I just remembered a blockchain game pool I played before, and I’m still a bit afraid… Back then, the panel’s output looked pretty appealing, but when I thought it through, I realized it was basically “printing coins to pay wages”: newcomers buy tokens into the pool, and the output is propped up by inflation. The moment selling pressure shows up, it’s like a leaky bucket—the liquidity in the pool can’t possibly keep up. Even worse, the higher the output is, the easier it is to train everyone to just withdraw and never leave anything behind.

Recently, I’ve also been seeing social mining and fan token schemes—the whole “attention is mining” pitch. In plain terms, it’s just inflation subsidies wearing a new coat: attention isn’t the same as cash flow. In the end, it still comes down to who’s going to be the one left holding the bag, and who’s willing to keep buying. I’d rather dial the returns down a bit—at least so the risk doesn’t get so frequent it feels too alarming. For now, that’s it.