# @polynya: crypto industry has normalized gambling over building products

Source: https://farcaster.xyz/polynya/0x3a251330
Kiwi News: https://news.kiwistand.com/stories/polynya-crypto-industry-has-normalized-gambling-over-building-products?index=0x6901532bc69581b53fe7e14992f603536e09ad9b3e299ac9059fb63a0d65bf1d11dd654d
Submitted by misha on 2025-10-28 UTC, 5 upvotes, 0 comments

## Summary

A post by @polynya argues that the crypto industry has moved from building products to gambling, and that this shift has become institutionalized and normalized, with even the biggest players deep in it. The author uses "gambling" in a broad sense and says similar behavior is visible in AI stocks and gold. The post states that gambling's total addressable market is 1,000 times larger than building actual products in the short to medium term, and it says the few sustainable products are better than ever. It adds that the author respects those who are clear they just want to extract value.

## Article

No idea what the context is, but it's pretty clear in the last few years the crypto industry has barrelled down the cascade of degeneracy. At this point, it's institutionalised and normalised, and even the biggest players are deep into the game. 

To be clear, I use "gambling" in the broader sense, and yes, we're obviously seeing the same in AI stocks, Gold etc. Some of it is real, sure. The TAM for gambling is 1,000x larger than building actual products in the short-medium term, so I don't blame anyone, especially respect those who are clear they just want to extract. 

It's all a shame because the few actual sustainable products are better than they have ever been, and if the crypto industry had gone down the productive path instead, I'd still be writing about those.