Bitcoin and gambling which one has done you more harm

[Crypto Library]

I don't really understand that why people were creating these kinds of comparisons between on Bitcoin and gambling. First of all I want to say that this question is absurd. Because people gamble for entertainment and those who consider it as a source of investment i.e. earnings source and regularly become addicted to gambling, I am sure that they suffer more from gambling for this reason.
Even then if I say about myself then I have to say that Bitcoin is a blessing for me not harm. Because since I was introduced to Bitcoin, my income source in my student life as well as currently all my payments are in Bitcoin, and I am investing in Bitcoin for the long term and I am optimistic that even if it takes some time, I think I will get profit from it.

[MFahad]

But for me I think gambling is the one that done people more harm than bitcoins investment, because almost every day people gamble with different platforms but its few of people that invest in a day or weekly, I will like us to discuss these.

Bitcoin investment can maximise your return but gambling will completely disappear your money. In bitcoin investment one you putted money then if market is not suitable then you can wait more to obtain the profit but in gambling you just bet at once after which conclusion of your profit or loss will appear.

One who think gambling and investment are same cannot take advantage of investment and will always be captured into circle around which risk will be evolved around. Try to understand that what is investment and how it differs from gambling then your understanding will aid in your profitability.

It also don't guaranteed that in gambling you will face failure and in investment you will 100% successful because both are unpredictable but investment gives you chance to minimize losses and wait until you achieve your goals which is not possible in gambling.

[Ale88]

When we gamble what we are looking after or expecting is money which is [profit] and when buy bitcoin and invest what we are looking after is [profit] and when you so many people they skip bitcoin investment to gamble and some uses very big amount of money to gamble whereas the same amount of money will achieve some fraction in bitcoin investment. So I come with this question to know the thing between this option or words I presented the one that done you more harm, if bitcoin  has done you more harm during the times you invested in bitcoin you can tell the public and if gambling has done you more harm by losing in gambling frequently you can also tell the public.

But for me I think gambling is the one that done people more harm than bitcoins investment, because almost every day people gamble with different platforms but its few of people that invest in a day or weekly, I will like us to discuss these.

Gambling is bad when it becomes an addiction otherwise it's just another way to spend money: going to a pub and spending $50 in alcohol is pretty much the same that betting $50 on a football match, they are both things that you can do because you enjoy them but you must know you need to limit yourself. I used to bet on football matches in high school because it was fun doing it with my classmates but when I noticed I was starting to spend too much time thinking about the next bet I decided it was time to stop and I never made bets again.

Bitcoin could be a bet if you buy for the short term, if you hold then it's an investment.

[darkangel11]

This is such a strange wording. How can inanimate object harm you by itself?
It's like asking someone ho many times they were harmed by a sawing needle. Why don't we ask it this way, but instead say "how many times did you prick your finger with a needle?" Get it?
Even if we ignore the above, I was never hurt by bitcoin and I never will be. I've been a bitcoiner for many years and it's not going to change. Bitcoin is literally the best investment I did in my whole life and I regret not knowing about it earlier. I'm also a gambler and I've lost some money doing it, but I keep things under control.

[Jating]

When we gamble what we are looking after or expecting is money which is [profit] and when buy bitcoin and invest what we are looking after is [profit] and when you so many people they skip bitcoin investment to gamble and some uses very big amount of money to gamble whereas the same amount of money will achieve some fraction in bitcoin investment. So I come with this question to know the thing between this option or words I presented the one that done you more harm, if bitcoin  has done you more harm during the times you invested in bitcoin you can tell the public and if gambling has done you more harm by losing in gambling frequently you can also tell the public.

I'm sorry but I don't agree with the analogy of gambling vs bitcoin as a investment. Gambling is a bigger risk, you don't have total control over it, and it's based mostly on pure luck. As for bitcoin investment or any other investments for that matter, you just have to be a holder for long term, uses strategy like DCA and then sit and relax and wait for the right time to sell.

But for me I think gambling is the one that done people more harm than bitcoins investment, because almost every day people gamble with different platforms but its few of people that invest in a day or weekly, I will like us to discuss these.

Again, it's obvious as I have explain, you really need to be lucky just to win money in gambling. And the chances are not in your favor most of the time. Just look at the house edge. Or even worst, look at the odds of winning a lottery.

[Olalomi]

There is obvious a distinct differences between gambling and investing in Bitcoin, gambling is a very risky adventure especially to those who gamble with a huge or massive funds or addicted gambler and investment in Bitcoin is a sure investment whose risk is very minimal if not in existence because even buying Bitcoin at the peak price doesn't end up as a loser except if the investor decided to sell or dump it no matter the longevity of the period of price dump there going to a period when the market would rally upward such that investors who bought at the peak would break even or make some little profit if they had hodl their coin.

[Twentyonepaylots]

These things, gambling and bitcoin cannot harm you in any way. What you might mean is what you get when you engage in both of these things.

The truth is no one is harmed when they gamble, unless you lose yourself and lose all your possessions, money, house, car, etc. Same thing with bitcoin, you won't be harmed unless you bought it with all your money during all-time high and can't feed yourself, and your family now. The fact is we only hurt ourselves, when we expect too much from something and it does not ended the way we want it to be it'll hurt us. Say you gamble or invested in bitcoin and turned out that you lost, that feeling hurt.

But I must say, I lost more on gambling than Bitcoin or any cryptocurrencies  

[Rengga Jati]

But for me I think gambling is the one that done people more harm than bitcoins investment, because almost every day people gamble with different platforms but its few of people that invest in a day or weekly, I will like us to discuss these.

I would still say Gambling.
However, with Bitcoin, we can manage the risk so that it is not too big and does not become gambling. We can prepare ourselves with knowledge about Bitcoin, based on the security of ourselves and various parties, with good risk management, strong mentality, and also financial who are healthy, then we may be able to minimize the risk. This doesn't mean we will eliminate all risks, no, but to minimize risks. We can use Bitcoin for long term holding if we cannot afford risky trading. So we can pamper him better. This is different from gambling. The higher the risk, the more harm it will be for us. Although in the end it will also depend on each individual,

[Yamifoud]

These things, gambling and bitcoin cannot harm you in any way. What you might mean is what you get when you engage in both of these things.

The truth is no one is harmed when they gamble, unless you lose yourself and lose all your possessions, money, house, car, etc. Same thing with bitcoin, you won't be harmed unless you bought it with all your money during all-time high and can't feed yourself, and your family now. The fact is we only hurt ourselves, when we expect too much from something and it does not ended the way we want it to be it'll hurt us. Say you gamble or invested in bitcoin and turned out that you lost, that feeling hurt.

But I must say, I lost more on gambling than Bitcoin or any cryptocurrencies  

What do you call those bold letters mate? That was the cause of getting into a gambling addiction and it is harming you not only financially but also mentally as it creates an impact on your mindset and thinking. This is the outcome of thinking that we can earn more from gambling so we spend more money on gambling but making us spend less in investing in Bitcoin.

It is very unfortunate and most of us commit mistakes because we assume that all our decisions would be right. We can gamble, yes but it should be on limitations. The same thing when it comes to trading and investment because at the moment we go beyond that, we are also creating problems.

[BitcoinPanther]

The topic is an easy question to answer.  I never lose money on Bitcoin so it is easy to say that gambling is the one that has done me some manageable harm since not all my gambling sessions a winning sessions, more often I lose my allocated free money on a gambling platform.

Many people say this kind of statement: if one is patient enough to wait for their Bitcoin holdings to grow in price, no one will lose money investing in the Bitcoin market.

[GeorgeJohn]

In this scenario gambling is totally different from Bitcoin and you can't equates the bitcoin value with gambling values, this are different kind of things I have ever seen in bitcoin, actually bitcoin is something I know that have to deal with timing before it will get accelerated while gambling is not even base on predictions but typically base on luck, I I dont know while people evaluate gambling with bitcoin almost every time in terms of profit making.

[sokani]

But for me I think gambling is the one that done people more harm than bitcoins investment, because almost every day people gamble with different platforms but its few of people that invest in a day or weekly, I will like us to discuss these.

The answer is crystal clear. When we invest in Bitcoin we're very certain of realizing some returns no matter how long our investment might take. All that is required is to have good knowledge of the market, buy during the bear season and sell during the bull season. While gambling does the opposite, there's no guarantee that we are going to win our bet no matter how skilled or good we are in a particular sport or game, no matter the hours spent in researching, bad days and loss are part of it. Sometimes we might fall into addiction and it could costs us our relationships, jobs and health. So both of them are incomparable and gambling has done more harm than good.

[barisbilgili]

But for me I think gambling is the one that done people more harm than bitcoins investment, because almost every day people gamble with different platforms but its few of people that invest in a day or weekly, I will like us to discuss these.

The answer is crystal clear. When we invest in Bitcoin we're very certain of realizing some returns no matter how long our investment might take. All that is required is to have good knowledge of the market, buy during the bear season and sell during the bull season. While gambling does the opposite, there's no guarantee that we are going to win our bet no matter how skilled or good we are in a particular sport or game, no matter the hours spent in researching, bad days and loss are part of it. Sometimes we might fall into addiction and it could costs us our relationships, jobs and health. So both of them are incomparable and gambling has done more harm than good.

Of course everyone will answer that gambling will be more detrimental and both of these things have a level of risk of losing the money we have, you are right that by investing in bitcoin it takes a long time to get a profit and if the price goes down we can still hold it to be able to get a profit later However, in gambling, if we lose, of course we lose all the money we have, even though there are several types of gambling that we can predict, it doesn't necessarily mean that what we predict is correct and makes us win.

[Bitcoin_people]

It is never a wise thing to compare Bitcoin and gambling together. People who make such representations are unintelligent people. If a bitcoin user is asked to gamble he will refuse it, because a bitcoiner is never interested in gambling. When public people gamble they are the biggest criminals in society's eyes and if they lose money they are still gamblers who are bad people in everyone's eyes. But when a bitcoin user invests he must intend to profit from it and investing in bitcoins is never a bad thing. Gambling can make you twice as much money investing in Bitcoin as you lose. Of course, if you use Bitcoin for a long time, you can avoid gambling. That's why people are more interested in Bitcoin than gambling now and Bitcoin can't be compared to gambling Bitcoin is a future asset.

[bluebit25]

If I look at it purely as a game, I will choose Bitcoin because I don't need too much time to observe all activities.

But it is clear that this comparison is not fair on the subject, as if we were talking about one field and another broader field covering it. But it's clear that stress is always a must here, which is why I come into contact with people in the crypto or gambling industry who often have the habit of staying up all night.

[knowngunman]

But for me I think gambling is the one that done people more harm than bitcoins investment, because almost every day people gamble with different platforms but its few of people that invest in a day or weekly, I will like us to discuss these.

The comparison is incompatible but for the sake of discussion we'll analyse both pairs. Personally, and almost everyone here who has tested both gambling and bitcoin will testify that gambling in no doubt does more harm than bitcoin. In gambling, you lose all your money (capital) within a blink of an eye or in few seconds, minutes or hours as the case may be. Which harm is more than that? In bitcoin, even if you are to lose your money, it won't be all instantly but on a gradual process which you have a chance to either abort your investments or keep monitoring for bounce back.

As to the number of people that invest in a day, there's no doubt that daily gamblers supercede daily investors but you can not how few or large investors are because anonymity is part of bitcoin features and you can not expect people to be advertising or announcing about their investment for privacy reasons. We play gambling and share tips with each other because we want the fun and entertainment to continue.

[Nrcewker]

The thing that does more harm is you yourself. Everything is controlled in your hands only. You are only responsible if you are facing any losses. You need to understand that when you buy Bitcoins and expect profit from it, it’s considered as investment. Now investment and Gambling are completely different entities. If we see and compare directly, then in gambling the risk of profit along with loss is high, whereas investment provides low returns with low risk. So here is the answer of your question, gambling will always cause more harm if luck doesn’t favour you.

[bounceback]

But I want to ask you if there are any similarities between bitcoin and gambling?  I mean comparing bitcoin to gambling, is it fair? One side is potential wealth and the other side is gambling. I don't think gambling has enough potential to compare to bitcoin or any other asset or financial market. Gambling is gambling and investing is investing, we should not make such lame comparisons. Why does no one compare gambling to stocks or forex, while we as bitcoin investors compare it to gambling?

Yes, I also wonder why nowadays some people often compare Bitcoin with gambling, even though we know that gambling is an opportunity to have fun and is not categorized as an investment, even though Bitcoin is clearly a worthy choice to make as a short-term or long-term investment.

To answer Op's question, in my opinion it all depends on each individual because gambling and investing in bitcoin can both make someone lose everything if they can't control themselves and without basic understanding when doing it.

[Gladitorcomeback]

Gambling is totally different from investing in Bitcoin. lets me describe the difference. In gambling one user will lose 100% because gambling work on direct take/give phenomenon. we cannot say that two people gamble with each other and both wins. One user win has direct propertion to the loss of others.
In btc investment It is not necessary that one user profile will gives other user loss and possibility of profit for both is very possible. Lets suppose you sold btc at 25k with 2x profit and other user hold for long term and sell above 50k$  then you both made profit. There is no instant loss and profit.

In short gambling working on direct win/loss. If 50k times win happen then 50k times loss will also happen while BTC working just like business where you invest and use different strategies to make money. Profit and loss is possible but no one will say that he chooses bad way. People will only blame for poor strategy which become reason for loss.

[xSkylarx]

Those people that are telling the public that Bitcoin has harmed him financially are dumb people because it is his mistake to lose some money on it. Just imagine that kind of person jumping into bitcoin because of the trend when the price got to ATH and you are thinking blindly that you will buy as the price continues to rise but turns out not and then that is the time you are telling the public that Bitcoin was a scam.

In gambling it is not only the platform but as a whole because gambling is always gambling it is for fun and not for investment and if you lose and tell the public that it harmed you it is your fault as you are unable to control yourself.