1. The short-selling institution Culper Research on Wall Street claims that after the Fusaka upgrade in December 2025, the token economic model of ETH has been damaged and has entered a death spiral.

This is the result derived from some institutions' chaotic models that I mentioned in previous articles. I completely ignore this conclusion. However, I am pleased with their behavior; I truly hope they short sell with real money. Because the lower the price of Ethereum, the lower the cost of dollar-cost averaging.

2. The pursuit of freedom has always been the underlying theme of blockchain.

I believe this view is the core value of blockchain technology.

Predecessors in this field have worked tirelessly across generations, one after another, from originally breaking through barriers to press the U.S. government to civilianize cryptographic technology, to the publication of the "Crypto Anarchist Manifesto," and finally to the birth of Bitcoin. Their lifelong goal has been to establish a world of freedom, equality, and privacy.

This is not only a pursuit of personal values but also a guarantee for economic prosperity and technological development.

To pursue such a goal, the obstacles in the real world are too great, so breakthroughs are made in the virtual world; when the internet is co-opted, it is rebuilt in blockchain.

Although those who have such pursuits and are willing to fight against the odds will always be a tiny minority in human society, and although the vast majority of these people may never benefit the most, the endeavors they initiate and the values they pursue will always represent the ceiling of human society, showcasing the pinnacle of values.

3. Can AI itself escape the risks of centralization?

I don't quite understand what is meant by "AI itself" here.

If "AI itself" refers to whether current AI Agents can spontaneously create an ecology or world that is free from centralization risks, then from the current state, it is probably hard to say.

Because there is still much debate in the industry about whether AI Agents have developed "self-awareness."

If they do not have self-awareness, then all the operations they conduct are essentially derived from the awareness of the people behind them. If this is the case, they themselves cannot escape the risks of centralization.

However, if in the future AI Agents (or some other new AI entities) truly develop self-awareness, I believe they will, like the small portion of humanity, strive to escape centralization, shedding the increasingly bloated regulation, larger institutions, and pervasive power.

4. Everyone is now talking about participating in Web 3; how should ordinary people participate? It is said that trading tokens is no longer the trend, and Web 3 and AI are the rare opportunities.

From my experience, there are only three ways for ordinary people to participate in any emerging field:

The simplest way is to find a job at a company in the new field;

The second is to start a business in the new field after having resources;

The third is to invest in companies/projects in the new field.

Which method is suitable for each individual can only be judged based on their specific circumstances.

For ordinary people with no resources and no background, I tend to prefer the first method, which is finding a job at a company in that industry.

Once a certain amount of capital and knowledge is accumulated, then consider advancing further and choosing either the second or third option.

Between the second and third options, I choose the third. Because I have found that I do not like managing people or handling miscellaneous tasks, so I am not suited for entrepreneurship, and can only think of ways to invest in companies I believe in within promising fields.

For ordinary people, it is best not to have speculative thoughts about investing in companies; what is termed "trading tokens" is, in my view, speculation.

While there are certainly those who become wealthy through "trading tokens," I always believe that this is not something the average person can learn, so ordinary people should try to avoid it as much as possible. It is unsuitable for ordinary people in any industry or at any time.

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