Is Crypto another form of gambling?

[Marvell1]

Gambling? There are only two options: either your assets vanish or they multiply. However, Bitcoin has no association with that unless you activate derivative functions such as those on Binance Futures.
Bitcoin operates on a trust system built upon Blockchain technology. Its movements are purely driven by supply and demand dynamics.

To this day, many people believe in Bitcoin because it is decentralized and has a limited supply. As a result, demand will persist as long as major institutions continue to adopt BTC.

Thus, everyone will leverage its volatility function to their advantage.

It all depends on the type of cryptocurrency you're choosing. If you choose Bitcoin, there's no risk of losing it all in the long run. It keeps going higher in market price due to the way it was designed. Short-term speaking, BTC will go down. But you should take that opportunity to buy as much coins as you can to prepare yourself for the next bull run.

I'd say altcoins are truly a gamble because they're extremely-unpredictable. Many of them have no real utility and are only driven by hype. This could make you lose all of your investment in an instant if people move on to the next big thing in crypto. The situation is worse with "meme" coins such as Dogecoin, and Shiba Inu. If you're going this route, I'd suggest you diversify your investment to minimize losses as much as possible. Who knows where the crypto market will go to next? Just my thoughts

Once invested in bitcoin, there is always a risk whether you invest short term or long term because we cannot know what will happen in the future, and its future is still uncertain. Bitcoin's popularity and legitimacy are still growing day by day, but it's still not big enough to warrant a solid future for it.

I agree, investing in altcoins is more like gambling, but there are many good and worth investing altcoins like bitcoin, such as ETH or BNB, not all of them are gambling when it comes to altcoins. Investing in altcoins is really too risky, but in return, the returns are significant, if not larger than bitcoin.

[Z390]

If that's the case I would rather gamble with crypto than going to a casino to gamble my money, because it's easier to gamble with crypto and win wonderfully well, all you have to do is spread your money among good five or seven projects then wait and relax for a while, there is no you gambling to get your result that exact day and you are gambling against the house, gambling is all about how you can get lucky and crypto is about how you manage your portfolio.

[SamReomo]

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?

I don't agree with that because crypto isn't a form of gambling, and comparing it into gambling isn't a fair thing. Crypto-currencies are  type of currencies which can go up or down in value and they can be used to purchase goods, while gambling is so different from that concept because in gambling you either win or lose, and when you lose you have no way to recover the lost money. In the cryptos one can invest the money and the returns can be very good if the currency gets higher in value. In gambling we place bets and if they go wrong we lose everything. Crypto-currencies can have many uses while gambling is just for entertainment and earning some extra money if you are lucky. It's totally unfair to compare those two as a single thing.

[Mauser]

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?

It is obviously not a form of gambling as it’s not a game of chances, I assume that both point 1 & 2 are needed to be classified as gambling and point 1 is not true. In case crypto currencies would classify as gambling than so should all the other financial assets we can buy and sell on exchanges. When buying stocks or commodities isn’t it the exact same thing as buying crypto currencies? I buy a financial product which value fluctuates freely and I hope that in the future the price will be higher than when I bought it. In all the cases it involves risk as the price could drop considerably overnight and would lead to a big loss. The reward we get through higher prices in the future is the compensation for the high risk we take to face a loss. If there are any constraints coming in the future, they should also come for people buying stocks and commodities, it's not fair to single out crypto currencies alone. For me the difference ebtween gambling and cryptos is that gambling happens in a fixed environemnt, the casino knows before the chances of winning and losing. Whereas with crypto currencies nobody knows the exact value of a currency beforehand and there is a lot of fluctuation in the market.

[posi]

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?

Have you seen anyone get rich by gambling? As for me, I've never seen anyone like that. But with cryptocurrencies, as we all know, there are many people who have become rich and changed their lives by investing in cryptocurrencies, especially bitcoin. So I totally object if someone says that cryptocurrency and gambling are the same. People who say such are ignorant and they only say what they think. It's not worth bothering with those nonsense words.

[Farma]

It doesn't matter whether they see Bitcoin as gambling or not, that will not stop us from investing in it. Bitcoin is more of an asset and currency that can be use to pay for services and make transactions. There had been so many calls for the government to regulate cryptocurrency and now we are seeing that this is already happening, it is going to give the government a chance to supervise every corners of cryptocurrency making it hard for our privacy to be kept safe from the government.

However, if we care about them, and if it is the people who are close to us, then we need to explain to them the difference between gambling and crypto. if it wasn't like that, then they might easily spread the word in society that it was gambling, and it might look bad for us if we cared about our surroundings.
I have experienced incidents that people who are near me think that crypto is forex. then I explain that it's not just forex but alternative currencies, investments, and others, and explain it deeper so they understand.

[GigaBit]

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?

I don't agree with that because crypto isn't a form of gambling, and comparing it into gambling isn't a fair thing. Crypto-currencies are  type of currencies which can go up or down in value and they can be used to purchase goods, while gambling is so different from that concept because in gambling you either win or lose, and when you lose you have no way to recover the lost money. In the cryptos one can invest the money and the returns can be very good if the currency gets higher in value. In gambling we place bets and if they go wrong we lose everything. Crypto-currencies can have many uses while gambling is just for entertainment and earning some extra money if you are lucky. It's totally unfair to compare those two as a single thing.

Obviously there are spread differences between crypto and gambling. Although the purpose of both the users is similar but there are completely different based on the characteristics. Many critics sometimes compare crypto to gambling because of its rapid rise and fall, but that has nothing to do with reality. An investor won't be completely bankrupt if an investment in crypto loses its value, but if a gambling bet is lost, it will be lost forever. Another big advantage in crypto is that there is a chance of recovery after the investment goes down which is not possible in gambling.

[Bitcoin_people]

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?

Gambling and crypto investing are not the same but two different processes. When a person bets to increase his money on a gambling platform, he is definitely at risk. Gambling is always losing and losing money so gambling can never be a part of investment. However, there is no downside to investing. However, if the Altcoins are invested for a long time, it can turn into a scam. But Bitcoin is an investment-transparent virtual currency that is a future-proof asset. So investing is a better place than gambling where there is no fear of losing your money. Most of the time people get hurt by gambling, so investing in Bitcoin is the best way to do it.

[xSkylarx]

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?

Have you seen anyone get rich by gambling? As for me, I've never seen anyone like that. But with cryptocurrencies, as we all know, there are many people who have become rich and changed their lives by investing in cryptocurrencies, especially bitcoin. So I totally object if someone says that cryptocurrency and gambling are the same. People who say such are ignorant and they only say what they think. It's not worth bothering with those nonsense words.

Ive seen one, but it doesn't mean that we also follow it, as he just got lucky to win the lottery, and we don't have the same luck to win that lottery. For others who are treating trading as gambling, that is for sure. I don't see or know anyone who got rich using that method because that is not a strategy; it is just a guess on where the price goes. Though you are right, we can't stop others from doing it, but for sure they will realize it later on.

[mendace]

Gambling and crypto investing are not the same but two different processes. When a person bets to increase his money on a gambling platform, he is definitely at risk. Gambling is always losing and losing money so gambling can never be a part of investment. However, there is no downside to investing. However, if the Altcoins are invested for a long time, it can turn into a scam. But Bitcoin is an investment-transparent virtual currency that is a future-proof asset. So investing is a better place than gambling where there is no fear of losing your money. Most of the time people get hurt by gambling, so investing in Bitcoin is the best way to do it.

You can't compare Bitcoin to a game of chance it's simple madness. Bictoin is a protocol or a series of precise rules that can never determine an agreed winner and cannot be violated. Gambling, on the other hand, is a lie created by man to fleece the weakest, those who truly believe they have won. I don't see how the most beautiful computer code ever written can be compared with the greatest nonsense created by man.

[synchronym]

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?

Crypto currency is a digital currency in my opinion it is not fair to compare this currency with gambling. Many people are succeeding by investing money in the crypto market where the price of the crypto currency rises. I have seen people who invest in Bitcoin make good profits if they invest for a long time. And gambling is completely different, it is played by placing bets, people suffer a lot through this gambling, it does not bring success in anyone's life through gambling. You must understand that crypto currency is a digital currency, it is not a symbol of gambling.

[nimogsm]

Part yes this wording fits and i will explain why. We all remember how many tokens came out where the developers promised big profits, but you only need to buy their token. Yes, it's basically a gambling game. Or, for example, the same meme tokens, they do not carry a useful function, but have only speculative interest, and for many investors it is like a game.

[ZAINmalik75]

Crypto currency is a digital currency in my opinion it is not fair to compare this currency with gambling. Many people are succeeding by investing money in the crypto market where the price of the crypto currency rises. I have seen people who invest in Bitcoin make good profits if they invest for a long time. And gambling is completely different, it is played by placing bets, people suffer a lot through this gambling, it does not bring success in anyone's life through gambling. You must understand that crypto currency is a digital currency, it is not a symbol of gambling.

I agreed with you about this but as hatters are trying to mix things for years it's also their another opinion about this crypto world which is giving good ways for the many those want to live independent and having better things in life just because of crypto.
Gambling is involved in many ways not only in crypto it's also having availability in other things as well but never anyone talk about this which is surely biased thing from them gambling never gives you life which is currently having just because of the crypto and gambling never allow peoples to be rich as we have in crypto world just need to understand fundamental of this all, and surely you will be in positive side of the crypto.

[salad daging]

Part yes this wording fits and i will explain why. We all remember how many tokens came out where the developers promised big profits, but you only need to buy their token. Yes, it's basically a gambling game. Or, for example, the same meme tokens, they do not carry a useful function, but have only speculative interest, and for many investors it is like a game.

It's a shitcoin what the developers want is profit not a long term project gap plus now the crypto community is more swayed on an obscure coin of course they expect very high returns with 100x of course it's like a gamble no clear use in the project.
but when compared to some of the other top coins maybe it will be different and not considered gambling because the coin has survived until now of course there will definitely be another increase to take profits.

To me only obscure cryptos can be considered gambling.

[CryptoHeadlineNews]

Part yes this wording fits and i will explain why. We all remember how many tokens came out where the developers promised big profits, but you only need to buy their token. Yes, it's basically a gambling game. Or, for example, the same meme tokens, they do not carry a useful function, but have only speculative interest, and for many investors it is like a game.

But yet that doesn't justify the fact that cryptocurrency is to be classified as gambling, because though they might have some slight similarities, it still have features which differentiate it from gambling, such as the volatility nature of it's market enabling price to rise or fall depending on the demand and supply. Morever, when it comes to gambling, a user is only allowed to stake/bet/gamble with his/her fund once & stand the chance to either win if his prediction was correct or loses his entire fund if the prediction is wrong, unlike what happens to cryptocurrencies, as an individual after buying a coin, it's value can either rise or fall in next few days, weeks or months, but for sure it's price value will always fluctuate depending on the market news, demand or supply, of which a good example of such cryptocurrencies are Bitcoin, Ethereum, Ripple & Cardona", unlike most scam coins/projects whereby when it's value falls, it never rises again, as an idea crypto is ought to fall and rise. Which is why it's always good to do intensive research before investing in any altcoins, or likewise just stick to Bitcoin.

[Victorik]

If the second definition from Oxford dictionary fits well for crypto, then it also means that the stock market is also a form of gambling, because it also involves taking risking and expecting a desired result.

[hannahB4]

In my country, the government also believes that Bitcoin is a gambling game and a means of getting rich quickly and that is why they stopped trading in Nigeria even with this it doesn't stop people who have been into it to sell off their coin or their investment.

[lepbagong]

In my country, the government also believes that Bitcoin is a gambling game and a means of getting rich quickly and that is why they stopped trading in Nigeria even with this it doesn't stop people who have been into it to sell off their coin or their investment.

each country obviously has very different policies [including your country and mine] to determine whether bitcoin is a gambling game or not !! because the state must also play an active role in what can prevent its citizens from carrying out their own policies wrongly, so the role of the state is needed in every issue such as the presence of bitcoin and the like in due time. it's just a matter of waiting for the momentum for acceptance, which may be carried out in stages before being fully recognized.

[Ruttoshi]

No is not gambling. In gambling is either you gain or loss which involves buying and selling  in crypto,you have to learn and understand the principlesand how crypto works, before going into it.Crypto does not have expire seat or time unlike gamble. Crypto is totally different from gambling, it is a means of survival,livelihood, a job, an office work,or a business, just think aboutanything you do legally to make money.

[Ursulachuks]

Op, crypto is not gambling .While gambling relies on chance, cryptocurrencies rely on arithmetic and cryptography. When you gamble, you are betting against the casino, but when you use cryptocurrencies, you are betting against other users who have an equivalent amount of cash to you.
In casinos, everyone has the possibility to win if they play well and develop their own methods, but the chances are still in the casino's favor. Gambling houses typically have a guaranteed win because they have an edge on their games.
Cryptocurrency cannot replace gambling since it is a kind of entertainment where participants bet on outcomes in an effort to gain financial gain. Cryptocurrency is a store of value, not a means of gambling