The King of the Bear-club lost all his Bitcoins in the end!

In the early days of Altcoins, I met a Romanian litecoin-miner who went under the nickname "Ashdrake", I remember he called me up on skype and showed me his mining-rig that he had built himself out of a wooden frame and a bunch of cards. Ashdrake had the philosophy that all he needed to do was mine and dump, rinse and repeat - and it worked as long as the difficulty stayed within the profitability for his rig.

However, it did not take very long until he became part of a group of pump & dumpers on a private IRC-server surrounded with a group of very negative people who had a bearish attitude to all things crypto.

I used to idle in there under a different nickname, since I´m hoarding information from everywhere and not always as myself, I got a good overview of who was who and who they really was.

About a year later, I met Ashdrake again, on a voice-chat for Bitcoin-traders, he was happy because he had made so many bitcoins over the years, and his attitude was extremely one-sided, saying things like "Bitcoin will go to ZERO dollar" or "Bitcoin has no real value" - stuff like that.

What amused me about the Ashdrake character however, was that there was a lot of like-mined people in that room, and since everybody listened to Ashdrake, I decided that it was time to step in and save Bitcoin from people like him.

So I made a song, called "King of the Bears", where I made "Lord Ashdrake" the main character which in turn would create a lot of buzz around his name and boost his ego, making him think that he was somewhat immune to losing, while at the same time I released a whole series of entertainment that would make people think positive about Bitcoin again:

So, when Bitcoin started going up in price from $200 - $300, he would be shorting every $10 dollar we went up, and he just had enough liquidity to stay alive on the first run.

On the next bullrun however, he did the same strategy again, but this time Bitcoin went up significantly higher in price - and Ashdrake lost all his Bitcoins in the process - he was so poor that he went into private messages with everybody asking if they would borrow him some bitcoins - which nobody would do, so he had to go get a day-job.

The last tweet I saw from Ashdrake was a recent one - he was no so rekt from trading against Bitcoin that he had no more money left to play with :)

So the moral of this story is very simple - Don´t bet against Bitcoin.