Do you remember that coin that skyrocketed from 600 to 1600? Under the glow of A16Z's investment, claiming to be a "green Bitcoin," promising mining returns within three months.

Sounds very tempting, right? That's exactly what I thought back then, and I invested 2 million directly to buy mining machines. And what happened? In the end, I sold those machines for only 200,000—treated as scrap metal.

The crash came faster than anyone expected. That afternoon, it was pouring rain, the market plummeted, and the mining machines stopped working. Sitting in the server room, watching the cooling fans still spinning, I suddenly felt extremely absurd. The feeling of losing everything isn't anger; it's that kind of emptiness so profound that you can't even cry.

Seeing the current trend of $ZEC, honestly, I feel uneasy. Not that it will definitely repeat the same mistake, but that familiar narrative pattern and the "surely profit without loss" sales pitch are too similar.

In a bull market, any story can make sense; when the bear market hits, the speed at which mining machines become scrap metal is faster than you can imagine. That's a message for those who need it.