"The truth is, the whole thing is a gamble."

Well, yes, precisely.

Gambling used to be seen as a moral sin.

Then it became a mental illness.

Then it became a means of rescuing dying cities or regions or helping Native Americans.

Then it became Gaming.

In the world of Crypto, it went almost right away from gambling to Gaming. Or, rather, Dogecoin and Shitcoin to .... well, you know.

China outlawed all crypto. Yet it dominates mining of crypto (approaching 70%) and manufactures more than 90% of all mining ASICs and rigs.

Who wins this gamble? Or, more importantly, who loses?