Lately, staring at the options chain dashboard until my eyes hurt, I realized that when it comes to buyers/sellers, it's really just about whose time value is being eaten.

As a buyer, watching that little bit of time drip away every day, even if the market doesn't move, it's considered a loss;
As a seller, collecting premium feels pretty good, but deep down you know you're putting the risk of a "sudden spike" into your pocket, and before bed, you have to check the volatility a couple more times.

Airdrop season is the same; the point system makes grabbing tokens feel like clocking in at work.
When the anti-witch upgrade happens, the biggest fee becomes the time cost... Anyway, I keep saying that TVL is just a fake, but I still try new protocols.
The result is: what time eats up isn't money, it's patience.
Let's leave it at that for now.