Shen Yu Mao Shixing: A Decade of Ups and Downs from Bitcoin Youth to Crypto Godfather

Among the legends in the crypto world, the story of God Fish Mao Shiying is the most dramatic. From a 21-year-old student at Beijing University of Chemical Technology who first discovered Bitcoin, to a 23-year-old with a net worth of hundreds of millions, to losing everything overnight at 25, and missing billions at 26—he has experienced life’s twists and turns over ten years that most people can hardly imagine. God Fish not only witnessed the development of digital currencies but also deeply experienced the intertwined nature of greed and fear in the market.

The Young Genius Who First Discovered Bitcoin

In the summer of 2011, 21-year-old Mao Shiying was just an ordinary sophomore. By chance in the library, he discovered Bitcoin, a decentralized digital currency. This discovery completely changed his life trajectory. To deeply understand Satoshi Nakamoto and his team’s creation of a new world, Mao Shiying didn’t hesitate to skip classes, spending every day on the earliest Bitcoin forums abroad, greedily absorbing every bit of knowledge.

At that time, Bitcoin was still a highly controversial and little-known concept. However, Mao Shiying’s sharp insight saw the revolutionary significance behind it. He decided not to be a bystander but to actively participate in this technological revolution.

Pioneer in Building China’s First Mining Pool

In early 2012, Mao Shiying bought a few graphics card mining rigs, officially starting his mining career. This was not just a technical experiment but a precise timing move. Through mining, he accumulated digital assets and earned his first 1 million yuan. More importantly, he was not satisfied with personal gains alone; he keenly saw industry opportunities.

In 2012, Mao Shiying founded China’s first Bitcoin mining pool—F2Pool, later affectionately called “Fish Pool.” This innovation changed the entire mining ecosystem, allowing retail miners to participate by pooling their resources. God Fish thus established himself as a pioneer in the crypto circle.

The 2013 Surge and the Turning Point in 2014

In 2013, Bitcoin’s market reached a historic milestone—its price soared above $700. Mao Shiying’s account also skyrocketed to hundreds of millions. During this jubilant time, he made a seemingly romantic but highly symbolic decision.

On May 8, 2014, Mao Shiying married his beloved whom he met in the crypto world. Unlike traditional rings and weddings, he expressed his love in a very special way—transferring 25 Bitcoins from a mined block to his wife, and leaving a message in the transaction details: “Holding your hand, growing old together. God Fish dedicates to Dongdong.” At that moment, Bitcoin became a witness of love.

However, after the romance, reality was cruel. That same year, Bitcoin entered a long bear market cycle, and the mining industry faced huge shocks. God Fish was forced to shut down his company, enduring the market’s ruthless test.

Regrets and Lessons in the Ethereum Era

After the downturn in 2015, Bitcoin’s market began a slow recovery in 2016. With a keen sense of opportunity, Mao Shiying restarted his career, this time focusing on the emerging Ethereum ecosystem, joining an Ethereum mining pool.

During that period, Mao Shiying accumulated nearly 100,000 ETH. At a certain market moment, he chose to sell all, making about 2 million yuan in profit. Had he held on until today, that asset would have already grown to nearly 2 billion yuan. This decision became his biggest regret in his career and a common dilemma faced by countless investors in the crypto world—when to hold, when to sell in a volatile market.

God Fish Mao Shiying’s ten-year journey is not only a story of personal success and failure but also a microcosm of the entire crypto industry’s development. He experienced extreme prosperity and decline, witnessing human nature’s fragility and greed in the face of wealth. From a talented young man entering the industry to a legendary figure today, God Fish has driven the progress of China’s mining industry with his own efforts, while also learning the most valuable lesson in market cycles: between infinite possibilities and endless regrets, maintaining clear judgment is key.