Investing in Cryptocurrencies is GAMBLING (My Thoughts) | Vlog #15

In this video, I'll be responding to a comment someone left on one of my recent videos claiming that investing in cryptocurrencies like Ethereum and Bitcoin is just a form of gambling. - - - - - - - - - - - - - About Louis Thomas: Louis Thomas is a self-published author, blogger and YouTuber from Cwmbran in South Wales, UK. His content revolves primarily around drugs, politics and society. - - - - - - - - - Find me here: Official Website: http://louisthomas.co.uk Louis Thomas Facebook: https://www.facebook.com/LouisThomasChannel/ Louis Thomas Twitter: https://twitter.com/LouisThomasYT Louis Thomas Instagram: https://www.instagram.com/louisthomaschannel/ Louis Thomas Personal Snapchat: louisxthomas - - - - - - - - - - - - - - - - BUY MY BOOK PLEASE OK How to Choose a University: The Undergraduate Student’s Guide for Choosing the Right University: http://www.amazon.co.uk/How-Choose-University-Undergraduate-Students/dp/1517225299/ref=sr_1_1?ie=UTF8&qid=1457034872&sr=8-1&keywords=how+to+choose+a+university THANK YOU - - - - - - - - Panama Hat No Voice by Audionautix is licensed under a Creative Commons Attribution License (https://creativecommons.org/licenses/by/4.0/) Artist: http://audionautix.com/

Comments

1. My uncle once told me exactly the same thing. You can not blame people for not understanding blockchains and the potential of it. Do you think that guy knows how internet works? Prolly not, but he knows that the send button on hotmail will send a message to his kids. And thats all he needs to know right? Or dial a certain number on his phone to hear the voice of someone else, not understanding how telecommunications work right? Its magic
   So will it be with crypto's imo. For example:
   Imagine after some years that guy votes for a politician. All fancy by just touching on a screen. His vote will be kept on the blockchain and secured by the network etc etc... he doesnt know that.. all he knows is that pressing on the screen means voting for his favorite politician. And he will be so glad and think.... Its magic !
2. lol dont do it....gambling that is
3. You can't just compare the "game". To say that slot machines, roulette, dice etc... are the purest forms of gambling while sports betting is next, and then stocks or whatever... that's only half the equation. Yes, odds do matter. The more uncertainty you have the more of a gamble it is. BUT, the other half of the equation is how you manage your bankroll against that uncertainty. How much you put on the line for any one bet. It's not really gambling if you're playing blackjack for a penny a hand. Unless of course you only have 10 cents to your name. But if you put your whole life savings on one hand of blackjack, there's no doubt about it, that's definitely gambling. Putting your whole life savings into ANYthing is a gamble. Diversifying your life savings over even just a few sectors/funds... that's investing. You said in the beginning that you "invested" your life savings in cryptocurrencies. No you didn't. You gambled.
4. Another great video mate. I only watch your crytpo videos, so it would be great to see more. Have you ever thought about doing a weekly progress update with real figures? Maybe not using your total investment, but possibly starting with £100 in a seperate Poloniex account and seeing how you spread it across different coins, explaining what decisions you made throughout the week based on news & updates, and watching your balance grow/shrink over time? Could be a nice little series. Cheers!
5. I agree, everything in life is a gamble. the really relevant factor is HOW MUCH RISK IS INVOLVED. casino is gambling and high risk. Choosing what college you go to is a gamble as well but low risk. Who is you marry is a gamble ... the level of risk depends on your mate, I guess ... ;-)
   
   What really matters is the amount of risk and the potential reward. That determines whether it is a good or bad gamble.
   
   buying cryptoCurrencies is, for me and I'm sure others, a "good gamble" ... ;-)
6. investing in stocks, investing in crypto, all a gamble. i dealt with the same guilt from my conscience. i only put what i can afford to lose into crypto currency.
7. Here's an angle. In the UK, you don't pay any tax on gambling profits. But if you make money investing in Bitcoin and Ether you pay capital gains tax. So the law doesn't regard what you're doing as gambling.
8. I only invest money that I could live without even if it never returned a cent.
   
   Think about this.... if you invest in a company (stock) and it goes bankrupt, you have nothing. But if you buy crypto and it goes to zero, you still have whatever amount of coins you bought, they are just worthless at the time. That doesn't mean it won't rise again.
   
   Just like gold. If you have 18 ounces of gold and the price goes to zero, you still have 18 ounces of gold. Same with Crypto. Not the same with stock.
   
   Another thing to consider is holding or investing in BTC. That doesn't seem as wise to me as buying the denominations. Why tie up your capital which is a major risk when you can invest in the others, make your money, then cash out and convert back to BTC to take profits? BTC should be used in this fashion.
   
   The naysayers are the same type of people who said the internet was a fad or never going to go anywhere. Look at it now; A parallel universe. Keep doing what you know is right. Fear will continue to hold back the rest.
9. everything is a risk vs reward! blockchain cannot be manipulated...unlike stock market!! go Ether and Bitcoin!$
10. it's not gambling because Bitcoin and aetherium are solving real-world business and economic problems. they're bringing something of incredible value to the world. As investors we can identify that and we have positioned ourselves accordingly in order to profit. although there are a lot of Trades to make to catch various price movements. That's a little closer to gambling if anything. But the long-term picture is it is a wise investment with the appropriate amount of risk.
11. its only gambling when you know nothing about the thing your investing in..... ;)
12. I enjoy your content. I agree 100%. GL
13. Great video Louis!
14. Keeping your wealth stored in anything is a gamble, whether it's government issued currency, gold, or crypto coins.