Post
Topic
Board Gambling discussion
Re: Can a gambler be a good bitcoin trader?
by
summonerrk
on 16/11/2023, 12:41:36 UTC
I base my question about whether a gambler can become a good bitcoin trader, because both of them share one factor which is risk. A gambler is a risk taker, he stakes his money without knowing the outcome of the game that he is about to play. There is no guarantee that he will win, yet he goes ahead to play, knowing fully well that he can lose his bet. Same thing with a bitcoin trader, he goes ahead to engage in trading knowing fully well that the market can turn around  negatively for him, making him to lose his bitcoin. Yet he goes ahead to trade in the hope of making profit.

Although there are some differences between the two, like most gambling depends mainly on luck. You play and let luck decide fate of the game, that is the risk factor, because the gambler doesn't have any control or influence to determine the outcome of the bet. Also a bitcoin trader doesn't have any control or influence to determine how the market swings, he takes the risk to trade his bitcoin without knowing the outcome whether it'll be profit or lose. The diffidence between the two is that a bitcoin trader can predict the market, while a gambler can not predict the outcome of a bet, except in sports bet.

So if a gambler where to go into bitcoin trading, do you think that the experience of taking risk in gambling will be an added advantage to face the risk of bitcoin trading?

A great topic to think about the general features of these classes - trading and gambling. I do both, and therefore I believe that I have useful experience, and I can also share it.

Trading implies technical analysis, these are support and resistance levels, as well as trends. I believe that all this works for the benefit of predicting the future course of the cryptocurrency price. It is impossible to get dependence from this, and the outcome is not as obvious as in a casino - you can just keep the cryptocurrency in the hope of its growth if it suddenly fell.
And in the casino, the result is unambiguous, and there are also a lot of emotions, so you can get addicted. Casinos are more dangerous.