted more people to join the Bitcoin mining industry, promoting the development of the entire industry. He also actively participated in exchanges and discussions in the cryptocurrency circle, shared his experience and insights, and contributed to the development of the cryptocurrency circle.

3. Dilemma and Decline

However, the good times did not last long. Later, problems occurred in the upgrade process of Friedcat's mining machine. The new mining machine had unstable performance and high failure rate, resulting in low mining efficiency. This made Friedcat's mining machine lose its competitiveness in the market and became unsalable. At the same time, due to poor cooperation, Friedcat also faced huge liquidated damages. It is said that he paid a liquidated damages of up to 80 million, which dealt a heavy blow to his financial situation.

Faced with these difficulties, FriedCat tried hard to find a solution, but failed to reverse the situation. In 2014, after getting married, FriedCat suddenly lost contact. His disappearance caused an uproar in the cryptocurrency circle and left many mysteries. Some people speculated that he might have chosen to retire due to excessive pressure, while others suspected that he had met with an accident. But to this day, FriedCat's whereabouts remain a mystery.

The rise and fall story of FC is a microcosm of the development of the cryptocurrency industry. It shows the opportunities and challenges of the cryptocurrency industry, and also reminds people to be cautious and rational in the process of investment and entrepreneurship.