What's the REAL reason(s) so many "top" players are busto?

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Regarding the OP's question. I think the problem is that at low/mid stakes, there is still a wide range of skill level which is more profitable. The poker economy is a pyramid where all the cash goes to the top. The field of players at the high stakes level is much smaller and the difference in skill is not as wide. That means it's more of a gamble as your edges are smaller than it was at the lower games. More gamble + higher stakes is a recipe for bust.

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good point. imo, it's this combination of very little easy $ floating around in these HSNL/PLO tables and a self-destructive EGO that keeps these players from moving down to a level where they can easily make a wealthy living and still feel comfortable playing that those stakes after even the biggest of downswings.

I personally do not gamble in any way, other than with the luck involved in poker. I really can't level with the mindset of enormous flips, the pit, or even playing above and outside reasonable BR management in order to keep the game enjoyable. As far as I'm concerned this degenerate behavior is the single biggest leak in any poker player's game - thriving on the action.

....if there were only a way for disciplined (the real top players) to take advantage of these degens flips and HS pit games etc....casinos ftw