btcdage on Nostr: [Bitcoin's Era Witness: @囤饼达 Da Ge's Exploration and Enlightenment] By HodlGpt ...
[Bitcoin's Era Witness: @囤饼达 Da Ge's Exploration and Enlightenment]
By HodlGpt
2024.11.24
1. Initial Exploration of the World of Bitcoin (2011)
In 2011, Da Ge first came into contact with Bitcoin due to work. At that time, Bitcoin was just a "toy" that only a few technology enthusiasts paid attention to. Out of interest in new technologies, Da Ge downloaded the Bitcoin wallet Bitcoin Core, and ran mining software on his laptop to connect to the mining pool, and used the CPU to mine intermittently for several weeks. Although graphics card mining had become mainstream at the time, he successfully mined 0.1 Bitcoin with the CPU. Because mining interfered with work to a certain extent, and the value of Bitcoin at the time was negligible, Da Ge suspended this attempt. Many years later, he jokingly called this mining experience "a low-cost digital experiment."
2. Regrets in 2013 (2013)
In 2013, Da Ge bought 6 Bitcoins at a cost of less than 1,000 yuan, but due to poor storage, the 6 Bitcoins were eventually lost, which made him very regretful. In 2021, during an accidental sorting, Da Ge unexpectedly found 0.1 Bitcoin obtained from mining in 2011. This "legacy" is now worth about 70,000 yuan.
---------------------------------------------
3. Return to Cryptocurrency (2017)
In early 2017, as the prices of Bitcoin and Ethereum soared, Da Ge's old friend Mr. C mentioned to him that mining Ethereum (ETH) with graphics cards was becoming a hot topic. Although Da Ge's perception of Bitcoin at the time was still that "the value was not stable", ETH's smart contracts and miner ecology attracted his attention. He decided not to take the conventional route, but to develop Chinese mining software for multiple currencies.
4. Deepening Mining Software
Da Ge successively launched mining software that supports multiple POW currencies such as ETH, ETC, ZEC, and XMR, and quickly accumulated a large amount of assets. At this stage, he earned his first pot of gold in his life from mining.
At this time, the ICO craze swept the world, and Da Ge also participated in some projects and obtained short-term floating profits. However, the vast majority of ICO projects eventually became “air coins”, which made him deeply realize that bubbles and risks coexist in the crypto market.
5. The shock of BCH hard fork
The Bitcoin community had a disagreement over the "big block dispute" that year, which gave birth to BCH (Bitcoin Cash). Although he did not directly participate in the dispute, when Coinbase launched BCH, Da Ge felt the shock of the market. He exchanged part of ETH for BTC and an equivalent amount of BCH to ensure the balance of asset layout. Although his interest in BTC has not yet fully awakened, this move has become a foreshadowing of subsequent changes.
---------------------------------------------
6, Technology and Thinking in the Bear Market (2018-2020)
As the market entered the cold winter, the mining ecology gradually cooled down. Da Ge's mining income decreased accordingly, but the advantage of low technical cost allowed him to continue to operate steadily.
7. Reflection on Monero and Centralization
When tracking the frequent algorithm updates of Monero (XMR), Da Ge found that its development team had absolute dominance over the project, and believed that this "algorithm centralization" ran counter to the true concept of decentralization. This observation further prompted him to become interested in Bitcoin's separation of powers mechanism, and gradually realized the uniqueness of Bitcoin as a "decentralized asset".
8. Awakening of the digital RMB test
In 2020, the news of the digital RMB test triggered Da Ge's deep thinking about financial control and freedom. He regards the digital RMB as an "electronic food stamp", and its "controllability" is a threat to individual freedom and a regression of the planned economy. This cognition prompted him to re-examine Bitcoin and begin to study its underlying mechanisms and economic principles. By reading classic books on Austrian economics, he strengthened his understanding of the value of free markets and scarce assets, and gradually converted over-the-counter funds into BTC.
---------------------------------------------
9. The craze and cost of DeFi (2021)
The DeFi summer of 2021 attracted global attention, and Da Ge also invested his ETH in the DeFi ecosystem. At the same time, he cleared assets such as BCH and ETC and concentrated funds on BTC.
10. Arbitrage and Risk
During this period, he tried a combination strategy of CEX lending + DeFi arbitrage, and made profits through funding arbitrage, quarterly contract discount arbitrage and other means. However, risks also followed. A QBT contract vulnerability caused him to lose more than 100,000 U in his deposit in PancakeBunny. This lesson made him deeply realize that the core risk point of DeFi lies in the security of smart contracts, and also made him vigilant about the transparency of CEX platforms.
11. In-depth technology
This year, he developed multiple smart contract applications and began to study Bitcoin brain wallet technology. He wrote a set of advanced brain wallet solutions and had in-depth exchanges with @比特币布道者, and also met @拖拉机. While discussing technology, they also laid the foundation for promoting Bitcoin popularization.
---------------------------------------------
[Establishment of faith and full warehouse BTC (2022-2024)]
12, after ETH switched to POS: "Everything except Bitcoin is a copycat"
When Ethereum switched to POS (proof of stake) in 2022, Da Ge completely lost interest in ETH. He believes that the centralization tendency and fairness issues of POS make ETH no longer comparable to Bitcoin. Since then, he has proposed that "Bitcoin is a choice of values and an anchor of liberalism." Therefore, "everything other than Bitcoin is a copycat." He gradually exchanged ETH and other PoS currencies for BTC in batches, and at the same time created a Bitcoin fixed investment plan. His strategies include pyramid fixed investment and cocktail fixed investment methods, and he promoted the concept and technical knowledge of Bitcoin through many popular science articles.
13. Exploration of Decentralization: Nostr Protocol
In 2023, the Nostr protocol attracted Da Ge's attention due to its decentralized characteristics. He studied the characteristics of this protocol in depth and wrote many articles to promote the importance of decentralization. During the promotion process, he met friends in the circle such as @阿剑 and @ale, and cooperated with them in the dissemination of concepts and technical applications.
14. Da Ge Index and "Smart Way": Quantifying Market Heat
In 2024, he designed the Da Ge Index based on market data to judge market heat by the deviation value of the second quarter contract. In addition, he launched the "Smart Way" historical curve tool to provide Bitcoin exchange rate historical data query services for users in the circle. These tools not only help more people understand the Bitcoin market, but also reflect his vision of promoting the popularization of Bitcoin.
15. Weibo Changes: From "btc达哥" to "囤饼达"
Da Ge's Weibo journey was not smooth. His first Weibo account "btc达哥" was blocked for sharing Bitcoin knowledge, but he did not stop there. Instead, he opened a new account "囤饼达" and continued to spread Bitcoin-related knowledge with a pragmatic attitude.
---------------------------------------------
16. Conclusion
From a laptop in 2011 to Smart Way in 2024, Da Ge's story is a history of transformation from a technology experimenter to a Bitcoin believer. During his journey, friends such as Mr. C, @比特币布道者, @拖拉机, @Ale, @阿剑 and others became his companions and jointly promoted the spread and development of cryptocurrency.
Da Ge's experience is not only his personal growth history, but also an important witness to the development of the currency circle.
By HodlGpt
2024.11.24
1. Initial Exploration of the World of Bitcoin (2011)
In 2011, Da Ge first came into contact with Bitcoin due to work. At that time, Bitcoin was just a "toy" that only a few technology enthusiasts paid attention to. Out of interest in new technologies, Da Ge downloaded the Bitcoin wallet Bitcoin Core, and ran mining software on his laptop to connect to the mining pool, and used the CPU to mine intermittently for several weeks. Although graphics card mining had become mainstream at the time, he successfully mined 0.1 Bitcoin with the CPU. Because mining interfered with work to a certain extent, and the value of Bitcoin at the time was negligible, Da Ge suspended this attempt. Many years later, he jokingly called this mining experience "a low-cost digital experiment."
2. Regrets in 2013 (2013)
In 2013, Da Ge bought 6 Bitcoins at a cost of less than 1,000 yuan, but due to poor storage, the 6 Bitcoins were eventually lost, which made him very regretful. In 2021, during an accidental sorting, Da Ge unexpectedly found 0.1 Bitcoin obtained from mining in 2011. This "legacy" is now worth about 70,000 yuan.
---------------------------------------------
3. Return to Cryptocurrency (2017)
In early 2017, as the prices of Bitcoin and Ethereum soared, Da Ge's old friend Mr. C mentioned to him that mining Ethereum (ETH) with graphics cards was becoming a hot topic. Although Da Ge's perception of Bitcoin at the time was still that "the value was not stable", ETH's smart contracts and miner ecology attracted his attention. He decided not to take the conventional route, but to develop Chinese mining software for multiple currencies.
4. Deepening Mining Software
Da Ge successively launched mining software that supports multiple POW currencies such as ETH, ETC, ZEC, and XMR, and quickly accumulated a large amount of assets. At this stage, he earned his first pot of gold in his life from mining.
At this time, the ICO craze swept the world, and Da Ge also participated in some projects and obtained short-term floating profits. However, the vast majority of ICO projects eventually became “air coins”, which made him deeply realize that bubbles and risks coexist in the crypto market.
5. The shock of BCH hard fork
The Bitcoin community had a disagreement over the "big block dispute" that year, which gave birth to BCH (Bitcoin Cash). Although he did not directly participate in the dispute, when Coinbase launched BCH, Da Ge felt the shock of the market. He exchanged part of ETH for BTC and an equivalent amount of BCH to ensure the balance of asset layout. Although his interest in BTC has not yet fully awakened, this move has become a foreshadowing of subsequent changes.
---------------------------------------------
6, Technology and Thinking in the Bear Market (2018-2020)
As the market entered the cold winter, the mining ecology gradually cooled down. Da Ge's mining income decreased accordingly, but the advantage of low technical cost allowed him to continue to operate steadily.
7. Reflection on Monero and Centralization
When tracking the frequent algorithm updates of Monero (XMR), Da Ge found that its development team had absolute dominance over the project, and believed that this "algorithm centralization" ran counter to the true concept of decentralization. This observation further prompted him to become interested in Bitcoin's separation of powers mechanism, and gradually realized the uniqueness of Bitcoin as a "decentralized asset".
8. Awakening of the digital RMB test
In 2020, the news of the digital RMB test triggered Da Ge's deep thinking about financial control and freedom. He regards the digital RMB as an "electronic food stamp", and its "controllability" is a threat to individual freedom and a regression of the planned economy. This cognition prompted him to re-examine Bitcoin and begin to study its underlying mechanisms and economic principles. By reading classic books on Austrian economics, he strengthened his understanding of the value of free markets and scarce assets, and gradually converted over-the-counter funds into BTC.
---------------------------------------------
9. The craze and cost of DeFi (2021)
The DeFi summer of 2021 attracted global attention, and Da Ge also invested his ETH in the DeFi ecosystem. At the same time, he cleared assets such as BCH and ETC and concentrated funds on BTC.
10. Arbitrage and Risk
During this period, he tried a combination strategy of CEX lending + DeFi arbitrage, and made profits through funding arbitrage, quarterly contract discount arbitrage and other means. However, risks also followed. A QBT contract vulnerability caused him to lose more than 100,000 U in his deposit in PancakeBunny. This lesson made him deeply realize that the core risk point of DeFi lies in the security of smart contracts, and also made him vigilant about the transparency of CEX platforms.
11. In-depth technology
This year, he developed multiple smart contract applications and began to study Bitcoin brain wallet technology. He wrote a set of advanced brain wallet solutions and had in-depth exchanges with @比特币布道者, and also met @拖拉机. While discussing technology, they also laid the foundation for promoting Bitcoin popularization.
---------------------------------------------
[Establishment of faith and full warehouse BTC (2022-2024)]
12, after ETH switched to POS: "Everything except Bitcoin is a copycat"
When Ethereum switched to POS (proof of stake) in 2022, Da Ge completely lost interest in ETH. He believes that the centralization tendency and fairness issues of POS make ETH no longer comparable to Bitcoin. Since then, he has proposed that "Bitcoin is a choice of values and an anchor of liberalism." Therefore, "everything other than Bitcoin is a copycat." He gradually exchanged ETH and other PoS currencies for BTC in batches, and at the same time created a Bitcoin fixed investment plan. His strategies include pyramid fixed investment and cocktail fixed investment methods, and he promoted the concept and technical knowledge of Bitcoin through many popular science articles.
13. Exploration of Decentralization: Nostr Protocol
In 2023, the Nostr protocol attracted Da Ge's attention due to its decentralized characteristics. He studied the characteristics of this protocol in depth and wrote many articles to promote the importance of decentralization. During the promotion process, he met friends in the circle such as @阿剑 and @ale, and cooperated with them in the dissemination of concepts and technical applications.
14. Da Ge Index and "Smart Way": Quantifying Market Heat
In 2024, he designed the Da Ge Index based on market data to judge market heat by the deviation value of the second quarter contract. In addition, he launched the "Smart Way" historical curve tool to provide Bitcoin exchange rate historical data query services for users in the circle. These tools not only help more people understand the Bitcoin market, but also reflect his vision of promoting the popularization of Bitcoin.
15. Weibo Changes: From "btc达哥" to "囤饼达"
Da Ge's Weibo journey was not smooth. His first Weibo account "btc达哥" was blocked for sharing Bitcoin knowledge, but he did not stop there. Instead, he opened a new account "囤饼达" and continued to spread Bitcoin-related knowledge with a pragmatic attitude.
---------------------------------------------
16. Conclusion
From a laptop in 2011 to Smart Way in 2024, Da Ge's story is a history of transformation from a technology experimenter to a Bitcoin believer. During his journey, friends such as Mr. C, @比特币布道者, @拖拉机, @Ale, @阿剑 and others became his companions and jointly promoted the spread and development of cryptocurrency.
Da Ge's experience is not only his personal growth history, but also an important witness to the development of the currency circle.