In the cryptocurrency world, there are two disadvantages of investing based on yield:

First, yield anchors the price. The power of converting yield into value increase can only come from repurchase - if there is no repurchase, the yield can be temporarily ignored and counted as "air coin". If there is a repurchase, the imagination space is extremely limited. Because the cryptocurrency world is currently dominated by the "market dream rate", it is very disadvantageous to calculate the "price-earnings ratio".

Second, it will underperform Bitcoin in the long run. Even if Bitcoin is 58,000 today, it can still be expected that the return of holding Bitcoin in a few years will be better than holding certain income-type projects.

There are several logics

1. Bitcoin has a market dream rate

2. Bitcoin has no competitors and has a moat. The moat of other projects may collapse overnight due to loopholes or new innovations, or the end of traditional finance.

3. Bitcoin's chip distribution and holding consensus are far from comparable to other projects, and Satoshi Nakamoto will not smash the market.

4. Bitcoin has huge room for growth, and there are many variables to consider in the ceiling of other projects.

5. You don't have to worry about people who are bullish on Bitcoin wanting you to take over the chips.

With these logics, even if a project outperforms Bitcoin, you won’t feel sorry, because you feel comfortable and at ease in the whole process.

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