Over the past two days, I’ve seen those blockchain game pools get hot again—there are a bunch of people in the group rushing in to mine the output. To be blunt, what I fear most is: “output runs faster than demand.” Coins keep getting issued, items keep dropping, and buy orders can’t keep up. The pool looks pretty thick in terms of liquidity, but underneath, it’s being quietly hollowed out by inflation. In the end, what’s left is a bunch of people slamming assets into each other.

Especially when it’s paired with Meme-style attention cycles—when a celebrity calls it out, everyone gets carried away, and newcomers are very likely to catch the baton at the very last moment. Even veteran players’ warnings don’t help. Once FOMO (fear of missing out) kicks in, everyone thinks they’ll be able to get out in time.

My current approach is kind of old-fashioned: first, check where the output is coming from and who’s actually placing the bids. Then, check whether there’s any leftover authorization, and clear it out along the way… Anyway, it’s steadier that way—fewer “I thought it would be fine” assumptions.