Crypto is just like gambling.

[Olatundespo]

You first need to find out why you should avoid comparing crypto to gambling, then you need to consider why you should spend time and money here compared to other investments. These two financial issues should be separated where there is a possibility of giving you high profits and the possibility of losing money. Just as new investors are more inclined to make money than to be fair to themselves, new gamblers are in the same position to make money.

The risk of losing money in gambling is almost 100% if you keep losing and the chances of recovering it are very low/the chances of getting your money back are very low. When investing in cryptocurrency, you are pouring capital in the hope of making a profit which can be uncertain if there is no fairness in the crypto selection process. Wrong advice and investment decisions given by others can lead to money loss in the long run. Strong investment management and a determination to hold on for the long term can provide high profits.

[sotelorene]

My thought is,bitcoin is not like gambling.You can refer other digital asset in the crypto space to as gambling but not bitcoin.The reason why shitcoins are likened to gambling is because their outcome aren't certain unlike bitcoin that keeps introducing new ATH.Op are you referring all cryptos to as gambling because they aren't used for payment or what, because I still don't get that part that bitcoin is used because of it's store of value.The adoption of Bitcoin doesn't rely solely on its value for long-term investment, but also on its use as a means of active trading among merchants globally.

The truth is everyone can choose to believe or agree on Whatever they like that seems okay or convincing to them, people approach Bitcoin differently and what I mean by this is that some people gamble or trade Bitcoin because they feel they can and they feel that is the best for them while some people invest in Bitcoin and hold for years because they also feel and think that is the best way for them so either ways they are both correct with their definitions but what matters is the result they are getting at the end of everything, so yes Bitcoin can be seen as gambling because it is trade able.

[Princess Leah]

~To understand this, you need to understand the classification of crypto. There is one crypto which is Bitcoin. You cannot compare Bitcoin to gambling, because it is constantly increasing in value and creating new ATHs. Governments of different countries or various organizations in the world are watching Bitcoin.

You've said well dear, that was what I intended to respond to the OP when I first came across this thread, Crypto I'd a general word for all Cryptocurrencies be it Bitcoin, Alts and memecoins, so I expect that the OP should've been specific instead of generalizing that Crypto is just like gambling, Bitcoin is never like gambling and shouldn't be compared to it.

 Now back to the OP. Well, Satoshi's intention in the early days was to create and alternative to the fiat currency that's decentralized but along the line Bitcoin has evolved past that idea and now mostly used as a stored of value, anyways that doesn't warrant anyone to think it's compared to gamble because it's mostly used as a store of value than an alternative to the fiat currency.

[Slimzeee]

I dropped a thread on this sometime ago, and my point was:
The concept of crypto is based on predictive models.

Let’s take an example to make it a bit more relatable. There are some transactions you ought to do, but because you’re expecting the price of coins to rise or drop, you hold on and delay them. The worst part is, this outcome you’re expecting is totally not up to you.So what are you doing at that point,observation, prediction, management
So, what that simply means is you’re gambling with time, knowledge, and expectations, maybe a higher level of gambling sha then i can agree with that but the main thing is the market is not solely determined by you.
.
The good thing I took out of those arguments, anyway, was the fact crypto can be understood over time. A pattern can be observed, and that makes it a bit better than others like football or racing games.

[EarnOnVictor]

When I first came across is particularly statement (crypto is just like gambling) i was like those this person really know what he or she is saying. But  after given that statement some thought I came to understand that there is truth in the statement. Because if not for the money that we can earn from cryptocurrency investment I don't think many us would want to use it for transactions which is the primary use that was first mentioned by the invented.

You and whoever you derived the idea from are wrong. The misconception didn't start from crypto, but traditional trading in its widest sense. In the end, a sensible person will know that trading is not gambling, but still, you can gamble while thinking you are trading. The same goes for crypto while thinking you are trading/investing in it.

In a nutshell, your expertise in handling the two distinguishes you from being a gambler.

[Mighty97]

Crypto is not totally gambling, though it may seem that way but only depending on the way people look at it. When you buy and sell on the bases of hype or luck, then it is gambling. But if you treat it as an investment, having understanding of it risk, time horizons, and usage, it becomes nearer to speculation or even venture investing. Honestly speaking many people are into it for the profit, not necessarily for daily transactions, this makes its gambling comparison incompletely fair.

[Uhwuchukwu53]

There is one impression I don't agree with that a cooperate organization or company and country invested on something for profits can't make it a gambling I stand to be corrected as I perceived the idea, digressing into the world of business investor are future planners they oversee the future, in everything they do they always watch the pendulum of what they put in the money to avoid losses that will crackdown their investment, and Bitcoin has proven to be of that trajectory of good investment that secure future hope of not losing one investment, rather offer opportunity of gaining more as long as the investor stick to holding a long time period, no doubt profits is what derive an investor in any thing invest dream of but the primary objective of an investor is to surpassed losses while target profit which Bitcoin has given beyond measure above gambling except an investor that failed to stick to the rules that governs the system of holding.

[Alvin_talk]

Your point is valid but when looked from a different angle it looks like fallacy.

Crypto (Bitcoin) has lower risk of losing when compared to gambling, take for instance football gambling, the results are immediate, once the game is over you either win or loss, that is to say there is no long term growth.

In the other hand, even if bitcoin goes bearish (loss in this case), there is a high tendency it will go bullish (win in this case) again when you hold for a long-term.

For me, I see bitcoin as a long-term investment rather than gambling, that is why governments are currently cashing in. Remember, government don't gamble with funds, they invest. That is enough reason to tell you bitcoin is not necessarily gambling.

[Achalugo BTC]

To understand this, you need to understand the classification of crypto. There is one crypto which is Bitcoin. You cannot compare Bitcoin to gambling, because it is constantly increasing in value and creating new ATHs. Governments of different countries or various organizations in the world are watching Bitcoin.

Another is Altcoin, which is a copy of Bitcoin. Although Altcoin cannot pump value regularly, it is somewhat reliable and it does not depend entirely on luck, but it is investable in the long term.

But if you talk about Memecoin or Shitcoin, then I would say it is completely dependent on luck and it is not investable in the long term. Rather, you can buy and hold in the short term and if luck helps you will make a lot of profit, but most of the time you will lose. So you can compare it to gambling.

Not all cryptos are the same and not all cryptos are like gambling.

Exactly, gambling is something one can not easily predict and even if it’s predicted it’s not guaranteed for one to be successful through it but in case of bitcoin is totally different, even for it fluctuates at times but one can invest in it without the fear of losing it all, one can still benefit and become successful through if leave after a long time, that is to said if one invest into bitcoin for a long term investment, which is guaranteed.
So, bitcoin is not something one can be comparing with gambling expect one doesn’t know what they are doing, that is they didn’t get the right research about bitcoin, though it’s not something that is a easy going but it’s not something like gamble, bitcoin is far better than gambling and it’s good to encourage people to invest in bitcoin than gambling, because one can experience more peace of mind investing in bitcoin than investing in gambling which might even affect one’s mental health easily.

[ODG001]

You're only gambling when you take shots at shitcoins and every other coin that pops up on media advertisment

Crypto (Bitcoin) is a digital asset which makes buying/acquiring it an investment. Not to also mention that Bitcoin is now assuming a form of payment in reputable places over the years which automatically makes acquiring of Bitcoin equivalent to stacking money in the bank for future trade.

[Marvelockg]

Crypto (Bitcoin) has lower risk of losing when compared to gambling, take for instance football gambling, the results are immediate, once the game is over you either win or loss, that is to say there is no long term growth.

The first issue with such comparison is the usage of crypto to mean everything in the crypto space including bitcoin as well as mixing up investment with trading. assuming the comparison is with regards crypto trading almost being like gambling, then it becomes understandable but for someone that is invested in bitcoin for instance, the degree of risk is practically unmatched because if you don't rush to sell, it is even possible to conclude that there is no loss with  bitcoin investment at all.

you do not engage in crypto for the sake of fun or all, your purpose of investing in crypto is because you want to get profit from your investment. your level of certainty with the proposed returns you can get from crypto far surpasses what you can get from gambling. shitcoin and meme coin can to an extent be termed gambling with what you put into them but bitcoin and some altcoins do not fall under this category especially when you are not a trader.

[Cryptoprincess101]

You're only gambling when you take shots at shitcoins and every other coin that pops up on media advertisment

Crypto (Bitcoin) is a digital asset which makes buying/acquiring it an investment. Not to also mention that Bitcoin is now assuming a form of payment in reputable places over the years which automatically makes acquiring of Bitcoin equivalent to stacking money in the bank for future trade.

What are you even saying? see let me tell you, despite that bitcoin is a cryptocurrency but you cannot compare the authenticity of bitcoins to other cryptocurrencies that are regarded as shitcoins since they have no value in the long run. How will you equate acquiring of bitcoin to stacking of money in the bank, they aren't the same because you can stack money in the bank and in the long run the money will not add any value but if you acquire bitcoin and hold for a long term it will surely add value and that is the reason why many people are using bitcoin for investment rather than for payments due to its potentiality to increase.

[Somto9Light]

So Less face reality because many of us are into crypto because of the money we can earn from it after a long term holding, we are not into crypto for the primary purpose it was invented for which is transacting with it.

I dey sure say each and every one of us way dey into bitcoin investment is going for a certain goal Which is, to make profit from bitcoin investment. Me personally wouldn't have been in this space if not for the profit that comes from it after holding it for long term investment. Some people choose to hold bitcoin due to inflation which is also a good reason but I'm sure that they're not only doing the HODLin for this reason, because they can't continue holding thier bitcoin forever without attempting to sell some portion especially when they see that they in profit.

[gracreavix]

Crypto is not totally gambling, though it may seem that way but only depending on the way people look at it. When you buy and sell on the bases of hype or luck, then it is gambling. But if you treat it as an investment, having understanding of it risk, time horizons, and usage, it becomes nearer to speculation or even venture investing. Honestly speaking many people are into it for the profit, not necessarily for daily transactions, this makes its gambling comparison incompletely fair.

Yes, the gambling comparison only makes sense for people who jump into crypto blindly, and through hype or even trying to flip sharp sharp profits without understanding what they are doing. But when you actually take time to study the market, understand the technology behind it, and invest with a plan, that is not gambling, that is strategy..

The problem is, most people treat it like a gambling instead of a long term opportunity. They just want fast results. But real crypto investors know it is about patience and conviction. So yeah, it is not gambling, it only becomes one when you move without knowledge or direction.

[Jostern]

I understand that not all cryptocurrencies are the same, because if you look at some of the cryptocurrencies listed you wouldn’t know them, and when you invest in this crypto that are not familiar and aren’t know then you will be gambling with your money, but Bitcoin is quite different because it’s not a gambling scheme, and if you follow the right channels you will have to understand the fundamentals and how to invest in Bitcoin and it will not be a gambling or a Ponzi scheme, because most of this cryptocurrency are even scam schemes and when you fall for it all your money would be gone in a blink of an eye, but I would say that not all cryptocurrencies are scam or fake and not all that are gambling.

[Bigjoe33]

I understand that not all cryptocurrencies are the same, because if you look at some of the cryptocurrencies listed you wouldn’t know them, and when you invest in this crypto that are not familiar and aren’t know then you will be gambling with your money, but Bitcoin is quite different because it’s not a gambling scheme, and if you follow the right channels you will have to understand the fundamentals and how to invest in Bitcoin and it will not be a gambling or a Ponzi scheme, because most of this cryptocurrency are even scam schemes and when you fall for it all your money would be gone in a blink of an eye, but I would say that not all cryptocurrencies are scam or fake and not all that are gambling.

Agreed! Majority of crypto currencies are nothing more like gambling, because we only put our money with plans of making gains but nothing solid or no assurance from it. I had gotten involved in some coins and later lost greatly, and I saw it nothing more like gambling because I lost the money just like someone who gambled and depending on luck or just my knowledge of predictions.

But Bitcoin wouldn't be considered as gambling because it's a store of value as we have seen over the years. Though sometimes, Bitcoin might drop in value, even looking like it's a total loss for you, but for those who know the real value of Bitcoin would always exercise patience, knowing that it will certainly appreciate and birth gain for the investor if only they can Hodl for long. So, some crypto currency's can be regarded as gambling while some like Bitcoin is not in anyway as gambling.

[Tmoonz]

I understand that not all cryptocurrencies are the same, because if you look at some of the cryptocurrencies listed you wouldn’t know them, and when you invest in this crypto that are not familiar and aren’t know then you will be gambling with your money, but Bitcoin is quite different because it’s not a gambling scheme, and if you follow the right channels you will have to understand the fundamentals and how to invest in Bitcoin and it will not be a gambling or a Ponzi scheme, because most of this cryptocurrency are even scam schemes and when you fall for it all your money would be gone in a blink of an eye, but I would say that not all cryptocurrencies are scam or fake and not all that are gambling.

Agreed! Majority of crypto currencies are nothing more like gambling, because we only put our money with plans of making gains but nothing solid or no assurance from it. I had gotten involved in some coins and later lost greatly, and I saw it nothing more like gambling because I lost the money just like someone who gambled and depending on luck or just my knowledge of predictions.

But Bitcoin wouldn't be considered as gambling because it's a store of value as we have seen over the years. Though sometimes, Bitcoin might drop in value, even looking like it's a total loss for you, but for those who know the real value of Bitcoin would always exercise patience, knowing that it will certainly appreciate and birth gain for the investor if only they can Hodl for long. So, some crypto currency's can be regarded as gambling while some like Bitcoin is not in anyway as gambling.

Those that knows the real potential of Bitcoin will always not see it an gambling just like other coins, looking at the the supply of Bitcoin it
It has a total supply of only 21 million unlike other coins, Bitcoin keeps increasing in adoption it has a solid foundation and it has been breaking all time highs, the retracement we see as dips can always be use as advantage to buy more Bitcoin for investors who's aim and objectives is to buy and hodl for the future benefits, Bitcoin is nothing like gambling and the risk level is very low we just have to invest and trust the process with patience.

[Somto9Light]

So what are your thoughts on this matter, do you guys see crypto as something that is just like gambling or something else? Remember cryptocurrency involved buying and holding assets for long term till it increases in value and then you sell and take profits, while on the other hand it involves trading crypto assets in the crypto market, by buying and selling assets frequently within a short period of time either in a minute, an hour or a day to make profits.
So less dive into discussion you replies and contributions are valid.

First let me ask you this, when you hear the word "gamble" what really comes in your mind? Is something you do without any guarantee all you do is to hope for a better return right? And so as crypto investment, rather crypto Investment works different from gambling I'm talking about bitcoin particular since it has to do with demand and supply and this gives us a little motivation to keep putting our money into bitcoin, moreover Alot of reviews are being made and this is not only coming from a particular source but in different sources so is now obvious that bitcoin have a good potential if we can be able to hold it in the Long run. As for gambling alot of reviews are being made yet we can't get any prove that shows that we can make profit from gambling unless you're lucky.

[Mrbluntzy]

First let me ask you this, when you hear the word "gamble" what really comes in your mind? Is something you do without any guarantee all you do is to hope for a better return right? And so as crypto investment, rather crypto Investment works different from gambling I'm talking about bitcoin particular since it has to do with demand and supply and this gives us a little motivation to keep putting our money into bitcoin, moreover Alot of reviews are being made and this is not only coming from a particular source but in different sources so is now obvious that bitcoin have a good potential if we can be able to hold it in the Long run. As for gambling alot of reviews are being made yet we can't get any prove that shows that we can make profit from gambling unless you're lucky.

Bitcoin is not comparable to altcoins and gambling in terms of value and believe for future growth but you can subject altcoins like meme coins to gambling because they are just there for a quick pump and dump scheme that many people will lose their hard earned money that was invested and only a few persons would be lucky to celebrate a win on the investment. That is how it is in gambling, many will lose and few will win. Seeing that some people are having this knowledge about Bitcoin is good because I see new members always going after altcoins first as the real investment but you happen to be more interested in Bitcoin, it's good.

[cxtreenal]

The best cryptocurrency is a good asset for investment but it cannot be used properly by most investors. Most altcoins projects are not credible, so traders buy them in the short term without considering them as long term projects. Most people imagine it as a way to get short term profits. When short term goals make you greedy, it is no longer an investment, it gradually moves to the gambling stage. Just as the gambling industry has started to be considered a way to make money rather than a way of entertainment, it is negatively affecting people and becoming addictive. Cryptocurrency is not always like gambling, there are some projects that are very suitable for investment and are long term projects.