Post
Topic
Board Speculation
Re: Is gambling with cryptocurrency the same as gambling at a casino? Differentiate
by
m2017
on 18/11/2024, 15:36:12 UTC
Cryptocurrency gambling can be seen as similar to gambling at a casino in the sense that both involve risking something of value in order to gain something else of value.
Indeed, cryptocurrencies have some similarities with gambling and I call investing in cryptocurrencies a game of roulette, because the success of random investing in cryptocurrencies depends on the same randomness as in a game of roulette.

Although the end result in cryptocurrencies and gambling is money, which achieved in different ways. Cryptocurrencies are not games after all, there is no gameplay.

You can be on the winning side today and on the losing side tomorrow too.
What is our life? - The game! Smiley

Gambling is based on chance, while cryptocurrency is based on mathematics/calculations and cryptography.
Gambling is also based on mathematics, much more than luck. Gambling is mathematically designed so that the chances of winning are tiny.

With gambling, you are betting against the casino house and board members, but with cryptocurrency you are betting against other people that have more or the same and similar amounts of money as you do.
But isn't this what gambling and cryptocurrencies have in common? We always play against "someone". The amount of money in the casino or in others doesn't fundamentally change anything in this scheme.

In casino gambling there is usually a guaranteed win for them because they have an edge on their games while in crypto it requires strategies and skill to top up your game.
There are no guarantees in gambling, and in cryptocurrencies, strategies and skills alone are not enough, because the market is virtually unpredictable and can be influenced by almost any player.