Coinut.com - Is it gambling?

[ndnh]

The link is : https://coinut.com/

It allows the players to buy and sell call or put binary options. The binary option expires every week and the winning options get 0.01 BTC on expiry.

So, is this gambling? or just trading?

[Salmon1989]

The action itself can be considered as trading IMO, but gambling is the right place for the site's thread.

The description of the gambling section is

Gambling and all "investments" that are so risky they might as well be gambling (HYIPs, pyramid schemes, etc.)

[wangxinxi]

The action itself can be considered as trading IMO, but gambling is the right place for the site's thread.

The description of the gambling section is

Gambling and all "investments" that are so risky they might as well be gambling (HYIPs, pyramid schemes, etc.)

Thanks to Salmon1989 for answering the question and the suggestion.

Our purpose is to make a fair market for people to trade options. That's why you see the options are exchange traded, and you also see there are quite long expiration periods and different strike prices. More importantly, with enough skills, you can make profit consistently. You can either speculate on market direction, which is difficult actually, or trade market volatility, which is easier.

There are also other sites http://btccrzy.com/Binary-options/. Coinut is very different from those sites because we are an exchange; we don't manipulate the payoff and we don't trade against you. If you want to gamble in our site, that's absolutely fine, and actually you can probably get better payoff from our site as the payoff is fairly determined by the market instead of manipulated by us.

[Quinn]

i always thought trading is the same thing as gambling..

[wangxinxi]

i always thought trading is the same thing as gambling..

I actually started a thread for discussing this https://bitcointalk.org/index.php?topic=864711.0. My experience tells me that they are quite different. By trading forex, I made enough money that can support me the next 10 years (My initial capital was only about 5000 USD). But I guess I would have lost all the 5000 USD if I gambled in a dice site.

[krishatnet]

Is is not gambling it is like stockmarket options it depends on bitcoin price with high leverage.

[noma]

Well its not exactly gambling. For new people it might be, but trading is definitely different from gambling.

[Bitcoins101]

The word "gambling" really just means a wager and has virtually nothing to do with the level of "uncontrollable risk". However, based on the definition of gambling used here (uncontrollable risk), I would not consider Coinut gambling.

Don't expect to make money or break even if you don't know what you're doing.

[mllenios]

If that game makes you bet your bt in return for more btc then its gambling

[wangxinxi]

If that game makes you bet your bt in return for more btc then its gambling

How about you use USD to buy some stocks and then sell them to get more USD? I do not intend to convince you that trading is different from gambling. The definitions of the two do not matter much. I just want to show you that in our site, you can make profit consistently if you have the skills. While in dice sites, almost surely, that's impossible.

[Chemistry1988]

I have no idea to the answer to the question, but here are two interesting articles that you may be interested in.
Gambler or Investor? The Truth About Why We Trade: http://online.wsj.com/articles/SB10001424052702303499204576388151661037330
Are You Investing Or Gambling?: http://www.investopedia.com/articles/basics/10/investing-or-gambling.asp

[Watoshi-Dimobuto]

If that game makes you bet your bt in return for more btc then its gambling

You can't be more wrong. An investment with a profit motive is not gambling.

[coincolonel]

If that game makes you bet your bt in return for more btc then its gambling

"Gambling" or not depends on the person itself. If I put my money on  a random stock, without knowing what is the stock past performance, future prediction, etc, it is gambling.

[kuusj98]

I think putting money on a bank is gambling. You are putting money at "a" risk and thus I consider it gambling. Putting money under your bed is also gambling, thiefs will get find it and it will be gone with probably no insurance money as you cant proof it. If the bank collapses you will also lose your money but you will probably get some part back.

Risk v.s. reward...

[noel57]

The link is : https://coinut.com/

It allows the players to buy and sell call or put binary options. The binary option expires every week and the winning options get 0.01 BTC on expiry.

So, is this gambling? or just trading?

Does this game or gambling involves any investments?

[Brewins]

If they are gambling, then all options markets are gambling.

But options markets exist even where gambling is forbidden, so I guess it is not gambling. But as risk as gambling

[wangxinxi]

If they are gambling, then all options markets are gambling.

But options markets exist even where gambling is forbidden, so I guess it is not gambling. But as risk as gambling

The risk depends on your trading strategy. If you always hedge your positions, the risk can be very low. In dice sites, however, you can only reduce your risk by reducing your wager.

[LOBSTER]

Its really risky

[mezmerizer9]

The link is : https://coinut.com/

It allows the players to buy and sell call or put binary options. The binary option expires every week and the winning options get 0.01 BTC on expiry.

So, is this gambling? or just trading?

Anything that's based on pure luck is gambling.

[moko666]

Coinut is binary option trading platform for bitcoin
same like we see binary trading in forex market