Is there always an opportunity in the crypto market? An endless pump and grind game.

History has no end, only cycles.

Every cycle, the crypto world hears the same rhetoric: there are already enough coins issued, there are no more opportunities, and the industry is saturated.

This rhetoric is akin to Japanese-American scholar Fukuyama's “end of history” — there are always those who declare that the end has come. “After BTC, there are no more cryptocurrencies. After ETH, there are no more public chains. After a certain coin, there are no more memes.” They speak with such conviction, as if everything has already become a certainty.

Wrong. Very wrong.

Scarcity has never been the currency

The wave of coin issuance in 2017 was due to too few coins and too much hot money. But look at now—ERC-20 standardized coin issuance, the explosion of inscriptions, and zero-threshold launch platforms coming one after another. Logically, the market should have been overdrawn by now, right?

No. On the contrary, more and more new coins are emerging, and more and more people are pursuing them. Why?

Because what people are really chasing is not the coin itself. What is scarce has never been the coin. What is scarce is the opportunity to make money, the story of getting rich quickly.

No matter how many tokens are issued, they cannot satisfy the greed for profit that hot money pursues. Funds in the market are always looking for the next skyrocketing target, always anticipating the next doubling opportunity. This kind of scarcity is almost limitless.

The game will always continue

Imagine hot money as a blindfolded donkey turning a millstone. In front of it always hangs that unreachable hay - making money, getting rich, doubling. For this hay, the donkey keeps running in circles, running wildly.

Those who set the game are always designing new grinding wheels for the donkey - packaged as new concepts, new narratives, and new get-rich-quick stories. Whenever one story fails, the next innovative scheme is already in preparation.

The stone mill exists because of the donkey, not the donkey because of the stone mill. Just as: because some people desire to get rich quickly, there are people who set up traps; and not because there are dealers, there are gamblers. As long as this desire exists, the game will not stop.

But the truth is very cruel

Ironically, this endless chase often ends the same way: losses and being wiped out. The money chasing the opportunity to make a profit ultimately ends in failure.

A donkey has a limited lifespan, but the grind of the mill is endless. Using a finite life to chase infinite opportunities is destined to be a paradox.

In the end, there are only three types of people who truly make big money: the masters of grinding, the dealers who set the game, and the platforms that create dreams. Meanwhile, most hot money will always just be that donkey desperately running with a blindfold on.

This is the truth about the cryptocurrency market. Opportunities are always there, but who they belong to has long been predetermined.