"If I had all-in, buddy, I would have made a lot of money and would have really made a fortune." Looking back now, Spencer-Dinwiddie was a little annoyed.
This NBA player, who doesn't have much fame, like most second-round shows, is on a basic salary contract and lives a precarious life. On the 2018 All-Star Weekend, Ding Weidi won the skills game. It was the brightest moment of his NBA career.
In the opening game of the new season, in the matchup with his old club Pistons, Dinwiddie played 32 minutes off the bench, contributing 23 points, 6 assists and 4 rebounds. However, the US media said that once the starting guard De Angelo Russell recovered his health, Dinwiddie's fate would be in the wind again.
Compared with the two times when he was cut by the bulls, Ding Weidi has no more panic about the future. By speculating in Bitcoin, he has made quite a bit of money. This NBA fringe man can't navigate the capital market like James, Durant and other big stars, but his business acumen has opened up a new investment path for him.
【One】
At the beginning of last season, Spencer Dinwiddie was fascinated by it. Before the game starts, in the locker room, most of the players are preparing for the upcoming game. Dinwiddie would often open an app called Coinbase. It is an APP dedicated to blockchain transactions.
Ding Weidi will stare at the curves on the app. This mysterious curve, which often shows violent fluctuations, tugging at Dinwiddie's heartstrings.
Blockchain pervades Ding Weidi's life. His teammate Trevor Booker already had a cocoon in his ear, "Frankly, I'm tired of hearing him [Spencer Dinwiddie] discuss this stuff. Every day, he would tell me what the Bitcoin market was like. ”
The volatility of the Bitcoin market has often plunged Ding Weidi into excitement. This process is exciting enough to be dizzying. When the price rises, he can relax the tense nerves a little. "Believe in the process," 76ers star Embiid's quote also applies to Dinwiddie's investment in Bitcoin.
When the bitter winter is about to end, the blockchain is completely on fire. Dinwiddie's investment in Bitcoin made him a big winner in the alliance as a whole. On an ordinary winter day, Bitcoin rose by a few thousand dollars. One day a week later, the same madness was repeated. It's crazy enough.
Bitcoin is like a magic magnet, absorbing the souls of investors. Ding Weidi was distraught. At that time, the competition was in full swing, and he had no time to be distracted.
NBA tournaments are mostly held in the evenings of US time, which is not an active period for Bitcoin trading. In the afternoon, though, he needs to watch videos in the locker room or practice shooting on the court to prepare for the evening game. This left him missing out on the best time to trade Bitcoin.
"If I'm going to close a trade and that conflicts with training time, I'll set up a very strict stop loss." He said that once the price reaches a certain point, his bitcoins are automatically traded.
He takes these automated transactions very seriously. At that time, the digital currency market had fallen into madness, and Ding Weidi had to be careful. For him, a series of numbers that scroll on the screen are not meaningless, they represent real money and silver.
【2nd】
Spencer Dinwiddie took the nearest salary in the NBA. He doesn't know if his next contract will be better than his current one. A year ago, he didn't even know if he could get his next contract in the league. At the moment, it is not difficult to get a decent contract with his performance.
Of course, Bitcoin is still a mystery for many people, especially in NBA circles. In the beginning, Ding Weidi only regarded bitcoin trading as a regular and promising stock transaction, and did not think that it was a decentralized virtual currency that was not affiliated with any country. Many players are deterred by fears that it is too risky.
Dinwiddie has been advising teammate Booker to join the big wave of blockchain. Booker owns a venture capital firm, but he chose to watch the fire from the other side, "I think it's too unstable." At the time, I really didn't know much about Bitcoin. ”
For the new thing of Bitcoin, Ding Weidi has enough curiosity and shows the courage of investors. Before Bitcoin went crazy, he had already plunged into the world of virtual currencies. There are only a handful of NBA players who share the same courage as he did. Moreover, others cannot compare with him, because they are far from Ding Weidi in the study of Bitcoin.
He is an active and thoughtful person, which is a very important reason. "Oh, bro, I have a lot of ideas. But I can't tell you because a lot of the ideas haven't been put into practice yet. Ding Weidi said.
In the NBA league, Ding Weidi is definitely a case. More and more NBA players have become business leaders, such as James, Durant, Iguodala and others. However, these people are big stars, amassing tens of millions or even hundreds of millions of dollars, and having a professional team to manage investment matters is not a big risk.
Ding Weidi is a person who single-handedly makes chestnuts in the fire. He is also very different from the digital currency investors in the NBA, who mostly invested after Bitcoin became popular.
When Ding Weidi entered the bitcoin market in 2017, he was confused, and the bitcoin market also felt confused. The 2014 second-round rookie, who experienced a cruciate ligament tear, was once eliminated by two teams, and struggled only to play in the third club. He's one of those fringe guys in the league, ready to be eliminated and lose everything.
However, the creation of people, Ding Weidi and Bitcoin took off together.
【III】
Ding Weidi, 25, was born in Los Angeles and grew up in an intellectual family. His mom Stephanie opened her own kindergarten before and was a professor at the University of Southern California for more than 20 years. His father, Malcolm, was a real estate agent who pushed some of the things outside of Dinwiddie's basketball. His younger brother Taylor is studying software engineering and has always been a top student at elite schools.
"He probably learned a lot of business smell from his parents. They were all very knowledgeable and had a very good education of Spencer and Taylor. Dinwiddie said Tad Boyle, a college coach at the University of Colorado.
Once upon a time, Spencer was also an all-A honors student, just like his younger brother Taylor. But just as the stock market began to fall after reaching its peak. "When I became addicted to basketball, my performance in school deteriorated." Spencer-Dinwiddie said.
"If he had given his all, he would have had the opportunity to be a nationally renowned student." He's a smart guy. When he left college, I used to tell him, 'If you have a career plan, you have the ability to be the general manager of an NBA team.'" He's smart enough and understands the market. This is not a quality that many people have. Tad-Boyle said.
In 2014, Bitcoin entered Dinwiddie's vision for the first time. A close friend of his who works in the financial industry recommended Bitcoin to him. At that time, Ding Weidi did not have much disposable income. In January, he tore his cruciate ligament, which caused him to slip to the second round in the summer draft. The Pistons picked him up and gave him a two-year guarantee contract, but paid less than a million per season.
In his rookie season, he played less than half of the games for the Pistons and was forced to mix in the development league. He may have a future in the NBA, or he may not have it at all, as many second-round rookies have experienced.
In this case, he was skeptical of Bitcoin. He's long tired of hearing stories of NBA player bankruptcies. These people can make much more money in the NBA than Dinwiddie expects to make. Their stories always start with unreliable friends or some suspicious investment.
The digital currency of 2014 is a strange and ridiculous thing, like a black hole. It feels like it's a great way for a 21-year-old rookie to lose everything. At a time when the price of Bitcoin was one-tenth or one-twentieth of what it is now, Dinwiddie told his friend, "Brother, no, never." I wouldn't invest. ”
In fact, at the instigation of his father, an old real estate agent, Dinwiddie devoted himself to real estate.
During his first season with the Pistons, Dinwiddie bought a house in Detroit. He plans to stay here for a long season. To afford the property, he used his future income to take out a mortgage. The real estate market is considered safer than the virtual currency market, but in reality it is also risky.
"I hope he can buy some stable funds and have a certain amount of money in the bank." After that, consider real estate or other venture capital investments. Tad Boyle, who worked as a consultant at RBC Wealth Management, said: "It's not that I don't trust him. To make venture capital, you have to be lucky enough. Especially considering that Spencer is only a second-round rookie, the cruciate ligament has also been torn. But he's a guy with a big idea. ”
After two seasons in Detroit, Dinwiddie was traded to the Bulls. In Chicago, he bought another house. But over the next four months, he was cut twice by the Bulls.
The Nets saved Dinwiddie's fate in the NBA. In 2016 he moved to Chicago. At this time, he had two properties in two other cities. The two properties did not bring him much income, and he had to rent out the house to collect rent.
On December 8 of that year, when Dinwiddie signed with the Nets, the price of Bitcoin was $775. On New Year's Day 2017, his price was close to $950. In the first week of February, its price reached $1,000. That month was good enough for Spencer-Dinwiddie. He scored 17 points in one game and 19 in the next.
In April, he secured a solid position with the Nets. At this point, the price of Bitcoin has broken through $1200.
【Wanton】
At the end of that season, Ding Weidi installed the APP. He transferred some money from the bank and went in and bought Bitcoin. Dinwiddie's fourth season in the NBA was in full bloom. At the same time, the value of the bitcoins he invested in also began to soar.
"Spencer has strong conviction and courage. I didn't invest in Bitcoin, and a lot of people just stopped and watched. Spencer is not afraid to take risks. That's something I really respect. Standing on the deck you can't catch a fish unless you throw the fish into the water. Tad-Boyle said.
When the 2017-18 season began, the price of Bitcoin reached $5,000, and in December the price doubled, quickly rising to $15,000.
Dinwiddie felt lucky and began to dabble in some of the more niche virtual currencies. He noticed a currency called Tron. "If a lot of billionaires invest or push for something, even if it doesn't have long-term success, it's okay to hold it now."
He bought some Tron coins in December. At that time, the price of Bitcoin soared, and soon Tron joined in.
This was spencer-Dinwiddie's best time, when the price of virtual currencies began to soar, and his basketball career also ushered in a highlight moment. November 2017 was the best month of his career, with more and more playing time, and he averaged 7.1 assists per game that month, a career-best.
At this stage, his performance on the pitch also affected his speech and demeanor. During the conversation, he became confident and charismatic. Occasionally, when he discussed a lucrative deal, he would lie proudly on the back of his chair, grinning, and rocking there like a native Californian.
【Wu】
His fate seems to be parallel to that of Bitcoin: after a similar take-off, hidden worries remain. Bitcoin has always been questioned, and Dinwiddie's prospects are not at ease.
In December, he sold some digital currencies. That's enough to help him recoup his costs. He chose to leave the market after a 5x promotion in Tron coin. But after Bitcoin reached its high of $19,783, the price began to dive.
"When you realize you can't find answers to some questions, you know you need to learn." Dinwiddie wanted to be able to enrich his mind. Some other NBA players are starting to do the same thing. Wilson Chandler, who works for the 76ers, even enrolled in bitcoin-related courses.
Although the digital currency has received some doubts, Ding Weidi believes that its future is bright. "Blockchain is inherently transparent. If we humans pursue transparency in transactions, we will eventually end up here. To do this, the widespread use of cryptocurrencies is needed. Ding Weidi said.
Now, because Bitcoin is not widely used. Ding Weidi needs to exchange Bitcoin for US dollars before trading, which incurs income tax.
Dinwiddie began working on Bitcoin trading. He developed the signature shoe K8IROS in partnership with a company called Project Dream and did not opt for sponsorship from big brands.
"Why should I choose Nike's $25,000 sponsorship and only get $14,000 after tax?" If we're smart enough in terms of contracts, why not make some new attempts? Ding Weidi said.
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