Recently looking at options markets, the more I observe, the more I feel that time value is quite "realistic": buyers wake up every day being drained by it, and if the market stays flat, it's like their wages are being slowly eaten away by rent; sellers, on the other hand, collect premiums and seem stable, but they're actually trading time for tail risk, and when a sudden big move hits, all the gains accumulated before could be wiped out... Basically, everyone is anxious about their own gains and losses.

By the way, I’ve also been thinking about this recent trend of social mining and fan tokens—this "attention as mining" concept—feels a bit like buying time value: the hype is real, but decay is quick, and in the end, who’s paying the bill is hard to say. With so much information noise right now, my noise reduction strategy is simple: spend less time on emotional reactions, and focus more on on-chain fund flows I can explain clearly; if I can't explain it, I won't touch it for now.