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One thing to keep in mind is that there's a fundamental difference between gambling and speculating on assets, cryptocurrency or otherwise. With gambling, the p
by betwixthewires 5y ago
One thing to keep in mind is that there's a fundamental difference between gambling and speculating on assets, cryptocurrency or otherwise. With gambling, the payout odds and real odds of a game are known, and you have to pay per play, which means a guaranteed loss rate. With speculation, no money is actually lost in the process, only when you've decided to end it, and "turns" do not have defined terms.
This might sound like a trivial difference but it is not. You actually can make money speculating.
Many of the behavioral patterns though are the same. People do get addicted to speculating and trading, and mostly with negative consequences, particularly if they do not learn as they go and rely on pseudo superstitious beliefs and truisms, which most traders do.