Topic: Is Crypto another form of gambling? - page 10. (Read 1520 times)

For sure. Especially considering that our community treats it like an asset and trade it to get money.

if there is a risk and profit opportunity that doesn't depend on you, then it's gambling.

Crypto literally has derivatives lol, it's the best sign that it got turned into gambling.

No it is not a form of gambling and to compare cryptocurrency to gambling is a very short-sided view (not surprising at all from some dim-witted "elite" from the UK).

The only similarity between cryptocurrency and gambling is risk. If you are day-trading cryptocurrency, you are participating in an activity that is as high-risk as gambling. The better you are, the less your actions are down to chance and the more you know your odds, therefore it is just a high risk action. If you don't know what you are doing, then you are gambling.

The same goes for buying and selling. If you don't know what you are doing, then you are gambling...as you do not know the risk : reward of your actions, you have not measured your potential for gains against losses, etc.

If you are someone who understands cryptocurrency, you understand market volatility, you use technical analysis to buy/sell when you can see overselling/overbuying, and fundamentally research to reason your trades and measure your odds....you aren't gambling. You are participating in an investment that is "risk-on" but you are not throwing your money down to chance.

TLDR:
Noob - puts money into cryptocurrency with no reason or research and leave success completely down to chance. - Yes, that's gambling.
Wise - does their due diligence, assesses/measures the risk/reward of their actions, reasons their actions before taking them.

Are we really creating laws to cater for noobs now? Are we really going to classify cryptocurrency as gambling because noobs won't better themselves?

Ridiculous.

a matter that is often debated between trading and gambling. I think this depends on each individual, with more traders who lose than those who survive, this can be explained logically. underlying the success of trading is psychology, in addition to money management and technical analysis. if we run everything well then we can make a portfolio according to plan, that's where the difference is, where real trading can be planned and targeted, while gambling cannot be planned long term, because it is based on luck alone

Life itself is risky. Everything is risky. You go outside, there is a certain risk that something bad will happen. Maybe you will get hit by a car, maybe you get robbed, maybe you break a bone. Unlikely, but the risk is still there.

So by that notion, should everything be considered gambling? I do not think so. Crypto also is not gambling. It could be used as a medium for gambling, like on crypto gambling casinos or trading on a crypto exchange. But intrinsically, its not gambling in itself, no.

But then again, some people consider stock trading as gambling. That does not mean that owning stocks means you gamble.

Well if you consider things things in crypto as gambling then there's nothing wrong about it since there's always a risk involve in this industry with it's volatility present, it makes everything risky. Maybe it only differs when it comes to actual gambling is that you couldn't rely on your luck and gut without having the knowledge you need in crypto. Like for example, in gambling for you to play and bet you must understand how the game works and it's rules before you can even start right? Same thing with crypto, you need to be familiarize first so you can understand that those risk can be lessen if you have more information such as techniques and experiences.

If you accept crypto currencies as a form of gambling then all other similar invesment products such as stocks, gold, silver and even Pokemon cards and CS:GO skins are gambling. You can make bets with crypto, that doesn't mean the currency itself is gambling. You can invest your money to clone altcoins, that doesn't mean whole crypto-currency ecosystem is gambling. I thought we were over this discussion years ago but it looks like some people still use it for their own agenda.

If it is said to be another form of gambling, of course it is not and is not related, but if you say that trading that relies on luck or just guessing up or down is like gambling because there is no analysis done.

To take risky actions is the nature of cryptocurrency, all investment platforms have their own level of risk.
For gambling, the risk of losing will be higher and it depends on luck, and some gambling systems are set up so that losses are more than wins.

Everyone's perspective may be different, but if you say crypto as another form of gambling I disagree.
Gambling is still gambling and crypto is an investment that has asset ownership for you to hold.

Technically whatever that doesn't bring a free flow of money or stable money when purchase and acquires it isn't what we should lay a total hope into, usually crypto sometimes in my own perspective I sense to be as gambling why?

The possibility of you venturing into and making profit are classified to be 50 50 because you don't know what it may yield for you or not, likewise if others invested they make lose as well. Same as gamble, why let say there are some selected games and you never can tell what the result and outcome of selected matches would play out to be but what you know is that there must be a winning within the both parties that involved in match or game.

Somehow looking deep down, you may think cryptocurrency aren't the way we sees it but technically they acts accordingly as they both involves losing one's money due to the volatility level and people are really conscious of losing their hard earn money in a twinkle of an eye. However its far from what they sees it so I don't think it should be classified as gambling.

Cryptocurrency doesn't entirely lost your money rather the value would slight change in percentage respect to what currency is reflecting on your balance, cryptocurrency gives you the chance to still have your asset back whenever the market dip you can only be patient while it bounces  backs to it previous price at this point you might decides to sell or still hold them with you but what matters most is that you don't entirely lost your funds unlike gambling were you lost everything without remainder of any.
analytically you may got it twisted if the both scenario are not clearly explained to you, overly people sees it as gambling, so it was to me then with little insight about whole concept.

People who do not know about cryptocurrencies often associate it directly with gambling when it is entirely different from the latter.

Cryptocurrencies are like your traditional investment on the market, such as: stocks, gold, real estate, etc. They have a definite value in the market in which people are willing to pay for. Due to its high volatility, its price rapidly changes in the market in which some take it both as a boon and a bane at the same time.

Gambling, on the other hand, is a physical activity where you risk your chosen/desired currency in a game of chance/odds. While investing is a gamble in itself, it cannot be said that gambling equates investing.

No! As for me, crypto is seen as an asset, especially Bitcoin, because it is something valuable. When you invest in Bitcoin, for example, it can only lose value, but you will never lose the Bitcoin you may  have because 1btc will always forever be 1btc, So with that Bitcoin can only lose value, but you never lose that Bitcoin itself. Gambling is just to bet or stake on something valuable, and when you lose, you have lost everything you staked on it.so it have zero power of hope. In gambling, if someone bets on something and it loses, they lose it all forever, but in crypto someone can only lose value of what it may be holding but not what is have.and gamble is seen as gamble and crypto is seen as crypto and each have different purpose it serving.

they only see it from one point of view and don't really know how Crypto works. maybe what they highlight is how people trade crypto. without them knowing there is complete control over the assets traded by a trader. while gambling will only bring them 50;50. when they start betting and everything will be irreversible.
I think there should be an expert who explains to them before the draft regulations will be discussed. it was highly unlikely that such a large country would not have truly skilled people. not a person with speculation.

I do not think so with their statement that said crypto currency is a form of gambling, at least not at all. How crypto is viewed depends on how it is used. If bitcoin is literally do for gambling or betting, then their their statement they are true. However, if bitcoin is only used as a payment method or even as just a side incone to get additional income from signature campaigns, then crypto currency is not gambling at all because there is no any gambling elements there.

It is very strange that some politician calls cryptocurrencies gambling, since bitcoin for example is something known all over the world as a currency and has use as a currency, people use bitcoin to buy goods and services, so they are confusing bitcoin with some game of chance is very absurd, in the game of chance people put money in everything or nothing, they are relying on luck, with bitcoin people when they use it for investment purposes then they do technical and fundamental analysis of the market and buy, but they don't run a big risk of losing everything, that's because bitcoin won't drop to zero so it doesn't make any sense to make that kind of comparisons

even if we look at altcoins that many of them are pump and dump schemes, it would still not be fair to compare altcoins with gambling, because altcoins are also used to buy goods and services, for example a person can take their altcoin and deposit it in a casino and playing, that's because this altcoin is equal to money, it has a value, but gambling as the name already says is a game in which people put money and play, win or lose, I think the difference between gambling and cryptocurrencies is a very big difference in terms of the function of each thing

I'll be specific, investing in Bitcoin is not a form of gambling, the same goes with Ethereum, LTC, and other cryptocurrency that has a huge community or user base.  But investing in Meme coins, NFT projects and other unestablished cryptocurrencies may consider gambling because the risk involved is too high and the possibility of profit is too random.  There is no fundamental to study and even the TA is unapplicable.  The market movement of these unstable new projects is too random to know or make sure that a profit can be obtained.  Just like gambling, investing in these shitcoins is more likely make us loss our money.

Well if you take a look at that second definition, you would agree with me that it pretty much agrees with virtually any form of an investment with a profit an lose probability.

Having that at the end of our minds, it won't feel so right to use it for a subjecting condition on cryptos as a gambled commodity.
They could as well find the best means to suit there regulations but, regulations doesn't suit in with cryptocurrencies.
Exchange perhaps but, that's just as far as they should go, that's the third party spot in crypto as business between parties being p2p don't give much room for regulations.

Of course, no. Gambling in general relies purely on luck. On the other hand, risking money in crypto is manageable and it's not that we only have to rely on good luck here. If you consider crypto as an investment, therefore, treat it as any other investment where you have to do your best how to manage it properly.

In the usual gambling, there are luck-based games and strategy-based games. The terms itself should give us a clearer view already about gambling in general especially the luck-based games. Strategy-based games, on the other hand, require skill but still need a bit of luck to win.

In crypto, although the market is too volatile and unpredictable, making profits here depends on the right timing of our actions. We are basically not relying on luck here since regardless of the trend, whether bullish or bearish, there's a possible profit we can achieve. And honestly, with just a simple holding, the profit is always possible - a basic and simple thing to do but effective to most.

NO!!!
especially bitcoin can never be considered gambling because we know what we are investing in and we believe with time and patience we won't lose. However, those who gamble with money I can say those who invest in shitcoins which can be trash at any time where are gambling is what you don't even know how it will end is either you lose and earn profit.


I believe you are misinterpreting cryptocurrency. How can investing in cryptocurrency turn into gambling when you understand where your money is going and how the market works? However, if you are going to be patient and put your money there, you will undoubtedly make money and get your money back with profit. So I think If you're saying that cryptocurrency is also gambling, I think you're mistaken.

I think it will depend on what the city is doing in the crypto business. if we only do trading or various businesses in crypto without doing proper research and strategic planning then it can be a gambling activity really like gambling. moreover, if we trade in futures or leverage, this will really be gambling for beginners, especially. because usually they don't really understand how to trade according to their abilities, while they do it without learning first, just following trends or other people's trading activities.

The crypto investment will never be a form of gambling if we have knowledge about what we are investing with.  Since we know the condition of the market, know the movement of the market and know the people behind the crypto project, we can assess a risk management to enable us to mitigate risk.

Investing in crypto only becomes gambling if a person is putting his money in an investment blindly, doesn't have knowledge about his investment, and just goes with the flow of the hype. 

Or simply the extent of how much they know about it. Most of non-crypto investors view cryptocurrencies as a currency with a volatile market value; a hybrid asset. Decentralization is indeed another thing as its characteristic but since we are talking about crypto as an investment, risk would be the underlying factor as we all know.Those people who only invested in this industry without putting an effort on learning its nature and complexity are the ones we may call gamblers of this blockchain. They simply invested on the tendency of having returns and not to this technology itself. From that, they only grabbed the profitable aspect of it and not its usage and purpose, I believe.