The cryptocurrency world has entered the "Great Entertainment Era." This can be seen from this joke about "big shots writing books," indicating that the narrative logic of the entire industry has long shifted from technological innovation to the IP-driven, entertainment-based battle for traffic.
Satoshi Nakamoto, as the spiritual totem of Bitcoin, is being forced to "publish a book," which essentially represents the community consuming this IP, creating topics using his sense of mystery; the "works" of people like Li Xiaolai and Sun Yuchen resemble marketing copies for personal brands, packaging the experience of scamming as "self-cultivation" and writing the stories of platform projects as a "gentle world"—essentially all about harvesting traffic and trust. Zhao Changpeng's "Beyond Borders" seems more like a platform narrative for Binance's globalization, using grand narratives to obscure regulatory risks.
This phenomenon of "big shots publishing books" precisely illustrates that the cryptocurrency space has transformed from an early geek community into an entertainment venue driven by personas, stories, and emotions. People are no longer concerned about technological iterations but are keen on consuming the gossip, jokes, and "golden phrases" of big shots. Market sentiment also fluctuates with these entertainment narratives, with funds hopping back and forth between Meme coins and IP tokens, while true value investing is marginalized.
In this Great Entertainment Era, investors need to remain clear-headed: don’t treat jokes as scripture, and don’t regard personas as faith. True value always comes from technology and community consensus, not from the autobiographies of big shots.