The crypto thing has always been about front running regulation and overall awareness of the grift. Whereas most people understood that traditional ponzis and g

The crypto thing has always been about front running regulation and overall awareness of the grift. Whereas most people understood that traditional ponzis and gambling often end with criminal charges and/or financial losses, in 2021 crypto could still tout "line go up" since the other shoe hadn't dropped yet. The layers of obfuscation involved in crypto schemes meant that normal users had essentially no way to comprehend the real risks, other than to rely on a more general truism (like "there ain't no such thing as a free lunch"). GP post is suggesting that demand for this kind of speculation was up, and if that's the case, many of these people in the "market" for scams and gambling might have been more attracted to crypto because it still had some veneer of safety/legitimacy about it. Nobody could plausibly claim that now that the failures are finally coming to light, of course. Edit: I would suggest this is largely a failure of the media, which had long treated crypto as legitimate by default despite having the resources to pay real experts to actually cover it critically. Of course, even had traditional media outlets been sounding the alarm, who knows if it would have mattered much - faith in media is very low right now (exactly because they so often get this sort of thing wrong).