Today I was watching on-chain transactions until my eyes hurt, only to realize my old problem: seeing a large order slide by and thinking "Is this an arbitrage opportunity?" But many times, you think you're picking up money in the cracks, when actually you're paying fees and slippage for someone else's sandwich... Honestly, it's like gamma trading, looks stable in the short term, but crashes when the tail comes.

Recently there's been a lot of talk about social mining and fan tokens, with the idea that "attention is mining." The more I look at it, the more it seems like: you think you're mining, but you're actually feeding energy to traffic intermediaries. The same applies on-chain—sure, opportunities exist, but first ask yourself: am I the one being squeezed? Anyway, I now place more dispersed orders, chase fewer hot pools, and prefer to miss out rather than become someone else's fuel.