What aspect of Crypto is likely gambling?

[ajiz138]

Yep, that's right..the simple way is anything that aims to gain profit but without any intention to learn or try it, and only relies on luck alone, it can be called gambling... maybe they call it investment, but in reality the concept is the same, hoping more for luck is not much different from people who play Sweet Bonanza, there is nothing to learn and only rely on luck....

Even though every investment in cryptocurrency can be learned well, but if you still rely on luck alone without any intention to learn... that is not far from gambling...

Well it depends on the approach that one takes, if the person is armed with knowledge, skills and experience and they go into investment or whatever, then it is not gambling, yes it will require a little luck, but for me luck will come if we know the science.

As for gambling, what should we learn from gambling? I have been in gambling for a long time and may be very experienced, but every time I press the spin button I can't predict at all.

[Faisal2202]

From my point of view, trading cannot be equated to gambling if one knows exactly what he or she is dealing with. And that is why many traders struggle, when they try to jump straight to the high leverage investments such as futures. This is why some people get the feeling of gambling even when there is no such situation, they are simply not prepared. Airdrops or P2E are not a case where people entirely lose money, it may need time, tactics, and at times mathematics to yield the result. Thus, both trading and airdrops can be perceived as something completely useless if one expects to win something without any grounds or reasons for it. This risk can be slightly deimized with the help of logic and the proper amount of information.

That's right, without logic a trader, airdrop hunter, or a person involved in any crypto activity, until they are not making educated moves till then, they won't be getting any huge profits and they will take crypto as gambling.

Although they also don't know much about gambling either because there are bets on support which are made by logic and the analysis of old data, while on poker, casino types gambling items, luck is used most.

[Asiska02]

The Crypto industry is a very large space with different ways to enrich it's users which most of us here knows about. I once read a post concerning how we could make money in the Crypto world and various thoughts from different users triggered me to create this topic What aspect of Crypto is likely Gambling?

Most individuals compares crypto trading to Gambling, others compares crypto airdrops (P2E, A.K.A Tap-Tap) to gambling. While some still compare the likes of presales, ICO's, Investing in memecoins, pump and dump schemes etc to gambling.

Though most users do their personal comparison but in this present, what aspect of Crypto can be equated to gambling?

Your thoughts.

 I don’t really engage in presales, ICO, pump and dump scheme but the remaining options are what I know most about and I can only say that in trading, you can only equate to not having a proper knowledge and trying to act smart with the market to make big wins to gambling. If you have the right knowledge about trading, you will not see it as gambling because you’ll make your decisions base on the knowledge you have and not what you feel of the market.

When it comes to memecoins, I can equate that to gambling but while seeing it as gambling, if you still only risk what you can afford to lose in it, it makes it a more suitable investment as you would lower your expectations from what the outcome will be. People invest in memecoins big time and still make good profits from it because of the way they manage their risk and chose from analysis made on tokens to invest into to avoid been liquidated while investing and focusing on one out of many.

[JISAN]

If you want to invest, then of course you have to take risks, it can be in any field. But in the case of crypto, if there is a little more because there is a lot of opportunity to make profit here. So where you get the opportunity to make high profits, you also have to have the ability to make high losses. Crypto is not gambling until you use them as a gambling-like activity such as playing crypto casino games with crypto, trading futures, trading on margin, etc. So you can never directly compare crypto with gambling.

[Crypto Library]

If you want to invest, then of course you have to take risks, it can be in any field. But in the case of crypto, if there is a little more because there is a lot of opportunity to make profit here. So where you get the opportunity to make high profits, you also have to have the ability to make high losses. Crypto is not gambling until you use them as a gambling-like activity such as playing crypto casino games with crypto, trading futures, trading on margin, etc. So you can never directly compare crypto with gambling.

Yeap, crypto trading and gambling can never be compared because one is solely dependent on luck and the other is dependent on skill.
As you have already said, in investing we must take risks, but in trading, if we take risks like gambling, there will be the opposite danger.
Because there are many things to understand in trading, here we first have to gain knowledge about fundamental analysis and technical analysis, then we have to take risks here.

[MRY]

If you want to invest, then of course you have to take risks, it can be in any field. But in the case of crypto, if there is a little more because there is a lot of opportunity to make profit here. So where you get the opportunity to make high profits, you also have to have the ability to make high losses. Crypto is not gambling until you use them as a gambling-like activity such as playing crypto casino games with crypto, trading futures, trading on margin, etc. So you can never directly compare crypto with gambling.

Indeed, those are great points, I fully comprehend and agree with your perception of it. Crypto is not for everyone and at the same time it will be unfair to call it gambling right away. It is indeed a generalisation that depends with how people use it. So, if an individual engages in speculative trading by speculating in hope to make quick and easy money, that can be dangerous. Although, if one understands the rules, then it becomes quite legal. So, you also need to face oneself as well, for one to make huge profits, they must also be ready to incur loses.

[Alone055]

Anything that you do in crypto without knowledge or understanding is likely gambling because if you are making guesses and going with your gut feelings while having no knowledge or understanding about what's happening. In general, spot trading is considered pretty safe, but as I said, it's only safe if you know about the market and what's happening in the market at the time when you make an entry, because if you don't, you will most likely make mistakes.

That being said, I would say that crypto options is something that can match the likes of gambling because it's a type of trading where you mostly predict the price action of an asset in the short run, and that isn't how trading generally works because in trading, you need to take at least some time for your prediction to work. Even in futures and margins trading, if you use low leverage, it can't be like gambling.

[Bryancrypto]

Obviously memecoin trading and low cap altcoin speculation. People buy in hopes for a 10x without truly understanding the underlying risk.

[jeraldskie11]

Obviously memecoin trading and low cap altcoin speculation. People buy in hopes for a 10x without truly understanding the underlying risk.

We can't deny that there are some low cap altcoins that become on the top in no time and many make a lot of profit from it. But I agree with you, that this type of making money in crypto is like gambling. Many thought that you can cover up your loses in just one coin if you're lucky, but honestly you don't when it will be happen, I tried that but I lose a lot and still got no one. So better to avoid this one if you're not ready the negative outcome.

[Trongduy]

Anything that you do in crypto without knowledge or understanding is likely gambling because if you are making guesses and going with your gut feelings while having no knowledge or understanding about what's happening. In general, spot trading is considered pretty safe, but as I said, it's only safe if you know about the market and what's happening in the market at the time when you make an entry, because if you don't, you will most likely make mistakes.

That being said, I would say that crypto options is something that can match the likes of gambling because it's a type of trading where you mostly predict the price action of an asset in the short run, and that isn't how trading generally works because in trading, you need to take at least some time for your prediction to work. Even in futures and margins trading, if you use low leverage, it can't be like gambling.

Entering the market based on reliance on luck is the essence of gambling. Conversely, if an investor possesses a bit of knowledge about capital management, technical analysis, or simply knows how to set TP and SL orders, they have already escaped the get-rich-quick gambling trap in this market.

Unfortunately, the majority of investors still only view crypto as a lucrative market for making profits, and they buy tokens without clear criteria or regulations. They hear about them, they think they will increase in price, and they try to get those tokens into their accounts. Sometimes they win and boast about their abilities, but usually they lose and blame the market.

[Bobcrypto]

the risking of your money is like gambling. investing is like gambling, you cold either lose or win.
but we don't normally see it that way because we are more likely looking it as investment. but this is just like buying something and expects this item is worth it or not.

but P2E are just platforms where users could play, you invest your time playing and hope the tokens you earn will have worth. yes you still gamble.

Investing is like what you already know as a possible outcome that will play out anytime or in near future, and with a very careful study of the market as an experienced trader/investors, there are projections of demands/supply in short or long terms that happens at the trends intervals. It actually requires experiences to be an investor or a trader to differentiate between investing and gambling, however gambling is absolutely a luck outcome any day.
 

[DavetJack]

I believe in investing in something that makes someone think they would be earning a lot of money and putting every money you have in a single basket. That's definitely gambling for me. Additionally, not knowing something and still pushing through is a gamble.

Investing in these parts of crypto or any currency without any information or specific analysis is based on speculation or emotion or hope for quick profit, which we can say is a little bit of a blessing. However, we know that the real-life and powerful aspects of block technology, such as Bitcoin, Ethereum, and the Bardify application, etc., are what we can say at the beginning of the economy in the future.