#隐私币和隐私钱包 After reading this story, the first thought that came to my mind was—history is repeating itself.

In the 2017 cycle, I saw too many projects die because of "race to capture the track." At that time, everyone was fighting to get listed on exchanges, raise funds, and generate traffic. And the result? The vast majority of projects disappeared into silence. Those that survived were actually the ones that truly solved problems.

This entrepreneur's approach is actually based on this logic—Monero was expelled from exchanges, which is a fact, and the demand indeed exists. He saw this gap. But what I want to say is, he didn't win because of speed, but because he found a market gap with real pain points.

The story of privacy coins actually echoes this point strongly. Remember? Privacy coins used to be the darlings of the crypto world, but later they were heavily suppressed by regulators. But look, the demand didn't disappear. It just shifted from centralized exchanges to decentralized ones. This entrepreneur actually seized this trend—after traditional financial systems close their doors, people will look for alternatives on the chain.

The mistake he made—deploying products on the public testnet and then being copied—this is even more painful from a historical perspective. How many projects have been snatched by competitors because of such basic mistakes? I've seen too many. But the truly smart move was that he didn't compete with big players over the same cake of foreign exchange trading pairs, but instead turned to do what others ignored. This is called "strategic adjustment," and it’s also the key to survival.

The $50 million valuation in two weeks sounds very attractive, but what I care more about is the underlying logic. If this demand is really so strong, what does that mean? It indicates that the needs for privacy and decentralization haven't disappeared—they've just been suppressed underground. Now they are being awakened. Based on my years of experience in project analysis, such suppressed demands often lead to a certain breakout point.

However, I have to pour some cold water. How long can the money raised in two weeks sustain? Products are easy to copy, and network effects are the real moat. He talks about building a leading platform and creating incentive systems, but those are not simple. Historically, projects that eventually become second-rate failed during the scaling phase.

The lesson this story gives me is—look for opportunities in the gaps of the cycle, but don’t just chase the hype. You need to verify whether this demand is real. If the revival of privacy coins really happens, it won't be because of a single product idea, but because of the pressure accumulating across the entire ecosystem. By then, the truly wise players will be those who are already preparing for that moment.