I was kinda surprised when I read the news from Financial Times that the cross-section of the UK's MPs that seems to see it as needless to regulate cryptocurrency suggested that it should be viewed as "a form of gambling" and be regulated as such.
Without relying on my own understanding of "gambling," I quickly used the help of the Oxford Dictionary through Google, and it states;
1. Play games of chance for money; bet.
2. Take risky action in the hope of a desired result.
The second one seems to fit crypto best, so it's clear they know what they are saying.
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?
- If a gambler is addicted to playing in the casino he will surely think that doing crypto trading is also like gambling. But this is a wrong assumption, not actually. Because the crypto assets will not allow you to just trade there, due to if you have extensive knowledge of trading in the crypto space, you will make sure that you will get a profit even if it is not a large amount.
That's why it's necessary here that you have an idea of reading the chart or graph because you don't just rely on compound trading. Because if your analysis is correct, for sure you will make money in the end.