Recently, I’ve been looking at a few blockchain game pools, and it all feels like the same setup: they churn out rewards like crazy every day. Players sell nonstop just to get their money back. And once the token price softens, they have to increase issuance again—doubling it just to keep people around. In the end, all the remaining tokens in the pool are inflated “chips,” and the whole thing collapses especially fast once new issuance stops. To put it plainly: producing output isn’t the problem—the problem is there’s nowhere to recycle that output. Selling is the only way out.

By the way, hardware wallets have been out of stock lately, and phishing links are flying around everywhere. It’s pretty surreal: on one hand, people complain that the returns are low; on the other hand, they click and send private keys into fake sites. Anyway, for now, I’m treating “airdrop claims / missing sign-in redemptions” as if they don’t exist. That’s it for now.