Re: Trading has become too much akin to gambling. Let's embrace it
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Actually when I talked about the relation between the hash rate and the price of Bitcoin I wanted to transmit there are some cases in which a high or low hash rate can also influence the price, due to the security of a decentralized network being a driving factor to the price of it... For example, of the hash rate of the Bitcoin main network started to go down and down, that would be translated in a deficiency of security against attacks to it, is that correct?
In theory!
In practice, it never actually happened, and it's pretty hard for it to happen this way.
First, it's hard for the hashrate to drop because of the advancement in chips efficiency, so 3 miners might quit but one might replace his asics and there you go, same hashrate, then there is the delay between the orders and actual receiving the miners, people order when it's profitable, 3 months pass, you get the gear you have nothing to do but mine!
So some traders would feel prompted to exit their positions in exchanges to deter risks of the coins losing value.
Ethereum Classic was successfully 51% attacked more than 4 times, the coin is still alive, so.....traders might not focus on the security aspects of a coin!
Trading cryptos is gambling, it's just the ego of traders that denies it.
Could you atleast make some specificities to this, Stompix?[
Simple example:
https://www.bbc.com/news/technology-58707641
When a hamster manages to make money from trading crypto, one can't keep saying it's about knowledge and not luck!