Topic: Trading has become too much akin to gambling. Let's embrace it - page 2. (Read 1247 times)

I'll keep on saying this, trading is a skill and gambling is not but most people think they are the same because they always focus on flipping on their trading account. Experienced traders go into the Market with leverage and try to make sure that they make more Profit than losses by following the rule of risk management.. Trading especially in crypto currency can be make you or break you, it takes understanding to understand the market and come up with a strategy that works.. gambling is mostly based on luck and instincts nothing more nothing less.

If I could get correctly to what he is trying to suggest or buy is that the risk factors are not considered because if they do the level of loss people are experiencing today in gambling could have been reduced, usually the same terminology are used and are likely the same as ( trade with the amount you can afford to lose, gamble with the amount you can afford to loose, do not allocation all monthly salary to trading, same is also used for gambling) therefore, we can consider both to have same risk level and, infact gambling is much more riskier than trading because gambling is a total lost while trading there is every tendency the coin would dump and later rise again.

I think I would add that infrastructure besides advancement in chips efficiency is worth mentioning here as it becomes more attainable every day and you can see the industry growing in Africa. As these panels become cheaper and more abundant, the implementation of those channels to fuel regional energy demands becomes more practical and any excess energy can be pointed at BTC mining. The advancements in technology make it more likely that BTC hash rate will be maintained if not increased.

Well, what really intrigues me all the time is how they got to train him on which lever to pull to either buy or sell...well again, if this a gamble as you claim, what are the odds that this rodent, by their virtue of accurate selection, decide on which lever to pull? I haven't seen a video about it so, the more I try to conform this into reality, the more stupid it looks to me.

I'll keep on saying this, trading is a skill and gambling is not but most people think they are the same because they always focus on flipping on their trading account. Experienced traders go into the Market with leverage and try to make sure that they make more Profit than losses by following the rule of risk management.. Trading especially in crypto currency can be make you or break you, it takes understanding to understand the market and come up with a strategy that works.. gambling is mostly based on luck and instincts nothing more nothing less.

Anyway, I think more casinos should follow the path of what Rollbit has been doing with its virtual futures and offer gambling services based on the BTC price. There could be several advantages. No KYC, no regulatory restrictions as imposed on traditional markers, unlimited leverage... You name it.
Maybe even there could be some algorithmic memecoin releases. Maybe you're one of the lucky ones that get 10x or one of the unlucky ones that get rugged.

Would you gamble on casino games that are based around the real fluctuations of BTC's price?

I'll keep on saying this, trading is a skill and gambling is not but most people think they are the same because they always focus on flipping on their trading account. Experienced traders go into the Market with leverage and try to make sure that they make more Profit than losses by following the rule of risk management.. Trading especially in crypto currency can be make you or break you, it takes understanding to understand the market and come up with a strategy that works.. gambling is mostly based on luck and instincts nothing more nothing less.

I'll keep on saying this, trading is a skill and gambling is not but most people think they are the same because they always focus on flipping on their trading account. Experienced traders go into the Market with leverage and try to make sure that they make more Profit than losses by following the rule of risk management.. Trading especially in crypto currency can be make you or break you, it takes understanding to understand the market and come up with a strategy that works.. gambling is mostly based on luck and instincts nothing more nothing less.

I don`t think that it would be a good decision. BTC in the casino is just a type of money, like USD. Using it in games like an instrument of the game - is strange enough as for me. It looks like trading and in casino i don`t want to trade, even if i use BTC as money. Cryptocurrency exchanges has their specific instruments for trading, they analyze the price every second. Common casino can`t give all opportunities of the exchange to the gambler. As the result it would be some disappointed gamblers, some problems with gamblers. Let`s use instruments for the purposes they were created for.

Would you gamble on casino games that are based around the real fluctuations of BTC's price?

Simple example:
https://www.bbc.com/news/technology-58707641
When a hamster manages to make money from trading crypto, one can't keep saying it's about knowledge and not luck!

I'm assuming everyone here already knows how volatile crypto markets are and how much of a risk it is to trade there. I'm not going to delve deep on that topic because I consider it a given already. However I'm getting a sense that in spite of the great demand to make risky trades on crypto, casinos tend to ignore it too much.

I remember a few years ago binary options on BTC/USD were quite popular.
These days billions of USD are put towards leveraged futures, and now with markets opening futures and options on Bitcoin ETFs, institutional investors will also have access to very risky positions on BTC right from their broker.

However, these markets have several restrictions. On most brokers you can't get margined leverage above 5x and/or many territories don't even allow for brokers to offer options to the general public. Let alone the fact that people from many countries aren't even allowed to sign up to crypto exchanges because of arbitrary reasons like for example Israel pressuring Binance to close the accounts of people just for being Arab.

Anyway, I think more casinos should follow the path of what Rollbit has been doing with its virtual futures and offer gambling services based on the BTC price. There could be several advantages. No KYC, no regulatory restrictions as imposed on traditional markers, unlimited leverage... You name it.
Maybe even there could be some algorithmic memecoin releases. Maybe you're one of the lucky ones that get 10x or one of the unlucky ones that get rugged.

Would you gamble on casino games that are based around the real fluctuations of BTC's price?

In theory!
In practice, it never actually happened, and it's pretty hard for it to happen this way.
First, it's hard for the hashrate to drop because of the advancement in chips efficiency, so 3 miners might quit but one might replace his asics and there you go, same hashrate, then there is the delay between the orders and actual receiving the miners, people order when it's profitable, 3 months pass, you get the gear you have nothing to do but mine!

Ethereum Classic was successfully 51% attacked more than 4 times, the coin is still alive, so.....traders might not focus on the security aspects of a coin!  

Simple example:
https://www.bbc.com/news/technology-58707641
When a hamster manages to make money from trading crypto, one can't keep saying it's about knowledge and not luck!

Actually when I talked about the relation between the hash rate and the price of Bitcoin I wanted to transmit there are some cases in which a high or low hash rate can also influence the price, due to the security of a decentralized network being a driving factor to the price of it... For example, of the hash rate of the Bitcoin main network started to go down and down, that would be translated in a deficiency of security against attacks to it, is that correct?

So some traders would feel prompted to exit their positions in exchanges to deter risks of the coins losing value.

Could you atleast make some specificities to this, Stompix?

I'm assuming everyone here already knows how volatile crypto markets are and how much of a risk it is to trade there. I'm not going to delve deep on that topic because I consider it a given already. However I'm getting a sense that in spite of the great demand to make risky trades on crypto, casinos tend to ignore it too much.

I remember a few years ago binary options on BTC/USD were quite popular.
These days billions of USD are put towards leveraged futures, and now with markets opening futures and options on Bitcoin ETFs, institutional investors will also have access to very risky positions on BTC right from their broker.

However, these markets have several restrictions. On most brokers you can't get margined leverage above 5x and/or many territories don't even allow for brokers to offer options to the general public. Let alone the fact that people from many countries aren't even allowed to sign up to crypto exchanges because of arbitrary reasons like for example Israel pressuring Binance to close the accounts of people just for being Arab.

Anyway, I think more casinos should follow the path of what Rollbit has been doing with its virtual futures and offer gambling services based on the BTC price. There could be several advantages. No KYC, no regulatory restrictions as imposed on traditional markers, unlimited leverage... You name it.
Maybe even there could be some algorithmic memecoin releases. Maybe you're one of the lucky ones that get 10x or one of the unlucky ones that get rugged.

Would you gamble on casino games that are based around the real fluctuations of BTC's price?

Yes. Even though there are also decentralized services but I think many casinos now still don't ask a KYC, or don't mandate it compared to the trading exchanges. It can be because gambling is mostly created for fun purposes while trading exchanges are the ones who are primarily built for money / money making purposes. Each platform has its own set of rules apart from KYC and some of it may be awkward to us if ever we interchange one activity (Example, trade on a casino, or vice versa).

.
Anyway, I think more casinos should follow the path of what Rollbit has been doing with its virtual futures and offer gambling services based on the BTC price. There could be several advantages. No KYC, no regulatory restrictions as imposed on traditional markers, unlimited leverage... You name it.
Maybe even there could be some algorithmic memecoin releases. Maybe you're one of the lucky ones that get 10x or one of the unlucky ones that get rugged.

Would you gamble on casino games that are based around the real fluctuations of BTC's price?

Trading cryptos is gambling, it's just the ego of traders that denies it.