Do you remember the purer days of cryptocurrency?

Back then, the entire market was full of vitality—banned, surrounded, and ridiculed. Every month, someone would declare Bitcoin dead, but it never truly died. Holders were mocked as lunatics, but that persistence instead gathered true believers.

Now everything has changed. Politicians started to show muscle, competing to declare how "crypto-friendly" they are. Regulatory agencies stopped the crackdown and instead talked about "clear regulatory frameworks." Institutional capital flooded in, turning this movement into part of asset allocation.

In the wild growth period of the past, the very fact that it was not recognized by the mainstream was what made it most attractive. Today, the ecosystem is mature, politically correct, and制度完善—it's hard to say whether it's progress or some kind of compromise. The genuine spirit of risking everything for conviction seems to be gradually fading away.