Is Crypto another form of gambling? - page 12.

sunsilk

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Quote from: EarnOnVictor on June 09, 2023, 10:17:15 AM

Now, do you agree that crypto should be seen as a form of gambling?

There's nothing gonna change if we agree or not with what they think of crypto as a form of gambling. They are even calling stocks as a way of betting and so, there's not a lot of difference from what they're labeling it.

Quote from: EarnOnVictor on June 09, 2023, 10:17:15 AM

And if this eventually comes through, what should we expect as the constraints it might still bring to the crypto space?

Nothing really.

It will just gonna be thought as another risky thing to get involved with. And those that understands it like us, we won't care a lot with what these media or anyone calling it as a form of gambling.

Oshosondy

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Quote from: EarnOnVictor on June 09, 2023, 10:17:15 AM

1. Play games of chance for money; bet.
2. Take risky action in the hope of a desired result.

The second one seems to fit crypto best, so it's clear they know what they are saying.

Now, do you agree that crypto should be seen as a form of gambling? And if this eventually comes through, what should we expect as the constraints it might still bring to the crypto space?

Bitcoin is not gambling, only what it requires is speculation, but some people do not learn about bitcoin price history and speculation but they just want to invest, more especially during bull run when they fomo.

Most altcoins are gambling.

If you need proof that bitcoin is not gambling, I can give you detailed analysis about it as it seems more to be a store of value over long term period.

Hyphen(-)

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Quote from: EarnOnVictor on June 09, 2023, 10:17:15 AM

Now, do you agree that crypto should be seen as a form of gambling? And if this eventually comes through, what should we expect as the constraints it might still bring to the crypto space?

No!
This can only be applicable to altcoins because, in my opinion, all altcoin investors are gambling with the hope of making a large profit due to uncertainty because they do not know what will happen to the project at any given time.

However, Bitcoin investment is distinct because we all understand how transparent the entire Bitcoin process is; therefore, we are not gambling with our money since we are confident that if we are patient, we will be rewarded.

KiaKia

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Crypto is not slots or roulette, where the entire idea is based on luck, this makes it different from gambling, Bitcoin as an example is a digital currency and a good store of value, now trading comes along and it is the only thing that's close to gambling in crypto, you bet on upside or downside of the market movement, if you are right, you win, if not, you lose.

Bitcoin is volatile, and this whole gambling idea is pointing to the upside and downside of the volatility, does this makes it a gambling?

EarnOnVictor

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Leading Crypto Sports Betting & Casino Platform

I was kinda surprised when I read the news from Financial Times that the cross-section of the UK's MPs that seems to see it as needless to regulate cryptocurrency suggested that it should be viewed as "a form of gambling" and be regulated as such.

Without relying on my own understanding of "gambling," I quickly used the help of the Oxford Dictionary through Google, and it states;

1. Play games of chance for money; bet.
2. Take risky action in the hope of a desired result.

The second one seems to fit crypto best, so it's clear they know what they are saying.

Now, do you agree that crypto should be seen as a form of gambling? And if this eventually comes through, what should we expect as the constraints it might still bring to the crypto space?

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