Tsinghua University is the 'dream school' for countless students, but its admission cut-off score each year deters many candidates. Yet, a man named Guo Hongcai, who scored only 300 points in the college entrance exam, still appeared in Tsinghua's classrooms.
However, he was not a legitimate student at Tsinghua; he merely relied on his 'thick skin' to audit classes there. Unexpectedly, studying broadened his horizons, and he eventually transformed into 'Master Bao Er.'
The Rise of 'Losers' in the Crypto World
Guo Hongcai's youth had nothing to do with the term 'academic excellence.' Skipping classes and not doing homework were his daily routines. He considered himself the future 'Tsinghua talent' but wasted his time in internet cafes.
Although scoring only 300 points in the college entrance exam shattered his Tsinghua dream, he refused to give up. He resolutely chose to drift north, and even though he felt lost and confused, he was determined not to abandon his dream of 'turning the tables.'
After arriving in Beijing, he chose to audit classes at his dream university, Tsinghua University. To make a living, he attended classes during the day and sold pirated discs on the streets at night.
Although this life was filled with hardships, it tempered his will, intensifying his desire for money.
Later, unable to endure the pressures of life, Guo Hongcai embarked on a cycling journey to Tibet. On the road, he met Jin Yangyang, the woman who would change his destiny.
Jin Yangyang was a female college student from Sichuan. She was attracted by Guo Hongcai's 'never-give-up' spirit, and the two quickly fell in love and got married.
Later, in an era before e-commerce became widespread, the couple decided to start a business. They opened an online store selling Pingyao beef from their hometown.
The couple, Guo Hongcai and his wife, became the first to taste success, earning their first pot of gold in life. However, good times didn’t last long; with increasing competition in the e-commerce industry, their online store eventually went bankrupt.
Disheartened, Guo Hongcai heard about 'Bitcoin' from a friend at a drinking party. Initially, he was skeptical about Bitcoin, believing that virtual currency could not lead to overnight wealth.
However, as friends around him continued to make a fortune from Bitcoin, he began to waver. Relying on some knowledge he had learned from auditing classes at Tsinghua University, he quickly immersed himself in the Bitcoin market.
Meanwhile, his wife Jin Yangyang also launched a Bitcoin interview show (Yangyang Interviews). The couple took on different roles, one focusing on knowledge output and the other on content presentation, quickly gaining fame in the crypto world and becoming known as “experts.”
In 2014, Guo Hongcai established the largest Bitcoin mining farm in the world at that time. He leaped from being a 'loser' selling beef to becoming 'Master Bao Er' in the crypto world, achieving a class leap.
The 'Leek Harvesting' Carnival
After becoming 'Master Bao Er,' Guo Hongcai's ambitions began to swell. He saw the enormous 'money landscape' in the crypto world and decided to personally engage in 'leek harvesting.'
In earlier years, a large number of air coin projects emerged in China. These projects often had no actual value yet attracted investors with promises of high returns.
Guo Hongcai utilized his fame and influence to support these air coin projects, earning huge commissions. Reports suggest that he made about 1 billion RMB just from endorsements.
In 2017, Chinese regulatory authorities halted the issuance of virtual currencies, and the scams of air coins were gradually exposed. However, Guo Hongcai did not stop; he launched a project called 'Ku Shen Wallet,' claiming that by purchasing this hardware wallet, one could receive tenfold returns in six months.
This project attracted a large number of investors, raising over 100 million yuan in just a few days. However, six months later, investors realized they had not received the promised returns and instead lost their principal. Guo Hongcai's scam was exposed, and he quickly fled to the United States, leaving chaos behind.
In the United States, Guo Hongcai did not hold back; instead, he became even more reckless. He spent a fortune buying luxury homes, naming one “Leek Manor,” and planted leeks in the manor to mock the investors he had 'harvested.'
Not only that, but he also spent a fortune buying a luxury car for his wife, reportedly the only one in the entire United States. He frequently showcased his lavish lifestyle, not just to flaunt wealth but to attract more people to enter the Bitcoin market.
He was even arrogant enough to claim that after Musk acquired Twitter, he would become the CEO of Twitter. When this post was published, both domestic and international netizens were shocked.
The result was that Musk himself personally refuted the matter, stating that the post by Guo Hongcai was fabricated, and the Twitter CEO would be succeeded by a female.
He transformed from a college entrance exam failure and a bootleg CD vendor into a billionaire 'crypto tycoon,' which undoubtedly resonated with many people's desire for overnight wealth.
However, Guo Hongcai's success did not stem from genuine technological innovation or business models but was built on speculation and hype. He deeply understood human weaknesses and exploited the public’s desire for wealth, weaving one 'wealth myth' after another.
The scam of 'air coins' exploited information asymmetry and regulatory gaps, using high returns as bait to lure investors. These 'air coins' often had no real value, and their prices were entirely determined by speculation and market sentiment.
Once the market fluctuated, investors faced huge losses. The Bitcoin and other virtual currencies he promoted inherently carried significant risks and bubbles.
The scam of 'Ku Shen Wallet' was even more deceptive. Guo Hongcai utilized his identity as a 'crypto tycoon' and the seemingly professional name 'Ku Shen' to endorse the project, convincing many investors to believe it was genuine.
However, this so-called 'hardware wallet' was merely a common electronic device and could not deliver the promised 'tenfold returns.'
Guo Hongcai's 'leek harvesting' methods were varied and numerous. Through various hype tactics, speculative actions, and false advertising, he gradually lured investors into a deep abyss, making it hard for them to escape.
His success was built on the hard-earned money of countless investors. Although he accumulated enormous wealth, he lost the hearts of the people and was ultimately abandoned by the times. Once known as 'Master Bao Er,' he has now become a rat that everyone wants to hit.
In this market filled with speculation and hype, the myth of becoming rich overnight was constantly staged, but it was also filled with traps and risks. Many people were deceived by false promises and ultimately lost all their investments.
Investment requires caution; one must keep their eyes wide open and not blindly pursue quick riches. It is essential to rationally consider investment risks and not bet one's future on illusory 'wealth myths.'
