Citing the classic economic experiment "One Dollar Auction" as a starting point, it reminds us of the systemic risks hidden in Binance's ALPHA activity. The auction experiment designed by Martin Shubik of Yale University shows that when bidding rules force the top two bidders to pay their bids, even if the item is only worth 1 dollar, the final bid price will inevitably far exceed its actual value (Harvard and other university experimental data ranges from 20 to 66 dollars).
We precisely correspond this model to the current Binance ALPHA activity: users are forced into a "infinite doubling volume" coercive game, where the exchange continuously profits through transaction fees, the project party realizes high-level cashing out, while participants gradually fall into the psychological trap of "shifting from pursuing profit to loss compensation".
This model is essentially a centralized mechanism of systemic manipulation of human nature, utilizing loss aversion psychology to construct addictive gameplay, creating a structural misalignment of interests among exchanges, project parties, and users. Completing the closed loop! Under the vicious cycle of fee consumption and forced betting, participants will ultimately face the inevitable loss caused by the "red-eye effect".
We should warn that this kind of gambling mechanism is no different from Pandora's box, and the only way to break it is to stop-loss participation, while also calling on exchanges to actively optimize incentive mechanisms during commercial peaks, being wary of the systemic risks brought by over-drawing short-term interests, avoiding falling into the traditional financial traps again, and ultimately achieving sustainable development of the crypto ecosystem. We hope Binance can see this! Wishing Binance eternal prosperity! @币安Binance华语 @币安广场
