Is bitcoin a form of gambling?

[melvster]

In traditional slots you pay a coin, and if a certain sequence comes up, you get some winnings.  I think everyone will agree that's a form of gambling.

In bitcoin, to create coins, you pay some electricity, and if a sequence of 0's comes up, you win some bitcoins.

Is this aspect a form of gambling?

And if so, is that illegal in the U.S.?

[solex]

No bet means no gamble.

When mining bitcoins there is no bet or stake. Instead, a mathematical problem is solved and this earns a monetary reward.

[Kazimir]

It's not gambling because you can simply calculate the outcome yourself. There is no chance or gambling or betting or luck factor involved whatsoever. Completely different from slot machines in casinos.

But it's the actual calculation you're paying electricity for.

And what is legal or illegal in the U.S. doesn't matter, because Bitcoin is not related to the U.S. in any way. It would be just as relevant as asking if it's illegal in Iran or North Korea. It might be, but nobody cares

[nbartlett]

You "pay" some effort to dig in the ground. If a nugget of gold comes up, you win that gold. Therefore, mining is illegal in the US.

... and nobody gives a damn ;-)

[Gabi]

Yes it is illegal, sure 

[BitAddict]

This is 100% gambling ATM.

But if you invest is always gambling... more or less, but gambling.

[Eastwind]

It depends on the definition of gambling. The outcome of mining bitcoin is definite in long term.

[franky1]

In traditional slots you pay a coin, and if a certain sequence comes up, you get some winnings.  I think everyone will agree that's a form of gambling.

In bitcoin, to create coins, you pay some electricity, and if a sequence of 0's comes up, you win some bitcoins.

Is this aspect a form of gambling?

And if so, is that illegal in the U.S.?

just like FIAT

if you work in a factory and have a set target of products to create, if you reach the magic number you see a nice jackpot on your wage slip. if you dont reach the magic number, expect to work saturdays.

then you go to buy car fuel and try searching for the best place to get the best price fuel. gambling you get to the cheapest fuel station in your town before the car's fuel tank empties.

now your car is fuelled up, do you gamble going home to your wife who may or may not be sat there waiting to trade you your wage slip for the household bills. or do you gamble spending the wages on a few pints in a bar.

everything is a gamble these days

[Rannasha]

Mining is gambling in a way. Computing a hash is not so different from drawing a random number and the whole idea behind mining is to keep computing hashes until you hit a result with the right properties. This is essentially a luck-based process. Electricity is your bet, a block is the prize.

As with all random processes, the larger the sample size is, the smaller the relative variance. So a large pool mining together has a lower variance in its block-finding-rate than a solo miner with a small rig. But even a large pool that hits several blocks per day on average can hit a dry spell and not find any for days or go on a lucky streak and find multiple blocks in one hour.

[nameface]

"Gambling is the wagering of money or something of material value (referred to as "the stakes") on an event with an uncertain outcome with the primary intent of winning additional money and/or material goods. Gambling thus requires three elements be present: consideration, chance and prize." - wikipedia

Paying 10k for an ASIC and solo mining = gambling. The purchase of equipment and electricity is "the stakes", and mining a block is the intended uncertain outcome.
However, the use of mining pools removes the element of chance. Gaining a steady income from supporting a payment network =/= gambling.

[Bitware]

In traditional slots you pay a coin, and if a certain sequence comes up, you get some winnings.  I think everyone will agree that's a form of gambling.

In bitcoin, to create coins, you pay some electricity, and if a sequence of 0's comes up, you win some bitcoins.

Is this aspect a form of gambling?

And if so, is that illegal in the U.S.?

Ask the same question on Wall Street.

[Svennisen]

Name any investment that isn't a form of gambling? Will you ever be 100% sure that you will get your invested money back?



Allright, there exists some government bonds, but they don't really count

[johnyj]

In traditional slots you pay a coin, and if a certain sequence comes up, you get some winnings.  I think everyone will agree that's a form of gambling.

In bitcoin, to create coins, you pay some electricity, and if a sequence of 0's comes up, you win some bitcoins.

Is this aspect a form of gambling?

And if so, is that illegal in the U.S.?

No, if you repeat the process in gambling, what you put in will be less than what you get out in the long run, that's the reason gambling is regarded as a non-productive activity and is prohibited in some country

But bitcoin's payout is constant, if you decide wisely, what you mined out usually value more than what you put in, the common sense is 3 month's ROI

[doom309]

bitcoin is not gambling, its highly speculative investment at present, if you take some of your bitcoins and bet on the horses or dogs on one of the bitcoin betting sites, thats gambling - but so what

its usually as simple as this, if govts dont tax it, or dont seek to tax it (or look like they might want to try and tax it), then its gambling, because govts think gamblers are stupid and lose more than they ever win

if govts do tax it, or want to or try to etc, its not gambling, they see it as investment income, business income, capital gain etc, and want their slice of the pie when it comes out the oven !!

[Bitware]

bitcoin is not gambling, its highly speculative investment at present

Those are the same things. Investments can go down and even to zero. You realize that dont you? That's why everyone says its a gamble, because its gambling.

Question is the odds.

[raze]

If so, then you'd better turn off your PC right now, those calculations it's doing could have the authorities come knocking.

Also, make sure you don't go outside, it's dangerous out there, and you're betting your life that something bad won't happen. On that note, try not to eat anything as it might be harbouring dangerous bacteria which could kill you.

[angelafairie]

It is not just gambling. It has more strategy involved in it, just like other currency exchange or stock market.

[Kluge]

if you work in a factory and have a set target of products to create, if you reach the magic number you see a nice jackpot on your wage slip. if you dont reach the magic number, expect to work saturdays.

You have it backwards.  Workers are generally paid the same per hour whether they're productive or not. If they fail, they get overtime on Saturdays and double-time on Sundays. Factory management gets around the inherent moral hazard of that scheme by having employees work upward of 70 hours on the average week and providing the legal minimum of days off, where employees'd do just about anything to get out of working weekends without needing to pay what's deserved, because the employees literally feel they're being paid by not being paid.

@ OP, if mining is gambling, electricity providers are most culpable, since they are effectively the provider of plays in the mathematical lottery. They take the money, and if the player wins, he continues buying more plays until he busts (or cashes out). If you're actually looking for a serious answer, there are plenty of legal resources for any country over a few dozen citizens in size. Mining isn't gambling in the US, for example, which could be found with about 5 minutes on Google. Well... unless you can't get a dozen tax lawyers to agree on how to file taxes as a miner, but I'm sure every Bitcoin miner has spent thousands to figure out how to report hundreds a year in temporary income.

[luv2drnkbr]

Everything is a gamble.  When you go drive somewhere, you take the risk of being struck and dying, but the payoff of going out and accomplishing your task is high enough, that combined with the very low probability of death, you view the gamble as worth while.  All life is analyzing risk and reward, and that is all that gambling is.

[CanadianGuy]

by holding onto fiat currency, you are gambling as well.  It could go up or down.

[ashaw596]

It's a gambling, the same way investing on the stockmarket, starting your own business, or doing anything in life is a gamble.

[CanadianGuy]

It's a gambling, the same way investing on the stockmarket, starting your own business, or doing anything in life is a gamble.

As well as crossing the street. 

[johnyj]

At a higher abstraction level, even if you don't gamble, that decision itself is gambling, since you are betting that you will get better result when you are not gambling, and that decision is not always true Holding fiat in a cyprus bank account is such an example

Gambling normaly shifts value between players, no new value will be created, but in bitcoin every day new values are generated, both coins and services

[owsleybeatsbigcartel]

In traditional slots you pay a coin, and if a certain sequence comes up, you get some winnings.  I think everyone will agree that's a form of gambling.

In bitcoin, to create coins, you pay some electricity, and if a sequence of 0's comes up, you win some bitcoins.

Is this aspect a form of gambling?

And if so, is that illegal in the U.S.?

no it's problem solving ~ gambling with nu-coins thats a diff story!~imho

[owsleybeatsbigcartel]

It's not gambling because you can simply calculate the outcome yourself. There is no chance or gambling or betting or luck factor involved whatsoever. Completely different from slot machines in casinos.

But it's the actual calculation you're paying electricity for.

And what is legal or illegal in the U.S. doesn't matter, because Bitcoin is not related to the U.S. in any way. It would be just as relevant as asking if it's illegal in Iran or North Korea. It might be, but nobody cares

lets give ALL the crytos to OPEC ...no? hehe

[b!z]

No bet means no gamble.

When mining bitcoins there is no bet or stake. Instead, a mathematical problem is solved and this earns a monetary reward.

Isn't the bet your electricity?

but i don't think mining is gambling

[rudrigorc2]

mining is a lottery, but a fair one.

[BitAddict]

by holding onto fiat currency, you are gambling as well.  It could go up or down.

Not really... is worse, always goes down

[Luciddd]

Isn't life a form of gambling?

[nottm28]

yep - I reckon it's a gamble

[Trongersoll]

is bitcoin gambling? not in the traditional sense, but for many, it is kind of a game. It is a competition to get a bigger piece of the pie. Many are looking for an angle. Today i was on TI.com trying to decide if DSPs might have a chance. I decided not. This has been going on long enough that just about everything has been tried, looked at. But, we all like to think that we might come up with something different that works. Who knows, someone might. So we all keep trying, we keep mining, turning a blind eye to the inevitable.

[hakis1010]

I guess buying gold is consider as gambling as well?

[wireless1889]

I think Bitcoin is not gambling at all because investing bitcoin can be foreseen and can be predicted on what will happen next on how the value and price of Bitcoin behaves as years pass by. In gambling you get 50-50 percent chance of getting outcomes that means you will either lose or win. In investing into Bitcoin you just need the right actions to gain profit, You lose profit or you gain profit, In gambling you lose it all. In bitcoin investing your money just go down but you don't lose it all.

[Corcoran]

I do not see in bitcoin is a gambling place. Because I think bitcoin is a place where people can do business

[paulo29]

Bitcoin as a form of gambling, well at some points i would consider it as a gambling since there is a risk factor involve simply because bitcoin is very volatile and the price is undetermined and nobody knows when the price will increase or decrease, so in the essence of gambling definition it is indeed a gambling process.  As to bitcoin is illegal, well since it is decentralized,who cares to tell that this is legal or illegal, since no government policies governing on it. For as long as you did not do anything or using the bitcoin for illegal purpose then you are not violating laws that makes it illegal then it is ok.

[ambisyon]

I don't consider that bitcoin is a form of gambling and for me it is an investment where you are hopeful to earn profit from it. I also believe that it depends on how people would interpret when they put investment with bitcoin because of the risk involve which others are looking it as gambling since it's either you can earn profit or lose it. However, I am seeing much more on bitcoin to earn profit than losing your investment and this involves on how one's handle the situation.

[bcni]

It's a gambling, the same way investing on the stockmarket, starting your own business, or doing anything in life is a gamble.

Most large bitcoin participants admitted that Bitcoin is a bubble, but they also believe that they can leave before the crash because they have already fulfilled the money far beyond their input. Regardless of the number of Bitcoin, or Bitcoin's underlying technology blockchain, Bitcoin's skyrocketing growth is a gamble!

[Moneypham5]

The price of bitcoin is determined by the supply and demand from time to time. As the number of people interested in bitcoin in particular and other bitcoins in general increased, so prices increased rapidly, fluctuations with large amplitude attracted more and more people to try luck in the fever. But this is also the land of greed for organizations and individuals to form fraudulent activities. Due to high demand, this is more like a form of speculation than gambling.

[dhoon5]

Bitcoin is not gambling. Bitcoin is a kind of digital currency investment. With the development of digital currency, Bitcoin investment will be more valuable. Therefore, bitcoin investment is an era-based monetary financial investment.

[mix max]

I didn't see it as a form of gambling, yet it is a high risk investment prediction. It can be calculated and there are fundamental and technical analysis, gambling you rely on your luck.

[bajingluncat]

if we are gambling on something to gain profit is called gambling then btc is part of modern gambling, but I am not sure it is because in btc there is a definite rule of thumb which can be used as a reference not just relying on luck even if there is a loss just think it's part of the business, every profits there must be losses that become reaikonya, but I hope you see the absolute btc as part of the investment so that all countries in this world can accept btc as a legal business, so btc have a bright future

[nguyenvanchuong]

In my opinion, I bitcoin is money. Trading floors are like stock exchanges. And here the wise will earn the money. Unlike gambling, the lucky people will earn money.
Bitcoin is not a form of gambling.

[leland orser]

If you don't know the bitcoin and blockchain, so you might be a simple encryption currency as their investment is a gamble, but it is a way of investment in the future, I am very bullish on cryptocurrency market in the future.

[Matimtim]

For me yes, bitcoin is part of gambling because if you want  to invest in bitcoin you need to take the risk that is why is like a gambling because we need to take the risk to earn money.

[Synaesthesia]

i do not think that investing in Bitcoin is a kind of gambling. Because Bitcoin has own value, it can be used for payment, international transactions or storing asset. as you can see, Gold is just kind of metal but people like it and it has value. So, Bitcoin likes Gold too.

[russella31]

I think in some way bitcoin is a gambling. There is no assurance that you will always get profit. Especially when you invest in the wrong project. One should be wary enough in  where he invests his money.

[erickkyut]

In traditional slots you pay a coin, and if a certain sequence comes up, you get some winnings.  I think everyone will agree that's a form of gambling.

In bitcoin, to create coins, you pay some electricity, and if a sequence of 0's comes up, you win some bitcoins.

Is this aspect a form of gambling?

And if so, is that illegal in the U.S.?

Nope! Definitely, Bitcoin is not a form of gambling. It is a store of value with some characteristics of currency. Gambling has more risks and lots of odds. Bitcoin is something more valuable than the coins or chips that you can buy in the casino.

[yangxianzhi]

Whether or not gambling depends on how you operate it, and what is your definition of gambling? Do you think that buying a lottery ticket is gambling? The definition is not the same, but the conclusion that comes out naturally is not the same.

[CongHoan]

invest without thinking is gambling

[CAPT.DEADPOOL]

I do not think that if you want to read bitcoin updates to alert you if you're buying a bitcoin if it drops the price so it's better to join group chats

[abaidudez]

In traditional slots you pay a coin, and if a certain sequence comes up, you get some winnings.  I think everyone will agree that's a form of gambling.

In bitcoin, to create coins, you pay some electricity, and if a sequence of 0's comes up, you win some bitcoins.

Is this aspect a form of gambling?

And if so, is that illegal in the U.S.?

I think it's like that. Gambling because you need to risk if you invest. Risking money because you don't know how it will end, if it drop then you lose and if rise up then you won. That's the same thing as gambling. The similarity is obvious gain or profit and lose or bust. But the difference is the result lies on many different people respond. Gambling can be manipulated but I guess Bitcoin price is not. 

[rosepetals]

In traditional slots you pay a coin, and if a certain sequence comes up, you get some winnings.  I think everyone will agree that's a form of gambling.

In bitcoin, to create coins, you pay some electricity, and if a sequence of 0's comes up, you win some bitcoins.

Is this aspect a form of gambling?

And if so, is that illegal in the U.S.?

Investing is much more like a gamble ,if you buy bitcoin in its peak like those times that it had reached to $18k  and will be invested inorder to gain profit but the price begun to fall to $10k then its a big loss for the investor.Investing on crypto with less knowledge will result to bankruptcy.Trading also is like a gamble for me because if you trade in an entrusted exchanger might result to loss of  tokens or coins.Instead of looking to profit might result to leave you with nothing.In my opinion everything in this world is a gamble,one must need to be a good player inorder to win.

[Athenakim.22]

Gambling is by definition is a game of chance. You have very little if any control over the outcome. Such is the case with most investing and Bitcoin is no exception. Sure you can buy & hold Bitcoin for the long term and hope it’s value will increase over time or you can trade Bitcoin and profit on it’s movement up or down. On the other hand you can plug into an unique system that will pay you 2.2% daily on your Bitcoin and double your Bitcoin in 90 days or less on complete autopilot.

[Prameda Mendis]

According to my view point it depends on the way people use bitcoin for their activities. I know some people that use bitcoin to their illegal activities. But who can blame them!!! It is on of a best payment method. Anyone cannot identity the man face behind the bitcoin address. So it depends. But their are some golden opportunities with BTC!!!

[eert]

You can think of investing Bitcoin as gambling. Time and money are your bets. Of course, not all people think of Bitcoin as gambling. I think your question is a false one, but nobody cares. Good luck

[Reena28]

True investing is not the same as gambling..

Buying and selling cryptocurrency is basically a new 21st century way of investing. It's like buying and selling currency, except Bitcoin is s digital currency that has no central authority...

[normensky012]

Mining bitcoin isn't gambling. It's a business. If you have the right business model for building a bitcoin mining facility then you'll gonna consider economic factors like cost of electricity, cost of equipment, maintenance, and financial strategy. If you think this economic factor doesn't suit on building a mining facility then don' enter a bitcoin mining business. After all, gambling is a game of chance, a business may be viewed as gambling for others. But if you think business is gambling then you'll also set up your mind that it's a 50/50 game. Why not build a business that accepts bitcoin or build a gambling business that accepts bitcoin? In this way, you are using the very purpose of bitcoin, which is the transfer of value.

[pushups44]

Investing is not the same as gambling, as gambling requires a "game of chance." Informally, people may refer to risky investments as gambling, though. People who simply throw money into bitcoin without doing their own research are doing something very similar to gambling, since they are not applying skill.

[labilaab]

In my own opinion, I can consider bitcoin as a form of gambling already if you buy and invest to it. Since it’s a digital currency and very volatile theres a big risk of losing your invested money so its really same like gambling. We try to bet our money to a certain asset that is risky and we have no assurance to profit from it or even manage to take our capital at least.
Well I’m not from US so I cant tell wether that kind of bitcoin transaction is legal there.But investing really in cryptocurrency is very same like gambling for me.But Im hoping that bitcoin and other cryptocurrency will be same of value or importance just like the fiat currencies in the near future.  That same thing like we have now with theres some form of cash card; may be there some cryptocurrency card also to be swipe-ready anytime we want money.

[Shutup]

In traditional slots you pay a coin, and if a certain sequence comes up, you get some winnings.  I think everyone will agree that's a form of gambling.

In bitcoin, to create coins, you pay some electricity, and if a sequence of 0's comes up, you win some bitcoins.

Is this aspect a form of gambling?

And if so, is that illegal in the U.S.?

I say yes bitcoin is a part of gambling because it's etheir you succeed or failed.Investors and traders are betting their capital whether they profit or lose. Because if they profit during expensive price they will have a very big amount to profit because it will multiply to 10times or more.

[pecson134]

In traditional slots you pay a coin, and if a certain sequence comes up, you get some winnings.  I think everyone will agree that's a form of gambling.

In bitcoin, to create coins, you pay some electricity, and if a sequence of 0's comes up, you win some bitcoins.

Is this aspect a form of gambling?

And if so, is that illegal in the U.S.?

I can't say that bitcoins is 100% free of gambling essence but only with a bit. Just like in tradings and investment, you can't earn something on these kind of business unless you gamble some of your money though in a form bitcoins. Though one can say that it can be research how the flow of these things, it may still deviate on what you are really expecting to happen so it may also lead to loss. Winning and losing situation are already active in this kind of industry.

[ctrlaltdeluge]

Gambling in Bitcoin actually is all illegal because the goverments never let any companies or organization to do that. Bitcoin Gambling still alive because they haven't touch it yet.

[jepoyr1]

yeah but no a literal gambling, of course you gamble your time you risk your attention you priority you cant get anything without risking some decision although  some government they said they never let touch it also some country btc is illegal.

[santosummer]

I think this matter depends on the perspective of the investor. If they think bitcoin is a job and the type of investment is really potential. They need to explore the crypto market and bitcoin. Be aware of the tactics to create effective business. and vice versa, it will be a game of gambling, risk and loss is predicted.

[tonmoycrypto]

For what reason you think it is gambling i dont know it  but i told you it depends on individual investor perspective . i chose btc as a asset like another way to make my money double. crypto market ups and down always but btc price always unpredictable.

[Missterio]

In bitcoin there is no slot. If you came here only for the sake of profit, then the technology of blockchain itself has a completely different meaning and benefit for people.

[bitcad4u]

Bitcoin invesment is an ATM.You can inverse in bitcoin and when the price of bitcoin had increase to certain value higher than invested money.You will get more from it.You can withdraw any amount of dollars from the bitcoin as you get from the ATM.That what I had said,bitcoin is an ATM.

[SamuelSL]

I don't think so, btc is different with gambling. Btc is as same as a business, you buy btc and you can sell that. if gambling is not buy anything, but you just guess something as number or others.

[Adioliver]

In traditional slots you pay a coin, and if a certain sequence comes up, you get some winnings.  I think everyone will agree that's a form of gambling.

In bitcoin, to create coins, you pay some electricity, and if a sequence of 0's comes up, you win some bitcoins.

Is this aspect a form of gambling?

And if so, is that illegal in the U.S.?

If we speak about mining I don't think that it's a kind of gambling because there are mathematical calculations involved which determines how much BTC you can generate through mining.And if we speak about holding then we can call it gambling because one never knows when the value of bitcoin rises or falls.Its totally unpredictable.Lucky are those who invested in bitcoins at its initial stages.They are the ultimate winners of this gambling game of holding.

[djsugar]

A gamble is something where you do not know what the outcome would be. You are playing literally on your luck, with no calculations involved whatsoever. Mining, on the other hand, makes you go through a series of problems which you have to solve, and once you solve them correctly, you are able to mine a coin. So, they are two different terms.
On the other hand, if you talk about speculation and trading, then even that doesn't come under gambling. You study the market, follow the news surrounding it and then you make your decision of investing in the right coin. Once you make an educated guess, chances are high that you would get good returns out of it.
So I would say that No, bitcoin is not a form of gambling.

[Amelial]

BTC is not gambling, bcos we buy coin from btc, and can sell when the price is uprise, so we can get profit, this is as same as business. But we just guess something when we gambling  

[Tiernadi]

In traditional slots you pay a coin, and if a certain sequence comes up, you get some winnings.  I think everyone will agree that's a form of gambling.

In bitcoin, to create coins, you pay some electricity, and if a sequence of 0's comes up, you win some bitcoins.

Is this aspect a form of gambling?

And if so, is that illegal in the U.S.?

It's directly depends on what is your attitude toward trading process. Trading without any analysis is a pure gambling, however if you'll use your brains and own trading strategy, you'll see that trading have nothing to do with gambling  

[godrey123]

according to wikipedia Gambling is the wagering of money or something of value (referred to as "the stakes") on an event with an uncertain outcome with the primary intent of winning money or material goods. Gambling thus requires three elements be present: consideration, chance and prize. with that I thibk we can condider trading as a form of gambling

[Jimbo Abu]

If you use your bitcoin for gambling, yes, this is called a gambling. This is what holders want to do in their coin. But in other point, bitcoin is not a gambling. We get a bitcoin through work, and not for winning.

[fuer44]

yes, this is similar to gambling and I think all trading is gambling. we buy bitcoin and then we enter in the betting market, whether the price will decrease or increase. if the price rises, then we will win and if the price falls then we will lose.

[Klintiv]

any investment is a form of gambling. this is not a casino. is the game on the exchange.

[Morgann]

for me yes it is because in this investment thing you can earn profit and you can lose too. bitcoin price is flactuating fast thats why it can be a gambling for me.

[CryptoMoar]

I do not think it's a form of gambling. because I bought some bitcoin and altcoin for investment and trade. and all activities that I work without any harmed and according to the rules. so depending on the user bitcoin itself, would be used for anything and in a good way or not.

[gwapoinside2]

I think for me bitcoin is not a gambling because, i buy bitcoin and trade to other'smy market so my money will grow.a,

[marjil]

Some people say it is like gambling but only because you can lose money. But equally you can make money, as we have seen in the last few years where the price of bitcoin has soared. Like with most things you take a gamble in the hope of winning not losing but you are never sure of what will happen.

[soul-impact]

I think bitcoin is not gambling. Bitcoin is a digital currency. The value of bitcoin depends on the number of people who buy and sell bitcoins. If bitcoin is gambling, I think there will be a lot of people going bankrupt.

[zwiggel]

incorrect. Bitcoin is not a form of gambling. Bitcoin is a digital currency. bitcoin operates independently it pays directly between two parties. I just heard there was a bitcoin billionaire and nobody broke down when investing in bitcoin. So if you invest strategically in bitcoin then you will succeed. So bitcoin is not gambling.

[anzhanbei1214068]

BTC is not a gamble. When people are mining bitcoin, they spend a lot of money to buy machines and pay high electricity bills, so they have access to bitcoin. This is an investment.

Of course investment is risky, but it is not a gamble.

[Bugatti73]

I thinks that its not true becouse many people invest in it a lot of money and in my opiniont , they know what they are doing!

[syamster]

I thinks that its not true becouse many people invest in it a lot of money and in my opiniont , they know what they are doing!

Yes everybody knows what they are doing and how they are going with it, people invest in bitcoin they save their money and they get fasting about bitcoin, it is not good to be over confident about your investment and it will not very bad too, at the very first try to choose bitcoin for your money making and it should be choose for investment after that when you will be experienced then you can get to the gambling, or any other way to use bitcoin.

[tylerderden]

In traditional slots you pay a coin, and if a certain sequence comes up, you get some winnings.  I think everyone will agree that's a form of gambling.

In bitcoin, to create coins, you pay some electricity, and if a sequence of 0's comes up, you win some bitcoins.

Is this aspect a form of gambling?

And if so, is that illegal in the U.S.?

You are saying that you go to work daily and there you work your ass out and hope your boss likes your work and is he does like it then you get a bonus or a promotion, so it's also a form of gambling and you may be doing some illegal work, if I were you then I would stop working right now, I respect my freedom more than anything bro.
No bitcoin isn't gambling at all, it's completely legal all you have to do is stop being negative about it and look towards its positive aspects and I'm sure you will also like it.

[Portia12]

In traditional slots you pay a coin, and if a certain sequence comes up, you get some winnings.  I think everyone will agree that's a form of gambling.

In bitcoin, to create coins, you pay some electricity, and if a sequence of 0's comes up, you win some bitcoins.

Is this aspect a form of gambling?

And if so, is that illegal in the U.S.?

They think of it as a gambling because of the risk. But looking deeper unto this there are lot of opportunities in bitcoin than betting on a casino. It is more comparable into stock market wherein you need to buy stocks to have serious investment.

[jostorres]

Gambling in Bitcoin actually is all illegal because the goverments never let any companies or organization to do that. Bitcoin Gambling still alive because they haven't touch it yet.

Gambling is quite a different thing and that there is nothing as such which is common in between bitcoin and gambling. In gambling, it is all and all your luck which either makes you earn money or lose money and that there is no such technique or knowledge which can help you in doing that.

Bitcoin on the other hand is a crypto currency and that it is one of the best ways of making money but for that you need to learn about it.

[shezu007]

Indeed everyone realizes what they are doing and how they are running with it, individuals put resources into bitcoin they spare their cash and they get fasting about bitcoin, it does not regard be presumptuous about your venture and it won't terrible as well, at the principal attempt to pick bitcoin for your cash making and it ought to be decide for speculation after that when you will be experienced then you can get to the betting, or some other method to utilize bitcoin.

[Mlowo]

no, bitcoin is not the same as gambling, here we work and also try, what about samain by gambling, people wrong if bitcoin is considered gamble.

[Jas18]

no, bitcoin is not the same as gambling, here we work and also try, what about samain by gambling, people wrong if bitcoin is considered gamble.

Well i think all investment is a risk and i could say that it is also gambling. Because, in the first place you dont know what will happen to your investment, its either you can gain profit or you may lose it. Its just like that, as an investor you should be able to know what you are investing for and you should accept whatever happens, may it be positive or even negative.

[Cadalin320]

well, holding bitcoin,buying bitcoin you are already in a gamble, you may win to gain a high profit if the price will go up or you will lose if its price continue to go down. just like gambling in casino,bitcoin is risky.

[thya1]

Because it is illegal is clear yes

[weston4mills]

I don't see bitcoin as gambling because it is not. Investing in bitcoin can be predicted and you just need the right actions to gain profit.

[ice098]

no, bitcoin is not the same as gambling, here we work and also try, what about samain by gambling, people wrong if bitcoin is considered gamble.

Well i think all investment is a risk and i could say that it is also gambling. Because, in the first place you dont know what will happen to your investment, its either you can gain profit or you may lose it. Its just like that, as an investor you should be able to know what you are investing for and you should accept whatever happens, may it be positive or even negative.

For me, yes, bitcoin is gambling. We do all know that when we invest on something, we're gambling because we dont know what will happen on our investment, it may be success or it may be fail. All we can do is to learn first on the thing that we want to invest, because if we know about it, we have a higher chance to success on it. Patience is what we need because sucess takes time and effort.

[kimmy724]

In life there is always a risk and it is synonymous to gambling. It can make or break things and we should be prepared what would be the outcome . Move on if things don't go right so chill and get thrill with the ride.

[proTECH77]

In the context of gambling, I don't see bitcoin as such. But the act behind it can be seen as gambling, because you investing in bitcoin and not being able to predict the outcome, means you're taking a kind of risk that could be seen as gambling.

[NewCryptocasinos]

In traditional slots you pay a coin, and if a certain sequence comes up, you get some winnings.  I think everyone will agree that's a form of gambling.

In bitcoin, to create coins, you pay some electricity, and if a sequence of 0's comes up, you win some bitcoins.

Is this aspect a form of gambling?

And if so, is that illegal in the U.S.?

No, to invest in Bitcoin is not gambling, however its an investment, and you can never be 100% sure if you will get profitable or loose money.

[Rena5]

"Is bitcoin a form of gambling?"..I think depending on the individual bitcoin users point of view.Some say yes it is while others saying it is not.Their definition of gambling deals with many pictures of how it is done particularly in money involved.Bitcoin is a blockchain technology and decentralized which offers great income to all users.No investment no income in bitcoin which means winning or losing.Similar to gambling trying your luck by betting hoping to win or loss.

[CAPT.DEADPOOL]

bitcoin is not a gamble if you only know how to buy cheap and hold it and sales when bitcoin is so expensive for your profit in buying cheap and selling expensive people also update you bitcoin so you know how much you sell and you bitcoin if the price drops

[supandi wiharja]

I don't think that bitcoin is a form of gambling, bitcoin is a wonderful opportunity for someone earning income and getting rich.
Until now many people have felt that their finances are getting better after they adopt and engage in bitcoin.
if you think that bitcoin is a form of gambling, then I suggest you to report the existence of bitcoin to the authorities for immediate action.

[Astvile]

In terms of somewhat risking your money yeah it is a form of gambling,infact all of investments you do in online or on real world as long as it takes risk is all gamble,starting a business its a gamble if youre not sure on what can be the outcome of it.

[Zabrielle]

It is somewhat like that. Because you know what when you invest you are not quiet sure that things will work out. Anyhow business is like that. You have to gamble inorder to gain and and sometimes lose.

[Luce09]

Yes, you can lose and you can win, predict how the market will behave impossible, you rely on luck as in other gambling games.

[DoublerHunter]

It is a form of gambling if you don't know what you are doing then that is when you will be involved in gambling because bitcoin is such a very risky type of investment and it needs a good amount of knowledge so you will be aware of the possible scenarios that might happen because of the risk but if you have knowledge already then it is not a gambling but a pure good investment.

[tuikindu]

I think bitcoin is an investment, and it is not entirely true that it is a gamble.

Because you can buy it at a low price. Sell at a high price so you can only make a profit. If the price of bitcoin never goes up, you can wait a year or two, and the market is always volatile.

And gambling is win-lose, you can make money, you can lose money.

[asdnguyenthanhtin]

It is true that at the time of this posting, it really was a big gamble. Currently I think it is turning into speculation

[baby25]

in my opinion bitcoin is not a form of gambling but when you use it for bad then it cause gambling

[Adamant06]

It is true that at the time of this posting, it really was a big gamble. Currently I think it is turning into speculation

Bitcoin itself is not a gamble, in my ipinion if you invest on it, that will become a gamble. And also, I think you can call it gambling depends on how it use for. However, trading bitcoin is definitely gambling, but no more so than trading stocks or any other type of speculation.

[giogio0504]

It is not form of gambling it might be used as the way of payment in casino, but bitcoin itself is not the gambling at all.

[IamAltcoinfan]

Interesting yes it looks like even i thought about bitcoin is similar to torrent . Even i was explaining about peer to peer network people were comparing with torrent . Now one more concept added for me to explain people in normal terms . Bitcoin including lots of concept apart from this but this kind of explanation will make easy to understand people.

[godwyn50]

Gambling is the wagering of money or something of value (referred to as "the stakes") on an event with an uncertain outcome with the primary intent of winning money or material goods. Gambling thus requires three elements be present: consideration, chance and prize.The outcome of the wager is often immediate, such as a single roll of dice, a spin of a roulette wheel, or a horse crossing the finish line, but longer time frames are also common, allowing wagers on the outcome of a future sports contest or even an entire sports season.

[malbterxic]

I understand the question is connected with the extraction of bitcoins? I think that this has nothing to do with gambling.
Here is the trade on the exchange it's a gamble.
But if I judge from the point of view of the laws, then I think, that bitcoin to gambling can not be attributed.

[spacelab]

It depends on how do you consider the meaning of that and how do you use it 

[simonova]

It is risky but you cannot compare it with gambling. Especially, the people who are investing in bitcoins now. Those who invested at earlier stage kind of gambled only as there was no history regarding bitcoins. They took maximum risk and were rewarded accordingly.

[david tex]

Bitcoin is not a game of gambling, it has applications and people with good knowledge understand it works and know its value

[Phyton76]

In traditional slots you pay a coin, and if a certain sequence comes up, you get some winnings.  I think everyone will agree that's a form of gambling.

In bitcoin, to create coins, you pay some electricity, and if a sequence of 0's comes up, you win some bitcoins.

Is this aspect a form of gambling?

And if so, is that illegal in the U.S.?

For me,bitcoin is not a form of gambling because bitcoin is a investment.It depends to the user if he/she will make bitcoin as a gambling or investment.It depends on the perspective of the user.So that bitcoin will not be a form of gambling.

[rudito]

In traditional slots you pay a coin, and if a certain sequence comes up, you get some winnings.  I think everyone will agree that's a form of gambling.

In bitcoin, to create coins, you pay some electricity, and if a sequence of 0's comes up, you win some bitcoins.

Is this aspect a form of gambling?

And if so, is that illegal in the U.S.?

Bitcoin is a crypto currency and not gambling, it depends on the person who uses it, and fiat money can also be used for gambling.

[bololord]

In traditional slots you pay a coin, and if a certain sequence comes up, you get some winnings.  I think everyone will agree that's a form of gambling.

In bitcoin, to create coins, you pay some electricity, and if a sequence of 0's comes up, you win some bitcoins.

Is this aspect a form of gambling?

And if so, is that illegal in the U.S.?

No it's not it's all about taking the risk of buying and selling here , buy when the price is low then sell when it's high. take the risk then you will be rewarded . the money that you've invested will not  be wasted .

[evitasi]

In traditional slots you pay a coin, and if a certain sequence comes up, you get some winnings.  I think everyone will agree that's a form of gambling.

In bitcoin, to create coins, you pay some electricity, and if a sequence of 0's comes up, you win some bitcoins.

Is this aspect a form of gambling?

And if so, is that illegal in the U.S.?

bitcoin is not a gambling, it's real like an investment, we can make certain about the value

[dammang]

In traditional slots you pay a coin, and if a certain sequence comes up, you get some winnings.  I think everyone will agree that's a form of gambling.

In bitcoin, to create coins, you pay some electricity, and if a sequence of 0's comes up, you win some bitcoins.

Is this aspect a form of gambling?

And if so, is that illegal in the U.S.?

i think no,bitcoin is not  a form of gambling,in gambling you need a lot of money so that you can bet as much as you want to win,but in bitcoin you only need to access or invest a little,then boom,a easy money is there,bitcoin give us money in a easy way,not like gamble

[Edraket31]

In traditional slots you pay a coin, and if a certain sequence comes up, you get some winnings.  I think everyone will agree that's a form of gambling.

In bitcoin, to create coins, you pay some electricity, and if a sequence of 0's comes up, you win some bitcoins.

Is this aspect a form of gambling?

And if so, is that illegal in the U.S.?

bitcoin is not a gambling, it's real like an investment, we can make certain about the value

Yes you have a point, but for me it is really like a form of gambling wherein you can invest money based on your capacity or on how much you would like to take a risk, so it sort of gambling because you don't know and have no assurance at all in what you are doing.

[dificanovi]

bitcoin is not gambling but there are people who do to get bitcoin by way of gambling. actually bitcoin is not gambling because we can get bitcoin by working on bounty and trading projects, besides we can also get profit by way of investing in bitcoin. I often join the bounty campaign rather than gamble because with gambling we can also get a lot of losses.

[Jacsnuffles]

When you're trading, Yes it is. You put your money into something risky, without any assurance, and hoping for a big return.

And when investing for a long term period, that's long term gambling.

Remember, if money is involve on something you're unsure, that's gambling.

You're risking money like you're betting.

But we, crypto traders, don't like the sound of it so we just keep calling it an investment. And that's what I prefer, of course. But the truth is, we're risking money on something where return is indefinite. I'm not fud-ing here. I am just stating it from a different perception. I still believe in bitcoin. Hodl gang member here. I'll lose so much if I make myself weak in this time of low price. Good luck everyone.

[@Mhaiang]

No, it's a binary form of payment. That's exactly what others' notion about bitcoin that it is a form of gambling. Consider casino and other betting establishments, they are the ones who are making the concept of gambling and bitcoin is just the reward or bet and not really the name of the gambling.

[Herjuna]

I think it is not entirely true, because there are things that we are required to work hard looking for a bitcoin later from the results that we enjoy as income, but if the results that we play again then it becomes gambling.

[kingkonjac]

in traditional gambling you bet on a thing and if this happens you win if not you are left with nothing but in trading you own something and you can analyze it with the proper tools so it is not a gambling.

[dommerty]

I do not think that this can be defined as gambling. But there are undoubtedly similarities. Whoever said anything, but you can not predict the result exactly. So in one way or another this is excitement.

[Angletim]

In traditional slots you pay a coin, and if a certain sequence comes up, you get some winnings.  I think everyone will agree that's a form of gambling.

In bitcoin, to create coins, you pay some electricity, and if a sequence of 0's comes up, you win some bitcoins.

Is this aspect a form of gambling?

And if so, is that illegal in the U.S.?

I don't think of bitcoin as a form of gambling. Before I invest in bitcoin, I will estimate the future price changes of bitcoins and decide whether to invest them. And gambling depends on luck, and it is riskier.

[Heronzkey]

for me it's not a type of gambling, but it's a job or job that you know you can not lose, not as a gamble it sometimes hurts you, although there is a bit of bitcoin involved in gambling like casinos , do not just go there because it's a gamble.

[Harrisonimo]

I am of the opinion that when one enters into the Bitcoin investment without due analysis and studying of the market trends, it can be likened to gambling. Aside this, bitcoin isnt gambling in itself but it can be related exactly with the normal stock exchange we have with fiats and other companies.

[DPrillio]

I am of the opinion that when one enters into the Bitcoin investment without due analysis and studying of the market trends, it can be likened to gambling. Aside this, bitcoin isnt gambling in itself but it can be related exactly with the normal stock exchange we have with fiats and other companies.

Yes, bitcoin is not a gambling because it is a form of crypto currency, it only relates gambling in such a way that gamblers use bitcoin for betting in Online gambling. And i think the most obvious reason of why it relates gambling is becauase bitcoin investment is having risk like gambling.

[Jessica2009]

      Gambling means a bet  and in the bet if we win we get some amount of money or else we fail and loose all the money we possess but in Bitcoin I didn't find such a game just as gambling . In Bitcoin we have to spend some money for electricity. Bitcoin is a digital currency by servicing people from all over the countries. Bitcoin is a peer to peer transactions no need of any intermediaries are required in Bitcoin transfer.

[Coins and Hardwork]

for me it's not a type of gambling, but it's a job or job that you know you can not lose, not as a gamble it sometimes hurts you, although there is a bit of bitcoin involved in gambling like casinos , do not just go there because it's a gamble.

How is Bitcoin a job? It is a decentralized digital currency, it is never been a job. I think they are just comparing Bitcoin into gambling since it is risky and investing on it is like gambling.

[Lmaooo]

To be frank, the bitcoin is not gambling because people work hard to earn bitcoins. The bitcoin miners get rewarded for their work, it is not a gift or incentive rather their payment for bitcoin mining.

[Indai24]

To be frank, the bitcoin is not gambling because people work hard to earn bitcoins. The bitcoin miners get rewarded for their work, it is not a gift or incentive rather their payment for bitcoin mining.

Definitely. Bitcoin is not a gambling rather say it's a risk. Why? Because people put their full trust with bitcoin, their hard earned money of course without even knowing how far it can go. But I salute to those who are brave enough to take the risk and because of that they are being rewarded in return. Lots of people are also getting advantage with bitcoin, they earned as they work and for me it's not a gambling

[Mumbeeptind1963]

In traditional slots you pay a coin, and if a certain sequence comes up, you get some winnings.  I think everyone will agree that's a form of gambling.

In bitcoin, to create coins, you pay some electricity, and if a sequence of 0's comes up, you win some bitcoins.

Is this aspect a form of gambling?

And if so, is that illegal in the U.S.?

bitcoin is not a gambling, it's real like an investment, we can make certain about the value

Bitcoin is different from gambling. Not because you're putting money in it also means that you're playing games remember that it's investing. And remember that gambling is a technique where you will put risks and gain or loose your money easily while bitcoin involves waiting and patience. They may be similar in concept but for me the best comparison of bitcoin is business.

[nurilham]

Yes, you can lose and you can win, predict how the market will behave impossible, you rely on luck as in other gambling games.

up to you, want to assume that. it is important that I know the rules that are taught to me. my conclusion is still working with what I believe. the other I do not think about it. go forward bitcoin, I am happy with bitcoin, very profitable bitcoin.

[fara_buduk]

very different once lol ....
when investing or trading bitcoin, we trade goods that want to profit from the sale price with prediction and analysis and what if we are wrong, then we will get capital loss. in contrast to gambling or FOREX trading they transact, if wrong predictions and analysis, their money can run out without a break
hopefully. all of us, do not make bad analysis or oblique issues about bitcoin. not us here because we know that bitcoin is very profitable for the future. enough they are people who do not know the bitcoin and the state that forbids bitcoin make analysis and bad problems with bitcoin. because I'm sure bitcoin is a progress in the future, the more they fight bitcoin then they will be distracted and hold back progress
so anyone who equate bitcoin with gambling or gaming and others i'm sure bitcoin is not like that

[izzabel]

In traditional slots you pay a coin, and if a certain sequence comes up, you get some winnings.  I think everyone will agree that's a form of gambling.

In bitcoin, to create coins, you pay some electricity, and if a sequence of 0's comes up, you win some bitcoins.

Is this aspect a form of gambling?

And if so, is that illegal in the U.S.?

No I think it not form of gambling because many people are already using it and many countries are using bitcoin right now

[Viyamore]

I must say that bitcoin is not a form of gambling because trading this have a basis. We can actually calculate how much you can earn based on the current price of bitcoin.
Unlike in gambling, most of the time,we just see things based on luck not literally in strategy.

[PilosopongTacio]

In traditional slots you pay a coin, and if a certain sequence comes up, you get some winnings.  I think everyone will agree that's a form of gambling.

In bitcoin, to create coins, you pay some electricity, and if a sequence of 0's comes up, you win some bitcoins.

Is this aspect a form of gambling?

And if so, is that illegal in the U.S.?

IMHO,If you mean.. "Gambling Literally".. I would say no..
However, Investments "seems" like a gamble if you ask me
Because when your investing, there's a chance that you would gain profit or lose from it. Depending on a given situations or scenarios. For me, if there's a "risk" then it's like gambling too.
Like ive said. If you meant "gambling literally" its a no for me.
Because,In this situation,you dont need to place bets first before joining.

[Procopiogamscrypto]

In traditional slots you pay a coin, and if a certain sequence comes up, you get some winnings.  I think everyone will agree that's a form of gambling.

In bitcoin, to create coins, you pay some electricity, and if a sequence of 0's comes up, you win some bitcoins.

Is this aspect a form of gambling?

And if so, is that illegal in the U.S.?

All of the activities regarding earning a bitcoin and other alternative coins are in the form of gambling but not literal, just like in applying a bounty campaign, there is no assurance if it is a good project that will prosper but you gamble your hard work and time to earn.

[DoublerHunter]

Most likely this is not a monetary game, there are no bets. This is more like mathematical calculations in a market environment. The more growth of bitcoin, the more difficult it is to extract, so more electricity is consumed. It does not seem like gambling.

It is not into a pure sense of gambling but if we will become realistic here, there is some sense of gambling that is going on here. Like you are taking the risks which is already a gamble and that is by putting your money in bitcoin because you don't know what will happen in the next few days, weeks,months or even years so that is like gambling but not in a pure sense of gambling.

[kongk]

I think bitcoin is not gambling but rather to help us make extra money from the bitcoin and do not get me wrong.

[Notcalculator]

The element of risk kinda makes it similar but because there's no kind of "gamification" i dont think it would be classified as such. Especially since, gambling is banned due to its addictive nature. It cant be said that mining is "addictive" or atleast i havent heard of a case of such.

[Boysen]

Bitcoin is not gambling. Simply because in gambling, you couldn't predict your chances but in bitcoin, you could. You could even see how much you could profit in bitcoin. If you're looking for gambling, there are a lot of bitcoin gambling sites, just make sure nit to get scammed because a lot of people in the cryptocurrency industry lost their bitcoins not from price drops or anything but from scammers.

[lorylore]

While i can say bitcoin is similar as gambling. Everything that take risk will be consider gambling. But is depend on how u gamble without losing too much.

[KIANA]

I think bitcoin is form of gambling because you want to won but there is a change that you can loose.

[lyks15]

No bitcoin is not form of gambling. For me it is a business but like gambling this kind of business is very risky if you dont have enough knowledge and great strategy you will loss your capital. But on the other hand we can say that bitcoin is type of gambling to those people who are want a quick cash or income so they will make a mistake to invest together with another investor or they are called it "upline" then when the upline will have all the money invest the temptation is always present so it may cause a scam like in gambling you may lose everything that you invest. So be knowledgable and careful to every step that you make.

[mybtcasset]

Bitcoin is decentralized it is nt a gambling it is future of payments the prices depends of supply and demand none can control the prices neither bitcoin is gambling or it is bubble

[ralph_0608]

In traditional slots you pay a coin, and if a certain sequence comes up, you get some winnings.  I think everyone will agree that's a form of gambling.

In bitcoin, to create coins, you pay some electricity, and if a sequence of 0's comes up, you win some bitcoins.

Is this aspect a form of gambling?

And if so, is that illegal in the U.S.?

For me you can call bitcoin a gambling if you buy it  with out knowing its historylike you invest because many peoole are doing it but if you know how bitcoin exist in  internet world it is not already a gambling it is already investing

[Ahiaba]

Bitcoin cannot in any way be refer to as gambling just because of its fluctuations in value. If count the numbers of people who have made huge profit you will see that it doesn't happen in gambling. Bitcoin is a currency digital currency and at the same time serves as investment tools though its value fluctuate over time.

[frillyblockG]

Btcs is not officially legal in USA nor its officially illegal too. It is just prevented fir free circulation that's it

[paul gatt]

I do not agree with that. Bitcoin is a digital currency. It was created to operate independently and extensively throughout the world. If you invest selectively and try to maintain it, you will succeed. The majority of bitcoins are profitable for investors. so bitcoin is not gambling.

[markleal]

In traditional slots you pay a coin, and if a certain sequence comes up, you get some winnings.  I think everyone will agree that's a form of gambling.

In bitcoin, to create coins, you pay some electricity, and if a sequence of 0's comes up, you win some bitcoins.

Is this aspect a form of gambling?

And if so, is that illegal in the U.S.?

Hi there melvster! Gambling is the process when some one just use luck or chances to earn cash after betting using a certain amount of cash. It is totally different from bitcoin, where bitcoin is a form of currency just like the cash you are using during gambling. Thus, bitcoin can be use to bet in gambling. Investing in bitcoin on the other hand doesn't mean it is a form of gambling, if that is how you perceived it. Does it mean that investor who buy stock at Spotify or Snapchat are all gamblers because there could be no certainty that their investment will generate a revenue?.

[worle1bm]

In traditional slots you pay a coin, and if a certain sequence comes up, you get some winnings.  I think everyone will agree that's a form of gambling.

In bitcoin, to create coins, you pay some electricity, and if a sequence of 0's comes up, you win some bitcoins.

Is this aspect a form of gambling?

And if so, is that illegal in the U.S.?

If we consider it from investing point of view then we can say it is a type of gambling because you are betting your money without knowing the outcomes and you can loss or win.

[kodtycoon]

While i can say bitcoin is similar as gambling. Everything that take risk will be consider gambling. But is depend on how u gamble without losing too much.

Everything is at risk not just gambling, depending on what they do for the bitcoin they get. Bitcoin purchase is not more gambling just a trade but has a high ratio in it, I think bitcoin is more business.

[joganuts]

It's not gambling because you can simply calculate the outcome yourself. There is no chance or gambling or betting or luck factor involved whatsoever. Completely different from slot machines in casinos.

But it's the actual calculation you're paying electricity for.

And what is legal or illegal in the U.S. doesn't matter, because Bitcoin is not related to the U.S. in any way. It would be just as relevant as asking if it's illegal in Iran or North Korea. It might be, but nobody cares

Gambling is betting your money on luck. I would rather say that this is a form of investment. Other may associate investing to gambling but investing does not rely on luck. Investing requires more thinking and strategy. Calculated moves. And calculated outcome.

[addeqt]

NOPE! Bitcoin is a form of currency my friend. It is the one you use in gambling activities, just like your fiat. Like for example in a real gambling. You chips is not a form of gambling if you visit your nearby casino and convert your fiat to chips which you can use in gambling; the chips alone cannot be marked as a gambling. It is used in a gabling could be more appropriate. The same way in bitcoins and other alts. The process bitcoin generates a new coins is far more different from what you are think of it to be.

[Qnetsupe]

Bitcoins already got the title of gambling currency. what nore can remain for saying or describiing it?

[Luizrosevelt]

The short answer is no. The mining process may admittedly involve some chance for a win or loose but that entirely is dependent on a computational algorithm that miners solve. The process and methodology is quite distinguishable from gambling that involves staking before the process starts. If for instance you were not the first to solve the computational algorithm, you do not get debited for missing the chance as is applicable in gambling.
The only aspect of gambling in bitcoin is when you day-trade and expect an imaginary huge returns. You may gain or loose and imo, that's the actual gambling.

[Elai101]

The short answer is no. The mining process may admittedly involve some chance for a win or loose but that entirely is dependent on a computational algorithm that miners solve. The process and methodology is quite distinguishable from gambling that involves staking before the process starts. If for instance you were not the first to solve the computational algorithm, you do not get debited for missing the chance as is applicable in gambling.
The only aspect of gambling in bitcoin is when you day-trade and expect an imaginary huge returns. You may gain or loose and imo, that's the actual gambling.

Yes, bitcoin is not a gambling but it have the risk similarity in gambling if you have to invest for it, but of course the weight of its risk is not same for those in gambling. Investing bitcoin or any altcoin is already a gambling because we gamble for the unpredictable outcome but percentage of loses is lower than the actual gambling, as gambling is to lose more and to win a little but investment in bitcoin is have more opportunity to be profitable than to lose.

[BitSat]

It's not gambling because you can simply calculate the outcome yourself. There is no chance or gambling or betting or luck factor involved whatsoever. Completely different from slot machines in casinos.

But it's the actual calculation you're paying electricity for.

And what is legal or illegal in the U.S. doesn't matter, because Bitcoin is not related to the U.S. in any way. It would be just as relevant as asking if it's illegal in Iran or North Korea. It might be, but nobody cares

Gambling is betting your money on luck. I would rather say that this is a form of investment. Other may associate investing to gambling but investing does not rely on luck. Investing requires more thinking and strategy. Calculated moves. And calculated outcome.

Yea its good reply as Gambling is betting mostly on luck and in case of bitcoin its not working we are investing and mostly its not depend on luck its mostly need some good work from you and research can give you better result despite in gambling you need here some good study

[Sedorikku]

In traditional slots you pay a coin, and if a certain sequence comes up, you get some winnings.  I think everyone will agree that's a form of gambling.

In bitcoin, to create coins, you pay some electricity, and if a sequence of 0's comes up, you win some bitcoins.

Is this aspect a form of gambling?

And if so, is that illegal in the U.S.?

some people says that bitcoin is a form of gambling and others say that is not a form of gambling.  Well,  for me i think bitcoin is not a form of gambling and it it helps many people in earning some income to use it in some priorities

[Ingoats]

In skme aspects it is a sort of gambling but not literally a kind. It just became somewhat a gamble because of t risk involved due to the market volatility such that you won't always win on it because the market value of Bitcoin fluctuate that much. So as such,it is like a gamble that their are sometimes uncertainties and misfortune when it comes to profit.

[duongdaiduong]

Bitcoins already got the title of gambling currency. what nore can remain for saying or describiing it?

I just simply don't understand why people titled Bitcoin as the gambling currency when actually any currency could be a tool for gambling for sure ? It's all about how you're using it not accusing it as something by seeing other's using.

[levvv]

Bitcoins already got the title of gambling currency. what nore can remain for saying or describiing it?

peoples are wrong. what is gambling ? you spend a little, and gain a tons in a short time.
bitcoin is not like that. it is true that bitcoin holders gain much profit, but they hold bitcoin for a long term, not in a short time like gambling.

[yurenchuang7125]

BTC has an investment enthusiasm in the whole world, the value behind the currency is block chain technology, so I don't think that the currency is a kind of gambling, this is just a kind of investment, the difference is that this kind of investment risk is bigger, at the same time, profit is very high.

If you decide to buy bitcoin, I suggest you buy it rationally and responsibly.

[fiulpro]

It's not gambling because you can simply calculate the outcome yourself. There is no chance or gambling or betting or luck factor involved whatsoever. Completely different from slot machines in casinos.

But it's the actual calculation you're paying electricity for.

And what is legal or illegal in the U.S. doesn't matter, because Bitcoin is not related to the U.S. in any way. It would be just as relevant as asking if it's illegal in Iran or North Korea. It might be, but nobody cares

Gambling is betting your money on luck. I would rather say that this is a form of investment. Other may associate investing to gambling but investing does not rely on luck. Investing requires more thinking and strategy. Calculated moves. And calculated outcome.

That sounds true to a sense. But here on bitcoin, not much of calculation does work. Its mostly speculation based hypothesisi that things will go well or not. Unlike in stocks we can actually predict the future of a compaby based on its work,  while here with bitcoins, it is highly manupulative and the market changes every now and then. May be one may get a benefit in long term but these days the short term profits have really lowered due to poor performance of bitcoins. So everyone is waiting for a risw to happen, which certainly doesnt look like a calculative move, rather waiting for good luck to happen.

[aditya6997]

Yeah it's a gamble where you can't be sure about the price at all!

[tumokatok]

Most likely this is not a monetary game, there are no bets. This is more like mathematical calculations in a market environment. The more growth of bitcoin, the more difficult it is to extract, so more electricity is consumed. It does not seem like gambling.

If bitcoin is gambling, I think there will be many losers To be sure bitcoin is not a gamble. Bitcoin is the digital currency. The value of bitcoin depends on the number of people who buy and sell bitcoin. To be gambling depends on the way people use it

[Jaybitcoin2018]

NOPE! Bitcoin is a form of currency my friend. It is the one you use in gambling activities, just like your fiat. Like for example in a real gambling. You chips is not a form of gambling if you visit your nearby casino and convert your fiat to chips which you can use in gambling; the chips alone cannot be marked as a gambling. It is used in a gabling could be more appropriate. The same way in bitcoins and other alts. The process bitcoin generates a new coins is far more different from what you are think of it to be.

Bitcoin is a form of currency thats it but in total way of processing your bitcoin or your currency you are converting it to other currency in which you are involving to gambling methods which is because you put your coin to exchange site which the risky is there being gamble in all cases.

[WorldBiz project]

Stock market itself is a bit of a game

[hermae]

Most likely this is not a monetary game, there are no bets. This is more like mathematical calculations in a market environment. The more growth of bitcoin, the more difficult it is to extract, so more electricity is consumed. It does not seem like gambling.

If bitcoin is gambling, I think there will be many losers To be sure bitcoin is not a gamble. Bitcoin is the digital currency. The value of bitcoin depends on the number of people who buy and sell bitcoin. To be gambling depends on the way people use it

Personally, I dont think that bitcoin itself is a kind of gambling. It is a kind of cryptocurrency. When we invest in bitcoin, we take risk whether we get high or low prices, but we dont lose all, unlike gambling that the chance of losing is much higher than the chance of winning.

[Grimjhow]

I think this is a form of buying and selling normally only higher exchange rate
every trade and investment have knowledge
learn more about the rising and falling prices of crypto curency
I am sure we will succeed if we understand it

[Dapper]

If people know how to open a dictionary and look up the definition of gambling.... or even easier yet, just Google the definition.   Then YES it is.   But the again so is buying stocks or opening a restaurant.   

[Addywealth]

I don't really understand all I know do is to carry signature and different social media bounty campaigns and after the work am rewarded I convert it to bitcoin and use it for whatever I need it for, in this context I don't see it as gambling

[mkcube]

I dont think if bitcoin is a gambling.When you say gambling you have to put a money for you to bet.But in bitcoin you dont have to give any single amount of money just to win.You only have to answr the questions an then post,after that your hardwork eill paud off.So there is no money invlove or ko money to put to win.

[Dapper]

Gambling is staking anything on an outcome.   The outcome that people are gambling on is that the bitcoin price will go UP and not DOWN.    It doesn't matter if there are no cards, horses, or Marina Bay chips involved.

[Denies]

well, this is the knowledge for many new beginners involved in bitcoin and crypto.
basically, the layman's understanding of bitcoin is gambling or ponzi schemes. actually this is far from what they think, ignorance makes a person do not understand and carelessness is one of ignorance. so, in essence, we should seek knowledge and broad insight about bitcoin if interested further.

[Hallmader]

In traditional slots you pay a coin, and if a certain sequence comes up, you get some winnings.  I think everyone will agree that's a form of gambling.

In bitcoin, to create coins, you pay some electricity, and if a sequence of 0's comes up, you win some bitcoins.

Is this aspect a form of gambling?

And if so, is that illegal in the U.S.?

You are getting it the wrong way. Your information about Bitcoin is terribly wrong. Please get back to the basic description of Bitcoin. Add to it at least a little history of the technology and its original vision. I even want you to at least browse the portion of Bitcoin's whitepaper, the one that can easily be understood by any layman. Bitcoin is our best option in terms of payment. Why? That's your assignment. 

[sadwage]

bitcoin is not a form of gambling it isis depend of how you use bitcoin if you are trader I think it is gambling but in other way of income in bitcoin like bounties and mining is not a gambling..

[tats14]

In traditional slots you pay a coin, and if a certain sequence comes up, you get some winnings.  I think everyone will agree that's a form of gambling.

In bitcoin, to create coins, you pay some electricity, and if a sequence of 0's comes up, you win some bitcoins.

Is this aspect a form of gambling?

And if so, is that illegal in the U.S.?

well for my own idea, yes, bitcoin is a gambling, because you can risk your own idea and own life too, but you learn a lot of knowledge and information about of investing bitcoins.

[dario.93]

bitcoin is not a form of gambling it isis depend of how you use bitcoin if you are trader I think it is gambling but in other way of income in bitcoin like bounties and mining is not a gambling..

its look like  form of gambling also because of big volatility and risk to loss money have a lot of emotion like in casino and many people come here only to play with bitcoin they will loss their money for sure after that.

[abanansah]

Bitcoins and blockchain in general cannot be termed as gambling. Gambling is a game where one wins at expense of other, but bitcoins and cryptocurrencies is just like any traditional goods sold in market where you buy low and can sell high to make profit.

[Eijrafarm]

Yes, indeed bitcoin can be categorize as one form of gambling. The instance whether to gain or loss money is like winning or lossing. The fact that you gamble having two opinion which is positive and negative then it is a form of gambling.

[subbotina]

No doubt it is risky way of making money and you can compare it to gambling. It is gambling because, you do not have any control on the prices.

[wilburwilbur]

first, Bitcoin is more like investment than gambling
second, yes bitcoin is banned in America (because government can not tax it?) lol haha idk
in gambling you can lose everything and in investment you did not lose your bitcoin but the price is just lowered
so im conclusion bitcoin is an investment but can be a gambling (depends on your perception)

[plaintiff77]

Well maybe because bitcoin is risky and just like gambling you never know if you will win or lose.Bitcoin value is volatile so it always rise or fall from time to time but the difference from bitcoin in gambling is that in bitcoin you can assure big profit if you will just wait patiently unlike gambling that winning is unpredictable.In bitcoin if you are patient then you can earn big.

[Dudeperfect]

I don't think that Bitcoin is gambling in any way but I would say that if someone is putting his money without doing proper research then he is none other than a gambler. Even though there is uncertainty in the crypto market, one can predict the possibilities of the trends with proven scientific analysis methods. Sadly there is a lack of awareness and maturity in among the people which are making things more complicated and negative.

[boddy.dy]

If you think that bitcoin is a form of gambling I guess you need to go back to basics of bitcoin. Study again what really bitcoin is and what its mean to the society. It is because bitcoin is far away from gambling. Bitcoin is a crypto currency which has somehow a basis of its fluctuating price or value. Some people who don’t really understand the core of bitcoin says that this gambling because its price or value goes high and low. But there are no basis of gambling if it is just price or value which are involve. I guess this would call a gambling if it is incorporated with something that regulates each and every time price or value by sort of game by the use of such as cards, dice or horse.

[aditya6997]

Price Volatility makes it gambling! So yes, it is indeed a form of gambling!

[rafit09]

Gambling is an activity of drawing fate! For example - grab a dice, select a number and then hope the number will appear, throw the chest ... the decision-making process is complete when the dice is thrown, the end we never know and can not control it.

Then what about bitcoin? depending on how to get bitcoin If one of the ways to get profit from bitcoin is trading, which is to buy some coins from bitcoin with the assumption of profit from a big price increase.Dan trading is a decision-making activities involving many aspects ranging from research and market analysis , financial management and risk management even psychological management to recognize market psychology as well as the ability to control oneself.

And I think it all depends on how to get it, if you get bitcoin in every way follow the bounty contest, such as making twiter, artkel to promote the bounty, then succeed and the person paid for working on the project, I think it is lawful and not said with gambling.

[leavefifa]

Investing in the stock market is also gambling? I do not think so. Bitcoin is created for a specific purpose, you work and collect Bitcoin. If you want to, you can sell Bitcoin to people who want to use it certainly is not the form of gambling but you are working to get paid. Or invest in ICO projects. If successful, this project will benefit many people. If you contribute to it, you must be rewarded. No, Bitcoin is never gambling.

[ghost07]

yes for me when you invest in bitcoin can be called a gambling because the price is not stable and there will be a chance of winning or lossing. that will be the risk in investing bitcoin because in bitcoin you gambled your money to earn more.

[evermak]

It is similar to gambling only but if you do proper analysis and research before investing, you can eliminate the risks. Majority does not do this and they are gambling only.

[hajimasan]

In traditional slots you pay a coin, and if a certain sequence comes up, you get some winnings.  I think everyone will agree that's a form of gambling.

In bitcoin, to create coins, you pay some electricity, and if a sequence of 0's comes up, you win some bitcoins.

Is this aspect a form of gambling?

And if so, is that illegal in the U.S.?

I don't think that bitcoin is any a way of gambling Because bitcoin is not made for the any type of the high low bet game , here all things depends upon demand and value in the online  market .
Now , in these days fluctuations is much so we can buy at low.and  small increase in price will result into profit and sell now .
So here we also need to give time and also proper time .
But in gambling we don't need any type of proper Timing , we just need to put our money and Everything will depend upon luck to win the bet .
So here both type of Field are totally independent and we don't go through such types of negativity about cryptourrency .

[selivers]

No it is not gambling, you take calculated risk in case of bitcoins. In fact, if you are investing for long duration say one year, there is guarantee that you will make profit.

[Micerker]

It is interesting to say that Bitcoin is like gambling, but I agree with your point. Look at the fact Bitcoin prices are manipulated by whales, and we are gamblers, if luck is going to make a lot of profit, and if the whales  want us to lose we will never win.

[joanshu]

BTC is more like making an investment .An investment is something from which we expect to get huge returns in the future as compared to the normal savings we do in a bank.Yes we can also say that investing in btc is more like gambling but there are gambling options available in btc and in gambling we will either win btc or end up loosing what we have.where as making investment in btc is like waiting for the right time so that we can withdraw our investment in order to get profit out of the investment so investment on btc cannot be said as gambling where as doing gambling and trading is something which can be said so as it involve high risk.As far as my knowledge i dont think that btc gambling is illegal in the US as i never came across such news.

[charlemagne_15]

This is 100% gambling ATM.

But if you invest is always gambling... more or less, but gambling.

Well I agree with you. In my perspective, I considered bitcoin as a gambling because you always take risk in here such as joining in campaigns. You won't know it the campaign you were in is a scam or not. Also, you gamble when you invest because there's no assurance that the result will be successful. The price of bitcoin that is unstable is a proof that doing bitcoin is a gamble for all of us.

[TomUyamot]

In traditional slots you pay a coin, and if a certain sequence comes up, you get some winnings.  I think everyone will agree that's a form of gambling.

In bitcoin, to create coins, you pay some electricity, and if a sequence of 0's comes up, you win some bitcoins.

Is this aspect a form of gambling?

And if so, is that illegal in the U.S.?

Bitcoin is not gambling. You are not betting on something. When you buy Bitcoin it is not like you are plainly depending on absolute luck for your investment to either rise or turn to zero. Gambling is actually based on pure luck. And the odds will always be against your favor. Bitcoin, on the other hand, is a currency. That itself tells a lot why Bitcoin is not gambling. Moreover, such currency is being bought and sold resulting to a fluctuating value.

[always1337]

In traditional slots you pay a coin, and if a certain sequence comes up, you get some winnings.  I think everyone will agree that's a form of gambling.

In bitcoin, to create coins, you pay some electricity, and if a sequence of 0's comes up, you win some bitcoins.

Is this aspect a form of gambling?

And if so, is that illegal in the U.S.?

Bitcoin is not gambling. You are not betting on something. When you buy Bitcoin it is not like you are plainly depending on absolute luck for your investment to either rise or turn to zero. Gambling is actually based on pure luck. And the odds will always be against your favor. Bitcoin, on the other hand, is a currency. That itself tells a lot why Bitcoin is not gambling. Moreover, such currency is being bought and sold resulting to a fluctuating value.

I think people are considering investing as gambling so that's why they could say investing in Bitcoin is a form of gambling but i think it don't work that way at all. People are forgeting that Bitcoin is more likely stocks and forex and why they don't call those investments are gambling but keep saying Bitcoin is a gambling ? It's all about the misunderstanding .

[Virtual miner]

No bet means no gamble.

When mining bitcoins there is no bet or stake. Instead, a mathematical problem is solved and this earns a monetary reward.

Yep.. that's right...when there is nothing like bet or stake involved in the bitcoin mining work, then how can it be correlated to gambling or something like that!!

Bitcoin gamble is an altogether different thing and when you talk about investment or trading in bitcoin, that also doesn't come under the category of gamble. Day traders do play a chance game, but again the point here is unless you are not betting on anything, it cannot be considered as a gamble.

[kalawang]

In traditional slots you pay a coin, and if a certain sequence comes up, you get some winnings.  I think everyone will agree that's a form of gambling.

In bitcoin, to create coins, you pay some electricity, and if a sequence of 0's comes up, you win some bitcoins.

Is this aspect a form of gambling?

And if so, is that illegal in the U.S.?

yeah gambling is takign the risk so if you hodling it or buying some bitfcoin it is like gambling in our life maybe we loss or maybe we win but fror me bitcoin is like hope for us because it can give a lot of opportunity people to get more moeny in the future or income to use daily needs to surcvie in our life o bitcoin is very important.

[genset88]

In traditional slots you pay a coin, and if a certain sequence comes up, you get some winnings.  I think everyone will agree that's a form of gambling.

In bitcoin, to create coins, you pay some electricity, and if a sequence of 0's comes up, you win some bitcoins.

Is this aspect a form of gambling?

And if so, is that illegal in the U.S.?

In my country Bitcoin can be said to be a form of gambling because now Bitcoin is banned in my country, the economy in the state is still light and cannot grow to meet the needs of Bitcoin. But people involved in investing in my country are afraid of being discovered by the government.

[Webberson]

I really do not see bitcoin as a form of gambling but rather a practice that involves risk. But when the risk taken is a calculated one, through proper analysis before going into an investment, it is therefore, said to be a minimal risk.

[nilstairs2]

Yes ofcourse because we invest money on btcs just as we do in the gambling and wait for the returns without pre notions

[cloudproject]

Bitcoin is not something like betting or gambling. Trading some stock or crypto is also not a gambling too. Gambling is mean you decide to gain some fortune with your decision lucky or not. But that isn't gambling anymore if you can predict you can win that
Are you heard some news that math teacher kickout from local casino because winning too much with math formula to gain 100% win ?
Bitcoin is not a gamble because this price happen because the economic matter and by people who using it
But this is HYIP because supply is low and when many people are trade can make this price affected too much

[kamBlanV]

In traditional slots you pay a coin, and if a certain sequence comes up, you get some winnings.  I think everyone will agree that's a form of gambling.

In bitcoin, to create coins, you pay some electricity, and if a sequence of 0's comes up, you win some bitcoins.

Is this aspect a form of gambling?

And if so, is that illegal in the U.S.?

I think bitcoin is not a form of gambling, because Bitcoin is a tool for making payments online, even though the price is fluctuating but it's all affected by demand and there are calculations.

[SiDtHeBeSt]

Well I think it might be something similar to gambling but it cannot be called gambling. It is mroe of an investment with a little bit of risk involved. Gambling is just betting and winning based on your luck and nothing else. Where as you need intelligence and knowledge for investment. Some people might say even gambling needs 'skills', 'intelligence' and 'techniques' but 99% of gambling is based on luck.

[cvetkova]

It is not a form of gambling in my opinion. In case if gambling, most of the people end up losing money. However, in case of bitcoins , majority is making profit.

[maximkretov]

The popularity of Bitcoin continues to grow, in particular, largely due to increased interest in it from the Chinese. BTC China now is the largest platform for trading bitcoins. In terms of trade volume, the Chinese left behind the Japanese, Americans and Europeans. Growth was facilitated by the fact that the largest Chinese search engine Baidu began to accept payments in Bitcoin, thus opening up a new huge market for the currency

[nereidkeck3eh]

There are many casinos still running proud heartedly in USA. why wont the btcs too promoted

[piter66]

I guess no one needs to answer this question again,  bitcoin is not a gamble but mainly a store of value like gold where you can store income which is not needed at a particular time. Unlike gold,  bitcoin can be cashed anytime one is in need of it and it is easier to monitor since it is not controlled by any government body or financial institution. Gambling is just a section in which one can make use of bitcoin to pay.  Example of bitcoin gambling website is crypto-games.net

[BLAST2MARS]

No it is not gambling, you take calculated risk in case of bitcoins. In fact, if you are investing for long duration say one year, there is guarantee that you will make profit.

You just said it. It has risk so therefore it has to do with gambling. You put your money in bitcoin and the possibility of profit has no guarantee and you can still lose just like on usual gambling. I know there is still a huge difference but the point is gambling is present in bitcoin.

[cryptolet]

 In my own opinion the answer is no because you invest your money and gets some interest in it just like any other business where you put in capital and expect gain or interest from it.

[HunterBTC]

What if doing the mine was called gambling? Or do trading also called gambling? I do not think Bitcoin is a gamble, a lot of the positive side of Bitcoin that can produce and that is not gambling, it's just that for every person who still lay about Bitcoin they call it Bitcoin is gambling.

[Fire316]

               " Gambling is the wagering of money or something of value on an event with an uncertain outcome with the primary intent of winning money or material goods. Gambling thus requires three elements be present: consideration, chance and prize."

         I think gambling is present in bitcoin like in trading because gambling means play games of chance for money,making a bet,and taking risky action in the hope of a desired reault. But investing and gambling are different. But not all in bitcoin is a form of gambling because you can earn bitcoin through other way like campaign that only needs your time,effort and knowledge.

[Kolly]

In traditional slots you pay a coin, and if a certain sequence comes up, you get some winnings.  I think everyone will agree that's a form of gambling.

In bitcoin, to create coins, you pay some electricity, and if a sequence of 0's comes up, you win some bitcoins.

Is this aspect a form of gambling?

And if so, is that illegal in the U.S.?

I think yes. When you gamble there is a chance for you to win or lose and so when you invest on bitcoin. The presence of risk is there to both of them. Strategies is needed when doing both and so with luck.