Cryptocurrencies have become stocks without companies behind the ticker symbols. People took the stock market, tossed out the businesses, and just kept the casino part of the game. I know this is sad to say, but most people are dumb, lazy, impatient, greedy, and tend to take the path of least resistance without much caution or thought. The same people that weave through traffic and cause car accidents are the same people that lose all their money in the stock market, crypto, and get rich quick schemes.