Pessimistic take: The last few years of Chinese crypto development feels like watching a slow-motion collapse.
Think about it - regulatory crackdowns, exchange exits, mining bans, talent bleeding out to Singapore/Dubai. What was once a powerhouse of innovation and liquidity is now fragmented.
The builders who stayed? Fighting with one hand tied behind their backs. The capital? Moved offshore or went dark. The retail energy? Channeling into memecoins on foreign chains because local opportunities dried up.
Maybe we're in a rebuilding phase. Maybe this is just the cycle before the next wave. But right now? It hits different when you see what could've been vs what actually is.
Anyone else feeling this or am I just doom-pilling too hard?
Think about it - regulatory crackdowns, exchange exits, mining bans, talent bleeding out to Singapore/Dubai. What was once a powerhouse of innovation and liquidity is now fragmented.
The builders who stayed? Fighting with one hand tied behind their backs. The capital? Moved offshore or went dark. The retail energy? Channeling into memecoins on foreign chains because local opportunities dried up.
Maybe we're in a rebuilding phase. Maybe this is just the cycle before the next wave. But right now? It hits different when you see what could've been vs what actually is.
Anyone else feeling this or am I just doom-pilling too hard?