Trading has become too much akin to gambling. Let's embrace it - page 4.

Hispo

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Quote from: serjent05 on December 05, 2024, 12:14:33 PM

Quote from: alani123 on December 03, 2024, 05:46:52 PM

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

... This is like a skill-based gambling where the insight and prediction skill of a person is tested.

There is no skill being tested in these gambling games in which the price of Bitcoin an other assets are supposed to be guessed in the very short time, because casinos use extremely large leverage, meaning that it only takes a little movement contrary to the prediction set by the gambler for all their wager to be pretty much gone and the session be over, there is no skill involved in that is just a coin toss and hoping for the best.
If one wished to actually try to trade with less risk and with a limite leverage then one is supposed to sign up to Binance or other actually reliable exchange services, when one has the power to adjust the level of risk one feels comfortable with.
Price prediction on casinos will be always considered to be gambling, when one compares them with the spot market for future markets with a reasonable level of leverage.

Still, being gambling it does not mean it cannot be fun to those who are seeking to have an extra injection of thrill and adrenaline while watching the price chart of bitcoin on live, while having a leveraged stake on it...

Aanuoluwatofunmi

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Trading is different form gambling and when we are doing the two together, we may have the chance of understanding them more better, when we trade, we are investing to make profits, when we are gambling, we are doing that to have fun, but when we mix the two altogether, it becomes akin to our body as we may not feel satisfied with what we are having.

Gambling is what everyone can easily do and has the right to engage freely without having to go through any required proceedings, because its all about being entertained, some will tell that gambling is more preferable to gambling while others the other way round, but our decision is mostly base on what we are good at.

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Quote from: bangjoe on December 06, 2024, 08:26:06 AM

-snip-
just convincing myself that I will get a victory in a particular coin and it's the same as gambling.

The important point is to understand all forms of trading in order to avoid gambling in trading if you want to avoid it, because there are many forms of trading with various kinds of mechanisms, so if you don't know then I think any assumption can be accepted.

People who trade without knowing the mechanism are just trying to guess the price and just like in binary trading, you are only given time to guess the price and risk your money and there is no chance to secure the position.

I prefer to do spot trading because I still hold the asset I bought even though the price is down and certainly has a chance to go up.

And understanding each type of trading is indeed necessary, as each trading platform has different rules.
Don't miss losing money on a trade that is almost similar to gambling, it will not be recoverable and only the losses you will get.

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Quote from: alani123 on December 03, 2024, 05:46:52 PM

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

Im currently addicted futures trading, well you said that "Trading has become too much akin to gambling. Let's embrace it" Im not gonna denied it because derivative product from the spot trading is little bit of gambling in my opinion.

If you take a look at the Option trading that you basically you put your money and just guess is the price gonna be up or down in a minute chart I just like pure gambling in my opinion. Now there are ton of product that offer leveraged trading because its profit, you get easy money but you can lose money easy too in the derivative product

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Quote from: tsaroz on December 03, 2024, 06:11:15 PM

Quote from: Oshosondy on December 03, 2024, 05:53:27 PM

Quote from: alani123 on December 03, 2024, 05:46:52 PM

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

Definitely some people will prefer to gamble on the price fluctuations of bitcoin price. I have also seen it on two other gambling site before.

But as for me, I will prefer no to do that. I will prefer to go for perpetual future trading which is what that I prefer and not actually gambling like the binary-option-like ones like betting on fluctuations of bitcoin price

Leveraged trading surely is a gambling of a kind. I created and was running 5 different leveraged grid and two of them were liquidated even in current sideways market. I know I was being greedy and looking for larger profit in shorter time but that's a general tendency. Leveraged trading just looks like a few steps more risky and more rewarding trading than spot trading but having that option makes trading more near to gambling. Even in the bullish market, I might end up with less crypto value than I was holding a few months ago.

The problem I have found with trading is that big money trade against small money in leverage trading especially when you are using a high leverage to trade ,you are screwed, the secret that differentiate gambling from trading is the ability to lock in your profits while the trading is running.
Spot trading is just the best, buy and hold ,have patient because the market will definitely test your patient.

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Quote from: serjent05 on December 05, 2024, 12:14:33 PM

Isn't this a Binary Option? Well, I think it is worth to try if any gambling platform where I play offers this kind of service. I think if one is so keen on the Bitcoin price movement, this gambling on the fluctuation of price of Bitcoin will surely give that person an advantage. This is like a skill-based gambling where the insight and prediction skill of a person is tested.

Yeah it's similar to binary option where you choose to bet low or high for short period of time.

I don't really sure if it's a skill based games because when the price just move like $100 or 0.1%, you could lose, the price movement is unpredictable, not to mention which sites that Rollbit use for their futures.

The price movement from one exchange to other could be different.

justdimin

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Quote from: Outhue on December 04, 2024, 03:14:07 AM

Are you guys talking about the same leverage trading that's available on top crypto exchanges? Are you guys for real? Because we are all missing a part here, as for OP saying that Rollbit offers such service, here is a question for you.

Does Rollbit offers stop loss option on their platform? If not they sucks, leverage trading on Bitcoin price action is better off on a crypto exchange, I can't count how many times I've escaped losses because of stop loss feature.

Leverage trade in a casino? Haven't heard of it yet but what I'm only aware with, is the options type of trade. It is only simple just like how other casino game works. Complex trade like leverage should only belong on a proper place like a trading exchange. However for the sake of your context or if a casino supports it for example, indeed that would be suck if they don't have a stop loss feature but for a famous and quality casino like Rollbit, I think they will have it mate, so don't worry.

Even a normal platform would still have it for sure, because stop loss are are already part of the mechanics of trading. It is like a machine that if you miss one function it won't work properly anymore. It is just that there are still traders who don't use it and interestingly, they still do well. It only depends on our preference after all, if what we think we are good at.

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Quote from: taufik123 on December 06, 2024, 03:52:40 AM

Quote from: bangjoe on December 05, 2024, 11:50:32 AM

-snip-
In the past, I had also been in the perception that the futures trading was a gambling but after I explored, the fact was not like that, we only did not understand the mechanism as a whole, how we can revenue it in trade, except binary trade, I am very sure that it Just like gambling.

Binary trading really resembles gambling and is indeed the same, and of course it is different from futures trading,
which still has the opportunity to add liquidity so that the position is maintained.

Futures trading also requires analysis to determine where you should maintain your position and where you should take profits.
Newcomers who come in without basic trading knowledge may just enter without doing any analysis, this may be what is called gambling,
only the nature of the trader and not the platform used.

I started from spot trading and learned all the trading knowledge, until finally figuring out how futures trading works and how with the obvious differences of binary trading as modern gambling trading.

Yes that's right, all forms of trade can be used as gambling but some are pure like binary and some are not like future, people who do not understand analysis and do not do it in spot trading can be said to be gamblers because he doesn't know what he bought and will be Moving where, just convincing myself that I will get a victory in a particular coin and it's the same as gambling.

The important point is to understand all forms of trading in order to avoid gambling in trading if you want to avoid it, because there are many forms of trading with various kinds of mechanisms, so if you don't know then I think any assumption can be accepted.

Cryptmuster

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Quote from: alani123 on December 03, 2024, 05:46:52 PM

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

It seems to me that this could be of interest to those who are good at trading, but in this case, there is no need for a good trader to go to a casino if he gets good results in trading.

I will tell you about my example, I allocate a much smaller amount for betting than for trading, and the reason is very simple, in gambling it is much more difficult for me to earn money and I have many more losing bets than unprofitable transactions. Gambling is very categorical, you bet on a match, and then you either win or lose, and in trading you have different options, you can wait for the end of the correction, average the transaction, and so on.

taufik123

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Quote from: bangjoe on December 05, 2024, 11:50:32 AM

-snip-
In the past, I had also been in the perception that the futures trading was a gambling but after I explored, the fact was not like that, we only did not understand the mechanism as a whole, how we can revenue it in trade, except binary trade, I am very sure that it Just like gambling.

Binary trading really resembles gambling and is indeed the same, and of course it is different from futures trading,
which still has the opportunity to add liquidity so that the position is maintained.

Futures trading also requires analysis to determine where you should maintain your position and where you should take profits.
Newcomers who come in without basic trading knowledge may just enter without doing any analysis, this may be what is called gambling,
only the nature of the trader and not the platform used.

I started from spot trading and learned all the trading knowledge, until finally figuring out how futures trading works and how with the obvious differences of binary trading as modern gambling trading.

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Quote from: Accardo on December 05, 2024, 06:34:03 AM

Quote from: Perfectbaby on December 04, 2024, 03:03:36 PM

Wanted to actually mentioned this site that they offers such prediction before I have to scroll down a bit to see you had already mentioned it. Yes, this polymarket offer variety range of things including the just concluded US election predictions, it was majorly carried out through this market and this cause so much concerned to some elites who are concerned about the funding of US presidential election.

Most activities that requires opposition, argument, and uncertainty, invites "gambling" to give players more reason for standing on their motion. No doubts gambling is closer to trading, and the crypto casino also want more of traders to participate in gaming.

By foiling out features that' are seen in exchanges and adding it to the casino. Though it's highly volatile to bet on the price of Bitcoin, people would want to try, due to its kind of funds or wins close to the profit in trading.

Usually people would love to try out new things from gambling site especially features related to that of trading and it would give that opportunity to explore another different forms of gambling even though it's directly slot or roulette maybe sports betting at least having another feature would also increased the interest of gamblers those who are also interested in trading related predictions.

serjent05

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Quote from: alani123 on December 03, 2024, 05:46:52 PM

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

Isn't this a Binary Option? Well, I think it is worth to try if any gambling platform where I play offers this kind of service. I think if one is so keen on the Bitcoin price movement, this gambling on the fluctuation of price of Bitcoin will surely give that person an advantage. This is like a skill-based gambling where the insight and prediction skill of a person is tested.

Findingnemo

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I don't do futures and options and I won't recommend anyone to do it. But if they are doing it knowing the risk associated with it then they have to pick where there's more potential. It looks like if the casino offers similar betting features that will comes with less restrictions and obviously more chance to make money so why not.

But it can't be simple, casino might need added licence to do that because it's totally different things even though there's resemblance or they need to find a way to legally work it under the Gambling license.

bangjoe

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Quote from: Blowon on December 04, 2024, 03:25:11 PM

It looks very similar because the risks involved are quite large. In my opinion, future trading is the same as gambling. Sometimes prices are manipulated, but there is still a difference between gambling and trading.

Similar does not mean the same, all of them have the risk of both gambling and trading both have things that cannot be guaranteed accurate predictions, but in the struggle trading you can maintain your position by increasing the amount of liquidity of your position to hold your position so that it is not isolated or hit by a margin call .

In the past, I had also been in the perception that the futures trading was a gambling but after I explored, the fact was not like that, we only did not understand the mechanism as a whole, how we can revenue it in trade, except binary trade, I am very sure that it Just like gambling.

Dr.Bitcoin_Strange

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Quote from: Hirose UK on December 04, 2024, 09:53:44 PM

Quote from: Dr.Bitcoin_Strange on December 04, 2024, 02:09:20 PM

For me, it is 100% possible that I can go into trading with $1k every day and if am not greedy, I am certain to make 5% every day but in gambling, I am not certain of winning every day. So, I see a big gap between trading and gambling. If you are a skilled trader, 5% profit (ROI) is 99% guarantee every day but most people lose money in trading because they are handling it like gambling and because they are greedy to accept 30% profit below.

I agree with you, even though we choose casino game that is based on the actual BTC price fluctuation, it will still have very high risk of losing because what we do is bet and in our own trading we can minimize losses but in gambling we can never do it more securely.
Actually, the attitude of each individual will also be able to provide certain influence on the success or failure that occurs, but basically when see it can provide rewards that look much bigger and faster, it makes conditions like this what often makes most people complacent.

Yea, in trading at least you can apply the feature of Stop Lose and Take profit, while you can not do same I'm gambling. So, even if prediction of Bitcoin price is initiated in the casino, the casino will still have upper hands in the rules that can make player win or lose.

Smartprofit

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Yes, gambling based on the change in the price of Bitcoin or other cryptocurrencies would interest me.

Another thing is that, for example, the famous English economist and investor Andrey Movchan believes that the actions of manipulators are visible on the charts of all cryptocurrencies. I don’t know if this is true. It is quite possible that the owners of various Bitcoin ETF spot funds are in collusion with each other and can influence the price of the first cryptocurrency. It is impossible to completely exclude such a possibility.

I don’t know whether the owners of ETF funds in this case will want to earn “pocket money” by playing in an online casino, but they will have a potential opportunity. And I would not want to play in an online casino, competing with the owner of insider information. This is an absolutely hopeless undertaking...

Nevertheless, I like the very idea of such gambling!

vs2014

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Don't know if your answer is? Then you must be gambling. But if you have the answers to these questions, then assume you're not gambling. Because you are not blind. Now you think, which one you are. While taking an entry in any currency pair, a trader carefully scrutinizes the current position, previous position of that currency pair and then accepts the entry. This scrutiny is called trading analysis in trade parlance. On the other hand, if you start trading without knowing anything, then you are turning trading into gambling. Because gambling does not require any experience or knowledge.

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Quote from: Jaycoinz on December 04, 2024, 02:35:13 PM

Quote from: topbitcoin on December 03, 2024, 06:53:37 PM

Trading is only said to be gambling for some people who are classified not for everyone who is a trader so that in the end the scope must be differentiated in this case because seeing from the conditions and some things that happen we must be aware that in the end trading is said to be gambling for those who claim to be traders but only rely on the instincts they have and the belief that the coin will go up but do not know when exactly the most important thing is that they believe without thinking about technical or other analysis in looking at candel charts for example.

Things like this are certainly not everyone can be said to be the same because there are some moments where a lot of professional traders always do it according to their analysis and expertise not just based on instinct alone so even though in some cases sometimes there will be a lot of people who agree to say trading is like gambling but there must be a classification regarding this matter.

There's a big distinction between trading the financial market and gambling because in trading the risk can be properly managed compared to gambling but people now take certain risks in trading that can also be regarded as gambling. When you trade against the trend in the financial market that's obviously gambling, going in opposite direction of the market is a huge risk and it's not really a responsible risk to take. But when people say that they are the same I always disagree. When it comes to crypto and forex it's a school of continuous learning, the more you learn the more skillful you become, I can't say the same for gambling.

There is a clear similarity between these two things, namely money which is the main thing, and with profit and loss which are two things that definitely happen but maybe loss is more common. Many people who gamble wrongly are those who take greater risks in gambling in the hope of easy profit, but instead of wanting to get easy profit, it actually makes them in a sad state.
For the risk, I think it is the same, but with trading itself, isn't the risk minimized by us who have good knowledge and good control, also with gambling if we have control then maybe there will be no big risk that will happen, the same as there will be no big loss that occurs, it's just that gambling does not require knowledge to do it.

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Quote from: alani123 on December 03, 2024, 05:46:52 PM

~

Depends? Personally if I'd ever bet on a game based on the market, I'd just go to the market. I'd rather gamble with something simple and, well, enjoyable for me. Gambling relating to the market isn't really that enjoyable lol. Doesn't really matter that my goal is to enjoy, just seeing anything related to market prices would just flip my switch and start on that heavy mindset that I'm actually trading and not having fun. I'd be pretty happy if casinos just stick with what they have ngl.

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Quote from: Perfectbaby on December 04, 2024, 03:03:36 PM

Wanted to actually mentioned this site that they offers such prediction before I have to scroll down a bit to see you had already mentioned it. Yes, this polymarket offer variety range of things including the just concluded US election predictions, it was majorly carried out through this market and this cause so much concerned to some elites who are concerned about the funding of US presidential election.

Most activities that requires opposition, argument, and uncertainty, invites "gambling" to give players more reason for standing on their motion. No doubts gambling is closer to trading, and the crypto casino also want more of traders to participate in gaming.

By foiling out features that' are seen in exchanges and adding it to the casino. Though it's highly volatile to bet on the price of Bitcoin, people would want to try, due to its kind of funds or wins close to the profit in trading.

Topic: Trading has become too much akin to gambling. Let's embrace it - page 4. (Read 1247 times)