Is bitcoin a form of gambling?

[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.