Projects bought fake Twitter and Telegram member counts to create artificial hype. Retail investors were lured in. Once they bought, the project collapsed quickly.
Small exchanges advertised high-yield wealth-management products with daily interest. Many users deposited their coins expecting easy earnings. Suddenly the platform shut down, servers went offline, and all user assets became unwithdrawable, with no way to seek redress.
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A slowly-rising project is not necessarily bad, but a fast-crashing project definitely has flaws.
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Only three certainties exist in crypto: volatility, exploitation, and total-value collapse.
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During Bitcoin forks, many retail investors bet on fork-coin surges and invested heavily. Fork-coins had almost no liquidity and crashed to zero quickly.
A decade or so ago, China's policy of 'not making trouble'was so in line with the Confucian image of ancient gentleness, kindness, courtesy, frugality, and deference. And with Taoism's governance by non-action, a prosperous era emerged. The current situation: no matter what the upper level says, the lower level no longer believes a single punctuation mark. It's like after Kim Jong-un's double meets Putin's double, everyone knows the other is fake and has no authority.
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