Shenyu Mao Shixing: A Decade of Glory and Regrets in the Cryptocurrency World

In the world of cryptocurrencies, there’s a name people often talk about—“Shen Yu.” He is Mao Shixing, a legendary figure who spent a decade traversing countless ups and downs of human life. From first touching Bitcoin at 21 to missing the biggest opportunity of his life at 26, Shen Yu’s experience seems to compress the entire crypto industry’s history of hardship and change.

Over those ten years, Mao Shixing went through confusion amid sudden wealth, fear during market collapses, and he also witnessed people around him sliding into despair due to losses. He is not only a witness, but also a participant in the dramatic market changes of this era.

The Initial Aspiration and Opportunity: Shen Yu’s Crypto Debut

The story begins in the summer of 2011. At that time, 21-year-old Mao Shixing was still an ordinary second-year student at Beijing University of Chemical Technology. During an accidental encounter in the library, he came across the concept of Bitcoin—a decentralized digital currency—and was immediately drawn in. From then on, a new world opened its doors to him.

To explore the mysteries of Bitcoin more deeply, Mao Shixing even went as far as skipping classes, spending all day immersed in some of the earliest Bitcoin forums abroad. He observed the interactions between Satoshi Nakamoto and community members, and witnessed the beginnings of a brand-new financial system. This passion and persistence laid the groundwork for his success later on.

From Millions to the Billion-Level: Wealth Accumulation in the Mining Era

In early 2012, Mao Shixing decided to turn theory into practice. He purchased several graphics card mining rigs and officially stepped into the mining business. Through the Bitcoins he mined himself, he quickly accumulated his first 1 million yuan.

Seeing where the opportunity lay, he founded China’s first Bitcoin mining pool—F2Pool (later known as Fish Pool). This move transformed him from an individual player into a driving force in the industry. By 2013, when the price of Bitcoin surged to over 700 USD, Mao Shixing’s account also reached the billion-level digits. At the time, he was only 23 years old.

The Promise of 25 Bitcoins: Romance Amid Market Prosperity

In the spring of 2014, when the Bitcoin market began entering its winter phase, Mao Shixing—however—walked into the halls of marriage. On May 8 of the same year, he registered his marriage with his girlfriend (nickname: Dongdong), whom he had met within the Bitcoin community.

The most romantic part was that he didn’t choose a traditional diamond ring; instead, he gave his wife a unique gift—25 Bitcoins. Even more touching was the fact that, in the block transaction information mined by Mao Shixing’s mining rigs, he left behind a fable-like line: “Take my hand’s heart, and grow old with me. Shen Yu to Dongdong.” Recording love in a way that uses the blockchain—at the time, this was truly very creative.

The Bear Market Raid: The Market Cycle Behind a One-Night Zero

The long bear market from 2014 to 2015 dealt a devastating blow to the entire mining industry. Rising electricity costs, increasing mining difficulty, and falling coin prices—the triple hit forced Mao Shixing to shut down the company. In that moment, the once-wealthy fortune of hundreds of millions looked extremely fragile in the face of the market. When faced with losses, the former glory vanished instantly.

By 2016, the market began to recover slowly. Mao Shixing restarted his business; this time, he turned his attention to Ethereum. Through Ethereum mining, he accumulated nearly 100,000 tokens.

The Missed 2 Billion: Human Nature and Fear in Shen Yu’s Eyes

What’s heartbreaking is that just as the Ethereum market was about to welcome a new bull run, Mao Shixing chose to sell all those 100,000 Ethereums—at the time, getting back only about 2 million yuan in profit.

If he had chosen to hold until today, those tokens would have already appreciated to over 2 billion yuan. That “if” became a regret in many people’s hearts—one of the most classic “loss-sense” cases in the crypto world.

Shen Yu deeply reflected that the reason he missed this opportunity was rooted in fear during the market downturn. He had seen people around him slide into despair due to overnight losses, and this fear became deeply embedded in his trading decisions. Greed when getting rich, fear during the bear market—these two forces of human nature played out one after another, and in the end, he brushed past enormous wealth.

Lessons From a Decade of Ups and Downs

Mao Shixing spent ten years traversing market cycles that others could only experience over a century. From the eager expectations when he first entered the market, to confusion after getting rich, to despair during the bear market—finally, to a profound realization about human nature—this is the story Shen Yu left for the crypto community.

His experience isn’t just an inspiring legend; it’s a mirror reflecting the inner worlds of everyone who wanders in the market. Greed and fear alternate, and behind every decision is a contest of human nature.