Topic: Why is Gamble gaining more fans than Bitcoin? - page 11. (Read 1421 times)

We need to be rationale while comparing or analysing bitcoin. There are folks who become based while defining benefits of bitcoin which in my opinion is not good. Every trading market has its own pros and cons, nothing is free from cons and so is bitcoin. If you have proper experience and knowledge of specific market only then you can succeed in specific market. Bitcoin without proper knowledge and know how won't give you any benefit.

Gambling is a friendliness games or sports we play to enjoy ourselves during our free hours of the day, bitcoin is a digital currency in cryptocurrency and we can say it this way that today in gambling, there are thousands of millions gamblers who uses bitcoin or other cryptocurrencies to play gambling which means almost all the numbers of today's gamblers have already gearr about bitcoin and uses to gamble, also considering bitcoin itself, both gamblers, non gambler users, politicians and other people both young and old make use of bitcoin and we can see how high is the bitcoin market cap as at today, which means that bitcoin is far growing more than gambling itself.

Well I'd say that if the topic is rephrased to why online casino is gaining more fans than bitcoin it'll be better and comparable, because gambling generally as said by previous responses has been around for centuries, which keeps it ahead of many industries including bitcoin. Humans don't like delay, everyone wants to see immediate results; win or loss. That's why a good number of people gamble over investing money into bitcoin. Additionally, Gambling happen naturally. Without the house or event gambling will occur, even in nations where gambling is illegal, peers can be gambling privately with no traces. Unlike bitcoin with lots of barriers, citizens can be traced if they use bitcoin in a country where its banned. You'll see that bitcoin doesn't compete with gambling by any means for now, as people can easily change in future coupled with rise in gambling addiction people can begin to choose bitcoin.

Do you know the difference between gambling and investing in BTC? If gambling is the sensation/fantasy of wanting to make big money quickly. For example in the casino. if you get the Jackpot in a game of chance but, very high risk But, In BTC it takes time to hold long term and it takes patience. Yes. the only risk is price fluctuations that go up and down regardless of other issues in the digital world.

So, I can conclude that gambling and Bitcoin are much different. when viewed from the fulfillment of needs and audience. Yes. there is a link between Cultural and Social Factors of a person where Gambling offers immediate entertainment while Bitcoin presents a long term investment opportunity with unique features and potential for value appreciation and potential to reshape the financial system.

If you think gambling is suitable for comparison with forex trading, there is nothing wrong with OP comparing bitcoin to gambling because aside from holding, bitcoin is still used to trade in the market. This is a bias for bitcoin to say that bitcoin is better than forex or stocks, as each market has its own advantages. You cannot trade and make money with forex, but many people who have succeeded with it are even richer than the bitcoins you hold. Do not criticize others when you are not much better than them.

Bitcoin and gambling aren't comparable to anyone who has some knowledge about the subject, but article you were referring to wasn't talking specificly about BTC but about cryptocurrencies in whole, and if you take the everytyhing that falls under that umbrella, it is gambling. Not in a traditional sense, but many people see trading in stock markets as gambling as well.

Then if you add the fact that most of the cryptos are microcaps that die before hitting to any marketcap indexer. Then how else could it be described? Speculative trading/investing is just a fancy term for trying for your luck and using that in this case is quite misleading. If the most likely outcome is that you are going to lose it all, your odds are worse than in gambling.

Gambling players are more prone to winning here and now than over some time.
In general, in most cases, all people prefer to receive money in a short period. Experiments were made in which $50 was offered after 3 months, $100 after 9 months, and $50 immediately or $100 after 6 months. Most chose the shortest time.
If we talk about profits from Bitcoin, then investing in it is done by people who know how to wait patiently, setting specific goals for themselves. This is not achievable by a gambler; play for the future and spend your money rationally.

I believe it's very hard to compare gambling (an activity) to Bitcoin (a currency/an asset) because these are two very different things. Gambling is something people have been doing literally for thousands of years. It's a form of entertainment that many find very engaging because of the anticipation, hope, and fast results. Bitcoin is a cryptocurrency that only exists for less than a couple of decades, and people can trade it, but the volatility of the price is not the same as fast bets and rewards/losses. Also, many people use Bitcoin differently, holding or spending it.
And then, of course, there's a big overlap between gambling and Bitcoin because there are crypto casinos where one can use Bitcoin for gambling.

You are not making any sense, sorry to put it this way.

People want to gamble because the minimum age is 18+, what about Bitcoin? Do you have to be at a certain age to buy Bitcoin?

Your comparison is even more annoying, asking that Bitcoin is more risky than gambling, are you on drugs before creating this topic or what? Because even those who are not into Bitcoin investment know the answer.

Gambling takes more from people than giving back to them and Bitcoin does the opposite, you keep your Bitcoin in your wallet and wait it out, it's time based investment, how is this even risky?

Gambling is an instant judgment, you get your result in a day, even in minutes, either it's going to go wrong or not, Gambling determines to take everything from you, there is no analysis or strategy, making it one of the riskiest ways of making money.

Compare something else with gambling, not Bitcoin, it would be better with Forex trading and gambling, Bitcoin investment is better than both.

   

Several research creates the hypothesis which states gambling has been around for over 2300 B.C and a record of gambling marked on 600 B.C before the invention of minted currencies in Lydia in the 7th century.

This is only evidence that gambling has been around for ages, from the use of tiles in Ancient China to the use of dice in Ancient Greek, etc Gamble has been around way longer than bitcoin has and it's a scheme for quick money as the odds are mostly favorable. Whereas there are loses in gamble, people still tend to gain a lot from it. It might as well be a survival technique. 

In comparison to Bitcoin which was only created few years back, it's only right majority of adults would likely be more invested in gamble than bitcoin, especially having little or no knowledge about Bitcoin.

because gambling is more than a millennia old while Bitcoin is just 14 years old. also, while bitcoin and gambling have risks, they ultimately have different purposes, one is supposed to provide a decentralized peer-to-peer network/transactions, while the other is to provide entertainment as a way to pass time and such(though it is clear that not everyone is doing that).

Investing in Bitcoin and gambling cannot be compared regardless of the reason, although Bitcoin investment and gambling both expect the arrival of something of value, there is a difference between these two activities. There is a big difference between Bitcoin and gambling, which is why they should not be considered the same.
gambling is entertainment, it's no wonder why the number of people joining in gambling activities is increasing. Gambling players bet on what they believe can win money. Bitcoin is not gambling and cannot be compared to gambling, Bitcoin is a medium for storing value like gold and silver the price will go up when demand increases. Gambling has had a long history long before Bitcoin was launched, while Bitcoin is still in its infancy (not many countries have legalized Bitcoin yet), however the popularity of Bitcoin will be much more increased.

I disagree with you that gambling is easier to understand than bitcoin. As for me bitcoin is easier to understand than gambling. The following are the areas you can use bitcoin, to invest, to trade and for buying and selling of goods and services. So which of the area is difficult to understand in bitcoin? Bitcoin is just to buy and store in the wallet as investment then when you have learned trading then you can go further to trade with it. And it is trading that is difficult so one can start with investment.

The number of people who gamble and the number of people who invest in bitcoin, when viewed in terms of numbers, it is gambling that is superior. But I'm not surprised by this fact, because gambling already existed, long before bitcoin was created. Meanwhile, bitcoin was created more or less 15 years ago.
That's why more people already know about gambling, than they know about bitcoin. So if there are very many users or gambling players now, that is a natural thing. Because gambling was already there, compared to the creation of bitcoin.

When talking about risk, gambling and bitcoin, surely both have different risks. Because the way it works and the system that is run is also different. So if you compare the risks of gambling and the risks of bitcoin, I don't think it's the right thing to do. Because what to compare from gambling and bitcoin?. the two are also clearly different from all aspects.

So in conclusion, there is no need to make comparisons between gambling and bitcoin investment, just because of the number of users. Because in essence, gambling has been popular for a long time, and bitcoin is still relatively new.

because Gambling had been existing since they are born and let me correct you , this is unfair to be competition because gambling is increasing since day one while Bitcoin has just created/released 13 years ago so that is not fair to conclude competing .
and another thing? bitcoin is less risky from gambling but people look at gambling more reality than crypto not unless time comes they do understand this deeply.

Gambling is older than even minted currency. Some historians found out that the first gambling activity happened in about 2300 B.C, while the first minted currency came into existence in 1700 years later. So in terms of age gambling is older than Bitcoin which is just 14 years. To date, people gamble without money because anything can be used for gambling.

Gambling is legal in almost all the countries of the world with few exceptions. Even in those countries where gambling is banned, there are still some forms of gambling. But Bitcoin is facing so many restrictions in most countries making its spread slow.

The amount of money gambling companies budget for advertisement is always big. They engage in all forms of promotion to spread their service to all the nooks and crannies of the world. Bitcoin doesn't enjoy such huge promotional support. It is common to see different betting adverts on social media and large billboards but you hardly see such adverts promoting Bitcoin.

With little funds, anyone can gamble but you need higher funds to buy or use Bitcoin. Bitcoin is for people that have a source of income but even the unemployed can source for little funds and try their luck on gambling.

Gambling needs little or no knowledge to engage and even illiterates have the basic skill to gamble. But you need to have the ability of reading, write, and have basic knowledge of online banking to be able to use Bitcoin.


The same risk you bear when you use fiat is similar to the risk you have to face when you are using Bitcoin as a currency. As a Bitcoin trader, you face the same risk as a stock trader. When you invested in gold, other precious stones, or real estate intending to make a profit from it, you somehow bear the same risk as a Bitcoin hodler. Gambling is highly based on luck and the motivation is to get quick profit. The risk in gambling is greater than that of Bitcoin but you should always invest what you can afford to lose on both.

Answer to your query is very simple. But you first have to give a thought to another question which is: How old is gambling and How old is BTC? If i give the answers then Gambling is what like Hundred or thousands of years old but BTC is only 15 years old. So, how a business running so long which has attracted a lot of people and many people even their generations are stuck in gambling. So, they have left no other way but to gamble.

The point is, gambling is very old so does it trust and, people who are involved in it are also numerous but in compare to BTC the audience and users are less but many are shifting towards BTC. Because those who wanted another source of income which has less risk factors they will migrate from Gambling to BTC.

Because gambling already existed in this world compared to Bitcoin, also when talking about gambling in general, not only online gambling, the public understands it more than Bitcoin where you have to study and find out what Bitcoin is, while the information on the internet about Bitcoin does not fully describe what actually so that it can lead people to misinformation.
The risks in Bitcoin and gambling are different, I mean if you are involved in the right Bitcoin investment then the risk can be said to be zero, the problem is that many think staking Bitcoin on online platforms is considered an investment that we can get into a scam, whereas gambling, no matter how smart you are, still has opportunities to lose money although getting profit is not impossible.

How do you compare bitcoin investing to gambling? Why don't you compare investing in gold and stocks with gambling but with bitcoin? Are you looking at it as a variant of gambling as many others are thinking?

I don't think the use of bitcoin by online casinos will increase bitcoin acceptance in society. It is undeniable that the casinos were the first to accept bitcoin, but the popularity and acceptance of bitcoin in society has nothing to do with that. In my country and the bitcoiners I know, they hardly join any casino and don't know anything about gambling. So I don't think gambling will drive the growth of bitcoin in our real life.

Gambling is more easy to understand, and it can frustrate your life in a way you will regret why you take the risk to gamble because it has made many people to sold their properties just because they want to make money to create a better properties which will make them to loose their money. Gambling is the oldest bet many people used to make money that made it popular than Bitcoin, but with time Bitcoin will be more popular than gambling because many people prefer to invest in Bitcoin investment than gambling, because there is a bright future behind Bitcoin investment. The gambling risk is more higher than Bitcoin risk because if you apply long holding in Bitcoin investment, it will be difficult for such investors to experience losses from their investment in the future.