Topic: Crypto hodling as a form of gambling! - page 5. (Read 1026 times)

The comments appear to be split between those who are of the opinion that cryptocurrency hodling is gambling and those who think it isn't.

In concept, any venture where you do not wield sufficient control over the outcome is a sort of gamble. As you are not certain of the result. But this would classify any financial investment as a gamble, which it is in a way.
But the absence of odds and bookmakers and a wager or stake, make it white different from a conventional gambling concept.
I would say not, it is a gamble but not a form of gambling.

Let me give my views on cryptocurrency as a whole from two perspectives

1. Bitcoin as a form of Payment/Currency :

   When satoshi created bitcoin, he thought of using it as a global currency without any middleman handling out the trades, escrows etc. But with alternate coins came into practice the whole market changed enough such that bitcoin and other coins are considered as an investment rather than being used as a currency. You can see to it in the whitepaper that satoshi mentioning of a e-commerce sort of marketplace which can be accessible globally and the payments can be made through bitcoin. The primary goal has changed completely with trading taken into practice. I am a believer of bitcoin as a secure currency rather than a trading investment. Of course I do buy btc during lows but never sells them during price hikes. I would buy more products during ATH so that practically I am spending very little money on the product. Apart from btc, I am a fan of Ethereum and Monero both having a good development and help in solving various real world problems.

2. HODLing/Trading Shitcoins is an absolute Gamble :

   Hodling and trading shit-tokens/coins is considered as a absolute gambling sort of strategy. Shitcoins have some of the worst scam teams in the whole internet and people tend to believe in those with a speculative nature such that this might become the next Ethereum/Monero and they would become millionaire sort of. Investing in a luck based pump and dump game can be considered as gambling with your money rather than considering it as an investment. My friend is a believer of get-rich-quick schemes right from 2017 Q4 and has invested around $1100 in various shitcoins. Though the coins had a strong team, they were not able to recreate the pump from 2017. Eventually he lost around $800 in 1.5 years and currently he is having a portfolio of $300. The luck based shitcoin pump is a once in a lifetime opportunity which will either make you rich or simply make you poor with all the money being burnt.

It's not gambling. You let greed and emotions over ride your judgement. Of course, after the All Time Highs, price reversals we expected. It always happens unlike in gambling where you don't usually know the outcome.

Now after missing that time of selling of at the ATH, you just had to wait for 2-3 years before we get back highs. If you bought ICOs and shitcoins and held them then of course it was a mistake.

All investment is sort of a gamble including those altcoins you bought.  I stand the test of time actually, some of the coins that I hold which was worth more than $60k during the bull market is now just worth $1k+. I forgot its wallet password already due to it. I guess I can consider it lost. There were regrets but I'd just focus on making money after all it already happened.

Unpredictability can be called as gambling so holding the cryptos is also kind of unpredictable outcome so we can never satisfy ourselves at what stage we need to come out of it.But this is not pure form of gambling and also we cans ave us from total loss when we are actively involving in the crypto related things which is the think decide what is going to happen for the cryptos in future.

I don't think that holding crypto is a form of gambling. Because in the long run, crypto prices are bound to surge because of growing demand and limited number of availability also, the growing population will also make its demand surge!

Well, that is a typically yes, investing in bitcoin or in general, the whole crypto is very risky and that is can consider a form of gambling due to the market is unpredictable movement. Just like OP said he invested when the market was in a bull situation back then but after a month it was suddenly going down and he loses what he invest. Indeed, we lose if we sell and can't wait until it back to the normal situation, unlike if you can wait and make a better profit.

I don't agree, investing for me is still gambling, check out those people who lost a lot from investing in ICO, some of them lose their effort time and money because they thought if they are going to hodl this new coins they are also going to make a profit in a long run, just all the other that came before them, but these people invested in Bitcoin and other coins that have real value.

It can be done properly when you take your time learning the basic understanding regarding to this industry, it will not be a gamble if you're going to focus with every possible potentials, know what you are dealing with and keep increasing your skills, knowledge will be your tools not to gamble with fate but to address proper pathways to take to work with your investment.

Hmmm sounds like that. For someone who has a mentality of YOLOing with his crypto investments and just choose coins whatever he wants even without valid research and study, it can be said as a gamble.

Emphasizing that it's a sort of gamble but in others perspective, they'll say that it's still different.

It is indeed gambling but compared to gambling, time is your enemy, you have no idea when are the coins that you are hodling will reach their all-time high, and every day you have to follow the market and how your portfolios react, one thing that you need to study or to plan is when is the right to sell your coin.

 

Yes holding is like a form of gambling because youre expecting in the future to multiply your money or No value at all. Its really hard to live in crypto but if you got luck this only have the chance to be rich instant if you are a token holder. Bigtimers are going to be more richer also. 2

For me, yes you might consider crypto holding as a form of gambling, holding your crypto and waiting to a much sufficient amount is like playing poker if you are a safe player and waiting to a great card to make sure the money it's like trading or holding. But the game is much different like in gambling, holding your cryptocurrency has a different risk, you can't tell what time will be the most profitable moment and also its difficult to predict if the price will increase or decrease unlike in gambling that if you hit the jackpot/ win you will know that amount that you have won.

that is if you max out all your balance but if you only bet half you will still have some balance left on your gambling account if ever you will loose . that half balance left on your account can still make a comback and give you profits as soon as your luck gets you  .

gambling is called a gambling because its a form of gambling  but holding a crypto is i think not a form of gambling because your only hodling it at the first place . your not using it to play a gambling . you can also convert it to a stable coin to prevent the price from fluctuating 

If the other people don't know why we pick that coin, then they can say that it is gambling. But if they know the reason, I don't think that they will say that is gambling because if we decide to buy that coin, we already analyze from many things, so we pick that coin to buy.

If we buy any coins without analyzing, then it will be gambling because we don't know when we can make a profit. But the risk of trading will be almost the same as gambling because we can get lose the money that we use to buy that coin.

The topic goes back the the same argument which has been discussed a lot of times already. If trading and gambling is the same. If you hold Bitcoin or Alts yes there's a risk that the value of Bitcoin is different after a few days or even weeks but in Gambling if you placed your bet on the wrong color, you loose everything not a fraction. That's why I don't think its a form of gambling.

Exactly, this is not a gambling like playing a luck based games like dice, roulette and other forms of luck based gambling.
We invest because we are confident with our analysis that we will be profitable in the future, in short, we are betting on the future of the coins we are investing and we can afford to loss the money invested in case our investment fail.

Holding gives more chances to gain more profit than gambling because the percentage of winners in gambling is very small and that's stressful enough compared to just holding and waiting for the right time to sell.

Because of ignorance about coins being hold for a long time and putting the money there then indeed, holding can be said to be a form of gambling because there is the same thing there about risking your money and also, making analysis and predicting it in the beginning shows that activities like this the same as gambling but basically holding and gambling will be different if you look at it from the other side like luck.

In the area of risk I do agree with you that holding some coins is a form of gambling. I have been trading and hold since 2016. Both are very risky but remember that life itself is a risky thing and gambling! If some people know that going out they are going to die they will not go out that day but people go out daily with the hope that they will be back home safe. That is how buying and hold cryptocurrency is. It is not fully safe!.

You can think off on other way like on the money invested on the said crypto you are holding.You cant be sure if those tokens will have that rising value into the future even if you are just on static you are still risking up money and tendency on losing it and we know that any investment is just like a gamble since we wont know if it would succeed or not but the difference on here is that you do able to know and analyze on where you do put up your funds.