Social signaling must come from the person doing the signaling. In my experience people who've made life changing money off crypto this last couple months say they are 'investors' or have a couple of 'business'. Never would they say it was all luck or I gambled my way to the top. They saw a trend, they bet one it and they were payed for voting with their wallet. Although you call it 'gambling' someone else might call it 'insight' or 'Voting with your wallet' in the case of crypto.

All good points. In the end, sentiment is a shared delusion.

I am going to push back on this. Creating something of value is better than gambling, which is why founders have more prestige than lotto winners. Even if luck is a significant component to success, it isn’t the only component.

Value is subjective. Wealth is objective and tangible.

I bet there is some sort of positive social signaling in gambling your way to wealth as long as you succeed

Anyone else notice that WSB reads like a religion? And that Trump supporters have faith without evidence, just like religion?

Perhaps most humans cannot truly be atheists, but will always be caught by something to believe in.