Day Trading/Gambling on Cryptos

I started investing in cryptos and mentioned some of my exploits in the Cardano thread. One user pointed out that I was in fact gambling not investing and I’ve concluded he was right.

Anyone else doing this?

I put a 10k “bet” on ChainLink this morning at $30.850. Now waiting for a little climb before selling.

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I’m more of a HODLer. But even that gets labeled gambling by no-coiners.

If you can make money, get it. Just watch your ass and don’t connect any wallets to any email associated with social media. Never give your wallet seed to anyone.

Don’t trust anyone applies more than ever.

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Any investment of any kind is a gamble. If it was a 100% sure thing we would all be doing it…

So now that we know it’s all a gamble. Tell me the odds. The casino has the odds laid out… and they aren’t in the player favour… but investing is. If you look at any segment of investment… it’s gone up over time… there are points where it’s a loser and individual investment that fail. But investment as a whole have good odds

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No, you are wrong. Day trading is gambling. Buying and holding the S&P 500 for the long term is not gambling.

they are both gambling… one just has much much much better odds

Nope. Gambling means it is a game of chance.

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Gambling or not aside, Chainlink is such an under valued project. More people should be in it. It’s more of a long term hodl for me, but I have swing traded it in the past. Nothing wrong with taking profits and buying back in at the dip.

If the project is solid and nothing has fundamentally changed with it, taking advantage of peaks and dips is just how you get ahead without putting in more fiat. Of course that’s always risky, but the volatility is where the profits are.

People mostly get wrecked on leverage trading.

Gambling (also known as betting ) is the wagering of money or something of value (referred to as “the stakes”) on an event with an uncertain outcome, with the primary intent of winning money or material goods. Gambling thus requires three elements to be present: consideration(an amount wagered), risk (chance), and a prize.

It is a semantic argument, androb is getting too deep in the weeds for a pointless argument.

Highly speculative investing is considered akin to gambling by most. Day trading as well.

Betting on blue chip stocks or betting on indexes following the market aren’t considered gambling by most.

If you want to argue the definition of it ok fine. But how most of us think of gambling is more in line with high speculation.

Betting on blue chip stocks and the S&P 500 is not high speculation, not even close. So to most, no that isn’t remotely close to gambling.

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As for crypto, since it is at a point where it is high speculation, it would be closer to gambling.

I’d say there is investing, highly speculative investing (crypto could fall under this), and then gambling itself. It isn’t black and white and a semantic argument to some degree.

Androb, example: Buying J&J or Phizer is not gambling, that investing. At the end of the day, there are underlying products, time in existence etc. Over the long term that will make you money.

Speculating in crypto is gambling, there is nothing more to it. Every crypto fairy is going to lose their panties with this statement, but there is nothing underlying, except the speculation that somebody is going to buy it from you at a higher price.

Artificial scarcity vs actual product. A share in an actual thing is always the better purchase.

Of course that does not stop us from gambling on crypto, I do, but it’s quick in and out.

ask the people who bought nortel blackberry texaco enron etc

It’s all gambling… some just have better odds (like I said from the 1st post)

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All investing is gambling. You do the best you can with a combination of knowledge, instinct, discipline and your own brand of analysis. Nothing is a sure bet, however.

I learned that the hard way when I took an absolute bath on Geron Corporation after their partnership with Janssen was discontinued, despite most indicators suggesting otherwise.

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It’s not gambling if you know you are going to win.

Well if you are putting everything you own into one stock that is gambling I agree. Buying a diversified group of blue chip stocks isn’t because you are taking the diversification into account.

I’d rather buy indexes that cover the market anyways. It’s the only way to guarantee me my fair share of the market return. Which is not speculative or gambling.

Gambling always has the connotation where you have no control over the outcome. Crypto trading using TA and stoplosses has a lot of control…

I threw some money on PolkaDot this morning. They’ve all been hovering at a low point for the last 24hrs so I think the next few days will see some market growth

If you say “hodl” when you mean hold you are a faggot for dear life.

I have two long term coins. Cardano and Algorand

I have bought the following shit coins: Shiba, Doge, Kishu, Dogelon and eMax. So far within a month I have paid off all debt but my Mortgage. Its gonna be a slow process but its fun!

Awesome man! I also got some holds on Shiba, Doge, Etherium, BNB and Bitcoin, but I bought last week just before they all plummeted.

I’m currently down on my initial buy in, but I started off very impulsively. Let’s see what the measured approach yields