截至2月20日，比特小鹿的自有比特币持仓正式归零。 这位曾经翻译比特币白皮书的"矿霸"吴忌寒，用了四个月时间，将峰值时的2233枚BTC全部换成现金。 就连本周刚挖出的新币，也全数抛售。 社区炸锅了。 有人骂他是投机者，有人说他早在BCH分叉后就不再是比特币的信徒。 比特小鹿彻底清仓不是突发奇想，而是一场蓄谋已久的"战略套现"。 复盘这条抛售线，节奏极为清晰： 2025年前三季度是"囤积期"。 策略是挖多卖少，持仓在2025年10月达到2233枚的历史峰值。 但真相，往往比信仰残酷得多。 吴忌寒不是不想囤币，是囤不起了。 一、一场蓄谋已久的撤离 2025年四季度进入"停滞期"。 策略变为挖多少卖多少，停止囤币，2025年底持仓降至2017枚。 2026年初则是"踩油门"。 短短4个月，几千枚比特币被清仓，狂揽保守估计2亿美元，实际上更多。 节奏之快、手法之绝，绝非恐慌砸盘，而是有预谋的套现走人。 必须变现的理由，就藏在比特小鹿的财报数字里。 二、财报里的真实压力 2月12日，比特小鹿发布2025年Q4及全年财报。 表面看，全年收入6.2亿美元，暴增77%。 数字漂亮，但经不起拆，背后的代价是毛利率的全面崩塌。 ...

Investment Opportunity - OKX's flash earn offers attractive annualized yields, with USDT reaching over 50%, significantly higher than the current 1% for demand deposits [1] - The strategy involves leveraging "time difference" and "capital amount" to maximize profits in the $NIGHT flash earn program [1] - The flash earn campaign features a total prize pool of 420 million $NIGHT tokens [2] - The prize pool is divided into a main pool of 400 million $NIGHT and a Christmas surprise of 20 million $NIGHT [2] - The campaign is scheduled to start at 4 PM Beijing time and will last for 48 hours [2] Operational Logic - The strategy involves seizing the initial mining opportunity [3]

Core Viewpoint - The seven associations in China have issued a risk warning prohibiting their member units from participating in virtual currency and real-world asset token issuance and trading activities within the country, following a crackdown by 13 government departments on cryptocurrency speculation [1][2]. Group 1: Regulatory Actions - Member units are explicitly forbidden from engaging in any activities related to the issuance and trading of virtual currencies and real-world asset tokens within China [1][2]. - The associations emphasize that virtual currencies are not issued by monetary authorities and do not hold the same legal status as legal tender in China [2]. - Institutions and individuals conducting exchanges between legal currency and virtual currencies, or engaging in the issuance and financing of real-world asset tokens, are deemed to be involved in illegal financial activities [2][3]. Group 2: Risks Associated with Virtual Currencies - The risk warning highlights that virtual currencies are often used for speculative trading and illegal activities such as Ponzi schemes and fraud [4]. - Specific examples of risks include the volatility of virtual currency prices, with Bitcoin experiencing significant fluctuations, such as dropping below $85,000 and then rebounding above $90,000 within a few days [4]. - The warning also identifies "air coins" like π coin as lacking substantial technological innovation and clear commercial applications, making them susceptible to fraud and market manipulation [2]. Group 3: Compliance Requirements - Financial institutions, including banks and payment service providers, must not offer any services related to the issuance and trading of virtual currencies or real-world asset tokens [3]. - Member units are required to conduct thorough customer due diligence to identify any involvement in virtual currency transactions or money laundering risks [3]. - Internet platform companies must ensure compliance by not providing marketing or technical services for virtual currency-related activities [3].

Core Viewpoint - The joint announcement by seven associations emphasizes the illegality of virtual currencies in China, warning the public against engaging in related activities and highlighting the risks associated with such investments [1][2]. Group 1: Regulatory Actions - The China Internet Finance Association and six other associations issued a risk warning regarding virtual currencies, stating they do not hold the same legal status as fiat currencies and cannot be circulated within China [1]. - The People's Bank of China has convened a meeting to coordinate efforts against virtual currency trading and has reiterated its stance on prohibiting virtual currency-related activities [1]. Group 2: Public Warnings - Member units are prohibited from participating in the issuance and trading of virtual currencies and real-world asset tokens within China, and they must not provide related services to clients [2]. - The associations urge the public to enhance their risk awareness and avoid involvement in virtual currency and real-world asset token activities, including illegal fundraising and securities issuance disguised as "mining" [2].

Core Viewpoint - The joint announcement by seven associations emphasizes that virtual currencies do not have the same legal status as fiat currencies and cannot be circulated as money within China [1][2] Group 1: Regulatory Actions - The China Internet Finance Association and six other associations have issued a risk warning against illegal activities related to virtual currencies, highlighting the need for public vigilance [1] - The People's Bank of China has convened a meeting to coordinate efforts against virtual currency trading speculation, reaffirming the prohibition of virtual currency-related activities [1] Group 2: Prohibitions and Warnings - Member units are prohibited from participating in the issuance and trading of virtual currencies and real-world asset tokens within China [2] - The associations urge member units to educate the public on the risks associated with virtual currencies and to help them identify and avoid illegal activities [2] Group 3: Public Awareness - The associations warn that virtual currencies are often used for speculative trading and fraudulent activities, advising the public to enhance their risk awareness and protect their finances [2] - Individuals are cautioned against engaging in activities related to virtual currencies and real-world asset tokens, including illegal fundraising and securities issuance disguised as "mining" [2]

Core Viewpoint - The Chinese Internet Finance Association and other regulatory bodies have issued a risk warning regarding illegal activities related to virtual currencies, highlighting the rise of speculative trading and fraudulent schemes under the guise of stablecoins and other tokens [1][2]. Group 1: Regulatory Actions - The warning is part of efforts to implement directives from the People's Bank of China and other financial regulatory authorities aimed at preventing risks associated with token issuance and virtual currency trading [1]. - Various associations, including the China Banking Association and the China Securities Association, have collaborated to issue this risk alert [1]. Group 2: Risks and Warnings - Virtual currencies are characterized by extreme price volatility and are often associated with speculative trading and illegal activities such as Ponzi schemes [2]. - The public is advised to enhance their risk awareness and avoid participating in activities related to virtual currencies and real-world asset tokens, as well as illegal fundraising under the guise of "mining" [2]. - Individuals are urged to report any suspicious activities related to virtual currencies to regulatory authorities and law enforcement [2].

Core Viewpoint - The recent surge in virtual currency-related activities has led to illegal fundraising and fraud, prompting regulatory bodies to issue warnings and guidelines to prevent such activities [1][2] Group 1: Regulatory Actions - The China Internet Finance Association and other financial regulatory bodies have issued a risk warning regarding virtual currencies and related activities [1] - Member units are prohibited from participating in the issuance and trading of virtual currencies and real-world asset tokens within China [2] - Financial institutions must conduct thorough due diligence to identify potential risks related to virtual currencies and report any suspicious activities to the relevant authorities [2] Group 2: Prohibitions on Services - Banks and payment institutions are not allowed to provide any services related to the issuance and trading of virtual currencies and real-world asset tokens [2] - Securities, fund, and futures institutions are also barred from offering services for the issuance and trading of virtual currencies and related financial products [2] - Internet platform companies must refrain from marketing or providing technical services for virtual currency-related activities and ensure compliance in information dissemination [2] Group 3: Public Awareness and Education - Member units are encouraged to conduct risk awareness campaigns to educate the public about the dangers of virtual currencies and illegal activities [2] - The emphasis is placed on helping the public discern risks and avoid illegal activities related to virtual currencies [2]

Project Overview - Bybit's new project resembles Aster's S1, offering potential earning opportunities [1] - The project involves a three-month period, referred to as "Q4TGE" [1] - Mining starts on the 6th [1] Incentive Mechanism - Team participation can increase rewards by up to 1.5X [1] - Group participation allows for a maximum of 1.5X points [1] - Commission rebates are available upon registration for APEX [1] Investment Strategy - The project is considered a "blind mining" opportunity with potential for significant gains [1] - The author emphasizes the importance of participating in this Bybit project, especially for those who missed out on Aster [1]

Cryptocurrency Project Opportunity - APEX registration is available with full commission rebates [1] - Mining starts on the 6th [1] - Bybit's own perpetual contract (perp) is launching [1] - Team formation can yield up to 1.5X points [1] - Blind mining is expected to be profitable [1] Investment Recommendation - The project is compared to Aster's S1 [1] - Missing out on Aster is a reason to consider this Bybit project [1]

Mining Operation Issues - ASTER mining operation is experiencing significant difficulties and confusion [1] - Inconsistent积分(points) multipliers (1.5X) are being applied within the same team [1] - Some accounts initially received 1.5X multipliers and points for interactions, but the multiplier disappeared and points decreased shortly after [1]