Lots of people have lost money on private currencies in the past. Basically what you’re doing is looking at how Jordan Belfort screwed people over and declaring the entire stock market a scam. Meanwhile, back in reality, you’re wrong.
Are there scammers? Yes of course.
Can you lose money on it even without a scam because in the end it is a spec market and random stuff happens? Absolutely.
Is it all a scam? Nope.
Can you make a real living in it? Yes, just like with any other spec market if you combine smarts and a bit of luck you can totally do it for a living.
There was about a year of my life where I actually made money gambling at a local casino.
It can be done.
There are professional gamblers—and some folks are good at it.
However most people lose.
That is why Las Vegas has the skyline it has—losing gamblers paid for that.