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Author Topic: Crypto hodling as a form of gambling!  (Read 628 times)
Bagaji
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September 04, 2019, 11:01:09 PM
Merited by Sebas.tian (2)
 #21

Good to know you later sell some of your holdings as at the time the market has gone to the current level it is now. I have had same experience and up till now am still yet to recover from the lost. I have been holding ethereum since the year 2017 till now with the hope that market its Market will return to where it was but to avail up till this moment, but my decision now is that I rather lose all my ethereum than to sell at this ridiculous value at the moment.




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September 04, 2019, 11:14:19 PM
 #22

Hodling and gambling may be similar at some point like; wagering of money, involves risk, uncertainty of gaining or losing, primarily aim to gain money. But I don't consider hodling as a form of gambling since you don't play in order to win. And hodling is for long term while in gambling, playing a specific game only lasts for minutes. For me, hodling crypto is just like investing in a company, waiting for it to multiply depending on the performance of the entity in the ecomomic.

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September 04, 2019, 11:21:06 PM
 #23

I would think of the same due to the fact that crypto market is a high risk investment.
However, if we will categorized this kind of gambling, I should put it in skilled based type of gambling because we analyze and do planning prior to investing, and if we continue to hold, we will never loss even if the price will go down and we will only be holding a small percentage of our investment.

Once we invested here and hold, we already gamble for the possibility to loss, the good thing with crypto is that it's proven profitable for those who knows how to hold, so holding seems to be a never failing strategy as long as you hold a legit coins.




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September 04, 2019, 11:40:47 PM
Merited by suchmoon (4)
 #24

Over a period of short time, I was forced to sell those cryptocurrencies at a significantly lower price and accepted my loss which led me to believe that hodling is

Bottom line:

You consider hodling as a form of gambling since you are playing with the risks of holding BTC or any altcoins on a chance that someday that effort will be paid off or not. But for me, don't take hodling as that since even we are risking money holding our crypto, we don't literally play gambling here.

Unlike in gambling where you are bound to rely on luck (house edge gambling games) and strategy+luck (on a strategy-based games) then wait for the final result, hodling and selling is pure of strategy on how to deal with volatility and that depends on how "YOU" managed it along the way. You are the one who will make the result here. Of course to take your hodling into worth thing to risk, then only hodl those coins who are proven to have a strong foundation which is BTC is the best example.

You have valid points, although many would not agree with me, I still treat them as the same and even though are of different subject matter, my argument is that they  both share common characteristics which in my opinion has striking similarities as listed below:

1. Both gambling and hodling crypto  offers some kind of wager (e.g. gambling = bet /money , hodling = crypto)
2. Both has risks / rewards associated with it. (would result in a win or loss situation)
3. Both needs some form of strategy. (gambling strategy / holding strategy)
4. Both are also bound by luck.  (hodling is also bound by luck since we cannot foresee what will happen along the way)  Smiley

Lastly, though many of us treat these matters differently according to our point of view, its vital that we have learnt important lessons from it whatever the outcome will be. Smiley
 

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September 05, 2019, 04:46:47 AM
 #25

If you do it blindly without doing any researches about the coin you are going to hold then yes it is a form of gambling, if you do researches as well as doing it with a plan then I cant say it as gambling but investing. Obviously there is always a risk of holding crypto as there is no guarantees that holding = profit. I'm quite sure there are many people have the same experience as you including me and I do not regret it too as it is a part of investing where we need to be ready for all possible result especially a lose.

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September 05, 2019, 05:07:18 AM
 #26

~snip
I know some of you had already been on the same kind of experience just like me. Smiley
I think almost everyone had that moment where you have your holdings and upon reaching the ATH of Bitcoin, people didn't cash out (just like me). In my mind, I thought it's just going to keep on continuing increasing forever and I'm not aware of what are the types of mindset that I should've. Back then, all of it was making myself regret that I didn't cash out, asking myself why I didn't do it but in reality, you could've never have known that. It's always going to be the point where you would regret something. I think It's just one of those moments that you need to actually keep yourself informed in what could happen and believe in one.

I don't see as HODLING is a gamble, it's the price on what you have on it. Maybe the mindset of HODL should never be associated with how much it is because you might think that you gambled it because it lost its value.  Right now, you just have to focus on yourself and believe that you can get it soon. Once you are satisfied with the value or believe that it will be, then go. It depends on the attitude.




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September 05, 2019, 05:55:38 AM
 #27

Looking at your stories i think in my view it's not more than you were losing your chance to get better price to sold your crypto assets because back again you were too greedy and thought the price of crypto always be good which is near to impossible and for me your hold is not a gambling because there is a chance to sold your assets but indeed you missed that opportunities and got false predictions and i think there are big difference between gambling and crypto holding that gambling required luck to get the money but for holding the particular coins i think patience is the key to get right opportunities to sold

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September 05, 2019, 06:05:32 AM
 #28

I was forced to sell those cryptocurrencies at a significantly lower price and accepted my loss which led me to believe that hodling is indeed a form of gambling and thus has a risk / reward factors associated with it.

"Hodling is a form gambling?" I don't think so, but it depends on how you manage your trade, how you hold a coin. If you hold and then greedy, then it can be called gambling, holding also requires TP and SL, only with targets far high from daily trading.

well, but I'm quite impressed with you because you don't feel least bit sorry for your greed. That is exemplary, because we should be, making decisions and accepting all risk.




.




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September 05, 2019, 06:10:11 AM
 #29

If you pick the wrong coin, then that will be gambling, but as long as you can select the right coin with analyzing the coin, I don't think that will be gambling. But yes, at this time, maybe some of us are gambling to buy any coin at the market, and we hope that one of the coins will be increased later. The percentage of the increase of the coin will not too bigger as we don't know which coin will increase. We only predict as what we usually do in the gambling, but we have less information about the coin details.



.
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September 05, 2019, 06:43:22 AM
 #30

Looking at your stories i think in my view it's not more than you were losing your chance to get better price to sold your crypto assets because back again you were too greedy and thought the price of crypto always be good which is near to impossible and for me your hold is not a gambling because there is a chance to sold your assets but indeed you missed that opportunities and got false predictions and i think there are big difference between gambling and crypto holding that gambling required luck to get the money but for holding the particular coins i think patience is the key to get right opportunities to sold

"Hodling is a form gambling?" I don't think so, but it depends on how you manage your trade, how you hold a coin. If you hold and then greedy, then it can be called gambling, holding also requires TP and SL, only with targets far high from daily trading.

well, but I'm quite impressed with you because you don't feel least bit sorry for your greed. That is exemplary, because we should be, making decisions and accepting all risk.


Indeed! a little bit of greed in me might be the culprit behind these experiences but at that time, all I feel was euphoria and a great sense of optimism for cryptocurrency and all - having had experienced the benefits of joining the crypto rush!

Honestly, I feel no remorse on my past decisions, after all  its all just part of being a human being! I hope this should serve as a reminder to our fellow crypto enthusiasts.Smiley

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September 05, 2019, 06:44:12 AM
 #31

Probably it will depend on how you manage your crypto holding. Yes, the crypto market movement is so unpredictable and fluctuate every now and then. You don't have a loss if you keep holding on it while the price dragging down sharply, there's possible that it will pump again and sell if your profit was there. Following in emotion will lead you from a massive loss, you should also control this attitude.

Not like gambling, it required luck for those based on luck game and pure skills on gambling that based on skills game. For me, they are both different concepts and I won't consider that holding in bitcoin is a form gambling, only weak hand can say that word and can't wait to hold for a long term.




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September 05, 2019, 06:45:05 AM
 #32

If you do it blindly without doing any researches about the coin you are going to hold then yes it is a form of gambling, if you do researches as well as doing it with a plan then I cant say it as gambling but investing. Obviously there is always a risk of holding crypto as there is no guarantees that holding = profit. I'm quite sure there are many people have the same experience as you including me and I do not regret it too as it is a part of investing where we need to be ready for all possible result especially a lose.
Thats right, without a deep calculation then trading and holding that you do will be the same as gambling, because you only depend
on your luck to profit because you can only hope, hoping in a trade won't mean anything, hoping only for gambling.

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September 05, 2019, 07:01:47 AM
 #33

Some of us too have undergone that and still going too. Some of our coins are totally worthless now while some have been delisted too. Is sure a real gamble to hodl.


Good to know you later sell some of your holdings as at the time the market has gone to the current level it is now. I have had same experience and up till now am still yet to recover from the lost. I have been holding ethereum since the year 2017 till now with the hope that market its Market will return to where it was but to avail up till this moment, but my decision now is that I rather lose all my ethereum than to sell at this ridiculous value at the moment.

Yes, in your own case with etheruem, I will also hodl if I had the coin until it starts getting profit and I can sell then if I want to because etheruem is a valuable coin and will still bull.

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September 05, 2019, 07:09:53 AM
 #34

I only hold BTC so I don't consider it much of a gamble. If the price is too low then I just don't touch it, nothing lost, I still have the same amount of BTC.

I do feel holding anything else a gamble. There's no way to if the prices of a cheap crypto will ever go up or if a dumped crypto will ever recover.
Good way to stay in the right position whenever you have optimistic approach and not to allow yourself to think that you are gambling with your fate, in some manner people thinks that because of this never ending sways the market been considered as playing a gambling types of investing though you should be calm and not to be bothered, continue with how you understand the industry and draw your own results.



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September 05, 2019, 07:15:41 AM
 #35

The main reason why I do not like to bet on casino games and Sports betting is simple for this reason alone
We are gambling 24 hours a day when we hold on to CRYPTO
This is not like a currency or something else of value because of its volatility we are always at risk of losing

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September 05, 2019, 07:47:45 AM
 #36

believing that this projects have very good fundamentals and does have a room for growth!
Now you realize that this certain point of your crypto life was a lie. Well, it's normal for a beginner to get deceived by these "promising" projects (I think so) so don't fell that you're a big loser because even me experienced the same thing. Anyway, past is past and since you already learned your lesson from this then that's already enough, what important is that you became a better investor now Smiley.
which led me to believe that hodling is indeed a form of gambling and thus has a risk / reward factors associated with it.
Yeah! Sort of. For me it is a form of gamble in a sense that you are risking not only your money but mainly your time and hopes to a place full of uncertainties. I'm pretty sure that hodlers like us have the same question inside our heads such as "Is this coin really have a future growth?", "Should I continue waiting or sell now?", "Probably this is a shitcoin..". Those things inside of my head makes me really uncomfortable, it sucks but fortunately I can still handle it or let's say I'm used to pressure already lol Cheesy.

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September 05, 2019, 07:59:24 AM
 #37

Yhup i agree because holding is very risky like gambling. The activity are quite the same .wherein we are making certain strategy and at the same time we are hoping for better results after.. Actually it's not Almost the same but we can call it as like that because indeed in holding crypto we risk money as well s right? So its like gambling and i believe all the things that we needed to risk a money is always a form of gambling....
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September 05, 2019, 08:52:55 AM
 #38

Holding is risky but somehow you can predict the future of your coins depending on how good and well-established it is. Sometimes its our lack of patience why we are losing, we didnt wait so we decided to sell but you have an option. Its just that you chose to end waiting because of no assurance if your coins will recover or not.

Unlike gambling that is mostly about luck, investing and holding is different because you can do something to avoid making a wrong decision, you can choose a good coin like btc and wait for price pump. Though I also have coins that are slowly losing its value I dont sell yet even im aware of the consequences if ever the price didnt bounce back, its because im prepared for the outcome whatever it is.


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September 05, 2019, 09:10:22 AM
 #39

Well, nothing goes up forever. Prices of cryptocurrencies are expected to fluctuate. The "nose-dive" and long bearish market came as a surprise to many. So it is safe to say that they are rare events. What we are going through at the moment is unlike Crypto we were used to. .

However, cryptocurrency trading doesn't really qualify as a real gambling, maybe the right word  should be skill-based gambling? But it is still more predictable than skill-based gambling though.



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September 05, 2019, 09:27:57 AM
 #40

Well i kinda agree here cryptocurrency hodling is a gamble especially at this stage where the price of cryptocurrency especially bitcoin goes up and down but the real winners here is the early adopters they almost profited 20000x when the price of bitcoin is surging really fast back in 2017 also, the were some investors who lost a huge amount of money when the price of bitcoin start to go down in 2018. The stock investing is also a gamble too since your money depends on how good your company which you've invested in performs so, in other words, investing whether in cryptocurrency or not, is a gamble where the winners, gain profit and the losers lose their money.

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