Quote from: Kelward on July 11, 2023, 01:18:51 PM

For some time now I've been pondering on this matter, because I see similarity between bitcoin trading and gambling, so I'm wondering whether they're the same thing. My simple definition of gambling is "try your luck", because you don't know what will be the outcome of the game that you staked. Although calculation is involved in gambling, like forecasting and permutations to predict winnings. In the end it is fifty fifty or sixty forty chances of winning. At the same time you can not accurately predict bitcoin , because of it's volatile nature. You're not 100% sure whether you'll win or loose. Furthermore, I've leant on this forum that it's better to invest in bitcoin, with what you can afford to loose, meaning that it's not safe to invest your main capital. This is where I think that bitcoin is like gambling, because despite the accurate knowledge of bitcoin chart, you're never too certain of making gains, just like in casino, online betting and the rest.

From my observation, people don't have much regards for gamblers, they either see them as lazy people who don't like to work, or people who want to take shortcut to get rich. Although people are entitled to their opinions, but I don't like to categorize bitcoin in this group of " try your luck ". I know bitcoin is of a higher level, it's a decentralized digital currency that you can use to make transactions, at the same time you can cash in when the coin appreciates., or even trade it to make profit.

So having made all this comparisons, do you think that bitcoin can be classified as gambling?

Well, I'm not a gambling person but I'm definitely a bitcoin person. You cannot be 100% sure if you lose or win, that's true. But there are market predictions, there're bullish and bearish markets. So, it's not a total mystery. The more you trade, the more you understand the basics