#比特币披萨节# Bitcoin经历过怎样得磨难～crypto world黑天鹅

1. The Fall of Mentougou (February 2014)
In 2014, the world's largest Bitcoin exchange Mt. was hacked, and 850,000 Bitcoins vanished without a trace. Everyone should know that there are only 21 million Bitcoins in total, so it can be said that 4% of the total amount of lost Bitcoins. In terms of the price at that time, the total loss amounted to as much as $450 million in 2014 dollars, which should be understood in the context of the inflation that did not exist at that time.
The final result led to Bitcoin plummeting from $800 to $100, a drop of up to 80%, while exposing the vulnerabilities of exchanges, making a large number of investors realize that this decentralized utopia is still governed by centralized loopholes.
As of 2024, Mentougou has made compensations, but the value of Bitcoin has doubled over the ten years that have passed. The compensation could not be timely, after all, it was only 450 million USD back then, which is also 50,000 USD in Bitcoin in 2024. Making compensations represents a significant amount of funds for the entire crypto world and even the world.
2. China's ICO Ban (September 2017)
In 2017, the cryptocurrency craze swept the globe, and ICO projects in the Chinese market proliferated like wild grass. However, with everyone issuing coins, all sorts of characters mixed in the entire crypto world. Those who experienced it know that the small coins at that time were like the reaper's scythe for the manipulators, harvesting everyone's investments. Later, in order to regulate the market, on September 4th, seven Chinese ministries jointly issued a document to completely halt ICOs. Bitcoin plummeted by 30% in one day, its market value evaporated by 80%, and countless projects went to zero, leaving investors with nothing. This "political black swan" made the entire crypto world feel the power of the state for the first time.
Largest project loss: A certain project's white paper only packaged with "blockchain + shared economy" raised over 100 million yuan, ultimately becoming a bubble with the ban.
3. Black Thursday: The stampede under the pandemic ( March 2020 )
On March 12, 2020, the COVID-19 pandemic triggered a global financial market crash, and Bitcoin was no exception, plummeting from $8,000 to $3,800, while Ethereum dropped from $288 to $88. Leveraged contract investors faced $7 billion in liquidations within 24 hours, causing exchange servers to crash under the pressure.
This crash is due to the close relationship between cryptocurrencies and the macroeconomy. Cryptocurrencies are not safe-haven assets like gold; rather, they are amplifiers of risk assets.
Survivor's memory: "That night, I watched as my account went from 1 million to negative, and I couldn't even click the close position button" #PPI数据公布#