Topic: Bitcoin trading and gambling - page 6. (Read 1404 times)

Bitcoin trading is not the same like gambling.

Gambling is much riskier, since the house will always win, also you're going to need a lot of luck in order to make profits against the house. Bitcoin trading is risky but not as much as gambling, since it is not being controlled by anyone, the chances of making profit will depend on how good you are on reading charts to predict what might happen before making a trade.

Now, that's a wrong conclusion you've there that people don't lose in some types of trading. That's not true. You lose in all, even in Spot trading. As conservative as we believe Spot trading is, one can also lose. What do you think bagholding is? If any coin/token one buys gets rugpull or worthless in the market, isn't that loss? Of course, it's.

Definitely more time will be given towards trading comparing to gambling because you can gamble easily even if you haven't gambled ever before. I think that's the mindset that some people has that "easy money" thing that some people think that is easy to get. It comes with luck and skill depending on the game you are actually playing.

I think in any type of thing, there's always a need to study how it will be continued or pursued. You need to be better in that way.

  In EV- games, Gambling does not need a long learning process. Trading needs you to learn a lot before actually being able to trade. Hence people having that quick-rich mindset, will always go with gambling with EV- games more commonly than trading and say that both are somewhat similar which we know that is not always true.

There are EV+ gambling games like poker and sports betting but they need a learning phase and experience which of course newbies will not go for.

the advantage when you are in trading is the more TAs, information for the project, the better your chance of getting profits. however, when it comes to gambling and you are playing those casino classics like dice, which is luck-based game, even if you know martingale or any other strategy, the guarantee of winning will still be slippery. i won't compare trading and gambling. you have more chance of getting back your money from trading if you know what you are doing. but in gambling, even if you know what you're doing, if luck is not on your side, you will get rekkt fast.

Yes, we also have that in gambling. When you play dice games there's a free play or free spins you can try it before you actually put a big amount on your account. We should learn basics of it, do not play when you are not ready or just want to follow someone. In trading you can do dca, but in gambling there's no dca you cannot adjust it and then have a profit, both thing needed to have to take a risk.

It is good for us to at least start with something like a demo account for us to learn about trading and practice the strategies that we have learnt on a demo trading platform so that we can know how it works and what it is all about.

But the problem is that if we stick ourselves with demo trading, it can affect us finally when we start live trading and this is one of the reasons why I do tell people to stop using demo trading for too long because it can affect us to the extend when we might not able to trade when on live affect because emotions will take over us and make us see good signal and be scared to trade on them.

 Just like when a person analyse the market and see good signal but he is scared to trade on the signal because of fear of loses especially if the person had been making consistent loses at the past trade. This can make the trader to give the signal to others that will take the opportunity and use the signal to make money for themselves and the person that have the signal will make no profits from the market.

 There are many things that too much use of demo account can cause us but we might not know that it was the outcome. We might be making good amount of profits from demo trading and when we go live, we start making loses. This is the reflex of too much use of demo account for a very long time without have emotions because our money is not involved.

Few people realize that at the beginning of the journey, holding bitcoins is one of the best strategies. I only realized this after a few years. So at the beginning of my journey, I was very emotional and I wanted to trade in the market, but as time has shown, I did it in vain.

Who wants to get rich very quickly, greatly increases the leverage. And then it looks like losing money in a casino. Only in a casino can you get more pleasure from the process of the game itself.

It's not going to be as quick as gambling but if they buy and hold bitcoin for long period of time then they are going to make a lot of profit for sure. I can be sure that I have been making money since I have been holding bitcoin and that has been a proper period for sure. I am not saying that it's granted but that doesn't mean that it's not a good result neither. Sure it's not going to be guaranteed but you could make some profit with it without a doubt.

I think people who are trading with owed money for example are gambling, or people who do not know much about leverage and still do it are gambling, but when people are holding long term means that they are not really gambling and they know what they are doing as well.

Many people do these like gambling and with them, they are right if they think investing or trading is gambling.

We must prepare many things including knowledge and practice with demo trading before we actually star to use our capital for investment or trading. Furthermore we must practice to use non custodial wallet, download, install, verify it and do backups, recover our wallet from backups. Because when we do investment in Bitcoin, it's bad practice if we don't use non custodial wallets and store our bitcoin on exchanges.

It is true, trading or investing in Bitcoin isn't like gambling. It requires sufficient knowledge and experience although it also needs a strong mentality. But in Bitcoin trading/investment, we can't rely on the luck. It is much different with gambling that mostly relies on the luck. We probably fail in Bitcoin trading/investment if we have no skills, good understanding, analysis, and proper strategy. All of these things can only be obtained if we have adequate knowledge. No profits without knowledge and experience, it is what we must understand in Bitcoin trading/investment. While in gambling, we can play the games although we have zero knowledge about it. There are gambling games that we call as luck-based games, everyone can play the games. Even in skilled-based games, the luck still has a big role in gambling.

Simply, Bitcoin trading might be included in the gambling category if in trading, someone does it based solely on predictions, luck, and also only at a glance. So, if you don't have in-depth analysis of the market, know when to enter and exit, and without risk management and good emotions, then this could be gambling. because that person doesn't really understand what he is trading and how the mechanism should be.
And this kind of thing should be avoided in trading or investing in Bitcoin. Because basically, between trading and gambling should be different. There are certain stages to trading intelligently and wisely so that you can get optimal results without relying solely on luck.

NO! You can not classify Bitcoin as gambling. Bitcoin investment and trading are not based on luck as gambling is. With bitcoin trading or investment, you need to learn many things. It requires skills, knowledge, experience, and many other things. Those who have none of that will think of Bitcoin as gambling. Because in gambling, it's always a 50-50 chance of winning/losing. Once you lose, the whole thing is gone. But if you choose Bitcoin, if you just hodl it, you will get your profit back. Even if the price drop, you will still have something in your hand at the end of the day.

I agree that the Bitcoin market is volatile. But it is also predictable to some extent with experience and analysis. Well, it's not 100% correct but you can choose your risk management plan to minimize your losses. Can you do that with gambling? Of course not. So where's the similarity so that we can classify bitcoin as gambling? They are different things and that's the truth.

In investing and trading don't fully expect luck in my opinion, because in doing so requires analysis and strategy. We can only make predictions and there is always no accuracy regarding these predictions because talking about volatility can change so quickly. When it comes to bitcoin, it is much safer to be involved in investing compared to altcoins, although at certain times altcoins can also provide a return that is commensurate with the risk. Apart from that all luck will still be there from whatever process we will do and it is a nature that we will encounter at any time at any given time.

Apart from that everyone has their own views on investing and trading, but in my opinion hoping for luck is not a solution in doing so. Talking about potential is to what extent we are able to make a strategy and always make an analysis before being actively involved in trading or investing, so it takes complete knowledge to make a sense of security in running it.

We cant compare apple with oranges and so do Bitcoin with gambling. In gambling its all about your luck while in Bitcoin investment its about your strategy. If you are long term investor and follow strategies like DCA then there is no way you will lose your money. While there is no such thin in gambling, you win big just because of your luck and vice versa. There is one more thing, in gambling the platform is usually the winner not the gambler.

In 2018, I began to rapidly lose my deposit. Bear market has begun. I only traded spot and not so many trades. The portfolio consisted of bitcoin and altcoins. Imagine what happened at the beginning of 2019. There was almost nothing left of the portfolio, it fell by more than 90%. Therefore, you can lose a lot on the spot.

In gambling, I could lose it in a couple of minutes, but in spot it took me 1 year, I lost a lot of time constantly looking at the chart. But the other side of the coin is that I got invaluable experience. In gambling, experience is of little value.

Spot trading can't make us loss all fund or assets trading but have lower values after price dropping and seems difference with gambling, but almost the same thing between future trading with gambling because wrong predicting make us loss fund. Spot trading still our fund exist although price drop drastically and gambling can't make us have fund when wrong betting. Drastically difference between spot trading with gambling but many people minds about trading is gambling, possibility earn much profit later and not loss our capital is the main points in spot trading. But with gambling when our predicting or choose wrong all capital loss and we don't get anything in gambling side.

In gambling, you simply lose your money if your prediction is wrong and you lose the bet, which is not the case in all types of trading because there are different types of trading, like spot trading, futures, margin trading, options, etc. Now, you might consider some of these types to have similarities with gambling because when you make a wrong prediction with them, you might lose your capital, such as in futures trading, and you might get liquidated.

Trading in the spot market doesn't cause you any losses unless you deliberately sell your assets at a loss, otherwise, even if the market moves in the opposite direction, you will still have the possibility of getting profits from your trade if you keep holding your assets until the market moves back to the positive direction.

Bitcoin cannot be classified as gambling. While there may be similarities in terms of uncertainty and volatility, there are fundamental differences between bitcoin trading and gambling. Gambling is largely dependent on luck and chance, where outcomes are determined by random factors beyond an individual's control. In contrast, bitcoin trading involves analysis, research, and informed decision-making based on market trends, technical indicators, and fundamental analysis.

Your comparisons is like that of a beginner both to in Bitcoin investment and gambling. If you were a professional gambler, you would have spotted the errors in this anology. You would know that investing in Bitcoin is like making your own luck while gambling is like depending on others to make your luck for you. There is no iota of likeness between the two. If you gamble you would know it is hard for you to beat the casino but in Bitcoin investment you are like the casino if you play your cards right.