In the long run, the US stock market is a positive sum game, while encryption is a zero sum or even negative sum game. The core logic of the US stock market is corporate profitability+technological progress+social development. If you buy an ETF or a leading company, even if you don't choose the right time, as long as the position is not full and you keep investing, there will usually be returns after a few years. And cryptocurrency: The vast majority are Ponzi structures, air coins, and unlimited issuance A bull market relies on storytelling to attract money, while a bear market is directly liquidated to zero. Except for BTC and a few coins, other "projects" are actually just machines for harvesting leeks.