Isn’t it ironic that one of the most popular apps, and the one some people keep presenting as a flagship product for the chain, is also one of the entities that has been nuking that same chain for years?
Some cashing out is obviously normal. Companies have real-world bills, employees, infrastructure and taxes, and not everyone accepts crypto.
But what we are seeing here goes far beyond normal operating expenses. This is serious enrichment and sustained value extraction.
Are the profits legitimate?
Sure.
But they come from a business model and a way of operating that I personally find highly questionable, even if it has unfortunately become one of the most popular and most demanded ways for users to participate in this space.
And I think most people simply do not care.
That is true for a lot of things in crypto.
As long as their own little kingdom, meaning their own wallet, appears to be doing well, everything else becomes secondary.
Ethics, sustainability, who is extracting value from whom, none of it seems to matter very much.
The irony is that even this selfish logic does not really hold up. Most users are not getting richer from these gambling mechanics. They are losing money to them.
So people defend systems that extract value from the chain because they believe those systems are good for their own wallet, while statistically many of them are the ones funding the extraction.
Make it make sense.