The development of virtual currencies is essentially a replication of the logic of real-world finance. Every country has its own fiat currency system, and the living standards, savings, and consumption of its citizens are closely tied to the national currency. However, when it comes to international trade, the US dollar still holds an absolute dominant position. This is no coincidence — the key lies in the fact that the amount of currency issued by a country is not just a matter of numbers, but involves a comprehensive consideration of political stability, economic fundamentals, national defense, diplomacy, and other factors. Once a country falls into a crisis and its currency is excessively issued, the ultimate result is that the people abandon that currency, causing its value to collapse instantly.

Why has Africa been so optimistic about BTC in recent years? The fundamental reason is here — they have lost confidence in their own fiat currencies. The ecosystem of stablecoins follows the same logic. Various stablecoins are emerging like mushrooms after rain, but honestly, it’s difficult for us to truly assess their safety. Issuers are usually just project teams, and the risks are entirely borne by investors. You have to ask yourself: how do they guarantee stability? How do they generate returns for coin holders? Once the profit model collapses, do these stablecoins still have any value? The crypto world is not without lessons — the USTC lesson is still fresh in our minds.

A common problem among many investors is that they only interpret information in a way that benefits themselves. But true investing is not about stacking theories or marketing hype; it’s about testing with time and reality. Every investment you make is a gamble on a possible future. Since you choose to promise higher returns, you must be prepared to bear the risks. Investing first requires responsibility to oneself; any decision must be made with the risks clearly understood.

I still believe in the long-term prospects of this field. The reason I bring up these points is simply to encourage everyone to think more carefully — don’t let superficial prosperity blind your eyes.