Recently, I've been looking at PFPs and various membership passes again. To put it simply, many times it's not about a "long-term brand," but more like a fleeting attention trend. The ones that can hold up are actually not that noisy: clear rights and interests, stable community atmosphere, and not relying daily on recruiting people to survive.

In the group, these days there's been talk about stablecoin regulation, reserve audits, and rumors that someone is "de-pegging," and emotions have suddenly risen... I am even more certain that I am not suited to chase after hype. When extreme market conditions hit, membership titles and avatars can't save positions; what can save lives are cash flow, hedging, and not going all-in.

I'm not regretful about the outcome, but about knowing at the time that it was only short-term attention, yet still treating it as a long-term belief. First, think about how to survive, and the rest can wait.