The cryptocurrency market has now completely differentiated into "coins" and "securities." Coins refer to BTC, DOGE, and others that are mined using proof of work (PoW). They have no inherent functionality and cannot generate intrinsic value, similar to gold. The rise in the price of these coins is purely due to the over-issuance of fiat currency, regulatory measures on fiat, and global taxation.

On the other hand, securities are those that are staked using proof of stake (PoS) or issued through code, such as ETH, HYPE, etc. These securities have intrinsic value, and their logic is based on generating profits through a specific project, usually an exchange, and then using those profits for buybacks or destruction, which is very similar to the logic of publicly listed companies using profits for buybacks, leading to price increases.

Therefore, when operating with BTC and DOGE, one should adopt a mindset similar to that of gold; these coins can be accumulated.

As for PoS securities, one should not accumulate them easily; instead, they should be approached with a mindset similar to trading stocks!

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