Today it’s raining and the traffic is a bit jammed, the coffee I bought has been bouncing around in the car all the way and has cooled down… Suddenly I thought of those “pools” in chain games, which are actually quite similar: the initial output is very attractive, everyone chews on it like snacks and can’t stop, but once inflation kicks in, rewards are released like tap water, demand can’t keep up, and when the coin price softens, people in the pool start to retreat in a stampede-like manner. To put it simply, it’s not that I don’t want to play, but the batch of new tokens issued every day is simply not being absorbed, becoming more and more虚 (virtual/illusory).

Now when I see “high yield + continuous new user acquisition,” I have a conditioned reflex—prefer to slowly earn the small interest from stablecoins rather than be the last worker to take the bag. By the way, recently there’s a lot of noise about privacy coins/mixing coins, the compliance boundaries are blurred, and it’s uncertain whether project teams will run away first or change the rules first… Anyway, I’ll just stay away for now, keep it steady, and sleep peacefully.