I've been reading "The Evolution of the Internet" recently, which contains many stories about the early days of the Internet in the United States, its rise, collapse, and rebirth. I can't help but sigh that the cryptocurrency world is too similar to the early Internet. Market value does not depend on whether the project can make a profit, but on the narrative and the ability of capital to make a game. Capital parties do not expect long-term profits from the project, but have later believers who take over at a higher valuation, and listing on IPO/Binance IEO has become the end of the project. Of course, after the bubble bursts, there will be a round of good opportunities to pick up bargains, and some truly potential project parties will develop. For example, after experiencing the bull market in 2017, BNB also fell to a few US dollars, and ETH also fell to 200 US dollars. Now they have become indispensable infrastructure for blockchain.