Quote from: SamReomo on June 24, 2023, 06:36:34 AM

Quote from: EarnOnVictor on June 09, 2023, 03:17:15 PM

Now, do you agree that crypto should be seen as a form of gambling? And if this eventually comes through, what should we expect as the constraints it might still bring to the crypto space?

I don't agree with that because crypto isn't a form of gambling, and comparing it into gambling isn't a fair thing. Crypto-currencies are type of currencies which can go up or down in value and they can be used to purchase goods, while gambling is so different from that concept because in gambling you either win or lose, and when you lose you have no way to recover the lost money. In the cryptos one can invest the money and the returns can be very good if the currency gets higher in value. In gambling we place bets and if they go wrong we lose everything. Crypto-currencies can have many uses while gambling is just for entertainment and earning some extra money if you are lucky. It's totally unfair to compare those two as a single thing.

Obviously there are spread differences between crypto and gambling. Although the purpose of both the users is similar but there are completely different based on the characteristics. Many critics sometimes compare crypto to gambling because of its rapid rise and fall, but that has nothing to do with reality. An investor won't be completely bankrupt if an investment in crypto loses its value, but if a gambling bet is lost, it will be lost forever. Another big advantage in crypto is that there is a chance of recovery after the investment goes down which is not possible in gambling.