Pessimists are often right, but only optimists can change the world.

I see a lot of people sharing that post about “wasting 8 years in Crypto.” I resonate with it deeply, but also feel it’s overly pessimistic. Here are a few objective thoughts to add:

1. I also entered the space in 2017, so it’s been exactly 8 years for me as well. Although there have been ups and downs, I believe joining the Crypto field has been the biggest opportunity of my life. In terms of personal growth, wealth accumulation, resources, and networking, it’s far surpassed my 10+ years of experience in the previous internet era.

This is an absolute fact, and I’ll always be grateful for Crypto.

2. Honestly, from a purely experiential perspective, the Crypto industry has become increasingly mature over the past 8 years, but it’s also gotten worse. The original pure cypherpunk spirit is gone, so is the Holder belief, the drive to continually learn and innovate, and the unwavering faith that Crypto would change the internet.

What replaced it is pure PVP games and nihilistic financialism. Even though it’s hard, disgusting, and maddening, for the sake of “making money,” so many people wear masks and pretend to enjoy it.

3. The crypto industry itself is fundamentally built on “consensus.” The difficulties everyone feels are direct manifestations of consensus fragmentation. At first, most people believed; now, only a few do; in the future, maybe most will leave. All the costs stem from the breakdown of consensus.

That’s exactly why I keep calling on top exchanges, OGs, outstanding builders, and devs to regroup and reestablish consensus, fueling on-chain innovation together. If we only pursue division and short-termism, any fake prosperity we manufacture will eventually lead to even harsher consequences, and in the long run, no one wins. Yes, crypto for good! For you, me, and everyone.

4. Undoubtedly, we’ve reached the crypto industry’s darkest hour. Maybe some people don’t care, because their addiction to gambling and self-interest has overshadowed the growth of the industry itself. But I still believe that most people want the industry to grow healthily, for the market to function in an orderly way, and even if you’re in it for the money, you can do it with integrity.

Yes, even after seeing the true nature of the casino, most people still project their best hopes onto it. Pessimists are often right, but optimists change the world. I choose to be the one who “still loves the industry after seeing the truth.”

5. The biggest paradox in the Crypto industry right now is that we’re using the most advanced technology to repeat the most primitive financial games. Technology and application are disconnected, value and price are decoupled. It sounds contradictory, but it’s even more ironic.

Fortunately, those who jumped into Crypto in earlier cycles have really brought in a lot of new things. The DeFi Lego tower hasn’t collapsed yet. Collateralized lending and mining have sustained many DeFi farmers; NFT, layer2, and Agent booms are mocked as bubbles, but it’s undeniable that every bubble burst leaves behind real value.

Because of its unregulated nature, the crypto industry has unique advantages in kickstarting new narratives, trial and error, and iteration. That’s what gives us—speculators or restless innovators—more opportunities to seize. This core of the crypto industry has never changed.

That’s all.

I love Crypto, precisely because of its complexity and ever-changing nature. The ones who truly change the world are never those who run away after seeing the truth, but those who choose to stay and fight after seeing it. Let’s encourage each other.