#美国消费者物价指数发布在即 Privacy coins are going crazy—ZEC has surged 800% in a month. It looks glamorous, but do you really understand the truths behind the bustling facade?

The driving forces behind this surge are basically two: on one side, lofty dreams voiced by top executives; on the other, anxiety caused by regulatory actions. One weaves a story, the other fuels panic. These two forces work together to push the price to absurd heights.

Of course, there’s some technical basis—Zcash is indeed undergoing iterative upgrades, and on-chain activity is increasing, which provides a credible excuse for the hype.

But everyone in the circle knows an iron law: privacy coins are fundamentally perfect ATM machines for smart money. High volatility reinforces the narrative; every bull market is pulled out and played again and again, cycle after cycle. You know deep down this is a game of musical chairs, but you keep betting you won’t be the last one to pay the price.

When people in front of the screen are frantically watching K-line charts and screaming, I choose to turn off the app. The most dangerous secret in the market is actually easy to understand: what’s most worth protecting is never your position, but that heart of yours that always wants to chase gains and cut losses.

The excitement and opportunities are for others; what you need to safeguard are your principal and your clarity. Ultimately, the real destructive power isn’t in the market charts, but in people’s minds.