Do You Think Crypto Trading is Gambling? - page 5.

Rockstarguy

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

So, I personally think that this volatility makes crypto trading more like gambling where luck plays a key role, right? Huh

Despite that the volatility of cryptocurrency can't speculated it doesn't make cryptocurrency trading to be the same with gambling. The market of cryptocurrency is volatile which traders either lose or gain but one thing with cryptocurrency is that profit is certain when a trader knows what he or she is doing. The reason why people lose so much in crypto trading is because they lack the knowledge of trading , the markets can be volatile but one still needs to be knowledgeable to make profit in cryptocurrency trading. Trading cam be risky but traders can reduce the risk of losing money in trading if they have good understanding about trading.

Gambling will always be unpredicted which can not be speculated and no amount of knowledge can make a gambler to stand the chance of winning gambling all the time. Their is a big difference with gambling and trading, trading can be considered to be a skill while gambling is a game of luck to win a game.

xLays

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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

There have probably been hundreds of discussions like this posted here on bitcointalk, discussing whether trading is gambling. I have only one answer to this, or rather, my opinion on what trading is: I do believe it is gambling, but not as extreme as literal gambling, where you can lose all your money in a single day. I consider trading gambling because trading and gambling have similar aspects, like the possibility of losing or winning money and yes like what you said sometimes involve luck.

crwth

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I don’t think so because it’s very different from investing in something and hoping that it will come up in price compared to basically luck In terms of what the results would be in the machine. It is definitely going to be a factor where It is better to crypto trade than gambling.

AlphaBoy

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Any trading for the non-professional is a gamble.
For the professionals it is a low-risk gamble.
For the whales, it is a way to make money.

Franctoshi

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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

Crypto trading isn’t gambling in the sense that you have some percentage of control over managing your trading than when compared with gambling, in gambling you don't have much control the monemt after which you have completely placed your bets. However, It usually seems Crypto trading is like gambling when you are not approaching the market the right way, hence the market have a way of dealing with people with gambling mindset, especially those people that wants to buy coin today and get rich tomorrow.

Pi-network314159

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Why people always insinuate that trading is gambling is because they have similarities. For instance in trading people buy low and sell high and make profit and sometimes they buy low or dip and it dip more which instead ofaking profit you loose more. Or you might buy some punp and dump scam shitcoin which after investment they will fall and may never go up again. In other words gamblers predict and stake game sometimes they win and also lose but they lose more due to greediness of not withdrawing their profit instead they left it there and continue playing.

Spaceman1000$

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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

Both trading and gambling involved a lot of permutation and risk involvement, but of different dimensions. Trading involves analyzing market trends and the possible direction to which the market might move to, most times you can even initiate a stop loss when the trade is not going towards the direction you've predicted, however gambling does not give you those ample opportunities to stop a loss or take profit as trading does, in gambling hence you predict a game and stake your money, you have to stay and waith for the outcome, except your lucky enough to see the cashout option which is not always available, so trading and gambling categorically have their own difference in approach but the same form of risk taken.

danherbias07

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If it's compared with sports betting I might agree but never with casino-based games.

Sports have records and history which means there are numbers that could be of great help to predict the outcome of the game. Trading has numbers too and you can use the market chart as a basis to predict where the candle might go.
But when it comes to slot games and other casino games, you are blind in this game. You don't have the numbers, records are there but that's just to show your bet history and it can never help you out in predicting what will happen next.
All of it is based on an algorithm, which we don't know how or when will give us something that is worth a profit.

Hatchy

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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.

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Trading will become a gamble if you don't know what you are doing like making a position no matter what the current price, situation, or market movement at all you just making hope that your position will agree in your faith, there's market volatility with the trading but we can lessen the risk if you understand with the basic concept of it includes the help of the technical analysis and indicators. In this like you are making gambling in trading if you make trade base on your emotions.

I guess you can move this topic to trading discussion not here in gambling.

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Such comparisons are not new topics. But the answers will still be the same. Gambling always implies luck first and foremost. A beginner who has not heard of gambling just yesterday can win a large sum. But is such luck possible in trading? Where it is necessary to have a strategy, it is unlikely to be successful without knowledge.

Kelward

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Crypto trading and gambling are both risky because you don't know whether you'll win/profit or lose your funds yet you go ahead to play or trade. But among the two, crypto trading is less risky than gambling because a trader's experience can help him to make informed decisions but a gambler is most times relying on luck to win. If you're a professional trader, you'll understands the market and it will help you to minimize loses but when you don't have any experience and dabbles into trading that means that you're no different from a gambler. So in this regard, crypto trading can not be said to be pure gambling, except the trader is a newbie that wants to gamble his funds in trading to get rich quick.

bubilas

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

So, I personally think that this volatility makes crypto trading more like gambling where luck plays a key role, right? Huh

Volatility in cryptocurrencies is good. It means that forecasts come true faster and the trader sees the results faster. And accordingly, if the outcome is successful, he gets Profit.

I don’t think that trading is similar to gambling, because trading is manageable, here we see the price limits, and based on this we adjust our actions, and this allows us to control our trading position. And in gambling, we don’t know any of the data. We just start from scratch, and it’s like being blind.

Solosanz

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Trading and gambling are different, even though both of them require luck, but trading is more possible to make money than gambling because the chance to win is 50/50. That's why gambling should be seen as a way to entertain instead of making money.

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

Any trading is basically a bet on whether the crypto will go up or down Wink

What you said is more like a binary option since in binary option you can make money by guessing the price will going up or down, not necessary you need to buy at the bottom and sell at the top.

Eternad

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They are completely different even on the speculation part. Traders is buying something in exchange for potential return while gambling provides only potential return due to pure luck without holding anything in return.

This has been discussed and compared many times and we can’t rule out the similarities just because they have they have a component of speculation but still the purpose of doing trading and gambling is different.

The only time trading is same with gambling when trading risk is already same with gambling such as high leverage trading.

passwordnow

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There's a similar thread already about this topic that was posted on the Trading Discussion. I think if this and that thread can be merged much better because there are a lot of good insights about trading is gambling.

Thread ~> Why I think trading is no different from Gambling!

Popkon6

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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

It is impossible to predict what is going to happen in the future, because exactly gambling is similar to such situations. Gambling is basically the future and the rest depends on the experience, but luck can change people. Gambling I have participated in many times in general. Although I have earned from gambling but when I entered new I lost more money. Whenever I gain experience from gambling my luck starts to change and I win but sometimes lose because luck is not in my favor.

So gambling is essentially luck experience and future uncertainty should be entered into gambling. But gambling experience is most in favor of those who want to increase their luck and future money several times.

Stepstowealth

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

So, I personally think that this volatility makes crypto trading more like gambling where luck plays a key role, right? Huh

In the literal sense, because you are trying to make money from trading, you are taking a risk, you are gambling. But when you consider gambling in the terms of casinos games and sports, then crypto trading is actually not gambling.
Crypto trading will seem like gambling when you are a new trader, just trying to trade the market with no deep market understanding. Depending on the game, a gambler can start gambling within a day of starting, but that is not the same with crypto trading where every trader must dedicate time to it before being able to be profitable. I am against the talk that crypto trading and gambling are the same.

Davidvictorson

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There are many forces that rule the cryptocurrency trading market. We cannot say the same for online gambling/gambling or the gambling industry in general. Rather what the gambling industry has are regulatory authorities. I think that people who argue that crypto trading is gambling are those who do not understand the market. That is, they buy when they are supposed to sell and they sell when they are supposed to buy. They typically do not understand the market forces at play. What will eventually happen which is inevitable is that they will lose their capital and to avoid taking responsibility, they will call crypto trading gambling. Gambling more or less involves betting on sports activities whose outcome cannot be determined by market forces.

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This remind me of that meme where in a job interview the HR asks the applicant to find differences between two pictures and the answer is they are the same despite being two different pictures.The same can be said here and despite these two things look like different in the end they are the same as in both you need to predict the future in order to make money.Trading can be considered a bit less dangerous as you need more time to lose the money and you can also set auto limits to end the losing prediction of a pair like EUR/USD for example.In gambling you can lose all in an instant.

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