_Author: _Little King, Foresight News
This is a story about a small player in the cryptocurrency world with dreams of getting rich quickly who returns to campus to "promote" Binance Alpha. Unexpectedly, what seemed like a simple money-making model turned out to be full of prejudices from ordinary people towards the crypto world, sanctions from the broader environment, and various unexpected events, leading to a situation that was both amusing and absurd…
A High Monk Spreads the Dharma, I Promote Binance Alpha
I am Xiao Jin, a recent university graduate this year, and I feel quite ashamed.
Previously, I was interning at a Web3 company in another city, enjoying life without thinking about my roommates. But now that I’ve discovered Binance Alpha is very profitable and I plan to go all out, the lovely faces of my roommates suddenly appeared in my mind.
Image from the internet
Ashamed as I am, "If you don't make money when you can, you're a fool," so I just need to share the profits with my roommates! To enlighten the masses, a high monk spreads the Dharma; to make money, this university student promotes Binance Alpha.
So, taking advantage of the opportunity to return to school to prepare for my thesis defense, I planned to pull all my roommates onto the "pirate ship"! There are a total of 6 people in the dormitory, and since I had already brought "Xiao Guo" on board to help me when Binance Wallet had its exclusive TGE (initial token offering), there are still 4 people left to convince.
Before going back, I decided to try directly "PUA" my roommates online, to get them to help register Binance accounts! As a qualified manager, this task should naturally be handed over to Xiao Guo, who is still at school.
A day later.
"Xiao Guo, how many Binance accounts did you manage to get from the dormitory?" "Just one, Lao Gao is willing to do it, but the others are not too keen when they see they need an ID. However, Lao Gao said his girlfriend can also do it, so that makes two accounts."
Well, putting myself in their shoes, if my roommate suddenly asked me to register on a platform and needed my ID, I definitely wouldn't be willing either. They might even suspect it's some kind of pyramid scheme or a shady loan platform. It seems I can only wait until I return to the dormitory to "appeal to their emotions and reason"!
Registering an Account for Money? Will It Affect My Civil Service Exam?
The scene shifts, and I am back in the dormitory, sitting beside my roommate's bed.
Image from the internet, not the author
"Xiao Yu, have you heard of Bitcoin?"
"What? Bitcoin? I've heard of it, didn't the early buyers all get rich? What about you, did you buy some?" Xiao Yu replied vaguely, staring intently at his phone playing Honor of Kings.
With tears in my eyes, I replied, "Of course, I didn't buy any." Then I gradually explained, "There are exchanges for trading such cryptocurrencies, and they offer valuable benefits to attract new users. Can you register an account, and I'll help you with it?"
"Is it the one Xiao Guo mentioned before? Xiao Ye said you need an ID, and he didn't do it, so I didn't either."
"I'll give you a share of the profits, if you do it for a month, you can buy a few legendary skins!"
Upon hearing about the legendary skins, Xiao Yu finally got interested, but he still hesitated: "Is it really that good? Is it legitimate? Doing this won't affect my civil service exam, right?"
"Of course it's legitimate, how could I trick you? You can even find Binance Alpha on Xiaohongshu. Moreover, these exchanges are all foreign, and they don't share information with domestic ones, so they are completely unrelated!"
"Then… okay." After much internal struggle, his desire for skins ultimately outweighed his hesitation, and Xiao Yu agreed. Binance account + 1. It's surprising that Xiao Yu, who usually trusts me a lot, is so cautious; it seems that "cryptocurrency" and "foreign exchanges" still hold a terrifying reputation in the minds of most ordinary university students, with deep-seated prejudices. At the same time, I couldn't help but marvel at how effective Binance Alpha's "money distribution to attract new users" is. No matter how deep the prejudice, it can be broken by the effect of wealth.
It seems the key is the profit-sharing. So I used the same trick again, "tempting" Xiao Ye with profit-sharing, and successfully secured another account.
Huawei Phones, Don't Disagree, Binance Is a Virus
Now, only Xiao Zhao is left in the dormitory. Xiao Zhao isn't short on money and isn't very interested in profit-sharing, but out of face, he still agreed to help register an account. However, ten minutes later…
"Xiao Jin, my Huawei phone says your software is a virus. I'm not comfortable with that, so forget it!"
Huawei phone shows Binance as a virus during installation
Having downloaded the apps of major exchanges years ago, I was a bit confused. Although I am a university student, I have "been in the circle for years" and had forgotten the numerous obstacles the broader environment poses for ordinary people to access cryptocurrencies. It seems that adding accounts is not as easy as I thought! (Later, I learned that the HarmonyOS makes it even harder to install apps from major exchanges.)
After some effort, I still couldn't convince Xiao Zhao, so I had to give up. However, counting my roommates' accounts and their friends' accounts, I now have nearly 10 accounts. Isn't it time to make a big profit? The plot once again did not develop as planned.
A Twist: My Roommate Turns Out to Be a Genius Trader!
As an ordinary university student who has only ever bought funds on Alipay and has hardly opened a stock account, my roommates are completely clueless about "trading." After painstakingly teaching them how to brush daily trading scores, when it came time to "harvest," another problem arose!
The new round of Alpha airdrop qualified, but it wasn't worth much. Xiao Ye received LA but didn't know how to sell it. Since he had only acted as a tool for brushing ZKJ before, he panicked and accidentally made a purchase instead.
Looking at the screenshot of Xiao Ye's operation sent by Xiao Guo, I calculated the potential losses and almost broke down.
However, upon closer inspection, the sell operation at the top had failed. I quickly recalled the K-line charts of multiple Alpha tokens that plummeted after going live, and cold sweat broke out. If it hadn't been sold in time, I might have lost hundreds of U, truly I was hoping for the airdrop, but it was after my principal!
Fortunately, the plot twisted again!
Xiao Ye's hasty purchase happened to be at the lowest point of the LA token price, and after a series of operations, the 50 U Alpha airdrop surprisingly turned into 300 U. It was truly a case of "turning misfortune into fortune." In the current market where I was repeatedly losing money, it felt like witnessing the rise of a true genius trader.
But the cold sweat from my roommate's operational mistake also reminded me: cryptocurrency is extremely dangerous; ordinary people can incur significant losses if they operate carelessly.
Profits Decline, Just Started a Business, and Now Facing Unemployment?
The "bad start" made me more cautious, but problems kept arising. Fortunately, a few days later, when ZKJ crashed, we didn't brush the trading volume. After narrowly escaping that, we faced the dilemma of "no tokens to brush, and huge losses."
Xiao Guo using AB to brush trading volume, encountering "capital manipulation"
When the token price was stable, the cost of brushing Alpha token trading volume was still acceptable, but once luck ran out and we encountered significant price fluctuations while brushing trading volume, the losses started at 10 U or 20 U.
As the cost of maintaining daily trading volume points increased, and with Binance Alpha's increasingly competitive score requirements and decreasing airdrop values (even less than 50 U), my entrepreneurial journey with Alpha seemed to be nearing its end before it even began.
Especially after introducing the "first come, first served" mechanism, brushing trading volume and paying fees resulted in not being able to grab any tokens. Not only was I not making money, but I could also "lose everything."
Making money as a university student is really hard; the "simple model" of making money with Binance Alpha, when executed in bulk, is indeed fraught with twists and turns. But before it all fell apart, ordinary people experienced the wealth effect, and Binance gained a large number of new registered users. In this game, who is losing, and who is winning?
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