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RE: Investing in Cryptocurrencies is GAMBLING? - My Thoughts
I dont think investing in crypto is gambling. Lets say we go to the casino. At best, the chance to win is 50/50 and most of the times its less than 50%. Investing on cryptos you can lose also but there is a way to reduce losing % if you invest smart, read news about the crypto you are investing in, "predict" the future. Gambling is hoping something to happen without doing anything else. Investing in crypto is hoping something to happen because you came to the conclusion there is a high chance to happen. Of course there are players that just buy crypto and sell crypto without reading anything. Yes, this is gambling...
I would disagree that cryptocurrencies are a form of gamble otherwise we could say that loans and investments in our local banks are also gamble .Because you have the risks of losing your money and little gains at all. These Digital Assets are speculative = they are solely dependant on the persons actions = it cannot be gamble which involves someone to hope for something . If there are actions made by decisions it cannot be called gamble.
I'd say it's a lot like gambling because the casinos want you to stay at the table longer than it's safe to. They're making money on every hand dealt, much like the exchanges. They also rig the games at the start and pay out big and let some people walk away from the casino with big earnings to help advertise how easy it is to win at the casino to others, enticing new players to come visit the casino. This is also a scenario where we may realize that some people are given chips instead of USD and when they try to cash the chips out they realize the casino just created a bunch of chips that weren't worth anything and ran off with the money other people walked into the casino with.
Thats what I wrote :D Thanks for agreeing ith me anyway :P
You have beautifully put the thought into words. For me when you use the word "investing" it takes away the gambling part because you invest your time, you read, try to understand(though nobody understands Blockchain completely) the technology. #### Everything uncertain in life cannot be termed as gamble.####
Yea. Its like saying its gambling to study at university because you cannot be sure you will find a job after that. Studying is actually investing in your future, increasing the probability to find a good job.