Last night I stumbled upon an NFT project—the floor price has been cut in half again. In the chat, someone was lamenting, “Where’s the liquidity?” and someone else was cursing the royalty switch… It reminded me of a picture I almost impulsively bought last month. Luckily, I had set a 24-hour cooling-off period, and looking back now, I saved myself some money.

To be honest, it’s pretty awkward to talk about NFT liquidity right now. When things are hot, no one cares about the mechanism. Only after things cool down do people remember to ask, “How do we get the money out?” The royalty issue is the same too—the project team and the community throw blame back and forth—but the truth is, the early incentive design just wasn’t thought through that far.

Lately, the community has still been arguing about the compliance of privacy coins, and it’s tearing everything apart. I can see points on both sides, but I can’t be bothered to pick a side… Anyway, my habit now is: before placing any order, I write down two lines of reasons for myself, then look again after a night. Most of the time, I end up not wanting to buy anymore.

That’s it for now.