Unveiling the Crypto World: Insights into the Rise and Fall of Virtual Money through Poker

The crypto world once gathered a desire for wealth, pride in trends, belief in blockchain, and vague anxiety, but after a long period of self-development, it is now gradually unveiling its mysterious veil.

There is a unique deck of playing cards circulating in the crypto world, consisting of 54 cartoon cards representing 54 well-known figures in the crypto world. This includes the mysterious Bitcoin founder, a proponent of free markets, the CEO of a large exchange, and the "masters" who became wealthy through virtual money, among others.

These characters each play their roles and master different resources, forming a real-life game. This competition is like a fleeting dream, evoking deep emotions: some achieve financial freedom through early advantages, some flee to foreign lands with nowhere to settle, some hold great hands yet lose miserably, and others are eventually liquidated through cheating.

Let's start with a few representative figures from this deck of cards and take a glimpse into the people and events of the crypto world.

Diamond J: The Star Exchange of Trust Collapse

The founder of a well-known Bitcoin exchange platform was once the "Jack of Diamonds" in the crypto world. He once regarded Jack Ma as an idol and even imitated Jack Ma by stating that "the company is always ready to donate to the country." However, this founder's platform is not Alipay, and he ultimately cannot be compared to Jack Ma.

Red Heart J: The New Coin King That Reached the Top in Half a Year

The founder and CEO of a well-known trading platform is the "Jack of Hearts" in poker. This programmer, who was once a staunch believer in Bitcoin, made it to the Forbes cryptocurrency billionaire list in just six months, becoming a billionaire.

With a spirit of idealism and adventure, he resolutely sold his property in Shanghai in 2014 and invested all his funds in Bitcoin. In 2017, taking advantage of the rising market for digital currency, he made two key decisions: to focus on coin-to-coin trading and to expand into overseas markets. This was prompted by a friend's reminder about the regulatory risks faced by exchanges: "Avoiding direct contact with financial institutions can reduce risks and regulatory complexities."

Red Queen: The Unsettled Situation Supported by the Sister

The explosion of a certain trading platform is not only attributed to the founder's vision but also to the contribution of "Queen of Hearts" in poker. This partner, known as the first sister in the crypto world and the platform's "chief customer service officer," has a background in psychology and was a well-known host on a travel channel as well as an executive at a live streaming platform. She used the live streaming model to propel the platform to become number one globally.

In January 2018, to promote a certain token, she organized a global live streaming event, doing "coin distribution" on multiple platforms. Users could participate in the lottery as long as they traded 1 Bitcoin on the platform, with prizes including tokens worth $10,000 and a luxury sports car. This live streaming lottery method brought a large number of users and trading volume to the platform.

As the number one figure in the crypto world, her presence always becomes the focus. The atmosphere in her community is the most harmonious, with industry insiders commenting: "Many big boss groups were originally quiet, but as soon as she joins, they immediately become lively."

In contrast, some "masters" who have made a fortune by speculating on coins and opinion leaders who endorse ICOs seem to be more carefree.

Ace of Hearts: The Billionaire's Strategy to Laugh at the Chives

In the Spring Festival of 2018, the "Three Points Sleepless" WeChat group caused a sensation. The group gathered many big shots from the internet and investment circles, and the speed of information dissemination made people exclaim, "In the crypto world, a day is like a year in the human world."

One member in the group is the "Ace of Hearts" in the crypto world. He is China's Bitcoin billionaire, a bestselling author, an angel investor, and the founder of a certain virtual money trading platform. His transition from English lecturer to opinion leader in the crypto world is remarkable.

His goal seems to be to harvest "韭菜" in this fertile land of China. He understands the pain points of the middle class: the desire to break through class barriers. The promise of "getting rich overnight" caters to human nature, and Bitcoin and ICO tokens have become a fast track to financial freedom in the eyes of some.

In June 2017, the white paper for the first ICO project he initiated was released. Despite ongoing skepticism, his followers still firmly believed that he could lead everyone to achieve financial freedom. The project successfully raised $185 million, and its market value once soared to $5 billion, earning it the nickname "$5 billion of air."

However, in September 2017, ICO faced strict regulations, and he also faced a crisis of trust. After cashing out 185 million USD, the project team claimed it had nothing to do with him and no longer allowed Chinese individuals to participate in the crowdfunding. People began to question whether he was an angel or a scammer?

Plum Blossom A: The Ambitions of the Mining Overlord in the Jianghu

If we talk about who truly has influence in the crypto world, there is one person who deserves it without a doubt. This low-profile powerhouse is known as the "Emperor of Hash Power," "Generation Mining Tyrant," and even the "Only Person Who Might Launch a 51% Attack" — he is the "Ace of Spades" in the deck.

This 1986-born dual-degree master's graduate from Peking University is the founder of a large mining machine company and an early promoter of Bitcoin. After being introduced to Bitcoin in June 2011, he spent three days studying the technical points and translated the Bitcoin white paper, which is the first translated version in the Chinese-speaking world.

In 2013, he collaborated with a graduate from the Computer Science Department of Tsinghua University to start manufacturing Bitcoin mining machines, thereby establishing his position in the industry.

As the controversy over Bitcoin's scalability intensified, he began to publicly support forks, sparking huge controversy. After failing to reach a consensus with other teams, he launched a Bitcoin fork coin, which once caused turmoil in the crypto world.

As a "mining overlord", the amount of computing power he holds remains a mystery. In an interview, he showed his ambition to unify the crypto world: "After the Bitcoin fork, it is just an independent community, nothing more." At a blockchain conference, he even proposed the concept of a blockchain "private central bank", causing a sensation.

Shuffle the Deck

From an observer's perspective, for any game to continue, a certain order and bottom line are required. If the game in the crypto world has already become tumultuous, then researchers and regulators are the important forces in maintaining financial security, preventing risks, and awakening the "韭菜".

A senior official from the financial regulatory department once raised "Nine Questions about Blockchain," covering core issues such as the essence of blockchain, the source of value of Bitcoin, ICOs, decentralization, and security. He pointed out: "Understanding blockchain, you won't believe the myths cloaked in blockchain; understanding Bitcoin, you won't believe it will rise forever; understanding ICOs, you will realize it is just a beautiful lie; understanding Tokens, you will understand that many people are just telling stories."

Recently, senior officials of the People's Bank of China emphasized at an important meeting: "We must advance the research and development of central bank digital currency, while regulating and cleaning up various types of Virtual Money."

The new round of reshuffling in the crypto world seems to have already begun.