All other things besides the big cake are fake

Overnight, Bitcoin (BTC) stood above 29k again. The retracement from the 2021 high of 69k was -57.9%.

Ethereum (ETH) is $1,800. It has retreated by -63% from its highest point of $4,870 in 2021. I have written many articles on Ethereum, and I will just pick one such as "The Taste of Autumn" on August 7, 2021. But ironically, I have analyzed Ethereum's burning model so much, believing that it will only weaken ETH's competitiveness in value storage relative to Bitcoin, and more likely to cause FOMO spirals and death spirals, but I still suffered losses on Ethereum. The reason is that I have speculative expectations for the strength and rising gains of Ethereum as the king of altcoins, which violates the principle that "everything except Bitcoin is altcoins" that I have always adhered to.

Decentralized exchange Uniswap (UNI) 5 dollars. The retracement from the highest point of 45 dollars in 2021 is -88.8%. I have also written many articles about Uniswap, such as "Uniswap Real Market Review: Standing at 30 dollars, ranking in the top 10 in market value, and significantly outperforming Bitcoin" on March 9, 2021. Of course, looking back at this article with today's perspective, it seems to be a slap in the face. However, I will choose this article to read after knowing shame. It is a lifelong practice to be neither arrogant when winning nor discouraged when losing.

Memecoin Shiba Inu (SHIB) 0.00001 dollars. The retracement from the highest point of 0.000088 dollars in 2021 is -98.8%. On May 12, 2021, I wrote an ironic article "You Can't Learn the Success of SHIB". But what's interesting is that the irony was not seen, but it was forwarded by many people in the SHIB community as a positive article. However, I made a little money on SHIB. The reason is that I followed the principle: everything outside the big cake is a copycat. Once the copycat outperforms the big cake, it must be replaced with the big cake in time.

The storage project Filecoin (FIL) is $7.58. The retracement from the highest point of $238 in 2021 is -96.8%. As early as October 15, 2020, when the Filecoin mainnet was launched, I wrote "Filecoin mainnet is launched, who is it and who is it cutting?" I always think that Filecoin has flaws. No algorithm can verify in a decentralized way whether the stored content is junk content or meaningful content, because only people can make subjective judgments on the meaning and value of the content. Filecoin's vision is doomed to fail.

The ICP (ICP) of the cloud computing project is $7.3. The retracement from the highest point of $1555 in 2021 is -99.5%. On May 11, 2021, just before the "519" crash, I wrote "Opening at a Trillion", in which I said: Opening at a trillion is a sign that the market cycle has peaked. The last straw that broke the camel's back started a painful callback journey for us.

Axie Infinity (AXS) is $18.55. The retracement from the highest point of $165.76 in 2021 is -88.8%. On July 17, 2021, I wrote "The Growth Flywheel and Death Spiral of Elves Infinity", in which I wrote: The life cycle of the Ponzi cycle usually does not exceed 3 months. In October, 3 months after the article was written, AXS peaked and then began to fall continuously.

There are many more that I have never written...

Now, we are in a painful cycle again. The low Bitcoin price this time is similar to last year's "519". But the copycats have fallen one after another.

The pain of falling is the best education for people. It forces people to recognize the fact that everything except the big pie is a copycat.

Throughout the carnival season of 2021, every time I said that there are only two kinds of coins in the crypto market, one is Bitcoin and the other is altcoins, I would be laughed at by many people who said I was "stubborn". What about now? I don't know where those people who laughed at me are still, and whether they can still come out and take a few steps?

Whether it was Ethereum, the king of altcoins that was touted to surpass Bitcoin, or Uniswap with good fundamentals and positive values, or the dramatic hot spot SHIB, or all kinds of crazy new concepts and new projects, without exception, they all fell off their horses during the sell-off cycle when Bitcoin was hit hard.

What is tragedy? Tragedy is not never having it. Tragedy is when the best thing in the world is placed in your hands, and when you have infinite hope, it is slapped down and falls to the ground, breaking into pieces.

Since ancient times, sentimental people have been sad about separation.

How can I bear the cold and neglect of the autumn festival?

Where will I go when I wake up from my drunken stupor tonight?

Willow bank, morning breeze and waning moon.

Over the years,

The good times and beautiful scenery are all gone.

Even if there are thousands of styles,

Who else can I tell?