About

Leave professional matters to professionals.

The Onchain Diary isn’t a professional take on blockchain—just as I wrote in the preface, I’d rather read it from the perspective of a blockchain beginner. We are all beginners, including you and me.

Blockchain is a dark forest; no one can truly decipher what happens on-chain. The anonymity of on-chain ledgers makes it nearly impossible for ordinary people to uncover meaningful signals—yet its transparency always leaves traces. Take the massive crash on October 11: $16.6 billion in long positions liquidated in hours, the bloodiest slaughter in crypto history.

Bitcoin’s price showed no defense that day, plummeting like a waterfall. If you weren’t glued to the charts, the whales told the story anyway: a Hyperliquid whale opened a short position instantly and pocketed $190 million.

Without tools, we can’t act on on-chain data faster than the market. Even with professional tools, success is never guaranteed.

That’s the surrealism of blockchain: one moment you’re clinking glasses with friends; the next, your portfolio evaporates.

Money doesn’t vanish—it flows. Most of it ends up in exchange coffers; a sliver scatters into others’ wallets.

The Onchain Diary won’t teach you to get rich quick with derivatives. Quite the opposite: I’ll show you how derivatives bankrupt you. I won’t share my trades or shill “high-end narratives.” That’s not what this diary is for—that’s what scammers do.

Blockchain evolves daily. I won’t pretend to master every new tech, and this diary won’t chase trends. My words are not investment advice. I bear no responsibility for your actions.

This industry is dangerous—rife with insider trading, hackers, and grifters. Danger enables overnight riches, but ask yourself:

Do you have the luck to get rich overnight? Do you have the knowledge to protect what you gain? Do you have the courage to lose everything? I don’t encourage newcomers to go on-chain. Buy tokens on CEXs if you must—but never move them on-chain just because family or friends say so. I’ve seen too many lose everything for not knowing hot vs. cold wallets… or even what a wallet is.

Without deep knowledge: stay off on-chain transactions.

This diary won’t be “in-depth.” It’s just a diary.

Behind this industry’s glamour lie countless skeletons.

No key, no money.

—— Editor’s Note · October 13, 2025