Recently, something stimulated me again, making me feel like I was back five years ago. It made me once again understand what it means to be 'under the shade of a big tree' and that choices are greater than efforts.
What happened? Does everyone remember the wave of inscriptions on BTC at the end of 2023? The boom in inscriptions led to a number of new projects. After careful selection, I focused on an inscription project based on Bitcoin's Nostr technology and the Lightning Network, LNFI.NETWORK. My thought at the time was that BTC is currently the network with the highest PoW computing power, the most decentralized, and also the safest network. The first-generation inscription technology directly increased the network's burden, which is not the future direction of development. In comparison, using the Lightning Network and Nostr sacrifices some centralization, but it doesn’t take up much of the mainnet's resources and is fast. This project has potential for TGE in the future, and I thought that as an early user, I might be able to get some airdrops.
The LNFI project is indeed good. It was listed on Binance Alpha last week, proving that my judgment on projects is still decent. I quickly opened the network, logged in, and checked how many airdrop tokens I had. It turned out I only had 27 LN airdrop tokens. In comparison, on Binance Alpha, with just 15 Alpha points, you can get 600 LN airdrops. A year and a half of effort is not worth as much as 15 points on Binance Alpha. Once again, I experienced what it means to be 'under the shade of a big tree.'
Binance and BNB are currently the biggest tree in the crypto circle, concentrating the most traffic and financial resources in the crypto world. Projects that can be listed on Binance have the opportunity to achieve a relatively ideal valuation and liquidity. Therefore, project parties must pay some costs to gain the opportunity to be listed, such as providing more benefits to Binance users and BNB holders, creating a situation where the strong get stronger. This situation is also difficult to change in the short term.
This reminds me of 2020, the time when I had a 'sudden realization' and started researching and investing in BNB. At that time, I heavily invested in a altcoin that was very popular in 2017-2018, which was delisted by Binance in 2020. Without a doubt, the price plummeted, and I suffered heavy losses. Back then, Binance was not as powerful as it is now, but in terms of traffic and trading volume, it was already the largest in the crypto world. This made me seriously think about one question: which coins would not be delisted by Binance? First, Bitcoin (BTC) won’t be, as it is the primordial being in the crypto world; second, BNB won’t be, as it is the only token issued by Binance itself. Bitcoin is already quite expensive, while BNB is still relatively cheap, so I converted the remnants of my heavily invested altcoin into BNB.
A casual note today, writing wherever my thoughts take me, that's it!
The above article is purely a personal opinion and should not be considered as any investment advice.