Topic: Crypto hodling as a form of gambling! - page 6. (Read 1026 times)
Holding crypto is static because, you as the holder isn't trading with it while gambling with crypto is dynamics, because there is the tendencies of doubling the coon, then how can we call holding as a form of gambling? The two are significantly different and are different entity.
Crypto holdings is a form of gambling, because we don't know what is the peak price of the respective assets. Some get lucky to earn big predicting the ath price. I missed the days of 2017, and fed up as there is no big growth till days. Finally sold all my crypto holdings losing hope. Looking upon few of the posts I too get to be positive about the crypto holdings.
in my opinion, the name can multiply can also be called gambling, but not all of it can be called gambling like investing. in my opinion investing cannot be called gambling, because many people and entrepreneurs do it transparently.
It might be a form of gambling, the only difference is that...it doesn't need luck but it needs well-defined strategies and good choice of coin. Not only just seeing "we can afford to lose" cause we never think that and in our mind we must earn something and pushing ourself to face the risk in crypto.
People hold their coins cause they want to save from losing and it is a good idea. Only it sad that many don't get it, instead they lose their patience.
People hold their coins cause they want to save from losing and it is a good idea. Only it sad that many don't get it, instead they lose their patience.
Ever since I've got into cryptocurrency, I've had several experiences on the prices on some of my holdings achieved ATH's in a matter of months alone especially on the 2017 bull market and was thankful I didn't sold out early when I got them. Having had a positive feeling about it, I became reluctant to sell some of these cryptos even at the height of its price thinking that I may gain more from them in the future and also believing that this projects have very good fundamentals and does have a room for growth!
Then at the beginning on the 1st quarter of 2018 (which started the period for bearish market), crypto prices nosedived sharply and in a matter of weeks my portfolio begun to shrunk and was reduced significantly but then again I was overpowered by my belief that crypto will have an eventual rebound in which I was wrong! Over a period of short time, I was forced to sell those cryptocurrencies at a significantly lower price and accepted my loss which led me to believe that hodling is indeed a form of gambling and thus has a risk / reward factors associated with it.
Until now, I don't have any regrets but only have lessons learned from this experiences and will remain having a positive outlook on cryptosphere because I know gambling will let us "win some and also lose some".
I know some of you had already been on the same kind of experience just like me.
Then at the beginning on the 1st quarter of 2018 (which started the period for bearish market), crypto prices nosedived sharply and in a matter of weeks my portfolio begun to shrunk and was reduced significantly but then again I was overpowered by my belief that crypto will have an eventual rebound in which I was wrong! Over a period of short time, I was forced to sell those cryptocurrencies at a significantly lower price and accepted my loss which led me to believe that hodling is indeed a form of gambling and thus has a risk / reward factors associated with it.
Until now, I don't have any regrets but only have lessons learned from this experiences and will remain having a positive outlook on cryptosphere because I know gambling will let us "win some and also lose some".
I know some of you had already been on the same kind of experience just like me.
Not only hodling but investing in Cryptocurrency is a form of gambling, this is the reason why you should only invest what you can afford to lose, I also experience that not selling some of my coins in their all-time high, I have a lot of opportunities to sell some of my coins and make huge profit, one of these coins is Kucoin it reaches $15, and was hoping that it will reach $50.
Unfortunately, it drops I was on vacation and only find out that it drops significantly after coming from vacation, it's really important to sell some at the right time.
Ever since I've got into cryptocurrency, I've had several experiences on the prices on some of my holdings achieved ATH's in a matter of months alone especially on the 2017 bull market and was thankful I didn't sold out early when I got them. Having had a positive feeling about it, I became reluctant to sell some of these cryptos even at the height of its price thinking that I may gain more from them in the future and also believing that this projects have very good fundamentals and does have a room for growth!
Then at the beginning on the 1st quarter of 2018 (which started the period for bearish market), crypto prices nosedived sharply and in a matter of weeks my portfolio begun to shrunk and was reduced significantly but then again I was overpowered by my belief that crypto will have an eventual rebound in which I was wrong! Over a period of short time, I was forced to sell those cryptocurrencies at a significantly lower price and accepted my loss which led me to believe that hodling is indeed a form of gambling and thus has a risk / reward factors associated with it.
Until now, I don't have any regrets but only have lessons learned from this experiences and will remain having a positive outlook on cryptosphere because I know gambling will let us "win some and also lose some".
I know some of you had already been on the same kind of experience just like me.
Then at the beginning on the 1st quarter of 2018 (which started the period for bearish market), crypto prices nosedived sharply and in a matter of weeks my portfolio begun to shrunk and was reduced significantly but then again I was overpowered by my belief that crypto will have an eventual rebound in which I was wrong! Over a period of short time, I was forced to sell those cryptocurrencies at a significantly lower price and accepted my loss which led me to believe that hodling is indeed a form of gambling and thus has a risk / reward factors associated with it.
Until now, I don't have any regrets but only have lessons learned from this experiences and will remain having a positive outlook on cryptosphere because I know gambling will let us "win some and also lose some".
I know some of you had already been on the same kind of experience just like me.
You are not the only one that witnessed that episode at the time but outrightly saying holding means gambling is to the extreme. Everyday we take risks even outside crypto. For stepping out of the bed in the morning is a risk because you don't know whether you will miss your steps or even have an accident along the line. You go to work, its a form of risk because you might get injured, arrested, accused of something you didn't do but that does not mean you stop going. Its a risk but it doesn't mean you have been gambling with your life.
Gambling on its own is a conscious activity carried out because you want to increase your returns by wagering some amount of money in return. In the case of holding, you are not risking any fund, you only have unrealised profit or losses by the funds in your wallet which does not increase one bit. Its the circumstances that surrounds it that makes it look like gambling but its simply taking a risk.
You're not alone on this, people are expecting for a big rebound but unfortunately, it did not come, now people are still waiting for another all-time high that should have come but it's not coming, part of being a good investor is to know when to buy and also when to sell your coin, timing is indeed everything.
If you pick the wrong coin, then that will be gambling, but as long as you can select the right coin with analyzing the coin, I don't think that will be gambling.
Whether you chose the right or wrong coin, in the very first place you have already took the risk and that makes it look like gambling for others. However, cryptocurrency trading doesn't really qualify as a real gambling, maybe the right word should be skill-based gambling? But it is still more predictable than skill-based gambling though.
I think that's also my take on this matter although it does have risk taking but classifying it as a form of gambling, it's a different thing. If the classification of trading or investing into something such as holding cryptocurrencies is considered as gambling then investing to stock market should have been classified first as real gambling.
Well i kinda agree here cryptocurrency hodling is a gamble especially at this stage where the price of cryptocurrency especially bitcoin goes up and down but the real winners here is the early adopters they almost profited 20000x when the price of bitcoin is surging really fast back in 2017 also, the were some investors who lost a huge amount of money when the price of bitcoin start to go down in 2018. The stock investing is also a gamble too since your money depends on how good your company which you've invested in performs so, in other words, investing whether in cryptocurrency or not, is a gamble where the winners, gain profit and the losers lose their money.
Well, nothing goes up forever. Prices of cryptocurrencies are expected to fluctuate. The "nose-dive" and long bearish market came as a surprise to many. So it is safe to say that they are rare events. What we are going through at the moment is unlike Crypto we were used to. .
However, cryptocurrency trading doesn't really qualify as a real gambling, maybe the right word should be skill-based gambling? But it is still more predictable than skill-based gambling though.
However, cryptocurrency trading doesn't really qualify as a real gambling, maybe the right word should be skill-based gambling? But it is still more predictable than skill-based gambling though.
Holding is risky but somehow you can predict the future of your coins depending on how good and well-established it is. Sometimes its our lack of patience why we are losing, we didnt wait so we decided to sell but you have an option. Its just that you chose to end waiting because of no assurance if your coins will recover or not.
Unlike gambling that is mostly about luck, investing and holding is different because you can do something to avoid making a wrong decision, you can choose a good coin like btc and wait for price pump. Though I also have coins that are slowly losing its value I dont sell yet even im aware of the consequences if ever the price didnt bounce back, its because im prepared for the outcome whatever it is.
Unlike gambling that is mostly about luck, investing and holding is different because you can do something to avoid making a wrong decision, you can choose a good coin like btc and wait for price pump. Though I also have coins that are slowly losing its value I dont sell yet even im aware of the consequences if ever the price didnt bounce back, its because im prepared for the outcome whatever it is.
Yhup i agree because holding is very risky like gambling. The activity are quite the same .wherein we are making certain strategy and at the same time we are hoping for better results after.. Actually it's not Almost the same but we can call it as like that because indeed in holding crypto we risk money as well s right? So its like gambling and i believe all the things that we needed to risk a money is always a form of gambling....
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believing that this projects have very good fundamentals and does have a room for growth!
Now you realize that this certain point of your crypto life was a lie. Well, it's normal for a beginner to get deceived by these "promising" projects (I think so) so don't fell that you're a big loser because even me experienced the same thing. Anyway, past is past and since you already learned your lesson from this then that's already enough, what important is that you became a better investor now . which led me to believe that hodling is indeed a form of gambling and thus has a risk / reward factors associated with it.
Yeah! Sort of. For me it is a form of gamble in a sense that you are risking not only your money but mainly your time and hopes to a place full of uncertainties. I'm pretty sure that hodlers like us have the same question inside our heads such as "Is this coin really have a future growth?", "Should I continue waiting or sell now?", "Probably this is a shitcoin..". Those things inside of my head makes me really uncomfortable, it sucks but fortunately I can still handle it or let's say I'm used to pressure already lol 
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The main reason why I do not like to bet on casino games and Sports betting is simple for this reason alone
We are gambling 24 hours a day when we hold on to CRYPTO
This is not like a currency or something else of value because of its volatility we are always at risk of losing
We are gambling 24 hours a day when we hold on to CRYPTO
This is not like a currency or something else of value because of its volatility we are always at risk of losing
I only hold BTC so I don't consider it much of a gamble. If the price is too low then I just don't touch it, nothing lost, I still have the same amount of BTC.
I do feel holding anything else a gamble. There's no way to if the prices of a cheap crypto will ever go up or if a dumped crypto will ever recover.
Good way to stay in the right position whenever you have optimistic approach and not to allow yourself to think that you are gambling with your fate, in some manner people thinks that because of this never ending sways the market been considered as playing a gambling types of investing though you should be calm and not to be bothered, continue with how you understand the industry and draw your own results. I do feel holding anything else a gamble. There's no way to if the prices of a cheap crypto will ever go up or if a dumped crypto will ever recover.
Some of us too have undergone that and still going too. Some of our coins are totally worthless now while some have been delisted too. Is sure a real gamble to hodl.
Yes, in your own case with etheruem, I will also hodl if I had the coin until it starts getting profit and I can sell then if I want to because etheruem is a valuable coin and will still bull.
Good to know you later sell some of your holdings as at the time the market has gone to the current level it is now. I have had same experience and up till now am still yet to recover from the lost. I have been holding ethereum since the year 2017 till now with the hope that market its Market will return to where it was but to avail up till this moment, but my decision now is that I rather lose all my ethereum than to sell at this ridiculous value at the moment.
Yes, in your own case with etheruem, I will also hodl if I had the coin until it starts getting profit and I can sell then if I want to because etheruem is a valuable coin and will still bull.
If you do it blindly without doing any researches about the coin you are going to hold then yes it is a form of gambling, if you do researches as well as doing it with a plan then I cant say it as gambling but investing. Obviously there is always a risk of holding crypto as there is no guarantees that holding = profit. I'm quite sure there are many people have the same experience as you including me and I do not regret it too as it is a part of investing where we need to be ready for all possible result especially a lose.
Thats right, without a deep calculation then trading and holding that you do will be the same as gambling, because you only depend on your luck to profit because you can only hope, hoping in a trade won't mean anything, hoping only for gambling.
Probably it will depend on how you manage your crypto holding. Yes, the crypto market movement is so unpredictable and fluctuate every now and then. You don't have a loss if you keep holding on it while the price dragging down sharply, there's possible that it will pump again and sell if your profit was there. Following in emotion will lead you from a massive loss, you should also control this attitude.
Not like gambling, it required luck for those based on luck game and pure skills on gambling that based on skills game. For me, they are both different concepts and I won't consider that holding in bitcoin is a form gambling, only weak hand can say that word and can't wait to hold for a long term.
Not like gambling, it required luck for those based on luck game and pure skills on gambling that based on skills game. For me, they are both different concepts and I won't consider that holding in bitcoin is a form gambling, only weak hand can say that word and can't wait to hold for a long term.
Looking at your stories i think in my view it's not more than you were losing your chance to get better price to sold your crypto assets because back again you were too greedy and thought the price of crypto always be good which is near to impossible and for me your hold is not a gambling because there is a chance to sold your assets but indeed you missed that opportunities and got false predictions and i think there are big difference between gambling and crypto holding that gambling required luck to get the money but for holding the particular coins i think patience is the key to get right opportunities to sold
"Hodling is a form gambling?" I don't think so, but it depends on how you manage your trade, how you hold a coin. If you hold and then greedy, then it can be called gambling, holding also requires TP and SL, only with targets far high from daily trading.
well, but I'm quite impressed with you because you don't feel least bit sorry for your greed. That is exemplary, because we should be, making decisions and accepting all risk.
well, but I'm quite impressed with you because you don't feel least bit sorry for your greed. That is exemplary, because we should be, making decisions and accepting all risk.
Indeed! a little bit of greed in me might be the culprit behind these experiences but at that time, all I feel was euphoria and a great sense of optimism for cryptocurrency and all - having had experienced the benefits of joining the crypto rush!
Honestly, I feel no remorse on my past decisions, after all its all just part of being a human being! I hope this should serve as a reminder to our fellow crypto enthusiasts.
If you pick the wrong coin, then that will be gambling, but as long as you can select the right coin with analyzing the coin, I don't think that will be gambling. But yes, at this time, maybe some of us are gambling to buy any coin at the market, and we hope that one of the coins will be increased later. The percentage of the increase of the coin will not too bigger as we don't know which coin will increase. We only predict as what we usually do in the gambling, but we have less information about the coin details.
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