Travel and Cryptocurrencies
In August 2023, HTX selected the second candidate Jacky for space travel under its Mars Program. As planned by this program, one candidate will be selected each month, and thereby twelve candidates will be shortlisted in total to be evaluated based on their physical fitness, training and preparation, community contribution, etc., to determine the eventual passenger for space travel with Justin Sun, founder of TRON. Here’s the story about our second Mars Program candidate, Jacky.
“I knew I was very likely to win”
“I knew I was very likely to win (the candidacy of the Mars Program),” said Jacky, the second Mars Program candidate, excitedly in an interview. His words aroused curiosity since the Mars Program employs stringent anti-cheating measures. Additionally, the program’s lucky draw utilizes block hash values on the TRON mainnet to announce the winning result, ensuring fair and just operations (See the Mars Program’s rules announcement for details).
I asked, “How did you know that?” Jacky replied, “I had large trading volumes, and I clicked every day.” This explains why. The winning number in the Mars Program is determined based on block hash values on the TRON mainnet, and is redeemed using “Space NFTs.” Users earn “Space NFTs” by completing tasks within a specific time period. These tasks include one-time and recurring tasks. Among the recurring tasks, for every 10,000 USD traded in spots and margin, users will get a Space NFT. While many hesitated, those holding more Space NFTs will have a greater chance of winning. Just as the saying goes, “The early bird gets the worm,” implying that being first improves the chance of success.
“So, what’s your monthly trading volume?” I asked. “About over 10 million USDT,” Jacky replied. Initially, all I knew about Jacky was that he was quite young. However, as our conversation progressed, I began to realize that his success was not a stroke of luck.
A novice’s setbacks: Every failure counts
“I first learned about Bitcoin through some crypto finance projects that required using Bitcoin. Then, I searched online and found HTX and registered an account on it,” Jacky recalled his first encounter with Bitcoin, adding, in a slightly sad voice, that “I lost quite a bit of money because the project collapsed.” While it may not look like much now, that loss was substantial for this novice fresh graduate in 2015. Fortunately, with his engineering background, Jacky managed to gain more knowledge about Bitcoin. Unlike his previous speculative investments, Bitcoin opened a gateway to wealth for Jacky.
From February to June 2016, Bitcoin experienced a notable surge, soaring from $369.35 to a record high of $951.39. However, it began to fall as the year ended. Facing the rollercoaster ride of the crypto market, Jacky decided to seize the opportunity. “I entered the market in April 2017, back when HTX only offered Bitcoin and Litecoin. I bought Litecoin at around $25, but it later dropped to around $15. Since I borrowed money to invest, I was worried and decided to sell it to repay my debt.” What he thought was an opportunity resulted in setbacks again. After hesitating between giving up and persisting, Jacky chose to save money while studying the crypto market. “Every failure counts. Those losses are like ‘tuition fees’ paid,” said Jacky.
Escaping from “9/4” and gaining from higher uncertainties
On September 4, 2017, seven Chinese government authorities, include the People’s Bank of China, jointly released a statement officially characterizing initial coin offerings (ICO) as “essentially an unauthorized illegal public financing activity” and ordered “the immediate cessation of all token issuance and financing activities.” China’s stringent regulations triggered sharp price declines across cryptocurrencies, causing heavy losses among investors. Nevertheless, Lady Luck began to favor Jacky, now a seasoned player.
“I sold off my cryptos before the ‘9/4’ incident. It was terrifying, as many coins dropped 70% to 80% due to China’s crackdown on ICO. Later, when many exchanges like HTX allowed for trading in USDT, I reentered the market.” Having survived twists and turns, by 2017, Jacky had earned enough capital to explore overseas crypto markets. “What really helped me grow my capital was trading non-depositable-and-withdrawable tokens, primarily on South Korean exchanges, like WICC, which surged more than 20 times,” said Jacky with enjoyment when talking about the turmoil in the crypto market in 2017.
2017 and 2018 saw rampant speculation in the South Korean crypto markets, with many tokens trading at a premium on the country’s exchanges. This gap in prices is called the “kimchi premium.” Some exchanges took more aggressive measures, temporarily suspending the depositing and withdrawing of some tokens after they were listed. During that era, Jacky explored South Korean exchanges like a “gold prospector” and grew his assets through rounds of “panning.” In addition to “gold mining” in South Korea, quantitative trading played a crucial role in Jacky’s wealth accumulation. “However,” Jacky noted, “an increasing number of participants has led to fiercer competition.” Moreover, as grid trading became widely available, he gradually phased out of quantitative trading.
In 2022, Jacky suffered a setback again – with the collapse of LUNA. “I held a large position in LUNA, and my losses had exceeded my warning threshold. Fortunately, I managed to withdraw my assets,” he explained. Nonetheless, the LUNA incident had a significant impact on Jacky. “I didn’t do anything for a month afterward; I went out to relax and have fun.” Having experienced the ups and downs of the crypto market, Jacky gained a deeper understanding of this space.
“I trade for happiness”
“I know my personality well, so I make trading strategies that align with my traits. What suits me best is what I’ll go for,” Jacky revealed his profound understanding of the essence of trading.
“I trade for happiness. For instance, if I profit from a new coin, I’ll sell it. After that, whether it goes up or down has nothing to do with me. If I make a mistake, I’ll set a stop-loss limit. Say if I lose RMB100,000, I’ll sell. I won’t feel pressured since the loss is within my tolerance,” explained Jacky, adding, “I don’t trade frequently in the current bear market. Instead, I check the social media posts by crypto influencers, data, and news, then do workouts and live well. I’ll trade when the opportunity comes. You can never have enough money; contentment leads to happiness.” Jacky’s trading style and mindset remind me of the football legend Messi, who enjoys a leisurely stroll on the field but is quick to score when an opportunity arises.
When asked about his view on the market outlook, Jacky commented, “This year is a bit like 2019. The major bull market may not occur until the second half of next year. I’m a short-to-medium-term investor who is happy with a key portion of gains. Holding for too long creates anxiety due to price fluctuations.” He continued, “The bear market won’t offer many opportunities, unlike the bull market. So now, I focus on improving my fitness, as I’m going to space, where I’ll take a photo with Justin. Look at my profile picture (image caption: Won’t change this pic until I lose 10 kg). I’ll participate in the next Mars Program livestream and do lots of clicking. If I become the next candidate, the competition will be much lower. Haha…I’m also an astronomy enthusiast. I’ll take tons of photos when I get to space…” Indeed, what an extraordinary experience it is to see our blue planet from space.
A prudent player’s survival rule: “Endurance matters”
To conclude our interview, we asked Jacky to define himself with a few labels. He chose the term “prudent player.” In the intense arena of crypto, he emphasized, “it’s not about how much you make from a single trade; it’s about how long you endure.” This is perhaps the survival rule cherished by a “prudent player” like himself. Jacky rarely engages in high-risk futures trading, explaining, “In futures trading, a single black swan event or instance of price manipulation can wipe out your assets. That doesn’t suit me.” Additionally, he has never fallen victim into an exit scam. “I downloaded HTX right after I entered the market. Among all the platforms I’ve used, I trust HTX the most. Choosing a good platform is crucial; your capabilities will do the rest.“
As Jacky accumulates wealth, there are always people asking to follow his investment strategies. He always advises caution, “The risk is high, and you may lose a lot of money.” In fact, if someone is deterred by the mere mention of these risks, they may not be suited for the crypto market, which has notable volatility and regulatory uncertainties. In Jacky’s view, “Participating in the high-risk crypto market requires sufficient experience and is not suitable for those seeking quick gains or those with limited capital. I do not lead such individuals.” According to Jacky, only a few people trade together with him.
Jacky’s journey presents us with the legendary rise of a crypto mogul – how he grew from a novice trader to a seasoned player. His steady, mature, optimistic, and self-assured demeanor left us a strong impression. Meanwhile, his trading experiences and principles are thought-provoking, like “I trade for happiness,” “Investment requires one step at a time,” “Endurance matters more than earning a lot at once,” “Mindset is crucial in trading,” and “Every failure counts.”
Jacky’s experience also illustrates the turmoil, development, and transformation of the crypto market since 2017. He is a witness to this exciting era as well as one of its fortunate beneficiaries. What’s more, he has played a role in reshaping and advancing this era. As he put it, “The crypto sector is still in its early stage. The future belongs to us. There are many things worth doing.”
Jacky repeated stressed the importance of choosing the right platform and spoke highly of HTX. He has demonstrated the most trustworthy platforms with his legendary, extensive trading experience. In 2022, HTX remained on the right track amid crises and collapses among crypto exchanges and crypto financial institutions.
As an astronomy enthusiast, Jacky reiterated his willingness to explore the wider world and chase dreams among the stars together with HTX. With his newly adopted workout routine, we look forward to him fulfilling his dreams, capturing the stunning image of our blue planet from space.