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In other investments, you can pick an asset allocation, buy index funds of each asset, dollar cost over time, rebalance, invest over a long time.

Maybe some of that is available now with crypto? Index funds? But with how heavily the bigger cryptocurrencies are price-correlated, I don't think you get good intra-asset diversification benefits.

Personally within my asset allocation, crypto is a tiny fraction of a percent.

If you are doing much other than value investing long term you are gambling.

The stock market can be gambling, but if you put money in an index fund and don't look at it for 30 years, that's psychologically and financially very different from gambling.

The difference is that the expectation value is positive.

Which one are saying then that the expectation is not positive?