Post
Topic
Board Trading Discussion
Re: Bitcoin trading and gambling
by
uswa56
on 26/07/2023, 07:10:20 UTC
So having made all this comparisons, do you think that bitcoin can be classified as gambling?
It looks like gambling because there is an element of speculation, buying at low prices and selling at high prices, but I think those who invest or trade in Bitcoin will not like it if someone says what is done as gambling because the connotation of gambling is often identified with things that are not good, so also in my opinion that Bitcoin trading and gambling have quite a big difference, gambling tends to depend on luck even though there are types of gambling that require analysis or skill, but trading will depend on skills so when the skills are higher the chances for profit will be higher, but unfortunately many traders do not have the skills to enter into trading and what he does will be the same as gambling, and if we are not traders who have enough skill, it is better to turn them into investors by saving them for the long term.
I don't think so, Trading and gambling have very significant differences and speculation cannot be made equal because speculation is an integral part of the financial market and investing in general is not just in gambling.
Gambling makes it possible to lose everything but in trading we have many options like waiting for the best price or releasing with a loss, it's definitely different I think.