i've watched The Sting (1973) a few years back and its actually quite hilarious how many parallels there are to modern day crypto

the "big con" is just a buy-in from the mark (retail) and then vaporizing the money with a quick exit

in the movie the mark believes in a "horse betting racket" which is just basically someone promising CONSISTENT and OUTPERFORMING returns and has others vouching for them (VC funds, influencers with fake PnLs, anything really)

its all based on informational asymmetry - those who are setting up the con know its a con

those who have no idea - think its legit, because everything seems legit and everyone they speak to confirms its legit

the exit happens just as the mark feels they're invincible and that they've made it - kind of how when the best time to sell an altcoin is when you feel its invincible and up only

they even use WESTERN UNION and telegraph companies and whatnot as payment rails (that's why it's called wire fraud, i guess?) because obviously stablecoins didn't exist back then or the internet

must see movie!