Investing in Cryptocurrencies is GAMBLING? - My Thoughts
In this video, I'll be responding to a comment someone left on one of my recent videos claiming that investing in cryptocurrencies like Ethereum and Bitcoin is just a form of gambling.
***I am in the process of adding many of my videos from YouTube on to DTube. Apologies for any posts that you've already seen before!
Original date of upload:April 12th 2017
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Well investing is like gambling in that you need to understand the risks
Nice video and yeah, trading cryptocurrencies is not gambling. When you gamble, you have no edge in the situation, basically you are take risks with no chance of better odds of winning. With trading, it is not gambling since you can have an edge, you can have an advantage and a good chance of profiting if you trade only high-probability setups.
Investing in crypto is not really a gamble but a game of patience. Because the one with load and load of patience win the game.
Patience to wait for the to load pistol with bullets...
Yup... it need the time and the right timing.
Exactly that is why we also HODL more than anything. Although at this points in time speculation is huge in crypto.
For the exprience investor in crypto they just laugh during the recent FUD and on the other hand new investor go panic and sell.
Haha honestly I feel bad for the people that got into crypto in January!
yes
Patiance is the key, you cant expect to invest in crypto today and expect to be rich tomorrow
LITERALLY
Investing is believing, which is Not gambling because you are supporting something not looking for short term gains.
So yes they are different.
Great post :)
Toddjr.
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.
No, cryptocurrencies are a technology that one invests into. It is not gambling if you are invested in a company that is achieving results! It could be metaphorically be considered a gamble, but than again, so would be the whole stock market.
Partially I agree that its gambling. Past few days the market goes green for a day and becomes red immediately a day after. No reason for it to go red, no news to follow. Its pure manipulation.
Making it unpredictable so that the masses get out of it.
I would call it an advance form of gamble in a way. Because in crypto market nothing is fixed. We can all just wake up the next day and hear bitcoin is $5k, crypto analysts will just say it is correction. Even their analysis are not certain. It is definitely gamble in a way.
I honestly believe humans can turn anything into a gamble. The gamble is more about the effects of a situation on your brain and how the decisions following those have big effects on you (most notably financially). That's why even freakin loot boxes can be set as gamble.
But an interesting discussion would be "Are crypto currencies going to last long?". I don't mean it in a "Huh, fuck it, it's a bubble and it's gonna crash!" but rather "how quickly will it take for the next revolution to pop in and take place. Everything keeps on going faster. I don't see why it'd stop anytime soon (except the apocalypse..)
No more a risk than the Stock Market as you mentioned in your video. Keep the videos coming @louisthomas always enjoy them also starting to like the @Dtube platform more everyday.