These days, the pools in blockchain games are shouting "maximum output" again, and I actually feel a bit uneasy. To put it simply, it's because inflation is being issued too quickly; the people coming in aren't really interested in playing, they're just here to make a quick buck; once the new issuance slows down, the selling pressure is more active than the output, and the pool starts to shrink, leaving only mutual destruction... I’d rather have it slow and expensive than turn the economy into a one-time fireworks display.

The debates about staking, shared security, and those "compound yields" got pretty intense, and I only realized afterward to check them out. It feels like a nested doll of blockchain games: the yields look like they’re stacking up, but the underlying cash flow hasn't changed, and the risks are piling up very quickly. Anyway, when I see high yields now, I just assume they’re overdrawing the future. I’ll wait and see, no need to rush.