> “…crypto casino sector”

I would not call it casino. Casinos go through regulated scrutiny to test the games probabilities are accurate so you play against math, crypto is a an unregulated market so you (probably) play against or benefit of market inefficiencies.

At the end of a casino the chips can always be redeemed.

There is very little liquidity in crypto. And when one of the whales breaks rank and heads for the exit every other holder will be sitting on chips with some nominal value but absolutely no buyers.

Casinos are not just games where chips are exchanged between players and what is regulated is not how you play (casinos per se may do that, I don’t know) but that the game is fair and you can make informed decisions, ie in card games that all players have the same information which means the decks are not marked, contain a known distribution of cards,… That does not happen in inefficient markets.

> Casinos go through regulated scrutiny to test the games probabilities are accurate so you play against math

That's only for physical games/machines, right?

I had in mind physical casinos so I would say yes but testing also depends on each country regulations. If I recall properly (I worked in the testing industry long time ago and with slot machines) the problem with online games for my country at that time was that there was some confusion on which regulation to apply for them as games where not played where they were hosted.

no

> Good. There needs to be more of these layoffs in the crypto casino sector.

Incredibly apathetic and selfish to be happy about people losing their jobs and wish for even more. Doesn’t sound you really care about “gamblers”, you just want to be right. This is just sad.

The people losing their jobs have been actively harming our society for their own selfish ends without contributing anything of value. I have zero empathy for them, and if they all end up unemployed and bankrupt that would be a perfectly acceptable outcome.

> The people losing their jobs have been actively harming our society for their own selfish ends without contributing anything of value. I have zero empathy for them, and if they all end up unemployed and bankrupt that would be a perfectly acceptable outcome.

What's the difference to FAANG employees?

It's hard to relate to this position, that sees no value in enabling people to take custody over their own money, in a form more useful than physical cash.

Peer-to-peer finance is what the crypto industry is enabling, and you really think people are worse off from being empowered in this way.

I hope you share that despire with Wall Street.

No one says "Wall Street cashed out", they say "the market crashed".

The market gets inflated with borrowed money and the bills gets paid by retirement funds having record loses when the big ones run away with the money.

It's the biggest ponzi of them all.

I mean there's actual lotteries and casinos and sports betting shops being run everywhere and people don't seem to mind?