Lately, I've been watching the play-to-earn pools, and the more I look, the more it seems like a gear without oil: production is too aggressive, inflation is spewing tokens as waste, it was lively at first, but later it all depended on new players taking over to absorb the emissions. To put it simply, the pool isn't afraid of "people mining," but rather of what they mine having nowhere to be digested; transaction fees, item consumption, and upgrade sinks are insufficient, and liquidation (being forced to sell tokens) becomes the only stable mechanism, which makes the system more and more虚虚.


I also have doubts about the phrase "attention is mining" in social mining and fan tokens—what real consumption can attention bring? If it's only about emissions, then it's the same old story.
What I fear most isn't actually missing out on opportunities, but realizing too early that the gear is about to jam and still stubbornly adding leverage.
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