These days, I’ve been thinking again about who is really “feeding” the time value—option buyers or sellers. Plainly put, time is the cost: every day, the buyer is slowly bleeding, and you lose money even if the market doesn’t move. The seller is like collecting rent, but don’t forget the house can catch fire—if you hit a one-way explosion, it won’t just make back what they’ve collected; it’s more than that.

Seeing how blockchain games spiral down like inflation + studios + coin price, it’s actually pretty similar to buyers paying premiums for the long term, hoping for a miracle—only to find that time eats you first. I’d previously looked into a new project; the community was really lively, and I got pretty excited. But then I took a closer look and saw that the token unlocks and use cases were basically just like that… Forget it—I politely unfollowed. Hype can’t be cash flow.