Bitcoin Forum

if you focus on the price of bitcoin, you are gambling.  calculate how much USDs you have in hand while you have bitcions in your wallet.

if you focus on the tech of bitcoin ,and hold bitcoin without exchange for more than half a year. then you are playing bitcoin.

that's right?

Not really, because bitcoin is already involved in trading fiats for a couple of years, and of course the demand will rise more if people will discover cryptocurrency.

No its not ,in the first place handling USD in on your hand doesnt make any profit even a cents ,USD and bitcoin is too deifferent from each other . Bitcoin technology is much better if you have into your wallet .its not gambling at all holding is the right word or saving it.
Even bitcoin without exchanges its actually not gambking at all .make it differentiate gambling is about risking and playing your money such as games .playing around price of bitcoins is not at all.

If you do this kind of trading for the day means day trading for quick profit then yes it is called gambling because you're investing just thinking that price may go up. But if you invest for a longer term then it is not called gambling because in the long term bitcoins demand may grow once many businesses start accepting it as payment and you will make a good profit.

good assessment mate if we treat bitcoin for a long term investment we are beleiving that the price will grow after the needs has been developed as we all believe that the more adoption coming from the user the better the price it can be for us so you are not gambling you are investing, but like what mate said if you are doing day trade then it is consider as gambling because you are leaning to your luck whether the price will go down or it will go up accordingly.

The same would be for holding euros by your reasoning.

Today a euro is worth 1.12 USD, tomorrow it may be 1.13 USD. Does that mean that you are gambling by holding euros? And that if you focus on the way fiat is distributed and maintained that you are playing fiat?

You are mistaking investing (although risky ones) with gambling.

Bitcoin is currency, many are not attracted to bitcoin because of its tech.
so what if i hold bitcoin for more than a year in my wallet and covert to fiat currency, would you say am playing with bitcoin. Nope i don't think the time period doesn't matter, at the end everyone want to spend money, some spend bitcoin and some will convert to fiat and spend.

I'll say that you are true, bitcoin's price is changing very quickly and when price is 600$ of one bitcoin and you buy it with this price, than gamble and after 4-5 month you win 0.2 bitcoin in gambling and now you have 1.2 bitcoin but now price is higher, it's 500$. So what to do? We win our bitcoins 1/5 in gambling but in reality we lost our first deposit's 1/5 and we havn't won anything. So it's not good currency for gambling or maybe bitcoin must be converted in usd in gabling websites and than when we withdraw, it also will be converted. If everything will be like this, than it would be glad.

Holding bitcoin for longer term can be considered as gambling in some way but not exactly gambling better to say long term trading. However i think buying and holding bitcoin for long term have very low risk of lossing rather than in gambling, as with constant increase in bitcoin demand and adoption price can certainly rise in future with supply limiting everyday.

what you are telling is correct but it is gambling as if the price of bitcoin goes down, then it is a loss for you, and about the future we cannot say if we go by technically then as per your calculation bitcoin mining will become more risky as the outcome will become less due to that price will rise that is true, but if any negative news comes to bitcoin that will also surely affect the bitcoin market.

I agree that you shouldn't always be driven by the price and actually value the benefits of BTC and the possibilities it gives everyone.Actually a large part of the people are in BTC because they see the benefits for payment it provides

You are not gambling with bitcoin if you hold it in your wallet for 6 months and then exchange it. More it's you are investing through bitcoin, you are thinking of it as a mean of investment as you maybe thinking it will raise in value in the longer run.

Investment is a bit like gambling as in every investment you risk to lose all of your capital but in this case it's always a good idea to wait and hold bitcoin unless you are seeing a big spike you want to take profit out of it.

It's similar to gambling but is not gambling.

I absolutely focus on the price of bitcoin, I am invested in it so obviously I'll check the price very often.

The difference between gambling and investment is the first being pure random, while the second is based on reasoning and investor's skill and experience play a major role in his success.

I understand very well your point of view but investing in any market including Bitcoin is also doing gamble. There is no guarantee how the market will react in coming days or weeks. It might be possible to see your holdings remaining same or loosing value. You need a base thing to give value to anything. Bitcoin is measured on dollar so everyone has own ways of dealing with these things.

 :)

playing means just focus on bitcoin  and it's tech.  and enjoy the logic of it

gamble and investment mean you care ,you lose or win .

Yeah it's something very true friend. But this will not actually detrimental to those that did get free way bitcoin, because it is one of the bitcoin gambling. but such innocuous bitcoin with gambling in General, this is only a similarity however does not have the same system

I don't think so. To gamble means to risk your coins. Looking at the charts and checking it frequently doesn't put your coins at risk. I don't see the connection of your idea with gambling. That's basically just waiting for the best time to sell your coins. It's technically called trading. If you missed selling at a high price, your Bitcoin would still be the same. If you have 1 BTC, you'd still have 1 BTC. Just wait for another time to sell your coins.

well i disagree, if i focus on the selling price and buying price its mean I am focusing on trading, not gambling and only by focusing but i dont do any action regarding to the coin its mean i am saving or i am investing, if my act cant cause my coin to decrease or increase then it cant be consider as gambling

uhmm...

Agree,  the word  gambling   means  you are risking your money to get money but  in OP's  situation hes  just  waiting  for the right time to buy bitcoin therefore its not gambling at all since  all you do is wait but    i would recommend that its better  to  risk your money at these days rather than waiting  because  you wont gain profit on just waiting.Price movements are  unpredictable.

I would name it trading . Gambling is something where luck matters and I don't think price of the bitcoin involves luck , its purely depends on the market ( People buying and selling ) so If you are holding bitcoins and you are focusing on the price of it , its more of trading .

But depending on people buy and sell involved luck, because you didn't know when other people will sell/buy their bitcoin. And if your unlucky, you might be loss if someone dumps after you buy your btc. Trading is actually gambling too if you look it in other perspective.  ;)

this doesn't make any sense!
i think you are one of those people who thinks trading bitcoin (looking at the price) is like gambling. but it is not. it is an investment and if you do it as a daily investor/trader then you are taking more risks and if you have the knowledge you can use the chances to make money : there is no gambling risk and win or lose here.

and you playing bitcoin doesn't make any sense either, if you use bitcoin then it is like fiat (USD) for you so if you are playing USD then you are playing bitcoin too.

Honestly not totally lose because you can be still holding your bitcoins for a long time and sell them in the right time to have a good profit.. people are losing in waiting for the price increase they cant wait for price increase back if the price is decrease in the present price..

its not for luck base you this is depends in your analysis and the price of bitcoin is depends in demand and supply.

the fact that you can't make sure when to buy or when to sell which is also known as speculating or analyzing the market doesn't make trade gambling but it makes it gambling only for you.

there are a lot of signs that you can follow to see what really is going on and yes there is always a chance of losing money and be wrong about your analysis but that is only because you can not predict unpredictable incidents like the bitfinex hack which caused a downfall. but you can use these too. for example in that particular situation you could have sold fast before the bigger drop and bought 100$ lower than the current price.

so you see it is not at all like gambling.

it is always good to know more. So monitoring on the price of btc is also a good thing. Similarly, even if we need to use btc for transaction, we also need to focus on the price of bitcoin to buy more or less.

i think your wording of your comment in OP could be a lot better. for example you could have said if you are expecting bitcoin price to go to the moon and make you become rich then you are gambling.

but it is not true that if you are watching the price or investing in bitcoin and think it can go up in reasonable amounts you are gambling.

No matter what OP is focusing on the price or tech for bitcoin, it is considered gambling as you are taking a risk to bet that the value of bitcoin will rise. To me, you are gambling when you buy a stock, a foreign currency or invest in anything. However, you can increase your chance of winning if you research before buying.

thats the advantage knowing the possibility of your position can say that you are just helping the stock to grow and be ripe after that harvest will come and earnings for you is for sure so its not gambling its pure investment that waiting for your commission in return just for my opinion though.