In crypto’s casino, Bitcoin stands alone as the ultimate prize
The post In crypto’s casino, Bitcoin stands alone as the ultimate prize appeared on BitcoinEthereumNews.com.
If you’ve ever bought a token only to find out its grand use case was “having a token,” congrats, you played the game just right. Wolf of All Streets’ Scott Melker sums it up best. After years wandering crypto’s high-stakes tables, he’s upgraded his stance from “99.9% of crypto is a casino” to “99.999999%. As for the rest of the industry? Well, it’s doubling down on his assessment, one Twitter thread at a time. Crypto is a casino with bull cycles and bear-ly believable drama The general mood in crypto circles is that this has been the worst bull cycle ever. This market is about as cheerful as a rain-soaked slot machine. Retail? Gone. OGs? Ejecting coins like a busted pinball. Just look at the Trump coin saga, where retail bagholders bought into the hype before newly minted “patriots” were left clutching tokens at a 90% discount. Or the “Banana Cat” memecoin, which mooned for two days before dumping so hard holders were left with whiplash. And it’s not just retail; insiders can get burned too, like Justin Sun’s spectacular miss with World Liberty Financial freezing 595 million coins. Even well-connected whales can end up face down at the blackjack table. Of course retail is leaving in droves. For those traders left still glued to their screens waiting for the next “God candle,” Bloomberg ETF analyst Eric Balchunas wants you to know it’s “actually a real mental health problem.” Sure, crypto is a casino, but Bitcoiners have seen their portfolios swing 300% in the last two years, and they still feel robbed anyway. Broken promises, pump and dumps, and the Bitcoin endgame So where do these winding market roads lead? After sifting through the promises and the latest “faster, cheaper, better” blockchain flavor, the exhausted crowd eventually stumbles back to…
