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Author Topic: Crypto market=online casino  (Read 102 times)
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June 02, 2018, 06:51:42 AM
 #21

and then lose money does that make Stocks Market a big online casino?
It certainly would look that way, wouldn't it?  And if you add the futures market on top of that, I would argue that much of Wall Street is really nothing more than a big casino.  Absolutely.  And especially when the stock market is in full bull mode, which it pretty much is right now.

And crypto?  I've said this before, that it's much more like gambling in that these are extremely speculative currencies, the true value and utility of which are very much in doubt.  Is there any reason why litecoin should be selling for $120 today, whereas it was about $3 a year and a half ago (roughly)?  There's no reason I can see.  Demand and its relation to bitcoin has inflated it, and many coins have been similarly affected.  Betting on a shitcoin is very, very much like betting on the roulette wheel.

I still wouldn't call it gambling because when it comes to gambling (like rolling a dice) you have absolutely no way of speculating about the result. it is pure 100% chance. but in trading, even trading the most unpredictable altcoin there are still ways to speculate it and it may be 99% chance for such altcoin but for the rest and specially bitcoin it is not that bad it can even be less than 10% chance at times.

as for litecoin, it has been having more real usages for the past 2 years specially ever since they enabled SegWit and it gained a lot of publicity. and on top of that when bitcoin fees were ridiculously high it kind of pushed everyone towards altcoins, one of which were Litecoin.

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June 02, 2018, 07:57:19 AM
 #22

as for litecoin, it has been having more real usages for the past 2 years specially ever since they enabled SegWit and it gained a lot of publicity. and on top of that when bitcoin fees were ridiculously high it kind of pushed everyone towards altcoins, one of which were Litecoin.

That's something the Bcash shills always overlook. There are already alts that fill the need for low tx fee utility coins far better than Bcash ever could. Litecoin and Doge particularly both saw a surge in usage when Bitcoin fees were high but Bcash was just a pump and dump coin.

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