You might find the discussion on this thread of interest on the differences between investing, gambling and speculating.I would be interested in hearing the difference between 'investment' and 'speculation'.
You might find the discussion on this thread of interest on the differences between investing, gambling and speculating.
https://www.askaboutmoney.com/threa...quities-over-a-period-of-just-4-years.203846/
Thanks, some interesting views there.
My own personal view is that there actually no difference between gambling, speculating and investing.
You may be right, but my understanding of bitcoin is not so much itself as a new 'currency', but rather the underlying blockchain technology.
My own personal view is that there actually no difference between gambling, speculating and investing.
As Bitcoin Wiki, itself reasonably supportive, observes, just because it costs a lot for 1000 men to dig a huge hole in the ground does not mean that same hole has value. Similarly each one's fingerprints is extremely scarce but that does not confer much value.
That really is the key difference between investing and gambling. The first has a positive expectation, the second has a negative expectation, at the outset.
But you are not investing in the underlying technology nor the companies building products on it!
That is still speculation, and as there are no guarantees, it still amounts to gambling in my view, albeit very low risk gambling.
to establish the knowledge that the team that sits on top of the league are never more than a 3-4 games without a win. Thus building a strategy long-term that will return my stake with profit.
it is the gift of every person to determine if it is overvalued, undervalued or actually worth nothing at all.
Again, this shows you have little understanding of gambling strategy. People use the same reasoning to always double up on black in a casino on the grounds that it must come up sometime so "they can't lose".
People who buy Bitcoin do not have the gift of determining its value. It's worthless. You will only gain money if the greater fool progression continues. When it stops, you will lose all your money.
To dismiss it as worthless is to dismiss the underlying technology that it is built on.
Shortie
You are not investing in the underlying technology. I have a visa card. I am not investing in AIB who provides the card. Sure I am benefiting from their technology.
Brendan
Correct, I never said that. Buying bitcoin is a speculation that the underlying technology of fiat currencies (paper, central bank printing presses) are flawed and destined to collapse the value of the currencies they produce.
To put it another way, if everyone had a rock solid belief that the value of their currency was in no way in danger of losing value, bitcoin wouldn't even see the light of day.
I suppose the point is that confidence in fiat currencies, central banks etc is starting to erode. ...
Bitcoin offers an avenue to trade securely, without interference, based on its underlying technology.
A competiting blockchain technology is plausible, but if it doesn't do anything different, creatures of habit - like humans, will opt for what they are used to, that is bitcoin.
How do you think the Swiss Banks reputation for secrecy, the same blockchain technology and the strength of the Swiss Franc will stack up agains bitcoin???
Blockchain is a game change, but it can just as well end up supporting any other currency, just as well as bitcoin.
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