Author: TIGER
After thinking for a long time, I decided to record it. This stage is painful, doubting myself, feeling regretful and disappointed about my efforts. Let’s consider it more as a record rather than a review. A review may require a more rational mindset.
First of all, I declare that I am not a blogger who always makes money, nor do I have an invincible amount of funds. The 2 million loss is accumulated over many years, and each hair is earned and every hot spot is stepped on. It is also one of the biggest drawdowns since entering the circle.
1. Contracts on Hype
In 2018, I once lost more than 2000 Ethereum and 100 Bitcoins in contract trading. That painful experience made me secretly determined not to touch contracts in trading except for hedging.
Hyperliquid at the end of the year is hot. I entered at 5wu and made 10wu, and recognized Hype as one of the few innovations in this round. It will continue to erode Cex’s market share, so I decided to heavily hold Hype at the high position of over 20.
Because Hype itself is a contract platform, which contradicts my rule of not touching contracts, and I want to experience more functions of the Hype platform, so I decided to use infinite margin with three times leverage. In the end, I put 1M margin on the contract platform, which also laid the groundwork for huge future losses.
When I set the ‘never contract’ flag in 2018, I never thought that my 2025 self would tear up the oath at Hyperliquid.
A sweet start from turning 50,000 into 100,000, crazy decision to go heavy with $20, fatal move of putting 1M as margin with 3x leverage… Behind these numbers lies a devil’s whisper: ‘This time it’s really different’.
2. AI agent
Yes, I missed the AI agent’s skyrocket. And I bought in at a high point.
I’m not heavily invested, but as mentioned earlier, I put 1M in the Hype contract, and I chose to chase a leveraged position with 200k in AI agent. Compared to the position in Hype, I think it’s much smaller, but I still underestimated the power of leverage.
Finally, high points pick up Virtual and AI6Z. The initial decline didn’t really feel much, after all, the market heat and narrative are both good. But then came Trump’s market bloodsucking, and Deepseek’s impact on the US stock AI sector, causing the entire coin circle AI agent to lose faith. I abandoned the car halfway and lost over 80wu with less than 20w margin.
When pursuing the AI agent with $200,000, I made a mistake that an old gunner should not make: treating leverage as a magnifying glass, but forgetting that it is also a funhouse mirror. When Deepseek raided the US stock market, my position collapsed in distortion, evaporating $800,000 faster than bearish news spread.
After 7 years, I stumbled on the contract again.
3. Meme
I realized the importance of the meme round very early, so I have been building my own arsenal, various on-chain monitoring, and smart money fast purchase. In the end, the situation did not reach the expected results, and all efforts seemed very ridiculous.
Just mention a few major nodes:
1) Pnut
Pnut continued attention and heavy position, let me earn up to 1M on him. But it was also from Pnut that, due to the rapid realization of profits, my operations became more aggressive, with a higher risk preference. In the past, the investment share in the altcoin would not be so large.
It can be said that Pnut’s success has a lot to do with the large total amount of this round’s retracement.
“1M profit is a sugar-coated arsenic, it makes you forget that altcoins should be lightly traded”
2）Trump
All the tools we make on the chain, monitoring, and the smart money opinions of the big Vs. Nothing can stop me from sleeping at 3 o’clock in the morning in the European time zone!
With my aggressive investment style at the time, 90% of the monitored addresses should yield significant results, and there shouldn’t be any problem hitting several hundred thousand to make 10 million.
And I, who was in Europe, happened to be watching the market for 20 hours, and missed the people who missed Trump while sleeping. With my investment style at the time and a bunch of self-made monitoring programs, I can really say that I missed a once-in-a-lifetime opportunity.
The next day, besides being upset about getting up, I happened to encounter one of the most important moments in real life, welcoming the child in the delivery room.
When the roof leaks during a continuous night of rain, and I am busy in the delivery room, I saw Trump’s wife issuing coins, causing a flash crash for Trump. As the inauguration ceremony has not arrived yet, Trump’s 40% flash crash made me think it was the right time to enter the market. I immediately sold a lot of altcoins and then bought 40wu at around 50.
Then welcome the newborn, and at the same time, I didn’t have much time to think and operate my leveraged AI agent token and the Trump token that I bought at a high price for 2-3 days.
Heavy heavy heavy losses.
When the child’s first cry collided with Trump Token, it crashed 40%, and for the first time in life, I understood what ‘being doubly killed by fate’ means.
3) Argentine President
The significant retreat after Trump has already made me feel regretful. From theoretically missing out on a billion, to the crazy losses of the copycat, it has made me determined to admit defeat and leave the market. I will wait until I have calmed down and regained my state of mind before making plans.
However, it just so happened that I saw the incident of the Argentine president issuing coins for the first time.
This time I am awake, and I entered the market after 10 minutes of opening. This is my moment in life, I told myself.
Wallet not enough, spent 10 minutes withdrawing from cex, after several times of adding positions I went in with 20wu, average price 3 yuan.
After buying it, I separately called my good brothers in the European time zone, the American time zone, and the Chinese time zone. (Clown)
While checking messages, I also verified the authenticity of the coin issuance. Although I believe that the price of Trump is only 20b, there will be no excess returns here, but I am still obsessed with this ‘early’ entry.
Profit quickly reached 50%, my hand was on the button to sell 75%, thinking of breaking even, but found a 10% transaction tax, after confirming multiple times, the price has started to decline.
There are too few selling opportunities left for us. When it dropped to $2, I saw the news of dev unilateral pool selling. But as someone who abhors losses, I believe that as long as the president issues coins, if it’s not a false event, there will be a rebound after all, and selling after the rebound will result in less loss.
Following the subsequent drop and rug incident, everyone knows that, in the end, I lost 80%. Exhausted, I covered myself with a blanket and went to sleep at 5 am. If I don’t sleep soon, I’ll drop dead.
The $200,000 bet on the Argentine President’s token became the most expensive alarm clock—it taught me that the 5 a.m. sun never shines on the aftermath of a rug pull.
At the end
“All ‘wealth passwords’ are secretly marked with time zones - and you are always in the wrong one”
No matter how much you prepare, making a fortune requires a bit of “luck”.
This is not a replay, just recording a broken-hearted me.
Encourage yourself. I have successfully made many correct decisions, developed web2 products with millions of daily active users, and accumulated tens of millions of fans from scratch. I have experienced significant setbacks several times, but I have always stood up.
This time, I believe I can too. Tougher wings can grow in the ruins.
Dear friends, if possible, leave a message to cheer me up, and also help you accumulate good karma. Our opportunity has not arrived yet, but it is on the way.
Source: TIGER
