Over the past couple of days, I’ve been seeing everyone argue again about secondary-market royalties. To put it simply, it’s basically: whether creators should be able to get money from later circulation. I can understand that platforms want to lower costs, and I also get that traders don’t want to pay extra—but once you make royalties in the secondary market fully optional, on the creator side it starts to feel like a one-time buyout, and after that it all depends on emotion and luck… Creation turns into competing to grab the initial hype, and it’s pretty exhausting.

Why am I feeling an itch and want to go buy two? It’s kind of like wanting to throw in a “favors vote”—not because I think it can go up, but because I’m afraid that if I keep staring at the K-line for too long, I’ll start treating people like they’re just part of the liquidity, and then I’ll feel empty inside. Anyway, if I participate a little, it also reminds me that this circle isn’t only about trading.

Also, I should mention: in the group, the talk keeps bouncing back and forth about stablecoin regulation, reserve audits, and all kinds of “de-peg rumors.” And the more anxious everyone gets, the more they love swapping screenshots. The more chaotic it gets like this, the more I lean toward lowering both my positions and my expectations—so I don’t treat “the rules aren’t set yet” as certainty. For now, that’s it.