Bitcoin is not gambling - page 106. | Bitcointalksearch.org

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Quote from: hasmukh_rawal on September 27, 2017, 02:18:28 PM

Quote from: alihassan99 on September 27, 2017, 10:43:04 AM

I don't know why people say bitcoin is gambling. Its not gambling. You are investing your money and time. You use your internet. So its not gambling dealing with it.

Actually People dont know the value of bitcoin or dont try to understand the bitcoin processing. Typically i think they say it as gambling because it is a decentralised digital currency and they fear to do transactions with untrusted or unregulated payment option. The way it fluctuates make people feel that trading bitcoin is one of gambling things. But they dont understand that it is an asset and your investing your money, time, knowledge and skills to get profit from it and so you cant say it as a gambling.

Yes, you can saying it is gambling, because it is.

Read: https://stockbet.com/#/support/gambling

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Quote from: alihassan99 on September 27, 2017, 10:43:04 AM

I don't know why people say bitcoin is gambling. Its not gambling. You are investing your money and time. You use your internet. So its not gambling dealing with it.

Actually People dont know the value of bitcoin or dont try to understand the bitcoin processing. Typically i think they say it as gambling because it is a decentralised digital currency and they fear to do transactions with untrusted or unregulated payment option. The way it fluctuates make people feel that trading bitcoin is one of gambling things. But they dont understand that it is an asset and your investing your money, time, knowledge and skills to get profit from it and so you cant say it as a gambling.

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Dictionary.com's definition for gambling includes:

"to take a chance on; venture; risk: I'm gambling that our new store will be a success."
"any matter or thing involving risk..."

Is there risk with owning Bitcoin? Yes. It's gambling.

Is there risk with investing in real estate. Yes. It's gambling.

BitcoinSupremo

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Bitcoin is not gambling itself but many people reply to this thread that bitcoin is gambling because the biggest user base of bitcoin are gamblers. They like the convenience of playing with Bitcoin almost fully anonymously me included and that is the reason the biggest number of bitcoin based are casinos or sports betting, but Bitcoin itself it is not gambling, it is a technical financial revolution of this latest century which takes place in the internet.

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Most responses on this thread are wrong.

According to all of the major dictionaries, doing anything that involves risk in losing something or gaining something is "gambling". Look it up.

Buying Bitcoin, a business or stocks is all gambling.

Buying insurance is gambling.

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Quote from: alihassan99 on September 27, 2017, 10:43:04 AM

I don't know why people say bitcoin is gambling. Its not gambling. You are investing your money and time. You use your internet. So its not gambling dealing with it.

the person is not familiar with bitcoin deeper so says bitcoin is gambling because the coin's meaning is like coin on poker table, coin captured thinking that person means poker chip, I feel that people who interpret bitcoin as gambling are people who don't know what is bitcoin

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Bitcoin is risking your money just like investing in the share market where the share prices can fall or rise any time. It's not so firm and legal as the share market business where there is some kind of insurance for the share holders available or is there is any kind of interest the holders earn. The risk incurred with bitcoins is much higher rather than compared to any other investment (recently there was a drop of 40% in the price).

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I do not think that bitcoin is gambling but if I think it depends on someone who uses bitcoin as what tool they use gambling or take positive work they do to earn income from the bitcoin

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Almost everything you do in life is gambling.

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https://stockbet.com/#/support/gambling

sic57005

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People usually say "that's gambling" for the most money-related things they do not understand (and haven't intention to try).

allthingsluxury

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Like any investment, there are risks and potentials. People stating this simply don't understand what BTC is.

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bitcoin is a digital currency or we could say money in real world. Invest and gambling in general not only with bitcoins has a common denominator which is risk. When you invest your money on any business theres a chance to profit but also a chamce to loss that's also like gambling but difference is when you invest with proper knowledge and good analysis risk is lesser and gambling purely depends on mere luck.

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All investments are very similar to gambling. You're putting a sum of money at stake in hope of getting a profit. There's a chance that you will double your money, but there's also a chance that you'll lose some. Isn't that just like gambling? The only difference is that with investments your chances of winning are much higher than in gambling and you'll have to wait months or even years to know the results.

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Quote from: alihassan99 on September 27, 2017, 10:43:04 AM

I don't know why people say bitcoin is gambling. Its not gambling. You are investing your money and time. You use your internet. So its not gambling dealing with it.

It depends. If you buy and hold for the long term, then it is not gambling -- it's investing. If you are trading and competing against bots, then it's more akin to gambling. Either way, there will always be some degree of chance in the outcome.

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Quote from: siti25 on September 27, 2017, 12:24:47 PM

Quote from: jilani on September 27, 2017, 11:12:50 AM

You are right thinking Bitcoin is not gambling it is just digital currency but Bitcoin price is up and down thats why many peoples says its gambling or like as bubble but i am not agree with this people its their wrong thinking.

All I know is gambling is when we take the risk by placing a bet on a game so that our money can double. The rise in bitcoin prices is not a gamble and even I think it's way too different from the gambling definition I know. Bitcoin is just a kind of currency, and the currency is not gambling.

Invest into Bitcoin and wait its value increases also a gamble if you are an investor without any plans, therefore you cannot negate try on your luck is gambling. Of course if you can prepare everything carefully, you are trader and you can make good profits.

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Quote from: alihassan99 on September 27, 2017, 10:43:04 AM

I don't know why people say bitcoin is gambling. Its not gambling. You are investing your money and time. You use your internet. So its not gambling dealing with it.

yes, I really agree bitcoin is not gambling. but bitcoin is a remarkable crypto.

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Quote from: alihassan99 on September 27, 2017, 10:43:04 AM

I don't know why people say bitcoin is gambling. Its not gambling. You are investing your money and time. You use your internet. So its not gambling dealing with it.

Who said that anyway. I believe bitcoin is proper investment which can make the wealth grow properly in the long run. It's white investment and anyone can do it with the connected banking system. The blockchain, investment and increased popularity and everything is very different stuff and makes the bitcoin a solid asset to invest in.

A gambling is fools game where people try there luck out to win loads of money. Gambling is having yourself at right place at right time and then hitting the trigger. Completely different story I believe and that's why bitcoin doesn't fit in there. It's different completely.

crismass1225

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bitcoin is not a gambling, but there are process of it that can determine that it is a gambling. If you convert you fiat money to bitcoin and hold it up into your wallet you are now playing the game of gambling and investing. You gamble your money to a thing with volatile characteristic or in professional term you invest on a thing that you dont understand the process and just waiting to increase its price over time... But in general Bitcoin is not a gambling it is a Digital currency that you can use to gamble onlin, buy stuff online and pay bills online.

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It is not gambling but there is a certain risk when you put your money on bitcoin, just like gambling. Bitcoin is not yet that stable and still experiencing fluctuation in price. If you put your money into bitcoin as an investment, you have to take a risk that the price may fall and lost your money. Maybe that is why they say it is gambling.

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most likely they are those people who already had negative experience in trading on stock exchanges, in trading and investments. They lost something and did not understand why this happened, having made categorical conclusions, remained with this opinion. But investments do not like, when they are engaged in not understanding.

Topic: Bitcoin is not gambling - page 106. (Read 20867 times)