Because launching a coin domestically is illegal. To be precise, playing solo isn't illegal, but once someone spends even a dime to buy your coin, you are suspected of illegal sale of tokens, illegal issuance of securities, and illegal fundraising, among other charges.

Depending on the influence and boastful status, you might also be charged with financial fraud, organized pyramid schemes, and other crimes.

If the charges are light, the starting sentence is three years; if not, it could start from ten years. The good news is that economic crimes do not carry the death penalty, but the bad news is that life is getting tougher.

Due to the criminal law stipulating that this is illegal, it is very difficult for domestic project teams to grow large. Their financing advertisements can only be published through platforms like Twitter, Telegram, and WeChat groups. If they publicly release project financing information on any domestic website or platform, it’s equivalent to shouting in front of the police station, just short of using a megaphone to invite people to arrest them.

Therefore, domestic projects will run away. The difference lies in how long it takes for them to run. Those who play with domestic low-tier projects know this point; they think they will definitely escape before the project team runs away. Little do they know that some project teams will scam even 100 US dollars and then take off. If you don’t have a vision, they certainly don’t. After all, the cost of launching a coin is just over 100 yuan, and the promotional cost of copying and pasting a few lines in WeChat and Telegram groups can scam at least one person. As long as it exceeds 20 US dollars, they cover their costs, and the rest is pure profit. Why not scam?

Even if he has a vision to grow big and strong, ensuring he will not run away, previously, Mo Da from the Pangu community often sought out elderly people to promote his coins. The coin price once exceeded Bitcoin, but after a sharp drop, others reported him, and he was arrested; the coin directly crashed. (The current price is unclear; I haven’t followed up since.) In just a few months, he raised tens of millions, and it goes without saying that would easily be a ten-year sentence.

If someone is now saying they want to open the largest casino in the country, surpassing Las Vegas, and asking you to invest, aiming to open a branch in every city, giving you shares and dividends, so that you can lie back and make money without working again, would you invest money in them?

According to domestic law, establishing a casino generally results in a sentence of less than three years; the most severe cases only result in five to ten years. However, launching a coin and running a project casually starts from ten years. Both are illegal acts, but running a casino is lighter. You don’t believe others can open a Las Vegas in the country, yet you believe others would risk imprisonment to help you make money, as if the project teams are Prometheus, willing to risk life imprisonment to help you escape poverty and become rich.

The domestic law follows the territorial principle; even if you are abroad, your nationality is still foreign. If you specifically promote your coins to the domestic market, you are committing illegal acts. A few years ago, running shoes were very popular in the country. After a notice was issued, the entire Chinese market rejected them. They immediately issued a statement saying it was unintentional and gave up the Chinese market, directly blocking domestic IPs. The project teams from Korea also backed down.

You are in the country, and your nationality is also Chinese? And you’re still doing this? Aren’t you waiting to go to jail?

As long as someone claims to be a domestic project, regardless of what they claim, they will 100% run away. The best example is Zhao Changpeng, the owner of Binance, who has moved himself and his nationality to the United States. After issuing a statement, he also directly blocked domestic IPs.

As long as he doesn’t change his nationality or flee abroad, he would at least have to serve a minimum of ten years.

With all this said, do you still dare to play? Or do you dare to be a project team? It might be better to just copy coins and hold onto them.