Crypto hodling as a form of gambling! - page 2.

pieppiep

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Quote from: iMark on September 14, 2019, 05:48:47 AM

Quote from: lienfaye on September 14, 2019, 02:47:42 AM

Quote from: Darker45 on September 14, 2019, 02:35:38 AM

If we think broadly of the word gambling, it could actually be used in so many things. Even life is a gamble somehow. Marriage is the same.

You have a point. If there's no assurance for the outcome then its gambling.

Holding crypto is like gambling as well because we dont know the future of our holdings.

Just like now all of my coins in my portfolio is slowly losing their value but I keep holding because I know the risk if you invest in crypto.

Yeah, there's no guarantee you will profit or be happy. then you do gambling. but if you do something that can affect the final result then it's not called gambling. we know that a lot of people are starting to adopt bitcoin, there is a guarantee that prices will definitely rise in the future, so I don't call that gambling.

Both of you are right, and I don't have any doubt about that. Holding crypto is not gambling because we know how to analyze the coins price moves so that we can prevent losing money. And we have so many coins that can give us a way to make a profit in the future.

Crypto holding will be gambling if he can not watch and analyze the market and only depends on some people strategy. He will lose his investment value, and he cannot make a profit from gambling. But if he can know what decision he should use so he can have a chance to win the money.

If that person in the marriage, they need to open or share what they did to their wife or husband, so there is no miscommunication between them.

Oilacris

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Quote from: jhongzjhong on September 15, 2019, 03:32:40 PM

Quote from: AmoreJaz on September 15, 2019, 03:22:59 PM

[SNIP]
...hodling might be considered as long process of gambling???

I guess it might be yes. If you are not monitoring the crypto market price then it would be gambling but if you know you can simply sell your holding coins in order to cut your loses. However, this is a case to case basis. If we compared both these holding and gambling, the worst I guess is gambling rather than holding. But when it comes the whole concept and outcome they are both gambling that risk money.

Well said which is definitely true.When we do talk about essence of risking money then they are similar but talking about the level of risk then they can be differentiated.

You can lessen up the risk on hodling if you do know on what you are doing not just randomly buying some stuff or coin and wait for its price to rise up.Always rely into those being mostly supported like BTC or ETH.

SquallLeonhart

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Quote from: Tungsten-1 on September 13, 2019, 11:22:00 AM

Quote from: babysweetTiger0401 on September 13, 2019, 09:08:24 AM

In every form of investment, it means you are a risk taker were you are willing to gamble you capital. Therefore, if you are holding the alts for long term the risk was very minimal if the coin you bought are really promising and has a potential in the market, but if you choose the wrong coins even you hold it for long term, in the end you loss will loss it.

No doubt to win in crypto it’s really very important for you to have promising coin now a days all coins are good but the most promising Altcoin to hold for long term is bitcoin and Eth. In gambling it takes time to search decent website but the holding is good for bitcoin and Eth the most. Risk is the part of our life so never be afraid of taking risk.

Point of correction, not all coins is okay to purchase and all coins can never be categorized as been well simply because they are all cryptocurrency. It is very important to look into the very promising coins and be sure they have existed for quite some time.

I invested in a lot of new coin some time ago and I lost really bad, in short, I think I can no longer account for some of them now, this is because I believed all coins are safe and promises to be great but I made a mistake, now I have realized that Bitcoin and Ethereum is really the best, it’s just that they are expensive to afford but it can be bought in bits. It’s not necessary to own a Bitcoin; there are options of buying in smaller units. This is what I do and I believe quality is far better than quantity.

jhongzjhong

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Quote from: AmoreJaz on September 15, 2019, 03:22:59 PM

[SNIP]
...hodling might be considered as long process of gambling???

I guess it might be yes. If you are not monitoring the crypto market price then it would be gambling but if you know you can simply sell your holding coins in order to cut your loses. However, this is a case to case basis. If we compared both these holding and gambling, the worst I guess is gambling rather than holding. But when it comes the whole concept and outcome they are both gambling that risk money.

AmoreJaz

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Quote from: qwertyup23 on September 15, 2019, 11:07:28 AM

Quote from: bitsurfer2014 on September 04, 2019, 11:29:07 AM

At hindsight, people may be confused about the distinction between hodling and gambling, although they are different in nature. The results may be the same but in hodling, the risk is relatively lower compared to gambling. Not to mention, the turnover of resources is faster in gambling which has the potential of either making or breaking your whole investment.

As a general rule, hodling may be profitable depending on the amount of your capital and the amount that you are willing to risk. There are also factors that can be considered to decrease the chances of losing your money. But in gambling, relying on such luck and odds may be your only scapegoat. If the odds are against you, no matter how much you deposit, then you are really bound to lose.

good analogy about the major difference of gambling and hodling. in hodling, you can prolong the outcome of your decision but in gambling, you can see the results of your decision much much faster. so you know where your money is heading in gambling.
but yeah the end results might be the same but somewhere in between the process, the person have different approach in dealing these 2 = gambling and hodling. hodling might be considered as long process of gambling???

jostorres

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Quote from: Darker45 on September 14, 2019, 02:35:38 AM

Gambling is referred to differently in this story. Gambling here is referring to the possibility of being rewarded or losing in the end but there is no game involved, thus is it is different than the gambling that we might refer to in this section. If we think broadly of the word gambling, it could actually be used in so many things. Even life is a gamble somehow. Marriage is the same.

I don’t think you read the topic and if you did, I believe you didn’t get The story very well, the OP only explained how he held his coin for a while and then decided to sell lesser than he got which is the reason he considers crypto holding as another form of gambling which plainly means risk and uncertainty. So basically, gambling in the context is basically talking about risk and uncertainty.

I agree with what the OP has said because I have suffered a similar experience and mine was even worse because I bought a very trash coin and I waited for a very long time, eventually when I considered selling, it was far below cost price, so I can relate with the post but not cryptocurrency in general is like gambling.

Golftech

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Quote from: lienfaye on September 14, 2019, 02:47:42 AM

Quote from: Darker45 on September 14, 2019, 02:35:38 AM

If we think broadly of the word gambling, it could actually be used in so many things. Even life is a gamble somehow. Marriage is the same.

You have a point. If there's no assurance for the outcome then its gambling.

Holding crypto is like gambling as well because we dont know the future of our holdings.

Just like now all of my coins in my portfolio is slowly losing their value but I keep holding because I know the risk if you invest in crypto.

You are betting with your fate and it's gambling in some point. You have to face reality that inside this industry, there's no certain, and any assurance that you'll be able to earn or lose your money after taking your position. The moment you invest inside to any projects, you are already considered gambling.

Holding and continue working even it takes time, you'll never know what future will bring you. It takes some guts to patiently wait for any results

qwertyup23

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Quote from: bitsurfer2014 on September 04, 2019, 11:29:07 AM

At hindsight, people may be confused about the distinction between hodling and gambling, although they are different in nature. The results may be the same but in hodling, the risk is relatively lower compared to gambling. Not to mention, the turnover of resources is faster in gambling which has the potential of either making or breaking your whole investment.

As a general rule, hodling may be profitable depending on the amount of your capital and the amount that you are willing to risk. There are also factors that can be considered to decrease the chances of losing your money. But in gambling, relying on such luck and odds may be your only scapegoat. If the odds are against you, no matter how much you deposit, then you are really bound to lose.

EdenHazard

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Quote from: dothebeats on September 12, 2019, 11:10:40 AM

Everything in this whole scene is technically a gamble because of the risks it bring and the uncertainty that comes with it. Don't get me wrong, cryptocurrencies have already established its footing in the world economy, but still there is this slim chance of it failing along the way even though it's arguably one of the most sought-after fad in contemporary times. Add to that fact the volatility of its pricing. It's entirely a gamble as a whole; heck, everything including money is a gamble be it direct or indirect!

Couldn't agree more with you, if you describe gambling as risking something in hopes higher return and you know the process itself is so uncertain & unpredictable then yeah it is what it is.

But at least if you educate yourself about the whole thing about bitcoin / cryptocurrency... you might would feel better... feel better than it's just gambling but there's a lot of math factors behind bitcoin ... that runs the ecosystem, it's indeed still uncertain but won't lie / cheating like what most people accused on casinos.

So better to educate yourself and you won't feel that way anymore.

SirLancelot

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Quote from: Oilacris on September 13, 2019, 10:16:47 AM

Even investing on Bitcoin itself doesn't guarantee profits because no one can predict on what would be the future looks like but somehow

looking at the current situation of bitcoin which is mainly being supported as the main crypto then we can presume that it would really have that
bright future for longer runs.As an investor it isn't really avoidable not to think about alternatives to have the possibilities on earning more that's why
we do end up on risking into other choices of coins in the market.

I don’t think you know so much about Bitcoin if you do and if you have followed the history, you would know that it the best, safest and most profitable form of investment. The only requirement for Bitcoin is patience and this is where a lot of its investors miss out. Bitcoin is not a Ponzi scheme, you can’t put in your money today and expect it to have multiplied in the next few weeks, only few people get lucky with such, when they buy low and it starts to increase immediately.

Smaller coins are risky, I would prefer to buy the smallest of Bitcoin than to buy coin that I cannot be sure of its tomorrow. Bitcoin might be volatile but profit is always guaranteed.

Finestream

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Quote from: Darker45 on September 14, 2019, 02:35:38 AM

Gambling is referred to differently in this story. Gambling here is referring to the possibility of being rewarded or losing in the end but there is no game involved, thus is it is different than the gambling that we might refer to in this section. If we think broadly of the word gambling, it could actually be used in so many things. Even life is a gamble somehow. Marriage is the same.

I think we are confuse with the meaning of gambling and gamble, just for clarity, I made some research on the difference between the two.

Based on https://wikidiff.com/gamble/gambling.

Quote

As nouns the difference between gamble and gambling is that gamble is a significant risk, undertaken with a potential gain while gambling is an activity characterised by a balance between winning and losing that is governed by a mixture of skill and chance, usually with money wagered on the outcome.

Therefore, when you are into marriage, you did not do gambling but you gamble since you don't know what your marriage will come out.
Gambling involves money, and crypto holding although easy to do, this also requires a skills when selecting the right coin to hold, so it's similar to gambling.

iMark

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Quote from: lienfaye on September 14, 2019, 02:47:42 AM

Quote from: Darker45 on September 14, 2019, 02:35:38 AM

If we think broadly of the word gambling, it could actually be used in so many things. Even life is a gamble somehow. Marriage is the same.

You have a point. If there's no assurance for the outcome then its gambling.

Holding crypto is like gambling as well because we dont know the future of our holdings.

Just like now all of my coins in my portfolio is slowly losing their value but I keep holding because I know the risk if you invest in crypto.

Yeah, there's no guarantee you will profit or be happy. then you do gambling. but if you do something that can affect the final result then it's not called gambling. we know that a lot of people are starting to adopt bitcoin, there is a guarantee that prices will definitely rise in the future, so I don't call that gambling.

lienfaye

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Quote from: Darker45 on September 14, 2019, 02:35:38 AM

If we think broadly of the word gambling, it could actually be used in so many things. Even life is a gamble somehow. Marriage is the same.

You have a point. If there's no assurance for the outcome then its gambling.

Holding crypto is like gambling as well because we dont know the future of our holdings.

Just like now all of my coins in my portfolio is slowly losing their value but I keep holding because I know the risk if you invest in crypto.

Darker45

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Gambling is referred to differently in this story. Gambling here is referring to the possibility of being rewarded or losing in the end but there is no game involved, thus is it is different than the gambling that we might refer to in this section. If we think broadly of the word gambling, it could actually be used in so many things. Even life is a gamble somehow. Marriage is the same.

pieppiep

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Quote from: Tungsten-1 on September 13, 2019, 11:22:00 AM

Quote from: babysweetTiger0401 on September 13, 2019, 09:08:24 AM

In every form of investment, it means you are a risk taker were you are willing to gamble you capital. Therefore, if you are holding the alts for long term the risk was very minimal if the coin you bought are really promising and has a potential in the market, but if you choose the wrong coins even you hold it for long term, in the end you loss will loss it.

No doubt to win in crypto it’s really very important for you to have promising coin now a days all coins are good but the most promising Altcoin to hold for long term is bitcoin and Eth. In gambling it takes time to search decent website but the holding is good for bitcoin and Eth the most. Risk is the part of our life so never be afraid of taking risk.

Before we invest in anything, we should know and learn about the risk so we can know what we should do if something goes wrong. But I agree that crypto holding is part of gambling if we don't have any tutorials or guide in selecting the coins. That could lead us to get a lost in the money because we cannot buy and hold the right coin.

Whenever you want to do something, you should think about the risk and if the risk is not too big or it is too big, but if you agree with that, then you should prepare for the worst thing and keep everything runs properly. Besides that, I think with managing risk, you will know how to manage what you did so you can reduce the risk.

buwaytress

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I participated in a funny experiment that lasted for 2 rounds, 10 months each, with some of the forum regulars. I don't remember exactly how it turned out in the first one but we all lost money (buying for bitcoin and holding alts for 10 months). Didn't stop me from playing again, as it really was just for fun. This time, we were mainly in profit, right until the 9th month. As soon as we hit the 10th month, prices dived.

Lesson, gamble against btc at your own risk;)

Tungsten-1

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Quote from: babysweetTiger0401 on September 13, 2019, 09:08:24 AM

In every form of investment, it means you are a risk taker were you are willing to gamble you capital. Therefore, if you are holding the alts for long term the risk was very minimal if the coin you bought are really promising and has a potential in the market, but if you choose the wrong coins even you hold it for long term, in the end you loss will loss it.

No doubt to win in crypto it’s really very important for you to have promising coin now a days all coins are good but the most promising Altcoin to hold for long term is bitcoin and Eth. In gambling it takes time to search decent website but the holding is good for bitcoin and Eth the most. Risk is the part of our life so never be afraid of taking risk.

DoublerHunter

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Quote from: babysweetTiger0401 on September 13, 2019, 09:08:24 AM

In every form of investment, it means you are a risk taker were you are willing to gamble you capital. Therefore, if you are holding the alts for long term the risk was very minimal if the coin you bought are really promising and has a potential in the market, but if you choose the wrong coins even you hold it for long term, in the end you loss will loss it.

^ It is a different thing I guess. Investing and holding for a long term are yet very risky but if you are monitoring on it you can cut your lose and keep the capital. While in gambling, I guess this is more worst than holding coin in your portfolio. If you can't control your self and probably all your money will lose. Nevertheless, this statement that I consider that investing and trading is just a sort of gambling but not too risky if you are monitoring the market price.

Oilacris

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Quote from: Kasabus on September 13, 2019, 08:39:12 AM

Quote from: DeathAngel on September 12, 2019, 12:22:04 PM

HODLING is gambling because you know that in time you are going to win Wink

Look at price charts since the first block was mined, bitcoin goes in one direction overall - up.

You are talking of a successful coin which is bitcoin, the crypto market is a big market with thousands of coins, therefore, when choosing the right coin, that is the part where were are gambling because we never know that what we are holding will be successful.

Moreover, people hold with different target of profit, bitcoin is no doubt profitable but if we will hold it now and will focus only in btc, can we maximize our profit? that's the big question as majority of investors does not have big money to invest, we invest small and aim for big return.

Even investing on Bitcoin itself doesn't guarantee profits because no one can predict on what would be the future looks like but somehow

looking at the current situation of bitcoin which is mainly being supported as the main crypto then we can presume that it would really have that
bright future for longer runs.As an investor it isn't really avoidable not to think about alternatives to have the possibilities on earning more that's why
we do end up on risking into other choices of coins in the market.

jhonjhon

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Crypto holding can be considered gambling because you take risk in spending on something that you don’t know the odds will be. Crypto market is very unpredictable that we can’t really determine when the price is going to rise or go down but like gambling if you become lucky when holding then you can win big time.
On the other hand, in crypto holding it may take some time waiting and it’s tiresome to wait so if you want to earn while waiting for the price to rise why not enter trading, you can scalp a few some of your coins and invest in trading it’s a little better rather than just doing nothing and just waiting.

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