I tried once to be a “miner” in a certain blockchain game: collect the daily output and then throw it back into the pool. A few days ago, watching the numbers felt pretty great, but I only later realized this: the output is essentially inflation. The pool’s small amount of real buy pressure/fees can’t support it at all. The more people come in to mine, the more it feels like slicing the same piece of pie into thinner and thinner layers. By the time someone starts selling in a concentrated way, liquidity gets drained in an instant, and the slippage in the pool becomes so large that it makes you question life itself. Everyone is left with nothing but “waiting for confirmation”—waiting for others to finish selling first, waiting for the team to publish an announcement, waiting for the bridge to not have any issues. Recently, the cross-chain bridge has again been hacked, and the oracle also reported abnormal prices. I’ve been even more scared since then: pools that rely on external price anchors can trigger a chain reaction just from a small shock. Anyway, after that, I learned my lesson—I’d rather make a little less, as long as I can first figure out where the output really comes from and whether the exit channels are blocked.

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