Block out the noise, focus on growth.

Guests:

Jiayi: Founder of GEEKcartel

Uh-huh: Binance "Prince"

The following is the dialogue content:

Uh-huh: Hello, everyone, I am Uh-huh, and this is Jiayi next to me. It seems we ran into each other at an event last time at the Thailand Blockchain Association.

Jiayi: Did we run into each other at an event? I remember it was at KTV…

Uh-huh: …It seems so, (we were) singing together at that time.

Jiayi: Right, you have to tell the truth… (first we sang) then we could run into each other…

Uh-huh: It’s been a year since we last met, and Jiayi hasn’t changed much.

Jiayi: Really? No changes?

Uh-huh: Your spirit has improved!

Jiayi: I haven’t aged, right?

Uh-huh: No, no, hahaha~ (full of survival instinct)

Jiayi: Alright, alright, haha. But I feel that during this year, when I saw you a year ago, it seemed like you were still like a little bee, searching for opportunities everywhere, trying to gather nectar, and now you are already the "Prince of Binance," right?

Uh-huh: I was quite confused before, without a big direction, just trying to find opportunities in the crypto space, seeing how to survive, and I also changed jobs two or three times in about a year…

Jiayi: Was it because you couldn’t continue, or was it that the job itself didn’t suit you? You can’t work for others for a lifetime.

Uh-huh: When you have no money, you definitely have to work. It mainly depends on what the market needs at the moment, and then look for what kind of job, thinking about whether I can find a quality project, to find the next opportunity.

Jiayi: So have you found it now?

Uh-huh: I think there are many opportunities in BNBCHAIN, so I’m looking for opportunities there.

Jiayi: How much have you earned?

Uh-huh: Oh, can I say this?

Jiayi: Why can’t you say how much you earned? Can you describe it roughly? You must be financially free.

Uh-huh: For me, it’s probably enough for this stage.

Jiayi: Are you satisfied?

Uh-huh: Yes, I am definitely satisfied, because what I pursue more is that kind of spiritual abundance.

Jiayi: Spiritual abundance? What does that mean?

Uh-huh: For example, achieving something brings a great sense of accomplishment, I feel that this feeling is more fulfilling than earning more money.

Jiayi: You were born in 2005, right?

Uh-huh: Yes.

Jiayi: Born in 2005, you are 17 years younger than me… and you are financially free… Is it lonely? Empty? Fearful? Scared? (a series of rapid-fire questions)

Uh-huh: Actually, I still feel quite anxious, because I’m afraid that if I lose my way at a young age, I won’t be able to come back.

Jiayi: How do you lose your way?

Uh-huh: There are many stories online, like those who earn a lot of money in their twenties, then get carried away and do things like gambling, and then that money is gone.

Jiayi: You didn’t do that before… Hahaha… because I can’t shake off the shadow of KTV.

Uh-huh: Well, before, I was young and hadn’t experienced these things, and secondly, if a stranger invited me to dinner, I just didn’t know how to refuse. For example, if someone invited me to do something, I would basically go, even if sometimes I didn’t want to go, but I felt embarrassed to refuse. At that time, I thought I was young, and if an elder invited me to dinner or to go out, I just didn’t know how to refuse, thinking it wouldn’t be good to turn them down.

Jiayi: For example, at my age, if I invite you, you wouldn’t know how to refuse?

Uh-huh: No, now I would refuse some people. If it’s a place I don’t want to go, I would just tell them, no, I don’t want to go. For example, with someone like Jiayi, who can help me grow intellectually, I would go.

Jiayi: The point you just made really touched me, about how to define financial freedom. Because everyone has a different threshold, many friends are wealthy, right? But they still can’t say no. So I think the most important thing is that your money allows you to do what you want to do, and you have the freedom to refuse others, right? Having that space to choose is a particularly good thing.

Uh-huh: Yes, because I feel that for me right now, my money is enough for my daily expenses, and I don’t have any big expenditures usually.

Jiayi: You don’t have big expenditures? Haven’t you bought anything big? Didn’t you buy anything big after making money in the crypto space?

Uh-huh: I bought something.

Jiayi: Thank you, CRYPTO? BMW? (THANK YOU, CRYPTO)

Uh-huh: Haha, that hasn’t happened yet, maybe I hope it will happen in the future, thanks to BNB.

Jiayi: What’s the biggest amount of money you spent after making money?

Uh-huh: Actually, the biggest amount I spent was on my dad. I bought him a car, a new off-road vehicle that he likes.

Jiayi: How much was the car? Hundreds of thousands?

Uh-huh: About that, yes.

Jiayi: You’re quite frugal.

Uh-huh: About three to four hundred thousand, maybe a little over forty.

Jiayi: Compared to the money you earned, buying something over forty is indeed quite filial, relatively speaking, hahaha.

Uh-huh: Jiayi, I often follow your Twitter, and it seems like your status is like a retirement state after financial freedom, drinking tea every day. Can you share your financial status with us?

Jiayi: Financial status. Yes, still the same sentence, how do you define financial freedom? I think I have defined it in my heart. Yes, I am financially free, but the core of financial freedom is how much desire you have in your heart. In fact, it’s a saying from a sister. I was anxious before, but my anxiety wasn’t about how much others earned. Because I personally feel that many who suddenly earn a lot of money are using short-term money, and whether they can sustain it, who can laugh for a long time, that’s uncertain, right? I don’t envy those things, but I do feel anxious when others achieve great results, and it seems that my achievements aren’t as good. In fact, I also feel anxious. A sister just said one thing, which is that you shouldn’t compare yourself in the crypto space. Overall, reflect on what kind of state you are in this world now.

Uh-huh: At first, I was also very anxious, feeling that I was growing quickly every year, but relatively speaking, it still felt far away compared to others. But I often look back at some of my classmates, and maybe they are content with a living expense of two or three thousand a month. Then I think I might not need to be so anxious. Yes, like when I wrote in 2022, I hoped to earn 300 dollars a month.

Jiayi: Yes, so for some people, if you give them ten thousand a month, in their heart, they feel financially free. So for me, the state of financial freedom is about how to better please myself from the inside, to make my heart feel more stable and secure. But there’s still competition, and the competition lies in what? It means you have to keep learning, right? And do every task as well as possible. There’s no so-called passing line for me; as long as you promise to do something, then do it as well as you can. I strictly require myself in everything. For example, in a PR draft, I will proofread a word for a long time. Because it’s not the most perfect state in my heart. These are all parts I choose. But on the other hand, without noise, I can’t hear any noise. Now my social interactions are extremely few, and there’s no noise at all. I just need to do my own things well.

Uh-huh: Yes, I think the premise is still to have a direction for your efforts. Because now you already know what you want to do, so you can block out other unnecessary external voices and just focus on this area.

Jiayi: Not feeling anxious comes from having confidence that you are continuously valuable in the market, not how much money you currently have that makes you valuable. You have many early project chips, and you can aim accurately. Then soon, that project will have a good result. Many people say you are engaging in insider trading; have you engaged in insider trading? Because I feel your performance looks quite like insider trading.

Uh-huh: In fact, the insider trading is zero, but I was lucky, just happened to hit the right spots.

Jiayi: I don’t believe you just rely on luck; you must have some paths to discover these projects.

Uh-huh: Yes, like when I was in TRUMP, we didn’t make much money, probably less than 200,000 dollars, but we lost back a large part. When I entered TRUMP, my entry price was very late; I entered at around 7 to 14 dollars. From the outside, it might seem like it had peaked, but I thought this was my entry timing because it was just starting to FOMO, that’s how I viewed it. For example, for the Trump wife’s coin, I monitored it and saw it at 2U, then told my friend to buy at 3U. We finally sold it at 12U because I noticed that at 12U, Trump was around 67U, and Wintermute released a notice that OTC trading could start, so I judged that as a high point to sell.

Jiayi: So you actually sold at a very good timing.

Uh-huh: Yes, I bought at a good time and sold at a good time too.

Jiayi: Those major coins definitely won’t have insider trading opportunities, right? You need to focus on the key points. There are so many projects in the BNB ecosystem; it seems you hit them quite accurately.

Uh-huh: I understand, I know this question. For example, with TST, I actually bought at the same time as everyone else, just over a minute after CZ tweeted, I bought. My first transaction was at three o'clock.

Jiayi: The Binance Prince doesn’t seem to have much use.

Uh-huh: It’s not useful at all; I’m slower than everyone else in getting information. I’m one of those who reacts slowly. But I have a characteristic, which is that I can hold on. For example, I bought this coin a minute later; many people might have already bought it at 3 million or a few hundred thousand. But after I bought it, that night it dropped to 8 million dollars, meaning I lost 70%.

Jiayi: Did you cut your losses?

Uh-huh: I didn’t cut my losses; I just slept peacefully.

Jiayi: You can sleep peacefully.

Uh-huh: Yes, I slept peacefully. Then the next morning, I woke up and found it had come back a bit, and I started to slowly look at the trend. I would be interested in this project, and because of this project, I became interested in Binance. I would pay attention to its entire ecosystem, like Binance itself, and at that time, BNHCHAIN didn’t exist yet. There was the Binance wallet, but it was still under criticism or hadn’t been developed yet. I was also paying attention to FOURMEME because FOURMEME was their launchpad. I would keep an eye on FOURMEME’s actions, monitoring them. After watching, I found that FOURMEME issued a burn announcement, meaning they would burn the tokens held by FOURMEME. I thought that since CZ retweeted it and the launchpad was burning tokens, it showed they were quite confident in doing this. Then I added a position there, and that was 30 million. So after I bought it, I was stuck for two days, and then I decided to take another shot, and it reached a market value of 30 million. But when it reached 30 million, it didn’t move much, and it wasn’t until the last day that it surged to an 80 million dollar market value. At that time, I might have just made a little profit, but since I bought relatively little, the profit wasn’t significant. Then I went to Yonghe Palace in the morning, came out at noon, and went to Binance in the afternoon. That’s called being lucky.

Jiayi: Luck is quite important. You have good luck, and then you pray, and that adds a buff.

Jiayi: Can I ask a sharper question?

Uh-huh: Sure, sure, sure.

Jiayi: It feels like your success today is partly due to flattery, right? And partly due to your own strength in investing, and how much of it is just good luck?

Uh-huh: Actually, I feel that in these waves, my luck can be said to surpass 80% to 90% of people; this must be acknowledged. And I can’t say it’s flattery; I can only say it’s learning from their thinking, which is a different perspective. For example, from Brother Sun, I can see how to block out external noise and focus on doing things. Because at the beginning, I was troubled by some noise, maybe tossing and turning, unable to sleep or eat. But later, I carefully looked at Brother Sun’s matters and found that I could also learn to block out the outside world.

Jiayi: Look at how he handles being criticized more severely.

Uh-huh: Yes, just to benchmark, for example, I often see the duality of things. For instance, Brother Sun blocked out the noise, and he was able to reach such heights. Some people might not be able to block out so much noise; they might fall from here to there and never return. I think I’m still young, and I need to keep pushing forward; I can’t let a small stone trip me up.

Jiayi: Did you deliberately think it through first, that you wanted to gain traffic? Did you intentionally seek out a few of the most prominent Chinese in the industry to flatter them, or was it out of some other thought at that time?

Uh-huh: This wasn’t intentional; I can only say it came from the heart. Because when I first heard about Brother Sun, I didn’t even know about Bitcoin. At that time, I saw an article that wrote negatively about him…

Jiayi: I thought Brother Sun was amazing. And you didn’t even know about Bitcoin… and it turned out to be because of the negative article.

Uh-huh: Yes, I learned about him because of the negative article. From it, I saw his sensitivity to business and his decisiveness in doing things. For example, he could refund other projects in the U.S. on the same day of the ICO; I learned about this strong execution ability.

Jiayi: Because everyone sees things from different angles, others see it as gossip or a negative article, while you see it as his reaction to things and why he is worth participating in.

Uh-huh: Yes, yes, yes.

Jiayi: And what about Binance, flattering Binance?

Uh-huh: Actually, flattering Binance can’t be called flattery. In 2023, I actually had a situation similar to a spat with a sister, where she didn’t scold me, but I might have…

Jiayi: You purely scolded the sister.

Uh-huh: Yes, that’s about the gist of it.

Jiayi: But it’s okay; she doesn’t care.

Uh-huh: I might have been playing with the price difference for the first time, where the spot and contract prices were very different. I ended up getting liquidated, losing 400U, but at that time, 400U was a lot for me. I didn’t understand the game rules, so I asked customer service, and they told me a bunch of professional terms that I completely didn’t understand. Then I looked for others, but no one replied. I didn’t know where to find the sister’s TG, so I DM’d her, saying Binance maliciously took my money.

Jiayi: Did the sister reply?

Uh-huh: The sister really replied, and she patiently explained to me for 20 minutes, using plain language instead of professional jargon. She explained how the spot price and contract price are pegged, how the liquidation rules work, and she explained a whole bunch of things in a way that everyone could understand. After about 20 minutes, she explained it to me, and I realized I misunderstood Binance. I’m sorry for wasting your time. So I initially went in angrily, but in the end, I was really convinced by Binance; yes, I really turned from black to pink.

Uh-huh: Jiayi, can you talk about your feelings working with some industry leaders before?

Jiayi: Of course, the feelings are all very good; there’s nothing bad. I think because when I entered, whether it was Pionex, it was actually quite early, right? But after Brother Sun acquired it, it still felt like a startup state. Then at Binance, it was also quite early, just a process of growth.

Uh-huh: It’s equivalent to the process from 0 to 1.

Jiayi: For me personally, I feel it’s also my own process from 0 to 1. My first job was at Binance, and I felt like I was living in a daze before. I had the desire to do things; it’s impossible to work for others for a lifetime, which might be similar to your current state. But it was completely a wild path; I was figuring out how to do things on my own. But after experiencing Binance’s 0 to 1, right? At that time, I was in the market team, actually doing various tasks.

Uh-huh: Since you’ve worked beside them, I want to ask a sharper question: can you comment on some shortcomings? Or say what are the genuinely bad aspects?

Jiayi: You want me to quit the industry, right?

Uh-huh: Not to that extent; it can be a critique. What do you think are the shortcomings? Can you help us understand better? Let me take a sip of water (preparing to eat melon).

Jiayi: OK, when I was at Binance, I mainly worked with He Yi, and I felt she was overly strict and harsh with me. If the results were similar to others, or if you did well, she thought it was normal, and you should do it well; the expectations were different, right? But if you didn’t do something quite well, I personally felt it was a bit magnified. There was no need to be so strict with me; I’m also a baby, and I hope she can praise me; just one compliment can make me happy for several days. But it’s very rare; He Yi is a super coach-like person, so in my heart, she is more about discovering potential.

Uh-huh: I remember that the sister also mentioned in Dubai that she hopes Binance can have 10 He Yis and 100 He Yis. That way, she wouldn’t have to work so much on the front lines and could communicate with these “He Yis.”

Jiayi: Yes, I feel one more thing is that I can ensure what she thinks is what she expresses.

Uh-huh: It seems we’ve talked a bit too much; let’s return to the topic. Now, the sister is a coach-like leader; what about CZ and Brother Sun? What kind of leaders are they?

Jiayi: I think CZ is a bit of a flatterer, but in my heart, he’s somewhat mythologized. In a work state, I can’t see his emotions; he’s always balancing pros and cons. How to do it is what he thinks is the best solution. Another characteristic I feel is quite rare; I’ll give an example. When I was at Binance, he would see what characteristics I had and ask, “OK, what do you want to do? What do you want to do at Binance? What are your current abilities? For example, if you’re good at a certain area, doing these types of things is not challenging, right? But if you want to rise, what do you want to do?” At Binance, as long as you have an idea, for example, “We can do this kind of business,” they would listen very patiently to these things. If it’s reliable, he would support it.

Uh-huh: He respects personal opinions.

Jiayi: Yes, and there’s something called a stop-loss space. How long do you think it will take to achieve something? Let’s give it a try. If it doesn’t work, then it might not be. So it’s a state of respecting others but being extremely restrained and rational. Brother Sun is more like a leader who wants to do something; he wants to do something, and then the people below execute it, and he comes to see the results.

Uh-huh: Jiayi, can you share your values (regarding employees)?

Jiayi: My value is that when you come to my team, we shouldn’t waste each other’s lives or time. If you’re not suitable, it might not be because you’re bad; if you’re not suitable for the team, then you should leave quickly. But if you stay, we are in a very suitable state. So I require my team to have extremely high growth potential.

Uh-huh: What do you think the spirit of Crypto is like?

Jiayi: I feel the core of Crypto is to see what value each person has. And whether the boss of each company has the ability to discover your value. You see, my academic background isn’t good; if I go to another company, I feel the interview might have problems. But for Crypto, I feel it’s just right because I have my own strengths.

Uh-huh: I feel the same way; when I first started, my first job didn’t even look at resumes; I just did things for that boss. After getting familiar, I asked if they needed more people, and I thought I could give it a try. Then he let me join, and I stayed there for about half a year.

Jiayi: In my team, there are many who actually come from prestigious schools. But when they first join, they might feel, for example, that they have no experience and can't do anything, so they might propose to work for free, saying, "Look at my progress for a month; if you don’t want me after a month, I’ll leave. If you want me after a month, then we can renegotiate my value and pricing." I really admire such young people.

Uh-huh: I have a question: is this brought about by the emerging industry, or is the crypto space just this open?

Jiayi: From a market perspective, I firmly believe that the type of early users of a project will determine the basic composition ratio of the group as it evolves.

Uh-huh: I feel that the current market gives young people the biggest opportunity. For example, my most intuitive feeling is that if I were in a traditional industry, I might only be able to go from intern to intern to intern until I graduate from university.

Jiayi: … wasting your life.

Uh-huh: Yes, yes, yes, but I feel that in the crypto space, it’s different; I don’t have to go to university. I can just continue to work hard.

Jiayi: Right, going back to the earlier question, when I worked at Binance and Pionex, I actually felt that the culture between companies is different. For example, in the early days, Binance was composed of many excellent individuals from various industries who were willing to take pay cuts just to witness a common goal, wanting to see how the word "Exchange" could change everything through crypto.

Uh-huh: Suffocating for dreams…

Jiayi: Yes, everyone was in that state, but the earliest core employees were all in that state; there were hundreds of people like that. As it evolved, the corporate culture was still quite good.

Uh-huh: Jiayi, can you share your views on newcomers entering the space?

Jiayi: I think some values I see might not be visible to you. Let me share something: recently, there were some very young people, possibly born in the 2000s, who might still be in university. They would ask me if they had a chance because your industry has developed for so long, right? And there are many things I don’t know; do I have a chance? It’s a simple thing: first, you need to download Twitter. After downloading, because I’m a lazy person, I don’t want to spend a lot of time explaining how you should do things, right? There aren’t that many suggestions. The second thing I would do is send you the Twitter of this guy (Uh-huh); I say this guy was born in 2005, go check out his Twitter. I say at the very least, he’s financially free now. After they look at it, I’ll give them a pep talk saying everyone has a chance. So they learn and research on their own.

Uh-huh: Yes, Twitter is a good point. I have a friend who just entered the space and also wanted to ask me how to do it, so I sent him the Twitter accounts of CZ, the sister, Brother Sun, and those involved in the Trump project. I told him this is the big direction; study it well.

Jiayi: In the future, just tell him to follow me, look at my experiences, and then follow everyone I follow.

Uh-huh: Yes, I think that’s still a point. Because just like the employee I recommended to you, I previously wrote an article about him, saying his execution ability is also very strong, so I’ve always recognized him. I also sent my friend the article I wrote about his experiences, but my friend would cheat and use AI to summarize it; he wouldn’t really see some of the points in it, which I think makes him less suitable.

Jiayi: Yes, it requires thinking.

Uh-huh: Because in this space, having independent thinking ability is quite important. If you rely entirely on others to lead you, you won’t go far. If you rely on others, you’re just imitating; you’re just executing someone else’s actions.

Jiayi: Yes, in reality, if you keep thinking, you can summarize and grow; that’s how it is. In our industry, there are many people who just say, "Tell me what information you have, and I’ll buy it," right? If I haven’t done any research, you don’t know how you made money, and you don’t know how you lost money; then you’re in that state, and in the end, you will definitely fall behind by a large margin.

Uh-huh: Yes, so this will definitely lead to severe losses. I’ve seen several cases where I saw several people posting on Twitter about various insider trades and ended up losing a lot.

Jiayi: As for insider trading, I don’t believe in it; at least I can’t get any insider information.

Uh-huh: I believe that any insider information that reaches me is already common knowledge.

Jiayi: Why would someone share real insider information with others? Right? To put it bluntly, I feel that people tend to blindly follow some so-called information streams or maliciously speculate about some projects. But the most basic thing is to use your brain to judge.

Uh-huh: Everyone now believes in a single law, which is to say that he made money because he was involved in insider trading. He was just lucky…

Jiayi: Yes, he must have done something…

Uh-huh: Yes, but Brother Sun has said that we should look at things from multiple perspectives, not just from a single angle. I think that makes a lot of sense.

Jiayi: As a young generation of traders or those who want to become KOLs to gain traffic, do you have anything you want to share with these people?

Uh-huh: Actually, I think the points for sharing are quite interesting. First, you have to believe in the future of the crypto space; that’s fundamental. Before you make a lot of money, you must buy Bitcoin or BNB or other fixed assets; don’t gamble randomly on contracts or do DeFi without a certain understanding. The third point is that you must stick to the track you choose. For example, I feel that BNBCHAIN is very promising, so I will stick with it. It’s not just for flattery; it’s because I genuinely believe it can develop. You have to believe in the track you choose from the heart; that’s the way to go. Choose your track and keep working hard.

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