Is Crypto another form of gambling?

[tw0.625]

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?

According to a piece in the June 26, 1996 issue of the Chicago Tribune, “Universities are considered hot zones for potential Internet junkies because they often give students free and unlimited Net access.”

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[RewFrew]

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.

I am agree with you. You told appropriate. Crypto and gambling are operate different way. Gambling depend on luck, ont the other hand crypt market is fully different from gambling.

[tw0.625]

Gambling depend on luck, ont the other hand crypt market is fully different from gambling.

The probability of winning and losing when betting on black in roulette.
European roulette: there are 37 pockets, including 18 black, 18 red, and 1 green (0) pocket. The probability of winning on a bet on black is 18/37, which is approximately 48.65%. The probability of losing is 1 - 18/37, which is approximately 51.35%. So, the probability of the casino winning is 51.35%, which means that over a large number of games, the casino always comes out on top. American roulette has 38 pockets and 2! green (0).

As for the Bitcoin trading, it is more close to a zero-sum game with transaction costs (is actually a negative-sum game), rather than a typical gambling scenario. If players trade too frequently, their transaction costs increase (trading fees), and in this game, the cryptocurrency exchange always wins. In one or two years, in this game, 98% of traders will lose their deposits. Only 2% of players will win, which means they will take the money from the 98% who lost.

The difference between gambling and the Bitcoin market lies in the fact that in roulette, your losses are programmed, meaning there is no strategy that could allow you to consistently beat the casino over the long term. However, when it comes to trading Bitcoin, a players can win if they have a winning strategy.

[romero121]

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.

I am agree with you. You told appropriate. Crypto and gambling are operate different way. Gambling depend on luck, ont the other hand crypt market is fully different from gambling.

Both were unpredictable which is the only thing that makes gambling and bitcoin similar. However the outcome of gambling and bitcoin were completely different. With gambling we were to lose everything if the bet fails whereas with bitcoin the varying price gives profit/loss but it won't make the wallet get emptied. Through learning it is possible to be better with bitcoin prediction whereas with gambling there is need of luck however good you make prediction based on data gathered.

[milewilda]

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 we do speak about risks taking then its YES, but in the sense that analysis and research could be applied then "NO" it cant be considered as gambling and just like with other investment on which it would really be just

normal that you would really be facing up some risks on losing money which it would be normal and something that you would be needing to face on the time that you are dealing with it.
We know that you cant just put up money and just wait up for guaranteed profits or revenue which it cant be possible.You would really be needing to do further steps for you to be
successful specially in cryptospace.You cant really just simply put up without having those reconsiderations in speaking about risks and the possible loss of money.

A form of gambling? Depends on how you would really be making yourself able to deal up with it. If you are just carelessly buying without having those in depth research
then you are basically doing gambling.