Many newcomers still don't understand how this circle operates. To put it simply, it's about trading garbage for your real gold. All that talk about great innovation and blockchain revolution is nonsense. Besides Defi lending and dex, what else is frequently used?
In 2013, Bitcoin surged to 8000 RMB, and a bunch of pow coins emerged. $doge was a product of that era. Because Bitcoin was too expensive, the idea of Dogecoin was to be used for tipping. In the end, the founder sold all of it, and it was hyped by various celebrities, making it an extremely unique token in this industry. At the same time, a lot of trash had already gone to zero, and those who created these trash coins deceived a large number of Bitcoins. (Ethereum was not yet available that year.)
In 2017, times have changed, and the circle has matured. With Ethereum as a Turing-complete public chain, various gods started issuing coins for ICOs. Back then, Yunbi, Yuanbao, and Jubian were truly casinos, even lower quality than today's meme coins, with myths of hundredfold returns appearing almost daily. Through this wealth creation effect, a large number of air coins were issued using ICOs, deceiving people out of their Bitcoins and Ethereums. That year also saw the invention of NFTs.
In 2021, apart from Defi, the most deceitful was the Crazy Zoo, which was the initial form of today's meme coins. Any animal, be it a cat, dog, donkey, or monkey, could be issued and hyped. The madness was comparable to today's meme coin speculation, and of course, the outcome was unchanged—issuing garbage to deceive you out of a large number of Bitcoins and Ethereums. That year, NFTs exploded, and ETH was deceived away by a large number of NFTs. Now, you all have seen how it is.
In 2024, the gameplay and principles are completely the same. At the beginning of the year, the innovation of inscribing on the Bitcoin chain invented inscriptions, which are now ignored. If you still hold any illusions, refer to the NFTs of that year; it's a completely new bottle for old wine. By the end of the year, the focus shifts to meme speculation again, with the final outcome being the same—trading garbage for your Bitcoin, Ethereum, and the new generation of SOL.
Why are people's Bitcoins, Ethereums, and SOL decreasing? It's because they are being consumed by these garbage coins. Those who truly understand how to run long-term in this circle need to eliminate this noise and hold on to those things that were deceived from others. It may seem slow, but it's actually the fastest and simplest way to wealth.
Just to add a final note, at the end of every bull market, there often leaves a hint for the next bull market, which then ignites the next bull market through years of building. The trash coins of 2013 left a hint for ICOs, the NFTs and ICOs of 2017 left a hint for the NFTs and Defi of 2021, the Crazy Zoo of 2021 left a hint for meme speculation in 2024. Where do you think this round of bull market will leave a hint for the next bull market? Will new drivers emerge from SOL? Or from the Bitcoin ecosystem? Everyone think about it and give me some inspiration~$SOL