Did you know? The combined market capitalization of Bitcoin, Ethereum, Dogecoin, and the platform tokens of certain leading exchanges has exceeded 2.5 trillion USD. How exaggerated is this number? It surpasses the GDP of 90% of countries worldwide and far outstrips 99% of publicly listed companies.

But this is strange—how can something intangible and invisible be more "valuable" than physical assets like factories and land? Is this rational pricing, or a collective illusion?

Honestly, their sources of value are completely different.

**Bitcoin is like digital gold** — its creator, Satoshi Nakamoto, embedded scarcity directly into the code, with a fixed supply of only 21 million coins, which no central bank or politician can change. It’s precisely this absolute scarcity and pioneering decentralization that caused its value to rise from worthlessness to hundreds of thousands. From shells to gold to paper money, every monetary revolution in history has been a shift in consensus, and Bitcoin is the current bearer of that shift. But frankly, its practical utility is actually limited.

**Ethereum follows a completely different logic** — created by a 19-year-old genius, V神. If Bitcoin only introduced the concept of decentralization, Ethereum turned that idea into real infrastructure with "smart contracts." Its value lies in possibilities — applications built on it are virtually limitless.

**Dogecoin and platform tokens represent community consensus and ecosystem value** — the former relies on community enthusiasm and cultural identity, while the latter depends on the actual needs of exchange ecosystems.

Ultimately, value is what people are willing to believe in.