Post
Topic
Board Off-topic
Re: Bitcoin is not gambling
by
Ailmand
on 02/02/2018, 11:21:22 UTC
I don't know why people say bitcoin is gambling. Its not gambling. You are investing your money and time. You use your internet. So its not gambling dealing with it.

Bitcoin is a currency.  You cant say money is gambling itself.  But if you invest your money and convert it into bitcoin,  now it is gambling.  Because you take a risk investing your money to a volatile currency hoping it would rise up in the coming days,  but you know it might also drop.  There is still win or lose in it,  so basically its still gambling.  The process is gambling,  not bitcoin itself.

That's right. I think some people mistake it for gambling, specifically those who are  trading or investing. Since the value of many coins in the market, including Bitcoin, may come up or down in a snap, they think that it's like gambling when they do invest or trade because its like to playing the coins only through luck. However, that is not the case because the means to gain profit from cryptocurrencies is different from how it works when you gamble. When you gamble, and you lose, you totally lose the money or asset you gambled for, as supposed to cryptocurrencies, wherein even if you fail, you don't lose the asset, instead you lose some capital in relation to how much money you used to buy or get the coin. There might be some similarities in terms of having sudden changes of the assets, but market movements are not synonymous with game of luck.