Traffic and Wisdom: The Eternal Opportunities of the Crypto Market

When discussing the crypto market, a thought-provoking point emerges: we should acknowledge the power of traffic, but not overly trust its wisdom. This line of thought has sparked reflection on deeper issues, particularly the discussion about whether the crypto industry has already reached the “end of history.”

Many people have lost faith in the crypto industry and chosen to withdraw during each market cycle, believing that tokens have become saturated and that there are no new opportunities in the market or specific sectors. However, this “end of the road” perspective often proves to be incorrect. Bitcoin is not the end of the history of cryptocurrencies; rather, it is the starting point of this history.

Understanding the dialectical relationship between the uniqueness of Bitcoin and the continuous opportunities in the crypto market is indeed a significant test of one's thinking ability. Looking back at the token boom in 2017, it was possibly caused by an oversupply of hot money due to the insufficient supply of tokens. However, after a series of innovations such as the ERC-20 standard, inscription technology, and low-threshold issuance platforms, the supply of tokens has experienced explosive growth, and theoretically, the market should have been saturated long ago.

However, just when people think that the space for innovation has been exhausted, there are always more creative individuals who blaze new trails and create new hotspots and wealth opportunities. This is because the truly scarce resource has never been the tokens themselves, but rather the opportunities for profit and getting rich.

No matter how large the token issuance or how fast it is, it cannot satisfy market participants' pursuit of scarcity—specifically, the scarcity of opportunities to make money and get rich. Hot money is always chasing after this scarcity, not just the tokens themselves.

As long as this pursuit does not stop, the market will continue to create new opportunities. The scarcity of profit and the chance to get rich is almost eternal, which means that the chase for hot money will also be endless.

In this chasing game, hot money is like a blindfolded donkey on a mill, forever chasing an unattainable goal, constantly running. We cannot determine if the current “mill” is the last one, the endpoint of history.

Those who understand the essence of this game and have the ability to manipulate it will always find opportunities to design new “grinds” to attract funds and continue this cycle. As long as there are people willing to participate, the possibility of creating new opportunities will always exist.

“The grind exists because of the donkey, not the other way around. Just like there are people who can be harvested, there will be those who harvest, not the other way around.”

Why do new “grinding games” keep appearing? Because there are always people relentlessly chasing after them. Each new game is packaged as a new opportunity for wealth and heavily promoted.

However, reality is often cruel. The dream of getting rich quickly that hot money has been chasing usually ends in losses. The resources of participants are limited, while the game seems never-ending. The result of pursuing the infinite with the finite is predictable.

Ultimately, those who truly profit are often the ones who control the rules of the game, the house that designs the game, and the platforms that create dreams.