Brother 480,000: A Cautionary Tale in the Currency

This is a name that cannot be avoided in the currency circle. The name "Brother 480,000" comes from the fact that he used the 480,000 savings from buying a house to buy 100 Bitcoins and started live broadcasting on Baidu Bitcoin Post Bar on January 28, 2014.

But bad luck meant that this live broadcast came at the wrong time. Subsequent negative policies and the collapse of currency prices caused his assets to shrink rapidly, falling to only 90,000.

The cynicism on the forum and the lack of understanding from his family made Brother 480,000 even worse. "Fighting with my mother-in-law and threatening to divorce my wife" gradually became the theme of his live broadcast.

In early 2016, when Bitcoin rebounded to 3,000 yuan, Brother 480,000 replied to readers, "Throw money to buy a house." The man who once counted on using Bitcoin to pay for a house and a new car in full left the market with a loss of 180,000 yuan, ultimately missing out on a crazy year.

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