Coin Market Observation Bureau ✖️ Bit Wu: Slow is Fast, Less is More, Ten-Year Web3 Survival Rules and the Path of Free Investment

This issue of "Crypto Market Observation Bureau" features a dialogue with guest: Bit Wu, a Web3 independent investor
Host: yuanyuan, BitMart Marketing VP

In the crypto industry, most narratives revolve around "making quick money," "riding the wave," and "the next opportunity for wealth." However, what truly determines whether a person can stay at the table long-term is often not the luck of seizing a market opportunity, but rather:
When the cycle reverses, feedback disappears, and assets go to zero, can they still survive and continue doing the right things?

This is precisely what Bit Wu has repeatedly validated through personal experience over nearly the past decade.

From first truly encountering Bitcoin in 2016 to experiencing two life turning points that nearly led to "zero"; from rapidly accumulating immense wealth during the 2017 ICO wave to rebuilding understanding and rhythm during a long downturn—Bit Wu does not shy away from failure, nor does he mythologize success.
Rather than being labeled as a "teacher" or "KOL," he prefers to define himself as someone: still learning how to coexist with risk as an independent investor.

The First True Ownership of Bitcoin: The "Ritual of Entry" into the Real World

Bit Wu's entry into the industry did not stem from grand judgments, but rather from an extremely realistic coincidence.

At the end of 2016, he and his partner's startup failed, and the company was dissolved. Among the few remaining business payments, a mining client, whose bank card was frozen, proposed to pay the development fees in Bitcoin. That was the first time he truly used Bitcoin to complete a transaction.

Under the guidance of the other party, he registered an exchange account on-site, completed a deposit, and converted it into RMB. That test involved the transfer of over 800 Bitcoins.

Of course, these Bitcoins were almost immediately sold to pay salaries and settle projects. But this experience made him realize for the first time:
Bitcoin is not just a concept, but an asset that already possesses real payment capabilities.

Years later, a saying circulating in the industry resonated deeply with him: "The moment you own the most Bitcoin in your life often occurs when you first own it."

From Being Ignored, Illusions of Wealth to Two Instances of Going to Zero: Completing a Full Cycle

In October 2016, Bit Wu began systematically studying Bitcoin and blockchain, continuously producing content on Weibo and public accounts. That was a phase with almost no feedback.

For six months, his reading volume was sluggish, fan growth was slow, there were no advertisements, and no income. Savings quickly depleted, and the pressure of reality loomed. He admitted that if this state continued for another six months, he would likely be forced to exit.

The turning point occurred in the spring of 2017. The ICO wave rapidly fermented in China, and many traditional internet people began seeking "blockchain interpreters." The content he had previously accumulated was rediscovered, and in just a few months, his followers jumped from a few hundred to hundreds of thousands.

But what truly changed his fate was not just "being seen."

In 2017, the market entered a phase of extreme distortion: writing an article to request tokens from projects that had not yet been issued; after a project launched, prices skyrocketed by dozens or even hundreds of times; making money required no judgment, only participation.

This experience quickly created a dangerous path dependency—leading him to mistakenly believe that he was earning money from understanding.

After the "94" incident in 2017, the market sharply retraced. His main positions were not in Bitcoin and Ethereum, but in high-volatility projects, and his assets rapidly shrank by over 90%. Subsequent operations further reduced his assets by 97-98%.
In 2018, in an effort to "make it back," he continued the "investment" approach of 2017, ignoring a fundamental change: the incremental bubble had already ended.

That year, he encountered failures in multiple projects, including the well-known incident of being scammed out of 80 Bitcoins. He subsequently experienced a two-year stint in a detention center.

But when recalling this experience, Bit Wu did not feel it was suffering or unfair fate. He admitted that he was grateful for this experience, which provided him with many insights in mindset shaping and understanding human nature. At the same time, he marveled at how adaptable humans are.

Slow is Fast, Less is More: Relearning How to Survive and Make Money

Upon returning to the industry, Bit Wu set a seemingly "counterintuitive" principle for himself: slow down. In his view, "slow" is not conservative, but a respect for rhythm; "less" is not giving up opportunities, but a protection of attention. This methodology gradually reflected in his overall choices regarding investment, information, and writing.

In asset allocation, his structure is highly concentrated in Bitcoin and Ethereum, which together account for nearly 80%. In the subsequent cycle, his main dollar-cost averaging occurred between 2022 and 2023, concentrated in the $30,000 to $70,000 range; when Bitcoin broke through $90,000, he stopped adding to his position.

The reason for not continuing to add to his position is also very straightforward: if buying behavior starts to affect emotional judgment, then one should not buy anymore.

In information management, he proposed an insightful judgment: one cannot be too close to the industry, nor too far away.

• Too close: Immersed in information flow 24 hours a day inevitably leads to emotional reactions and losses

• Too far: Not looking for weeks may result in missing structural changes

His approach is:
Using X (Twitter) as the core information source, he manually categorizes and filters information, spending only 1-2 hours a day. (At the end of this article, he also compiled a list of recommended X and YouTube channels for everyone to learn together.)

Writing has also become part of this rhythm. It is not about influencing how many people, but about keeping himself in a state of continuous reflection.

Bit Wu, who does not self-proclaim as a KOL, does not believe that the content he writes can have any impact on others. However, a meeting with a college student last year changed his perspective. When that student took out two thick notebooks filled with dense records of his past tweets and thoughts, he realized for the first time: words may not change everyone, but they can indeed change some people. This is also one reason why he maintains a high frequency of continuous output.

Judgments on Cycles, AI, and the Future

Regarding cycles, he believes:

• The classic "Bitcoin four-year cycle" is weakening

• Pricing power is shifting towards institutions

• The future is more likely to present longer and more complex cycle structures

Regarding AI, he is not anxious about being replaced. At the current stage, AI is more like a cognitive and efficiency tool that can assist in learning, research, and judgment, but is not yet sufficient to replace real experience.

Three pieces of advice for newcomers

1. Use AI to learn about the industry, rather than following the crowd in trading

2. Learn to survive first, then consider how much money to make

3. Find your true connection point with the industry

Over a sufficiently long time dimension, making money is actually the easiest step.

Slow Judgment is the Moat of Long-Termists

Looking back at Bit Wu's decade, it is not a perfect curve, but a path repeatedly interrupted, corrected, and reconstructed.

In a highly cyclical and temptation-filled industry, what is truly scarce is never the opportunity, but the ability to maintain rhythm amidst chaos. As he quoted Churchill in his pinned post on X, do not waste any crisis; true opportunities often exist within crises.

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Bit Wu's Recommended List:

1. X: Morgan Housel, on character, probability, and long-termism in investing, the inspiration source for my "investment insight content."

2. X: Naval Ravikant, wealth × cognition × life model, learn to do "subtraction" in the crypto circle.

3. X: zachxbt, an on-chain detective, specializes in exposing crypto scams, rug pulls, and hacker traces. Essential for security and fraud prevention.

4. YouTube: Unchained, high-quality interviews that are very helpful for understanding protocols, regulations, and industry figures.

5. YouTube: Bankless, ETH & Web3 main narrative, capturing long-term structures.

6. YouTube: Lex Fridman Podcast, long-form deep conversations on AI, philosophy, life, and cognition.

7. YouTube: Farnam Street, decision-making and thinking models, becoming a "long-term investor."

Recording date for this issue: December 17, 2025
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Risk Warning

The opinions or views expressed in this column only represent the personal stance of the guest and do not represent the views of BitMart or its affiliates, nor should they be considered professional financial investment advice.
Cryptocurrency investment is highly speculative and carries significant risk of loss. Past performance, hypothetical situations, or simulated results do not represent future returns. The value of digital currencies may fluctuate, and buying, holding, or trading digital currencies may involve significant risks. Before participating in trading or holding digital currencies, please carefully assess their suitability based on your investment goals, financial situation, and risk tolerance. BitMart does not provide any investment, legal, or tax advice.