Crypto hodling as a form of gambling!

[jostorres]

Gambling is referred to differently in this story. Gambling here is referring to the possibility of being rewarded or losing in the end but there is no game involved, thus is it is different than the gambling that we might refer to in this section. If we think broadly of the word gambling, it could actually be used in so many things. Even life is a gamble somehow. Marriage is the same.

I don’t think you read the topic and if you did, I believe you didn’t get The story very well, the OP only explained how he held his coin for a while and then decided to sell lesser than he got which is the reason he considers crypto holding as another form of gambling which plainly means  risk and uncertainty. So basically, gambling in the context is basically talking about risk and uncertainty.

I agree with what the OP has said because I have suffered a similar experience and mine was even worse because I bought a very trash coin and I waited for a very long time, eventually when I considered selling, it was far below cost price, so I can relate with the post but not cryptocurrency in general is like gambling.

[AmoreJaz]

<snip....>

At hindsight, people may be confused about the distinction between hodling and gambling, although they are different in nature. The results may be the same but in hodling, the risk is relatively lower compared to gambling. Not to mention, the turnover of resources is faster in gambling which has the potential of either making or breaking your whole investment.

As a general rule, hodling may be profitable depending on the amount of your capital and the amount that you are willing to risk. There are also factors that can be considered to decrease the chances of losing your money. But in gambling, relying on such luck and odds may be your only scapegoat. If the odds are against you, no matter how much you deposit, then you are really bound to lose.

good analogy about the major difference of gambling and hodling. in hodling, you can prolong the outcome of your decision but in gambling, you can see the results of your decision much much faster. so you know where your money is heading in gambling.
 but yeah the end results might be the same but somewhere in between the process, the person have different approach in dealing these 2 = gambling and hodling. hodling might be considered as long process of gambling???

[jhongzjhong]

[SNIP]
...hodling might be considered as long process of gambling???

I guess it might be yes. If you are not monitoring the crypto market price then it would be gambling but if you know you can simply sell your holding coins in order to cut your loses. However, this is a case to case basis. If we compared both these holding and gambling, the worst I guess is gambling rather than holding. But when it comes the whole concept and outcome they are both gambling that risk money.

[SquallLeonhart]

In every form of investment, it means you are a risk taker were you are willing to gamble you capital. Therefore, if you are holding the alts for long term the risk was very minimal if the coin you bought are really promising and has a potential in the market, but if you choose the wrong coins even you hold it for long term, in the end you loss will loss it.

No doubt to win in crypto it’s really very important for you to have promising coin now a days all coins are good but the most promising Altcoin to hold for long term is bitcoin and Eth. In gambling it takes time to search decent website but the holding is good for bitcoin and Eth the most. Risk is the part of our life so never be afraid of taking risk.

Point of correction, not all coins is okay to purchase and all coins can never be categorized as been well simply because they are all cryptocurrency. It is very important to look into the very promising coins and be sure they have existed for quite some time.

I invested in a lot of new coin some time ago and I lost really bad, in short, I think I can no longer account for some of them now, this is because I believed all coins are safe and promises to be great but I made a mistake, now I have realized that Bitcoin and Ethereum is really the best, it’s just that they are expensive to afford but it can be bought in bits. It’s not necessary to own a Bitcoin; there are options of buying in smaller units. This is what I do and I believe quality is far better than quantity.

[Oilacris]

[SNIP]
...hodling might be considered as long process of gambling???

I guess it might be yes. If you are not monitoring the crypto market price then it would be gambling but if you know you can simply sell your holding coins in order to cut your loses. However, this is a case to case basis. If we compared both these holding and gambling, the worst I guess is gambling rather than holding. But when it comes the whole concept and outcome they are both gambling that risk money.

Well said which is definitely true.When we do talk about essence of risking money then they are similar but talking about the level of risk then they can be differentiated.

You can lessen up the risk on hodling if you do know on what you are doing not just randomly buying some stuff or coin and wait for its price to rise up.Always rely into those being mostly supported like BTC or ETH.

[pieppiep]

If we think broadly of the word gambling, it could actually be used in so many things. Even life is a gamble somehow. Marriage is the same.

You have a point. If there's no assurance for the outcome then its gambling.

Holding crypto is like gambling as well because we dont know the future of our holdings.

Just like now all of my coins in my portfolio is slowly losing their value but I keep holding because I know the risk if you invest in crypto.

Yeah, there's no guarantee you will profit or be happy. then you do gambling. but if you do something that can affect the final result then it's not called gambling. we know that a lot of people are starting to adopt bitcoin, there is a guarantee that prices will definitely rise in the future, so I don't call that gambling.

Both of you are right, and I don't have any doubt about that. Holding crypto is not gambling because we know how to analyze the coins price moves so that we can prevent losing money. And we have so many coins that can give us a way to make a profit in the future.

Crypto holding will be gambling if he can not watch and analyze the market and only depends on some people strategy. He will lose his investment value, and he cannot make a profit from gambling. But if he can know what decision he should use so he can have a chance to win the money.

If that person in the marriage, they need to open or share what they did to their wife or husband, so there is no miscommunication between them.

[Polar91]

[SNIP]
...hodling might be considered as long process of gambling???

I guess it might be yes. If you are not monitoring the crypto market price then it would be gambling but if you know you can simply sell your holding coins in order to cut your loses. However, this is a case to case basis. If we compared both these holding and gambling, the worst I guess is gambling rather than holding. But when it comes the whole concept and outcome they are both gambling that risk money.

They are indeedly both risking money that's why they have similarities and also differences. To explain the difference in a simpliest way, investing is a boring way of risking your money while gambling is the opposite which is why gambling is fun but more terrible for outcome for every mistake you make than in investing. You could be a millionaire and poor in gambling within a minute while in investing, that's not going to happen since it acquires a lot of time to see the outcome.

[sweetbet]

When you invest in a solid project and hodl for the long term, then it's not a gamble, BUT when you invest in a worthless shitcoin with a scamming CEO, then buying & hodling for any length of time is a pure gamble with the odds stacked very much against you.

[maydna]

When you invest in a solid project and hodl for the long term, then it's not a gamble, BUT when you invest in a worthless shitcoin with a scamming CEO, then buying & hodling for any length of time is a pure gamble with the odds stacked very much against you.

The problem is sometimes we select the wrong coins to hold, which make us wait for a long time. Besides that, sometimes we don't know which coins that can be the potential coins in the future. But as long as you hold bitcoin as the investment, I think that will worth for you to wait in a long time.

That is not a gamble if we can analyze although it still no guarantee to knowing of what will happen in the future. We could hope that what we buy at the market can increase higher in the future, so we don't waste our time to hold the wrong coins.

[SquallLeonhart]

Even investing on Bitcoin itself doesn't guarantee profits because no one can predict on what would be the future looks like but somehow

looking at the current situation of bitcoin which is mainly being supported as the main crypto then we can presume that it would really have that
bright future for longer runs.As an investor it isn't really avoidable not to think about alternatives to have the possibilities on earning more that's why
we do end up on risking into other choices of coins in the market.

I don’t think you know so much about Bitcoin if you do and if you have followed the history, you would know that it the best, safest and most profitable form of investment.  The only requirement for Bitcoin is patience and this is where a lot of its investors miss out. Bitcoin is not a Ponzi scheme, you can’t put in your money today and expect it to have multiplied in the next few weeks, only few people get lucky with such, when they buy low and it starts to increase immediately.

Smaller coins are risky, I would prefer to buy the smallest of Bitcoin than to buy coin that I cannot be sure of its tomorrow. Bitcoin might be volatile but profit is always guaranteed.

I think you deserve a lot of accolades, really many people are always very patient when it comes to Bitcoin and they need quick increase, this is where trading platform comes in. Those who want to make it quickly in Bitcoin world are advised to learn how to become very successful traders because I know there’s is a lot of money in that area.

Talking about Bitcoin, and like you have mentioned above, if it has to buying a coin to keep or hold, this the best, those who invested in buying BTC when it was less than 1 dollar, you can imagine what they are worth at the moment. If takes those who have an in debt knowledge, believes in the coin and also have patience to make profits in bitcoin investment.

[darewaller]

In every form of investment, it means you are a risk taker were you are willing to gamble you capital. Therefore, if you are holding the alts for long term the risk was very minimal if the coin you bought are really promising and has a potential in the market, but if you choose the wrong coins even you hold it for long term, in the end you loss will loss it.

I think it is too difficult to know the right coin, especially when it has to do with this new coins in the market. The only coins that are trustworthy which I think is still quite on a high side is Bitcoin, and Ethereum and buying this ones to hold isn’t so easy for everyone because it a bit on a high side and not everyone can afford.

To those who can afford to Buy BTC, I don’t consider holding it as gambling because there is always potential for increase but when it relates to buying the new coins with the hope of increase or because it looks like the future is bright, I would say that is a very big risk. A very big one because from what I have experienced a lot of new coins are scam.

[Prettyme]

I don't think so that holding is a form of gambling. Gambling involves game wherein you can win or lose. Holding is just your strategy to make profit so with this you need to always check the market to monitor it's price not like in gambling. In holding once you can't sell your bitcoin during its high price only the profit will lose not like in gambling that if you lose the game you don't have profit and you lose also the capital so you need to go back with nothing. So gambling is worst than holding.

[Hippocrypto]

Gambling has it's different ways of dealing to it, it doesn't mean you'll have to always play Gambling literally. Sometimes its applied to our daily living so as with holding long terms, because we don't know what future awaits us. Sometimes we fail and loss without knowing once you can't decide selling your asset to its best price.

[FlightyPouch]

I don't think so that holding is a form of gambling. Gambling involves game wherein you can win or lose. Holding is just your strategy to make profit so with this you need to always check the market to monitor it's price not like in gambling. In holding once you can't sell your bitcoin during its high price only the profit will lose not like in gambling that if you lose the game you don't have profit and you lose also the capital so you need to go back with nothing. So gambling is worst than holding.

For me, gambling is anything that includes risk. Holding is also risky hence we can say that it is gambling. Let's say you are holding a crypto currency and you never know whether it will be profitable to in the future or not, so you hold it risking it. Investing in a crypto currency is always a risk since we are dealing with the most volatile investments in the world.

[michellee]

When you invest in a solid project and hodl for the long term, then it's not a gamble, BUT when you invest in a worthless shitcoin with a scamming CEO, then buying & hodling for any length of time is a pure gamble with the odds stacked very much against you.

We don't gamble if we hold some coins, especially if we hold some potential coins that can increase anytime. Gambling itself is a game with the money involved, and it's not the same as holding. Holding is something that we keep for a while, and we are waiting for the price increases. If we hold for a long time, it doesn't mean that we are playing gambling because we know what we did.

[sana54210]

I think it is too difficult to know the right coin, especially when it has to do with this new coins in the market. The only coins that are trustworthy which I think is still quite on a high side is Bitcoin, and Ethereum and buying this ones to hold isn’t so easy for everyone because it a bit on a high side and not everyone can afford.

To those who can afford to Buy BTC, I don’t consider holding it as gambling because there is always potential for increase but when it relates to buying the new coins with the hope of increase or because it looks like the future is bright, I would say that is a very big risk. A very big one because from what I have experienced a lot of new coins are scam.

Yes, it is extremely difficult for us to forecast or know the fate of any coin and there is no need doing trial and error with money.  If one is financial buoyant,  then it’s advisable to go straight for bitcoin investments, but in a situation when there is no money, then understand that buying smaller coins to hold is just like gambling and most of those smaller coins are the ones below the top market coins.

I know someone that bought so many small coins some years ago but today nothing to show for it. The money has all gone. It would have even been better if he used the money to bet on a sports site.  He would have definitely made back his money by now.

[AjithBtc]

I don't think so that holding is a form of gambling. Gambling involves game wherein you can win or lose. Holding is just your strategy to make profit so with this you need to always check the market to monitor it's price not like in gambling. In holding once you can't sell your bitcoin during its high price only the profit will lose not like in gambling that if you lose the game you don't have profit and you lose also the capital so you need to go back with nothing. So gambling is worst than holding.

For me, gambling is anything that includes risk. Holding is also risky hence we can say that it is gambling. Let's say you are holding a crypto currency and you never know whether it will be profitable to in the future or not, so you hold it risking it. Investing in a crypto currency is always a risk since we are dealing with the most volatile investments in the world.

That's a wrong statement, anything that has got risk in it can't be considered gambling. When it comes to gambling we risk our money to get back a bigger earning. Crypto holding can be considered gambling because we make an investment and wait for the profiting, but we don't know whether the holdings will get us with profit or loss.

[peter0425]

Well there seems to be the same form from Holding and Gambling because the volatility of cryptocurrency is what made this area the same
In gambling you seek for luck to win,while the Holding needs also luck to profit(though the chance is large if you can afford to wait longer and not panicking)
Either way th important here is our capacity to risk what we can afford to lose

[Best Dreams]

When you invest in a solid project and hodl for the long term, then it's not a gamble, BUT when you invest in a worthless shitcoin with a scamming CEO, then buying & hodling for any length of time is a pure gamble with the odds stacked very much against you.

We don't gamble if we hold some coins, especially if we hold some potential coins that can increase anytime. Gambling itself is a game with the money involved, and it's not the same as holding. Holding is something that we keep for a while, and we are waiting for the price increases. If we hold for a long time, it doesn't mean that we are playing gambling because we know what we did.

Here i am after with you I also don’t see gambling and crypto holding a same thing. We can gamble with games and crypto coins are profitable if you hold them. Now a days people are buying crypto at low price so they should hold them instead of using at low price. With time crypto is gona be high and you should carry gambling as well.

[Dread Pirate Roberts]

When you invest in a solid project and hodl for the long term, then it's not a gamble, BUT when you invest in a worthless shitcoin with a scamming CEO, then buying & hodling for any length of time is a pure gamble with the odds stacked very much against you.

We don't gamble if we hold some coins, especially if we hold some potential coins that can increase anytime. Gambling itself is a game with the money involved, and it's not the same as holding. Holding is something that we keep for a while, and we are waiting for the price increases. If we hold for a long time, it doesn't mean that we are playing gambling because we know what we did.

it can be very gambling if the invest in unknown project. everyone has belief in a particular coin before buying a coin, if all wrong predictions back again to the coin holder. because basically what determines from the beginning is that the holder should have his own commitment and belief in what will happen in the market. different from ameteru trader who only bought without knowing the purpose from the start and only guessed the fate of the coin.