For me, Bitcoin is just a financial Game. - page 6.

avp2306

sr. member

Activity: 1022

Merit: 363

Quote from: balotelli on June 25, 2024, 04:50:33 AM

Firstly, despite Bitcoin's distinctiveness and its own complexity compared to other financial forms like fiat currency, gold, etc., its essence remains "money."
Secondly, the price volatility of Bitcoin is highly enticing; it constantly alters our psychology, which is why I refer to Bitcoin as a financial game.

Be mindful: if it's a game, there are rules to follow, risks involved, and winners and losers. Before you engage, research investment strategies, media influence, key influencers, benefits, risks, etc. Take charge of the game; don't let it control you.

Well whatever you call it its fine as long as you don't spread negativity on bitcoin. Also its depends on what bitcoin you think can do for you since if you aim to invest with it then its financial gain since you aim to get profit with bitcoin and that's really fine since lots of people aiming to acquire great profits from their long time investment with bitcoin.

That's why for beginner investors they should not see bitcoin as easy way out of poverty since there's a lot of thing need to learn or consider before they can earn with it. Also it needs long time experience, research and everything you want to consider before you see a best result from this coin. You have good points in your points and people should be mindful or attentive so that there would be no possible flaws we made then possible to earn with currently what we do on our bitcoins.

Iranus

hero member

Activity: 1792

Merit: 534

Leading Crypto Sports Betting & Casino Platform

Quote from: peter0425 on June 27, 2024, 12:08:47 AM

Quote from: balotelli on June 25, 2024, 04:50:33 AM

Secondly, the price volatility of Bitcoin is highly enticing; it constantly alters our psychology, which is why I refer to Bitcoin as a financial game.

I do understand your point but calling it a game might drive new investors away or even give off the general public the wrong idea.

Bitcoin is not a child's game. It is not a toy or something to play with but there are definitely rules out here that if you are not aware of, you might come out as a loser in the end.

He said financial games are not children's games, have you seen any children participating in financial games? I think there is a huge difference when it comes to casual games and financial games, and it is not difficult to distinguish.

Even though what OP said sounds harsh, what he said isn't wrong. Once we engage in investment and it can bring us profit or lose us money, it is called a financial game and bitcoin is no exception.

The idea of creating bitcoin was to be a peer-to-peer currency, Satoshi did not create it with the intention of turning it into an investment. But we turned it into an investment to make a profit from it, so it cannot be denied that it is a financial game.

Ishicryptic

member

Activity: 196

Merit: 90

Quote from: Psalms23 on June 25, 2024, 09:40:53 AM

Okay, Bitcoin is unique and complex, but at its core, it's still money like cash or gold. Its wild price swings are super exciting and constantly mess with our heads. That's why I think of Bitcoin as a financial game—it's always changing, always surprising.

In this concept Bitcoin can be viewed as a game because of it's dynamics and unpredictable price movements, it can be said that it plays a game of uncertainties with our minds. Like analysts that are predicting Bitcoin price to reach $100k in this year, but it is all speculations because we don't know when it will happen, all we can do is hodl and wait without a definite timeframe. Although we cannot compare Bitcoin game to that of gambling where it is luck that determines the outcome, with Bitcoin we know that despite that it is volatile, it's history has shown that it will always reach new ATH price, the only puzzle is when will the ATH happen, and that is where the game is.

NotATether

legendary

Activity: 1568

Merit: 6660

bitcoincleanup.com / bitmixlist.org

Quote from: serjent05 on June 25, 2024, 12:12:47 PM

Quote from: alexeyneu on June 25, 2024, 11:53:03 AM

and it's finally time to lose for all these investors. Never mind how long they will wait now

It looks like this current Bitcoin dip greatly affected you. Don't worry Bitcoin has a great ability to recover. Players of this game won't let the game crash and die since this is the best source of money for them. Someone will eventually pull the trigger for Bitcoin to start rallying just like the previous bull runs that break ATH and record new highs.

This isn't even the largest dip we've seen recently!

We've seen much worse dips in the last 4 years, like the Luna crash that took BTC form 50k to 30k, the FTX bankruptcy that put BTC at all-time lows, the panic the Feds made after they tried to scare everyone from using crypto, etcetera. And then you have people trying to "get you out of there" because the price is going down, I mean, come on.

In this industry, nobody wants you to win.

peter0425

sr. member

Activity: 2618

Merit: 439

Quote from: balotelli on June 25, 2024, 04:50:33 AM

Secondly, the price volatility of Bitcoin is highly enticing; it constantly alters our psychology, which is why I refer to Bitcoin as a financial game.

I do understand your point but calling it a game might drive new investors away or even give off the general public the wrong idea.

Bitcoin is not a child's game. It is not a toy or something to play with but there are definitely rules out here that if you are not aware of, you might come out as a loser in the end.

uneng

hero member

Activity: 2044

Merit: 784

Leading Crypto Sports Betting & Casino Platform

Quote from: balotelli on June 25, 2024, 04:50:33 AM

Be mindful: if it's a game, there are rules to follow, risks involved, and winners and losers. Before you engage, research investment strategies, media influence, key influencers, benefits, risks, etc. Take charge of the game; don't let it control you.

Just like any other financial games, Bitcoin doesn't come with an instruction manual stating everything you have to do and when to do in order to be successful with this kind of investment. Therefore, even though you can learn a lot with early and veteran investors, you still have to learn part of the process by yourself, through your own personal experience, which can involve mistakes along the journey.

At same time you have to be in charge of your game, you must be also aware that you aren't that powerful and decisive on this game on the bigger picture. Whales who speculate and manipulate the market are. As consequence, rules plus risks change in real time, based on the actions of those big players. Everyone else are just small fishes trying to take advantage of the whales' movements in the ocean, so they can also make profit side by side, and consider themselves part of the winners' team!

dezoel

legendary

Activity: 2044

Merit: 1075

Leading Crypto Sports Betting & Casino Platform

From what I have learned and understood about the crypto market so far, I have formed a theory that the crypto market is not at all for those who want to get rich overnight or make very quick profits. Cryptocurrencies are not for them at all because the crypto market is always very volatile and now the market is very high and sometimes the market is very low. They will panic and sell their coins or those who buy coins from low enough and can't sell even after the market goes up in the temptation that the market will go up more and make more profit in this way.

They lose all their profit, so the crypto market, especially Bitcoin trading can only be done by people who understand the market very well and have all the information about bitcoin. I see BTC as a long-term investment project. I think that after a few years, the money invested in Bitcoin will give me a profit that no other cryptocurrency, business, or gold can give me. Because the main reason for this is that the investment I made in Bitcoin a few years ago, I am getting so much profit from it that if I had started any other business, I would not have got that much profit.

lixer

hero member

Activity: 2688

Merit: 588

Quote from: DiMarxist on June 25, 2024, 10:09:08 AM

In playing game you lose whether you have luck or not because it is not possible foe one to win a game at all time. But in bitcoin if are patient enough to wait for the long term investment then you won't lose and instead you win. And all you need to do in the investment of bitcoin is patient. And the risk only comes when you can't wait to see the new bull run or All Time High and sell your coins along the line. The risk is there foe impatient investors and not for the well knowledgeable investors.
I don't like comparing bitcoin investment with game or gambling. Though life itself is a gamble but the context used are different.

We can lose 'sometimes' and win 'sometimes'. That is the one that you should say, but of course, the game must also be fair because there is no way we can win if it isn't. In a BTC HODL'ing game, there must be two types of losses here, and that is one is temporary and the other is permanent. It was only a temporary loss is the one that we can experience if we are patient enough to HODL for the worst times and then wait for the best times to sell our coins.

It's okay if you don't want to compare BTC to a game. We can just let others do it. Maybe this can help them to become more better at it? And also we have this thread here as addition to other BTC topics to talked about with.

Bravut

member

Activity: 224

Merit: 42

OP, I don't understand your view saying Bitcoin Volatility is enticing which alters our psychology, No. I believe you speak for yourself. Bitcoiners are not concerned with her Volatility rather the value and price of Bitcoin of which I could say most investor find it difficult to cope without compromising there Bitcoin portfolio, the financial market itself is a game centre where all asset bargained for are games....
I believe you're using "Game" as illustrative situation where Bitcoiners and investors need to understand the rules governing the game (Bitcoin Market) and ensure they win at last and not get defeated because of lack of knowledge, plans, excessive risk, indiscipline,.

PrivacyG

hero member

Activity: 882

Merit: 1873

Crypto Swap Exchange

Quote from: Darker45 on June 25, 2024, 11:52:35 PM

In the first place, Bitcoin itself isn't volatile. It's the fiat value that is attached to Bitcoin that is volatile. Bitcoin isn't its price.

So the value of Dollar has decreased by thousands of percent in a decade? It is not Bitcoin being volatile but Fiat? Every time a ginormous Bitcoin drop happened it was just Fiat gaining back value? If there is a big Currency out of the two, it is Fiat. Not Bitcoin. More over, Bitcoin is changing its price the same way simultaneously for all Fiat pairs including the strongest AND the weakest Currencies it is paired to. This makes Bitcoin volatile, not Fiat.

BALIK

copper member

Activity: 2254

Merit: 608

🍓 BALIK Never DM First

If we talk about the investment and speculation aspect, the entire financial industry is a financial game, even gold not just bitcoin, where people will find ways to take each other's money, and that is the nature of finance.

So, there is nothing wrong with you considering bitcoin as just a financial game because there are many people doing the same thing, many are just here to make profits and will leave later. But that doesn't mean bitcoin isn't used in many other cases, many countries and companies...have legalized bitcoin and are using it as a payment method and currency like El Salvador for example. Or if you are active on the forum regularly, you can also see many people applying bitcoin to their business, many people consider bitcoin a safe haven asset...many people use bitcoin in their lives more than you think.

alexeyneu

member

Activity: 351

Merit: 37

Quote from: OgNasty on June 26, 2024, 02:17:02 AM

to each their own.

On Wikipedia, an inline citation is generally a citation in a page's text placed by any method that allows the reader to associate a given bit of material with specific reliable source(s) that support it

Plaguedeath

hero member

Activity: 854

Merit: 663

If you treat Bitcoin is a financial game, then any assets is actually a financial game too.

There are times Bitcoin rise higher than other assets, there are times other asset rise when Bitcoin dump, there are times other asset perform better than Bitcoin in terms of price.

The game is, predict the peak and bottom of all assets in the future, so you can win the game by buy at the bottom and sell at the peak.

OgNasty

donator

Activity: 4760

Merit: 4323

Leading Crypto Sports Betting & Casino Platform

Game Theory is real. Didn’t Michael Saylor just refer to Bitcoin as a game where whoever gets the most wins? While I don’t advise anyone to live their life this way, there is certainly no shortage of people who view their net worth as their score for the game of life. I think you should probably take your finances more seriously, but to each their own.

davis196

hero member

Activity: 3150

Merit: 937

Quote from: balotelli on June 25, 2024, 04:50:33 AM

Firstly, despite Bitcoin's distinctiveness and its own complexity compared to other financial forms like fiat currency, gold, etc., its essence remains "money."
Secondly, the price volatility of Bitcoin is highly enticing; it constantly alters our psychology, which is why I refer to Bitcoin as a financial game.

Be mindful: if it's a game, there are rules to follow, risks involved, and winners and losers. Before you engage, research investment strategies, media influence, key influencers, benefits, risks, etc. Take charge of the game; don't let it control you.

Everything in life is a game(or maybe life is a game). You have to follow the rules, have a strategy/plan in place, constantly improve your skills, find partners, use different tips and tricks, etc. Trading on the financial markets is no different than any other activity.
I don't think that Bitcoin's price volatility "alters our psychology". You just get used to it after a while. When I was a crypto noob, I was always obsessed with the BTC price and I freaked out when there was a big price drop. Things are different now and I don't care that much about the price volatility of Bitcoin.

Darker45

legendary

Activity: 2576

Merit: 1860

This seems to be a case of downgrading Bitcoin. Bitcoin isn't a mere financial game. You may use that reference to Wall Street and their products and whatever they do there, but it probably isn't the case with Bitcoin. In the first place, Bitcoin itself isn't volatile. It's the fiat value that is attached to Bitcoin that is volatile. Bitcoin isn't its price.

If we talk of Bitcoin strictly, it's far from volatile. Its protocol isn't unpredictable. Its rules don't suddenly change every now and then. You may, however, use this reference to fiat.

PrivacyG

hero member

Activity: 882

Merit: 1873

Crypto Swap Exchange

I suppose you can treat many things in life from multiple perspectives. Bitcoin can be treated as Money, Investment, Pension Fund, Safe Haven, Decentralized Banking and many other ways. Each of us treats it how we wish after all. So if you want to treat it as a 'Financial Game', do so. Since Bitcoin has value, of course there will be influences, rules to follow et cetera. And the more value it has, the more influence will be attempted and thrown at.

What is most important is that you choose to treat it the best way it suits you. It can be even a multitude of what I described above. I use Bitcoin as Money just as much as I use it to have access to Decentralized Banking. But in my eyes it is also a Safe Haven one way or another and I see how it can be a Financial Game too.

If you choose it to be a Financial Game though. This means you probably care more about the value it brings to you than you care about Decentralization and Freedom it offers.

Felicity_Tide

full member

Activity: 168

Merit: 138

cout << "Bitcoin";

Quote from: balotelli on June 25, 2024, 04:50:33 AM

Firstly, despite Bitcoin's distinctiveness and its own complexity compared to other financial forms like fiat currency, gold, etc., its essence remains "money."
Secondly, the price volatility of Bitcoin is highly enticing; it constantly alters our psychology, which is why I refer to Bitcoin as a financial game.

Be mindful: if it's a game, there are rules to follow, risks involved, and winners and losers. Before you engage, research investment strategies, media influence, key influencers, benefits, risks, etc. Take charge of the game; don't let it control you.

It's quite interesting to see how you've been able to pass a vast information just with little lines. The entire game ideology makes this very interesting, just like the Jumanji game where you try to survive. Volatility leading to upward and downward price movements has a big say in who makes profit and who makes lose in regards to how the rules are been followed. Following the rules teaches you the basics to surviving and not incurring heavy losses from the market's volatility.

Jating

hero member

Activity: 2842

Merit: 772

Quote from: balotelli on June 25, 2024, 04:50:33 AM

Firstly, despite Bitcoin's distinctiveness and its own complexity compared to other financial forms like fiat currency, gold, etc., its essence remains "money."
Secondly, the price volatility of Bitcoin is highly enticing; it constantly alters our psychology, which is why I refer to Bitcoin as a financial game.

You can treat it that way, money, speculative asset like stocks, hedge against financial crisis, Store of Value, there are a lot of definition of Bitcoin, it just depends on how we look at it our how we going to used it.

Quote from: balotelli on June 25, 2024, 04:50:33 AM

Be mindful: if it's a game, there are rules to follow, risks involved, and winners and losers. Before you engage, research investment strategies, media influence, key influencers, benefits, risks, etc. Take charge of the game; don't let it control you.

Just to let you know though, that everything is life is a game, so in order to survived, you have to play and be smart. So like in Bitcoin market, it's complex as you have said and volatile, but if you know how to play the game and be that smart, take advantage of every situation given to you, like if the market goes down, then buy and accumulate, and then wait for it to go up and sell and make profits. Sounds very simple, but it takes mental toughness to go with it and win in the end.

m2017

legendary

Activity: 1792

Merit: 1296

Crypto Casino and Sportsbook

Quote from: balotelli on June 25, 2024, 04:50:33 AM

Firstly, despite Bitcoin's distinctiveness and its own complexity compared to other financial forms like fiat currency, gold, etc., its essence remains "money."

I completely disagree.

Before determining the status of an asset such as bitcoin, it is necessary to find out in what proportion this asset is used. I tend to think that bitcoin is used more as an investment tool rather than money. If anyone has statistical data, they can add this to my post. Personally, I can assume that an indicator of using bitcoin as an investment instrument is its high cost. That is, if used as money, supply and demand would be approximately equal, and bitcoin would not cost ~$60-70k. But due to the fact that demand exceeds (invested money), bitcoin becomes more expensive. Also, multi-million dollar investments from institutional investors are confirmation of my words. In other words, most of the bitcoin is hold as an investment and only a small part is used as money (how many shops and individual sellers accept it as a means of payment?). Based on this, I say that bitcoin is not money, but an investment asset.

Quote from: balotelli on June 25, 2024, 04:50:33 AM

Secondly, the price volatility of Bitcoin is highly enticing; it constantly alters our psychology, which is why I refer to Bitcoin as a financial game.

What is our life? - a game!

You have the right to call it whatever you want.

Some even compare investing in cryptocurrencies to gambling. Frankly, there is something similar in this.

Topic: For me, Bitcoin is just a financial Game. - page 6. (Read 1232 times)