Topic: Trading has become too much akin to gambling. Let's embrace it - page 7. (Read 1210 times)

No KYC? Rollbit is a KYC casino.

The only real trading is spot because you trade based on how much you have with reasonable risk.

While futures trading is gambling, you trade with the risk higher than what you have, that's why it's not reasonable and more like a gambling.

So yeah, for me there's no difference between futures in exchange and futures in casino, the price move almost same.

What exactly you meant? Rollbit has it's crypto futures, not exactly games with house edge or algorithm https://rollbit.com/trading/BTC

There are already quite a lot of gambling games based on guessing the price of bitcoin, or guessing the movement of its course. But the bitcoin price itself is a value that is being manipulated. It is clear that this does not matter for some small bets, but the very fact of this means that such a game is not provably honest.

By the way, trading has long degenerated into a gambling game, where ordinary people essentially need to guess the future. Whereas those who manipulate this "global financial casino" are guaranteed to make a profit. In fact, this is a fraud of gigantic proportions, since there is a predetermined robbery of the majority, covered by the example of a minority who allegedly got lucky in trading. To convince people that the market supposedly lives its own life, they even invented such a "science" as technical analysis to guess the future.

I would, because your strategy here is staying updated with Bitcoin news The market tends to react quickly to big news since people love to speculate, and that gives you an edge. If there’s fresh news you believe will make waves, like something that might push the price up, you can act on it. That’s the key difference between betting on Bitcoin’s price and pure gambling. In traditional gambling, the house edge and algorithms are stacked against you, it’s all about luck, and no strategy can change that. But with Bitcoin, staying informed and using market trends can improve your chances of making the right call.

I prefer to trade in the exchanges and use their future trading feature. I am trying to analyze the market before trade so I don't just waste my money by predicting the price moves only. Maybe some gamblers wants to trade in the casino which have that feature and feels more comfortably than in the exchanges.

But the casino will ask about KYC to their members as that is part of the regulation. We can't refuse that if we still want to use that casino to gambling. So you should follow the rules from the casino and be careful spends your money.

For me, casino is just a place for have fun but I can use their trading feature if that is available on their place. Choosing the casino will not easy as it say because we need to search for what we want.

At first glance I once thought that trading was like gambling, because there are risks and benefits that can be obtained besides that the benefits that can be obtained with luck are also not much different from gambling even though we seek information to deepen our trading knowledge which aims to minimize or avoid losses but still this is not much different from gambling.

In addition, maybe for those who trade in the short term which is more like gambling, because for those who trade in the long term I think it's different.

I haven't tried this kind of betting, so I might give it a try if I come across that. But it doesn't really excite me, so I probably won't be making a deliberate effort just to try it. It's probably not my cup of tea. At the end of the day, it isn't just like dice. Although Bitcoin's price has always been volatile, betting in this kind of market certainly needs analysis more than just pure luck. This isn't like those random-based casino games. This can be closely compared to sports betting in that your bet can have bases.

This is the first time I have heard of a casino that offers trading futures, which looks similar to binary options.

The unique feature, you can use the 1000x leverage the only maximum leverage that you can only use on Binance is limited to 100x.
The high leverage 1000x is only good for the short term it is totally gamble because you can only rely on technical analysis with fundamental analysis.

But for the $100k, why not choose between in these two options, either up or down?
If you know or its your analysis that it's going to be down when it touch to $100k why not get ready and make profit on short position?
This is not the same as spot exchange, where you can only buy and sell when the price rises, but futures like this allow you to profit from a short or sell position if your prediction is correct.

No, I would not. When Bitcoin was closed to $100k the people between on the price then to reach it in some hours, or a day would have lost money. One guy said he wasn't going to come back to X until Bitcoin hits $100k, that was totally unnecessary. Personally I know Bitcoin is going to surpassed $100k but when this would happen, that I don't know and I am not willing to make any bets on that. I'd rather bet on sports events which I am sure about or still bet on slot games which is another ofy personal favourites.

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.

Why not! I know its similar to the gambling risk. It could yield huge money and also well too risky that we can lose a lot. Just like how we ought to approach gambling we can use the same pattern with this too—starting with a low amount and checking if we can profit comfortably through it. Once we are profitable with the smaller amount we adjust into a larger amount—no difference from most strategies we use for gambling. The mentality is somewhat the same.

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.

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

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?