AxZenith_刘多余

Wall Street has gained actual control over Bitcoin, and miners no longer have the ability to influence the market.
This is something I have been emphasizing over the past year, and it is also the reason why I have asserted that Bitcoin will enter a small peak before the halving. Brother Zhao’s visit to the United States means that the ETF application must be approved, although this sounds like It's like a conspiracy that has been laid out for a long time, but it is a conspiracy. When people were still talking about how they would not take over Bitcoin at a high price, Wall Street already had actual control over Bitcoin. This is the reality. They can influence the market, not only the crypto market, but they can influence the world's rich businessmen and celebrities, and even wars. In previous articles, I have emphasized many times that the market value of Bitcoin is as simple as buying a stuffed toy for them to play with. I also firmly believe that they are not targeting the three walnuts and two dates in our hands and spending several years planning to use their century-old reputation to endorse Bitcoin. They must be targeting wealthy businessmen and celebrities. Is it really impossible to apply for approval five years ago? Obviously it can be applied for approval, but at that time, miners' income could influence the market, and applying for approval before this halving means that miners have lost their ability to influence the market. You may not believe it, but the fact is that Wall Street is about to control a financial world that exists with the Internet, and it is still a year-round engine. As long as they use some tricks to let giants such as Google, Apple, Microsoft, and Buffett buy and store them, technology companies and wealthy people around the world will follow suit. This is the trend. Do you think this is enough? After they promote Bitcoin to the altar, they will also promote the tokenization of real assets. This is a trillion-dollar market. #内容挖坑 #BTC $BTC $BNB $SOL

Continuing to distinguish between mainstream coins and altcoins for the upcoming cryptocurrency investment logic is no longer valid. This classification method is essentially a remnant framework left over from the early speculative cycle.

In fact, a number of application protocols with long-term effective yield models have emerged on-chain. They do not rely on narrative rotations or are completely subject to emotional cycles but continuously generate value through real usage, transaction fees, and network effects.

For example, protocols like Hyper, AAVE, SKY, Ldo, link, and Polymarket have established stable economic closed loops in their respective niche areas. Among them, especially Hype and Polymarket, are directly challenging the core financial functions long dominated by centralized exchanges, and their growth rate and user penetration curve are not exaggerated to describe.

The future cryptocurrency investment logic will increasingly approach the repricing of infrastructure and application layer value, rather than a simple mainstream or altcoin rotation game.

The potential and rapid expansion demonstrated by on-chain applications is the most important gift for the new generation of holders. With the strengthening of regulatory constraints and the intensifying competition among on-chain protocols, the influence of centralized exchanges on overall market pricing and rhythm is destined to be continuously weakened.

In the upcoming cycle, do not live in the old framework of past speculation; both institutional and retail investors will change their capital allocation logic as the market matures.

$HYPE $ETH $LDO #btc #eth

In fact, the exchange itself is not easy, and it will only get harder. In addition to the tightening of regulations, deeper pressure comes from on-chain applications rapidly eroding market share, and this competition is happening among the most core and high-quality user groups.

Taking the prediction market as an example, from the beginning of the year to now, the overall trading volume has increased by about 130 times. More importantly, most of those participating are high-cognition users. As understanding deepens, participation itself continually reinforces positive feedback; the more they play, the clearer it becomes, and the more invested they are. As I mentioned before, the prediction market is not merely a tool for gambling, but a tool that visualizes and settles human reasoning and judgment using money. Including myself, more and more people around me are starting to participate in Polymarket, expanding their knowledge boundaries while gaining practical judgment experience. Regardless of winning or losing, that positive feedback and satisfaction is something that other tools cannot provide.

The contract market is similar. Taking Hyperliquid as an example, its market share has increased from less than 1% to about 20% in just one year. More notably, its trading strategy transparency is becoming an important reference indicator for many traders, which is nearly impossible to achieve in traditional exchange systems.

The exaggerated growth curves presented by these two on-chain protocols are repeatedly validating the same trend; on-chain markets will not be marginalized but will instead continue to grow and gradually penetrate the core territory of traditional finance and exchanges. The next decade will essentially be an era of on-chain application explosion, and it will also become the golden decade for cryptocurrencies. It is not excluded that a team or individual will create on-chain applications worth billions of dollars in the on-chain market.

$BTC $ETH #btc #eth

Some friends asked me to talk about stablecoins.

In fact, I wrote about this a long time ago. The core of stablecoins is not the anchoring mechanism, compliance framework, or technical details, but the decentralization of the power to issue currency.

Once the power to issue currency is decentralized, it means that currency begins to move towards complete commercialization, and a commercialized currency system inherently possesses strong expansion and aggression. This is not a moral judgment, but a result determined by efficiency and settlement radius.

Because of this, I do not recommend that the EU or ourselves adopt a simple exclusionary attitude towards stablecoins. Exclusion cannot stop its development; it will only hand over the power of settlement and rule-making to others. In contrast, actively participating and building a more efficient, safer, and self-controllable settlement system is far more effective and realistic than standing outside and resisting.

At that time, I almost wrote a book titled "The New Bretton Woods System: On-Chain Currency Wars and the Commercialization Reconstruction of Global Sovereign Currency." It was set aside for a long time. Since I wanted to write it, I knew that one day the EU and domestically would exclude USD stablecoins, but I can now completely tell everyone that exclusion is meaningless and will instead accelerate the influence of USD stablecoins on market share.

If you want to see it, I have time, and I will organize a complete book detailing the expansion measures and countermeasures of stablecoins. However, I believe that whether it's the Euro, RMB, or other currencies, every day of delay in the future will lead to exponentially increasing costs. This is a governance issue concerning the form of currency civilization, just like the transition from an agricultural society to an industrial society. Outdated concepts will lag for a long time, and future generations can only chase after them with indignation.~

$BTC $ETH #btc #eth

Always remember that leverage is a mathematical problem, not a technical one.

Even quantitative hedge funds first solve leverage before discussing strategies.

This is the most expensive class in the financial markets; watching what Livermore does, learning about three waves, four waves, five waves—it's true waves, utterly meaningless.

Either engage with the structure itself, or try to solve the problem; those who can't even get into a good university should not attempt to solve the problem.

$BTC $ETH #btc #eth

My friends and I talked about the Yuhong incident. They said I had written about it before and also discussed the issue of people and religion privately, especially in this circle and within the Chinese-speaking context, why so many people believe in religion.

Years ago, I really enjoyed reading history and had seen quite a bit of the evolution of religions, but now I have forgotten most of the details. However, one thing has always been clear: the reason I kept talking about religion repeatedly later on is that I had been in contact with quite a few so-called big shots for a considerable period of time, and among them, a significant portion had obvious psychological issues.

Yuhong is a typical case. He did not collapse because of believing in religion, but rather, in a situation where serious cracks had already appeared in his psyche, he took religion as his only spiritual support, ultimately leading to the kind of frantic output we saw yesterday.

I have always believed that religion is more suitable to be viewed as a constraint mechanism, rather than a universal answer to understand and explain everything. Once a person begins to use religion to explain the world itself, they are often already on the edge of a mental breakdown.

As for the so-called cultivation of immortality and Taoism, don't kid yourself too easily. One of the most fair things in this world is that no matter what you have done in your life or what identity you have, the end point is actually the same.

However, the cultivation of immortality and Taoism will become more and more prevalent, especially in this circle, and the number of crazy big shots in this circle will also increase. I know a few people who maintain their sleep by taking a lot of medication.~

$BTC $ETH #btc #eth

By the middle of this century, most people will find the division of cities into first-tier, second-tier, and third-tier to be a boring matter. The current urban clusters are formed based on operational models established during the early stages of industrialization.

By the middle of this century, the importance of geography will be systematically weakened. Remote work, AI collaboration, cloud services, and automated manufacturing will make the necessity of crowding into first-tier cities obsolete.

Large companies are shifting from a strategy of sheer numbers to a focus on productivity ratios, moving from competition based on organizational size to competition based on system efficiency. Meanwhile, the location of enterprises is gradually moving away from office buildings, financial centers, and urban classifications, instead focusing on stable energy sources, large areas of low-cost land, and efficient logistics and data links, to build a systemic infrastructure centered on engineering capabilities.

You may doubt me, but I believe that unicorns will no longer crowd onto the same map. Capital will leave the hierarchy of cities and will instead assess whether systemic engineering is reasonable. The forms of powerful countries will ultimately be complex systems with simultaneous results from multiple regions.

Currently, large urban clusters lack a humanistic approach and, biologically speaking, are not suitable for long-term developmental potential. Instead, the concentrated aging population will bring a serious financial burden to first-tier cities. As efficiency is greatly released by AI, humanities will become a new scarce resource, and the humanistic economy will become the main theme of the AI era. However, first-tier cities that have risen through industrialization and sheer numbers will not be able to meet the spiritual needs of young people.

$BTC $ETH $LDO #btc #eth #ldo

This possibility is actually not great. With his resources and connections, even if he really went bankrupt, he wouldn't be biting people everywhere. He is already 46 years old, and it seems he was religious before, so I tend to think that there are psychological issues.

After being in this circle for a long time, it's not uncommon for psychological problems to arise. Many people appear to be normal on the surface, but internally they are already going crazy, just to varying degrees.

In a sense, doing psychological counseling in this circle might actually be a good path. I was chatting with someone before, and he was also obviously showing psychological issues, yet he had long struggled to find a sense of identity and outlet.

Another possibility is that the account was hacked, or he was cursing a bit, and then came out to say the account was hacked. However, his cursing was quite powerful, directly bringing down the hammer, and that group is also quite ridiculous, basically including half of the Chinese-speaking Web2 and Web3 world, and his complaints are also quite absurd, spanning top talents in both Web2 and Web3...

I know some big shots are following me as well, if you can't hold on one day, remember to transfer the coins to me, my mentality is great～

$BTC $ETH #btc #eth

Is this guy likely to have been liquidated? That shouldn't be the case, right? Isn't he on good terms with Chen Weixing? He shouldn't be biting around like this after a liquidation?

The crypto world has ultimately become a battleground for big shots; the believers believe, the mad are mad, the demons are demons, and those who aren't mad can't sleep well either～

$BTC $ETH #btc 335#eth

The founder of the Three O'Clock Community, Yuhong, confronted CZ directly, letting H take on three, revealing that he helped 360's boss Zhou Hongyi create dozens of billions in fake accounts. The most exciting thing is that these people are still in the same group. The Three O'Clock Community is the most famous community in the Chinese cryptocurrency circle, with half of China's Web2 and Web3 landscape inside. It seems that Vitalik is also in this group, but this community has not had any activity for a long, long time.

This guy likely has mental issues; he won't get liquidated, right?

$BTC $ETH #btc #eth

Who Trump ultimately chooses to serve as the Chairman of the Federal Reserve, in line with his push for industrial return, the Artificial Intelligence Genesis Plan, and the overall strategy for a 30% GDP growth target, will become one of the most critical variables in the market's game.

In reality, the U.S. faces a huge funding gap in industrial restructuring and technological competition, while fiscal constraints have not been relaxed simultaneously. With the tax and expenditure structure difficult to improve quickly, expanding government debt to offset the funding gap has almost become the only feasible path.

Additionally, with the accelerated pace of artificial intelligence replacing human resources, for a long time to come, everyone should face the accelerating challenge of financial nihilism. Combining the above points with the U.S. government's promotion of financial on-chain, the cryptocurrency market will become increasingly prosperous.

$BTC $ETH #btc #eth

The ongoing discussion about interest rate cuts has actually had a very limited impact on the market.
Whether it is the Federal Reserve cutting rates or Japan raising rates, these events are essentially highly predictable and have been repeatedly priced in by the market, and do not constitute real sudden variables.

In contrast, whether there is a substantial tightening of liquidity in the capital markets, and how Trump approaches the appointment of the new Federal Reserve Chair, is more likely to become a key turning point that influences market direction, and can be seen as a new round of capital games.

From the perspective of personnel adjustments and changes in cost structure at the enterprise level, unemployment pressure is shifting from cyclical issues to structural issues brought about by artificial intelligence. In the coming years, how to address unemployment is likely to become a core issue that governments around the world cannot avoid.

Many economic data points can be seen as predictable pricing and will not bring significant volatility to the market. Instead, the political combinations that Trump plays will become the focus of market games. No matter how the economy develops, it ultimately serves politics.

$BTC $ETH #btc #eth

Next, we will enter the year-end and year-beginning accounting window for institutions, while Trump will announce the new chair of the Federal Reserve in the coming days. With the time nodes highly concentrated, policy expectations combined with existing fundamentals will drive market volume and create directional trends.

Everyday Insider Brother, Plate Brother, this is the inside story.

$BTC $ETH #btc #eth

1 US dollar monthly return 500%, after one year 2.177 billion US dollars

January: 1 × 6 = 6

February: 6 × 6 = 36

April: 216 × 6 = 1,296

June: 7,776 × 6 = 46,656

August: 279,936 × 6 = 1,679,616

October: 10,077,696 × 6 = 60,466,176

December: 362,797,056 × 6 = 2,176,782,336

So does Brother Dai know how exaggerated it is to have a monthly return of 500%+ or even 4000%+ every month? I often tell those who follow me that many things are mathematical problems, not just because you see someone playing with leverage and think they are impressive, especially those who dare to flaunt a monthly return of 10,000%+. Why would you envy someone who hasn't even attended kindergarten and is trying to show off?～

$BTC $ETH #btc #eth

The institutions in the cryptocurrency circle are likely to push the market up before the end of the year to smooth out the impact of the profit curve caused by the events two months ago; only in this way can they give everyone an explanation.

For institutions, the annual profit curve must look good, otherwise, they cannot explain it to LPs, clients, and bosses.

When institutions are doing accounting, they can also take the opportunity to raise the year-end bonuses just received by the retail investors, and those beneficiaries from that day also need to come out and spend money to calm the public anger; this is top-level insider information.

$BTC $ETH $LDO #btc #eth #ldo

After the events of 1011, only Merl among all my assets did not experience significant fluctuations, which is why Merl is the real Bitcoin.

People can cause each other to die from jealousy, and coins can cause each other to die from envy. At that time, discovering Merl with my wise eyes was something truly worth bragging about.

Help me think about how I should brag?

$MERL $BTC $USTC #merl #btc #ustc

DK seems obviously shocked by the verdict.

He sighed as he was handcuffed and taken away by the bailiff. His lawyers were dumbfounded and silent.

As the elevator doors closed, a supporter shouted, "Stay strong, DK, don't reveal our secret."

$BTC $USTC #btc #ustc

So dramatic, 15 years ago Satoshi Nakamoto posted and disappeared, 15 years later Luna founder DK was sentenced to 15 years.

Interestingly, DK was sentenced to 15 years because he lied, resulting in the judge adding an extra three years to his sentence. The judge likely has a huge data chain, but DK does not admit it.

$BTC $ETH $USTC #btc #eth

In the past two years, all the hype has come from Wall Street: ETFs, AI, the financial chain transformation, and the goldification of Bitcoin. The cryptocurrency circle has hardly produced any narrative of its own; whenever problems arise, it's always someone else's fault, and no one is willing to take responsibility for building the industry. On forums and Twitter, they all talk big, but when it comes to standing up, no one dares to do so.

Only a bunch of pseudo-soldiers are playing a dog-eat-dog game. Although Coinbase is an American exchange, it has always been non-competitive and has been holding on to Wall Street's coattails while watching the dog-eat-dog game.

If saying this two years ago was called a prediction, now it is called reality. The market share of CEX will gradually shrink with the support of various countries for localizing crypto businesses. The decade of crypto gold has ended for exchanges, especially after the recent incident two months ago. There’s no need for predictions; regardless of whom you flatter, there is no sovereignty.

$BTC $ETH #btc #eth

A big brother asked how to speak for SBF. The fact is that two years ago, before the Bitcoin bull market began, it was mentioned that the absence of SBF in the crypto world is a small issue, but the lack of checks and balances and industry planning will lead to a dog-eat-dog phenomenon, resulting in bloody fights. Now, in the current market, everyone can see it’s almost a game of dogs wanting to bite each other.

1. Listening to Wall Street's grand plans

2. Kneeling to American institutions

3. Shifting responsibility

4. Everyone feels they are awesome, but none dare to say a word externally.

But SBF dared to play with AI + blockchain, dared to draw grand plans for Wall Street, dared to provoke the U.S. government. The remaining people, aside from teasing retail investors with memes and bringing in new people to write small essays on contracts, are left with dog-eat-dog behavior, listening to Wall Street’s grand plans, and Wall Street's institutions tease market sentiment every day, creating a dramatic situation.

Clearly, it’s their own market, but it feels like they are acting like fake soldiers.

$BTC $ETH #btc #eth