Bitcoin is the prime example of how greed can blind a community, according to Jacob King, an analyst at crypto newsletter WhaleWire. "It's utterly useless," King said in a statement for X. "It started as a way for online poker addicts to gamble anonymously, and it's snowballed into this giant scam propped up by delusional speculators who've been sold a dream of easy riches over and over again." King's comments come as Bitcoin's price hovers around $30,000, down significantly from its all-time high of nearly $70,000 in November. The cryptocurrency has been on a rollercoaster ride in recent months, with wild price swings and increasing regulatory scrutiny. Despite the volatility, some people still believe that Bitcoin has the potential to revolutionize the financial system and become a mainstream currency. However, King is skeptical. "It's just a giant game of musical chairs, and it's not going to end well," he said. "When the music stops, someone's going to get left holding the bag."

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