Cryptocurrency and Gambling

[KennyR]

There is a misunderstanding among every cryptocurrency user. This happens mostly when they're new to the cryptomarket. Important reason behind this is the usage of cryptocurrencies on gambling.

During the early days, cryptocurrency is much used on gambling. Later slowly the usage got widened. This have created something among the people, that cryptocurrency is developed for gambling need. This is a big misunderstanding among people to talk cryptocurrency and gambling on the same scale.

[1715137014]

1715137014

[1715137014]

1715137014

[1715137014]

1715137014

[1715137014]

1715137014

[Wexnident]

As I've said in a previous post of mine, Investments and the like may seem like it's a gamble, but it's a calculated one. It does not rely on luck, it relies on factors that the investors themselves studied based on what can possibly be the growth of said investment and whether it would actually return something, unlike gambling which solely relies on luck.

A LOT of decisions in life can be called a gamble, even normal decisions can be called one since we don't have a guarantee of the result is what we expect it to be, but we simply call it decision-making because there's a clear difference between thinking about what to do compared to leaving it up to luck. It's that factor of thought that separates gambling from any other decisions we make. I wouldn't deny that luck exists in all decisions we make though, it's just we don't rely on it 100% or heck, even consider it as a factor when making decisions.

[Bttzed03]

There is a misunderstanding among every cryptocurrency user. This happens mostly when they're new to the cryptomarket. Important reason behind this is the usage of cryptocurrencies on gambling.

During the early days, cryptocurrency is much used on gambling. Later slowly the usage got widened. This have created something among the people, that cryptocurrency is developed for gambling need. This is a big misunderstanding among people to talk cryptocurrency and gambling on the same scale.

That's not it. Even the OP does not equate the two just because crypto is often used in gambling. What is being compared here is the fact that cryptocurrency prices are too volatile and there's high uncertainty about whether you'll win or lose in trading. That's where investing in cryptocurrency can be considered gambling.

[Iranus]

There is a misunderstanding among every cryptocurrency user. This happens mostly when they're new to the cryptomarket. Important reason behind this is the usage of cryptocurrencies on gambling.

During the early days, cryptocurrency is much used on gambling. Later slowly the usage got widened. This have created something among the people, that cryptocurrency is developed for gambling need. This is a big misunderstanding among people to talk cryptocurrency and gambling on the same scale.

I agree with you that cryptocurrency was used a lot in gambling in the early days as well as these days but that is only part of this misunderstanding. The deeper reason is that its volatility is really huge and newbies see it as a scam, gambling with only chance and no knowledge, especially looking at the chart of shitcoins, it is true that it is impossible to analyze or predict anything but only use luck to invest.
The only problem here is knowledge of cryptocurrency, like us when we don't know about something we tend not to take it seriously but for those who know it it is very valuable.

[ethereumhunter]

I guess it's because the popularity of cryptocurrency in gambling is rising. Many people think cryptocurrency is just for gambling. But if they want to dig a little deeper into cryptocurrencies, they will find that cryptocurrencies can provide an opportunity to make money and it's not gambling.

The good news is that cryptocurrency can be used anytime you want, to be sent anywhere, or even as a long-term investment. This can provide an opportunity for people who don't know about cryptocurrencies to start investing in crypto and don't have to use crypto for gambling.

[KaliLinux]

Well for one the two is closely tied given the fact that a couple of cryptocurrency projects offer betting and gambling as one of their "features", and some will always see any form of chance-based earning as a form of gambling no matter how structured the inner workings of it is. Although posts like these are important in creating a distinction between the two to at least separate them as two completely different concepts that just happened to coincide based on the circumstances.

What we are talking about here is subjective. Fiat can also be close ties with Gambling as well since we all know that from the beginning of Gambling, it has always been facilitated by Fiat. Gambling arenas have taken advantage of the adoption of cryptocurrency just like other sectors of the economy however, a person's mode of trade or investment in crypto also can be referred to as "Gambling" if you are not calculative or intensional about your investment. 

[EarnOnVictor]

This is a misconception, cryptocurrency is not gambling, but you can gamble with your crypto if you wish. There are vast benefits and functions of crypto, anyone could use the one that is good for them. Aside from gambling with yours, you can invest in HODL, trade spots or futures, you may use it for various online transactions or even stake it to yield better income, especially at times when the price of the crypto is not well appreciating or depreciating. The choice is choice, but be sure that you learn what you want to do with it, else, you will be tagged a 'gambler' since you don't practically know what you are doing.

[8rch7]

Life is a challenge, there is a big risk and a big profit that we will get, basically cryptocurrency is not gambling but an asset that we invest to get big profits, but many people equate cryptocurrency with gambling because random factors are very difficult. to guess, because it is difficult to predict when prices will soar, but in my personal opinion cryptocurrency is not a gambling platform, because there are also many other assets that are sometimes worse than cryptocurrencies that make us lose everything, because consumers are no longer interested in the assets we offer.

[AicecreaME]

Cryptocurrency is much better than gambling, because it has more chances of giving you profits than risking your money in gambling. Buy Bitcoin now, hold until the next bullrun and you'll get profits, while if you start playing gambling now, your money won't be able to last until tomorrow, that's for sure. Cryptocurrency is a lot more easier than gambling, if you'll only do spot trading, buy low sell high.

[Frankolala]

Many people still think of cryptocurrency as gambling. While gambling relies on chance, cryptocurrencies rely on arithmetic and cryptography.

Given the parallels between cryptocurrency and gambling, this makes sense. Both are fast-paced, the value of crypto is unpredictable.

Cryptocurrency is chance-based, rooted in exceptional circumstances like influencer opinions, values might drastically change.

And both crypto and gambling (online gambling) are accessible all day and night.

Crypto is a digital currency which is used to buy and selling of goods without centralized system. While,gambling is a game that we play with funds to entertain ourselves. It shows that they are two different concepts. Crypto is a unpredictable and it depends on the time of duration your are investing either short term or long term. In gambling your money disappears immediately after the game is over. You can be addicted to gambling as a player that even though you are losing, you can keep on playing but investing in crypto is not an addition because when you are tired of holding your coins,you can sell them off for fiat currency. There is no comparison in the two of them.

[Hypnosis00]

Cryptocurrency is much better than gambling, because it has more chances of giving you profits than risking your money in gambling. Buy Bitcoin now, hold until the next bullrun and you'll get profits, while if you start playing gambling now, your money won't be able to last until tomorrow, that's for sure. Cryptocurrency is a lot more easier than gambling, if you'll only do spot trading, buy low sell high.

It was our preferred area where we are comfortable. And besides, gambling is not a profitable platform, unlike trading because people do gambling for pleasure or consider this just entertainment, and many of these gamblers are willing to spend their money expecting nothing. But if we are in trading, we aim to earn a profit, however, this only become possible if we never rely on luck, instead to relying on our capabilities. Because if we consider trading as gambling, better to clear ourselves not to expect a profit as well but losses.

[KingsDen]

Cryptocurrency and Gambling

Cryptocurrency and gambling might look the same in the eyes of a layman but technically speaking and looking at the working principle of both you will understand that cryptocurrency differs from gambling.

While gambling depends so much on luck and a little kind of skill is required, Cryptocurrency in the other hand is majorly of skill and knowledge and a little kind of luck is required.

For instance in England today Manchester United will have a match against Chelsea FC.
Even without having much knowledge of the match I can predict that Chelsea will win Manchester United and it will happen. In the other hand another person can preducr that Manchester United will win Chelsea and it might also happen.
It is all about prediction and speculation, but in cryptocurrency there are things to watch out for in the graphl
before making some predictions about the movement of the coins.(Someone can argue that it is just like checking H2H in gsmnling), which is right but nit all gambling is football.
Someone without the knowledge of the skills may not prosper in crypto trading.

[Antonas1]

Many people still think of cryptocurrency as gambling. While gambling relies on chance, cryptocurrencies rely on arithmetic and cryptography. ~

I don't really care if people think crypto is gambling. But your next sentence is irrelevant, why should you compare cryptography and gambling?
As additional information for you to stop comparing things in an unreasonable way, here are the definitions of the two:

Cryptography
According to https://www.techtarget.com/searchsecurity/definition/cryptography :

In computer science, cryptography refers to secure information and communication techniques derived from mathematical concepts and a set of rule-based calculations called algorithms, to transform messages in ways that are hard to decipher. ~

Gambling
According to https://dictionary.cambridge.org/dictionary/english/gambling:

the activity of risking money on the result of something, such as a game or horse race, hoping to make money.

[Fesatmas]

There is a misunderstanding among every cryptocurrency user. This happens mostly when they're new to the cryptomarket. Important reason behind this is the usage of cryptocurrencies on gambling.

During the early days, cryptocurrency is much used on gambling. Later slowly the usage got widened. This have created something among the people, that cryptocurrency is developed for gambling need. This is a big misunderstanding among people to talk cryptocurrency and gambling on the same scale.

Everyone must have their own views on this cryptocurrency. It is very difficult to explain to people who already have such understanding. There are actually too many differences between cryptocurrencies and gambling, indeed I don't deny there are also similarities, but they are similarities in different angles and different ways of working.
One of the factors that make people think cryptocurrency is gambling is what you say.

[Mr.right85]

Cryptocurrency is money and offers an individual a staking power on gambling sites. In essence, cryptos can exists on a gambling network but gambling can't exist anywhere on the crypto network or in a currency market. Having it otherwise could be see as doing it wrong as, the currency market has come with a lot of professionalisation and comes with certain dynamic rules that one needs to be acquinted and abide to.

Gambling can be ventured into by just anyone on the planet and could get lucky more frequent than supposed but, you can't say the same with the crypto market. It turns against the inexperienced rather too quickly.

Gambling and the currency market remains distinct.

[uneng]

It is like asking if trading is gambling, because the answer is going to be the same.

Crypto is volatile and as we know, anything can happen on short run, that is in a day, week, month or in a year. But if we take longer time periods in consideration we can start making decent analyzes which allow us to make movements inside this market based on logic, facts and events, so we can leave the gambling zone.

In gambling, we lose the longer we play, but in crypto what we have been observing since the beginning is the opposite: the longer you invest and hold in this market, more profit you make.

[kryptqnick]

Many people still think of cryptocurrency as gambling. While gambling relies on chance, cryptocurrencies rely on arithmetic and cryptography.

Given the parallels between cryptocurrency and gambling, this makes sense. Both are fast-paced, the value of crypto is unpredictable.

Cryptocurrency is chance-based, rooted in exceptional circumstances like influencer opinions, values might drastically change.

And both crypto and gambling (online gambling) are accessible all day and night.

Cryptocurrency trading, IMO, has something skill-based in it, and so does choosing a project for a long-term investment. There's an element of luck, probably a significant one. We don't know the future, some events are not predictable, and some things just don't happen as they were rationally supposed to happen. But it's still not the same as using a generator of random outcomes or something like that. Also, gambling is not all pure chance, as poker is a prominent skill-based game that is often a part of gambling, for example. So the relations are not so clear-cut between the two and what is based on chance or skills.

[Odusko]

Well for one the two are closely tied given the fact that a couple of cryptocurrency projects offer to bet and gambling as one of their "features", and some will always see any form of chance-based earning as a form of gambling no matter how structured the inner workings of it is. Although posts like these are important in creating a distinction between the two to at least separate them as two completely different concepts that just happened to coincide based on the circumstances.

I think you have deviated from the point of view in the ops, what he was talking about, is the general perception of the mindset of the populace towards cryptocurrency ad how they view it.
While some investors already understood the crypto network and the ideas behind it with traceable codes some other people just take cryptocurrency as a gamble and a game of luck.

[The Cryptovator]

It's true gambling and cryptocurrency aren't the same, but have a good relationship. For example, if you invest in any crypto then you don't know where it would go. It would dump or pump. Same when you gamble, you don't know exactly what is going to happen. Isn't similar? On gambling, you are going to win big or lose everything. But in crypto, there will exist what you bought in tokens or coins. Doesn't matter value is less in fiat. When you are going to invest in a brand new project then it's fully gambling with your funds. The project would scam you or you may make some money.

[bocyaj]

Crypto currency means you like to define of trading.If so the crypto trading had a similarity towards gambling.In both the money was involved in the way of investment and bet money.But in the trading,if you had loss some money.You can recover by holding that coin for certain period of time.But in gambling,if you loss.Your money can’t be recovered.It can be regained by playing some more games.The important one is you May loss the rebet money ,if you play without strategy.