if you focus on the price of bitcoin, you are gambling

shintosai

hero member

Activity: 756

Merit: 500

Quote from: shanem on September 25, 2016, 08:23:52 AM

Quote from: talkbitcoin on September 25, 2016, 08:16:43 AM

i think your wording of your comment in OP could be a lot better. for example you could have said if you are expecting bitcoin price to go to the moon and make you become rich then you are gambling.

but it is not true that if you are watching the price or investing in bitcoin and think it can go up in reasonable amounts you are gambling.

No matter what OP is focusing on the price or tech for bitcoin, it is considered gambling as you are taking a risk to bet that the value of bitcoin will rise. To me, you are gambling when you buy a stock, a foreign currency or invest in anything. However, you can increase your chance of winning if you research before buying.

thats the advantage knowing the possibility of your position can say that you are just helping the stock to grow and be ripe after that harvest will come and earnings for you is for sure so its not gambling its pure investment that waiting for your commission in return just for my opinion though.

shanem

legendary

Activity: 1344

Merit: 1000

Quote from: talkbitcoin on September 25, 2016, 08:16:43 AM

i think your wording of your comment in OP could be a lot better. for example you could have said if you are expecting bitcoin price to go to the moon and make you become rich then you are gambling.

but it is not true that if you are watching the price or investing in bitcoin and think it can go up in reasonable amounts you are gambling.

No matter what OP is focusing on the price or tech for bitcoin, it is considered gambling as you are taking a risk to bet that the value of bitcoin will rise. To me, you are gambling when you buy a stock, a foreign currency or invest in anything. However, you can increase your chance of winning if you research before buying.

talkbitcoin

legendary

Activity: 1372

Merit: 1032

All I know is that I know nothing.

i think your wording of your comment in OP could be a lot better. for example you could have said if you are expecting bitcoin price to go to the moon and make you become rich then you are gambling.

but it is not true that if you are watching the price or investing in bitcoin and think it can go up in reasonable amounts you are gambling.

hua_hui

legendary

Activity: 1386

Merit: 1016

it is always good to know more. So monitoring on the price of btc is also a good thing. Similarly, even if we need to use btc for transaction, we also need to focus on the price of bitcoin to buy more or less.

Red-Apple

hero member

Activity: 1470

Merit: 655

Quote from: Omegasun on September 25, 2016, 04:22:49 AM

Quote from: absy on September 25, 2016, 03:46:27 AM

Quote from: girlbtc.com on September 23, 2016, 01:28:16 AM

if you focus on the price of bitcoin, you are gambling. calculate how much USDs you have in hand while you have bitcions in your wallet.

if you focus on the tech of bitcoin ,and hold bitcoin without exchange for more than half a year. then you are playing bitcoin.

that's right?

I would name it trading . Gambling is something where luck matters and I don't think price of the bitcoin involves luck , its purely depends on the market ( People buying and selling ) so If you are holding bitcoins and you are focusing on the price of it , its more of trading .

But depending on people buy and sell involved luck, because you didn't know when other people will sell/buy their bitcoin. And if your unlucky, you might be loss if someone dumps after you buy your btc. Trading is actually gambling too if you look it in other perspective. Wink

the fact that you can't make sure when to buy or when to sell which is also known as speculating or analyzing the market doesn't make trade gambling but it makes it gambling only for you.

there are a lot of signs that you can follow to see what really is going on and yes there is always a chance of losing money and be wrong about your analysis but that is only because you can not predict unpredictable incidents like the bitfinex hack which caused a downfall. but you can use these too. for example in that particular situation you could have sold fast before the bigger drop and bought 100$ lower than the current price.

so you see it is not at all like gambling.

BitMaxz

legendary

Activity: 3374

Merit: 3095

Playbet.io - Crypto Casino and Sportsbook

Quote from: Omegasun on September 25, 2016, 04:22:49 AM

Quote from: absy on September 25, 2016, 03:46:27 AM

Quote from: girlbtc.com on September 23, 2016, 01:28:16 AM

if you focus on the price of bitcoin, you are gambling. calculate how much USDs you have in hand while you have bitcions in your wallet.

if you focus on the tech of bitcoin ,and hold bitcoin without exchange for more than half a year. then you are playing bitcoin.

that's right?

I would name it trading . Gambling is something where luck matters and I don't think price of the bitcoin involves luck , its purely depends on the market ( People buying and selling ) so If you are holding bitcoins and you are focusing on the price of it , its more of trading .

But depending on people buy and sell involved luck, because you didn't know when other people will sell/buy their bitcoin. And if your unlucky, you might be loss if someone dumps after you buy your btc. Trading is actually gambling too if you look it in other perspective. Wink

Honestly not totally lose because you can be still holding your bitcoins for a long time and sell them in the right time to have a good profit.. people are losing in waiting for the price increase they cant wait for price increase back if the price is decrease in the present price..

its not for luck base you this is depends in your analysis and the price of bitcoin is depends in demand and supply.

Herbert2020

legendary

Activity: 1946

Merit: 1137

Quote from: girlbtc.com on September 23, 2016, 01:28:16 AM

if you focus on the price of bitcoin, you are gambling. calculate how much USDs you have in hand while you have bitcions in your wallet.
if you focus on the tech of bitcoin ,and hold bitcoin without exchange for more than half a year. then you are playing bitcoin.
that's right?

Quote from: girlbtc.com on September 24, 2016, 06:34:47 AM

playing means just focus on bitcoin and it's tech. and enjoy the logic of it
gamble and investment mean you care ,you lose or win .

this doesn't make any sense!
i think you are one of those people who thinks trading bitcoin (looking at the price) is like gambling. but it is not. it is an investment and if you do it as a daily investor/trader then you are taking more risks and if you have the knowledge you can use the chances to make money : there is no gambling risk and win or lose here.

and you playing bitcoin doesn't make any sense either, if you use bitcoin then it is like fiat (USD) for you so if you are playing USD then you are playing bitcoin too.

Omegasun

hero member

Activity: 742

Merit: 500

Quote from: absy on September 25, 2016, 03:46:27 AM

Quote from: girlbtc.com on September 23, 2016, 01:28:16 AM

if you focus on the price of bitcoin, you are gambling. calculate how much USDs you have in hand while you have bitcions in your wallet.

if you focus on the tech of bitcoin ,and hold bitcoin without exchange for more than half a year. then you are playing bitcoin.

that's right?

I would name it trading . Gambling is something where luck matters and I don't think price of the bitcoin involves luck , its purely depends on the market ( People buying and selling ) so If you are holding bitcoins and you are focusing on the price of it , its more of trading .

But depending on people buy and sell involved luck, because you didn't know when other people will sell/buy their bitcoin. And if your unlucky, you might be loss if someone dumps after you buy your btc. Trading is actually gambling too if you look it in other perspective. Wink

absy

legendary

Activity: 1414

Merit: 1008

★Bitvest.io★ Play Plinko or Invest!

Quote from: girlbtc.com on September 23, 2016, 01:28:16 AM

if you focus on the price of bitcoin, you are gambling. calculate how much USDs you have in hand while you have bitcions in your wallet.

if you focus on the tech of bitcoin ,and hold bitcoin without exchange for more than half a year. then you are playing bitcoin.

that's right?

I would name it trading . Gambling is something where luck matters and I don't think price of the bitcoin involves luck , its purely depends on the market ( People buying and selling ) so If you are holding bitcoins and you are focusing on the price of it , its more of trading .

dunfida

legendary

Activity: 3122

Merit: 1140

Quote from: Xenophoto on September 25, 2016, 12:32:50 AM

I don't think so. To gamble means to risk your coins. Looking at the charts and checking it frequently doesn't put your coins at risk. I don't see the connection of your idea with gambling. That's basically just waiting for the best time to sell your coins. It's technically called trading. If you missed selling at a high price, your Bitcoin would still be the same. If you have 1 BTC, you'd still have 1 BTC. Just wait for another time to sell your coins.

Agree, the word gambling means you are risking your money to get money but in OP's situation hes just waiting for the right time to buy bitcoin therefore its not gambling at all since all you do is wait but i would recommend that its better to risk your money at these days rather than waiting because you wont gain profit on just waiting.Price movements are unpredictable.

girlbtc.com

sr. member

Activity: 252

Merit: 250

girlbtc.com

Quote from: xuan87 on September 25, 2016, 01:05:31 AM

well i disagree, if i focus on the selling price and buying price its mean I am focusing on trading, not gambling and only by focusing but i dont do any action regarding to the coin its mean i am saving or i am investing, if my act cant cause my coin to decrease or increase then it cant be consider as gambling

uhmm...

xuan87

legendary

Activity: 1666

Merit: 1001

well i disagree, if i focus on the selling price and buying price its mean I am focusing on trading, not gambling and only by focusing but i dont do any action regarding to the coin its mean i am saving or i am investing, if my act cant cause my coin to decrease or increase then it cant be consider as gambling

Xenophoto

hero member

Activity: 826

Merit: 502

I don't think so. To gamble means to risk your coins. Looking at the charts and checking it frequently doesn't put your coins at risk. I don't see the connection of your idea with gambling. That's basically just waiting for the best time to sell your coins. It's technically called trading. If you missed selling at a high price, your Bitcoin would still be the same. If you have 1 BTC, you'd still have 1 BTC. Just wait for another time to sell your coins.

Capradina

hero member

Activity: 756

Merit: 520

Yeah it's something very true friend. But this will not actually detrimental to those that did get free way bitcoin, because it is one of the bitcoin gambling. but such innocuous bitcoin with gambling in General, this is only a similarity however does not have the same system

girlbtc.com

sr. member

Activity: 252

Merit: 250

girlbtc.com

playing means just focus on bitcoin and it's tech. and enjoy the logic of it

gamble and investment mean you care ,you lose or win .

victoryboy

hero member

Activity: 728

Merit: 500

I understand very well your point of view but investing in any market including Bitcoin is also doing gamble. There is no guarantee how the market will react in coming days or weeks. It might be possible to see your holdings remaining same or loosing value. You need a base thing to give value to anything. Bitcoin is measured on dollar so everyone has own ways of dealing with these things.

hatshepsut93

legendary

Activity: 3024

Merit: 2148

Quote from: girlbtc.com on September 23, 2016, 01:28:16 AM

if you focus on the price of bitcoin, you are gambling. calculate how much USDs you have in hand while you have bitcions in your wallet.

if you focus on the tech of bitcoin ,and hold bitcoin without exchange for more than half a year. then you are playing bitcoin.

that's right?

The difference between gambling and investment is the first being pure random, while the second is based on reasoning and investor's skill and experience play a major role in his success.

DeathAngel

legendary

Activity: 3304

Merit: 1617

#1 VIP Crypto Casino

I absolutely focus on the price of bitcoin, I am invested in it so obviously I'll check the price very often.

smho_16

sr. member

Activity: 420

Merit: 250

You are not gambling with bitcoin if you hold it in your wallet for 6 months and then exchange it. More it's you are investing through bitcoin, you are thinking of it as a mean of investment as you maybe thinking it will raise in value in the longer run.

Investment is a bit like gambling as in every investment you risk to lose all of your capital but in this case it's always a good idea to wait and hold bitcoin unless you are seeing a big spike you want to take profit out of it.

It's similar to gambling but is not gambling.

Fraxinus

legendary

Activity: 1274

Merit: 1000

I agree that you shouldn't always be driven by the price and actually value the benefits of BTC and the possibilities it gives everyone.Actually a large part of the people are in BTC because they see the benefits for payment it provides

Topic: if you focus on the price of bitcoin, you are gambling (Read 701 times)