Crypto market=online casino | Bitcointalksearch.org

TheQuin

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Quote from: Pursuer on June 02, 2018, 01:51:42 AM

as for litecoin, it has been having more real usages for the past 2 years specially ever since they enabled SegWit and it gained a lot of publicity. and on top of that when bitcoin fees were ridiculously high it kind of pushed everyone towards altcoins, one of which were Litecoin.

That's something the Bcash shills always overlook. There are already alts that fill the need for low tx fee utility coins far better than Bcash ever could. Litecoin and Doge particularly both saw a surge in usage when Bitcoin fees were high but Bcash was just a pump and dump coin.

Pursuer

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Quote from: The Sceptical Chymist on June 01, 2018, 09:10:59 PM

Quote from: Pursuer on June 01, 2018, 01:02:42 AM

and then lose money does that make Stocks Market a big online casino?

It certainly would look that way, wouldn't it? And if you add the futures market on top of that, I would argue that much of Wall Street is really nothing more than a big casino. Absolutely. And especially when the stock market is in full bull mode, which it pretty much is right now.

And crypto? I've said this before, that it's much more like gambling in that these are extremely speculative currencies, the true value and utility of which are very much in doubt. Is there any reason why litecoin should be selling for $120 today, whereas it was about $3 a year and a half ago (roughly)? There's no reason I can see. Demand and its relation to bitcoin has inflated it, and many coins have been similarly affected. Betting on a shitcoin is very, very much like betting on the roulette wheel.

I still wouldn't call it gambling because when it comes to gambling (like rolling a dice) you have absolutely no way of speculating about the result. it is pure 100% chance. but in trading, even trading the most unpredictable altcoin there are still ways to speculate it and it may be 99% chance for such altcoin but for the rest and specially bitcoin it is not that bad it can even be less than 10% chance at times.

as for litecoin, it has been having more real usages for the past 2 years specially ever since they enabled SegWit and it gained a lot of publicity. and on top of that when bitcoin fees were ridiculously high it kind of pushed everyone towards altcoins, one of which were Litecoin.

liamnorthcoins

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Quote from: davis196 on June 01, 2018, 12:47:09 AM

Do you think the global cryptocurrency market is just like one giant worldwide online casino?
I have that feeling,when I trade on some crypto exchange platform.It`s like you are just "betting" on altcoin,token or BTC and hopping for the price to skyrocket.There`s no real investing involved,your money won`t create new jobs and lower the unemployment rate.The money goes from one trader to another.It`s a zero sum game.This is not a "win-win" situation.The sad thing is that Wall Street is the same type of "casino".
This makes the think that cryptocurrencies won`t change the world.
Nothing can change the "casino capitalism".

I disagree, those cryptocurrency is volatile and could be a form of gambling it is not actually the same as the gambling done in the casinos. Casinos are the kind of gambling done by mostly rich people mostly simply to HAVE FUN, if they win their happy if they loose which mostly is they dont get they simply shrug it off because the way i see it they just dont have something to do nd they want to kill time. For some who goes to casino to gamble and are not rich i call it an a ddiction of the gamble itself. They are simply psychologically needs attention. The gamble in casinos are of no significant reason nor value at all for me.

In cryptocurrencies especially in bitcoin this kind of gambling has given everyone the chance to get a better life. One may not get involve in investing big amount of money but could render their time and effort so to gain and after which what they have earn they can invest and with proper knowledge and decision making and luck it can grow bigger and
the profit could change the lives of their families.

Casinos and bitcoin are totally very different kinds of gambling for me. True hope comes when you know their is a real chance and success is attainable.

The Sceptical Chymist

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Quote from: Pursuer on June 01, 2018, 01:02:42 AM

and then lose money does that make Stocks Market a big online casino?

It certainly would look that way, wouldn't it? And if you add the futures market on top of that, I would argue that much of Wall Street is really nothing more than a big casino. Absolutely. And especially when the stock market is in full bull mode, which it pretty much is right now.

And crypto? I've said this before, that it's much more like gambling in that these are extremely speculative currencies, the true value and utility of which are very much in doubt. Is there any reason why litecoin should be selling for $120 today, whereas it was about $3 a year and a half ago (roughly)? There's no reason I can see. Demand and its relation to bitcoin has inflated it, and many coins have been similarly affected. Betting on a shitcoin is very, very much like betting on the roulette wheel.

abaidudez

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You have the point on that mate. I agree with you that it's like an online casino. Trading and investing anywhere is like gambling you bet and wish your money will gain some.

btc78

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Quote from: hisslyness on June 01, 2018, 06:54:52 PM

If so, who is "the house?"

Maybe if not,its the whales 'manipulator's' 😂

I dont know whats the real score but i believe in what OPs says ,that were almost the same in casino

And for sure many of us here agreed on this post,though its not totally gambling ,but its almost there

hisslyness

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If so, who is "the house?"

poplolnman

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Quote from: Denker on June 01, 2018, 12:06:12 PM

Quote from: davis196 on June 01, 2018, 12:47:09 AM

Do you think the global cryptocurrency market is just like one giant worldwide online casino?
I have that feeling,when I trade on some crypto exchange platform.It`s like you are just "betting" on altcoin,token or BTC and hopping for the price to skyrocket.There`s no real investing involved,your money won`t create new jobs and lower the unemployment rate.The money goes from one trader to another.It`s a zero sum game.This is not a "win-win" situation.The sad thing is that Wall Street is the same type of "casino".
This makes the think that cryptocurrencies won`t change the world.
Nothing can change the "casino capitalism".

Yes imo this is like gambling. But when you know, what you're doing and avoid taking too much risk, you can be profitable on regular basis.
Bitcoin I think for instance isn't that much of a gamble anymore. It was a few years ago. But today I see BTC as a long term investment opportunity.
However the lower you go down the list on coinmarketcap, the bigger the risk gets if you aim to hold any of those altcoins for a longer period of time.
That's why I prefer to day trade them and convert my profits into Bitcoin.

Gambling , predicting , trading and guessing is kind of similar thing but not at the same real meaning. There's a little difference and it has a big influence to make people understand and practice it. Crypto market could be gambled , predicted , traded etc just the matter of way you do it. Generally I wouldn't agree that it's just like an online casino , you just too much buy coins randomly and ended up disappointed.

Getcoinsite

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Quote from: davis196 on June 01, 2018, 12:47:09 AM

Do you think the global cryptocurrency market is just like one giant worldwide online casino?
I have that feeling,when I trade on some crypto exchange platform.It`s like you are just "betting" on altcoin,token or BTC and hopping for the price to skyrocket.There`s no real investing involved,your money won`t create new jobs and lower the unemployment rate.The money goes from one trader to another.It`s a zero sum game.This is not a "win-win" situation.The sad thing is that Wall Street is the same type of "casino".
This makes the think that cryptocurrencies won`t change the world.
Nothing can change the "casino capitalism".

Eversince i explore and learn cryptocurrency this is my outview about investing here,is like betting in gambling that you dont really know what will be the outcome of your money unless market decides..

Look about all traders,is there anyone here might say I Am Perfect Trader and i Never Loss?ofcourse there are none unless hypocrites .

Denker

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Quote from: davis196 on June 01, 2018, 12:47:09 AM

Do you think the global cryptocurrency market is just like one giant worldwide online casino?
I have that feeling,when I trade on some crypto exchange platform.It`s like you are just "betting" on altcoin,token or BTC and hopping for the price to skyrocket.There`s no real investing involved,your money won`t create new jobs and lower the unemployment rate.The money goes from one trader to another.It`s a zero sum game.This is not a "win-win" situation.The sad thing is that Wall Street is the same type of "casino".
This makes the think that cryptocurrencies won`t change the world.
Nothing can change the "casino capitalism".

Yes imo this is like gambling. But when you know, what you're doing and avoid taking too much risk, you can be profitable on regular basis.
Bitcoin I think for instance isn't that much of a gamble anymore. It was a few years ago. But today I see BTC as a long term investment opportunity.
However the lower you go down the list on coinmarketcap, the bigger the risk gets if you aim to hold any of those altcoins for a longer period of time.
That's why I prefer to day trade them and convert my profits into Bitcoin.

followmenot

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Sorry but I don't buy this argument. In casinos nearly every game has a rule where you lose everything at once. Cryptomarkets work in percentages, it pays off lot to informed & wise people.. Its BETTER than casino for wise men.

Taki

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Quote from: davis196 on June 01, 2018, 12:47:09 AM

Do you think the global cryptocurrency market is just like one giant worldwide online casino?
I have that feeling,when I trade on some crypto exchange platform.It`s like you are just "betting" on altcoin,token or BTC and hopping for the price to skyrocket.There`s no real investing involved,your money won`t create new jobs and lower the unemployment rate.The money goes from one trader to another.It`s a zero sum game.This is not a "win-win" situation.The sad thing is that Wall Street is the same type of "casino".
This makes the think that cryptocurrencies won`t change the world.
Nothing can change the "casino capitalism".

I'm not a trading expert but I have totally the same feeling on every investment that I've ever made. Of course it's not blind betting, you read the info about the coin and take some opinions and prognoses from the forum and only after you 'bet' your money, but prognoses not always come true. Look, for example there were experts who were saying that we will see a new bull run for bitcoin from April, but the price is just rolling down, who knows how many people believed those words and bet on bitcoin? I'm silent about those who better on it at the price 18-19000$ with the expectation that bitcoin will continue to grow! To me it all shows that trading is clear betting when the result doesn't depend from you or anyone else.

BrewMaster

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people always judge things based on the way they used those things themselves. in case of this market most people are treating it as a big gambling game where they can only make profit if they get lucky, granted when it comes to the altcoin market things are pretty unpredictable.

with the prices dropping and all the bag holders losing money now, there will be a lot more of these statements calling the whole thing a big gambling game and purely based on luck. it has been like years, as they gain money when price is going up everything is fine but as soon as a drop begins everything becomes either a big fat manipulation or pure luck.

RejectedBanana

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Life=One Giant Online Casino

Fundamental analysis and past performance indicate a high probability Life on Earth will continue to persist in one form or another for a while longer, but one sneaky asteroid and poof! There goes our species.

One might say risk is an inherent property of Life.

Now Death, on the other hand, Death is pretty risk-free.

So far as we know...

Make sure your loved ones have access to your stash, or poof! There goes that investment.

Kemarit

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Quote from: davis196 on June 01, 2018, 12:47:09 AM

Do you think the global cryptocurrency market is just like one giant worldwide online casino?
I have that feeling,when I trade on some crypto exchange platform.It`s like you are just "betting" on altcoin,token or BTC and hopping for the price to skyrocket.There`s no real investing involved,your money won`t create new jobs and lower the unemployment rate.The money goes from one trader to another.It`s a zero sum game.This is not a "win-win" situation.The sad thing is that Wall Street is the same type of "casino".
This makes the think that cryptocurrencies won`t change the world.
Nothing can change the "casino capitalism".

I wouldn't say that both of them are very similar, well of course its involves money, but at least in crypto trading, it involves not just luck but you have to understand that you needed some skills as well and its not betting per se like gambling wherein the chances of you winning are very slim. Crypto trading make people millionaires or billionaires and I doubt that we can say that about online casinos. It can definitely change the financial landscape of any nation, or even individual itself. You can see hundreds of thread about stories of certain individual who got involved in crypto had change their life for good, unlike in gambling wherein you will hear sad stories specially when they are suckered in and totally lost control of their life. I haven't seen anyone complaining about crypto investors loosing huge chunk of money and wasn't able to bounce back and stand up again.

bozo333

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Crypto market is totally different in online casino so we don't compare to Crypto market Vs online casino but you can bet Bitcoin or some altcoins because technology is developed in day by day so most of the online casinos accepting the Bitcoin. But all the investors are expecting the profit in Crypto investment that is same notice in online casino also but risk factor is different in both platform.

TheQuin

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Quote from: Pursuer on June 01, 2018, 01:02:42 AM

if you go to stocks market and see the names of each stock like XYZ, ABC,... and buy them randomly without knowing what company they belong to, what their potentials are, whether they are scams or not (like going to penny stocks market), .... and then lose money does that make Stocks Market a big online casino?

The reason that any comparison to a casino is flawed is that casinos provide games of chance. They are based on random numbers or random events. It's fair to compare financial markets to gambling, but it is is a game of skill. As you say researching the companies you're investing in and then backing your opinion with a bet on that company is not random. The same goes for investing in crypto, you'll improve your chances by doing research and backing the coins you believe will win.
Contrary to what many believe, even day trading is skill based. It's the knowledge and experience of what other traders will do in any given situation that gives the better players a better chance of coming out winners. That cannot be said of a roulette wheel.

mOgliE

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That's not exactly like a casino because contrarely to a casino you can get out whenever you want and wait for as long as you want!

When you buy BTC you see price going up and down up and down... And you can sell whenever you want.
That's like being on a roulette game, betting on the 34 and being able to wait for the ball to reach the number without paying it.
When you buy just wait. You know the price will go above.

Tankdestroyer

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Quote from: davis196 on June 01, 2018, 12:47:09 AM

Do you think the global cryptocurrency market is just like one giant worldwide online casino?

Those traders you refer to are not investing into the coins they buy randomly(at least some of them). They really see the potential for it to grow because of it's real world use cases that would surely be beneficial to the public once crypto becomes mainstream. Always remember that some potential altcoins out there also have their own company that creates new jobs as well.

eth9888

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Valid point but the truth is the whole financial market is one big casino anyway.
It's not that different really.

Topic: Crypto market=online casino (Read 262 times)