Topic: Cryptocurrency and Gambling - page 4. (Read 882 times)

There is a misunderstanding among every cryptocurrency user. This happens mostly when they're new to the cryptomarket. Important reason behind this is the usage of cryptocurrencies on gambling.

During the early days, cryptocurrency is much used on gambling. Later slowly the usage got widened. This have created something among the people, that cryptocurrency is developed for gambling need. This is a big misunderstanding among people to talk cryptocurrency and gambling on the same scale.

You are right. Those people who think trading is gambling, surely don't understand what trading is. They also may not know well what crypto is. Most of these types of people are beginners, they only know how to make profits without understanding deeply what they are doing. At the end of the day, they must realize that trading or investing is different from gambling because trading and investing have a strategy to optimize the chance for profits. Those people need more experience to understand trading, to know more about crypto deeply as well.

As far as I can see, this confusion is coming mainly from traditional business because they simply don't understand cryptocurrency and feel it's like gambling with its extreme volatility. I have also met a lot of people who think crypto is gambling just as much as they say trading is gambling. It is very difficult to explain to someone who knows nothing about financial trading or investing, the real difference between investing and gambling. But they all have one thing in common here is that they all aim to make a profit.

You mean, when people trading cryptocurrency on an exchange without the knowledge of trading but still try to do it and end up losing it? There's a huge difference between gambling and investing but to most people they like to gamble it by trying to make profit despite of having a little knowledge about of trading. Investing in altcoins isn't reliable but it suited when you are diversifying between bitcoin and altcoins.

Even now many people still consider bitcoin and etc as a darkweb money. There is an idiom, "Damnant quod non intelligunt" and its mean "they blame what they dont understand". To many people are closeminded nowadays and they blame many thing without study on it or search about it. If you see someone like that just say you are right dude and walk away this is the best way save your energy

No need for a basic explanation. If people think that way then so be it. We should respect each other's point of view.

If they will engage in cryptocurrency for long, either gambling, trading, investing, holding, and so on, these people will soon realize that their thoughts at first about treating and considering crypto as gambling will still be their thought later on.

Let them understand the point by themselves.

^In fact, can be considered as gambling in cryptocurrency if you invested shit tokens, meme coins, and other forms of altcoins that are hyped of the pump and dump people and when you invested this it is also considered that you gamble your money. Crypto and gambling are far different if you know how to choose a potential one, you are not gambling in that way, you are investing in good potential coins like BTC and ETH which are those leading coins that we are surely gaining profit from.

Even life itself is gambling in the first place. However, there are some ways to lessen the risk and increase the chances to make profits. Like in cryptocurrency, if you invest in altcoins particularly in new projects, the chances of losing is high and chances of profiting is quite low so you have to consider thinking about that. But if you want to have greater chances to make profits, choose bitcoin. Although bitcoin is still a gambling investment, but you know that you could make a lot of money out of it simply by buying low and selling high, and being patient of course.

For one reason or another, most people still regard cryptocurrency as a gamble; it is either:

1. They have a friend who invested in some shitcoins and got their hard-earned money dumped .

2. They have received tainted information about cryptocurrency, which has cost them their investment in some altcoins.

3: they have seen a friend or been told of stories that got some investors' funds sucked up.

4. They have not really gotten to know that Bitcoin is the right coin to buy and hold for a long time.

5. Some shitcoin investments have fallen short of their lofty expectations.

Some other reasons apart from the ones I thought could have been the cause may have made them think crypto was a gamble.

But gambling and cryptocurrency have one thing in common, which is "uncertainty." But understanding the basics of Bitcoin and crypto investment before venturing into it is way better than taking it for a gamble and warding away one's money.

For example, Bitcoinners are expecting the next bull run by 2024, and no one is so certain that Bitcoin will be $100K (it could be more or less) by the next bull market. No one can predict the outcome or score of a gambling game unless by chance. It's not always 100%.


In life, people take a lot of significant risks to get potential results. So, that can be equated to life being a gamble, because gambling is a risky venture. You are not wrong for noting that life is a gamble.

Crypto is speculative while gambling depends on the games that you play and there goes the luck-based and analysis based. People do quickly realize chances and risks as a gamble.
And investing or owning crypto has that if your sole purpose is to make them as investments which all of us are treating like that. While for gambling, if you're just playing there, you can't consider it as an investment unless you invest in a bankroll of a casino.

Their is risk in crypto currency that's why it is being compared to gambling. But probably the major difference is that at least in the case of bitcoin, it has been proven that you can win big every 4 year cycle. For gamblers that might be good enough, it could be long term though, but still if you are looking to win then crypto might be a good option. As compare to gambling wherein it is based on pure luck, and the house always win paradigm.

Not only for cryptocurrency but the rest of investments are considered gambling as they don’t give guarantees when to make profits, or maybe not. However, with bitcoin or cryptocurrency, it’s a lot more proven from successful investors that buying and hodling it for long term will give us sure profits in the end. But the problem is, most of the investors are not for long term hodling but for quick profiting so they end up choosing altcoins for short term profiting. In the end, some made profits while some loses their funds.

And secondly, while gambling is a game of try your luck, whereby an individual can either win or lose, cryptocurrency on the other hand are centralized or decentralized digital currency used as a transactional means of payment, volatile in nature and has its own blockchains. So it Is only people withn less knowledge about Bitcoin will compare Bitcoin to gambling as they are both totally two different concept

The only parallels between cryptocurrency and gambling is that we do not know whether we will lose or win money on our investment. But we are completely leaving out the property of probability from the comparison.

The probability of you making $10000 Dollars out of a $1000 investment with cryptocurrency is much much higher than you making the same by gambling. The reason for this is because in the gambling casino world, the casino always has house edge and mathematically, cannot be the one losing money over an extended period of time. It just would not work.

We can all agree Bitcoin will definitely reach 100k (at least) during the next ATH. It might take years but that's already 5x profit with 99% certainty that you won't get from any casino.

People often compare certain markets to gambling when they disapprove of them, but strictly speaking, it's not correct. Gambling is a game of known and truly random probability. The market movements are not random, it's just that they can't be well predicted when the market is purely speculative. This is what makes crypto market look like gambling - you can't predict the outcome, just like with random chance, even though the outcome is not random. That's why investors like stocks, bonds and other traditional assets - you can predict their value with mathematical models.

Life is a Gamble 

Arithmetic and cryptography don't decide the price of a cryptocurrency, it's demand does! So no matter how technically advanced a cryptocurrency is, if there's no demand, there's no price!

Cryptocurrency is surely no gambling but it has some elements of gambling for sure. Like the uncertainty around it! Even stock market has some similar elements. None of them are pure gambling thought!

I see you unintentionally confused two things. Price speculation on crypto with crypto. Because crypto itself have nothing to do with gambling in oppose to crypto trading. Its the opposite of that because everything is coded and open source. So you know that there will be less than 21 mln bitcoins. You know each block is ~10 min. Fiats are more gamblish than crypto because you never know when supply will double or when someone will lock your money.

The fact about people thinking about cryptocurrency as gambling is because isn't a secure investment. If you buy $1000 worth on bitcoin today doesn't mean you will have profit in 1 year, even worst, you can be losing a huge piece of that cake, and that's why a lot of people compare the cryptocurrency with gambling.

Remember, high risk means you can win big or lose big in the process, as gamblers says, this is a go big or go home.

Anything is a gamble as long as there's a market for it.