Post
Topic
Board Trading Discussion
Re: Bitcoin trading and gambling
by
Dimitri94
on 25/07/2023, 17:21:12 UTC
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So having made all this comparisons, do you think that bitcoin can be classified as gambling?
I think bitcoin and gambling have some similarities but mostly different. Bitcoin and Gambling have very little in common Bitcoin is about trading and gambling is about making fortunes. By investing Bitcoin we can easily do many transactions and it is also possible to make profit by trading it. Gambling mainly depends on a person's luck and it is very difficult to predict. But the same is true for Bitcoin if a different Bitcoin risk-free predicts that it will be profitable in the future. But if I bet my money on gambling, the risk of losing it is high, very few people can win the bet. In fact, predicting that Bitcoin is less risky than gambling and you don't lose money investing in Bitcoin. So I think Bitcoin has never been similar to gambling even though the two involve different types of processes.
Nothing new needs to be said about gambling and trading. However, some people's perception why Bitcoin is compared to gambling? that is because of Bitcoin's high volatility. Many compare Bitcoin is gambling due to its high volatility but this idea is completely wrong. I can't think of Bitcoin as gambling because crypto gambling is conducted with Bitcoin. Gambling is the money I bet to either win or lose. A holder of Bitcoin never loses. Even if the price falls temporarily, it will recover again which is not possible in betting.