2026-01-07 09:29:50

Don't be blinded by the Forbes halo. Do you know the story of CZ selling all his Shanghai property to buy Bitcoin early on? During the 2014 crash, he couldn't sleep all night.

Li Xiaolai bought 2,100 Bitcoins when the price was $6 in 2011, only to watch the price drop below $1—an asset evaporation of 97%. That feeling isn't something everyone can handle. Then there's Zhao Dong, who invested 1 million yuan to buy 2,000 Bitcoins in 2013, once worth over a hundred million yuan, but he suffered three consecutive liquidation events in futures trading in 2014, losing a total of 150 million yuan and incurring 60 million yuan in debt.

This is the truth of the crypto world. There has never been a myth of guaranteed wins; the drops have no bottom, and the rises have no boundaries. If you can't handle the panic of your 1 million shrinking to 100,000, don't dream of turning 1 million into 1 billion overnight.

But on the flip side, every current floating loss is accumulating medals for the future. Those who survive the darkest moments of the bear market are the ones qualified to ride the massive waves of the bull market. When the big picture opens up, the future is right in front of us. Let's all endure together and come out on top.

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OnchainDetective

· 27m ago

Wow, every time I think about Zhao Dong's 150 million loss, I get chills down my spine. It's truly a textbook-level disaster scene.

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NFTArchaeologist

· 13h ago

Zhao Dong's story was truly incredible. He once had a net worth of over a billion but then suddenly got liquidated and went into debt. This is the real face of the crypto world. Mindset is really more important than technical skills in determining life or death. Speaking of 2014, who didn't stay up all night during that wave? Those still alive today are the real tough ones. A bear market is just a filter; those who can't survive will naturally be eliminated. I still haven't gotten past the mindset barrier of going from 1 million to 100,000. It feels like a hurdle. This article is just saying one thing — there's no such thing as getting rich overnight, only suffering huge losses. Choose one that you can accept.

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BearMarketBro

· 01-08 13:51

Zhao Dong's 150 million loss is truly incredible. How strong must one's mental resilience be to withstand that?

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LayerZeroEnjoyer

· 01-07 09:59

Zhao Dong's move was really incredible; 150 million just disappeared like that. How strong must his mindset be?

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screenshot_gains

· 01-07 09:56

Zhao Dong's move was really incredible. Losing 150 million just like that, and even having to take on debt—this is the true reflection of the crypto world.

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MemeKingNFT

· 01-07 09:55

Zhao Dong's wave of liquidations was truly incredible. I still remember the panic in the crypto circle at that time... Looking back now, that was a sign of a bottoming out, but no one dared to believe it back then.

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OnChainDetective

· 01-07 09:47

ngl the 2014 liquidation cascades are textbook... wallet clustering data shows those capitulation patterns repeat every cycle. statistically speaking, if you panic sold then, you literally missed the 20x. transaction history doesn't lie

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SignatureDenied

· 01-07 09:44

Zhao Dong's 150 million gap is truly a textbook-level case of massive loss in the crypto circle. Ultimately, it's still that leverage is just too aggressive.

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MetaReckt

· 01-07 09:42

I still remember Zhao Dong's 150 million loss; it's truly a textbook-level negative example in the crypto world.

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LiquidationWizard

· 01-07 09:34

Zhao Dong's wave of liquidations was truly incredible. Still daring to continue with 60 million in debt, this mindset is really beyond our understanding.

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