Simple as that—I think the reason #tapeout is playable is:
1. This project team is very good at it. Their playbook is systematic, not something for complete rookies. We definitely don’t play with amateurs—no way.
Whether it’s a decentralized community or some run-of-the-mill group running a cashflow pipeline—anyway, they’re skilled at it and experienced in their methods. Playing with project teams like this is way better than playing with rookies.
2. This situation already has the vibe of having amassed a billion dollars.
Even if it’s a team working on continuous cashflow, at this point they’re still just as fired up internally. When they hold internal meetings, they’ll still come to the decision to “go big, make more money.” Anyone who’s been told too early not to get carried away will end up being scolded in internal meetings at this time.
3. Analyzing the front-row folks and old miners is meaningless. Just looking at the chip distribution structure, it’s basically no different from other memes. Wasting time.
The only meaningful, distinguishing thing is the source of consensus, and the process of building it, as well as the process of copying and fracturing it. For example, when the bull comes, the project team has already run off; they probably only made tens of thousands of u.
He saw the hype and the angle of Niu Lai, but he didn’t see Niu Lai’s true value as an IP. He didn’t see the IP’s prospects for replication and expansion. As a project team, it’s only fair that they get sliced by the market and retail investors.
By the way, every bull cycle has cases where the project team gets cut off by the market and retail investors. After the project team sells out, they leave happily; once retail takes over, there are plenty who then rush in for 30x, 100x.
#tapeout’s consensus comes from “on-chain circuits and the imagination they extend”—that’s the source of consensus. Whatever CZ posts on X is just a push, not the driving force.
As for where this consensus originates, in my own view, it’s rooted in genetics—at least to the extent of having grown into someone with the capacity of a billion-dollar scale.
4. @Blonskr Little kid brother’s persona is great. Personally I give it 90 points, with the remaining 10 saved to see how it plays out. Does it matter whether he’s a real sixteen-year-old high school student, or whether there’s a whole team behind him supporting him?
To me, only this persona matters most. This persona injects endogenous genes into the business story and the consensus’s fracturing and expansion.
Moreover, he’s so hardworking—whether it’s just him or a whole group of people. Anyway, this persona is doing pretty well.
5. In the end, it’s still a crypto-currency project—a crypto financial project. As everyone knows, all financial projects are Ponzi schemes, and crypto is no exception. So criticizing this point is even more pointless. Talking about plates, drum-passing, handing off bags to the next person—blah blah—it's all wasting time.
Even if you count the stock market—one by one—who isn’t first buying after they believe, and then believing after they sell?
We’re all ancient fox spirits—so stop pretending you’re a virgin, please.
6. The only meaningful question is: how much money can you use to play with without feeling it hurts?
If there is, you can consider playing. After all, the current volume of front-row miners isn’t that big. With just a bit of capital, you can rush into the top 100 holders.
What if it’s a billion dollars? What if it exceeds Ordi?
If you need to tap your reserves, or even go borrow money, then go hustle and make money from bricklaying—this isn’t for you.