这个周期山寨币的 metagame 是什么？
（以下都是我的主观观点，欢迎讨论）
我个人印象最深刻的是「铭文」和「Memecoin」。
类似于这两种炒作的出现是由「需求」（即使这些需求只是伪需求或不可持续的需求）或者「Ponzi」（高收益高资本效率，源自贪婪）推动的。
一个老生常谈的话题：上个周期对

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What is the metagame of Altcoins in this cycle?
(The following are my subjective opinions, welcome to discuss)
The most impressive to me are "Inscriptions" and "Memecoins".
The emergence of such hype is driven by "demand" (even if this demand is false or unsustainable) or "Ponzi" (high returns and high capital efficiency, stemming from greed).
An old topic: the previous cycle compared to

- The Federal Reserve has lowered interest rates by 0.5%.
- Market participants have mixed views on whether this larger-than-usual rate cut is good news.
It has finally happened: interest rates in the United States are declining.
Federal Reserve Chairman Jerome Powell announced on Wednesday that the nation's central bank will lower interest rates by 0.5%, putting them in the range of 4.75% to 5%.
Bitcoin rose 0.5 percentage points, reaching $60,500, while other major crypto assets such as Ethereum and Solana remained stable.
High interest rates make the cost of borrowing money higher and encourage investors to purchase risk-free government bonds to earn.

What does the Fed’s 0.5% rate cut mean for crypto assets?

Tencent News "Telescope", author: Ji Zhenyu
On September 18th, US time, the Federal Reserve announced a 50-basis-point rate cut at its closely watched September policy meeting, lowering the target range for the federal funds rate from 5.25%-5.5% to 4.75%-5%.
Federal Reserve Chairman Powell stated at the press conference that day that this is the beginning of a series of rate cuts. His remarks clearly announced that the Federal Reserve is officially ending the monetary tightening cycle that began in 2021 and entering a new cycle of monetary easing policy.
This magnitude significantly exceeded market expectations, and also increased market expectations for future economic...

The Federal Reserve cut interest rates by 50 basis points. Market participants: Powell's words and deeds are inconsistent

Source: CoinDesk
Author: CoinDesk Staff
Original Title: Arthur Hayes: 'If They Go 50, That Will Be a Nuclear Catastrophe for Financial Markets'
Translator: Bitpush News Shawn
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Arthur Hayes, the former CEO of BitMEX, believes that if the US Federal Reserve raises interest rates by 50 basis points, it will be a "nuclear catastrophe" for financial markets.

In a recent interview, Hayes stated that the Fed's aggressive monetary policy tightening could lead to a significant market crash. He warned that a 50 basis point rate hike would be "a nuclear catastrophe for financial markets."

Hayes argued that the Fed's actions are driven by political considerations rather than economic fundamentals. He believes that the central bank is under pressure to control inflation, even if it means sacrificing the stability of the financial system.

The former BitMEX CEO also expressed concerns about the potential impact of the Fed's policies on the cryptocurrency market. He suggested that the crypto industry could face significant challenges if the broader financial markets experience a severe downturn.