Do You Think Crypto Trading is Gambling?

Ludmilla_rose1995

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Quote from: shanz on August 08, 2024, 03:56:18 AM

In my opinion, the main similarity between gambling and crypto trading is that both involve speculation and assumptions. If you are lucky, you may double your portfolio; if you are not, you may lose your money. Basically, you are trying to predict what might happen in the future. Any trading is basically a bet on whether the crypto will go up or down Wink

As a crypto trader with years of experience, I always do deep research based on news, indicators and technical analysis. However, even after studying possible scenarios, the market sometimes moves in the opposite direction Grin

Let’s take the example of the recent Bitcoin drop, (almost) no one expected it, even the big channels… A small correction was expected. Well, some sudden political and economic news was the reason for all of that and crushed the traders’ morale that day… (Thank God the market is recovering now)
So, I personally think that this volatility makes crypto trading more like gambling where luck plays a key role, right? Huh

with good analysis and also in-depth experience in crypto trading, then you will definitely avoid gambling under the guise of trading in crypto, it is not easy to analyze price changes in crypto, so there are quite a lot of people who say that crypto trading is gambling, but don't be mistaken because usually those who say that crypto trading is gambling are those who are lazy in updating their knowledge in trading.

uche6215

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The fact of the matter is that crypto trading is the same thing as gambling the only difference there is that they have modernized crypto trading because just as you listen out that both crypto trading and gambling uses money which can eventually be lost in the process

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Quote from: gabbie2010 on September 24, 2024, 03:20:53 PM

Quote from: Hatchy on August 08, 2024, 06:10:51 AM

Yea, in a way they both have similarities which is predictions. We make predictions for gambling and also for trading the financial markets. But then gambling is different, we aren't quite sure of its possible outcomes which are based on luck and experience. Trading deals with analysis and if one understand how to read the market structures and patterns, you will be able to predict the market correctly and catch some good trades. In all, they both require you deposit some funds to get more or increase your portfolio. But there is still a lot of difference between both of them.

You absolutely correct on why trading has better probabilities of predicting the market accurately in most occasion better than gambling, though losses are inevitable, however with indepth knowledge of Price Action, break of market structure, price sweeping liquidity etc knowledge of ICT concepts, honestly those concepts would enable a crypto trader earn decent profits compared to a gambler whose outcome is 50:50 in most cases and possibly an upset in some bets which has some high probability of winning unfortunately ended up as a loss, personally I would rather pick trade crypto ahead of gambling after acquiring all the necessary knowledge.

No matter how technical you are in trading itvis impossible for youvto know the next price movement of bitcoin because you are predicting the future and this is where gambling comes in play when you make decisions and the market goes against you. Gambling can big in profit irrespective if you are a beginner or not but the chance of that happening is limited. However, trading will be profitable if you have your own unique strategy on how to go about your trade, but you can be a professional trader unlike gambling that is luck based and no one can be a professional gambler because it is not a skill

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Quote from: Hatchy on August 08, 2024, 06:10:51 AM

Yea, in a way they both have similarities which is predictions. We make predictions for gambling and also for trading the financial markets. But then gambling is different, we aren't quite sure of its possible outcomes which are based on luck and experience. Trading deals with analysis and if one understand how to read the market structures and patterns, you will be able to predict the market correctly and catch some good trades. In all, they both require you deposit some funds to get more or increase your portfolio. But there is still a lot of difference between both of them.

You absolutely correct on why trading has better probabilities of predicting the market accurately in most occasion better than gambling, though losses are inevitable, however with indepth knowledge of Price Action, break of market structure, price sweeping liquidity etc knowledge of ICT concepts, honestly those concepts would enable a crypto trader earn decent profits compared to a gambler whose outcome is 50:50 in most cases and possibly an upset in some bets which has some high probability of winning unfortunately ended up as a loss, personally I would rather pick trade crypto ahead of gambling after acquiring all the necessary knowledge.

Oilacris

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Quote from: Ultegra134 on August 09, 2024, 03:42:40 PM

Quote from: GigaBit on August 09, 2024, 02:29:01 PM

If we analyze gambling and crypto trading with a deeper view, we can see that gambling and trading are almost the same. We know crypto trading is risky because it is so volatile that at any time a trader can lose his wealth. Sometimes a trader gets overly greedy and invests in something that may later withdraw from the market or lose value due to scamming. We have seen many investors go nuts after the 2021 bull run in crypto. Those who invested in crypto. Especially those who invested in projects like FTX or Luna. The same is true in gambling where a gambler can lose his wealth and win there at any time. Considering these factors, if we compare crypto trading with gambling, there is no possibility of a big mistake.

Both share a few similarities, but you cannot claim they're identical. Acquiring cryptocurrencies is seen as an investment, but you cannot call gambling an investment; you're not obtaining anything in return, nor can it yield returns in the future. Sometimes we claim that trading is a gamble because they share some similar principles, such as luck and analysis, which exist in both options but aren't always accurate. Thus, I don't think we should compare the two or claim that trading is a form of gambling.

There would rally be that significant differences among the two and this is something which is really be that important to be distinguished by a certain individual on the moment or time
that they would really be trying out to engage neither gambling or trading. We do know that entertainment thing is totally differs into those things which are really that intended for investment
or something that you could be able to achieve such potential profits with having that less risk than gambling. Although it wont be giving out that guarantee to make profits but at least you do
really know on what you are really that dealing into. There would really be those people who do end up on doing gambling into their trading just because they are really expecting too much.

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Quote from: wheelz1200 on August 11, 2024, 04:07:03 PM

Quote from: Dr.Bitcoin_Strange on August 11, 2024, 03:59:01 PM

Quote from: Dickiy on August 09, 2024, 05:14:17 AM

Quote from: Dr.Bitcoin_Strange on August 09, 2024, 04:59:22 AM

Well, yea, they both have the similarity of speculation but trading have some tool that a trader can use to identify the market trend and know the direction of the market before they can enter the position, trading is not majorly dependent on luck but it requires a good skill but gambling requires luck.

can be said the same but not similar. the simple difference is a beginner gambler can easily play bets and win the game with luck. unlike beginner traders there is no luck to get profit in trading they must prioritize the approach, and skills other things beginner traders need a long process to continue to get profit.

It might sound funny but I think anyone that feels they want to have fun in trading and try their luck can actually handle trading as gambling but gambling can not be handled as trading because they are both different things. The fact that two things might just have one slight similarity doesn't make it the same thing. I know that there's a big gap between those two and one common similarity is that the both can generate profit but one requires more of skill and not luck.

I disagree. Crypto trading needs an insane amount of luck just like with gambling. Now if you are going to buy and hold bitcoin I don't think that falls in this category but if you are day trading coins even large cap coins it's definitely gambling. It's not like stocks where you have earnings, profit, etc it's trying to guess which coin will have more demand than there is supply purely based on popularity at the time. Technical analysis only goes so far and should only be for long term traders. In the short term I don't think there is anything that can predict the market.

@wheelz1200, I wouldn't argue that luck is exempted from trading, but I have my reasons to disagree with you that trading is not the same as gambling, and trading is not also basically dependent on luck, just like gambling is. It is not a fight, but based on our individual experience and understanding of something, we can disagree with each other.

Had it been that I am not a trader or a gamblers too, I wouldn't have to argue here, but gambling and trading are what I have had experience with. I remember when I was still practicing how to trade, I never had any single knowledge about trading. I would just stare at the candle and price chart in confusion, and at that time I would see the price of my selected pair running up and down. Lost in thought, I wouldn't know what to do, but I would just set my trading amount and click to buy or sell. I lost so much money then, compared to after I later gained proper knowledge about trading. I cannot even compare my trading skills and success now to years ago when I just started.

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Quote from: Dr.Bitcoin_Strange on August 11, 2024, 03:59:01 PM

Quote from: Dickiy on August 09, 2024, 05:14:17 AM

Quote from: Dr.Bitcoin_Strange on August 09, 2024, 04:59:22 AM

Well, yea, they both have the similarity of speculation but trading have some tool that a trader can use to identify the market trend and know the direction of the market before they can enter the position, trading is not majorly dependent on luck but it requires a good skill but gambling requires luck.

can be said the same but not similar. the simple difference is a beginner gambler can easily play bets and win the game with luck. unlike beginner traders there is no luck to get profit in trading they must prioritize the approach, and skills other things beginner traders need a long process to continue to get profit.

It might sound funny but I think anyone that feels they want to have fun in trading and try their luck can actually handle trading as gambling but gambling can not be handled as trading because they are both different things. The fact that two things might just have one slight similarity doesn't make it the same thing. I know that there's a big gap between those two and one common similarity is that the both can generate profit but one requires more of skill and not luck.

To some extent I have being followup with all the discussions that all the above quoted member have being making and for sure I can say that I have realized some vital truth about both term's cryptocurrency trading and cryptocurrency gambling, both have similar and same attributes such as loses which is the prevalent outcome of both activities, gambling is as much risky as trading, although what makes trading less risky as gambling is the fact that in trading at least if you are trading spot trading you have less risk because at some point you still hold your assets even when the price and market is down.

But unlike derivative trading, you may likely get liquidated as often as you get loses in gambling, so if we want to compare cryptocurrency trading and cryptocurrency gambling, we have to put the right form of trading in comperison to gambling because if we just make the comparison mentioning just trading it means a lot of members will mis understand thing's along the line.

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Quote from: shanz on August 08, 2024, 03:56:18 AM

In my opinion, the main similarity between gambling and crypto trading is that both involve speculation and assumptions. If you are lucky, you may double your portfolio; if you are not, you may lose your money. Basically, you are trying to predict what might happen in the future. Any trading is basically a bet on whether the crypto will go up or down Wink

As a crypto trader with years of experience, I always do deep research based on news, indicators and technical analysis. However, even after studying possible scenarios, the market sometimes moves in the opposite direction Grin

Let’s take the example of the recent Bitcoin drop, (almost) no one expected it, even the big channels… A small correction was expected. Well, some sudden political and economic news was the reason for all of that and crushed the traders’ morale that day… (Thank God the market is recovering now)
So, I personally think that this volatility makes crypto trading more like gambling where luck plays a key role, right? Huh

How is gambling a speculation? Maybe casino games since you can't tell what the computer will return to you but sport betting is not speculation, how can you even guess option to play in betting games when you don't want to go broke, you wouldn't just be broke, you will hate your self gambling in the first place. Sport gambling need your time and effort with skills else you will never make money, not even luck you are ever going to come across in sport betting.

If do copy trading, then you are gambling for good. You are dependent on another person idea which he can give you real analysis or fake analysis and if you put large sum of money on there, you may lose everything. So copy trading is nothing but upgraded version of gambling. Whatever works for you, accept, practice and use your time to enjoy it.

wheelz1200

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Quote from: Dr.Bitcoin_Strange on August 11, 2024, 03:59:01 PM

Quote from: Dickiy on August 09, 2024, 05:14:17 AM

Quote from: Dr.Bitcoin_Strange on August 09, 2024, 04:59:22 AM

Well, yea, they both have the similarity of speculation but trading have some tool that a trader can use to identify the market trend and know the direction of the market before they can enter the position, trading is not majorly dependent on luck but it requires a good skill but gambling requires luck.

can be said the same but not similar. the simple difference is a beginner gambler can easily play bets and win the game with luck. unlike beginner traders there is no luck to get profit in trading they must prioritize the approach, and skills other things beginner traders need a long process to continue to get profit.

It might sound funny but I think anyone that feels they want to have fun in trading and try their luck can actually handle trading as gambling but gambling can not be handled as trading because they are both different things. The fact that two things might just have one slight similarity doesn't make it the same thing. I know that there's a big gap between those two and one common similarity is that the both can generate profit but one requires more of skill and not luck.

I disagree. Crypto trading needs an insane amount of luck just like with gambling. Now if you are going to buy and hold bitcoin I don't think that falls in this category but if you are day trading coins even large cap coins it's definitely gambling. It's not like stocks where you have earnings, profit, etc it's trying to guess which coin will have more demand than there is supply purely based on popularity at the time. Technical analysis only goes so far and should only be for long term traders. In the short term I don't think there is anything that can predict the market.

Dr.Bitcoin_Strange

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Quote from: Dickiy on August 09, 2024, 05:14:17 AM

Quote from: Dr.Bitcoin_Strange on August 09, 2024, 04:59:22 AM

Well, yea, they both have the similarity of speculation but trading have some tool that a trader can use to identify the market trend and know the direction of the market before they can enter the position, trading is not majorly dependent on luck but it requires a good skill but gambling requires luck.

can be said the same but not similar. the simple difference is a beginner gambler can easily play bets and win the game with luck. unlike beginner traders there is no luck to get profit in trading they must prioritize the approach, and skills other things beginner traders need a long process to continue to get profit.

It might sound funny but I think anyone that feels they want to have fun in trading and try their luck can actually handle trading as gambling but gambling can not be handled as trading because they are both different things. The fact that two things might just have one slight similarity doesn't make it the same thing. I know that there's a big gap between those two and one common similarity is that the both can generate profit but one requires more of skill and not luck.

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Quote from: retreat on August 08, 2024, 11:16:00 AM

If someone is "gambling" in their trading, then it is not trading, but gambling as you said. Because basically what distinguishes gambling from trading is that when someone gambles, they tend to rely on their luck and usually it is done in a short time. While for trading, someone will use various instruments, strategies, and news, and then analyze them and use them to make a profit in the market.
So back to your topic, is crypto trading gambling? it depends on the person, whether he really has the mindset of a trader who uses strategy and analysis, or a gambler who only relies on luck. And also not all crypto is based on speculation, in memecoins it may be the case, but in popular crypto it may not be.

For me I would say that one of the reasons why people consider trading to have certain similarities with gambling is that there are a lot of emotional devastation that is attached to both senerio cases and the higher level of risk irrespective of the amount that is used, those who trade are always carried away by the act of monitoring the market conditions in order to maximize the opportunities of exiting point either in profits or loss because a lot of people panick and exit at loss or fall in to a scam project, and that's also how we gamble with games that we have don't have control of.

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Quote from: AYOBA on August 09, 2024, 04:17:55 PM

Yes off course both are the same for me the crypto trading and gambling there similar since both of them have the risks and both the crypto trading gambling are include of financial, but I think the trading is more better than gambling even in terms of losing because in crypto trading even though a person is losing they might a day that your gain can definitely come back to you.

How can we consider trading and gambling the same, if it is only based on the risk and involvement of money in it, then there are several other similar activities such as someone who sells food, they spend money for capital and if it doesn't sell then they risk losing capital, can this also be called the same as gambling.
Considering trading and gambling the same is an unreasonable assumption, moreover if in trading we can take precautions in terms of losses and really not lose all the money used, it is very different from gambling.

Quote

Gambling doesn’t have any thing like technics analysis and which is why he they very easily to fall in victim of losing in gambling.

This is also an inappropriate response in my opinion because in gambling there are several bets or games of skill that are still very important or require good analysis.

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No, not technically. Trading a financial instrument can be sort of considered gambling , in theory, but really it's nothing like actual gambling. There's a lot more skill involved when it comes to many gambling games, but nothing compared to legitamate technical trading where not only are you studying technical analysis, but often times fundamental analysis as well. So there's just a lot more involved when it comes to trading.

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If it is not based on research and some things such as technical analysis that professional traders always do then indeed I would consider it as gambling because they only use intuition and isnting as a benchmark in trading. The problem is that this kind of thing (relying on instinct) is a common thing especially for those beginners who do not really understand trading but want to try something like this which makes the situation worse even more than gambling.

Trading is a situation where you need to know exactly what to do before opening a position, but nowadays a lot of people don't care about that because they expect their instincts to do their job well and try to guess what will happen in the future and this method is not much different from gambling in the end.

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Quote from: Ultegra134 on August 09, 2024, 03:42:40 PM

Quote from: GigaBit on August 09, 2024, 02:29:01 PM

If we analyze gambling and crypto trading with a deeper view, we can see that gambling and trading are almost the same. We know crypto trading is risky because it is so volatile that at any time a trader can lose his wealth. Sometimes a trader gets overly greedy and invests in something that may later withdraw from the market or lose value due to scamming. We have seen many investors go nuts after the 2021 bull run in crypto. Those who invested in crypto. Especially those who invested in projects like FTX or Luna. The same is true in gambling where a gambler can lose his wealth and win there at any time. Considering these factors, if we compare crypto trading with gambling, there is no possibility of a big mistake.

Both share a few similarities, but you cannot claim they're identical. Acquiring cryptocurrencies is seen as an investment, but you cannot call gambling an investment; you're not obtaining anything in return, nor can it yield returns in the future. Sometimes we claim that trading is a gamble because they share some similar principles, such as luck and analysis, which exist in both options but aren't always accurate. Thus, I don't think we should compare the two or claim that trading is a form of gambling.

It is certainly closer to gambling than investing, but a prerequisite for trading being considered pure gambling is if somebody literally rolls the dice on something he or she has no clue about. If somebody does not follow any updates in technology or crypto in specific and yet tries to trade it back and forth for a gain, I guess it would and should be considered gambling.

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Quote from: Hispo on August 08, 2024, 06:51:19 PM

It is only gambling if one is messing around with future contracts and using unreasonable leverage for the sake of bigger returns. On the other hand, there are people who use exchanges in a more moderate way to predict the patterns of the market and take smaller profits without having to compromise their whole budget in a very slim period of time.
For example, of I notice there is a strong tendency for the price of Bitcoin to increase and the chances of it to continue to do so is high, then I buy in and wait for the price to continue to go up before selling (that would be after doing some analysis on the price graph), it would be different if I stepped into the future market and picked up the first shitcoin I saw and got all in using an exaggerate leverage, that would be gambling .

As I read the comments, I was sure that there would be a huge difference in opinions due to the gap between the two concepts, and on the basis that Forex trading and speculation are permissible according to official religious and legal legislation. Gambling is forbidden in all religions and laws and carries serious legal charges. I personally prefer the definition that says that trading in its original and conventional sense is far from gambling, but it may become so - in the opinion of some - if the trader decides to completely abandon following any of the strategies and refrain from analyzing the market, as in that case he relies on chance and luck to achieve profit.

Gambling is based on betting on probabilities and does not give its owner anything or any ownership, unlike speculation, which is basically a partnership based on owning a share in a company in exchange for a sum of money, meaning that companies/assets listed on the exchange open the door for investment and own shares in it in exchange for obtaining financing from investors, meaning that there is a mutual benefit, unlike gambling.

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Quote from: Su-asa on August 09, 2024, 11:58:08 AM

In gamble they call it strategy but in trading they call it analysis and this made them to have something similar in common but it's true that they are not the same because trading is mainly for those that seeks for the easiest ways to make quick money which is not that easy because of its crypto currency. And on gamble it's also something that's lose is always more that the luck, unless luck is involved in the round you played. On gamble there are games a gambler can predict and there are some which they can not predict and those games that they can not predict are purely luck that makes anyone to win from them but if we talk about trading all of them needs predictions and analysis altogether so that the trader can be able to get some profits from his/her trade.

There are few things in your post which are applicable to trading as well as gambling. For instance:

Quote from: Su-asa on August 09, 2024, 11:58:08 AM

In gamble they call it strategy but in trading they call it analysis

I would say, trading and gambling both have "strategies" and both "can" have some analysis involved depending on the type of betting involved. Example: Sports betting involves analysis.

Quote from: Su-asa on August 09, 2024, 11:58:08 AM

trading is mainly for those that seeks for the easiest ways to make quick money

I guess people prefer gambling more than trading to really make "quick and easy" money. It's another fact that they often lose in the process.

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Quote from: AYOBA on August 09, 2024, 04:17:55 PM

Yes off course both are the same for me the crypto trading and gambling there similar since both of them have the risks and both the crypto trading gambling are include of financial, but I think the trading is more better than gambling even in terms of losing because in crypto trading even though a person is losing they might a day that your gain can definitely come back to you.
-snip-

If you say the two are the same between gambling and trading, you have to explain that trading is not just using one method, but there is futures trading and spot trading, but you are here explaining that spot trading is the same as gambling.

Gambling with spot trading is different, because spot trading has an asset that you still hold and will still have value even if it fluctuates but won't disappear when the price drops.

You should explain that futures trading will be the same as gambling because it only guesses the price and if it is wrong it will be liquidated and lost like gambling.

AYOBA

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Yes off course both are the same for me the crypto trading and gambling there similar since both of them have the risks and both the crypto trading gambling are include of financial, but I think the trading is more better than gambling even in terms of losing because in crypto trading even though a person is losing they might a day that your gain can definitely come back to you.

But the problem with some peoples is that their lack of patience is deal with them that’s why there not making any profits in trading, and somes is like of knowledge that is make them lose their profits in trading; Gambling doesn’t have any thing like technics analysis and which is why he they very easily to fall in victim of losing in gambling.

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Quote from: GigaBit on August 09, 2024, 02:29:01 PM

If we analyze gambling and crypto trading with a deeper view, we can see that gambling and trading are almost the same. We know crypto trading is risky because it is so volatile that at any time a trader can lose his wealth. Sometimes a trader gets overly greedy and invests in something that may later withdraw from the market or lose value due to scamming. We have seen many investors go nuts after the 2021 bull run in crypto. Those who invested in crypto. Especially those who invested in projects like FTX or Luna. The same is true in gambling where a gambler can lose his wealth and win there at any time. Considering these factors, if we compare crypto trading with gambling, there is no possibility of a big mistake.

Both share a few similarities, but you cannot claim they're identical. Acquiring cryptocurrencies is seen as an investment, but you cannot call gambling an investment; you're not obtaining anything in return, nor can it yield returns in the future. Sometimes we claim that trading is a gamble because they share some similar principles, such as luck and analysis, which exist in both options but aren't always accurate. Thus, I don't think we should compare the two or claim that trading is a form of gambling.

Topic: Do You Think Crypto Trading is Gambling? (Read 845 times)