Bitcoin trading and gambling

[Kelward]

For some time now I've been pondering on this matter, because I see similarity between bitcoin trading and gambling, so I'm wondering whether they're the same thing. My simple definition of gambling is "try your luck", because you don't know what will be the outcome of the game that you staked. Although calculation is involved in gambling, like forecasting and permutations to predict winnings. In the end it is fifty fifty or sixty forty chances of winning. At the same time you can not accurately predict bitcoin , because of it's volatile nature. You're not 100% sure whether you'll win or loose.  Furthermore, I've leant on this forum that it's better to invest in bitcoin, with what you can afford to loose, meaning that it's not safe to invest your main capital. This is where I think that bitcoin is like gambling, because despite the accurate knowledge of bitcoin chart, you're never too certain of making gains, just like in casino, online betting and the rest.

From my observation, people don't have much regards for gamblers, they either see them as lazy people who don't like to work, or people who want to take shortcut to get rich. Although people are entitled to their opinions, but I don't like to categorize bitcoin in this group of " try your luck ". I know bitcoin is of a higher level, it's a decentralized digital currency that you can use to make transactions, at the same time you can cash in when the coin appreciates., or even trade it to make profit.

So having made all this comparisons, do you think that bitcoin can be classified as gambling?

[1715009113]

1715009113

[_act_]

Holding bitcoin is not the same thing as trading bitcoin. Gambling and trading are not the same thing too. Trading require you to learn trading skills but gambling require just some strategies. Trading can be risky like gambling, but they are not the same thing. If the price of bitcoin fall already, you can invest for months or years and you will most likely gain.

[komisariatku]

So having made all this comparisons, do you think that bitcoin can be classified as gambling?

I think anything we do without understanding, knowledge and analysis can be called gambling. Because we only try our luck, even though it's not certain that if we have knowledge and analysis it will definitely make us successful, but at least we can reduce the risk.

I agree with you, if we invest or trade bitcoin, but we don't know anything about bitcoin then it is the same as gambling. So, we need to understand bitcoin before trying to dive into it, so we can have an analysis of when is the right time to buy or hold bitcoin. Bitcoin is an investment instrument that has a high risk, if we don't know the knowledge it will be very dangerous. But every investment that has a high risk must have a big profit. So let's understand bitcoin before investing in bitcoin

[rozak]

So having made all this comparisons, do you think that bitcoin can be classified as gambling?

OP, I'm sure you are not a gambler or even a Bitcoin investor or trader in the market. if you do these two things I'm sure you will know the difference between the two. and threads that differentiate or equate trading with gambling pretty much over time.
people talk a lot about investing or trading with an easy theory, buy low and sell high. that's probably what you would think of as gambling. but those who put their money into holding Bitcoin do not make that thought so simple.

[Nwada001]

So having made all this comparisons, do you think that bitcoin can be classified as gambling?

When people talk about what you can afford to lose as advice regarding investment safety, it doesn't necessarily mean that those funds will be lost completely just by buying and holding some Bitcoin, unless the buyer chooses not just to hold but get involved in trading activities that he knows nothing about, which could completely liquidate their holdings, especially when they get involved in high-leverage futures trading.
 
But when it comes to buying and holding some Bitcoin, the advice to invest what you can afford to lose is based on the volatility of Bitcoin, which makes the price change constantly. If you invest all of your Capital in Bitcoin and the price happens to go against your prediction, the result won't really be nice at the investor's end. But when you invest what you could possibly afford to lose, there is a possibility of you not panicking even in the worst bearish season because your hopes of surviving are not on that investment. But one thing is for sure: no matter the rate at which the price of Bitcoin seems to drop, the hope of regaining back all the recorded losses is still strong, provided that you are still holding your Bitcoin and not selling it off out of panic.
 
While for gambling, when one makes the wrong prediction, there is no chance of regaining the amount spent. You will have to keep on putting more money into other games in order to gain back what you have lost in previous games, which if the chances all depend on luck, you will end up losing more until you are completely drained.

[Fuso.hp]

Gambling and trading are two different things. Gambling means betting on something that if you lose the bet your money will vanish and if you win your money will be doubled but in case of trading there is no such condition. Money may increase or decrease but it is not likely to vanish completely like gambling or double profit. Strategy is not very useful in gambling but strategy is very important in trading. People who understand trading well choose trading as their profession because there are more chances of profit if you understand trading. Gambling is somewhat dependent on luck.

[Adbitco]

It gets me weird whenever people trying to classify and categorize bitcoin investment as a gamble because I don't see quality or similarities to term them together as one, how and why?
Listen, bitcoin is 100 percent far more better than gambling despite we all uses this terminology " invest what you can afford to lose" yes I know is not directly pointing at bitcoin rather to other shity altcoin out there.
Bitcoin investment is more safe and than gambling, placing a bet with $1k is like a game of probability where you don't know the outcome of it it could be winning or losing but, chances of losing in gambling is more than the chances of winning.

Now let looks into bitcoin investment, when you invest $1k to bitcoin at ~0.033BTC priced at $30414. If the bitcoin price reduces to $27k within  72hrs you still left with that same fraction of 0.033 btc and, when the market turns back $40k you may have higher in price but with same fraction of bitcoin. So tell me why should people keeps classifying bitcoin to gambling where you place a bet to lose or win.
I think similar topic has been created already, maybe next try using the search option to find them out.

[BD Crypto]

My simple definition of gambling is "try your luck", because you don't know what will be the outcome of the game that you staked. Although calculation is involved in gambling, like forecasting and permutations to predict winnings. In the end it is fifty fifty or sixty forty chances of winning. At the same time you can not accurately predict bitcoin , because of it's volatile nature. You're not 100% sure whether you'll win or loose.  Furthermore, I've leant on this forum that it's better to invest in bitcoin, with what you can afford to loose, meaning that it's not safe to invest your main capital. This is where I think that bitcoin is like gambling, because despite the accurate knowledge of bitcoin chart, you're never too certain of making gains, just like in casino, online betting and the rest.

You just mixing the concept of Bitcoin and Gambling. They are fully different but in many cases their strategy looks like same but if you focus on every volatile things you will think it also as a gambling.

Bitcoin is a store of value like Gold or Silver and it's price increase or decrease according to demands. So we are almost sure about it's potential for the future. But gambling will remain same. Gambling is like a game where you have to choose yes or no as example. Because of uncertainty of Bitcoin price you can't say this gambling. Day by day people will adopt Bitcoin and it's volatility will decrease and usecases will increase. But some blind traders trade or invest like a gambling mostly in future trading.

So you can use your gambling startegy in Bitcoin trading but can't implement a proper trading strategy in gambling. Hope you understand.

[tranthidung]

For some time now I've been pondering on this matter, because I see similarity between bitcoin trading and gambling, so I'm wondering whether they're the same thing.

If you always gamble with your decisions, you will see gambling and trading are the same.

My simple definition of gambling is "try your luck", because you don't know what will be the outcome of the game that you staked. Although calculation is involved in gambling, like forecasting and permutations to predict winnings. In the end it is fifty fifty or sixty forty chances of winning. At the same time you can not accurately predict bitcoin , because of it's volatile nature. You're not 100% sure whether you'll win or loose.

When you trade because you feel this entry is good, that entry is bad but only base on your raw feeling and does not base on any technical analysis, fractals, you are doing gambling in trading.

You can be wrong with your trading position but you must not open any position if you see reward /risk is smaller than 3/1. When you apply this rule for risk/ reward management, you will reduce your risk to lose in trading.

Anyway, trading is risky and you will have a better strategy to use your capital if you don't trade but invest.

[passwordnow]

There is a large difference between gambling and Bitcoin trading. It's often compared because many have observed that it's likely having both similarities.
If you're going to search on this section, you'll see the early topics that's been made about it and you'll see various thoughts about it but ending up with the same idea that it's just all about risking.
Just as a gambling, there are definite games wherein you can use strategies and analysis and that's the same in Bitcoin and in trading in general.

[palle11]

My simple definition of gambling is "try your luck", because you don't know what will be the outcome of the game that you staked.

That is what it is I think so because most people gambling still talk about how they were lucky or not.

From my observation, people don't have much regards for gamblers, they either see them as lazy people who don't like to work, or people who want to take shortcut to get rich.

Maybe in the past but now the narrative has changed either because of the economic hard realities across the world. And the world has really moved out from a box and analyse things differently, technological growth etc. There are different types of games also so you expect that gambling interest should increase

Although people are entitled to their opinions, but I don't like to categorize bitcoin in this group of " try your luck ". I know bitcoin is of a higher level, it's a decentralized digital currency that you can use to make transactions, at the same time you can cash in when the coin appreciates., or even trade it to make profit.

So having made all this comparisons, do you think that bitcoin can be classified as gambling?

This is the point. Gambling and trading are different. You can stop your loses in trading by using stop loss but staking a bet you can't stop it or reduce the rate of your lose until the game is finished. Trading involves more critical analysis than what you have in gambling.

[GeorgeJohn]

Holding bitcoin is not the same thing as trading bitcoin. Gambling and trading are not the same thing too. Trading require you to learn trading skills but gambling require just some strategies. Trading can be risky like gambling, but they are not the same thing. If the price of bitcoin fall already, you can invest for months or years and you will most likely gain.

Do you know that some people contradict the two, when some is in buying and holding bitcoin for long term or short term investment, some people who is new in cryptocurrency especially in bitcoin investment do think that they are trading, you can trade a bitcoin in normal trading but its different from bitcoin investment. The aspect of gambling I think that you did give op a clear clue of the different between gambling and trading very well, but I can as well like op to research the difference between gambling and trading, so that through his findings it will be able to come up with a comprehensive understanding of both.

[nelson4lov]

So having made all this comparisons, do you think that bitcoin can be classified as gambling?

I've come across this often times when people try to categorize bitcoin and crypto trading with gambling. I see this often on Twitter but at the end of the day, it's clear that there are two times of traders:

• A trader who gambles
• A trader who takes well calculated risks and proper management.

Not a lot of people understand it and because they don't, they'll just say it the way it looks like from the outside. Trading is a skill to be learnt. If all traders who lost majority of their capital trading bitcoin actually took out time to learn and Master the skill, I'm sure the story would've been different.

[avikz]

Why just bitcoin trading? Even stock market trading can be considered as gambling if you look at it. Trading activities are usually based on predictions and it's somewhat same with gambling. So any kind of trading activities where you aren't sure about the outcome, can be safely considered as gambling activities.

But unfortunately, trading is legal in most of the countries where gambling is not.

[SamReomo]

So having made all this comparisons, do you think that bitcoin can be classified as gambling?

I have gone through the whole article and I would classify Bitcoin as non-gambling because it's a different thing from gambling and someone who knows Bitcoin very well will make money because of its volatility. The Bitcoin's price is predictable and if someone who is good at crypto-trading then no doubt that the person can earn enough returns from his/her investments and trades.

Gambling is a totally different thing and there is no proper strategy for a gambler other than the luck factor. I have always been saying it and I will say it once again that gambling is purely dependent on someone's luck because only a lucky person can have profit in gambling. Those who don't have a good luck should try stops betting instead of betting on the games that are purely luck oriented.

[Mpamaegbu]

So having made all this comparisons, do you think that bitcoin can be classified as gambling?

Your confusion around the subject matter is expected, coming from an inexperienced background of what online trading is. Bitcoin trading is like Forex trading where exchange of one item for another is made. It's a clear cut from gambling. A gambler only hopes to get to their dream with just cash staked to catch fortune overnight. Again, the average disposition of a gambler is that of recklessness and wildlife with smoking, womanizing, clubbing and all that. In Nigeria such are seen as acts of irresponsibility.

From my observation, people don't have much regards for gamblers, they either see them as lazy people who don't like to work, or people who want to take shortcut to get rich.

Well, you can also add the desperation part to the mindset of gamblers. I think that's even what scares people more. Anyone who's desperate can "do and undo" like we say in my local parlance. Maybe I judge this too harshly and that can simply be because of the way gamblers behave on the average.

[RewFrew]

I think Trading and gambling are fully different. Trading is like buying share, here anyone can buy a coin or token then it’s price will increase or decrease. If price increase he will be profited and if price decrease then he will be losser or he will hold his token. On the other hand gambling is one kinds of game like betting if anyone will he will gate double and if he were loser he will loss all fund. In gambling depend on luck. So i think trading and betting fully different.

[KingsDen]

Although people are entitled to their opinions, but I don't like to categorize bitcoin in this group of " try your luck ".

Bitcoin is obviously not gambling. Buying bitcoin is an investment and also trading bitcoin is a skill youneed to learn in order to know how to trade and make profit just like forex trading. It is not gambling but a layman watching from outside may categorise trading cryptocurrency and gambling at same. There are similarities no doubt, but the difference is much.

You can only call cryptocurrency investment or trading gambling when the person involved is only buying shitcoins. This is because shitcoins can make someone overnight and can equally mare them overnight. Shitcoins investment is gambling

[Mahanton]

Although people are entitled to their opinions, but I don't like to categorize bitcoin in this group of " try your luck ".

Bitcoin is obviously not gambling. Buying bitcoin is an investment and also trading bitcoin is a skill youneed to learn in order to know how to trade and make profit just like forex trading. It is not gambling but a layman watching from outside may categorise trading cryptocurrency and gambling at same. There are similarities no doubt, but the difference is much.

You can only call cryptocurrency investment or trading gambling when the person involved is only buying shitcoins. This is because shitcoins can make someone overnight and can equally mare them overnight. Shitcoins investment is gambling

There's always a fine line in between trading/invest and gambling on which it would really be just that normal that there's really a risks accompanied with these things but on a different level. I cant blame out though into those people who would really be having the impression on making trading crypto would really be a gamble. Yes, its a gamble on the sense you are risking your money but at the same time it isnt considering that you could be able to apply some analysis and technical approach into it on which it would really be creating out that kind of advantage on which you cant really be able to get on pure luck based games.
Its a different category and its up to someone whether they would really be having that kind of gambler like behavior on the time that they would trade or would really be doing those casual stuffs.
Entertainment and an activity which does involved investment or making profits is really that totally different. Its impossible for someone not to be able to compared between two
on just using up their own common sense.

[GeorgeJohn]

I think Trading and gambling are fully different. Trading is like buying share, here anyone can buy a coin or token then it’s price will increase or decrease. If price increase he will be profited and if price decrease then he will be losser or he will hold his token. On the other hand gambling is one kinds of game like betting if anyone will he will gate double and if he were loser he will loss all fund. In gambling depend on luck. So i think trading and betting fully different.

The only different between both is that in trading it has skill and when you are acclimatised with the skill you won't be able to victim of trading in the aspect of loss, whereas gambling have no skill or methodology to skip losing in gambling,  so I believe that gambling is opportunity that deals with luck so when you are lucky enough is when you will experience wining in gambling, so you can not compare gambling and trading but only thing that make them similar is the risky which is involve in both.