[Crazy Dazz]

1. It's not a question of being a scam, it's simple economic reality. It's the same as speculating in any currency market, and many others. The only way you make money is if the price goes up, and that only happens if you have more buyers than sellers. That necessitates new buyers constantly entering the market.
2. It's not just unregulated, in many cases it's illegal within some jurisdictions.
3. Which is my point. We have royal commissions into banks, and all sorts of complaints, and that's WITH a highly structured regulatory framework.
4. It's definitely very similar to buying highly speculative Shares, and moreso derivatives. Difference is we're less likely to wake up tomorrow and find the ASX has closed and every cent we invested has vanished without trace.
5. Got to remember that the USA passes it's laws to protect Mega-Business, then coerces the rest of us to follow suit. So the crackdowns are coming.
6. at the end of the day, it's a zero sum game (like any such speculative market) with "The House" taking it's share as transaction fees