Why does the crypto market always have 'new opportunities'? Let's talk about the game nature of the donkey pulling the mill.

Recently, I've seen memes coins going crazy on the screen again, and it suddenly made me think of an interesting point: The traffic is indeed quite strong, but don't expect it to be very smart.

Following this line of thought, one would discover a deeper issue – where exactly did those who shout “there will be no more opportunities after XX” go wrong?

Do you remember Fukuyama's “The End of History” back in the day? Every time the market shifts between bull and bear, there are always some who leave quietly, muttering that the market is dead and opportunities have been exhausted.

“There will never be a second one after BTC” “Once ETH came out, the public chain track was over.” “This wave will end after the XX meme goes viral” …

Ridiculously Wrong

BTC has never been the finish line; it is the starting line of the entire crypto world.

How can we simultaneously understand “BTC is unique” and “there are always new opportunities in the market”? This is indeed quite brain-burning.

The wave of coin issuance in 2017 was essentially a bubble created by the imbalance of too few coins and too much money - a supply and demand issue. But what about now? The ERC-20 standard has become widespread, the inscription gameplay has emerged, and the launchpad has lowered the threshold for issuing coins to zero… Logically, it should have reached saturation by now, right?

With tens of thousands of new coins emerging every day, how hasn't the market exploded yet?

Because what is fundamentally lacking is not the coin

Just when everyone thinks “there's nothing new to innovate,” there are always smarter minds that can come up with new tricks and create new wealth myths.

What has always been truly scarce is not the tokens themselves, but the opportunity that can change a person's life overnight.

No matter how many coins are issued or how fast, it doesn't matter. Retail investors and hot money are not chasing quantity; they are chasing that sense of scarcity of “this time I can seize it”—the scarcity of making money, the scarcity of becoming rich.

The hot money has never focused on the coin type, but rather on the scarcity of opportunities.

As long as this pursuit continues, the market will keep creating new opportunities, new concepts, and new ways to play. The scarcity of money-making opportunities is almost an eternal proposition, so this chase game has no end.

The Metaphor of the Donkey Grinding the Mill

What is this game like? Like a blindfolded donkey pulling a millstone - always dangling a piece of fodder just out of reach, it desperately runs in circles, desperately galloping.

You can never say “this is the last millstone”, because as long as the donkey is still running, new millstones will appear.

Those who see through this trick will always have the ability to design new schemes and set up new platforms, leading the donkeys to continue spinning. As long as there are endless leeks, the opportunities to create schemes will never cease.

The millstone is born because of the donkey, not the donkey because of the millstone. Because there are leeks to be harvested, it gives rise to the operators, rather than the operators existing first and then there being leeks to harvest.

Why do new games always emerge? Because those blindfolded donkeys never stop running.

Every round will be packaged as “the next hundredfold opportunity” and “a lifetime of regret for missing out,” spreading everywhere.

Reality is harsh

But the dream of making money pursued by hot money often ends with losing all the principal.

Life is limited, but games are endless. With a limited capital chasing infinite rounds, the next outcome is predictable.

In the end, those who make big money are always the masters of the grindstone, the dealers of the game, and the platforms that create dreams.

Not those donkeys that spin around desperately.