How to systematically learn and discover new projects? | Q&A

1. Will the issuance of Beacon tokens dilute the value of Magic?

When I saw this question, I thought of a more general situation: there seems to be no major innovations in the entire crypto ecosystem right now, which seems to lead existing projects to do only two things to maintain hype and attention:

One is to launch chains: either a second-layer expansion or simply create a new chain;

The other is to issue tokens: either launch MEME tokens or use an existing application/play to issue tokens with little change.

Especially the issuance of tokens has almost become a "cure-all" panacea. It reminds me of a joke from many years ago: "There’s nothing that issuing tokens can't solve." Anyway, issuing tokens has no downsides. For project teams, it’s almost zero cost. If successful, they make a profit; if not, they lose little.

But how long can this hype and attention last?

I find it hard to judge. But my interest in these chains and tokens is waning.

Specifically regarding the issuance of Beacon tokens, I think if it’s just about issuing tokens without any new applications afterward, even if there is hype now, it probably won’t last long. Even if it can currently dilute the value of Magic, the amount it can take away won’t be much.

From the perspective of the entire ecosystem, people’s expectations for the price increases of Bitcoin and Ethereum are mainly based on the loose financial environment and the influx of external funds. Almost no one is concerned about whether internal innovations will drive up token prices.

Although I am optimistic about this external factor-driven increase, it still falls far short of the increase I expect to come from internal causes.

It’s like we’ve all eaten meat, but the taste and quality of hormone-fed meat just can’t compare to that of free-range meat.

2. If wealth doesn’t come through urgent doors, does it mean it will quickly leave once it enters?

That’s my experience. Even if you hit a big fortune or think you are "very capable" and quickly earn a large sum of money, that money will soon slip away through various means.

It feels like waking from a dream, falling from heaven back to earth.

3. How to systematically learn, research a blockchain project and ecosystem, and discover new projects?

I have shared quite a bit about this in the past.

There’s a very important mindset: never think there are shortcuts; this process requires real hard work and effort; don’t expect to achieve instant wealth from some "wealth code."

With this mindset in place, the next step is to read more and learn more. Start with the white papers of Bitcoin and Ethereum, and look at the white papers of well-known projects. Additionally, you can study the development history of this ecosystem and examine historical cases of success and failure.

During the learning process, think more and ask questions.

From my own experience, at first, many of my questions could be answered by seeking help from others, but as time went on, the number of people who could answer my questions decreased, and I increasingly felt lonely. Many questions, in the end, I could only find answers for myself, as there were hardly any ready-made solutions. Although this process can be quite torturous, it is precisely through this that one can grow more.

I discover new projects in the same way as many others: by reading various media within the circle and checking Twitter.

4. Is the Arweave ecosystem project AO, which claims to be an Ethereum killer, valuable?

I have shared this project several times in previous articles. Overall, I have a good impression of it, but whether it can ultimately realize its vision remains to be seen.

Perhaps my sources are limited, but to my knowledge, I haven’t seen this project "claim" to be an Ethereum killer; the project team seems to be relatively low-key.