Token2049——Poor, useless, Great Depression, forced smile

Author: TraderS; Source: Author’s Twitter @Trader_S18

In fact, there really aren’t any out-of-the-circle events to talk about at this conference. If there was something really influential, would it be that JJ and some artists attended an in-circle event together on the last day, triggering a ferment of public opinion among the fan circles within the wall? Hahaha, I’m going too far. It’s meaningful to share my experiences in Deep Bear to provide you with some different perspectives and references. Let’s go back to the conference.

In fact, I was too lazy to go to so many events in previous years. This year, I chose some representative ones and went for a walk. I picked up some small gifts, looked at the design and workmanship materials, and saw if the organizer was willing to do it. Spend money. Of course, what I want to do more is to get a feel for the industry and see how people in different niches work and live.

If I could describe this conference in one word, it would be poor. If you use two words to describe it, it is tasteless. If you use three words to describe it, it is the Great Depression. If I could describe it in four words, it would be a forced smile.

1. First of all, judging from the number of people attending this year's event, there are fewer friends than last year. And unlike last year's F1, countless people in the circle posted photos with Zhou Guanyu and watched the game. The viewing seats throughout the game were full of views. A short video posted by someone in the currency circle.

2. Participants arrived late and ended early. Many people came on the 12th and left on the 15th, far from staying for a week or two like last year. There were quite a few people who used their houses and food for free last year and this year, which is normal. Although it also fell sharply last year, firstly, the liquidity is still good, and secondly, the capital reserves are relatively sufficient. Although the chances of making money last year were much worse than in 2021, they are not hopeless. This year, everyone even tacitly stopped asking each other for wealth passwords.

3. The industry is no longer the Xiao Tiantian of yesterday, but has become Mrs. Niu, but due to the pressure of life, she has to put on makeup to pick up customers.

4. According to the usual practice in previous years, the main party only lasts for two days, but the surrounding activities, including the afterparty, will last about a week. This time, some of them will start on Sunday. The overall mood begins to reach a climax on Monday, but the ending feels very early and hasty. .

5. Some conference organizers are obviously in a dilemma. They want to use the invitation system to show their talent, but they are afraid that there will be too few people in the venue and they will let people in according to the situation.

6. Take out a bunch of old projects and stir them up. Each venue is filled with faces of old projects and practitioners. The number of newcomers and Web2, which was the most ridiculed by the circle last year, has significantly decreased, and the industry's appeal has declined.

7. I believe you have also seen many articles complaining about it. The conference is a big gathering where acquaintances make appointments to attend. There are more sickles, fewer resources, and fewer leeks.

8. There are fewer people showing off their big meals, yachts, and F1 races, but it’s not that they don’t exist. It’s just that everyone has become poorer. Some of them really can’t afford to go, and some of them are too embarrassed to post about it to stimulate everyone if they do.

9. Last year’s web3 peripheral Frisbee, hiking, and cycling have all disappeared.

10. In the early days of the currency circle, those who did not have the freedom to withdraw from the circle were still active in different projects of the old and new factions, unwilling to leave the circle.

11. KOLs have different characteristics. Some are for chatting, interviewing, publishing, taking pictures, taking orders, technical, fundamental, and news. They rely on poor cognition and poor information to take advantage. There are people who work and people who are just dawdling.

12. Small exchanges: With the layoffs of large exchanges and the spread of technology, small exchanges have sprung up. However, most of them have serious homogeneous competition and mainly rely on contracts to survive. Some rely on crazy currency listing projects to cut off the community.

13. Some small project owners have made money before, and now they are still looking to launch new projects to continue making money, and some want to switch to the exchange track. The gameplay of the exchange track has also changed, and the competition is more fierce than before.

14. It is not uncommon for major exchanges to lay off 20%, 30%, 40%, and 50% of their employees. In order to ensure cash flow, recent contract rate strategies have been continuously updated, and there are not many old leeks left.

15. For large project owners, those who cashed out at high levels in the bull market and still have a lot of stock in their hands are still doing well. Quantitative funds and new market makers are also sought after.

16. There are fewer people doing investment incubation. After all, the market is so bearish and there are few good projects. Institutions are like leeks. They chase the rise and kill the fall. Although the valuation is very high, because they can’t see the exit time in the future, everyone invests. I'm more cautious when buying and selling.

17. Generally speaking, those in business TOB are doing better than those in TOC. Those who sell scythes such as mining industry bosses and system tool suppliers are still doing well.

18. Powerful institutions still take turns booking venues at internet celebrity bars and hotels in the CBD area.

19. Although the situation is different year by year, the overall situation is still much better than that of traditional industries. Like all financial peers, the difference between big and small is obvious.

20. Don’t worry about FOMO for those who didn’t come. There won’t be much new stuff at the conference. After all, technological development and innovation are slow, and the R&D speed is far behind the expansion speed of financial bubbles. No matter how fast the bubbles grow, they will also be affected by Too far away from the fundamentals and rupture clears. For example, chain games, after so many years, are still in the stage where the big brother said, "I'm not referring to anyone, everyone here is rubbish, and none of them can beat me." How many examples are there of the perfect combination of games and finance, such as "Fantasy Westward Journey"? Years have passed, and WEB3 people still need to work hard.

21. There will always be a lot of braggarts and show-offs in shopping malls. This is a biological instinct and is understandable. Just like a cat blowing up its fur to make it look bigger. This is just to appear powerful, which can not only protect itself but also confuse people. Enemies plunder resources.

22. Although I joke that it will fall at every turn, this is probably more due to the influence of the "September Curse" of US stocks, which can also be regarded as a traditional performance in the US financial market.

The only bright spot is that there are still many people who are really doing things, and there are also many energetic young people who want to come in.

It is not that the currency circle has never experienced a long bear market, but this time may be the most serious depression since the industrialization of the currency circle.

There's no point lying down and pretending to be dead when the bears come, you can only survive by running faster than your teammates. Either you have a high IQ, a stable mood, or good luck. You must have an advantage to make money. Of course, it would be great if you don’t lose money.

There are mostly Chinese people in the conference, but what I want to say is that it is not that Chinese people love gambling, nor is it that China, Japan, Korea, East Asia, and Southeast Asia are addicted to gambling, but that under the influence of East Asian Confucian civilization, everyone is too motivated, but the channels for advancement are always limited. It's narrow. In this case, you can only try to convert the bicycle into a motorcycle.

In short, the currency circle is a miniature version of society. Because of the small scale, the economic cycle and the industrial chain cycle are short. It's better to observe how it works.

Everyone is working hard to live.

I hope the currency circle can return to the technological narrative rather than the casino narrative.

Can you maintain it now without having sexual desires until the end of your physical life?