To be honest, every time I see someone rush in to snatch an arbitrage opportunity, I actually feel like laughing. They think they’re hunters—staring at a bunch of pending transactions and rushing to grab them—but what happens? The sandwich comes first and clamps you. You think it’s profit, but it’s really tuition paid in someone else’s transaction fees.

These days, hardware wallets are out of stock, and everyone’s busy hoarding security gear—that’s great—but on-chain, those phishing links are still partying like crazy. You buy a cold wallet, yet you’re still entering your seed phrase into a fake link. Then that wallet is basically a waste of money.

Anyway, when I watch the crowd, I always feel that the more extreme the emotions, the more you should take a look in the opposite direction. Don’t end up with the last mouthful of soup—maybe that soup is someone else’s transaction fee.

Forget it, that’s it for now.