In the fifteenth year of blockchain technology development, this industry, which once took 'decentralization' as its banner, is falling into a new trust crisis. The phenomenon of certain KOL groups in the Chinese-speaking regions gradually becoming tools for capital harvesting reflects a worrying collapse of values amidst the wave of technological innovation. When professional discourse becomes a scythe for cutting leeks, and industry influence is transformed into a pipeline for wealth transfer, this capital game masquerading as technological innovation is overdrawn the future credibility of the entire industry.
1. Knowledge Dimensionality Reduction: The Reverse Collapse of Professionalism
Certain KOLs, claiming to be 'industry experts,' are creating a new type of information asymmetry. They weave knowledge barriers with obscure terminology, simplifying complex blockchain technology into footnotes of wealth myths. On social media platforms, the predictive models of these 'market analysts' are often built on mystical K-line interpretations, and their analytical frameworks lack a foundation in econometrics and violate basic financial principles. When market volatility becomes a prop for their self-proclaimed prophecies, so-called 'precise predictions' are merely illusions created by survivor bias.
This reverse collapse of professionalism creates a distorted cognitive ecology. Investor education degenerates into emotional manipulation, and risk warnings are distorted into panic marketing. Some KOLs tout the 'All in philosophy' during bull markets and sell 'apocalypse theories' in bear markets, their rhetoric perfectly resonates with market cycles. This spread of anti-intellectualism is eroding the technical credibility accumulated over more than a decade in the industry.
2. Industrialization of Harvesting: The Barbaric Growth of Grey Interest Chains
When the flow economy is deeply coupled with encrypted finance, a unique harvesting ecosystem is born. The monetization paths of certain KOLs have formed a complete industrial chain: from packaging 'value projects' to manipulating market expectations, from creating FOMO emotions to completing token distribution, each link is meticulously designed. The so-called 'project evaluation' is actually a paid soft article, 'community operation' is actually information hunting, and 'strategic cooperation' is actually profit sharing.
This new type of harvesting model has stronger concealment and destructiveness. By grafting traditional capital pools onto the blockchain concept, it uses the technological halo of smart contracts to cover its Ponzi essence. When investors are immersed in the collective narrative of a 'technological revolution,' the project parties and KOLs have long completed wealth transfer through dark pool trading. What is even more concerning is that certain trading platforms form a community of interests with KOLs, creating a complete evil loop through means such as manipulating coin listing mechanisms and creating illusions of trading volume.
3. Value Distortion: The Spiritual Pollution of Speculation
The wealth myths shaped by certain KOLs are poisoning the foundational values of the industry. They beautify financial speculation as a 'cognitive revolution,' package market manipulation as 'wealth codes,' and construct a distorted value coordinate system on social media. This value distortion is not only reflected in the investment field but also permeates the cultural fabric of the industry—technical research is less valued than promoting projects, ecological construction is less profitable than speculating on coins, and long-termism loses to instant gratification.
This spiritual pollution is particularly evident among the new generation of practitioners. When 'passive income' and 'hundredfold myths' become professional beliefs, when business clubs replace developer conferences as the social main stage, this industry, which should be forward-looking, is falling into the abyss of nihilism. The luxurious lives flaunted by certain KOLs are less a proof of wealth freedom and more a symptom of value disorder.
Industry Self-reflection and Ecological Reconstruction
It is comforting that true value guardians are still diligently working. Those development teams breaking through at the protocol layer, the entrepreneurial companies solidly landing at the application layer, and the scholars tirelessly researching in the theoretical field form the backbone of the industry. They prove that blockchain technology should not be a zero-sum game casino, but can become the cornerstone of the value internet.
While it is important to improve the regulatory system and deepen investor education, industry self-discipline is the key to ecological reconstruction. It is necessary to establish a KOL reputation evaluation system, improve project information disclosure mechanisms, and promote the normalization of media supervision. Exchanges, investment institutions, and developer communities should form checks and balances to jointly maintain industry credibility.
The true revolutionary nature of blockchain technology lies in reconstructing production relationships through algorithmic trust. If practitioners no longer believe in the trust cornerstone built by code, this industry will lose its fundamental value. When the tide recedes, only those who truly create value can navigate through the cycle fog and witness the dawn of the technological revolution.
