Year-End Feature: Between "High Cognition" and the "Trap of Frenzy," How Can We Achieve True Freedom?
Daii
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January 22nd, 2025

As the chimes of the 2025 Lunar New Year draw near, the blockchain world remains an ever-vibrant temple of euphoria: dazzling lights, boisterous crowds. In one corner, triumphant cheers of overnight riches echo; around the bend, the tragedies of "being rugged" unfold in relentless succession. Looking back over the past year, these heart-pounding triumphs and soul-crushing failures seem like a tragicomedy endlessly replayed on a vast stage. Here, greed intertwines with ambition, deceit collides with innovation, and fleeting hopes shimmer like faint lights in the dark. Beneath the surface, however, something deeper is emerging—a nascent future order centered on "trust" and "freedom."

I. The Fog: A Symphony of Frenzy and Deception

At the beginning of the year, the feverish pursuit of "100x tokens" intensified. New tokens flooded forums and communities, with claims of discovering "the next Bitcoin" often serving as bait for fraudsters. Telegram groups and social platforms brimmed with bold claims of "explosive volume" and "instantaneous doubling." As highlighted in How to Avoid the '100x Token' Trap: the loftier the expectations, the harder the fall when the bubble bursts. There’s no miracle formula guaranteeing meteoric success; often, the more meticulously marketed a token appears, the more it exploits human greed and blind faith.

Accompanying the 100x token frenzy were even more extreme "meme coin scams." These are often likened to a game of musical chairs, where the goal is to avoid being the final bag holder. When a meme coin surges dozens of times in a single day, its dazzling allure ignites fantasies in every onlooker. However, as revealed in The Anatomy of Meme Coin Scams, most influencer-endorsed meme coins inevitably hit zero; behind the glittering stories lies nothing but shattered dreams. Admittedly, some meme coins do offer tenfold or hundredfold returns, but more commonly, they trap those too slow to exit at the peak.

II. Lamentation: The "Chill" of Cold Wallet Breaches

Scammers don’t just target speculators—they also prey on seemingly secure "veterans." A case study, Cold Wallets Aren't Cold? How a Seasoned Journalist Lost $400,000, vividly illustrates that even the most secure cold wallets can fall victim to social engineering attacks or fake phishing links. If experienced users are vulnerable, how much more at risk are everyday users? We often assume that as long as hardware wallets are "offline," they are invincible. Yet the reality proves that "trust" in the digital world is fragile. A single misstep can lead to the voluntary surrender of your seed phrase.

This underscores a vital truth: cryptographic technology may be robust, but the true vulnerabilities lie in human psychology, behavior, and judgment. While we can learn many security techniques, the ultimate safeguard is cultivating "high cognition": staying rational amid hype and resisting the allure of "soaring to the moon."

III. Surprise and Shadow: The Undercurrent of New Technologies

As the conflicting desires for "safety" and "quick riches" pervade the industry, new technologies continue to emerge. Hyperliquid: Shadows and Opportunities Behind the Spotlight is a prime example this year. While celebrated for its achievements, it faced scrutiny over potential security risks. Decentralized innovations in speed, liquidity, and transaction fees broke new records, but speed without stronger decentralization could become fertile ground for hackers. This brings us to a core dilemma in blockchain: innovation often outpaces regulation and risk management.

For average investors, any "new technology" must withstand the tests of the market and time. The more aggressive the innovation, the more glaring its potential vulnerabilities. Before diving headfirst into a new field, it’s better to understand its code transparency, team background, economic model, and token allocation. For most, discerning a project’s essence is far more valuable than rushing to be first.

IV. The Absurd and the Real: Trump’s Metaphorical Gunshot

The union of politicians and the crypto world has been a surreal theater of satire and reality. The Revolution of Trust: Trump’s Metaphorical Gunshot shed light on a U.S. presidential candidate’s dramatic shift in stance on Bitcoin policy. Was it political opportunism or a declaration of support for the future of "decentralized trust"? News like "Trump Launching a Meme Coin" and "U.S. Considers Bitcoin as Strategic Reserve" reflects global anxiety and aspiration for a "trust revolution." Blockchain and cryptocurrency appear to be the new frontier for rebuilding public trust systems.

Such examples abound. From the centralized risks exposed by "WBTC Unreliable" to institutions pivoting toward decentralized solutions, the lesson is clear: genuine value lies not in "pumping the hype" but in addressing fundamental trust issues. This trust revolution isn’t just a slogan; it’s the defining beacon of this digital financial transformation—one that fuses data, value, and consensus to channel disillusionment with centralized systems into expectations for transparency, open code, and verifiable logic.

V. The Lighthouse: The Light of High Cognition and Rationality

Amid the turbulence of the blockchain world—be it regulatory storms, technological iterations, or hidden traps—how should we navigate? The answer lies in cultivating high cognition.

VI. Epilogue: From "Frenzy" to "Rationality," From "Blind Following" to "Self-Control"

In this age of information overload and myriad opportunities intertwined with countless traps, we are all walking a tightrope in precarious high stances. Missteps can lead to devastating falls. There are no foolproof golden rules or ultimate safety nets. The year-end reflections reaffirm that "high cognition" is not about dazzling jargon or fairy-tale wealth myths but about maintaining rational judgment and self-awareness amid chaos.

Perhaps within the year’s tumult, you glimpsed the blockchain world’s grander vision: a more transparent, fair, and self-correcting trust system. You can choose to be a bystander or a builder. But first, ask yourself: do you truly understand the system’s logic, and are you prepared for the responsibilities and risks it entails?

To all who have journeyed alongside us and awakened amidst the dust, may 2025 bring clarity and purpose. Only by embracing human empathy, technological respect, and steadfast commitment to true freedom can we thrive in this evolving landscape. Let us illuminate the unknown future together. Blockchain’s value will only materialize when it aligns with broader societal benefits, transcending hype to become a collaborative and enduring trust-based order.

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About Airdrop Reference

Airdrop Reference is an innovative blockchain education and promotion platform aimed at spreading basic blockchain knowledge and helping ordinary users understand and participate in the development of blockchain technology. The mission of this project is to lower the entry barriers to blockchain, promote high-quality blockchain projects, and allow more people to enjoy the benefits of the Web3.0 era.

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