Doll Sister's Personal Account of Cryptocurrency Trading Experience: "Borrowing False to Repair the True" for Traffic, Turning the Tide After a Huge Loss of 8 Million Dollars

The Tall Tree Will Be Battered by the Wind

The ID of HongKongDoll and everything originates from a painting. It would be too early to start from that time, so I will skip it here. The azuki in 2021 and the ETH hedging in 2022 were originally just a small hobby of a subsidiary account, but it turned into financial freedom and became the target of many. I previously wrote about the cost of fame; extortion and unboxing were just minor episodes. Hobbies turned into burdens, rebellion turned into regret, and living in fear of being devoured by those around me was not a pleasant feeling. After enduring for more than a year in 2022, I chose to part ways with my ex-boyfriend in mid-2023. From a business perspective, considering the costs already invested, hundreds of unreleased film materials, and multiple top adult accounts, if everything were to vanish overnight, it would feel like my enemies not only sank my ship but also urinated on my head. By this time in 2023, the fear had passed. I wanted to curse, but the words wouldn't come out; there was a fire in my heart. I chose to use all my money to buy these materials and accounts and manage them myself.

Borrowing Falsehoods to Seek Truth

How much did I actually lose in 2023? This question is quite difficult to answer. The approximate figure of 8 million dollars is derived from my revenue share from my O site, minus the cash I had on hand, and then deducting all expenses for purchasing accounts and copyrights. Yes, during the separation, I paid a sum of money and a property totaling about 3 million dollars. Shortly thereafter, a margin call in October directly led to my cash depletion, almost to zero. As for the term "bankruptcy," I had been using a method to attract traffic, clearly understanding what kind of narratives the public liked, and thus produced stories accordingly.

After the bankruptcy post was released, I followed up with a breakup post, utilizing emotional continuity to enhance the flow of traffic. Although both events were true, I constructed a more dramatic lie using a misaligned timeline. The actual situation was that the breakup occurred before the margin call. After the breakup, I sensed a decline in material production capacity, and the income from the O site was about to collapse, so I urgently needed a hot topic to activate the crypto accounts I had deployed for two years but had not activated, which is this account, to increase income channels and help me quickly repair my cash flow and recover the expenses from the separation. The experience of the margin call coinciding with zero balance connected the entire event. In the first year of taking over the O site business, my income was indeed halved. However, because I shifted some of my focus to crypto, this choice completely changed my perspective thereafter.

Why did the crypto account frequently showcase O site income? It was still part of the process of borrowing falsehoods to seek truth. By that time, various states had already bottomed out, and I could no longer care about the wind. In the public's perception, I had become the person with "infinite bullets," continuously injecting funds from outside into my crypto accounts. So I simply utilized this misunderstanding to endorse my empty wallet, leaving more room for public imagination. The reality was that after activating the crypto account's traffic in 2023, my on-site funds were zero, and the real "infinite bullets" were the teachers with regular group fees, only a public impression remained. To take shortcuts, I could only focus on traffic, and in the world of traffic, the most sensitive and resonant content is always the amount of money.

Thus, I positioned the account as one for foolish people with lots of money and high traffic. The initial main income channel was only advertising. Indeed, advertising with me was very expensive. At that time, I had two annual contracts and four semi-annual contracts. During the traffic explosion period from the end of 2023 to mid-2024, I took on countless advertisements. First, I apologize to everyone; I have done a lot of filtering and only do content with endorsements. I hardly accept individual advertisements, only do accompanying runs, and strive for long-term mutual benefit. Unfortunately, the core of pure attention economy is "decorating a Christmas tree." Nothing else; the speculative world is full of uncertainty, and the only certainty is that the speculative feast will eventually end. If there is something that can always capture your attention, it is yourself. Additionally, the decision to sign stake advertisements was a politically incorrect choice I made at the end of 2023. After the 2024 contract ends, I will refuse all advertisements related to web2 or web3 gambling and even prediction platforms, and I mention this separately because I have reflected on this matter many times.

From Speculation to Investment and Back to Speculation

From the end of 2023 to the beginning of 2024, during the days without much capital, I tried various ways to increase income, including expanding adult products and some businesses related to adult account streaming. The adult products achieved unexpected success, but that is unrelated to this theme, so I will not elaborate. At that time, I was still in the crypto circle, only activating traffic as a retail investor, harvesting waves of traffic from inscriptions, memes, and pre-sales, enjoying waves of Christmas tree festivities. Due to my risk appetite changing significantly after the margin call, only a small proportion of my funds were in this speculative feast, fluctuating between gains and losses, until the emergence of Ethena. From the first deposit to additional deposits and then to a large purchase of YT, the overall rewards almost doubled my principal, which was also the first time I earned money comparable to my principal without relying on traffic. In addition, I started my coin accumulation journey at the end of 2023. In 2024, you will likely see me reviewing my buying or accumulating coins during downturns. The backtesting at that time, including the current backtesting, shows that DCA BTC can outperform any strategy; it's just a matter of time. I firmly believe this, so I would basically convert any money I earned into the mainstream coins I currently hold. I used the simplest method but managed to maintain stable growth in the rising tide at the beginning of 2024. However, when BTC first reached 100,000, I introduced rebalancing, keeping my coin holdings around 20%, changing monthly, freeing up more funds for me to practice arbitrage and DeFi. Later, I changed my strategy again; I no longer sold BTC and set a lower limit for BTC holdings, only rebalancing other coins.

This investment plan is essentially a competition between my ability to profit from traffic and time. I am inherently an attention economy entity; there are no top-tier influencers, only time passing unknowingly, and as attention slowly dissipates, I believe time should win. The accumulation of my first year part-time in the crypto circle exceeded the halved income from the O site that year, just as I had anticipated. Of course, I also had my ups and downs. After accumulating a certain amount of principal in 2024, during the most FOMO phase, my investments in angel rounds and KOL rounds almost all ended in failure, with very few projects still alive.

The real large-scale profit began after 2025. This year, I rarely took on advertisements; most were KOL rounds and contracted platforms. However, this year has been a crazy one. Trump issued coins late at night, the S&P 500 dropped 11% in two days in April, tech stocks doubled in six months, and Trump's election turned speculation into the main theme of this year. I also encountered many benefactors, and by mimicking various smart money, I did many things right. In various small groups, I gathered the top talents in the Chinese circle, all of whom I modeled after. Why mimic instead of learn? Because in actual operations, not only do windows of opportunity vanish in an instant, but various unexpected events also occur. Just learning does not guarantee execution; I had to mimic, copy homework, and perform operations to proceed to the next step, refine details, and perceive principles. It can be considered a crash course in a cult. I gradually began to transform from the simplest investments into speculation through continuous practice.

During the meme retreat in the first half of the year, I preserved some profits, with assets in the circle fluctuating around 4 million dollars. During this period, I built scripts for cross-exchange arbitrage, but due to insufficient investment, the profits were not substantial. As I gradually adjusted the volume, the second half of the year saw a surge in mainstream coins, especially BNB's ATH, which nearly doubled my accumulation profits. Then came last month’s XPL at 1.1 million dollars, followed by last week’s de-pegging event with WBETH at 1.8 million dollars. Thus, I completed my planned 8 million dollars recovery. However, the profits from the de-pegging event were almost non-replicable; it was a combination of luck and courage. If the money were not in the spot wallet, I wouldn't have been able to operate or profit that much, as the lowest point's few minutes were stuck, making it impossible to transfer money or deposit and withdraw. All of this came to me while I was consolidating funds on Binance, with all the money in the spot wallet, using profits from XPL.

Looking back at this account, from the activation of the account with 900,000 active fans to the current 1.6 million fans, the traffic has actually decreased due to changes in content output, which is reasonable. My plan moving forward is quite simple: I will continue to do what I am good at, further compressing time costs while maintaining production capacity. However, I likely will not share much on this account anymore; it will return to its original state, starting from zero to see what becomes popular. Some of my other accounts will gradually start sharing what I am currently doing, and my identity may change accordingly, so please do not expect too much.

The Fool's Opponent or Teammate

Looking back over the past two years, I often ponder one question: Who are we really competing against? On the timeline, discussions about the disappearance of dividends are frequently seen, with some even believing that the crypto circle has reached its end. They feel that over time, the Darwinian effect becomes evident, with fools being largely eliminated, making it difficult for wealth transfer to occur with so few fools. I think there is some truth to this; to speculate, one must be the opponent of fools. However, from another perspective, the blockchain paradigm has not fundamentally shifted yet. I believe mass adoption is still in its early stages, and the singularity is yet to come. When the world of blockchain transitions from a casino to everyday life, when the paradigm shifts, and wealth is no longer primarily about transfer but creation, when fools and smart people share dividends, that will be the true dividend stage. This means that in investing, one must be teammates with fools. It is too early to draw conclusions now; I believe this is the reason I will continue to exist.

What Should Newcomers Do

From my perspective as a retail investor, I have only a few words:

Try not to go solo; there must be mentors among your group friends. References are very important; look at logical content output to avoid being influenced by traffic, and carefully discern your role models or templates.
At least two Twitter accounts, one in Chinese and one in English, open different accounts at different times to break out of the information cocoon, and also mute the noise of traffic.
Maintain execution, patience, and safe position management. Use the amount of funds to do appropriate things; do not go all in; just stay alive.

Additionally, one of my habits is to review and organize tweets. Good tweets are worth revisiting. I categorize and organize some saved tweets in Google Sheets to prevent deletion and facilitate quick searches. Then I can ask GPT questions at any time (it's best to include prompts with reference links and cross-verification requirements).

The real version of me will not tell you that not giving up means there is hope; drink less motivational quotes. Instead, I will tell you that becoming smarter, breaking out of your environment, and making unrestricted decisions is where hope lies.

About Me

Am I still filming? Have I reached the shore? In my view, there is no concept of reaching the shore or freedom because I have long been in an account management state. The time cost generated by pre-production on the O site each year has dropped to a negligible level. What remains is arranging the activity of the traffic accounts, which is almost cost-free. I do not need to film anything, yet I can still maintain an additional income of over 1 million dollars each year. The income without time cost was precisely the reason I bought these materials in the first place. While you see these videos as just videos, I see them as the remaining usable lifespan of the accounts. If you imagine me as someone filming who suddenly pulls out a phone to check K-lines, I might find it hard to contain myself.

Why go back to school? I transitioned from experiencing summer school to genuinely enrolling in the fall. Many close friends in the crypto circle do not quite understand my decision to return to school, thinking that since I already have some money, why bother? The reason I started school is partly to complete my life checklist and partly because I do not want money and crypto resources to be the only gains of this cycle. I know many people advocate that education or studying is useless, but I want to say that even if I start a business without a degree, investors will still look at which school I dropped out from. It's better to be clear-headed and not always fantasize about being that one-in-a-million martial arts genius. The time cost of learning can be controlled by oneself, and knowledge levels can be reflected after working together. However, at a glance, the most direct educational background remains the social label given by others. Those lost social experiences will ultimately need to be picked up bit by bit. A person with no background finds it hard to sustain the power that wealth brings in the long term and perfectly. I do not want to create an awkward ceiling for my future.

Why don’t I block those accounts that insult me while unboxing and let them comment? I really like this version of the story, so I won’t block those who promote this matter. The base of the pyramid gathers the most people looking up. Whatever they like to see, I will provide, regardless of its truth or falsehood. I actually hope they can turn the meaning of life into helping me promote Wang Jiale. I would be happy to see that. If it were not for this, just insults and venting that affect other Twitter friends' perceptions, I would probably have blocked them directly. In fact, my transformation from disgust to understanding happened within this year. I later realized that these people using my name for traffic were also one of the means of survival. Without traffic, they cannot take on advertisements. Not disturbing others to make a living is my principle; I neither smash their rice bowls by blocking them nor argue and fight over it. I see through it but do not speak out.

As a side note: I have remembered a highly praised reply under my bankruptcy post for two years, stating that I was not worthy of my wealth. Every time I feel a disconnect between knowledge and action, I remind myself of it. I don’t know if he is still in the crypto circle, but I am quite grateful.

Of course, this story may have another version. I hope that in my lifetime, I can write it down openly and generously. At the end of the article, I will definitely add "surprise motherfucker."

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