2025-12-05 07:20:40

Just got back from Dubai and wanted to share a few thoughts that left a deep impression on me.

First, about platforms. A leading exchange is really starting to resemble a super-ecosystem in the Web3 space. Various business lines are working in synergy, and their ability to attract traffic and resources is visibly growing stronger. The approach of these ecosystem-level players is becoming very similar to that of traditional internet giants.

Next, about people. I met quite a few KOLs this time, and it’s clear that everyone is feeling anxious—they don’t want to just be mouthpieces or traffic tools. Everyone wants to move up a level, transitioning from executors to real decision-makers with influence. The urge for identity transformation is pretty strong.

Finally, the market. I had in-depth conversations with a few friends who have a clear perspective, and everyone keeps reminding me: don’t get carried away by the current hype; the problems masked by a bull market will all be exposed in a bear market. What we should be doing now is anticipating a potential winter, not getting lost in the illusion of prosperity.

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TestnetFreeloader

· 6h ago

I can see through those KOLs' anxiety—put simply, they just want to cash out and become big shots. They're really scared by the problems that have been covered up; when the bear market hits, everything gets exposed. The whole exchange ecosystem game is intense—the internet model has already been copied over. Stock up on ammo before the winter comes, that's the real deal. If you only listen to stories of prosperity, then get ready to be taken advantage of. All the KOLs want to turn things around and become market makers—I get the mentality, but it's pretty laughable. Came back from Dubai and immediately started talking bearish—guess they've really seen some wild waves.

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GasGoblin

· 12-05 07:43

The approach used by leading exchanges is basically just the playbook of big internet companies being replayed in crypto. I can understand the anxiety of KOLs—nobody wants to become just a mouthpiece, but how many can really move up? I'm not afraid of the coming winter; what worries me are those still indulging in self-satisfaction who will be caught off guard when the time comes. I think these observations from Dubai are pretty clear-headed—not fooled by the superficial prosperity. The pitfalls hidden in the bull market will have to be filled sooner or later. It's better to think things through now than to scramble at the last minute. The stronger the platform's siphoning effect, the harder it gets for retail investors. It's a cycle. It's basically a reshuffling—the winners simply eat up the traffic and attention of the losers. Rather than trying to predict the winter, it's better to think about how to survive after it, haha. KOLs want to be market makers, but that's a bit of a pipe dream. Market influence has never been about just talking.

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NftBankruptcyClub

· 12-05 07:42

Haha, all the KOLs are anxious, which shows this wave is indeed a bit hollow. Better stay cautious. --- The stronger the platform’s siphoning ability, the scarier it is. Really afraid there might be another purge someday. --- “The bull market covers up problems”—that’s spot on. The winter is indeed coming. --- From being a mouthpiece to becoming a market manipulator? What a joke, just wanting more say in fleecing the newbies. --- Everyone returning from Dubai is talking about predicting the winter. Anyone still charging ahead now is truly a warrior. --- This kind of ecosystem play is basically a reassertion of centralization. Web3 is starting to feel like Web2. --- It’s normal for KOLs to be anxious. Once the hype drops, they lose all their value. --- I agree about not getting lost in the illusion of prosperity, but how many people are really listening? --- When you talk about enhancing siphoning ability, it’s basically just the Matthew Effect. Small players are done for.

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GateUser-40edb63b

· 12-05 07:36

Platform siphoning, KOL anxiety, market illusions... sounds familiar, yet a bit vague. In the end, survival depends on who can withstand the cold the best.

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GasGuzzler

· 12-05 07:35

Sigh, all the KOLs want to be the big boss—I get that mentality. Exchanges are really starting to play the ecosystem game now, not much different from BAT. To be honest, this bit of hype right now does make people lose their heads, but you really need to figure out how to survive the crypto winter. Still anxious about some kind of identity transformation—in the end, it’s all about wanting the power to fleece newcomers. When the bull market mask comes off, how many can really stand their ground?

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ExpectationFarmer

· 12-05 07:28

The platform takes everything, and KOLs want to take over the platform too, but in the end, it's all about competition. But wait, what are those friends who have "seen through it all" doing now? Are they really accumulating coins or just constantly talking about the bear market and then FOMOing? When the bear market comes, everyone has to kneel.

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