Blockchain technology has given rise to a new generation of pioneers—visionaries who saw potential where others saw chaos. Among them, Laomao (literally "Old Cat") stands out as one of the most influential early figures in China’s cryptocurrency space. A seasoned investor, passionate educator, and prolific writer, Laomao has played a pivotal role in shaping blockchain awareness and adoption since the industry’s infancy.
His journey from a quiet life in a government job to becoming a central figure in the crypto world is not just inspiring—it reflects the transformative power of belief, timing, and relentless curiosity.
From Bureaucracy to Bitcoin: The Early Years
Before diving into blockchain, Laomao worked at a public institution in Changzhou, Jiangsu Province. His days were predictable—tea breaks, routine meetings, and little challenge. But beneath the surface, he felt a growing emptiness. After months of introspection, he made a bold move: he left his stable job with nothing but a resignation letter and headed to Shanghai.
Like many aspiring entrepreneurs, Laomao tried his hand at e-commerce. He launched a Taobao store selling thermal underwear—an endeavor that brought little success for several years. It wasn’t until 2013, when he managed an online store for a health examination brand, that he began to see real financial stability, scaling monthly sales into the hundreds of thousands of RMB.
Then came the turning point.
The Moment That Changed Everything: Discovering Bitcoin
In March 2013, while browsing Weibo, Laomao stumbled upon a post by director Wang Xiaoshan describing his experience buying Bitcoin. Though fascinated by digital currency concepts before, Laomao hadn’t realized it was possible to purchase Bitcoin within China. Without hesitation, he invested his last 6,000 RMB to buy 20 BTC.
He later described this moment in his essay “Dark Night Journey”:
“Like a child drawn to a distant dream, I followed faint glimmers of light into an unknown night.”
This marked the beginning of his deep dive into the decentralized world. Not long after, he built "Pineapple Market", one of China’s first Bitcoin-powered e-commerce platforms using WordPress. As its founder, he gained early recognition—including an interview with Forbes and hosting a live auction at Bitcoin China’s third-anniversary event.
These small but meaningful milestones planted the seeds for what would become a major influence in the blockchain ecosystem.
Joining Forces with Li Xiaolai: The Birth of Hard Candy Capital
In 2014,邱亮 (Qiu Liang), founder of Peatio Exchange (later Yunbi Network), introduced Laomao to Li Xiaolai, one of China’s most prominent early crypto investors. Together, they formed Hard Candy Capital, combining strategic insight with operational expertise.
At the time, Peatio—founded in July 2013 in Beijing—was struggling with branding. The name “Peitiao” was hard to pronounce, and its domain (peatio.com) wasn’t memorable. Attempts like 100100.io (symbolizing 100% reserve) failed to catch on.
On September 14, 2014, shortly after joining the team, Laomao rebranded Peatio as Yunbi Network (Cloud Coin), marking a fresh start.
Back then, Yunbi was tiny—processing only a dozen trades per day. “Our customer service staff could go out for a two-hour lunch,” Laomao recalled. “When they came back, no one had even logged in.”
But under his leadership, Yunbi grew rapidly.
Pioneering Innovation: First to List Ethereum in China
Laomao’s foresight proved invaluable when Ethereum emerged. Recognizing its potential early, he pushed Yunbi to become the first Chinese exchange to list ETH—a move that positioned the platform at the forefront of the 2017 bull run.
When Ethereum surged to 2,800 RMB in 2017, his article “Behind the Madness of Ethereum” went viral—amassing over a million reads. His accurate predictions earned him respect across the community, cementing his reputation as someone who could "dance with the market."
The so-called "Yunbi Effect" became legendary: any token listed on Yunbi would often spike in value overnight. Traders eagerly awaited listings, hoping their assets would be next.
Yet regulatory winds were shifting.
The End of an Era: Yunbi Network Shuts Down
On September 15, 2017, Yunbi announced it would permanently cease all trading services by September 20. From September 18, blockchain asset deposits would halt. After 1,265 days of operation, one of China’s pioneering exchanges closed its doors—witnessing nearly four years of crypto’s turbulent rise and fall.
This decision came amid tightening regulations on cryptocurrency exchanges in China. While difficult, Laomao viewed it as inevitable—a sign that the wild west era of ICOs and decentralized trading was ending.
Building Community: Leading BCA Club
Beyond exchanges, Laomao took over leadership of the BCA Club (Bitcoin Survival Guide), originally founded by Li Xiaolai. Starting with just over 100 members—mostly former students from Li’s New Oriental teaching days—the group evolved into a trusted learning hub.
Every week, Laomao delivered market analysis and investment guidance. To encourage attendance, he handed out Ethereum红包 (red packets). “I gave 5 ETH per person,” he joked. “Back then it seemed cheap—but today? Over 10,000 RMB each!”
These sessions weren’t just educational—they fostered trust and camaraderie during uncertain times.
👉 Learn market insights that could help you navigate today’s crypto landscape like a pro.
Visionary Thoughts: Blockchain as the Future
For Laomao, Bitcoin wasn’t just about wealth—it represented freedom, decentralization, and individual sovereignty. As he delved deeper into blockchain, he began seeing patterns: a new economic paradigm emerging.
He once said:
“I can’t think of another industry that makes me feel this excited every single day.”
He believes blockchain is already here—its impact just unevenly distributed. If you think it won’t affect your life, he warns, it probably won’t… because you’ve already opted out.
Today, he sees China moving toward a post-ICO, post-exchange era—a shift filled with both loss and opportunity. For ordinary people, he reflects with quiet sadness: “A once-in-a-lifetime chance to change your financial destiny may have passed.”
But globally, innovation continues.
Core Keywords
- Blockchain pioneer
- Cryptocurrency investment
- Early Bitcoin adopter
- Ethereum listing
- Chinese crypto history
- Decentralized finance
- Market prediction
- Digital asset education
FAQs
Q: Who is Laomao in the blockchain world?
A: Laomao is a well-known Chinese cryptocurrency investor and educator, recognized for co-founding Hard Candy Capital and leading Yunbi Network—the first Chinese exchange to list Ethereum.
Q: What was Yunbi Network’s significance?
A: Yunbi was one of China’s earliest and most influential crypto exchanges. Its listing decisions often triggered price surges—a phenomenon known as the "Yunbi Effect."
Q: Why did Yunbi Network shut down?
A: It closed in 2017 due to increasing regulatory pressure on cryptocurrency exchanges in China.
Q: What is BCA Club?
A: Originally created by Li Xiaolai, BCA Club is an educational community focused on Bitcoin and blockchain investing. Laomao expanded it into a weekly market analysis platform.
Q: How did Laomao contribute to blockchain education?
A: Through his widely read blog “Cat Says” (Ma Shuo), weekly BCA Club sessions, and public speaking, he helped thousands understand crypto investing fundamentals.
Q: Is Laomao still active in crypto?
A: While less visible since Yunbi’s closure, his writings and past contributions continue influencing new generations of blockchain enthusiasts.
👉 Stay ahead with actionable insights from today’s leading crypto platforms.