# A Decade-Long Bitcoin Journey of Guo Hongcai: The Evolution of a Cryptocurrency Faithful

In the history of the cryptocurrency world, few individuals’ experiences can match Guo Hongcai’s, who has witnessed and personally participated in the entire process from Bitcoin enlightenment to multiple bull and bear cycles. This Shanxi native entrepreneur, nicknamed “Bao Er Ye,” has spent twenty years persevering through trial and error, painting a typical portrait of a crypto participant.

Guo Hongcai was born in 1983 in Pingyao, Shanxi. His college entrance exam results fell far below expectations, but after failing to get into Tsinghua University, he persisted northward, renting a place in Zhaolan Courtyard within Tsinghua Garden. There, he attended classes as an auditor while contemplating entrepreneurship. This experience laid the foundation for his mindset when facing setbacks—not letting grades define him, nor letting failure scare him.

From Tsinghua Auditing to Bitcoin Deployment

Guo Hongcai’s entry into the crypto world was sparked by the 2013 Garage Coffee gathering. At a time when blockchain was not yet mainstream, a speaker later dubbed the “Master of Pyramid Schemes”—Li Xiaolai—delivered a blockchain sharing session that opened a new world for entrepreneurs at Garage Coffee. This talk also caught Guo Hongcai’s attention and became a key trigger for his formal entry into the crypto space.

In 2014, Guo Hongcai decided to heavily invest during Bitcoin’s downtrend. His keen intuition and courage led him to invest in what was then the largest Bitcoin mining farm. According to costs at the time, the electricity expense to mine one Bitcoin was about 5,000 yuan. The farm’s annual output reached hundreds of Bitcoins, generating substantial income at that time.

Holding Steady and Learning During the Bear Market

However, the golden age of mining didn’t last long. In 2015, the crypto market entered a downturn, with many participants suffering asset devaluation and choosing to exit. Yet, Guo Hongcai maintained rare resilience during this low period. Instead of being discouraged by market coldness, he used his free time to watch English movies and learn languages, expanding his international perspective.

This persistence paid off unexpectedly in 2016 when Guo Hongcai was invited to attend the Davos Forum. At this global gathering of elites, he dressed simply in a T-shirt and slippers, speaking fluent English to finance professionals dressed in suits, explaining concepts like Bitcoin, blockchain, and fintech—still distant at the time. This cross-sector speech not only demonstrated his deep understanding of the industry but also established a new international image for the crypto community.

Live Streaming Faith and Regulatory Challenges

2017 marked a turning point in Guo Hongcai’s career. As the market rebounded, his live broadcast with tens of thousands of viewers became a hot internet event. During the stream, he systematically reviewed Bitcoin’s recent development trajectory and re-explained his understanding of this asset to fans, many of whom found renewed faith in crypto assets. The gifts received during the broadcast were valued at tens of thousands of yuan.

But behind the hype came challenges. In September 2017, China implemented regulatory policies on September 4th. Guo Hongcai proactively launched the “China Tour” campaign to convey correct investment concepts and market awareness to investors, reflecting his sense of responsibility for the healthy development of the market.

The 2018 Cycle Trial

2018 was a painful year for crypto participants. Although the market experienced fluctuations in the first half, numerous incidents occurred; by the second half, the market plunged continuously, many prominent figures’ images collapsed, projects exited, and investors suffered losses. Guo Hongcai was not immune. A candid video he shared after drinking went viral, in which he openly admitted that during repeated bottom-fishing, his original 600 Bitcoins had shrunk to only 200, with assets greatly reduced. His honesty earned respect—within a circle often filled with false narratives, genuine experiences are more convincing.

New Explorations After Multiple Cycles

After experiencing several complete bull and bear cycles from 2013 to 2020, Guo Hongcai gradually shifted his investment and research focus. He no longer limited himself to a single asset but began exploring a broader crypto ecosystem, including Ethereum. His adaptability and learning ability may be the core reasons he has survived and thrived in the volatile crypto world.

From a curious Tsinghua auditor to a miner, witness to regulation, cycle participant, and multiple trial-and-error practitioner, Guo Hongcai’s ten-year story encapsulates the development of the entire crypto industry. He exemplifies what “long-termism” means—not just holding assets for a long time, but continuously investing in learning, adapting, and reflecting.