Just replace the word "gambling" with "very risky" to see whether they are correct. Gambling and very risky are basically thesame thing. Gambling would mean that the risk of failure is very high But this doesn't seem to be the case for Bitcoin which has been operating smoothly for over 10years with very little human intervention. I wonder what government regulated system can boast of that. Besides, I haven't read much about people losing their Bitcoin due to the failure of the network/system which has never been regulated by any government. I also haven't read of anyone losing all his/her Bitcoin assets due to price fluctuations. The risk is minimal even for the newbies and almost little to zero for those who have mastered it.
So, True Cryptocurrency like Bitcoin is actually way safer than what they currently regulate. I wonder what will become of things they regulate if they become "unregulated" like Bitcoin
Topic: Kraken, UK trade body derides lawmaker description of crypto as ‘gambling’ - page 2. (Read 167 times)
May 18, 2023, 12:53:18 PM
May 18, 2023, 12:12:10 PM
Read it completely on the link, or read the quote
https://blockchair.com/news/kraken-uk-trade-body-derides-lawmaker-description-of-crypto-as-gambling--dcfaa70466
Crypto is not gambling, we all know that. But crypto can be seen as gambling for some people that do not understand much about them because crypto gives more hope than gambling.
Bitcoin is a commodity, most altcoins like ether are securities. Why can lawmakers think that crypto are like gambling. Are the lawmakers right about this?
I am very sad if I see crypto in the same as gambling, but I have its own interpretation of this and become some parts according to my reasoning, Crypto can be considered gambling if we play in the Future or Binari Option trading which basically uses the price Come without them having coins in his wallet, of course it is a gambling.https://blockchair.com/news/kraken-uk-trade-body-derides-lawmaker-description-of-crypto-as-gambling--dcfaa70466
Self-regulatory organization CryptoUK and crypto exchange Kraken have slammed a recent report from a panel of British lawmakers that suggested crypto should be regulated in a similar vein to gambling.
Crypto is not gambling, we all know that. But crypto can be seen as gambling for some people that do not understand much about them because crypto gives more hope than gambling.
Bitcoin is a commodity, most altcoins like ether are securities. Why can lawmakers think that crypto are like gambling. Are the lawmakers right about this?
But if the user trading with him has an amount in his wallet either in Dex or CEX or usual when with spot trading, there is absolutely no element of gambling because the user has coins or tokens to be sold. And this is the same as stock trading in general. If they consider Crypto to be gambling, so sahampun.
MP members must really learn and read more references so they can distinguish between gambling and which trade.
May 18, 2023, 12:01:37 PM
Not all crptocurrency, but altcoins. Bitcoin can't be classified into this group of coins that are similar to gambling. That is why when government is talking about crptocurrency, they should exclude bitcoin. Bitcoin can never be compared to gambling because it will generate profit in the long run for investors. Which gambling is the opposite.
Lawmakers can say whatever they want to say about cryptocurrency as this is not the first time that they are saying such. It is not everything that people say about bitcoin that we should listen to because we have more knowledge on bitcoin and believe on it than them. This is another way of spreading the FUD
Lawmakers can say whatever they want to say about cryptocurrency as this is not the first time that they are saying such. It is not everything that people say about bitcoin that we should listen to because we have more knowledge on bitcoin and believe on it than them. This is another way of spreading the FUD
May 18, 2023, 11:26:43 AM
Some may take this negatively but there's some truth to what they claim since a super majority of cryptocurrencies really have little to no intrinsic value so "investing" in them may be considered as gambling. If you say it's not then just take a look at those frogs inserted on the blockchain. I personally think putting money on those types of crypto is like buying a lottery ticket. Of course there are a few with actual utility but the problem is how will regulators separate them from the rest when they make legislative proposals.
May 18, 2023, 10:04:15 AM
They've taken an approach such as not or not involving expert members, easily dismissed the important fact that cryptocurrencies are functionally backed by technology with the paltry assumption "they 're at risk of volatility". But I'm curious more about how profitable the country's gambling industry is in terms of state revenue. Their indifference to taking the wrong approach sometimes leads to something bigger that's not yet known such as a policy "game" in favor of officials.
May 18, 2023, 10:02:22 AM
Read it completely on the link, or read the quote
https://blockchair.com/news/kraken-uk-trade-body-derides-lawmaker-description-of-crypto-as-gambling--dcfaa70466
Crypto is not gambling, we all know that. But crypto can be seen as gambling for some people that do not understand much about them because crypto gives more hope than gambling.
Bitcoin is a commodity, most altcoins like ether are securities. Why can lawmakers think that crypto are like gambling. Are the lawmakers right about this?
https://blockchair.com/news/kraken-uk-trade-body-derides-lawmaker-description-of-crypto-as-gambling--dcfaa70466
Self-regulatory organization CryptoUK and crypto exchange Kraken have slammed a recent report from a panel of British lawmakers that suggested crypto should be regulated in a similar vein to gambling.
Crypto is not gambling, we all know that. But crypto can be seen as gambling for some people that do not understand much about them because crypto gives more hope than gambling.
Bitcoin is a commodity, most altcoins like ether are securities. Why can lawmakers think that crypto are like gambling. Are the lawmakers right about this?
They drop that perspective since maybe they look crypto as investment which have high risk to lose their money if they don't know what they are doing on it. If UK government could just look at its other usage like for using it on online transaction and innovative technology maybe they will not say that then say crypto is another form of currency. For now we cannot do anything why they think that way but for sure im future once adoption became more bigger maybe their perspective towards crypto became positive.
May 18, 2023, 09:17:57 AM
Crypto is not gambling, we all know that. But crypto can be seen as gambling for some people that do not understand much about them because crypto gives more hope than gambling.
If you look into the society today, you will discover manner of names people call cryptocurrency to be because they have no idea on what's the meaning not to talk of the understanding of what it gives or have foe to offer to the financial economy at large, though alot has happe before this time as many have been scammed through various online platforms and channels, which makes then assume this same experience with cryptocurrency.
Bitcoin is a commodity, most altcoins like ether are securities. Why can lawmakers think that crypto are like gambling. Are the lawmakers right about this?
Being a lawmaker doesn't make any difference from the general opinions others are having about bitcoin, that's just a title to me, this same approach is what other governments are having as well making them not to adopt bitcoin in cryptocurrency as a legal tender.
May 18, 2023, 06:49:10 AM
I also hear that in the news yesterday. This is the kind of public view that bitcoin is being labelled by the government and the people in charge of banks to make discredit of cryptocurrency. In the news I hear they also making example of the recent price drop of bitcoin from $31,000 to $26,000 making the meaning that people are losing the money they have and making the justification for it to be gambling. This should not surprise anyone because not the first that bitcoin is criticized but lack of understanding of the bitcoin technology is can be the problem. They don't understand it to be a virtual currency and asset that is traded but they only know gold, silver, fiat and all regulated commodity.
May 18, 2023, 06:20:20 AM
Read it completely on the link, or read the quote
https://blockchair.com/news/kraken-uk-trade-body-derides-lawmaker-description-of-crypto-as-gambling--dcfaa70466
Crypto is not gambling, we all know that. But crypto can be seen as gambling for some people that do not understand much about them because crypto gives more hope than gambling.
Bitcoin is a commodity, most altcoins like ether are securities. Why can lawmakers think that crypto are like gambling. Are the lawmakers right about this?
https://blockchair.com/news/kraken-uk-trade-body-derides-lawmaker-description-of-crypto-as-gambling--dcfaa70466
Self-regulatory organization CryptoUK and crypto exchange Kraken have slammed a recent report from a panel of British lawmakers that suggested crypto should be regulated in a similar vein to gambling.
Crypto is not gambling, we all know that. But crypto can be seen as gambling for some people that do not understand much about them because crypto gives more hope than gambling.
Bitcoin is a commodity, most altcoins like ether are securities. Why can lawmakers think that crypto are like gambling. Are the lawmakers right about this?
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