Yesterday, someone posted a screenshot of getting rich on Moments again. I clicked to see: it's another new project, another hundredfold coin.

What tricks have the crypto world been playing over the years? DeFi claims to be decentralized finance, but project teams run away more often than banks collapse. Web3 says it will reshape the internet, but in the end, it's just a Ponzi scheme in disguise. NFTs claim to be a digital art revolution, but now everywhere are monkeys worth 0.01ETH that no one wants.

What innovation? It's just new ways to harvest.

In the past, to harvest the leek, you had to write a white paper. Now, just launch a low-quality project, and it's all over in 24 hours. Before, there was at least some community consensus; now, with a KOL shouting buy, retail investors rush in to get slaughtered.

What's the most ridiculous? Truly skilled people dare not enter; institutions with funds are watching; insightful investors are waiting. Why? Because this circle has already become rotten.

The place is full of speculators and scammers. How can decent people come in and do business?

So stop asking why there isn't a next Bitcoin.