Is Crypto another form of gambling?

[Agbe]

Agreed, altcoins are a gamble, and none of them are the same as bitcoin. So it is not wrong to say that cryptocurrency is another form of gambling if we are talking about altcoins. Bitcoin is not gambling, but altcoins are gambling and cryptocurrencies including bitcoin and altcoins.

People had to gamble in Bitcoin years ago and they succeeded with their bets. Years later, when Bitcoin is expensive with many people to buy 1 bitcoin, they try to find alternatives. And they have altcoins which are shilled as new Bitcoin and the Bitcoin Pizza story is used to say that altcoins will have their success and altcoin Pizza stories too.

Gambling in altcoins like Ethereum, BNB, Dogecoin brought success but if you did it in LUNA and FTT tokens, you are crying now.

I partially agree with what you said, investing in bitcoin many years ago can also be seen as a gamble because the risk then is huge. But there is a huge difference between bitcoin and altcoins that proves that bitcoin is not a gamble but altcoins.
Bitcoin was created with the sole purpose of becoming a currency, a peer-to-peer payment method, Satoshi did not create bitcoins with BTC tokens to raise capital and sell for profit. But all altcoins, including ETH, from the very beginning their purpose was created with the aim of selling tokens for profit. It can be seen that the purpose of the two is completely different, but because of our behavior, it makes both seem like real gambles.

I still don't take that has gambling. If you keep your Bitcoin in a wallet for a very long period, that has become an investment and not gambling. Even though there is risk in Bitcoin, the risk is always manifesting in trading, but in investment it is minimal because if you are patient enough to wait for the next bull time then you will have your money back but whereby you can't wait then you have to bear the risk. And when you buy Bitcoin as the time when Bitcoin was 20k$ and the time to sell them is 19k$ or still on the 20k$ then there is risk their. Even at that you didn't lost all but in gambling you will loss everything. So me, I can't compare Bitcoin investment with gambling.

[ringgo96]

I have studied about the crypto world and also studied gambling performance and they have different ways to earn income although trading is almost similar to betting in problem gambling but both have different ways, and crypto does not depend on luck even though we are all looking for profit when buying a coin but we have charts that must be learned so as not to be wrong in choosing the coin we want to invest in.

[SamReomo]

Yeah! The second relates to crypto/Bitcoin yet I'd say Bitcoin is not gambling. Would you say planting is gambling? Obviously you wouldn't, but farmers have been able to study weather conditions and seasons to know when to plant same way those who have learnt the trading of Bitcoin properly and who now have the correct mindset towards Bitcoin trading... they're likened to farmers in crypto world. Actually it may be gambling to those who are no-knowledge investors because of their aim which makes them even sow at wrong seasons and expect to hit profit but won't because it was not the correct season.
So for every informed Bitcoin trader and real time bitcoin investor it is not gambling as far as you can carefully monitor when and how to trade

Farmers are also always learning. Learn from experience, learn from others. Trading is the same, everyone must be willing to learn. Because there is a pattern that is a mutual agreement and it is still used today. I agree that gambling is different from trading. If you rely on trading like gambling it will make you devastated. Maybe you will make a profit in one or two trials. But if you continue I think your money will run out soon

You are right in order to be good at trading we must have to master the skill, and trading isn't gambling it's totally a different discipline. A trader isn't a gambler, but an intelligent person who knows in which conditions of the market he/she could make money. The trading and specifically crypto trading is a skill that can be mastered by anyone who is willing to give it time. In order to be good at trading you'll have to sacrifice a lot of things in your life, and those can include your friends, family, and your precious time. But, it's still worth it because once you learn the skill fully then you can earn enough money to enjoy your life.

On the other hand, gambling is not a skill that someone can master because it changes every time, and no one knows the future for sure. A gambler who isn't lucky will not be able to earn substantial income from gambling activity while someone who is a lucky person can earn a lot of money from gambling. A gambler has to be lucky in order to earn good money from it white a trader doesn't always needs to be lucky to earn money from it.

[Blitzboy]

Your investment would be a gamble if you don't have any plans for it. Unlike with gambling, an investor could actually manage the risk such as putting a stop loss depending on one's preference unlike in gambling wherein once you bet n mount, either you lose or win. Such concept confuses many people but they're actually different from one another. The only thing which binds these two concepts is risk of losing money especially in crypto industry wherein volatility is obvious. Proper risk management would yield to profit. Patience would also contribute to the result which I guess is another difference in comparison to gambling.

I agree with you that the core of both investing and gambling is uncertainty, but I'd want to dive a bit further. Theres a Zen-like maxim in the world of finance that goes something like, "invest in what you understand." Investors may better control risk when they do their homework and have a firm grasp of their assets' nuances.

In sharp contrast, the world of gambling is shrouded in mystery and offers little opportunities to influence the result. That old adage, "The house always wins," rings true in this case.

The peculiar volatility of cryptocurrencies allows for a combination of the two. If an investor enters the market without proper preparation, they may find themselves dangerously close to the brink of gambling. Indeed, patience is a virtue; doing things slowly and steadily may pave the route to success.

[Gulttam2a2]

Crypto is never another form of gambling. Gambling is totally different. In gambling you bet money on various games and then you have to trust your own luck whether you win money or not. But in that case crypto is totally different. In crypto you can invest money and earn. Many people compare this investment with gambling. There are various platforms in crypto where it is very easy to invest money and buy and hold something it will give you a big profit one day or the other but in gambling you have to invest money immediately. Almost people are investing in crypto in today's world. So I would say crypto and gambling are two different things. Crypto and gambling are not different forms of each other.

[Iadegbola34]

Personally, I see a distinction between cryptocurrency and gambling. While both involve risks, crypto is more than just games of chance. It's a complex technology that enables decentralized transactions and has various real-world use cases. However, I can understand why some might draw parallels, given the speculative nature of crypto investments.

[irhact]

Crypto is never another form of gambling. Gambling is totally different. In gambling you bet money on various games and then you have to trust your own luck whether you win money or not. But in that case crypto is totally different. In crypto you can invest money and earn.

If this is the reason you're giving to differentiate between Crypto investing and gambling then you can't convince anyone because in today market it's filled with new individuals just gambling with their money and hope on been lucky which is why memecoins and shitcoins investments are becoming more popular. Just as you explained in gambling, individual now put money in different cryptocurency then rely on been lucky to profit.

Cryptocurency wasn't created or invented as another form of gambling but since it's a high risk investment some individual have decided to turn it into gambling but the industry isn't a gambling industry. Those that gamble with their investment don't always make profits but lose.

[dansus021]

Hahaha, Life is self actually gambling mate  full of risk and we want hope of a desired result. Just like you said and also life basically a game that involves money. 

But seriously if you consider crypto is gambling that stock and other investment platform is another gambling right?

[Popkon6]

Especially the AltCoin section should be gambled on. Where it is totally dependent on the investors and not pure alot coins are operated as gambling. Because after a few days it gets destroyed again, so small investors always focus on uncertain future.

Bitcoin is completely transparent a decentralized currency on which almost 40%-45% people around the world consider Bitcoin to be transparent. And are totally dependent on investing in Bitcoin because long-term investment is definitely profitable. (You notice that in January the price of Bitcoin was 15.5K but by July the price of Bitcoin has reached 31.5K.) So this little long  It's proven how much six months of investment has benefited you. This is why I like to say Bitcoin is transparent. Bitcoin is not gambling.

[Hispo]

Especially the AltCoin section should be gambled on. Where it is totally dependent on the investors and not pure alot coins are operated as gambling. Because after a few days it gets destroyed again, so small investors always focus on uncertain future.

Bitcoin is completely transparent a decentralized currency on which almost 40%-45% people around the world consider Bitcoin to be transparent. And are totally dependent on investing in Bitcoin because long-term investment is definitely profitable. (You notice that in January the price of Bitcoin was 15.5K but by July the price of Bitcoin has reached 31.5K.) So this little long  It's proven how much six months of investment has benefited you. This is why I like to say Bitcoin is transparent. Bitcoin is not gambling.

I agree, that is why I personally stay away for shady altcoins and projects that offer more than they can actually deliver. There are people who do not care and willingly partake in some sort of gambling by buying those shitcoins and shit-tokens hoping to be able to cashout just in time.

If you think about it, buying shitcoins for profit is like playing a slow motion session of Crash in a casino, they see gains and more gains but they have only one shot, before all goes to hell and end up with 0% of their entry value.

That is definitely what gambling is about.

[Minhxx]

In my opinion if you have knowledge in this market and good capital management then you can make money by coin. On the contrary, if you do not learn about the market thoroughly and do not have the discipline to manage risk, it is like a gamble manipulated by many people.

[Abiky]

Hahaha, Life is self actually gambling mate  full of risk and we want hope of a desired result. Just like you said and also life basically a game that involves money. 

But seriously if you consider crypto is gambling that stock and other investment platform is another gambling right?

Even traditional money (Fiat) can be considered as gambling. You could lose purchasing power over time due to inflation. Matters get worse when inflation spirals out of control. There's really no such thing as an investment or asset that's guaranteed to retain its value forever. Life is always about risks, and only those willing to take them have greater chances of success in the long run.

Crypto may be new and extremely-volatile, but it's still performing better than tradtional stocks (especially Bitcoin). We should give it more time to mature, before saying it's nothing but a gamble. Who  knows if someday crypto stabilizes, while Fiat becomes history? Just my thoughts

[Mikky.Crypto]

If you consider cryptocurrency as a form of gambling, then XGo is a real game-changer. Using the XGo mobile app has transformed the way I engage with crypto. The easy-to-use interface and real-time price updates keep me connected to the market, ensuring that I never miss an opportunity. It's definitely a game-changer.

[milewilda]

Especially the AltCoin section should be gambled on. Where it is totally dependent on the investors and not pure alot coins are operated as gambling. Because after a few days it gets destroyed again, so small investors always focus on uncertain future.

Bitcoin is completely transparent a decentralized currency on which almost 40%-45% people around the world consider Bitcoin to be transparent. And are totally dependent on investing in Bitcoin because long-term investment is definitely profitable. (You notice that in January the price of Bitcoin was 15.5K but by July the price of Bitcoin has reached 31.5K.) So this little long  It's proven how much six months of investment has benefited you. This is why I like to say Bitcoin is transparent. Bitcoin is not gambling.

I agree, that is why I personally stay away for shady altcoins and projects that offer more than they can actually deliver. There are people who do not care and willingly partake in some sort of gambling by buying those shitcoins and shit-tokens hoping to be able to cashout just in time.

If you think about it, buying shitcoins for profit is like playing a slow motion session of Crash in a casino, they see gains and more gains but they have only one shot, before all goes to hell and end up with 0% of their entry value.

That is definitely what gambling is about.

Good for those people who do really have those kind of preference on not to touch up meme coins or shit coins which i do agree that this type of investment would really be that like of gambling. Even how hard you would really make out some analysis but still it isnt something that someone should really be touching since analysis is something that cant really be applied.This is why on the time that you would really be tending to
consider out on buying these coins or projects then it would really be needing that you should really be that mindful about the risks. In overall about crypto investment then it would really be that you choice
because its something that still that making profits which analysis could somewhat be applied on some circumstances and this is why it would really be that your choice whether you would
really be proceeding or not.

[asrinur]

I think crypto is not gambling. Instead I see it as a potentially profitable form of investment. sometimes people think of crypto as a form of gambling due to high price fluctuations and uncertainty. However, it is important to acknowledge that cryptocurrencies have aspects and uses that go beyond mere gambling. This includes its use as a means of payment, innovative technology, and financial inclusion tools. Therefore, in evaluating cryptocurrencies, it is important to consider multiple perspectives and acknowledge that there are benefits and risks associated with cryptocurrencies.

[Vaskiy]

Why bitcoin and crypto is connected with gambling. With gambling we predict the market and wait for the outcome. To some extent strategies and skills help in prediction of the outcome. With bitcoin we don't know exactly on what basis is the price movement happening around. We predict with connection to the previous market movements as well as the incidents taking place relative to bitcoin. This makes people have an understanding that crypto is another form of gambling.

Good awareness as well as right learning is required to understand well about the market. What we experience with gambling is possibilities or choices whereas bitcoin is all about the technology.

[Outhue]

If crypto is another form of gambling then I will keep gambling using my investment strategy at least its better to jump into a fresh good project that is promising than to try to beat a casino that has a goal of you losing so that they can make money, there is a big difference between the two.

To me crypto is better called an investment than gambling, you can analysis very well and choose the best projects that will get you rich in few years than chasing lottery tickets with 1% chances of changing your life out of 100%  that's ridiculous and that's what gambling has to offer.

The answer is very clear to see, these two are not on the same league, even those who use 20$ investments of every meme coins they see have a better chance to win than gambling, truth is gambling is the most terrible of them all, I am a gambler by default but I do it with my head and brain not in a dreaming phase, I gamble for fun and I invest more than I gamble.

[kro55]

Why bitcoin and crypto is connected with gambling. With gambling we predict the market and wait for the outcome. To some extent strategies and skills help in prediction of the outcome. With bitcoin we don't know exactly on what basis is the price movement happening around. We predict with connection to the previous market movements as well as the incidents taking place relative to bitcoin. This makes people have an understanding that crypto is another form of gambling.

Good awareness as well as right learning is required to understand well about the market. What we experience with gambling is possibilities or choices whereas bitcoin is all about the technology.

Sure, crypto is not gambling, but there are a lot of misunderstandings, and most of these misunderstandings come from people who have no knowledge of crypto. They argue that due to the extreme volatility and unsustainability of altcoins, this makes them feel like gambling. Meanwhile, volatility is an advantage for us because we can make big profits thanks to it. But when it comes to shitcoins, memes can't say they're wrong to call crypto is gambling. Because investing in shitcoins is like waiting for our luck, all that happens with shitcoins is pumping and dumping.

[Abiky]

If crypto is another form of gambling then I will keep gambling using my investment strategy at least its better to jump into a fresh good project that is promising than to try to beat a casino that has a goal of you losing so that they can make money, there is a big difference between the two.

To me crypto is better called an investment than gambling, you can analysis very well and choose the best projects that will get you rich in few years than chasing lottery tickets with 1% chances of changing your life out of 100%  that's ridiculous and that's what gambling has to offer.

The answer is very clear to see, these two are not on the same league, even those who use 20$ investments of every meme coins they see have a better chance to win than gambling, truth is gambling is the most terrible of them all, I am a gambler by default but I do it with my head and brain not in a dreaming phase, I gamble for fun and I invest more than I gamble.

I think the risks are much higher with traditional gambling, than crypto itself. The latter is often considered a long-term investment that will generate huge returns without much effort. It's like stocks only that prices fluctuate at a much higher rate due to the availability of crypto trading (24/7) and small liquidity. For some reason, the UK government is classifying crypto as gambling. By not treating it as a currency, UK citizens will be forced to pay taxes on every transaction. I'm not surprised about this, especially when most governments are against the revolution.

We should expect further misinformation and opposition down the road with the intent to minimize crypto's presence in the mainstream world. Who knows what the future holds for crypto/Blockchain tech? Just my opinion

[Mr. Magkaisa]

I was kinda surprised when I read the news from Financial Times that the cross-section of the UK's MPs that seems to see it as needless to regulate cryptocurrency suggested that it should be viewed as "a form of gambling" and be regulated as such.

Without relying on my own understanding of "gambling," I quickly used the help of the Oxford Dictionary through Google, and it states;

1. Play games of chance for money; bet.
2. Take risky action in the hope of a desired result.

The second one seems to fit crypto best, so it's clear they know what they are saying.

Now, do you agree that crypto should be seen as a form of gambling? And if this eventually comes through, what should we expect as the constraints it might still bring to the crypto space?

      -      If a gambler is addicted to playing in the casino he will surely think that doing crypto trading is also like gambling. But this is a wrong assumption, not actually. Because the crypto assets will not allow you to just trade there, due to if you have extensive knowledge of trading in the crypto space, you will make sure that you will get a profit even if it is not a large amount.

That's why it's necessary here that you have an idea of reading the chart or graph because you don't just rely on compound trading. Because if your analysis is correct, for sure you will make money in the end.