Why were the earlier knockoffs easier to make money with, and now when knockoffs run slow, they get trapped?

In the past, you would first write a story, then issue a token, and everyone would reach a consensus together, pushing the coin out of the circle. The dream of the big players was to break out of the circle, make money, and gain fame.

So, with earlier knockoffs, if you bought and held, you could make money because everyone who bought would walk the same path. At that time, there were few coins listed on exchanges, but they were high quality because of the consensus. The big players wouldn’t secretly dump, and you could earn several times or even ten or more times profit, very straightforward.

Now, they issue tokens first, then write a story for them afterward. Or they ride hot topics, focusing on speed to harvest. Whether or not it gets listed on an exchange isn’t the goal of the big players. Making money, making quick money—that’s what matters! When a hot topic emerges, all the big players put down their bowls and chopsticks, their young models in their arms, and launch one first.

If they’re slow to launch, the hot topic ends. By the time retail investors research and rush in, it’s already over.

That’s why the initial enthusiasm about blockchain changing destinies has gradually turned into a gambling game.