Crypto hodling as a form of gambling!

[iamsheikhadil]

I don't think that holding crypto is a form of gambling. Because in the long run, crypto prices are bound to surge because of growing demand and limited number of availability also, the growing population will also make its demand surge!

[jrrsparkles]

Unpredictability can be called as gambling so holding the cryptos is also kind of unpredictable outcome so we can never satisfy ourselves at what stage we need to come out of it.But this is not pure form of gambling and also we cans ave us from total loss when we are actively involving in the crypto related things which is the think decide what is going to happen for the cryptos in future.

[target]

All investment is sort of a gamble including those altcoins you bought.  I stand the test of time actually, some of the coins that I hold which was worth more than $60k during the bull market is now just worth $1k+. I forgot its wallet password already due to it. I guess I can consider it lost. There were regrets but I'd just focus on making money after all it already happened.

[logfiles]

It's not gambling. You let greed and emotions over ride your judgement. Of course, after the All Time Highs, price reversals we expected. It always happens unlike in gambling where you don't usually know the outcome.

Now after missing that time of selling of at the ATH, you just had to wait for 2-3 years before we get back highs. If you bought ICOs and shitcoins and held them then of course it was a mistake.

[Heisenberg_Hunter]

Let me give my views on cryptocurrency as a whole from two perspectives

1. Bitcoin as a form of Payment/Currency :

   When satoshi created bitcoin, he thought of using it as a global currency without any middleman handling out the trades, escrows etc. But with alternate coins came into practice the whole market changed enough such that bitcoin and other coins are considered as an investment rather than being used as a currency. You can see to it in the whitepaper that satoshi mentioning of a e-commerce sort of marketplace which can be accessible globally and the payments can be made through bitcoin. The primary goal has changed completely with trading taken into practice. I am a believer of bitcoin as a secure currency rather than a trading investment. Of course I do buy btc during lows but never sells them during price hikes. I would buy more products during ATH so that practically I am spending very little money on the product. Apart from btc, I am a fan of Ethereum and Monero both having a good development and help in solving various real world problems.

2. HODLing/Trading Shitcoins is an absolute Gamble :

   Hodling and trading shit-tokens/coins is considered as a absolute gambling sort of strategy. Shitcoins have some of the worst scam teams in the whole internet and people tend to believe in those with a speculative nature such that this might become the next Ethereum/Monero and they would become millionaire sort of. Investing in a luck based pump and dump game can be considered as gambling with your money rather than considering it as an investment. My friend is a believer of get-rich-quick schemes right from 2017 Q4 and has invested around $1100 in various shitcoins. Though the coins had a strong team, they were not able to recreate the pump from 2017. Eventually he lost around $800 in 1.5 years and currently he is having a portfolio of $300. The luck based shitcoin pump is a once in a lifetime opportunity which will either make you rich or simply make you poor with all the money being burnt.

[Upgrade00]

The comments appear to be split between those who are of the opinion that cryptocurrency hodling is gambling and those who think it isn't.

In concept, any venture where you do not wield sufficient control over the outcome is a sort of gamble. As you are not certain of the result. But this would classify any financial investment as a gamble, which it is in a way.
But the absence of odds and bookmakers and a wager or stake, make it white different from a conventional gambling concept.
I would say not, it is a gamble but not a form of gambling.

[Best Dreams]

You're not alone on this, people are expecting for a big rebound but unfortunately, it did not come, now people are still waiting for another all-time high that should have come but it's not coming, part of  being a good investor is to know when to buy and also when to sell your coin, timing is indeed everything.

You are right there should be fair and positive hopes about things related to crypto. Websites are now working in trend in different ways but only fair and good people can give you positive result at the end. Just be confident and don't try every new websites just stay with the only you trust the most and enjoy holding and gambling both.

[Capt00]

The comments appear to be split between those who are of the opinion that cryptocurrency hodling is gambling and those who think it isn't.

In concept, any venture where you do not wield sufficient control over the outcome is a sort of gamble. As you are not certain of the result. But this would classify any financial investment as a gamble, which it is in a way.
But the absence of odds and bookmakers and a wager or stake, make it white different from a conventional gambling concept.
I would say not, it is a gamble but not a form of gambling.

You are right. We never have full control over crypto bringing this into a way of gambling. But some people had never clearly understand this cause they only know that gambling is just by putting bets. The same thing that it happens to holding either we end up losing or gaining.

[pixie85]

Another thread where investing is mixed with gambling. Investments are not gambling because with gambling you can lose everything. Buying bitcoin will never result in a 100% loss and does not depend on luck which makes it very different from gambling.

Gambling is very similar to trading with leverage because it also can end with a total loss.

[Hamphser]

Another thread where investing is mixed with gambling. Investments are not gambling because with gambling you can lose everything. Buying bitcoin will never result in a 100% loss and does not depend on luck which makes it very different from gambling.

Gambling is very similar to trading with leverage because it also can end with a total loss.

I have to agree with you because gambling is different than investing gambling may drain your entire bankroll if you keep on losing. Investing is a different story since you are about to hold then sell later and you will have the chance to choose what price you want to sell it.

[aioc]

I also experienced the wrong time of selling and buying a coin, hodling can be considered gambling, because you have little idea or no idea if the coin you are holding will have a chance in the market, I have some coins that I hodl that I thought will have a good potential in the market, and I end up one of the last hodlers to sell those coins.

[rdluffy]

Until now, I probably agree with you that cryptos are some kind of gambling because it's so hard to predict any price or movement, that even real good analysts are wrong almost all of the time
Maybe with market evolving and growing, the times of gambling will end, and we will be something like stocks market

[maydna]

Until now, I probably agree with you that cryptos are some kind of gambling because it's so hard to predict any price or movement, that even real good analysts are wrong almost all of the time
Maybe with market evolving and growing, the times of gambling will end, and we will be something like stocks market

Even if the market evolving and growing, it will not stop gambling to grow too. People will still like to gamble because they know that gambling can make their life better. But that is not the gambling in the games, but gambling with something else out of the gambling games.

The gambling games itself will still exist for a long time. People are like to spend their money to get fun in another thing. So they will come to online gambling or offline gambling to play the games.

[xSkylarx]

Somehow it can really be compared from gambling. Like on my case I am a hodler since I learned about bitcoin and only spend some of them when I really need to. It isn't that much but I depend my future to it that it will help me to have my own business and quit my office job. The risk is lower if you hodl a crypto that has really a potential in the future but if you hodl those called shitcoins then don't expect that it will give you profit.

[bitsurfer2014]

It seems the community has differing views about this topic and I'm glad you guys shared different insights about it. In this sense, I think

I'm going to tabulate all the responses five days from now and quantify the data on those who agree or disagree with this idea so that we

may have a better picture on the community's overall responses.

[The Cryptovator]

I could accept that holding crypto is a one kind of gambling. Because I haven't sold my crypto during last bull run. Unfortunately I have bought some alts during last bull on this year. I just hold during dump of alts and still holding. I had not sold thats coin since I am still believing that alts will recover eventually and my fund will recover that time. Because it's too late even if I want to sell on loss. That's why I believe holding crypto also one kind of gambling because we don't know exactly what is going on near future.

[SquallLeonhart]

For me, yes you might consider crypto holding as a form of gambling, holding your crypto and waiting to a much sufficient amount is like playing poker if you are a safe player and waiting to a great card to make sure the money it's like trading or holding. But the game is much different like in gambling, holding your cryptocurrency has a different risk, you can't tell what time will be the most profitable moment and also its difficult to predict if the price will increase or decrease unlike in gambling that if you hit the jackpot/ win you will know that amount that you have won.

As long as they are both full of uncertainty then they can be referred to as gambling just that one is still better than another which is normal even with other gambling’s because some people believe sports is safer to play than poker and so on but I personally see crypto holding as another form of gambling, since one can never tell what happens the next seconds

I bought btc when is was far below 13k plus and I watched it grow till it hit 13k, at that moment I had made over x5 of what I invested, I thought of withdrawing and then I was hoping it was going to 20k based on the speculations and predictions by some so called experts,  shortly after then bitcoin started going down and until this moment, I am still waiting. This is just like gambling but safer because I know my I would definitely get back my money no matter how long it takes.

[nakamura12]

It can be considered as gambling since when you hodling your crypto you may lose profit or earn profit just like playing gambling in casino sites. If you have weak hands in hodling then there is a chance that you won't earn profit and it is risky. When there is risk in doing something related in money is considered as gambling.

[Best Dreams]

It seems the community has differing views about this topic and I'm glad you guys shared different insights about it. In this sense, I think

I'm going to tabulate all the responses five days from now and quantify the data on those who agree or disagree with this idea so that we

may have a better picture on the community's overall responses.

This is good strategy and gamblers should share their own important points of gambling  with other gamblers. Crypto and gambling both are not the same both have different qualities. We can gamble with crypto but storing crypto in form of gambling is not correct imagination but one thing that we can earn allot of crypto by gambling

[jrrsparkles]

Until now, I probably agree with you that cryptos are some kind of gambling because it's so hard to predict any price or movement, that even real good analysts are wrong almost all of the time
Maybe with market evolving and growing, the times of gambling will end, and we will be something like stocks market

Every investment is a gambling but in stock investment we have data to analyse the market if huge so we can do better predictions compared to the cryptos which was pretty new with stocks.If the price of cryptos reaches some stable region price then it maybe used for the right intention as means of payment rather than to be considered as gambling.

Keeping the cryptos as form of gambling will hurt the market at some stage and people might move around due to losses for this investment.