(2) As long as they have the pricing power after the project goes public, it doesn’t matter how much money is invested. I set the valuation, and you have to buy at this price. Even if no one takes over, a 90% drop still does not reach the cost. Isn’t it the same for so many failed projects in the past two rounds that peaked as soon as they went public?

Is there really a difference in the traditional stock market? The difference may be that someone is in charge, so it takes some trouble to pretend. Invest in content marketing and increase users, and the result is greater wear and tear, but this part is naturally paid by shareholders.

The classic case is the newly listed milk tea shop, which is everywhere on the street. With such a good market, the IPO price fell below the issue price.

Some content websites have hundreds of millions of active users. Can the business really make money?

The advantage of blockchain projects is that this part of the fake wear and tear will become a direct airdrop to early adopters, enhancing the consensus of the wealth creation effect.

So it is very important to play in the market. Your risk-return is never 50-50. In the stock market, the money spent by investors in the early stage will be cut off at the beginning, so it may be 25-50. The 80/20 rule is not because the 20% of people are smarter, but because the 30% of the cake has no chance to be shared.

On the contrary, because there is no entity sucking blood from the blockchain, there are not so many employees to pay wages, and the capital circulation efficiency is higher, your chance of winning is greater than that of traditional industries, but it may still be only 35-50.

Value investment definitely exists, but it is not what you think. Good investors should get rid of virtuality and turn to reality as soon as possible. Of course, I am not talking about the virtual economy and the real economy, but playing less superficial articles and more direct and rough hard disks.