It's because of a harmful culture that has developed around gambling on buzzwords, companies and lies that extends all the way through the wall street bets phenomena to "crypto" as they are calling it - and bitcoin is caught in the middle. People to do things that harm themselves like borrow and gamble and remortgage their homes. Gambling jt and then now reinvested it in bad spots, can’t redeem enough bitcoin so price falls. Fundamentally these exchanges we are giving receipts of bitcoin. Sometimes, you just need to download a gambling app that doesn't use real money. People could make runs on them while they gamble.


Bitcoiners can do to protect Bitcoin:

- Choose P2P exchanges and support bitcoiners - instead of large faceless corporations whose priority is profit and will happily support shitcoins (which adds counter party risk to any bitcoiner who uses them).

- Choose reputable, secure, OPEN SOURCE signing device cold storage solutions - If you are a Bitcoiner verifiability should always be a priority. We dont assume trust and sub-par solutions like Ledgers should not be advocated for.

- Do not lend your bitcoin to entities that rehypothecate (gamble) your funds and offer leverage positions against BTC. If yield is of interest to you - put your sats to work but running a lightning node and operating channels - supporting the growth and development of the bitcoin stack and earning sats in the process.
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Run a VERIFIABLE Bitcoin & Lightning Node! Although plug an play solutions look neat - When closed source, they limit your ability to decide important decisions about your nodes operations - These in essence could be used as a bot net with the software developer having full reigns in the decisions about what all node operators using their software support as the network grows and develops.