在過去一年

在過去的一年中，Memecoins在加密詩歌的敘述中佔據了主導地位，導致了一系列備受矚目的活動

The past year has been dominated by the memecoin narrative, leading to a series of events that have left most traders in the red and insiders in the black. With the Libra token alone leading to an estimated $4.4 billion in public losses by some estimations, this cycle contrasts sharply with previous cycles where broader market growth rewarded holders with a chance to exit in profit.

過去的一年一直由紀念因素敘事主導，導致一系列事件使大多數交易者陷入了黑色和內部人士。僅憑天秤座令牌，據估計，估計估計有44億美元的公共損失，這一周期與以前的周期形成鮮明對比，在這種週期中，更廣泛的市場增長使持有者有機會退出利潤。

However, today’s memecoin speculation has created an environment where the average trader’s chances of success are slim to none. How did memecoins manage to drive the market to such a dead end, and will this ever end?

但是，當今的Memecoin猜測創造了一個環境，在這種環境中，普通交易者的成功機會卻很小。 Memecoins如何設法將市場推向如此艱難的盡頭，這將終結？

Investing and speculation are fundamentally different games with distinct rules. Investing isn’t about making quick money. It is about purchasing the right assets to protect capital in the long haul. Usually, investors don’t wait for the “right” entry point but purchase assets to be held for years. Such assets grow relative to fiat currencies based on fundamental factors. For example, stocks, gold and Bitcoin (BTC) rise against the US dollar, which faces unlimited issuance and inflation.

投資和猜測是具有不同規則的根本不同的遊戲。投資不是要賺錢。這是關於購買合適的資產來長期保護資本。通常，投資者不要等待“右”入口點，而是要持有多年的購買資產。基於基本因素，此類資產相對於法定貨幣的增長。例如，股票，黃金和比特幣（BTC）違反了美元，該美元面臨著無限的發行和通貨膨脹。

Some assets have extra growth drivers — rising property demand, growing company profits or even Bitcoin adoption by governments — but these are bonuses. The key point is that your investment is not supposed to lose all its value against the fiat. Investors follow long-term macroeconomic trends, which helps them preserve purchasing power.

一些資產具有額外的增長驅動因素 - 財產需求不斷增長，公司利潤增長，甚至是政府採用比特幣 - 但這是獎金。關鍵點是，您的投資不應該對菲亞特失去所有價值。投資者遵循長期宏觀經濟趨勢，這有助於他們保持購買力。

On the other hand, speculation is a zero-sum game where the skilled minority profits because of the uninformed majority. Typically, such people are chasing quick profits. This is what happens with memecoins. Unlike traditional investments, they lack intrinsic value, dividends or interest returns. While in the case of Bitcoin, the “greater fools” who buy after a trader could be companies adopting the Bitcoin standard, followed by entire nations establishing strategic Bitcoin reserves after the US, in the case of a token like LIBRA, the greater fool is the one who bought it after Javier Milei’s announcement on X. That’s it — there are no more buyers.

另一方面，猜測是一款零和遊戲，由於多數席位，熟練的少數派利潤。通常，這樣的人正在追逐快速利潤。這就是Memecoins發生的事情。與傳統投資不同，它們缺乏內在價值，股息或利息收益。在比特幣的情況下，“大傻瓜”以交易者購買的“大傻瓜”可能是採用比特幣標準的公司，其次是在美國之後建立戰略性比特幣儲備的整個國家，如果像天秤座這樣的代幣，那麼大傻瓜就是在javier Milei在X上宣布X.的人 - 不再是購買者。

Memecoins operate similarly to online casinos. They provide entertainment and promise quick profits but favor only those who create and promote them. Unlike regulated gambling, where risks are well-known, memecoins are often hyped by influential figures — starting from the famous crypto influencer Murad and ending with the US president — and, consequently, social media narratives. The harsh reality is that, like in a casino, the odds overwhelmingly favor insiders and early adopters while the majority suffer losses.

Memecoins的運作與在線賭場相似。他們提供娛樂和保證快速利潤，但只有那些創造和推廣他們的人。與受監管的賭博不同，風險是眾所周知的，紀念因素通常被有影響力的人物大肆宣傳 - 從著名的加密影響者穆拉德（Murad）開始，並與美國總統結束 - 因此，社交媒體敘事。苛刻的現實是，就像在賭場中一樣，在大多數人遭受損失的同時，賠率壓倒性地贊成內部人士和早期採用者。

Recent: Solana’s token minting frenzy loses steam as memecoins get torched

最近：索拉納（Solana）的象徵薄荷狂熱失去了動力，因為模因被燒毀

The memecoin craze clearly thrives on speculation and psychological triggers — this is the game that evolves emotions and leaves players’ wallets empty. Platforms like Pump.fun, which facilitate memecoin launches, have reaped massive profits, proving that selling shovels is the best way to profit from a gold rush. How can opening a casino require a license and choosing a.

Memecoin熱潮顯然在猜測和心理觸發因素上蓬勃發展 - 這是演變情緒並使玩家的錢包空的遊戲。促進Memecoin推出的Pump.Fun等平台已獲得巨額利潤，證明銷售鏟是從淘金熱中獲利的最佳方式。打開賭場如何需要許可並選擇一個。