"Mr. Zhang, if the electricity bill is delayed again, we will cut off the power!"
In the winter of 2018 in Inner Mongolia, I stood in the mining site wearing a down jacket, watching creditors dismantle the last S9 mining machine like vultures. Three hours earlier, I had just received a liquidation text message—my leveraged position was completely wiped out.
This is the 180th day since Bitcoin fell from 20,000 USD to 3,000 USD, and also the first day I went from 'Godfather of the Mining Circle' to being a person of bad credit.
💸 Chapter 1: The Era of Crazy Money Printing
In 2017, when I first encountered mining as a programmer, Bitcoin was only 3,000 USD. I bought 3 Antminer machines with my year-end bonus and put them on the balcony, unexpectedly recouping my investment in three months.
At the peak of the bull market:
✓ Buying mining machines in Huaqiangbei, Shenzhen, was like grocery shopping
✓ With an electricity price of 0.38 yuan/kWh, I earned a net profit of 170,000 yuan every day
✓ Modifying mining machine racks in a factory in Dongguan
The most outrageous was when the mining site tripped, and a dozen miners rushed to repair with flashlights, because 1 hour of power outage = a loss of 8 Bitcoins (worth 800,000 at that time)
（Insert old photo: Rows of mining machines with red indicator lights flashing/some day’s earnings screenshot）
⚡ Chapter 2: The Deadly Triple Leverage
Greed is like a snowball:
1⃣ Equipment leverage: Mortgaging Shenzhen property to add 300 mining machines
2⃣ Financial leverage: Using mining machine earnings to play 3x perpetual contracts
3⃣ Emotional Leverage: Raising funds from relatives with a monthly interest rate of 5%
When the crash began in January 2018, I still laughed at my partner and said: "Just right for bottom fishing". Until:
▫ Starting up the mining machine incurs losses immediately
▫ Loan interest exceeds daily earnings
▫ In Inner Mongolia at -20℃ deep night, the creditor took away 200 machines as debt repayment
（Insert comparison image: Bull market party vs winter mining site clearance video screenshot）
💔 Chapter 3: The 287 Days of Betrayal
The harsh reality after bankruptcy:
• My wife took the kids back to her family: "The coin you chose is more important than our son"
• The partner disappeared with the last 18 BTC
• Debt collection calls reached my 70-year-old father's hospital room
When I was the poorest, living in a 600 yuan rental in Longhua, I ate Master Kong noodles for a month, and when I received a Didi order, I found out the passenger was a former mining site junior, and quietly canceled the order...
（Insert close-up of items: Yellowed court summons/empty instant noodle bucket）
🌱 Chapter 4: Advice for Young People Who Want to Mine
Now I am doing blockchain technology training, and restarted in 2020 with 2 used mining machines:
✅ Always keep a 12-month electricity bill reserve
✅ The curve of mining difficulty growth is more important than coin price
✅ Don’t touch leverage! Don’t touch leverage! Don’t touch leverage!
Last month Bitcoin broke 60,000 USD again, and the partner who ran away back then asked me on WeChat "Do you want to cooperate again?" After replying "No", I clicked "Sell All" on the trading app.#BTC☀ #BTC走势分析
