Why no one is making money with cryptocurrency

As of this morning in total it is worth around $700k AUD and earns 15% APY by delegating to an indexer.

Can not get enough volatility. Compare a 5% chance of a 1000% return versus 95% chance of a 15% return. If you pick the latter, you pay a high price for your risk-avoidance.

> crypto tends to zig and zag unpredictably.

Crypto market incredibly inefficient and predictable manipulation happens on unregulated markets.

> 2. No options market with crypto.

Don't need to. Shorting badly is how beginning traders lose it all.

> 3. Too hard and cumbersome to deposit and withdrawal large sums of and crypto and or fiat.

Depends on your returns and when and where you made these. But right now, indeed cumbersome.

> 4. Too small of position sizes. On /r/wallstreetbets it is not uncommon to see traders in their 20s or 30s make bets of ten thousand dollars or more on a single option trade.

/wallstreetbets is degenerates and show-boating. You can easily divide all numbers there by 10 and get more reasonable estimates. Crypto traders don't post their trades on reddit, at most in a Telegram group with other traders forming a pump-and-dump group. These don't want attention.

> Stocks tend to ‘trend’ which means that past price movement predicts future direction.

Bitcoin follows a nice trend too, just look passed the variance. Opposed to stocks, crypto price actually still slightly predictable using simple trend features.

> 6. As discussed earlier, crypto is more like a commodity than a stock. [...] Inflation 2-5%.

Win 5% extra on your stocks, add 5% with buybacks and earnings. Still does not beat a 5% chance of a 10x.

> Where are the millionaires? Surely there must be some.

Just look at the wallets of early Ethereum investors (when the price was around 50 dollarcent). Look at transaction sizes. Then do the math. Regardless of fear of getting hacked, you really think these people are posting about their tendiez on wallstreet bets, or bragging about 50k+ trades on /r/crypto?