Why is Gamble gaining more fans than Bitcoin? - page 8.

wiss19

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Quote from: Yogee on July 18, 2023, 12:11:53 PM

Someone also mentioned the similarity with investing with stocks or gold and I agree with that. This may be also due to the lack of financial literacy. I mean how many people had been thought about this in school? There are some for sure but they are probably a small minority. You can learn gambling literally from everywhere starting from your house to school so it's not surprising that there are more people who knew how to gamble than to invest.

I think that is because both of them has a risk but the risk in pure gambling is big than in stocks and gold. Even the risk of stocks and gold is also much lesser compared to Bitcoin because there are less volatile and are already legally accepted for more many years worldwide.

In school, we have economics subject so investments are being tackled there sometimes but I don't think gambling are being taught in school as gambling have gained a bad reputation due to what it can cause to a person if they are a little weak mentally and emotionally. Investing is not hard but it's kind a boring so people usually go for gambling. Gambling is still a separate activity so both should not be compared to each other.

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Quote from: rachael9385 on July 18, 2023, 08:57:29 AM

we all know that Bitcoin is a good investment and it has changed a lot in the crypto world but the interesting part is that the numbers of Bitcoin investors can't be compared to gamble and my question is Why? or is the risk involved in Bitcoin higher than gambling risk?

Because they think (with gambling) they can make money fast than investing in Bitcoin. In fact yes, When people invest in Bitcoin, they waited at least 4 years to get maximum profit (if they don't trade it daily), In gambling they can do it in minutes (when playing slot or any multiple-game board). Gambling can make their wishes come true, they can make 1 satoshi to 100 satoshi in few minutes. While invest in bitcoin, they have to wait for about more years than play in slot.

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Quote from: Wakate on July 21, 2023, 01:37:16 PM

You don't expect everyone to invest in Bitcoin like gambling. Gambling is very different from Bitcoin investment and many people are still far away from cryptocurrency that is why Bitcoin is gaining adoption gradually and we can not compare it with gambling that had been in existence for a very long time before now.

You are right bitcoin is still early and just little people knows about bitcoin, but even as bitcoin is still early, we can see that the rate at which people are still investing in bitcoin is still kind of encouraging, am sure in the next few years, by then am sure attention will be shifted from gambling to bitcoin, because lots of gamblers don’t really know much about bitcoin yet, whenever most of them discover bitcoin, and they know that they can make money by investing in bitcoin for a long time, or trade bitcoin, and the risk is low compare to gambling, then am sure their attention will be shifting from gambling to bitcoin, but we have to keep on creating more awareness about bitcoin.

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Quote from: DaNNy001 on July 21, 2023, 02:41:37 PM

Gambling is not a new thing in this world as gambling activities date back all the way to 15th century and I think it might be even older but bitcoin is just a newbie according to forum rank and comparing the two would be like the clash between David and Goliath

It's even strange to me for OP to have raised this kind of topic because OP should know very well that Bitcoin is some new technology compared to gambling, which has been around for centuries now. Perhaps if we are even classifying gambling, I think it falls under the category of entertainment, which is generally popular. For Bitcoin, it is classified under investment, and there are many forms of investment systems. Bitcoin is also new compared to the other means of investment that have been used in the past, when Bitcoin was not yet in the picture.
The question should be, between entertainment and new technology, which goes more viral? I think it's entertainment.

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Quote from: Josefjix on July 21, 2023, 12:46:36 PM

Quote from: Cling18 on July 21, 2023, 11:56:45 AM

We all know that most of us want challenges and thrill and it could be found in gambling. There are also people who are buying Bitcoin while gambling at the same time. It's just that some people usually want a fast result which they could find in gambling. Bitcoin is worth holding in the long run and while waiting for the bull season, most of us focus on gambling just to see good results while others seek entertainment on it and avail the bonuses and promotions that each casino is running.
However, Bitcoin isn't comparable to gambling since they both have different functions and risks. We can do both investing and gambling at the same time especially if we're smart enough to deal with all the risks.

Everyone is familiar with gambling, which has been around since the beginning of time. While bitcoin is gaining popularity, it cannot be compared to gambling, which has been around since the beginning of time. Other than gambling, which is unreliable and has a risky outcome, Bitcoin has remained the ultimate solid project with good earnings. Individuals tend to fall into the gambling category since it is very easy and seamless to put a wager on games, as opposed to trading, which might take a long time depending on the project road map.

Gambling is not a new thing in this world as gambling activities date back all the way to 15th century and I think it might be even older but bitcoin is just a newbie according to forum rank and comparing the two would be like the clash between David and Goliath in the holy scripture, one was very mighty and the little but yet so strong and actually prevail when it comes to importance just like the way bitcoin prevails over gambling interns of benefit to human.

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Quote from: topbitcoin on July 21, 2023, 01:26:01 PM

Quote from: Hispo on July 21, 2023, 01:02:50 PM

I don't think you can fairly compare Bitcoin holding with an activity such as gambling, it is rather a off-context comparison.
On one hand, Bitcoin is very new, it was launched less than two decades ago, while gambling has been part of humanity since the beginning of civilization.

Also, your post implies that having Bitcoin or holding Bitcoin is close to gambling, when it is not true, depending whom you ask Bitcoin is either a currency, an asset or an investment, ect. While gambling will always be what it is, complete and explicit risk for the sake of profit, it goes beyond volatility.

Yes, Gambling with bitcoin is different, so I think it is unethical to have a comparison in this regard, because gambling offers easy profits and doesn't take much time in the process, even though the probability is only 10% to win, and in bitcoin you need time to be able to benefit from it.
And it's true that bitcoin hasn't been around for a long time, so few people like it, the adoption rate is still small, and gambling has been practiced a lot, even in remote villages.

Honestly it depends on the owner of the bitcoin itself, including like you have FIAT in your bank account, if you want to make a deposit into gambling, maybe you can say the same thing, closer to gambling, because as we know that bitcoin is a tool for transactions, and gambling platforms accept it, so I think it's the same thing and doesn't mean that bitcoin holders are closer to gambling.

Its interesting, but its not splitting atoms or renaming Pluto. Gambling and investing include risk and reward. However, Bitcoin investment risk/reward differs from gambling.

Bitcoin gambling and investing are financial opposites. While "getting rich quick" may inspire jealousy and terror, gambling has a bigger risk of losing than investing. Mathematically, gambling is pessimistic.

Bitcoin is like a toddler learning to walk, while gambling has run marathons for generations. Bitcoin's use on gambling platforms doesn't mean they're fundamentally related.

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Quote from: rachael9385 on July 18, 2023, 08:57:29 AM

In the world to day gambling is leading instead of BitcoinBTC (crypto currency) and more are still wanting to join gambling because the minimum age to gamble is 18+ and lot of upcomings are waiting and this is the total amount of gamblers, so let's talk about the crypto currency (Bitcoin) we all know that Bitcoin is a good investment and it has changed a lot in the crypto world but the interesting part is that the numbers of Bitcoin investors can't be compared to gamble and my question is Why? or is the risk involved in Bitcoin higher than gambling risk?
Just chesk this source

It should not be surprising at all, bitcoin is an investment and something good you can do for your future, while gambling is a form of entertainment, if you take the time to look around you will realize that when people are forced to take a choice they will for the most part take the short term entertainment option over something which could be good for them over the long term, so even if bitcoin can help people to achieve financial freedom in a few decades, gambling in theory could offer this in seconds if you win a big jackpot, and as such people prefer it over bitcoin.

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Even without BTC people are already gambling but there could be a little truth to what you are saying. Because there is a reason to gamble for a cryptocurrency investors and a crypto wanna be investor. I think are lot of people also in this forum was once just an investor and just as reading this active forum somehow they were tempted to bet on some games.

I have to say there is a reason to gamble since you can win BTC while if you gamble in fiat you only earn fiat.

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Quote from: rachael9385 on July 18, 2023, 08:57:29 AM

In the world to day gambling is leading instead of BitcoinBTC (crypto currency) and more are still wanting to join gambling because the minimum age to gamble is 18+ and lot of upcomings are waiting and this is the total amount of gamblers, so let's talk about the crypto currency (Bitcoin) we all know that Bitcoin is a good investment and it has changed a lot in the crypto world but the interesting part is that the numbers of Bitcoin investors can't be compared to gamble and my question is Why? or is the risk involved in Bitcoin higher than gambling risk?
Just chesk this source

Lol where did you get that gambling gaining more fans than Bitcoin? The only reason why gambling is such a big business is because even the ultra rich are gamblers and the amounts they gamble dwarves the amounts that "regular people" gamble. And with a house edge which pretty much guarantees that house wins most of the time, the profits are insane. But that does not mean that a lot of people are gambling fans. If anything, gambling is just a human activity, intrinsic to the human condition.

All in all, if you consider popularity, Bitcoin is better known in the world than any casino. In fact, I think most people have no idea what the top 3 casinos in the world are, and do not care about finding out.

Bitcoin, on the other hand. Ask a random person about Bitcoin. More than half the time, they will know about Bitcoin. Many times they even own Bitcoin, themselves.

molsewid

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Quote from: Hispo on July 21, 2023, 01:02:50 PM

I don't think you can fairly compare Bitcoin holding with an activity such as gambling, it is rather a off-context comparison.
On one hand, Bitcoin is very new, it was launched less than two decades ago, while gambling has been part of humanity since the beginning of civilization.

Also, your post implies that having Bitcoin or holding Bitcoin is close to gambling, when it is not true, depending whom you ask Bitcoin is either a currency, an asset or an investment, ect. While gambling will always be what it is, complete and explicit risk for the sake of profit, it goes beyond volatility.

Yep, because gambling exist even before bitcoin and other tokens that are available in the market. And it will now available thru crypto and it is adopted and can be played using different coins and tokens so it is more well known but we should not compare these two since it is different from each other and also not all gamblers are into crypto likewise to bitcoin to gambling.

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Quote from: rachael9385 on July 18, 2023, 08:57:29 AM

In the world to day gambling is leading instead of BitcoinBTC (crypto currency) and more are still wanting to join gambling because the minimum age to gamble is 18+ and lot of upcomings are waiting and this is the total amount of gamblers, so let's talk about the crypto currency (Bitcoin) we all know that Bitcoin is a good investment and it has changed a lot in the crypto world but the interesting part is that the numbers of Bitcoin investors can't be compared to gamble and my question is Why? or is the risk involved in Bitcoin higher than gambling risk?
Just chesk this source

You don't expect everyone to invest in Bitcoin like gambling. Gambling is very different from Bitcoin investment and many people are still far away from cryptocurrency that is why Bitcoin is gaining adoption gradually and we can not compare it with gambling that had been in existence for a very long time before now. Bitcoin was founded in 2010 which is just about 13 years now in existence. Gambling had been there since centuries making people to make money by betting in there favorite sport or game that they love to play and if they win they are going to make profits from it.

topbitcoin

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Quote from: Hispo on July 21, 2023, 01:02:50 PM

I don't think you can fairly compare Bitcoin holding with an activity such as gambling, it is rather a off-context comparison.
On one hand, Bitcoin is very new, it was launched less than two decades ago, while gambling has been part of humanity since the beginning of civilization.

Also, your post implies that having Bitcoin or holding Bitcoin is close to gambling, when it is not true, depending whom you ask Bitcoin is either a currency, an asset or an investment, ect. While gambling will always be what it is, complete and explicit risk for the sake of profit, it goes beyond volatility.

Yes, Gambling with bitcoin is different, so I think it is unethical to have a comparison in this regard, because gambling offers easy profits and doesn't take much time in the process, even though the probability is only 10% to win, and in bitcoin you need time to be able to benefit from it.
And it's true that bitcoin hasn't been around for a long time, so few people like it, the adoption rate is still small, and gambling has been practiced a lot, even in remote villages.

Honestly it depends on the owner of the bitcoin itself, including like you have FIAT in your bank account, if you want to make a deposit into gambling, maybe you can say the same thing, closer to gambling, because as we know that bitcoin is a tool for transactions, and gambling platforms accept it, so I think it's the same thing and doesn't mean that bitcoin holders are closer to gambling.

Hispo

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I don't think you can fairly compare Bitcoin holding with an activity such as gambling, it is rather a off-context comparison.
On one hand, Bitcoin is very new, it was launched less than two decades ago, while gambling has been part of humanity since the beginning of civilization.

Also, your post implies that having Bitcoin or holding Bitcoin is close to gambling, when it is not true, depending whom you ask Bitcoin is either a currency, an asset or an investment, ect. While gambling will always be what it is, complete and explicit risk for the sake of profit, it goes beyond volatility.

Josefjix

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Quote from: Cling18 on July 21, 2023, 11:56:45 AM

We all know that most of us want challenges and thrill and it could be found in gambling. There are also people who are buying Bitcoin while gambling at the same time. It's just that some people usually want a fast result which they could find in gambling. Bitcoin is worth holding in the long run and while waiting for the bull season, most of us focus on gambling just to see good results while others seek entertainment on it and avail the bonuses and promotions that each casino is running.
However, Bitcoin isn't comparable to gambling since they both have different functions and risks. We can do both investing and gambling at the same time especially if we're smart enough to deal with all the risks.

Everyone is familiar with gambling, which has been around since the beginning of time. While bitcoin is gaining popularity, it cannot be compared to gambling, which has been around since the beginning of time. Other than gambling, which is unreliable and has a risky outcome, Bitcoin has remained the ultimate solid project with good earnings. Individuals tend to fall into the gambling category since it is very easy and seamless to put a wager on games, as opposed to trading, which might take a long time depending on the project road map.

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Quote from: rachael9385 on July 18, 2023, 08:57:29 AM

In the world to day gambling is leading instead of BitcoinBTC (crypto currency) and more are still wanting to join gambling because the minimum age to gamble is 18+ and lot of upcomings are waiting and this is the total amount of gamblers, so let's talk about the crypto currency (Bitcoin) we all know that Bitcoin is a good investment and it has changed a lot in the crypto world but the interesting part is that the numbers of Bitcoin investors can't be compared to gamble and my question is Why? or is the risk involved in Bitcoin higher than gambling risk?
Just chesk this source

Actually, if we reflect on the source you provided, of course there is a paragraph that says the difference between gambling and cryptocurrency so in this case there is no such thing as a comparison because things like this cannot be compared.
Gambling even though it deals with money but we all know the risk there is greater because it is only based on luck and some of us also realize when talking about gambling then in this case we will only see in terms of the pleasure aspect.
Unlike bitcoin which is indeed an investment asset and this is not based on luck because we also know that for bitcoin obviously we have a strategy and several different views related to better future progress.

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Quote from: swogerino on July 21, 2023, 09:50:56 AM

Quote from: rachael9385 on July 18, 2023, 08:57:29 AM

In the world to day gambling is leading instead of BitcoinBTC (crypto currency) and more are still wanting to join gambling because the minimum age to gamble is 18+ and lot of upcomings are waiting and this is the total amount of gamblers, so let's talk about the crypto currency (Bitcoin) we all know that Bitcoin is a good investment and it has changed a lot in the crypto world but the interesting part is that the numbers of Bitcoin investors can't be compared to gamble and my question is Why? or is the risk involved in Bitcoin higher than gambling risk?
Just chesk this source

That is because most people are not happy with just buying a certain amount of Bitcoin every month with money they can afford to do so as it does not give the person the adrenaline that gambling gives.This is of course wrong but that is how it is for the moment with people loving to gamble their money for more money and gambling is advertised a whole lot more than Bitcoin,streamers in different platforms inciting other users to try their luck by showing the huge wins there of x10.000 or more (which of course they have take a lot of time to achieve it) but viewers do not see this and as such they go and try their luck.This gives adrenaline and emotion in the beginning and it can become sadness and rage when you lose money yet people continue to gamble.

Of course it is much wiser to put the money you gamble in buying even the lowest amount of Bitcoin every week or month as this way you are preparing for the future but unfortunately very few people do this.

We all know that most of us want challenges and thrill and it could be found in gambling. There are also people who are buying Bitcoin while gambling at the same time. It's just that some people usually want a fast result which they could find in gambling. Bitcoin is worth holding in the long run and while waiting for the bull season, most of us focus on gambling just to see good results while others seek entertainment on it and avail the bonuses and promotions that each casino is running.
However, Bitcoin isn't comparable to gambling since they both have different functions and risks. We can do both investing and gambling at the same time especially if we're smart enough to deal with all the risks.

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Quote from: WatChe on July 19, 2023, 07:33:03 AM

Quote from: DanWalker on July 19, 2023, 05:55:20 AM

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.

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.

To me, Bitcoin or forex are just tools for us to use, and both can be considered gambling if we use them like gambling. I mean, if we enter trades or invest in them without any knowledge, it is no different than we are gambling. The line between gambling and investing is very thin and it all depends on how we use them.

You are right, each market has its pros and cons, it is not possible because we are investing in bitcoin that we can say spreading misinformation about another market. But many people become evil and always speak badly of what they think is not good for them or that they cannot make money from it. I am a bitcoin investor, but I like being realistic and fair.

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Quote from: rachael9385 on July 18, 2023, 08:57:29 AM

In the world to day gambling is leading instead of BitcoinBTC (crypto currency) and more are still wanting to join gambling because the minimum age to gamble is 18+ and lot of upcomings are waiting and this is the total amount of gamblers, so let's talk about the crypto currency (Bitcoin) we all know that Bitcoin is a good investment and it has changed a lot in the crypto world but the interesting part is that the numbers of Bitcoin investors can't be compared to gamble and my question is Why? or is the risk involved in Bitcoin higher than gambling risk?
Just chesk this source

That is because most people are not happy with just buying a certain amount of Bitcoin every month with money they can afford to do so as it does not give the person the adrenaline that gambling gives.This is of course wrong but that is how it is for the moment with people loving to gamble their money for more money and gambling is advertised a whole lot more than Bitcoin,streamers in different platforms inciting other users to try their luck by showing the huge wins there of x10.000 or more (which of course they have take a lot of time to achieve it) but viewers do not see this and as such they go and try their luck.This gives adrenaline and emotion in the beginning and it can become sadness and rage when you lose money yet people continue to gamble.

Of course it is much wiser to put the money you gamble in buying even the lowest amount of Bitcoin every week or month as this way you are preparing for the future but unfortunately very few people do this.

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Comparing Gambling and Bitcoin is like comparing Gambling to traditional assets such as Gold. Bitcoin is an asset where people invest, use them for various purposes such as paying for goods on the internet and so on. But Gambling is a form of entertainment where you can gamble and either win or lose. Gambling additionally has a lot more risks associated where the possibility of the casino favoring the house is higher than a gambler.

Gambling can be compared with trading of altcoins/shitcoins where you just throw a few bucks onto some memecoins and wait for them to pump or dump while the fundamentals are completely negligible and on top of that, you can make or lose a shit ton of money on both.

Quote from: ChiBitCTy on July 20, 2023, 06:20:08 PM

Sure buying bitcoin could be considered "gambling", but no different in the sense that buying a companies stock on the Nasdaq is gambling.

IMO buying memecoins can be considered as gambling as I have stated above since the very next day or week, they can go down significantly lower or higher. Bitcoin is slowly becoming a matured and low-volatile asset and the possibilities of Bitcoin never rising up to new ATHs are near to zero.

Nowadays, web3 companies are offering their worthless shitcoins in exchange for a stock in their company just like how SBF scammed the majority of the investors by creating FTT out of thin air Grin

Solosanz

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It's because people are greedy, they choose to gamble because the chance you would double your money is faster than you trade or invest in Bitcoin, although we're know in the end people are losing when they keep gambling for long time. But your question isn't make any sense as someone can use Bitcoin to gamble, if they're gamble using Bitcoin, isn't they already adopt Bitcoin too?

Topic: Why is Gamble gaining more fans than Bitcoin? - page 8. (Read 1343 times)