Bitcoin trading and gambling

[Yawa2020]

snip

Bitcoin trading and gambling are not the same despite that they share some similarities. In trading, you have full control of your asset and you can exit the market if you observe the negative market. You will lose some money but not all. In gambling, once you click on stake button then, consider your money gone if the game cut.

[jeraldskie11]

If you don't know what you're doing in trading that's the time you can say it's gambling. Trading can be a source of income if you know what you're doing. Trading with a plan and profitable strategy makes you increase the probability of winning. We all know that there's no strat with100% win rate but base on our backtest the strategy is working. So if you always follow your trading plan in trading, and not depending on the luck, you're not gambling.

[Rengga Jati]

.....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....

Actually this is quite different, in Bitcoin trading, there are several steps that can be taken to deal with things that cannot be predicted accurately, this is to reduce the risk of loss when trading Bitcoin. Just like applying SL, Hedging, and several other strategies. In addition, market analysis is actually quite influential. Even though no one can predict the market exactly 100%, however, usually what happens will not be too far from what is being analyzed. Unless there's something that suddenly makes the market change direction quickly, there's also a process so we actually sometimes still have time to deal with it as a way to reduce risk. Not only that, there are several types of Bitcoin trading, not just buying and selling and getting profits because of luck, isn't it. There are several steps that can be taken, there are several ways to analyze, and there are several steps to avoid the risk of losing 100%. But when it comes to gambling, do these steps exist?

[Hamza2424]

Bitcoin trading and gambling are not the same despite that they share some similarities. In trading, you have full control of your asset and you can exit the market if you observe the negative market. You will lose some money but not all. In gambling, once you click on stake button then, consider your money gone if the game cut.

I am more curious to know how they share some similarities. Like really how haha. if you are holding BTC BTCin your personal wallet how you will lose money? Besides you should say for the temporary time frame or for a particular time span the value of your holding might fluctuate but it doesn't means that you will lose anything.

I you really think its a loss than I cant say anything, if anybody else feels like this I would recommend being patient and wait for the moment of truth you will not regret exiting the market in loss.

[noorman0]

For some time now I've been pondering on this matter, because I see similarity between bitcoin trading and gambling,

Maybe this refers to the type of trading with certain settings, in fact you can adjust the trading theme according to mood, not least if you want to feel the thrill of gambling in trading.
Your choice is the spot market if you want casual trading without much risk of loss, and futures trading with high leverage and no analysis(to really risk your luck).

[GreatArkansas]

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

This is an already aged discussion which really at first, it's quite confusing for some people.
There are lot of kinds of gambling which for me gambling really acquired huge percentage on "luck" some could be skills (depends on what gambling)
While on trading, I can see the huge percentage here is skills and somehow on the other part, there's luck here but a very small percentage.

So for me, trading and gambling are far different from each other. Because trading is not only for luck.

[xSkylarx]

It's because you think of gambling as a source of income, which is why you are saying that it involves calculations like probability and also forecasting, and you think that trading is also the same, which is true, but this is where they differ: Trading was made for investing and gambling is made for fun. In gambling, even if you are calculating the risk and probability, you'll still lose, and you can't learn a lesson from it because it is a loss because the house is always on the edge, unlike in trading, where if you lose, there is something behind it, like a news story or you forgot one of your strategies. It has all the explanation, and over the years, you make fewer mistakes, unlike in gambling, which stays the same.

[TheUltraElite]

In my opinion trading can be both gambling and not gambling depending on how you are seeing it. Trying to do risks spot trading on altcoins, it becomes a full gamble. With non-spot trading types, you are again fully gambling. The only non-gambling trading is bitcoin on spot market.

But it is natural to be inclined towards risky trading and therefore bitcoin spot trading is the least attractive for newbies. This should be decided by the trader as to how much risk they can handle with knowledge of the rewards

Trading is an EV+ gambling in a broad spectrum definition. Just do it as long as you are comfortable in it.

[Kelward]

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

This is an already aged discussion which really at first, it's quite confusing for some people.
There are lot of kinds of gambling which for me gambling really acquired huge percentage on "luck" some could be skills (depends on what gambling)
While on trading, I can see the huge percentage here is skills and somehow on the other part, there's luck here but a very small percentage.
 
So for me, trading and gambling are far different from each other. Because trading is not only for luck.

Your analyses are very clear, you really simplified it, gambling depends mainly on luck, while while bitcoin trading depends mainly on skills. Although you still need a little luck or skills of either one to complement the other, but in all I think that one common factor that they both share is risk. But obviously there is much lesser percentage of risk in bitcoin, compared to gambling. I can deal with risk, so far the reason for the risk is well understood and worth taking, because everything about making progress in life requires some percentage of risk.

[Desscount]

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

This is an already aged discussion which really at first, it's quite confusing for some people.
There are lot of kinds of gambling which for me gambling really acquired huge percentage on "luck" some could be skills (depends on what gambling)
While on trading, I can see the huge percentage here is skills and somehow on the other part, there's luck here but a very small percentage.

So for me, trading and gambling are far different from each other. Because trading is not only for luck.

I agree with your explanation about trading and gambling,
in gambling it relies more on luck and we cannot expect success in gambling so it is the same as wasting our precious time and wasting money,
here the ones who will continue to profit are the bookies so I really avoid gambling.

[ItsCrafty]

I agree with your explanation about trading and gambling,
in gambling it relies more on luck and we cannot expect success in gambling so it is the same as wasting our precious time and wasting money,
here the ones who will continue to profit are the bookies so I really avoid gambling.

Depending on how you utilize it, there are several angles from which you can view it. I believe that investing in Bitcoin may appear to be a financial activity where you research market trends, evaluate your risk, and make well-informed choices to maximise your returns. Research, strategy, and risk management are frequently used in this type of trading. However, those who view Bitcoin as a type of gambling may take part in speculative activities without conducting adequate research or comprehending this technology. Instead of relying on information or experience, they can rely on luck. In general, it's crucial to approach Bitcoin with information, research, and conclusions that are well-informed.

[Inwestour]

I am more curious to know how they share some similarities. Like really how haha. if you are holding BTC BTCin your personal wallet how you will lose money? Besides you should say for the temporary time frame or for a particular time span the value of your holding might fluctuate but it doesn't means that you will lose anything.

I you really think its a loss than I cant say anything, if anybody else feels like this I would recommend being patient and wait for the moment of truth you will not regret exiting the market in loss.

The fact is that not everyone can withstand this period, when the balance on their wallet is significantly reduced due to the price drop. Those who sell during this period will lose money, but this is a rather long process and it will not happen as quickly as in gambling.

In any case, it is not worth comparing bitcoin trading with gambling, especially long-term trading, because these are different things. With proper understanding, buying bitcoin for the long term is almost a win-win option, and gambling contains much more risks and gambling is much more dynamic than long-term trading. You can always find a less risky option if we are talking about bitcoin, but it’s hard for me to say this about gambling.

[goaldigger]

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

Bitcoin itself is not a gambling but if you do some actions that are more about gambling, then you can consider it.
This two has been compared for many times, and there's still no correct answer here because it will always depend on your own perception.
For me, Bitcoin is more as an investment asset and not just a crypto currency, again this is my own perception and I'm sure some will not agree on this.

[palle11]

Bitcoin itself is not a gambling but if you do some actions that are more about gambling, then you can consider it.
This two has been compared for many times, and there's still no correct answer here because it will always depend on your own perception.
For me, Bitcoin is more as an investment asset and not just a crypto currency, again this is my own perception and I'm sure some will not agree on this.

There is standard to things whether opinion different or not and such standard is from majority of the general opinion just as your opinion is that bitcoin is more of investment asset. So trading is not gambling like gambling is also not trading. Many responses here have followed the same line as yours. Trade is a more calculated indices which are futuristic and realistic unlike gambling whose main principles stand on luck and prediction.

[MFahad]

It will be correct if we say that some people consider trading as a gambling but not everyone but remember that those who consider trading as a gambling will get the same results as that of gamblers get and will loss their whole money. Traders who thought that trading is a gambling does not have any idea and knowledge about trading but they become a part of it without knowing anything which is compulsory.

Trading and gambling both are very different from each other as we have to understand about the basics of trading, select those coins which has the potential to be more worthy in future but in gambling learning and knowledge are not necessary as everyone believes that those who are lucky will be more successful.

[omgitsmehehe]

If you don't know what you're doing in trading that's the time you can say it's gambling. Trading can be a source of income if you know what you're doing. Trading with a plan and profitable strategy makes you increase the probability of winning. We all know that there's no strat with100% win rate but base on our backtest the strategy is working. So if you always follow your trading plan in trading, and not depending on the luck, you're not gambling.

They both depend on luck for us to be profitable in the space. Trading without appropriate information and strategy can be considered gambling, and it appears in both sectors. Traders with no trading experience are gambling with the market. Bitcoin has global recognition; even ordinary individuals understand what bitcoin is and the complicated information moving around it. Some argue that gambling is nothing more than calculated statistics and forecasts, while others argue that it is pure luck, which would only make gambling more exciting.

[Bushdark]

snip

Bitcoin trading and gambling are not the same despite that they share some similarities. In trading, you have full control of your asset and you can exit the market if you observe the negative market. You will lose some money but not all. In gambling, once you click on stake button then, consider your money gone if the game cut.

Bitcoin trading is the same thing as normal trading of coins that we used to trade on with two pairs. Becoming profitable is trading is something that we need to work on looking at the market chart and trading accordingly to the signal that we have gotten from analysing the market.

If we are a good fan of coin projects that is always pumped and dumped, then we need to make sure that we just don't look at market chart to trade but also get some fundamentals about the particular coin we are trading so that we are not going to miss the market direction if the coin eventually is pump which is surely going to lead to dumping and could after our trade if we don't trade to the direction of the market.

 Many people have lose some fortune because they are not aware of the fundamental that is taking place during there trade in the market of the coin pair they are trading. This is one of expect we need to keep our eyes to get more profits from the market as a wise and smart trader. Gambling is different from trading but can be related is some certain aspects so we need to know what we are doing and what we really want.

[Xampeuu]

If you don't know what you're doing in trading that's the time you can say it's gambling. Trading can be a source of income if you know what you're doing. Trading with a plan and profitable strategy makes you increase the probability of winning. We all know that there's no strat with100% win rate but base on our backtest the strategy is working. So if you always follow your trading plan in trading, and not depending on the luck, you're not gambling.

They both depend on luck for us to be profitable in the space. Trading without appropriate information and strategy can be considered gambling, and it appears in both sectors. Traders with no trading experience are gambling with the market. Bitcoin has global recognition; even ordinary individuals understand what bitcoin is and the complicated information moving around it. Some argue that gambling is nothing more than calculated statistics and forecasts, while others argue that it is pure luck, which would only make gambling more exciting.

gambling or trading depending on the knowledge of the trader himself. without knowledge, traders are gamblers who only rely on luck. but traders who have previous analysis then move according to the framework. so losses or profits are well coordinated, thus creating a healthy trade. and traders like that that are usually sought by corporations to become partners, because everything is measured properly and earns profit logically according to the target stated on the chart

[gunhell16]

Those are your assumptions, and I noticed from what you said that you also contradicted what you mentioned, you know that Bitcoin is a decentralized digital currency that can be used in transactions whether cash-in or cash-out, trading for us to earn. You were right about this.

You mentioned that the level of Bitcoin is high and then in the end you say that Bitcoin is like gambling, which means you don't understand its concept 100%. That understanding that Bitcoin is the same as gambling is the attitude of a gambler and not the attitude of an investor. That's why investors see bitcoin as assets that will give you profit in the future, in short, you know that you will get some profit here, it's far from gambling where you hope that you might get lucky. It's not like that with Bitcoin when you buy it and hold it for a few years.

[UchihaSarada]

You mentioned that the level of Bitcoin is high and then in the end you say that Bitcoin is like gambling, which means you don't understand its concept 100%. That understanding that Bitcoin is the same as gambling is the attitude of a gambler and not the attitude of an investor.

Any decision has risk and probability to fail so it is gambling somewhat. By doing due diligent research and only invest in what you think it has many good fundamentals, you reduce risk and probability to fail. The gambling factor for your investment will be smaller but it is still there.

That's why investors see bitcoin as assets that will give you profit in the future, in short, you know that you will get some profit here, it's far from gambling where you hope that you might get lucky. It's not like that with Bitcoin when you buy it and hold it for a few years.

It depends on what cryptocurrency they invest in. They can have less risk by investing in Bitcoin but if they don't invest in Bitcoin and choose altcoins, they are increasing the gambling factor for their investment decision. I can not call them as gamblers and they don't consider themselves as gamblers too. After doing their research or due diligent research, they are more like investors but with altcoins, investing looks to like gambling.