Last night before bed, I saw someone arguing again about stablecoin de-pegging, and my first reaction was actually sweating palms... In the past, whenever the market heated up, I would chase high, but the worst part isn’t the decline, it’s the impulse to panic when everyone is panicking together and the “run on the bank” button is right in front of you. To put it simply, no one usually pays attention to reserve transparency, but when something happens, they start digging up old issues, and the discrepancy between on-chain and off-chain data makes emotions run faster than the data.

Recently, there’s been criticism of the stacking and shared security yield stacking being called “pyramid schemes,” and I can understand that. It looks pretty attractive normally, but when volatility hits, it’s like a stack of playing cards—whoever withdraws first survives. Anyway, I now prefer to keep my position smaller, accepting fewer gains, so I won’t melt down in panic.