Today, while writing my internal report, I devoted some time to reflecting on the meme rush craze. In this reflection, I proposed a conclusion: We should believe in the power of traffic, but not its wisdom. Following this line of thought and exploring its subtleties, we will "take a few dozen steps and suddenly see the light," arriving at another answer: the answer to the "end of history" theory. Just as the Japanese-American scholar Francis Fukuyama proposed about the end of history, with each cycle, countless people become disillusioned with the cryptocurrency world and the crypto industry because too many coins have been issued, and there are no longer any new opportunities in the industry, market, or specific sector. There will be no more democracy after America. There will be no more cryptocurrency after Bitcoin (BTC). There will be no more public smart contract blockchain after Ethereum (ETH). There will be no more memes after XX. … Wrong. Completely wrong. Bitcoin is not the end of cryptocurrency history. Bitcoin is its starting point. How to understand the dialectical unity of the two propositions, "BTC's uniqueness" and "there are always opportunities in the crypto market," is truly a profound challenge to thinking and intelligence. If the 2017 coin issuance craze was an anomaly caused by a shortage of tokens and an overabundance of hot money, creating an imbalance between supply and demand, then after a series of optimizations like ERC-20 token issuance, the creation of a "name culture," and a zero-threshold launch platform for everyone, the token supply has exploded, with tens of thousands of tokens appearing daily. Logically, shouldn't the market be saturated long ago? However, just when people think there's no room for "innovation," there are always smarter minds who find new ways to create new buzz and get-rich-quick stories. Because, it's never the tokens that are scarce. It's the opportunities to make money, the opportunities to get rich quick. Therefore, no matter how much currency is issued, or how quickly, it will not satisfy the greed of the market's hot money chasing scarcity—the scarcity of making money and getting rich quickly. Hot money never chases currency, but scarcity—the scarcity of making money and getting rich quickly. As long as hot money continues to chase, the market and industry will always have the potential to create new opportunities. And the scarcity of making money and getting rich quickly is almost eternal, which means that the pursuit of hot money is endless and has no end. In this game of pursuit, hot money is like a blindfolded donkey pulling a millstone, forever spinning in circles, desperately running for the elusive fodder hanging just in front of its head. It's impossible to be certain that the millstone the donkey is currently circling will be the last one, the end of its history. A dealer who sees through the essence of this game and has the ability to manipulate it will always find an opportunity, design a new millstone, and pull the donkey around in circles. As long as the donkey's descendants are endless, opportunities to manipulate the millstone (or manipulate the game) will always exist and appear. The millstone was created because of the donkey, not the other way around. Just as the dealer emerged because there were leeks to harvest, not because there were dealers. Why do new millstone games keep appearing? Because the blindfolded donkey pulling the millstone keeps running hard. And each new game is packaged as a new opportunity to make money, a chance to get rich quick, and widely publicized. However, the cruel reality is that the money and quick fortunes pursued by hot money always end in losses and total loss.
Life is finite, but the game is limitless. Chasing the limitless with the finite is a recipe for disaster!
In the end, the only ones who truly make the big bucks are the mill owner, the banker of the game, and the platform that creates dreams.