From Miner to Legend — Shenyu Maoshi's Ten Years of Ups and Downs in Crypto

The story of Fish Fish Mao Shixing is like a condensed chronicle of the crypto world. From a sophomore who first encountered Bitcoin in a library at age 21, to the founder of China’s first Bitcoin mining pool, and through the tumultuous market booms and busts, he has experienced the cycles and impermanence of the digital asset world firsthand over the past decade.

Enlightenment — How Bitcoin Changed His Life Path

In the summer of 2011, Mao Shixing, a sophomore at Beijing University of Chemical Technology, accidentally discovered Bitcoin in the library. The concept of decentralized digital currency immediately sparked his strong interest, as if opening a door to a new world. From then on, this young student began his journey into the crypto space.

To delve deeper into this emerging technology, Mao Shixing even skipped classes and spent all day on the earliest Bitcoin forums abroad. He tracked interactions between Satoshi Nakamoto and community members, witnessing a new financial ecosystem quietly taking shape. This period of accumulation laid a solid foundation for his future entrepreneurship.

Mining Entrepreneurship — The Birth and Rise of Fish Pool

In early 2012, Mao Shixing bought several graphics card mining rigs and officially entered the mining industry. Using the Bitcoin he mined himself, he accumulated about 1 million yuan in assets in a short time. But what truly changed his life was his in-depth thinking about the mining industry.

Seeing the scattered and inefficient state of mining, Mao Shixing decided to create a centralized mining platform. In 2012, China’s first Bitcoin mining pool—F2Pool (Fish Pool)—was born. This decision not only changed his destiny but also had a profound impact on the entire Chinese mining industry.

Market Baptism — The Test of Booms and Busts

2013 was a year for Bitcoin. The price soared to over $700, and Mao Shixing’s account wealth skyrocketed to hundreds of millions of yuan. It was the most dazzling moment of his life, but also the easiest to lose oneself.

But the market was unforgiving. In 2014, Bitcoin entered a long bear market, and the entire mining industry fell into hardship. Mao Shixing chose to persevere—he temporarily shut down his company in 2015 and restarted operations in 2016.

This period also recorded his warmest memories. On May 8, 2014, Mao Shixing married his girlfriend Dongdong, whom he met in the crypto space. Instead of a traditional diamond ring, he transferred 25 Bitcoins from a mined block to his wife. He specially prepared a wallet address starting with “TLoveYou” and left a message in the transaction details: “Holding your hand, growing old together. God Fish to Dongdong.” This was not only a declaration of love but also the ultimate expression of faith in digital assets.

Ethereum Era — Missed Opportunities and Possession Choices

After restarting his business in 2016, Mao Shixing entered the Ethereum mining field. By around 2017, he had accumulated nearly 100,000 ETH. However, given the market conditions at the time, he chose to sell all of them, making about 2 million yuan in profit.

This decision later was regarded by many as a “trillion-dollar mistake.” Had he held onto those 100,000 ETH until now, at current market prices, they would be worth tens of billions. But at the time, given market perceptions, the decision was reasonable—no one could accurately predict the future.

The Inspiration of Fish Fish — Ten Years of Gains and Losses in the Crypto World

Mao Shixing’s decade-long journey in the crypto space records the full process of Bitcoin and Ethereum from niche to mainstream, from concept to application. He has enjoyed the wealth brought by explosive growth, as well as experienced confusion and hardship during bear markets. Fish Fish’s story tells later generations: in this world full of opportunities and risks, faith and luck are equally important. The choices made at critical moments often determine a person’s life trajectory. For Mao Shixing himself, founding F2Pool and promoting the development of China’s mining industry have long surpassed personal wealth in significance.