Bitcoin trading and gambling - page 2.

bitLeap

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Quote from: |MINER| on September 23, 2023, 12:01:57 PM

Trading without understanding is a kind of gambling. However, gambling and trading are not the same thing. Each task should be understood. If you act with understanding, the chances of damage are less. Gambling is totally dependent on luck. It does not predict what is going to happen. And for trading you need to understand when to hold bitcoin and when to sell. No one could master the trading subject in a day. It requires long days of knowledge acquisition. The more experienced one is, the more knowledge one has about the market. As Bull run is coming, now is the right time to hold bitcoin. Whatever you do in trading and gambling, you must have knowledge about both. Otherwise, you may face a big loss without your knowledge.

Perhaps what makes these two things seem the same is because we have to be good at risk management and financial management. Gambling is purely due to luck, although in it there are also predictable as in sportsbet gambling, which we can analyze which teams are strong and which teams are weak, so that in the end we can decide which team we will bet on.
Knowledge of trading cannot be achieved in one or two days, so I agree that to truly understand trading requires a very long time. And also it requires hard work and sincerity in learning it.

Patrol69

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One is gambling and one is business two are two types. First we are trying to discuss gambling.

Gambling:
Gambling is taking a huge risk of money. In a moment you can earn huge amount of money by gambling and in a moment you can lose everything by gambling. A professional gambler cannot apply his entire experience to gambling. You must rely on luck. If luck favors you and your prediction is correct, you can make a profit by gambling.

Trading:
We can compare trading with business. The same is the case with trading, just as one tries to maximize profits by using capital to do business. We generally know trading as using capital to buy a particular coin when the market is at a relatively bad level and then sell it when the market is in a good position. There is some money risk in trading but this risk is normal.

Comparing with gambling and trading I think trading is better from my point of view. Because in trading you don't have to depend on luck your profit will depend on your skill.

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Quote from: kingvirtus09 on September 23, 2023, 08:24:04 AM

I agree that Bitcoin investment is really different from gambling. Now, what you say, "Only invest what you can lose," is a matter of choice for an individual if he doesn't know anything yet or doesn't have a deep understanding of trading.

Choices like "Only invest what you can lose," are very common choices for everyone who wants to trade. Even gamblers can and are willing to do things like that even though they will never be the same as real traders, because real traders are traders who are able to look after their capital well and bring profits to themselves through that capital. Even if the capital runs out and they don't get any profit from that capital, they are also very willing to do that.

Quote

We know that traders are different from gamblers because, obviously, most gamblers don't have any idea or knowledge about trading, so when they come into trading, they are willing to gamble to trade.Unlike a trader who has an understanding of trading, he knows if he will make money from his trading because he knows how to read which direction the prediction price to buy or sell will go.
There is a difference between knowing and not knowing about trading.

Well, I also really agree with this one because it is very clear that gamblers never care about the direction prices will move in the market. So they only risk their money on certain assets by hoping for luck and if they are not lucky they will try again as they often do in gambling, so it is very clear that gamblers and traders are different in terms of their abilities.

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Quote from: Renampun on September 23, 2023, 03:57:00 PM

-snip-
In my opinion, gambling activity is a process of multiplying money that is based on luck, but bitcoin is not like that, forever 1 bitcoin remains 1 bitcoin, only those who try to make a profit use DCA in bitcoin investment.

Gambling is based on luck and some also do research on sports betting like soccer, 50% research and 50% luck.
Of course, it is very different from crypto or bitcoin investment.

We can say 1 Bitcoin remains 1 Bitcoin, it will not change.
What makes Crypto similar to gambling when someone trades futures just by guessing without any analysis, they do this depending on their luck and this can be said to be semi gambling, but the tools used are not for gambling only the nature is the same.

Gambling and trading have different essences, but will be the same in nature when done without using the science of trading and only based on feelings and luck guessing prices.

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Quote from: Kelward on July 11, 2023, 08:18:51 AM

...

So having made all this comparisons, do you think that bitcoin can be classified as gambling?

for whatever reason, bitcoin is not gambling. Let me give a simpler example, if you buy gold will the price remain the same as when you bought it? Of course not, the price will change by around a few percent, whereas Bitcoin, due to its decentralized nature, has very drastic price changes. if you have the goal of buying Bitcoin for trading activities then your benchmark is price, but as long as you don't sell at a loss then you don't lose anything.
In my opinion, gambling activity is a process of multiplying money that is based on luck, but bitcoin is not like that, forever 1 bitcoin remains 1 bitcoin, only those who try to make a profit use DCA in bitcoin investment.

|MINER|

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Trading without understanding is a kind of gambling. However, gambling and trading are not the same thing. Each task should be understood. If you act with understanding, the chances of damage are less. Gambling is totally dependent on luck. It does not predict what is going to happen. And for trading you need to understand when to hold bitcoin and when to sell. No one could master the trading subject in a day. It requires long days of knowledge acquisition. The more experienced one is, the more knowledge one has about the market. As Bull run is coming, now is the right time to hold bitcoin. Whatever you do in trading and gambling, you must have knowledge about both. Otherwise, you may face a big loss without your knowledge.

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Quote from: DanWalker on September 17, 2023, 10:39:23 PM

Quote from: kingvirtus09 on September 17, 2023, 05:14:26 AM

Bitcoin trading and gambling are not the same. But the other community here believes that investing in Bitcoin is no different from gambling. Because they say we are gambling our capital by investing in Bitcoin. I don't think so.

Those investors who invest in Bitcoin believe and know that they can get a profit; unlike gambling, it is not like that. Because in gambling, you rely on luck, which means you are not sure if the money you use will make money.

Therefore, bitcoin investment is an asset in which there is volatility, while gambling is not like that; there is no volatility in question.

They are definitely two different things but there are also many similarities between them. When talking about risk, even if you have knowledge about bitcoin, there is no 100% guarantee that you will win and make a profit. Because the future is unpredictable and anything can happen. Do you remember the saying we often advise each other "only invest what you can lose"? What does this mean?

Investing in bitcoin and waiting for future profits is like making a bet because we don't know what will happen in the future. So some people calling investing gambling is not entirely wrong.

I agree that Bitcoin investment is really different from gambling. Now, what you say, "Only invest what you can lose," is a matter of choice for an individual if he doesn't know anything yet or doesn't have a deep understanding of trading.

We know that traders are different from gamblers because, obviously, most gamblers don't have any idea or knowledge about trading, so when they come into trading, they are willing to gamble to trade.Unlike a trader who has an understanding of trading, he knows if he will make money from his trading because he knows how to read which direction the prediction price to buy or sell will go.
There is a difference between knowing and not knowing about trading.

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Quote from: Z_MBFM on September 21, 2023, 10:02:30 AM

Bitcoin is a strong asset in which it is possible to get profit by investing. But even if there is risk here, there is no fear of zero balance like gambling. The price of Bitcoin fell slightly but recovered very soon. But Bitcoin trading can also behave like gambling if one trades Bitcoin with high leverage in future trading. For example, Binance offers up to 125x leverage for Bitcoin future trading. However, Bitcoin holding is in no way compatible with gambling. Gambling is a different thing altogether it involves a lot of risk and it leads a person to ruin. But holding Bitcoin always benefits a person. So Bitcoin and gambling can never be considered as same things

Yes, you are right, of course Bitcoin is one of the most popular and profitable virtual assets. People who have invested in bitcoins have never experienced losses, although there is some risk, but it is possible to earn good money from it. But gambling is not the same as Bitcoin. There is always a risk of losing money in gambling, and in case of loss, all money is definitely zero. If the price of Bitcoin goes down, it may take some time to get back to the same position. But in case of gambling, if a person loses the bet by gambling, he will never recover the money in full, but if the value of Bitcoin decreases after investing in Bitcoin, it is likely to go back to its previous position. And gambling make a person completely moneyless and ruin him, but Bitcoin is different in that he is able to give his money to a person. So Bitcoin should never be considered with gambling, rather Bitcoin helps a person enough to show his bright future.

Z_MBFM

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Bitcoin is a strong asset in which it is possible to get profit by investing. But even if there is risk here, there is no fear of zero balance like gambling. The price of Bitcoin fell slightly but recovered very soon. But Bitcoin trading can also behave like gambling if one trades Bitcoin with high leverage in future trading. For example, Binance offers up to 125x leverage for Bitcoin future trading. However, Bitcoin holding is in no way compatible with gambling. Gambling is a different thing altogether it involves a lot of risk and it leads a person to ruin. But holding Bitcoin always benefits a person. So Bitcoin and gambling can never be considered as same things

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Quote from: Bd officer on September 17, 2023, 10:05:50 PM

Bitcoin trading and gambling are different and can never be the same. Because if you gamble on something, if you win you will get 150 or 200 for 100 bets, if you lose you will lose the whole money. Those who trade in Bitcoin wait until the price drops to buy and try to sell when the price goes up, with little chance of losing their entire money. Those who understand trading well can earn good profits. Many families do not like gambling. I have seen many people have become destitute due to gambling losses. Bitcoin trading can lead to risky gains or losses.

You can also lose all your money trading Bitcoin when you don't have experience but decided to start trading. Most individuals that trade without stop loss active also lose most of their money. Both trading and gambling are very risky and looks similar but they're not because trading depends on your skills and experience while gambling depends on luck. You can't have a winning strategy that you'll use and win everytime you gamble but you can do that when trading.

As a trader, the more you trade, it gives you experience that will be used for your future trading and it makes you more professional. An individual can depend on trade for income but gambling can't be depended on because you don't know if you'll win when you gamble.

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Quote from: Nrcewker on September 16, 2023, 01:01:00 PM

Quote from: Vivageneviv on August 18, 2023, 12:30:22 PM

They both might share some common elements, but they are contrasting activities. With trading you often need strategic decision-making, analysis and research, while gambling is all about stakes. Crypto trading offers vast opportunities and risk free events like KCGI trading contest unlike gambling where you only rely on luck and chance

You can categorise both as game of luck and game of skills. Trading is not completely game of skill, as some luck factor is also involved here. Similarly gambling is also not purely game of luck, as in sports betting you need some skills to analyse the game. So yea both are different things with some similarities and differences. In gambling the risk is more while in trading the risk is comparatively less. So choose what you want to do, based on your risk intake capabilities.

There are different types of trading, and you can't compare them all with gambling. I know that futures trading and options trading do have some similarities with gambling because you can also lose everything that you have up at stake, but even then, if you place a stop-loss, you won't lose everything but only a portion of your capital. But in gambling, if you don't win, you lose everything you had placed as a bet because it is all about your luck, that's it.

And I wouldn't even compare sports betting with futures trading even if they both require both luck and skills from the user because in sports betting, if the match is over and you lost the bet, everything is gone, but in futures trading, if you use a risk-management technique, you can save yourself from excessive losses.

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Quote from: Bd officer on September 17, 2023, 10:05:50 PM

Quote from: Kelward on July 11, 2023, 08:18:51 AM

...
So having made all this comparisons, do you think that bitcoin can be classified as gambling?

Bitcoin trading and gambling are different and can never be the same. Because if you gamble on something, if you win you will get 150 or 200 for 100 bets, if you lose you will lose the whole money. Those who trade in Bitcoin wait until the price drops to buy and try to sell when the price goes up, with little chance of losing their entire money. Those who understand trading well can earn good profits. Many families do not like gambling. I have seen many people have become destitute due to gambling losses. Bitcoin trading can lead to risky gains or losses.

Gambling is for fun and trading is for profit but it does not mean that in trading you won't lose your money. There is a huge chance if you don't have knowledge and mostly if you treat trading as gambling like having entries without any bases and just selecting what you want. What's really best about trading over gambling is that you have more control over your money like per trade you can close it anytime you want and no one is controlling your money and there is no cheating unlike in gambling where it is just made for fun and make you lose.

Both shouldn't be compared as they are not the same. Gambling is all about luck and trading is all about skills which is very far from and it is like fun vs. profit.

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I also like to get drunk and gamble on crypto!

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Quote from: Bd officer on September 17, 2023, 10:05:50 PM

Quote from: Kelward on July 11, 2023, 08:18:51 AM

...
So having made all this comparisons, do you think that bitcoin can be classified as gambling?

Bitcoin trading and gambling are different and can never be the same. Because if you gamble on something, if you win you will get 150 or 200 for 100 bets, if you lose you will lose the whole money. Those who trade in Bitcoin wait until the price drops to buy and try to sell when the price goes up, with little chance of losing their entire money. Those who understand trading well can earn good profits. Many families do not like gambling. I have seen many people have become destitute due to gambling losses. Bitcoin trading can lead to risky gains or losses.

There is a difference between the type of gambling you want to do, whether you actually want to gamble or not, you have to put it first if you can, but there are successes and failures in both winning and losing, the more experience you gain, the more you achieve success. You can, here everything depends on your first target if your target is then your decision should be the same, on the other hand, if your target is gambling or trading then your target should be the same, but in my opinion, higher risk in gambling than trading. Much more because if you trade, you understand the profit and loss part. On the other hand, the more you gamble, the more you'll find that you don't understand your profit and loss portion, and depending on you, more losses and more profits. Whichever you decide, but there are also many successful people who have achieved success in both fields.

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Quote from: kingvirtus09 on September 17, 2023, 05:14:26 AM

Bitcoin trading and gambling are not the same. But the other community here believes that investing in Bitcoin is no different from gambling. Because they say we are gambling our capital by investing in Bitcoin. I don't think so.

Those investors who invest in Bitcoin believe and know that they can get a profit; unlike gambling, it is not like that. Because in gambling, you rely on luck, which means you are not sure if the money you use will make money.

Therefore, bitcoin investment is an asset in which there is volatility, while gambling is not like that; there is no volatility in question.

They are definitely two different things but there are also many similarities between them. When talking about risk, even if you have knowledge about bitcoin, there is no 100% guarantee that you will win and make a profit. Because the future is unpredictable and anything can happen. Do you remember the saying we often advise each other "only invest what you can lose"? What does this mean?

Investing in bitcoin and waiting for future profits is like making a bet because we don't know what will happen in the future. So some people calling investing gambling is not entirely wrong.

Bd officer

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Quote from: Kelward on July 11, 2023, 08:18:51 AM

...
So having made all this comparisons, do you think that bitcoin can be classified as gambling?

Bitcoin trading and gambling are different and can never be the same. Because if you gamble on something, if you win you will get 150 or 200 for 100 bets, if you lose you will lose the whole money. Those who trade in Bitcoin wait until the price drops to buy and try to sell when the price goes up, with little chance of losing their entire money. Those who understand trading well can earn good profits. Many families do not like gambling. I have seen many people have become destitute due to gambling losses. Bitcoin trading can lead to risky gains or losses.

EarnOnVictor

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Quote from: kingvirtus09 on September 17, 2023, 05:14:26 AM

Bitcoin trading and gambling are not the same. But the other community here believes that investing in Bitcoin is no different from gambling. Because they say we are gambling our capital by investing in Bitcoin. I don't think so.

Those investors who invest in Bitcoin believe and know that they can get a profit; unlike gambling, it is not like that. Because in gambling, you rely on luck, which means you are not sure if the money you use will make money.

Therefore, bitcoin investment is an asset in which there is volatility, while gambling is not like that; there is no volatility in question.

You have a good post here and those who are calling trading/investment gambling are ill-informed and it's high time they start learning because no learned person on the two would come to that conclusion. And to buttress your point without repetitions, in gambling, you solely rely on the outcome by chance and you can't manage it or replace your choice. But this is not happening in trading and investment, you can decide to opt-out immediately after you press the go button, and you can effectively manage your money and risk to your advantage.

Lastly, part of what causes the argument/discrepancies between trading/investment and gambling is the fact that people can also gamble in trading. But this doesn't entirely define the profession, and once you know what you are doing and are doing what you know in trading, then you are not gambling.

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Bitcoin trading and gambling are not the same. But the other community here believes that investing in Bitcoin is no different from gambling. Because they say we are gambling our capital by investing in Bitcoin. I don't think so.

Those investors who invest in Bitcoin believe and know that they can get a profit; unlike gambling, it is not like that. Because in gambling, you rely on luck, which means you are not sure if the money you use will make money.

Therefore, bitcoin investment is an asset in which there is volatility, while gambling is not like that; there is no volatility in question.

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Quote from: irhact on September 17, 2023, 03:19:58 AM

Quote from: Out of mind on September 16, 2023, 08:15:28 PM

I see a lot of differences between Bitcoin trading and gambling, because trading is about using your own skills and experience to make a profit. There is no difference between gambling and trading but two different things, when you gamble you never understand how trading is done.

An individual that gamble can't also understand what trading is and how it's done, just because a person is a gambler doesn't mean the person is stupid and don't have knowledge on other things. Gambling is an activity everybody can do but to avoid getting addicted, they only have to watch how they gamble and only use money that won't put them into debt. Gambling and trading is different but many individual who wish to be traders, gamble thinking they're trading.

It's because of this that people think the two are the same because we have gambler's that take their gambling mindset into trading and they might see profit when they're new but as the time goes by, they begin to experience losses which they'll want to chase but keep losing.

Obviously trading and gambling are very different things, I think in gambling there is no need for any knowledge or expertise, they just guess and there are only 2 possibilities, namely winning and losing without any compensation, but in trading everything is possible according to skill and knowledge. that we have and we even have many possibilities even when we are in a pinch.
Actually everything can be said to be gambling depending on what is done and therefore it is true as you said that everything starts from a person's mindset and point of view in understanding it.

irhact

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Quote from: Out of mind on September 16, 2023, 08:15:28 PM

I see a lot of differences between Bitcoin trading and gambling, because trading is about using your own skills and experience to make a profit. There is no difference between gambling and trading but two different things, when you gamble you never understand how trading is done.

An individual that gamble can't also understand what trading is and how it's done, just because a person is a gambler doesn't mean the person is stupid and don't have knowledge on other things. Gambling is an activity everybody can do but to avoid getting addicted, they only have to watch how they gamble and only use money that won't put them into debt. Gambling and trading is different but many individual who wish to be traders, gamble thinking they're trading.

It's because of this that people think the two are the same because we have gambler's that take their gambling mindset into trading and they might see profit when they're new but as the time goes by, they begin to experience losses which they'll want to chase but keep losing.

Topic: Bitcoin trading and gambling - page 2. (Read 1416 times)