Bitcoin trading and gambling - page 8.

Kelward

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Quote from: palle11 on July 12, 2023, 09:26:10 AM

Quote from: goaldigger on July 12, 2023, 08:28:27 AM

Bitcoin itself is not a gambling but if you do some actions that are more about gambling, then you can consider it.
This two has been compared for many times, and there's still no correct answer here because it will always depend on your own perception.
For me, Bitcoin is more as an investment asset and not just a crypto currency, again this is my own perception and I'm sure some will not agree on this.

There is standard to things whether opinion different or not and such standard is from majority of the general opinion just as your opinion is that bitcoin is more of investment asset. So trading is not gambling like gambling is also not trading. Many responses here have followed the same line as yours. Trade is a more calculated indices which are futuristic and realistic unlike gambling whose main principles stand on luck and prediction.

I like the way you differentiate the two, bitcoin trading is more of calculated indices, it's futuristic and realistic. While gambling main principles is primarily on luck and predictions. I think that if a bitcoin trader chooses to apply this principles of gambling that is based on luck and predictions, then it somewhat becomes a gambling method, which might not yield favourable results in terms of earnings. Better to stick to a realistic method of calculated indices, as you have rightly mentioned.

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Quote from: Questat on July 13, 2023, 10:14:57 PM

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

From my observation, people don't have much regards for gamblers, they either see them as lazy people who don't like to work, or people who want to take shortcut to get rich. Although people are entitled to their opinions, but I don't like to categorize bitcoin in this group of " try your luck ". I know bitcoin is of a higher level, it's a decentralized digital currency that you can use to make transactions, at the same time you can cash in when the coin appreciates., or even trade it to make profit.

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

You perhaps saying that gambling is those people who are lazy people that wanted to become rich instantly but Bitcoin does not. We can't say Bitcoin is for luck and easy instead, we work hard for it like we do in some form of investment. Therefore, it was not the right opinion to say that it was gambling because we know the future of our investment unlike we are in gambling.

Maybe, if you think about trading but still, it was not a form of gambling unless you never know what you are doing and you are now relying on luck which is a problem for most.

Trading is not just about buying and selling because we need to have knowledge and skills,
unlike the case with gambling I think it only relies on luck,
gambling will not make you rich and it will only waste time and money, so it's better to avoid it.

For trading you need to buy coins at right time and sell coins at right time then you can earn money from trading. But gambling all depends on your luck. I think trading is much better than gambling. There is very less risk of losing money from trading so I prefer trading. I could not make money from gambling and lost money most of the time.

Litzki1990

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One is your business and the other is trusting your luck. Profit and loss is normal when investing money in business but there is no chance of losing your capital completely but if you gamble then you have to depend on luck and luck can cheat you. Gambling has a very poor record of success. If you are a professional gambler you still have to rely on luck because you cannot change the outcome of a match there you have to rely on some good experience and luck. But you don't have to depend on luck if you can gain complete experience in trading. With your qualifications you can profit in your business. So trading is always safer than gambling.

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Trading is not gambling. Gambling is try you luck like you said OP,but bitcoin trading is not try you luck. Bitcoin trading can be said to be try your luck for newbies who just want to see how trading works. There is no professional gambler but there is a professional trader who has his trading knowledge and strategy and can read the trading charts accurately.

A gambler that makes research and understand his own gambling strategy and follows up every game will not be 65% assured that he will make profit on the game he bets. Trading will give you profit but gambling will only take your funds. Gambling is done for fun but trading is done for profit. These two are only similar risk aspect.

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

From my observation, people don't have much regards for gamblers, they either see them as lazy people who don't like to work, or people who want to take shortcut to get rich. Although people are entitled to their opinions, but I don't like to categorize bitcoin in this group of " try your luck ". I know bitcoin is of a higher level, it's a decentralized digital currency that you can use to make transactions, at the same time you can cash in when the coin appreciates., or even trade it to make profit.

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

You perhaps saying that gambling is those people who are lazy people that wanted to become rich instantly but Bitcoin does not. We can't say Bitcoin is for luck and easy instead, we work hard for it like we do in some form of investment. Therefore, it was not the right opinion to say that it was gambling because we know the future of our investment unlike we are in gambling.

Maybe, if you think about trading but still, it was not a form of gambling unless you never know what you are doing and you are now relying on luck which is a problem for most.

dansus021

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Quote from: _act_ on July 11, 2023, 08:31:24 AM

Holding bitcoin is not the same thing as trading bitcoin. Gambling and trading are not the same thing too. Trading require you to learn trading skills but gambling require just some strategies. Trading can be risky like gambling, but they are not the same thing. If the price of bitcoin fall already, you can invest for months or years and you will most likely gain.

Totally agree with you holding is not considered as a gambling, tho people who blind entering market withour proper knowledge and only basic by luck and trade futures is a gambling hahahha

for you OP

Hahaha, Life is self actually gambling mate Tongue

full of risk and we want hope of a desired result. Just like you said and also life basically a game that involves money. Lips sealed

But seriously if you consider crypto is gambling that stock and other investment platform is another gambling right?

lienfaye

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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?

Investing or trading Bitcoin is also risky similar to gambling, but the level is quite different. In gambling, usually you're placing bet without any assurance to win and just relying on luck. You can use any strategies but it doesn't guarantee to work effectively, because if this is the case, then probably many gamblers are already rich by now.

On the other side, trading/investing requires knowledge. If you understand what you're doing and aware of what you should do and what strategy to use, then you can increase your chance to gain. Investing/trading is not entirely relying on luck since there's a way to profit depending on your knowledge and strategy. So compared to gambling (wherein you can't beat the house), investing in Bitcoin is more profitable.

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

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While I wouldn't deny that they have similar factors, they aren't exactly the same. Gambling 100% relies on luck, one that was indicated by the machine or program behind the game with no outside influence whatsoever. Simple as that. Trading is a bit more complex, since you create ideas that can support movements and patterns, and since the movement of the price came from humans themselves (or are influenced by it in different ways), patterns are able to appear, unlike patterns in gambling, which gamblers only enforce to explain something unexplainable, in this case, luck.

I guess if we compare how past results happened, Bitcoin charts would probably have an explanation, your gambling history won't (or maybe would, that you should stop since casinos just suck the life out of gamblers most of the time with house edge).

SOKO-DEKE

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Despite the fact that Both trading and gambling involve luck because nobody knows what will happen in the future, Bitcoin trading should not be seen as a gamble because in bitcoin trading you need good knowledge and skills to accomplish your aim, and if someone doesn't have that, it will be unlikely to get lucky. But in gambling, I don't think someone needs serious knowledge and skills before they can predict and win. Gambling is easily predicted by the odds, so in short, gambling is just a chance of being lucky. The only thing I see in common between trading and gambling is that they are both risky, which is almost everything this life involves. Let's just know that gamblers entirely believe in risk, but traders don't believe much in that but rather in knowledge and skills.

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Quote from: Ndabagi01 on July 13, 2023, 05:39:31 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?

Those two are distinct and can’t be compared to each other as they often might exhibit similar characteristics but still one can’t interlude them with the other. The basic understanding of each of them differs and as you’ve said gambling is being attributed to lazy people, I stand to agree with that since you don’t need a lot of knowledge to be able to gamble while trading bitcoin needs a lot of analysis and research. Although the end part of them both is that they can both be lost at some point if you don’t predict well for gambling or sell/exit trade during trading after removing your capital.

Trading and gambling are two different things we need to understand so that we are not going to mix the two together. Gambling is mostly based on luck but trading is based on your experience and how good you are analysing the cryptocurrency market. For those of us that are ready to do the right thing, we need to learn more about trading to the level of being a pro trader. If though we are making consistent profits from the market, that does not mean that we should be okay andbwe should not learn so that we improve ourselves and be a better trader in time soon.

Ndabagi01

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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?

Those two are distinct and can’t be compared to each other as they often might exhibit similar characteristics but still one can’t interlude them with the other. The basic understanding of each of them differs and as you’ve said gambling is being attributed to lazy people, I stand to agree with that since you don’t need a lot of knowledge to be able to gamble while trading bitcoin needs a lot of analysis and research. Although the end part of them both is that they can both be lost at some point if you don’t predict well for gambling or sell/exit trade during trading after removing your capital.

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

From my observation, people don't have much regards for gamblers, they either see them as lazy people who don't like to work, or people who want to take shortcut to get rich. Although people are entitled to their opinions, but I don't like to categorize bitcoin in this group of " try your luck ". I know bitcoin is of a higher level, it's a decentralized digital currency that you can use to make transactions, at the same time you can cash in when the coin appreciates., or even trade it to make profit.
So having made all this comparisons, do you think that bitcoin can be classified as gambling?

Investing in Bitcoin isn't like gambling, trading Bitcoin isn't gambling as well. Investing in Bitcoin with the mindset that you're gambling, you won't make any profits and trading Bitcoin has things that you can use in guiding yourself when making future predictions on how the market will move. Trading Bitcoin is just like trading stocks. You can't win just guessing you have to understand what you're doing and spend time doing research to get a better results.

Bitcoin isn't a try your luck kind of investment as gambling is, many individual consider investing in Bitcoin or trading as a shortcut to to get rich but when they try it they'll find out that it isn't. There are some individuals that have made it from here but they didn't just try luck.

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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?

There is absolutely huge difference between crypto trading and gambling, once you acquired all the necessary skills and knowledge in trade you are bound to earn profit consistently though losses are inevitable, however with a sound and solid money management a trade will still be profitable in a long run that is why we have full time traders, buying Bitcoin and altcoins in a bear market will yield confirm profit during the bullish runs though it might take some period of time to accomplished it, however gambling for a living or as a full time gambler carries enormous risk because there isn't a guaranteed chances of winning consistently due being created in upset in some sure matches.

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

You're not 100% sure whether you'll win or loose.

So does every aspect in this world. Take an example of stock trading, you also have no idea if you are winning or losing unless you are keep yourself updated with the news regarding the assets you are investing currently. It's all everything about how do you keep up with the environment in terms of investment and based of that situation the result could be different. Unlike in gambling where everything is just based of luck.

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

Furthermore, I've leant on this forum that it's better to invest in bitcoin, with what you can afford to loose, meaning that it's not safe to invest your main capital. This is where I think that bitcoin is like gambling, because despite the accurate knowledge of bitcoin chart, you're never too certain of making gains, just like in casino, online betting and the rest.

That's pretty much a rule of thumb on every investment you make you shouldn't invest money that you can't afford to lose. Investment and trading is a risky action because it's involving money and one should treat it really careful

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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?

These two activities cannot be separated from profit and the hope of making money, that is the main point of trading crypto and gambling, but we can realize that these two things can be clarified as two different activities, even though both of them have to start with initial capital to make the best profit.

Crypto trading, we can see movement and can also analyze the direction of movement of Bitcoin, that's when we can determine whether to buy or not, general trading is done when the price is cheap, 99% if you really buy at a cheap price the risk of losing is insignificant if the Bitcoin price goes down again, but we can wait at the point where the price will rise again.

It's just that gambling is risking money in general, there is luck when money is turned, but the nature of gambling is risking, we cannot see the future results whether they are good or bad.
While gambling is risking, when the game is played the risk of loss is in sight, if you are not lucky.

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Quote from: UchihaSarada on July 13, 2023, 06:42:17 AM

Quote from: gunhell16 on July 13, 2023, 04:05:00 AM

That's why investors see bitcoin as assets that will give you profit in the future, in short, you know that you will get some profit here, it's far from gambling where you hope that you might get lucky. It's not like that with Bitcoin when you buy it and hold it for a few years.

It depends on what cryptocurrency they invest in. They can have less risk by investing in Bitcoin but if they don't invest in Bitcoin and choose altcoins, they are increasing the gambling factor for their investment decision. I can not call them as gamblers and they don't consider themselves as gamblers too. After doing their research or due diligent research, they are more like investors but with altcoins, investing looks to like gambling.

Moreover, the lower the capitalization of altcoins, the more it turns into gambling. Only to find out the result will take some time: 1 day, week or month. While at roulette, when betting on black or red, you will know the result instantly.

When it comes to slots, long-term poker tournaments, and other more time-consuming gambling games, it is better to give preference to them over the small-cap altcoin market. While playing games, you will lose money while having more fun than trading small cap altcoins.

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

For some time now I've been pondering on this matter, because I see similarity between bitcoin trading and gambling, so I'm wondering whether they're the same thing. My simple definition of gambling is "try your luck", because you don't know what will be the outcome of the game that you staked. Although calculation is involved in gambling, like forecasting and permutations to predict winnings. In the end it is fifty fifty or sixty forty chances of winning. At the same time you can not accurately predict bitcoin , because of it's volatile nature. You're not 100% sure whether you'll win or loose. Furthermore, I've leant on this forum that it's better to invest in bitcoin, with what you can afford to loose, meaning that it's not safe to invest your main capital. This is where I think that bitcoin is like gambling, because despite the accurate knowledge of bitcoin chart, you're never too certain of making gains, just like in casino, online betting and the rest.

From my observation, people don't have much regards for gamblers, they either see them as lazy people who don't like to work, or people who want to take shortcut to get rich. Although people are entitled to their opinions, but I don't like to categorize bitcoin in this group of " try your luck ". I know bitcoin is of a higher level, it's a decentralized digital currency that you can use to make transactions, at the same time you can cash in when the coin appreciates., or even trade it to make profit.

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

People who are categorizing trading as gambling are completely ignorant of business behind trading, it's more of a regular job to very few people who turned their life into significantly better in very short time frame that is why people think it happened because of luck.

Just don't listen to the opinions of these dumps cause they are not even understand the fundamentals of gambling and trading which are completely different.

Yamane_Keto

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An uncalculated or random investment in Bitcoin without a clear strategy is closer to gambling, but the opposite is not true.
Not every investment in Bitcoin is gambling, but rather an adventure in a high-risk, volatile asset. Your knowledge and analysis of price patterns, and risk-calculated investment in assets you don't need soon reduces those risks and turns them into a good investment or the best long-term investment.
Your knowledge and dealing with risks will determine whether it is a good investment or closer to gambling.

More can be added but this will not be the easiest definition of the difference between them.

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Quote from: gunhell16 on July 13, 2023, 04:05:00 AM

You mentioned that the level of Bitcoin is high and then in the end you say that Bitcoin is like gambling, which means you don't understand its concept 100%. That understanding that Bitcoin is the same as gambling is the attitude of a gambler and not the attitude of an investor.

Any decision has risk and probability to fail so it is gambling somewhat. By doing due diligent research and only invest in what you think it has many good fundamentals, you reduce risk and probability to fail. The gambling factor for your investment will be smaller but it is still there.

Quote

That's why investors see bitcoin as assets that will give you profit in the future, in short, you know that you will get some profit here, it's far from gambling where you hope that you might get lucky. It's not like that with Bitcoin when you buy it and hold it for a few years.

It depends on what cryptocurrency they invest in. They can have less risk by investing in Bitcoin but if they don't invest in Bitcoin and choose altcoins, they are increasing the gambling factor for their investment decision. I can not call them as gamblers and they don't consider themselves as gamblers too. After doing their research or due diligent research, they are more like investors but with altcoins, investing looks to like gambling.

gunhell16

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Those are your assumptions, and I noticed from what you said that you also contradicted what you mentioned, you know that Bitcoin is a decentralized digital currency that can be used in transactions whether cash-in or cash-out, trading for us to earn. You were right about this.

You mentioned that the level of Bitcoin is high and then in the end you say that Bitcoin is like gambling, which means you don't understand its concept 100%. That understanding that Bitcoin is the same as gambling is the attitude of a gambler and not the attitude of an investor. That's why investors see bitcoin as assets that will give you profit in the future, in short, you know that you will get some profit here, it's far from gambling where you hope that you might get lucky. It's not like that with Bitcoin when you buy it and hold it for a few years.

Topic: Bitcoin trading and gambling - page 8. (Read 1404 times)