Investing in Crypto Currency is Gambling?
I've been thinking about this for some time now. Some of my friends have said it's gambling and to be careful. First, let's see how this described.
On Dictionary.com it says:
noun
- the activity or practice of playing at a game of chance for money or other stakes.
- the act or practice of risking the loss of something important by taking a chance or acting recklessly:
If you don't back up your data, that's gambling.
So we are taking a chance. Is taking a chance a bad idea? We always take chances in life. What makes this any different?
They say always invest what you are comfortable losing, and I think this is where people lose the plot. A person might get overzealous.
What are your thoughts on this and what kind of counter points would you have if a person said this was gambling?
Investing is gambling, but it’s making an educated guess to a favorable outcome, it doesn’t have a guaranteed negative expected value such as playing black jack against the House great conversation topic upvoted!
Marcus, I like that. Educated guess on a favorable outcome. Do you think this would be synonymous to let's say, playing the lottery?
Yes this is true. Gambling is risky, much like trading cryptocurrency. I am not a big gambler so I only invest what I am willing to lose. :D
Very wise, more people should follow suit.