Why does the crypto market always have "new opportunities"? The harsh truth about pumping the donkey.

Question

When writing about the crypto market, I suddenly thought of that Japanese scholar Fukuyama - yes, the one who proposed the “end of history” theory.

Every time the market shifts between bull and bear, there are always people who say dejectedly: this industry is finished, too many coins have been issued, and there will never be new opportunities again.

Sounds familiar?

After Bitcoin, there is no more encryption currency. After Ethereum, there is no more public chain. After XX meme, there are no more meme coins…

Is it realistic? Completely wrong.

Bitcoin has never been the end point; it is a starting point. How to understand the seemingly contradictory propositions of “BTC is unique” and “there are always opportunities in the market”? This is the true test of the mind.

Why are there still people making money when there are endless coins to distribute?

The wave of token issuance in 2017, with few tokens and abundant hot money, created a bubble due to the imbalance of supply and demand. It makes sense.

But what about now? ERC-20, inscriptions, various launch platforms - the threshold for issuing coins has dropped to the ground, with tens of thousands of new coins emerging every day. Logically, the market should have been saturated by now, right?

Just when everyone thinks “there's nothing new,” there will be more savvy players emerging, coming up with new concepts and new stories of getting rich.

Why?

Because what is scarce is not the coin. What is scarce is the opportunity to make money, the opportunity to get rich quickly.

No matter how many or how fast the coins are, they cannot satisfy the retail investors' desire for a “get rich overnight”. The hot money has never chased a specific token; it chases the elusive “scarcity”—the scarcity of making money.

As long as this chase continues, the market will keep generating new opportunities.

The Game of the Donkey Turning the Mill

The scarcity of sudden wealth is almost eternal. What does this mean? It means that the chase for hot money is also endless.

It's like a blindfolded donkey turning a mill—hanging in front of its forehead is a pile of fodder it can never reach, so it keeps turning in circles, running wildly. You can never say: “This is the last stone mill, the history of the stone mill stops here.”

Those who understand this game will always find opportunities to design new “grinders” and continue to pull the donkey over to turn.

As long as there are endless generations of donkeys, the opportunities to set up schemes will always exist and keep emerging.

The millstone is born because of the donkey, not the donkey because of the millstone.

Just like leeks give rise to the dealers, rather than the dealers creating the leeks.

Why are new games emerging endlessly? Because the blindfolded donkey is constantly running hard. Each round is packaged as “a whole new opportunity to make money” “the next hundredfold coin”, and then heavily promoted.

The Harsh Truth

The reality is just very harsh —

The pursuit of making money and getting rich quickly by hot money often ends in losses and total depletion.

The life of a donkey is有限, but the局 is无穷无尽. Pursuing the unlimited with the有限 is dangerous.

The ones who truly make big money are always the masters of grinding, the dealers of the game, and the platforms that create dreams.

This is not pessimism; it is the underlying logic of the market. Once you see it clearly, you at least know what game you are playing and where you stand.

Stop asking “Is there still a chance after this wave?” As long as human nature remains unchanged and greed is not extinguished, the “end of history thesis” will always be a joke.

OfflineValidator · Accepted Answer

Even Fukuyama said history has ended, yet it&#39;s still being updated. The people in the crypto world who keep saying it&#39;s over are the same; every time they say there are no opportunities left, something new comes up. To put it bluntly, they just lack imagination.

FromMinerToFarmer · Answer

Haha, it&#39;s that same "the industry is over" rhetoric again, my ears are getting calloused from hearing it.

To be honest, every time there&#39;s a bottom, someone shouts death, and what happens? They turn around and find a new track, this cycle is quite magical.

There is only one BTC, but the opportunities are truly endless.

Degentleman · Answer

It&#39;s the same old story of "the crypto world is over"... truly a classic cycle, we hear it every time during a Bear Market.

The chosen ones always think that the dip they buy is the last chance, but what happens? In the next round, some people get rich again, and that&#39;s the most heartbreaking.

BTC is a myth, but that doesn&#39;t mean there aren&#39;t ways to survive afterward. The logic is actually simple; it&#39;s about whether you can think seriously.

If issuing coins is so easy, why are there still pros making money... it shows that the problem is not with the coins, but with the people.

History never ends, and the market is always filtering out the smart people and the dumb buyers, it&#39;s just that simple.

TokenSleuth · Answer

Another set of "end of history" theories? Every time there&#39;s a Bear Market, we hear this, saying that coins have no chance, and then in the next round, some people get rich, it really makes me laugh.

The threshold for issuing coins is indeed low, but the coins that can make money are like finding a needle in a haystack, don&#39;t make it sound so simple.

Fukuyama&#39;s theory is long outdated, the crypto space is forever a jungle of barbaric growth, with opportunities and traps coexisting.

Simply put, it&#39;s the psychology of gamblers; as long as there are new stories to tell, there will always be dumb buyers.

Saying BTC is the starting point sounds better than it is. The reality is that 99% of new coins will drop to zero, that&#39;s it.

Why do some people still make money? Because of the information gap, some people are just one step ahead of others.

DegenMcsleepless · Answer

Fushan&#39;s example is truly remarkable. Every time there&#39;s a Bear Market, someone shouts "the end of history," and then they get slapped in the face in the next round. It’s a cycle that’s laughable.

The threshold for issuing coins has indeed reached the sky, but those who make money are never the majority. That’s the brutal reality.

I’m tired of hearing phrases like "no more XX." Every time someone asks me if a certain coin still has a chance, I just want to throw this article at them.

Curiosity drives me to keep digging in this quagmire; after all, history hasn&#39;t ended yet.

With so many coins, it’s actually the real hunting ground. Those who understand never complain about the abundance of coins.

ServantOfSatoshi · Answer

Haha, it&#39;s once again the same old narrative of "the crypto world is over". I&#39;m tired of hearing it.

The ones who truly make money are never those who just follow the trend and shout slogans.

Every time there&#39;s a Bear Market, there are just so many pessimists, and then they turn around and get played for suckers in the next round.

The argument that history is ending is indeed useful, but the crypto world is like this; there will always be new things emerging.

The low barrier for issuing coins actually indicates that there are more opportunities; it&#39;s just a matter of surviving against the odds.

The difference between those who see through this and those who cry for help every day is huge.