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XCH (Chia) originated in 2021, founded by BitTorrent inventor Bram Cohen, packaged as an "eco-friendly green Bitcoin alternative".

It adopts a Proof of Space and Time consensus, using hard drive space for mining, claiming to be a thousand times more energy-efficient than PoW. After going live on the mainnet, it quickly became popular, reaching a high of $1645, with a market cap exceeding $30 billion at one point, attracting countless miners to hoard hard drives for mining, and the community of users expanded rapidly.

However, upon closer inspection, the project shows obvious signs of speculation: high return temptation: it claims low energy consumption, no need for GPUs, and sustainable mining, attracting users to invest heavily in hard drives with high return expectations.

Referral mechanism: it relies on pre-mining and community promotion to draw in early farmers, forming an expansion model that heavily depends on hardware investment.

No actual value support: ecological development is slow, with very few real business applications and DApps, mainly relying on the "green concept" to maintain heat, lacking sustained demand.

The most shocking part is: after the bear market in 2022, hard drive prices crashed, mining revenues plummeted, and the price of XCH fell over 99% from $1645 to currently about $4.6, with a market cap evaporating over $29 billion.

Many early farmers sold hard drives to cut losses, and holders suffered significant losses, leading to a sharp decline in community activity. The reason why such projects are bound to fail is: excessive reliance on concepts and hardware speculation; once the market cools down and real applications cannot keep up, selling pressure concentrates, liquidity dries up, and a price avalanche is just a matter of time.

Investing requires caution, rationality is key, and protecting your assets is the right way.

Did you hoard hard drives to mine XCH back then? Are you still holding? Let's share experiences in the comments and stay vigilant! #XCH #硬盘挖矿 #加密风险

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The Past and Present of Pi Coin

Pi Coin (Pi Network) originated in March 2019, launched by a team of Stanford graduates, packaged as a revolutionary project of "free mining on mobile phones." Users only need to click the APP button daily to accumulate Pi coins at zero cost, claiming to use a unique consensus mechanism that requires no electricity.

Through invitation codes and safety circles to attract new users, the project spread virally, attracting over 60 million users, with the community "pioneers" rapidly expanding, once viewed as "the most inclusive entry into cryptocurrency."

However, upon careful analysis, the project exhibits obvious characteristics of a Ponzi scheme: high return temptations: claiming free mining and future wealth from listing, attracting users to persist for six years, yet long-term lack of real trading and withdrawals.

Recruitment mechanism: invite rewards, tiered commissions, safety circle verification, encouraging the development of downlines, forming a typical multi-level expansion model.

No actual value support: mainnet launch repeatedly delayed, very few ecological applications, tokens mainly rely on user data and advertising for maintenance, lacking independent demand.

The most shocking part: after the mainnet opens in February 2025, the price of PI coin skyrocketed to 1.6 USD in the short term, and then quickly collapsed, dropping over 80%, with frequent insider selling allegations (suspected team-related wallets dumping 12M tokens), resulting in a market value evaporation of tens of billions of dollars.

Tens of millions of users mined for six years but found it difficult to withdraw or became deeply trapped, leading to a collapse of community trust. The reason these types of projects are destined to fail is: excessive reliance on new user recruitment and promises to maintain excitement; once the pressure of dumping arrives and the truth is exposed, user loss and value collapse is just a matter of time.

Investment must be cautious, reason should be primary, and protecting one’s assets is the key. Have you mined Pi? Are you still holding coins? Let's share experiences in the comments and stay alert! #Pi币 #PiNetwork #手机挖矿 #加密风险

The Past and Present of CRO Token

CRO Token (Crypto.com Coin) originated in 2018 when the project team Crypto.com launched the MCO card project, packaged as the concept of "Crypto Visa Card + High Cash Back," attracting users to purchase cards and lock MCO tokens to enjoy benefits.

In 2019-2020, the team boldly migrated MCO to CRO, claiming that the new token would support the entire Crypto.com ecosystem, including exchanges, DeFi wallets, NFT markets, prepaid card cash back, etc. It was once packaged as a "one-stop platform for crypto life" and prominently sponsored F1 racing and NBA arenas (Crypto.com Arena) during the bull market in 2021, with a market cap peaking over $20 billion and rapid community user expansion.

However, upon careful dissection, the project exhibits obvious Ponzi scheme characteristics: High return temptations: The early Visa card promised up to 8% cash back, airport lounges, and other benefits, attracting users to lock a large amount of CRO tokens; later, it continuously launched high annualized staking and priority on Launchpad, with returns far exceeding the market average.

Referral mechanism: Referral rewards, tiered commissions, supercharger events encouraged users to bring in new users and lock more tokens, forming a typical community expansion model.

No actual value support: Although the ecosystem has exchanges and payment cards, real user growth and trading volume rely on continuous subsidies and marketing. The token mainly relies on platform buybacks and burns to maintain its price, lacking independent demand drivers.

The most shocking part came after the arrival of the bear market in 2022 when Crypto.com significantly reduced card benefits (cash back was cut from 8% to 1%-0%), triggering massive user unlocking and selling. The price of CRO plummeted over 90% from $0.9 to a low of around $0.05, with a market cap evaporating over $18 billion, leaving millions of holders and locked users with nothing, and community trust nearly collapsed.

The reason such projects are doomed to fail is due to excessive reliance on platform subsidies and marketing to maintain token value. Once the bear market hits or benefits shrink, the funding chain breaks, and selling pressure concentrates, making a price avalanche only a matter of time. Investment requires caution, rationality is key, and protecting your assets is the way to go. Have you ever held CRO? What were you thinking when the card benefits were cut? Share your experiences in the comments and stay alert! #CRO #Cryptocom #加密风险 #资金盘骗局

$ETH is disappointing, the army will never be enslaved! #ETH走势分析 #Ethereum